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MRK

SMMT

Merck shares are trading lower following Phase III HARMONi-2 trial data from Summit Therapeutics. Summit Therapeutics shares are trading higher after the company's Phase III HARMONi-2 trial met its primary endpoint.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:53 pm

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) shares are trading higher after Mizuho analyst Dan Dolev upgraded the stock from Neutral to Buy and raised its price target from $68 to $90. Dolev's analysis of PayPal's new Fastlane product shows potential for significant transaction margin growth. The analyst is also encouraged by stabilization in Branded Checkout trends and sees a compelling valuation for PayPal.

Portfolio Pulse from Anusuya Lahiri

May 30, 2024 | 6:52 pm

SMMT

Summit Therapeutics shares were halted at 1:38 p.m.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:52 pm

AVDE

AVSD

UBS

UBS Group AG (NYSE:UBS) announced a significant reshuffle in its Group Executive Board, effective July 2024, including splitting its top wealth management role. The changes aim to streamline operations and emphasize long-term growth, particularly in the Americas and Asia-Pacific. UBS shares rose 2.33% following the announcement.

Portfolio Pulse from Lekha Gupta

May 30, 2024 | 6:50 pm

BBY

MAXN

NBY

ONMD

PATH

RRGB

U.S. stocks traded lower with the Dow Jones falling over 300 points. Best Buy reported better-than-expected earnings, while Foot Locker, Red Robin Gourmet Burgers, and OneMedNet saw significant stock price increases. Maxeon Solar Technologies, NovaBay Pharmaceuticals, and UiPath experienced sharp declines due to disappointing earnings and guidance.

Portfolio Pulse from Avi Kapoor

May 30, 2024 | 6:48 pm

AMZN

CHWY

WMT

Chewy, Inc. (NYSE:CHWY) reported strong Q1 2024 results, surpassing expectations with an adjusted EPS of $0.31 and sales of $2.88 billion. Analysts have raised their price targets and remain optimistic about the company's future growth and profitability.

Portfolio Pulse from Nabaparna Bhattacharya

May 30, 2024 | 6:47 pm

SPG

Recent options trading activity for Simon Property Group (NYSE:SPG) indicates a bearish sentiment among large investors, with 6 put options and 2 call options detected. The price target for SPG is between $125.0 and $155.0. The stock is currently trading at $148.07, up by 0.66%, with an RSI indicating it may be approaching overbought territory. An analyst from Scotiabank maintains a Sector Perform rating with a price target of $152.0.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:45 pm

DIS

PEP

SPY

Activist investor Nelson Peltz, through Trian Fund Management, increased his stake in Walt Disney Co (NYSE:DIS) last October and owned more than 1% by the end of 2023. Despite losing a proxy battle to oust CEO Bob Iger, Peltz sold his entire Disney stake for nearly $1 billion. Disney's stock has outperformed the SPDR S&P 500 Trust (NYSE:SPY) in 2024, although it dropped 10% on May 7. Peltz has previously taken activist positions in companies like Proctor & Gamble Co (NYSE:PG) and PepsiCo (NYSE:PEP).

Portfolio Pulse from Aaron Bry

May 30, 2024 | 6:43 pm

SMMT

Summit Therapeutics shares are trading higher after the company's Phase III HARMONi-2 trial met its primary endpoint.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:40 pm

PSTG

Pure Storage, Inc. (NYSE:PSTG) shares are trading higher following the company's quarterly earnings announcement. The company reported better-than-expected adjusted EPS and sales for Q1 of fiscal-year 2025 and issued positive guidance for Q2 and the full fiscal year. Several analysts have raised their price targets for the stock.

Portfolio Pulse from Dylan Berman

May 30, 2024 | 6:39 pm