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EYPT

HC Wainwright & Co. analyst Yi Chen has reaffirmed a Buy rating on EyePoint Pharmaceuticals (NASDAQ:EYPT) and increased the price target from $25 to $35.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 7:33 pm

ETH-USD

SOL-USD

The total value locked in DeFi protocols reached $49.6 billion on Dec. 5, 2023, marking a significant increase from multiyear lows in mid-October. Blast, a Layer 2 project, attracted over $700 million in deposits, with assets locked until at least March 2024. Ethereum, a key DeFi asset, rose 42% since Oct. 13, outpacing the overall DeFi market. Lido and RocketPool, liquid staking services, hold 45% of DeFi's total value. Solana-based protocols marginfi, Jito, and Marinade Finance saw TVL increases of 60-120% in the past 30 days, with institutional interest in Solana growing as evidenced by Grayscale's Solana Trust trading at an 869% premium.

Portfolio Pulse from Khyathi Dalal

December 05, 2023 | 7:32 pm

PANW

Over the past 10 years, Palo Alto Networks (NASDAQ:PANW) has produced an average annual return of 32.64%, outperforming the market by 22.93% on an annualized basis. A $100 investment in PANW a decade ago would be worth $1,679.22 today. The company's market capitalization currently stands at $88.92 billion.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 7:30 pm

NEE

NextEra Energy (NYSE:NEE) has delivered an average annual return of 10.91% over the past decade, outperforming the market. A $1000 investment in NEE 10 years ago would now be worth $2,774.94. The company's current market capitalization stands at $121.13 billion.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 7:30 pm

UBS

UBS shares have declined following a downgrade from Buy to Neutral by B of A Securities.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 7:28 pm

AZO

CMND

DBI

IBIO

MFH

REPL

TVTX

U.S. stocks showed mixed performance with the Dow down 0.18%, NASDAQ up 0.19%, and S&P 500 down 0.07%. AutoZone Inc (NYSE:AZO) reported Q1 earnings that exceeded expectations with EPS of $32.55, beating the consensus of $31.57, but sales slightly missed estimates. Information technology shares rose by 0.4%, while materials shares dipped by 1.3%. Clearmind Medicine Inc. (NASDAQ:CMND), Travere Therapeutics, Inc. (NASDAQ:TVTX), and Mercurity Fintech Holding Inc. (NASDAQ:MFH) saw their shares rise significantly. Conversely, Replimune Group, Inc. (NASDAQ:REPL), iBio, Inc. (NYSE:IBIO), and Designer Brands Inc. (NYSE:DBI) experienced substantial share price declines. Oil and gold prices fell, and European shares closed mostly higher. Asian markets mostly closed lower, and economic data showed a decrease in job openings and a rise in the ISM Services PMI.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 7:27 pm

FCX

Freeport-McMoRan's stock (FCX) is trading lower due to a drop in copper futures, which may indicate a bearish outlook for copper prices and potentially impact the company's revenue, as it is a major copper producer.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 7:27 pm

SCCO

Southern Copper Corporation's stock (SCCO) is trading lower in correlation with a decrease in copper futures prices.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 7:27 pm

IVV

SPXL

SPY

UPRO

VOO

The U.S. stock market has experienced a surge in buying activity, with over 60% of S&P 500 stocks reaching their 20-day high. The SPDR S&P 500 ETF Trust (SPY), iShares Core S&P 500 ETF (IVV), and Vanguard 500 Index Fund ETF (VOO) have seen over 9% gains since October 31. Leveraged ETFs like Direxion Daily S&P 500 Bull 3X Shares (SPXL) and ProShares UltraPro S&P 500 (UPRO) have seen nearly 28% returns in the same period. Positive macroeconomic factors and solid earnings reports have contributed to this growth. Historical data suggests that 'extreme buying' events, where more than 60% of S&P 500 stocks hit a 20-day high, lead to an average 18% return over the following 12 months, indicating positive expectations for 2024.

Portfolio Pulse from Surbhi Jain

December 05, 2023 | 7:24 pm

JNJ

Johnson & Johnson (NYSE:JNJ) anticipates 5%-6% operational sales growth for FY24, with adjusted operational EPS growth of 7.3% at the midpoint ($10.55-$10.75). The guidance includes a $0.15 dilutive impact from the Laminar, Inc. acquisition. JNJ's Innovative Medicine business aims for over 20 novel therapies and 50 product expansions by 2030, forecasting 5%-7% sales growth from 2025-2030. The MedTech business expects one-third of sales from new products by 2027. Strong demand is expected for cancer treatments Darzalex and Carvykti, and psoriasis drug Stelara. JNJ's stock is down 0.25% to $158.49.

Portfolio Pulse from Nabaparna Bhattacharya

December 05, 2023 | 7:12 pm