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WOLF

Wolfspeed's (NYSE:WOLF) short interest has increased by 3.34%, with 20.29 million shares sold short, representing 22.29% of its float. This indicates a bearish market sentiment, as it takes traders approximately 5.2 days to cover their short positions. Compared to its peers, Wolfspeed has a significantly higher short interest, with the peer group average at 8.53%. This could suggest a potential bullish reversal if the market conditions change, as high short interest can sometimes lead to a short squeeze.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 6:15 pm

LCTX

Lineage Cell Therapeutics' shares surged following the announcement of positive 24-month visual acuity results from a Phase 1/2a clinical study of RG6501 in patients with geographic atrophy secondary to age-related macular degeneration.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 6:13 pm

JNJ

Johnson & Johnson (NYSE:JNJ) released promising data from its bladder cancer studies, TAR-210 and TAR-200, and a prostate cancer study involving Erleada. TAR-210 showed a 90% recurrence-free survival rate in one cohort and a 90% complete response rate in another. TAR-200 demonstrated a 74.6% estimated 1-year duration of response rate, with 85% of responders remaining in complete response. The prostate cancer study with Erleada reported a 100% biochemical recurrence-free rate at 24 months. Despite these positive results, JNJ shares were down 0.50% at $148.52.

Portfolio Pulse from Vandana Singh

May 06, 2024 | 6:10 pm

HLF

Herbalife shares experienced a significant increase in trading volume following a Form 4 filing by company director Donal L Mulligan, indicating a notable transaction.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 6:05 pm

HAP

HJEN

SHEL

Shell plc plans to divest the majority of its shareholding in its South African downstream unit, SDSA, following a comprehensive review of its global businesses. The decision aims to reshape Shell's downstream portfolio. Despite the divestiture, Shell intends to maintain SDSA's operational capabilities and brand presence during the sale process. Shell, with over a century of presence in South Africa, continues to explore offshore opportunities in the country amidst environmental opposition. Additionally, Shell is in discussions to sell its gas station business in Malaysia to Saudi Aramco. Shell's stock has seen a ~19% increase over the past year, and it is featured in the Direxion Hydrogen ETF (HJEN) and VanEck Natural Resources ETF (HAP).

Portfolio Pulse from Lekha Gupta

May 06, 2024 | 6:03 pm

APLD

Applied Digital (NASDAQ:APLD) received 7 analyst ratings in the past three months, showing a mix of bullish sentiment despite a decrease in the average 12-month price target from $13.17 to $9.86, a 25.13% drop. Analysts from firms like B. Riley Securities, Lake Street, Roth MKM, and Needham have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Applied Digital's financial indicators such as market capitalization, revenue growth, net margin, ROE, ROA, and debt management were also discussed, highlighting its position and performance in the high performance computing industry.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 6:01 pm

ZUO

Zuora's stock (ZUO) experienced a significant increase in trading volume after being highlighted as a pick in a popular microcap newsletter. This has caught the attention of traders and investors, leading to increased activity around the stock.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 6:01 pm

LYFT

Lyft has seen a significant amount of options trading activity, with an equal split between bullish and bearish sentiments among investors. The trading volume and open interest suggest a price range of $16.0 to $22.0 for Lyft shares. The largest trades observed indicate a mix of bearish calls and bullish puts, with notable trades focusing on strike prices between $17.00 and $22.00. Lyft's stock is currently up 1.42% at $17.45, with neutral RSI indicators and upcoming earnings expected in 1 day. Analyst ratings from Wells Fargo, Morgan Stanley, and Tigress Financial offer varied target prices, from $13 to $24.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 6:01 pm

NOW

ServiceNow (NYSE:NOW) has seen significant bullish activity in its options market, with 24 unusual trades indicating a bullish sentiment among traders. The analysis shows a majority of trades are calls, suggesting expectations for the stock to rise, with a price window targeted between $600.0 to $1140.0. Notable options activity includes various bullish calls with expiration dates in 2024. The company's current market performance shows a 1.1% increase in stock price to $724.55, with neutral RSI indicators. Analysts have issued positive ratings with target prices ranging from $825 to $950, reflecting optimism about the company's future performance.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 6:01 pm

OHI

Omega Healthcare Invts (NYSE:OHI) has received mixed analyst ratings over the past three months, with a recent shift towards a more positive outlook. Four analysts have provided ratings, with an updated average 12-month price target of $33.00, up from $31.33. The ratings range from 'Buy' to 'Neutral', with price targets adjusted upwards by analysts from Truist Securities, Citigroup, Wells Fargo, and Exane BNP Paribas. Omega's financial performance shows strong revenue growth, exceptional net margin, and efficient asset and equity management, indicating a positive trend for the company.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 6:00 pm