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U.S. stocks traded higher with the Nasdaq Composite gaining around 1%. Intuit shares fell 8% despite better-than-expected earnings due to weak guidance. Akanda Corp. shares surged 70% after a reverse stock split. Merus N.V. shares rose 37% following a positive abstract publication. Deckers Outdoor Corporation shares increased 13% on strong quarterly results. Verastem, Inc. shares dropped 61% after initiating a rolling NDA submission. TriSalus Life Sciences shares fell 26% following an exchange offer announcement. Genelux Corporation shares declined 45% after pricing a $27.5 million stock offering.

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 4:07 pm

CAVA

Cava shares are trading higher after Stifel raised its price target on the stock from $66 to $90.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:07 pm

LION

Lionsgate Studios shares are trading lower after the company reported Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:06 pm

BABA

PDD

PDD Holdings (NASDAQ: PDD) stock surged after Goldman Sachs upgraded it from Neutral to Buy, raising the price target from $145 to $184. Analyst Ronald Keung cited improved Temu economics and sustained advertising revenue growth. The stock gained 3.12% to $158.35.

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 4:05 pm

ARDX

Ardelyx shares are under scrutiny as traders circulate a note from Piper indicating that the departure of the COO is 'not a positive' development.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:03 pm

PANW

Palo Alto Networks shares are trading lower after a decline earlier in the week following their quarterly earnings report. RBC Capital reiterated its Outperform rating on the stock.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:01 pm

APA

In the last three months, 21 analysts have published ratings on APA (NASDAQ:APA), showing a range of perspectives from bullish to bearish. The average 12-month price target is $40.95, reflecting a 2.22% increase from the previous average. Recent analyst actions include both raises and lowers in ratings and price targets, indicating mixed sentiments. APA faces challenges in revenue growth and net margin but shows strong return on equity.

Portfolio Pulse from Benzinga Insights

May 24, 2024 | 4:01 pm

SYM

Symbotic (NYSE:SYM) has seen a 13.74% increase in its short percent of float, now at 24.42% of all regular shares available for trading. This high short interest suggests bearish sentiment among investors, although it doesn't guarantee a near-term price drop. Compared to its peers, Symbotic's short interest is significantly higher, with the peer group average at 4.01%.

Portfolio Pulse from Benzinga Insights

May 24, 2024 | 4:00 pm

HWM

Howmet Aerospace (NYSE:HWM) has seen a 13.18% increase in its short percent of float, now at 2.49%. This indicates a bearish sentiment among investors, although it doesn't necessarily predict a near-term price drop. The company's short interest is higher than its peers, which average 2.36%.

Portfolio Pulse from Benzinga Insights

May 24, 2024 | 4:00 pm

CTRA

20 analysts have recently published ratings on Coterra Energy (NYSE:CTRA), with a mix of bullish and somewhat bullish sentiments. The average 12-month price target has increased to $33.4, reflecting a 5.6% rise from the previous target. Key financial indicators show a decline in revenue but strong profitability and effective cost management.

Portfolio Pulse from Benzinga Insights

May 24, 2024 | 4:00 pm