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OXY

Occidental Petroleum plans to increase Permian production in the second half of the year while reducing the number of rigs. Operating costs in the Gulf of Mexico are expected to recover in Q3. The CEO reports high interest from potential buyers for its assets on sale.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 7:06 pm

RDDT

Reddit Inc (NYSE:RDDT) shares surged 14% after its first quarterly earnings post-IPO showed a loss per share better than expected and a 48% revenue increase year-over-year. Despite a net loss of $575.1 million mainly due to IPO-related expenses, the company's ad revenue growth and potential in AI licensing were highlighted as key growth drivers. The discussion on Reddit also touched on the platform's use of user data for AI training and the skepticism about its future profitability.

Portfolio Pulse from Surbhi Jain

May 08, 2024 | 7:05 pm

STXUSD

Cryptocurrency Stacks (STX) experienced a 4.63% decrease in price over the last 24 hours, marking a continuation of its downward trend with a total decrease of 2.0% over the past week. The trading volume for STX has decreased by 71.0%, while its circulating supply has increased by 0.38%. Currently, STX's market cap ranks it at #39 with a value of $3.10 billion.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:02 pm

FWRG

First Watch Restaurant Gr (NASDAQ:FWRG) has been analyzed by 8 analysts, showing a mix of ratings from bullish to indifferent. The average 12-month price target is now $26.75, up 14.32% from the previous $23.40. Recent actions include adjustments to ratings and price targets by analysts from Barclays, TD Cowen, Stifel, and Citigroup. The company, known for its daytime restaurant concept, has shown a revenue growth of 31.7% as of December 31, 2023, but struggles with profitability and efficiency metrics compared to industry averages.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:01 pm

ICPUSD

Internet Computer's cryptocurrency (ICP) has seen a decline of 3.81% in the last 24 hours, bringing its price to $12.23. This drop is part of a larger negative trend over the past week, with a total decrease of 7.0% from $13.22. The trading volume for ICP has also decreased by 51.0% over the same period, while its circulating supply has slightly decreased by 0.13%, resulting in a current market cap of $5.71 billion, ranking it 22nd.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:01 pm

MO

Altria Group (NYSE:MO) has seen unusual options activity indicating a mixed sentiment among big-money traders, with a bearish lean. Benzinga's options scanner revealed 8 significant trades, with a sentiment split of 37% bullish and 62% bearish. The trades include 2 puts and 6 calls, with a focus on strike prices between $30.0 and $50.0. The largest trades suggest expectations of price movements within this range. Altria, a leading tobacco company with interests in cannabis and brewing, has seen its stock price slightly increase, with potential overbought indicators.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:00 pm

DK

Delek US Holdings (NYSE:DK) has been analyzed by 7 analysts, showing a consensus towards an indifferent stance with 5 neutral ratings, 2 somewhat bearish, and no bullish opinions. The average 12-month price target for DK has been raised to $28.57, indicating a 6.37% increase from the previous target. Analyst actions include both upgrades and downgrades, reflecting varied expectations for the company's performance. Despite the financial challenges such as a revenue decline of -9.6%, a net margin of -4.07%, and a high debt-to-equity ratio of 3.27, analysts have adjusted their price targets based on recent developments.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:00 pm

ADAUSD

Cardano (CRYPTO: ADA) has seen a 3.21% increase in price over the last 24 hours, reaching $0.46. This is part of a positive trend over the past week, with a 1.0% gain from $0.46. The trading volume for ADA has decreased by 15% over the past week, and its circulating supply has decreased by 0.18% to over 35.34 billion, which is 78.53% of its max supply. ADA's market cap is now $16.40 billion, ranking it #11.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:00 pm

UBER

Uber Technologies Inc (NYSE:UBER) reported a 15% revenue increase in Q1 2024 compared to the previous year, but faced a substantial net loss of $654 million and missed operating profit expectations, leading to an 8% drop in stock price. Despite regulatory challenges and a significant net loss, the company's user base and trip numbers grew, and Uber remains optimistic about future revenue projections.

Portfolio Pulse from Zaheer Anwari

May 08, 2024 | 6:59 pm

GSK

PFE

SNY

Pfizer Inc has settled 10,000 lawsuits related to its discontinued heartburn medication Zantac over allegations of concealing cancer risks. The financial details of the settlements are undisclosed. This resolution does not fully absolve Pfizer from Zantac-related legal challenges. The litigation has previously impacted the market value of involved drugmakers, including Sanofi SA and GSK Plc, with a collective loss of about $45 billion in 2022. Sanofi and GSK have also made moves to settle Zantac-related lawsuits.

Portfolio Pulse from Vandana Singh

May 08, 2024 | 6:58 pm