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LLY

Eli Lilly (NYSE:LLY) is acquiring a manufacturing facility from Nexus Pharmaceuticals to expand its parenteral product manufacturing and address the supply-demand gap for its GLP-1 drugs Zepbound and Mounjaro. The facility, located in Pleasant Prairie, Wisconsin, will support increased demand for Lilly's medicines, with production expected to begin by the end of 2025. This move comes as Lilly faces a supply crunch for Zepbound and Mounjaro, with limited supplies expected through the second quarter of this year. Lilly's investments aim to increase production throughout 2024 and beyond, with the drugs expected to be available from a new North Carolina facility in January 2025.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 6:21 pm

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U.S. stocks are set to break a six-day losing streak with major indices trading higher ahead of key earnings reports from Visa, Tesla, Meta Platforms, Microsoft, and Alphabet. Gold and silver prices dropped significantly, while Bitcoin rose above $66,000. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust all saw gains. Ford Motor and Wolfspeed Inc. experienced notable stock movements due to upcoming earnings and activist investor actions, respectively. Informatica Inc. dropped after denying acquisition talks, and Cardinal Health fell following contract renewal news with UnitedHealth Group's OptumRx.

Portfolio Pulse from Piero Cingari

April 22, 2024 | 6:16 pm

ADBE

Adobe's (NYSE:ADBE) short interest has increased by 10.43% since the last report, with 5.69 million shares sold short, representing 1.27% of its float. This indicates a bearish market sentiment, although it's below the peer group average of 4.47%. The coverage time for these short positions is approximately 1.18 days based on trading volume.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:15 pm

YUM

Yum Brands (NYSE:YUM) has seen a 4.98% increase in short percent of float since its last report, with 7.10 million shares sold short, representing 2.53% of available shares. This indicates a bearish market sentiment towards YUM, although it has less short interest compared to its peers' average of 9.49%. The rise in short interest suggests caution but doesn't necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:15 pm

CHX

ChampionX (NYSE:CHX) has seen a decrease in short interest, now at 5.38% of float, lower than its peer group average of 6.88%. The short interest fell 9.73% since the last report, with 7.81 million shares sold short. It would take about 6.94 days to cover all short positions, indicating a potential shift in market sentiment towards the stock.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:15 pm

HEPA

Hepion Pharmaceuticals Inc. (NASDAQ:HEPA) announced the winding down of its ASCEND-NASH Trial due to resource constraints, despite no safety concerns observed with rencofilstat. The trial's halt and exploration of strategic alternatives have led to a 28.5% drop in HEPA shares to $1.44.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 6:14 pm

BTCUSD

Bitcoin's performance is under debate with analysts predicting either fresh highs within two weeks or a potential decline. DonAlt sees a possible further drop after a brief washout below $60,000, while Bluntz Capital predicts a new all-time high around $120,000 soon. Large transaction volumes and daily active addresses have surged, indicating increased market activity. Bitcoin was trading at $66,577, up 2.8%.

Portfolio Pulse from Khyathi Dalal

April 22, 2024 | 6:11 pm

COP

ConocoPhillips (NYSE:COP) has delivered an average annual return of 15.65% over the past 5 years, outperforming the market by 4.39%. A $1000 investment in COP 5 years ago would be worth $2,030.09 today. The company's market capitalization stands at $152.09 billion.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:01 pm

PGR

Over the past 20 years, Progressive (NYSE:PGR) has produced an average annual return of 12.11%, outperforming the market by 4.34% annually. A $1000 investment in PGR 20 years ago would be worth $9,931.99 today. Progressive's market capitalization currently stands at $125.71 billion.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:01 pm

SLN

Silence Therapeutics (NASDAQ:SLN) has received mixed analyst ratings over the past quarter, with a shift from bullish to somewhat bullish sentiments in the last 30 days. The average 12-month price target for SLN has increased to $60.57, reflecting a 38.45% rise from the previous target. Analysts from firms like Morgan Stanley, HC Wainwright & Co., Chardan Capital, and BMO Capital have maintained or raised their ratings and price targets, indicating a positive outlook on the company's performance despite its financial challenges, including a significant revenue decline and below-average returns on equity and assets.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:00 pm