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LLY

NVO

Cantor Fitzgerald initiated coverage on Novo Nordisk A/S (NVO), Europe's most valuable company, with an Outperform rating and a price target of $120. Novo Nordisk, a leader in the obesity space, competes primarily with Eli Lilly (LLY) and is expected to benefit from the growing obesity market. The company's drugs Wegovy and Ozempic are in high demand, and Novo Nordisk is well-positioned against potential new competitors due to its data, commercial infrastructure, and manufacturing capacity. Novo Nordisk anticipates FY23 sales and operating profit growth significantly above its large-cap pharma peers. CEO Lars Fruergaard Jorgensen expressed intentions to pursue 'bolt-on' acquisitions. NVO shares were down 0.50% at $101.35 last Friday.

Portfolio Pulse from Vandana Singh

December 01, 2023 | 3:55 pm

AMPE

DELL

GGE

HCDI

POLA

SMFL

VIEW

U.S. stocks were mixed with the Dow Jones gaining and NASDAQ falling. Dell Technologies reported Q3 earnings of $1.88 per share, beating estimates but missed revenue targets with $22.25 billion versus the expected $23.00 billion. Harbor Custom Development, View, and Green Giant saw significant share price increases, while Polar Power, Ampio Pharmaceuticals, and Smart for Life experienced notable declines. Oil and gold prices rose, and European shares were higher. Asian markets closed mixed, with economic data showing varied manufacturing PMI results.

Portfolio Pulse from Lisa Levin

December 01, 2023 | 3:52 pm

BTCUSD

ETHUSD

THETAUSD

TIAUSD

Cryptocurrency prices are on the rise, with Bitcoin (BTC) surpassing the $38,000 level and Ethereum (ETH) breaking above $2,100. Celestia (TIA) is the top gainer with a 15.7% increase, while Theta Network (THETA) is the biggest loser, dropping by 4.1%. The global crypto market cap has increased by 2.6% to $1.46 trillion.

Portfolio Pulse from Lisa Levin

December 01, 2023 | 3:49 pm

VIEW

Shares of View, Inc. resumed trading and were then halted again due to a circuit breaker, this time triggered by a move to the downside. Despite this, the stock is currently up 218.6%.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 3:49 pm

AZO

AutoZone, Inc. (NYSE:AZO) is expected to report higher earnings for Q1 before the market opens on Dec. 5, 2023. Analysts predict earnings of $31.18 per share, up from $27.45 per share a year ago, with revenue estimated at $4.20 billion. The stock closed up 0.5% at $2,609.93 recently. Analysts from Wedbush, Truist Securities, Oppenheimer, DA Davidson, and JP Morgan have provided ratings and price targets, with varying degrees of accuracy and optimism.

Portfolio Pulse from Lisa Levin

December 01, 2023 | 3:48 pm

DBVT

KTRA

PDCO

The article lists the top 5 oversold health care stocks with potential for growth in December, based on their low Relative Strength Index (RSI) values. Cigna Group (CI) is in talks for a merger with Humana, DBV Technologies (DBVT) announced positive trial results, Kintara Therapeutics (KTRA) is starting a new study, Pediatrix Medical Group (MD) reported downbeat earnings, and Patterson Companies (PDCO) reported sales missing consensus.

Portfolio Pulse from Lisa Levin

December 01, 2023 | 3:47 pm

NVS

Novartis (NYSE:NVS) has seen a 5.56% increase in short interest since its last report, with 3.84 million shares sold short, representing 0.19% of available shares. It would take about 3.02 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. Novartis has less short interest compared to its peer group average of 3.50%.

Portfolio Pulse from Benzinga Insights

December 01, 2023 | 3:45 pm

LEN

Lennar Corporation (NYSE:LEN) has experienced a 10.94% decrease in short interest, with 5.44 million shares sold short, representing 2.85% of its float. The average time to cover these short positions is 2.65 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average short interest of 6.35%. However, this does not necessarily predict a near-term rise in Lennar's stock price.

Portfolio Pulse from Benzinga Insights

December 01, 2023 | 3:45 pm

GEHC

GE HealthCare Techs (NYSE:GEHC) has seen a 14.65% increase in short interest since its last report, with 16.55 million shares sold short, representing 4.54% of its float. The short interest is higher than the peer group average of 3.60%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. It takes traders approximately 6.1 days to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

December 01, 2023 | 3:45 pm

BMO

Bank of Montreal (NYSE:BMO) reported a Q4 FY23 revenue decrease of 22.3% Y/Y to C$8.36 billion, with adjusted revenue up 19% Y/Y. Adjusted EPS dropped to C$2.81 from C$3.04 in 4Q22. Net income fell to C$1.617 billion, and the provision for credit losses doubled to C$446 million. ROE decreased to 8.6% from 27.6%, and the CET1 ratio fell to 12.5% from 16.7%. However, Canadian P&C and U.S. P&C net incomes increased Y/Y, while BMO Wealth Management and Corporate Services saw declines. BMO raised its dividend by 3% to C$1.51, payable on February 27, 2024. BMO shares rose 1.75% to $83.73.

Portfolio Pulse from Akanksha Bakshi

December 01, 2023 | 3:38 pm