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RIVN

Rivian Automotive (RIVN) shares are trading higher by 5.46% amid strength in growth stocks and hopes of a debt ceiling resolution. The company announced that its all-electric service vans will hit the roads in the coming weeks, with over 200 Rivian Service Vans (RSV) expected by year-end.

Portfolio Pulse from Henry Khederian

May 22, 2023 | 6:52 pm

BIG

TGT

WMT

Telsey Advisory Group analyst Joseph Feldman has reiterated a Market Perform rating on Big Lots Inc (NYSE:BIG) and lowered the price target from $15 to $9. The analyst forecasts a total sales decline of 13.6% to $1.19 billion, with comparable sales decline of 14.0% due to softer consumer spending and the closing of Big Lots's top furniture vendor, United Furniture Industries.

Portfolio Pulse from Shivani Kumaresan

May 22, 2023 | 6:49 pm

COST

Unusual options activity has been detected for Costco Wholesale (NASDAQ:COST), with 21 strange trades observed. Whales have been targeting a price range of $410 to $600 for Costco over the last 3 months. The stock is currently down 0.76% at $492.74, with a neutral RSI indicator. Morgan Stanley maintains an Overweight rating with a price target of $535, while Telsey Advisory Group downgraded to Outperform with a price target of $540.

Portfolio Pulse from Benzinga Insights

May 22, 2023 | 6:46 pm

SE

A whale has taken a bearish stance on Sea (NYSE:SE) with 69% of detected trades being bearish. The total amount for puts is $509,400 and for calls is $344,955. Whales have been targeting a price range of $60 to $105 for Sea over the last 3 months.

Portfolio Pulse from Benzinga Insights

May 22, 2023 | 6:46 pm

PLTR

Palantir Technologies Inc (NYSE:PLTR) shares are trading higher by 1.67% to $11.91, with a 27.11% increase over the trailing five sessions. The company reported Q1 revenue of $525 million, beating analyst estimates of $505.6 million. Palantir CEO Alex Karp provided insights on AI and large language models at the 2023 Copenhagen Democracy Summit.

Portfolio Pulse from Henry Khederian

May 22, 2023 | 6:45 pm

APPN

DOCU

OKTA

U

ZS

Tech and growth stocks are trading higher due to optimism surrounding a potential debt ceiling resolution.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 6:38 pm

TWLO

Twilio shares are trading higher after the company's presentation at the J.P. Morgan 51st Annual Global Technology, Media and Communications Conference. The stock may also be benefiting from strength in growth stocks.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 6:37 pm

DKNG

DraftKings Inc (NASDAQ:DKNG) shares rally after UBS analyst Robin Farley upgrades the stock from Neutral to Buy and raises the price target from $19 to $30, following the company's impressive quarterly report. The analyst sees potential for a +20% revenue CAGR from 2023E to 2026E.

Portfolio Pulse from Chris Katje

May 22, 2023 | 6:36 pm

JNJ

RAIN

Rain Oncology announced disappointing Phase 3 MANTRA data for milademetan in patients with dedifferentiated liposarcoma, failing to meet its primary endpoint. The company does not expect to pursue further development of milademetan, causing RAIN shares to plummet 86.9%.

Portfolio Pulse from Vandana Singh

May 22, 2023 | 6:36 pm

RIVN

Rivian shares are trading higher as growth stocks gain strength. The company announced that its all-electric service vans will be on the roads in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 6:32 pm