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NVO

The Senate Committee on Health, Education, Labor, and Pensions is investigating Novo Nordisk's pricing strategies for its medications Ozempic and Wegovy, amid concerns over their affordability and pricing discrepancies between the U.S. and other countries. Senator Bernie Sanders has also expressed intentions to scrutinize Eli Lilly's pricing for its medications, highlighting an industry-wide issue. The potential expansion of Medicare coverage for Wegovy could significantly impact Medicare beneficiaries with heart conditions and obesity, with broader coverage possibly anticipated by 2025.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 6:14 pm

HEINY

Heineken NV (OTC:HEINY) reported a 7.2% Y/Y revenue growth in Q1 FY24, reaching 8.18 billion euros, driven by a 4.3% volume growth and a 4.9% increase in net revenue per hectolitre. Beer volume grew 4.7% organically across all regions, surpassing company expectations of 2.5%. The growth was attributed to the earlier timing of Easter and one-off effects in Vietnam and Nigeria. The company expects FY24 operating profit to grow by a low- to high-single-digit percentage, with net profit growth expected to be lower. HEINY shares rose 1.39% to $49.71.

Portfolio Pulse from Lekha Gupta

April 24, 2024 | 6:13 pm

BA

Boeing's stock price declined following Moody's downgrade of its Senior Unsecured rating from Baa2 to Baa3.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 6:10 pm

LSXMA

Citigroup analyst Jason Bazinet downgraded Liberty SiriusXM Gr (LSXMA) from Buy to Neutral and reduced the price target from $35 to $28.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 6:08 pm

BGNE

Six financial analysts have recently published diverse ratings on BeiGene (NASDAQ:BGNE), ranging from bullish to bearish, with an average 12-month price target of $212.88, a decrease from the prior target. The ratings reflect adjustments based on market dynamics and company performance. BeiGene, a biotech firm focused on cancer treatment drugs, shows significant revenue growth but struggles with profitability and efficiency metrics. The company's market capitalization and financial ratios indicate a smaller scale and conservative financial approach compared to industry peers.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 6:01 pm

CHWY

Investors have shown a bearish stance on Chewy (NYSE:CHWY), with options trading indicating a split sentiment of 20% bullish and 50% bearish. Benzinga's options scanner revealed 10 unusual trades, with a focus on a price window from $15.0 to $70.0 for Chewy. The largest trades were calls, with the most significant being a bullish call sweep for a $15.00 strike price expiring on 01/16/26, totaling $112.6K. Chewy, a leading e-commerce pet care retailer, reported $11.2 billion in 2023 sales. Currently, CHWY's stock is down by -1.63%, trading at $15.35, with an analyst from Piper Sandler maintaining a Neutral rating and a target price of $16.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 6:01 pm

OXY

Occidental Petroleum (NYSE:OXY) has seen a significant surge in options activity, indicating bullish sentiment among big-money investors. Benzinga's options scanner revealed 11 unusual trades, with a sentiment split of 63% bullish and 27% bearish. The trades suggest a target price range of $50.0 to $77.5 for OXY over the next three months. Analysts have varying views on OXY, with target prices ranging from $70 to $90. The company's stock is slightly down at $67.37, with next earnings expected in 13 days.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 6:01 pm

ADBE

Deep-pocketed investors have shown a bearish sentiment towards Adobe (NASDAQ:ADBE), with unusual options activity detected. Benzinga's options scanner revealed 13 extraordinary activities, with a bearish majority. The options trades span a price window from $430.0 to $630.0 for Adobe, indicating significant market movements may be anticipated. The trading volume for Adobe stands at 1,048,460, with a recent price increase of 1.1% to $478.09. An earnings announcement is expected in 50 days, and the RSI indicators suggest the stock may be approaching oversold conditions.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 6:01 pm

CSSE

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NCI

TDY

Teledyne Technologies shares fell by 9% after reporting disappointing Q1 financial results and cutting FY24 EPS guidance. Other stocks showed significant movement, with notable gainers including Chicken Soup for the Soul Entertainment and BranchOut Food, and losers like Neo-Concept International and iSun.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 5:57 pm

CP

Canadian Pacific Kansas City Limited (NYSE:CP) reported a 55.3% year-over-year revenue growth for Q1 2024, reaching CA$3.52 billion but missing the consensus estimate of CA$3.54 billion. The operating ratio worsened to 67.4% from 63.4%, and adjusted EPS of CA$0.93 missed the consensus by CA$0.01. Despite these misses, operating income and net cash from operations saw significant increases. However, CP's stock fell by 5.75% to $82.68, possibly due to the missed revenue and EPS expectations and increased operating ratio.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 5:51 pm