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IR

Ingersoll Rand's (NYSE:IR) short interest has increased by 12.8%, with 5.68 million shares sold short, representing 1.85% of its float. This indicates a bearish market sentiment, although it has less short interest compared to its peers' average of 3.31%. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearishness among traders.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:45 pm

CAN

Canaan Inc. (NYSE:CAN) has seen a 15.86% increase in short interest, now at 11.47% of its float, indicating a bearish market sentiment. With 26.87 million shares sold short, it would take about 1.95 days to cover all short positions. This rise in short interest is higher than the peer group average of 6.10%, suggesting more bearish sentiment towards Canaan compared to its peers.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:45 pm

AMC

AMC Entertainment Holdings (NYSE:AMC) saw its shares trade higher after pre-announcing Q1 financial results, surpassing revenue estimates for the 12th consecutive quarter with $951.4 million against a consensus of $861.1 million. Despite strong market share gains and potential growth in Europe, Wedbush analyst Alicia Reese remains cautious, citing AMC's heavy debt load and lack of dividends as overshadowing factors. Reese maintains a Neutral rating with a $4 price target. AMC raised over $865 million through equity sales in 2023 but faces significant debt repayments. The company's stock has declined, reflecting concerns over its financial health and the impact of Hollywood strikes.

Portfolio Pulse from Chris Katje

April 29, 2024 | 3:42 pm

EWJ

TM

The Bank of Japan intervened in the foreign exchange market to support the weakening yen, causing it to recover significantly against the dollar. This intervention led to a dip in the Nikkei 225 index, negatively impacting Japanese equities, including those tracked by the iShares MSCI Japan Index Fund (EWJ) and affecting companies like Toyota Motor Co. (TM) which benefit from a weaker yen for competitive pricing in international markets.

Portfolio Pulse from Piero Cingari

April 29, 2024 | 3:41 pm

ANVS

Annovis Bio's shares were halted due to a circuit breaker triggered by a sharp decline, with the stock plummeting by 63.6%.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:36 pm

SDA

SunCar Technology shares are trading higher following the announcement of their FY2023 results.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:35 pm

DAVE

Dave shares are trading higher following JMP Securities' initiation of coverage with a Market Outperform rating and a $70 price target.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:35 pm

ON

QCLN

SHOC

TSLA

ON Semiconductor Corp (NASDAQ: ON) reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, slightly beating the consensus of $1.85 billion. The adjusted EPS of $1.08 also surpassed the consensus of $1.04. Despite declines in certain segments, the company outperformed expectations and provided a Q2 outlook with adjusted revenue of $1.68 billion to $1.78 billion, below the consensus of $1.92 billion, and adjusted EPS of $0.86 to $0.98, against a consensus of $1.10. Analyst Harsh V. Kumar from Piper Sandler anticipates a recovery in the second half of 2024, especially in the EV market, which is expected to grow long-term. ON Semiconductor stock is trading higher by 4.23% at $70.94. Investors can also gain exposure through ETFs like QCLN and SHOC.

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 3:34 pm

CAUD

Collective Audience, Inc. (NASDAQ:CAUD) shares surged after announcing a strategic technology partnership with Insticator, aiming to enhance its ecosystem through combined technology and shared revenue models. The collaboration includes Insticator's portfolio companies OKO and Balihoo, with potential for shared ownership via an equity exchange. This deal is expected to significantly boost Collective Audience's revenue and EBITDA, especially following its planned acquisitions of DSL Digital and BeOp.

Portfolio Pulse from Lekha Gupta

April 29, 2024 | 3:32 pm

CAT

Caterpillar (NYSE:CAT) has seen a notable bullish sentiment in its options market, with 53% of traders being bullish and 23% bearish. The analysis revealed 13 unusual trades, with a focus on a price range of $280.0 to $370.0. The largest trades included both calls and puts, with varying sentiments and strike prices. Caterpillar, a leading manufacturer of heavy equipment, is currently trading at $347.73, up 1.27%, with a neutral RSI and its next earnings release in 92 days.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:31 pm