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FRSH

Jefferies analyst Brent Thill has upgraded Freshworks (NASDAQ:FRSH) from Hold to Buy and increased the price target from $20 to $30, indicating a more positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 12:47 pm

STZ

Constellation Brands has revised its FY24 earnings per share (EPS) guidance downward from the previous range of $9.60 - $9.80 to a new range of $9.15 - $9.35.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 12:39 pm

ANGO

GBX

MPW

PLTR

PTON

QQQ

SPY

STZ

US stocks are expected to continue their decline as investors await the December jobs report. Technology stocks are particularly affected by the current risk aversion. The jobs report will be crucial in determining market direction, with a stronger-than-expected report potentially pushing yields higher and exerting further downward pressure on the market. Analyst Louis Navellier suggests the S&P could test 4,800 if earnings growth projections for 2024 hold. Premarket trading saw SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) fall slightly. Stocks like Palantir Technologies (PLTR) and Medical Properties Trust (MPW) saw premarket movement due to an analyst downgrade and rent deferral news, respectively. Peloton Interactive (PTON) rose after a partnership announcement. AngioDynamics (ANGO), Constellation Brands (STZ), and Greenbrier Companies (GBX) are set to report quarterly results.

Portfolio Pulse from Shanthi Rexaline

January 05, 2024 | 12:36 pm

STZ

Constellation Brands (NYSE:STZ) reported Q3 adjusted EPS of $3.19, surpassing the $3.00 estimate, a 12.72% year-over-year increase. However, sales of $2.47B fell short of the $2.54B estimate, though they were up 1.40% from the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 12:36 pm

DHLGY

FDX

UPS

India's Competition Commission (CCI) is investigating Deutsche Post (DHL) (OTC:DHLGY), United Parcel Service Inc (NYSE:UPS), and FedEx Corp (NYSE:FDX) for alleged collusion on discounts and tariffs. The probe, which began in October 2022, was triggered by complaints from the Federation of Indian Publishers. If found guilty, the companies could face significant fines based on their profits or revenue. UPS shares closed 0.35% lower at $156.99 on Thursday.

Portfolio Pulse from Shivani Kumaresan

January 05, 2024 | 12:35 pm

MOND

Morgan Stanley analyst Brian Nowak has initiated coverage on Mondee Hldgs (NASDAQ:MOND) with an Equal-Weight rating and set a price target of $3.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 12:32 pm

OMC

Analysts have provided ratings for high-yielding dividend stocks in the tech and telecom sector. Omnicom Group Inc. (OMC) has a dividend yield of 3.29% with mixed price target adjustments from Citigroup and Morgan Stanley. Verizon Communications Inc. (VZ) offers a 6.76% yield, with positive ratings and price target increases from Oppenheimer and Citigroup. AT&T Inc. (T) has a 6.47% yield, receiving a Buy rating from Citigroup and an upgrade from Scotiabank. Recent news includes OMC's upbeat Q3 earnings, VZ's new Netflix and Max bundle, and T-Mobile's inclusion of Hulu in its services.

Portfolio Pulse from Avi Kapoor

January 05, 2024 | 12:32 pm

ADBE

GOOG

KHC

Insiders at Adobe, Zoom Video Communications, Kraft Heinz Company, and Alphabet have recently sold shares of their companies. Adobe's President of Digital Media sold shares after the termination of a $20 billion merger agreement with Figma. A Zoom Video director sold shares following a downgrade by Wells Fargo. Kraft Heinz saw insider sales despite an upgrade by Evercore ISI Group. Alphabet's CEO sold shares amidst changes to online user tracking. Insider sales can be a signal to investors but should not be the sole basis for investment decisions.

Portfolio Pulse from Avi Kapoor

January 05, 2024 | 12:31 pm

MTD

Mettler-Toledo International Inc (NYSE:MTD) stock dropped approximately 4% after the company announced a reduction in Q4 guidance. The company now expects Q4 sales to decline by around 12-13% Y/Y, compared to the previously forecasted 7-8% decline. The downward revision is attributed to unexpected shipping delays caused by a new external European logistics service provider. Mettler-Toledo anticipates recovery from these delays in Q1 2024. Consequently, the company has also withdrawn its Q4 2023 Adjusted EPS guidance. In Q3, Mettler-Toledo reported revenue of $942.5 million and adjusted EPS of $9.80, which missed revenue consensus but beat EPS estimates.

Portfolio Pulse from Lekha Gupta

January 05, 2024 | 12:15 pm

ANGO

AngioDynamics updated its guidance, projecting a larger adjusted EPS loss of $(0.35)-$(0.42) compared to the previous forecast of $(0.28)-$(0.34) and the consensus estimate of $(0.32).

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 12:10 pm