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ALLY

BMI

GPC

Ally Financial Inc. reported better-than-expected quarterly earnings, leading to a 7.7% rise in its stock price. Other companies like Badger Meter and Genuine Parts also saw significant gains after positive financial results. Meanwhile, stocks like Critical Metals Corp., Canopy Growth Corporation, and Humacyte, Inc. recorded substantial increases. Trump Media & Technology Group Corp. explained shareholder actions to prevent short interest positions, contributing to its stock rise.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 5:58 pm

RUN

Sunrun shares are trading lower after a recent gain, due to reports of President Biden planning to remove the tariff exemption for bifacial solar panel imports. This policy change could potentially increase costs for companies like Sunrun that rely on such imports for their solar installations.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 5:57 pm

IMAX

Wedbush analyst Alicia Reese reiterated an Outperform rating on IMAX Corp (NYSE:IMAX) with a $22 price target, citing StreamSmart technology and global expansion as key growth drivers. The company is expected to report Q1 FY24 earnings on April 25, with anticipated revenue of $82 million and EPS of $0.15, surpassing previous estimates. IMAX's Q1 global box office on its screens reached $260 million, exceeding expectations. The analyst highlights IMAX's market share gains from the shift towards premium screens and expects less volatility due to a reduced release slate volume in 2024. IMAX's focus on local-language content and the potential of StreamSmart technology are seen as opportunities for further growth. IMAX shares rose 0.94% to $17.24.

Portfolio Pulse from Shivani Kumaresan

April 18, 2024 | 5:55 pm

NVO

Germany's Bundeskartellamt approved Novo Nordisk's acquisition of Cardior Pharmaceuticals, aiming to enhance its heart drugs pipeline. The deal, valued at up to €1.025 billion, includes Cardior's lead compound CDR132L, in phase 2 development for heart failure treatment. This acquisition is pivotal for Novo Nordisk's strategy to expand into cardiovascular disease, with CDR132L showing potential in improving heart function. The transaction is expected to close in Q2 2024, while NVO shares saw a 1.42% decline to $122.77.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:55 pm

GEV

GE Vernova's stock price increased following Evercore ISI Group's initiation of coverage with an Outperform rating and a $174 price target.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 5:49 pm

UPS

United Parcel Service (NYSE:UPS) has seen a bearish sentiment in its options market, with 77% of trades being puts. The trading activity suggests a price target range of $138 to $165. UPS's current market status shows a slight increase in stock price to $143.31, with an earnings announcement expected soon. Analyst opinions vary, with an average price target of $150 and ratings ranging from Buy to Underweight.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:46 pm

V

Deep-pocketed investors have shown a bearish sentiment towards Visa (NYSE:V), with a significant move in options trading indicating potential big changes. Benzinga's tracking revealed 12 unusual options activities, with a bearish majority of 75%. The trading suggests a price target range of $240 to $290 for Visa in the next three months. Visa's current stock price is down -0.7% at $270.78, with analysts giving mixed ratings and price targets ranging from $265 to $335. The company remains a global leader in payment processing.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:46 pm

ABBV

CERE

Cerevel Therapeutics Holdings Inc. (NASDAQ:CERE) announced positive results from its Phase 3 TEMPO-3 trial for tavapadon in Parkinson's disease, meeting its primary endpoint and showing significant improvement in 'on' time without troublesome dyskinesia. AbbVie Inc. (NYSE:ABBV) is set to acquire Cerevel for $8.7 billion, with the transaction expected to close in mid-2024. CERE shares rose 1.08% following the announcement.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:44 pm

AA

AWCMF

PWER

XME

Alcoa Corporation (NYSE:AA) received price target increases from analysts at BMO Capital Markets and Jefferies following better-than-expected Q1 FY24 results, with an EPS loss of $(0.81) and revenue of $2.60 billion. The company expects increased alumina production and shipments for FY24. The acquisition of Alumina Limited (OTC:AWCMF) for $2.2 billion is seen as beneficial. Analysts project improved EPS for FY24 and FY25, citing positive aluminum price momentum and demand across markets. SPDR S&P Metals & Mining ETF (NYSE:XME) and Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:PWER) offer exposure to Alcoa stock.

Portfolio Pulse from Lekha Gupta

April 18, 2024 | 5:42 pm

OCUL

Ocular Therapeutix Inc (NASDAQ:OCUL) announced positive Phase 1 results for Axpaxli in treating non-proliferative diabetic retinopathy without DME, showing significant improvement in DRSS scores compared to the control group. The company plans to proceed to Phase 3 trials, pending FDA discussions. Additionally, earlier Phase 2 results for Paxtrava in treating glaucoma showed sustained IOP reductions. Despite these developments, OCUL shares dropped 15.40% to $6.42.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:37 pm