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KVUE

Kenvue (NYSE:KVUE) has seen a decrease in short interest, with the short percent of float dropping by 5.16% since the last report. The company has 35.03 million shares sold short, representing 17.63% of its float. The average time to cover these short positions is 2.37 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. Kenvue's short interest is higher than its peer group average of 7.12%.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 5:30 pm

PAYX

Paychex (NYSE:PAYX) has seen a rise in short interest, now at 9.94 million shares or 3.08% of float, taking an average of 5.18 days to cover. This increase may indicate bearish market sentiment, but Paychex has less short interest compared to its peers' average of 5.95%. Short interest is a key indicator of market sentiment and can sometimes be bullish for a stock.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 5:30 pm

FCX

Freeport-McMoRan (NYSE:FCX) has seen a 3.33% increase in short interest since the last report, with 17.69 million shares sold short, representing 1.24% of available shares. The short interest is below the peer group average of 4.07%. An increase in short interest can indicate bearish market sentiment but can also be a bullish sign as explained by Benzinga Money.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 5:30 pm

CSCO

SPLK

Splunk Inc (SPLK) shares saw an early rise after reporting strong Q3 results, driven by cybersecurity demand. Analysts from Truist Securities, Mizuho Securities, Needham, and KeyBanc Capital Markets provided insights, with a common price target of $157. Truist downgraded SPLK from Buy to Hold, while others maintained Neutral or Sector Weight ratings. Cisco Systems Inc. (CSCO) plans to acquire SPLK for $157 per share in cash, expected to close by end of 2024. The acquisition is seen as favorable for Splunk's shareholders and reasonable for Cisco.

Portfolio Pulse from Priya Nigam

November 29, 2023 | 5:29 pm

SEEL

Seelos Therapeutics' stock trades lower following the announcement of a public offering priced at $1.32 per share, aiming to raise $5.55 million through the sale of 1,781,934 shares.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:28 pm

ASND

Ascendis Pharma's stock is trading higher following the announcement of an exclusive license agreement with Teijin Limited for the Japan rights to its rare disease drugs.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:27 pm

CENN

Cenntro Electric Group Limited (NASDAQ:CENN) announced a 1-for-10 reverse stock split to comply with Nasdaq's minimum bid price requirement. The split is set for December 1, 2023, to meet the December 18 deadline. This action will reduce the number of outstanding shares from about 304.4 million to approximately 30.4 million. The split will not change stockholders' percentage ownership, except for adjustments due to fractional shares, which will be rounded up to whole shares. The par value remains unchanged, and all derivatives will be adjusted accordingly.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:27 pm

CART

CMCSA

Instacart (Maplebear Inc.) announced that its Instacart+ members in the U.S. now have access to Peacock Premium at no additional cost. Peacock is NBCUniversal's streaming service, which is a subsidiary of Comcast Corporation. The partnership includes a custom spot featuring content from Peacock, and it comes at a time when TV viewing and grocery delivery peak during the holiday season. Instacart's stock (CART) rose by 2.36% to $26.06 following the news.

Portfolio Pulse from Nabaparna Bhattacharya

November 29, 2023 | 5:25 pm

TGL

Treasure Global shares are trading lower following the announcement of a $4 million underwritten public offering, which typically dilutes existing shareholders and can put downward pressure on the stock price.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:23 pm

AMZN

W

WMT

Cyber Five online sales in the U.S. showed mixed results, with Adobe Analytics reporting a 7.8% increase to $38 billion, while Salesforce reported a lower growth rate. Amazon led with record sales of 1 billion items and plans to continue its sales event until Dec. 24. Bank of America analyst Justin Post reiterated a Buy rating on Amazon with a price target of $168 and on Wayfair with a price target of $72. AMZN shares traded slightly lower, while W shares traded higher.

Portfolio Pulse from Anusuya Lahiri

November 29, 2023 | 5:21 pm