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JNJ

KVUE

The WHO is set to issue a global alert about contaminated Johnson & Johnson children's cough syrup, with tainted batches found in Nigeria. The issue traces back to a batch from South Africa, now under Kenvue Inc's purview after a spin-off. Despite the recall in six African countries, no adverse effects have been reported. Investigations are ongoing, with a focus on raw material sources and potential counterfeits. JNJ shares slightly rose by 0.35%.

Portfolio Pulse from Vandana Singh

April 19, 2024 | 2:17 pm

JBL

Jabil's CEO has been placed on paid leave pending an investigation related to corporate policies, causing Jabil shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:15 pm

PSTG

Pure Storage's stock (PSTG) trades lower following a downgrade by Raymond James from Strong Buy to Outperform, despite an increase in the price target from $52 to $63.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:14 pm

APO

PARA

RPV

RSPC

SONY

Paramount Global (NASDAQ:PARA) shares are rising after reports emerged that Sony Group Corporation (NYSE:SONY) and Apollo Global Management, Inc. (NYSE:APO) are considering a bid for the company. Despite Paramount's current exclusive negotiations with Skydance Media, the potential offer would involve purchasing all outstanding Paramount shares, aiming to privatize the company. Apollo previously made a $26 billion bid for Paramount and a separate $11 billion offer for its film studio. The joint bid with Sony would see Sony Pictures managing Paramount and its film library, while Apollo would take over CBS and local TV stations. PARA stock has dropped over 51% in the past year but saw a 9.9% increase to $12.04 recently. Investors can also gain exposure to PARA through Invesco S&P 500 Equal Weight Communication Services ETF (NYSE:RSPC) and Invesco S&P 500 Pure Value ETF (NYSE:RPV).

Portfolio Pulse from Nabaparna Bhattacharya

April 19, 2024 | 2:10 pm

TRSG

Trading for the IPO security of TRSG was halted but has now resumed as of 10:10:00 AM ET.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:10 pm

RWOD

Redwoods Acquisition Corp. (RWOD) shares surged after shareholders approved a merger with Anew Medical, changing its name to Anew Medical post-transaction. The deal, valued at $94 million, is expected to provide $54 million in cash proceeds. RWOD's stock has declined over 22% in the past year but jumped 53.80% to $12.30 recently. Last year, RWOD received a delinquency notice from Nasdaq for not filing its Q1 report on time.

Portfolio Pulse from Nabaparna Bhattacharya

April 19, 2024 | 2:09 pm

FITB

Fifth Third Bancorp's shares surged following the announcement of their Q1 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:08 pm

MSTR

MicroStrategy (NASDAQ:MSTR) has seen unusual options activity, indicating deep-pocketed investors' divided sentiment, with 54% bullish and 45% bearish. The activity spans a price band between $910 and $3800. Notable trades include bullish and bearish positions with significant total trade prices. MicroStrategy, a provider of enterprise analytics and mobility software, has its stock price up 3.38% at $1249.0. Analysts have set an average price target of $1828.33, with ratings ranging from Buy to Hold. The next earnings are expected in 10 days.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 2:04 pm

WFC

Deep-pocketed investors have shown a bearish sentiment towards Wells Fargo (NYSE:WFC), with a significant move in options trading detected by Benzinga. The activity includes 19 extraordinary options activities, with a bearish majority. The targeted price range for WFC over the last 3 months is between $37.5 and $62.5. The trading volume and RSI indicators suggest that WFC may be approaching overbought territory, with its stock price recently up by 1.34% at $59.53.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 2:03 pm

WAL

Analysts have provided mixed evaluations of Western Alliance (NYSE:WAL) with a recent average price target of $79.08, reflecting a 1.51% increase from the previous target. The company faces revenue challenges with a -10.31% decline over 3 months but excels in net margin and ROE. Debt management remains a concern with a higher debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 2:01 pm