Streetbeat News

Stock Prices

VRTX

Vertex Pharmaceuticals' short percent of float has risen 6.6% since its last report, with 2.92 million shares sold short, which is 1.13% of all regular shares available for trading. It would take traders 3.92 days to cover their short positions on average. The company's short interest is less than its peer group average of 3.60%.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 7:15 pm

THO

Truist Securities analyst Michael Swartz reiterated a Hold rating on Thor Industries Inc (NYSE:THO) and raised the price target from $84 to $86. Thor reported solid FY4Q23 results, with adjusted EPS of $1.68 on revenue of $2.74 billion, beating estimates. The company ended FY4Q with a North American backlog of ~$2 billion. The analyst believes that an anticipated production rebound would likely unfold at a more measured pace due to the ongoing clearance of aged product.

Portfolio Pulse from Shivani Kumaresan

September 26, 2023 | 7:12 pm

MAR

Morgan Stanley analyst Stephen W Grambling has reiterated an Overweight rating on Marriott International Inc (NASDAQ:MAR) with a price target of $225. The company is set to host its first investor day in over four years on September 27. The analyst anticipates a similar structure to previous events, with added details on recent brand launches, partnerships, and technology investments. The company is expected to deliver an 11% 2019-2023 EPS CAGR on +2% RevPAR and +7% EBITDA. The recent sell-off leaves MAR trading at 19x the analyst's 2024 EPS, below the long-term average of ~21.5X.

Portfolio Pulse from Shivani Kumaresan

September 26, 2023 | 7:10 pm

TGT

Target Corporation (TGT) has announced the closure of nine stores across the US due to increasing levels of theft and organized retail crime. The stores are located in New York City, Seattle, San Francisco, and Portland. The company has been vocal about the issue of organized retail crime, which has led to higher shrink levels, impacting profitability. The closures are set to take place on October 21, 2023. The company also expressed support for the Combating Organized Retail Crime Act, which proposes stricter penalties for theft offenses.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 7:08 pm

NKLA

Nikola Corporation's shares are trading higher following a recent pullback in price. The stock has had an active month, reaching a three-month low in mid-September before rising again. The appointment of a new COO, Mary Chan, pushed shares to a high of $1.59 last Monday before they pulled back. Over the past week, shares of Nikola have risen over 10%. Other noteworthy events include the appointment of Joseph S. Cappello as president of Nikola Energy, and the agreement with ITD Industries, Inc. to become the first dealer for Nikola Class 8 EV trucks in Canada.

Portfolio Pulse from Ryan Gustafson

September 26, 2023 | 7:07 pm

MKGAF

MKKGY

RGEN

Repligen Corporation (RGEN) has agreed to acquire Sweden-based Metenova, a move that is expected to expand Repligen's market reach and enhance its capabilities in fluid management. The acquisition is projected to contribute significantly to Repligen's revenues and margins from 2023 onwards. The deal is also expected to give Repligen a competitive edge against rivals like Merck KGaA (MKGAF, MKKGY).

Portfolio Pulse from Vandana Singh

September 26, 2023 | 7:07 pm

PDD

PDD Holdings Inc's shares are trading lower due to concerns over China's property sector, particularly the issues surrounding China Evergrande. The potential economic slowdown in China could decrease consumer spending, negatively impacting PDD's e-commerce platform. Additionally, disruptions in supply chains and logistics could increase operational challenges for PDD.

Portfolio Pulse from Henry Khederian

September 26, 2023 | 7:04 pm

MA

A significant number of bearish trades have been observed in Mastercard's options, with 55% of investors taking a bearish stance. The targeted price range for Mastercard over the last 3 months is $370.0 to $480.0. The current price of Mastercard is down by 1.67% at $395.76. Jefferies and Truist Securities maintain a Buy rating on Mastercard with a price target of $475, while Mizuho downgraded its action to Buy with a price target of $435.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 7:01 pm

SPY

Net worth of individuals has increased since the COVID-19 pandemic, largely due to stock market gains and property value increases. The top 1% saw the highest net worth increase of 22%. Household wealth hit record highs of $154.28 trillion last quarter, driven by a stock market rally and rebounding property values. The SPDR S&P 500 ETF Trust (NYSE:SPY) was up more than 12% since the start of the year, but has trended lower in recent months.

Portfolio Pulse from Adam Eckert

September 26, 2023 | 7:01 pm

EW

Edwards Lifesciences Corp (NYSE:EW) is under scrutiny by the European Commission for potential market power abuse. Despite this, the company has reiterated its commitment to fair competition. Amid the investigation, Oppenheimer has upgraded Edwards Lifesciences' stock to Outperform from Perform with a price target of $90, citing an attractive risk-reward profile. The company has a significant opportunity in the Transcatheter Tricuspid Valve Replacement (TTVR) sector, with its product EVOQUE expected to obtain regulatory approvals by the end of 2024.

Portfolio Pulse from Vandana Singh

September 26, 2023 | 7:00 pm