Streetbeat News

Stock Prices

PNC

PNC Financial Services Group (NYSE:PNC) has seen an 8.33% increase in its short percent of float, now at 1.3% of all regular shares available for trading. This indicates a rise in bearish sentiment among investors. However, PNC's short interest is still below the peer group average of 1.79%.

Portfolio Pulse from Benzinga Insights

June 27, 2024 | 4:45 pm

NRG

NRG Energy's short percent of float has risen 11.8%, with 12.56 million shares sold short, representing 7.96% of all regular shares available for trading. This is higher than the peer group average of 2.29%. Increased short interest can indicate bearish sentiment but can also be bullish if short sellers are forced to cover their positions.

Portfolio Pulse from Benzinga Insights

June 27, 2024 | 4:45 pm

CFG

COF

DCOM

FFWM

HBAN

KBWB

KEY

KRE

WFC

XLF

Bank of America analyst Ebrahim H. Poonawala highlights the varying impacts of the latest Federal Reserve stress test results on different banks. Goldman Sachs was the worst hit with a significant increase in its stress capital buffer, while Huntington saw the most favorable outcome among regional banks. Citigroup and Wells Fargo are expected to handle their changes positively, whereas Citizens Financial Group may face pressure. Regional banks outperformed larger institutions in market reactions.

Portfolio Pulse from Piero Cingari

June 27, 2024 | 4:44 pm

ABBV

AbbVie shares are trading lower after the company announced the acquisition of Celsius Therapeutics.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:44 pm

4502.JP

ASPHF

Ascentage Pharma Group International (OTC:ASPHF) has entered into a partnership with Takeda International, giving Takeda an option to market Ascentage's leukemia drug, olverembatinib, outside of China and Russia. The deal includes an initial payment of $100 million and potential milestone payments up to $1.2 billion. Takeda has also taken a 7.73% equity stake in Ascentage. This partnership alleviates Ascentage's liquidity crisis and boosts investor confidence, as evidenced by a significant rise in its stock price.

Portfolio Pulse from The Bamboo Works

June 27, 2024 | 4:43 pm

LNN

Lindsay shares are trading higher after the company reported better-than-expected Q3 EPS results.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:41 pm

ADBE

Adobe shares are trading higher amid strength in software stocks.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:41 pm

CVNA

NVO

RIVN

The article discusses the recent bullish moves in Novo Nordisk, Carvana, and Rivian, highlighting the pros and cons of trading options versus stocks. Novo Nordisk's stock surged after China approved its anti-obesity drug, Wegovy. Carvana's stock hit a 52-week high, benefiting from a call spread strategy. Rivian's shares rose significantly due to Volkswagen's $5 billion investment.

Portfolio Pulse from David Pinsen

June 27, 2024 | 4:39 pm

GRFS

Grifols expects its leverage ratio to decrease to 5.4x by the end of June 2024, down from 6.8x in March 2024, due to SRAAS proceeds. The company anticipates positive free cash flow in Q2 2024, contributing to its FY24 guidance of €5 million, which includes €480 million of extraordinary items. By the end of June, liquidity is expected to exceed €2.4 billion, including SRAAS proceeds. Grifols is a completely separate entity from Scranton, with none of Scranton's liabilities consolidated in the company's group.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:37 pm

NGNE

Neurogene shares are trading higher after BMO Capital initiated coverage on the stock with an Outperform rating and announced a $65 price target.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:35 pm