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Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:18 pm

XYL

Xylem Inc. (NYSE:XYL) reported Q1 financial results surpassing expectations and raised its 2024 guidance. Adjusted earnings were 90 cents per share against an 84 cents estimate, with sales at $2.033 billion, exceeding the $1.997 billion forecast. The 2024 earnings guidance was updated to $4.10-$4.25 per share, with sales expectations of $8.5 billion. Following the announcement, Xylem's stock rose by 3.8%. Analysts from Baird, Mizuho, and Oppenheimer revised their price targets upwards.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 1:17 pm

ALCC

EQIX

FANG

LEU

The upcoming acquisition of Oklo Inc. by AltC Acquisition Corp. (NYSE:ALCC) is generating significant interest, with comparisons to the DJT stock surge post-merger. Reddit users anticipate a similar 'rocket fuel' rally for ALCC, driven by Sam Altman's involvement and the clean energy focus of Oklo. Oklo has shown strong business momentum, with partnerships and approvals bolstering its position. The special meeting for AltC stockholders to approve the merger is set for May 7, 2024.

Portfolio Pulse from Surbhi Jain

May 03, 2024 | 1:17 pm

TMO

Thermo Fisher Scientific (NYSE:TMO) has seen a 24.44% decrease in short interest, now at 2.58 million shares or 0.68% of float, indicating a bullish market sentiment. Compared to its peers' average short interest of 5.24%, TMO's lower figure suggests stronger performance or optimism among investors. Short interest is a key indicator of market sentiment, with decreases often signaling bullish outlooks.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 1:15 pm

KNSL

Kinsale Capital Group's (NYSE:KNSL) short interest has decreased by 14.17% since the last report, with 947 thousand shares sold short, representing 4.3% of its float. This indicates a bullish sentiment as it takes traders 8.11 days to cover their short positions. Compared to its peers, KNSL has a higher short interest percentage of float, suggesting more bearish sentiment among investors towards KNSL than its peers.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 1:15 pm

ABT

Abbott Laboratories (NYSE:ABT) has seen a decrease in short interest, with 14.48 million shares sold short, representing 0.84% of its float. This marks a 7.69% decline since the last report. The current short interest suggests a bullish sentiment among investors, as it is lower than the peer group average of 4.22%. Short interest is a key indicator of market sentiment, and a decrease often signals that investors are becoming more optimistic about a stock's prospects.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 1:15 pm

RIVN

Rivian shares are trading higher following the appointment of Javier Varela as Chief Operations Officer.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:13 pm

AXL

American Axle & Manufacturing Holdings Inc (AXL) reported a Q1 FY24 earnings beat with sales growth of 7.7% Y/Y to $1.61 billion, surpassing the consensus estimate of $1.525 billion. Adjusted EPS was $0.18, beating the consensus of $0.02. Gross profit increased by 23.6% Y/Y, and operating income rose by 113.3%. The company reaffirmed its FY24 sales outlook of $6.05 billion to $6.35 billion and expects adjusted EBITDA of $685 million to $750 million. AXL shares rose by 4.51% to $7.65.

Portfolio Pulse from Shivani Kumaresan

May 03, 2024 | 1:11 pm

TNC

Tennant Company has reaffirmed its fiscal year 2024 guidance, projecting net sales to be between $1.27 billion and $1.295 billion, closely aligning with analyst estimates of $1.288 billion. The company also expects its adjusted earnings per share (EPS) to range from $6.05 to $6.65, which is in line with the estimated $6.46.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:07 pm

RIVN

Rivian has announced the hiring of Javier Varela as its new Chief Operating Officer (COO). This strategic move aims to strengthen the company's operational capabilities as it scales up production and expands its market presence.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:05 pm