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CDNS

Cadence Design Sys Inc. (NASDAQ:CDNS) stock is currently priced at $311.12, reflecting a slight decrease of 0.07% in the current market session. Despite this, the stock has seen a 2.21% increase over the past month and a significant 48.08% increase over the past year. The company's P/E ratio is lower than the Software industry's aggregate P/E of 113.9, suggesting that it might be undervalued or that shareholders have conservative future growth expectations. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for a comprehensive investment decision.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 6:30 pm

AMGN

Raymond James has resumed coverage of Amgen Inc (NASDAQ:AMGN), highlighting its diversified portfolio across various therapeutic areas, which is expected to drive long-term growth. Recent deals, like the Horizon deal, and successful product launches have strengthened its position, particularly in rare diseases. However, concerns about the durability of flagship products and market challenges persist. The company's innovative pipeline in oncology, rare diseases, and obesity shows promise despite uncertainties. The FDA's review of Lumakras and the requirement for an additional study by 2028 are noted. Despite challenges, Amgen's confidence in sustaining margins remains, with the stock's risk-reward balance appearing stable.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 6:28 pm

ATAT

Atour Lifestyle Holdings' shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:27 pm

MRK

Recent unusual options activity in Merck & Co (NYSE:MRK) indicates a bullish sentiment among deep-pocketed investors, with a notable division in sentiment (54% bullish, 45% bearish). The activity includes 11 extraordinary options activities, with 9 puts and 2 calls, aiming for a price range of $100.0 to $130.0. Current trading volume is 4,072,408 with the price at $131.75. Analyst opinions vary, with an average target price of $130.2 and ratings ranging from Sell to Overweight.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 6:16 pm

VLO

Valero Energy (NYSE:VLO) has seen a mix of bullish and bearish options trading, with a notable lean towards bullish sentiment. Analysis of 12 unusual trades shows an even split in trader sentiment, but with a higher value placed on calls ($1,282,241) compared to puts ($64,225). The options market predicts a price range of $125 to $230 for VLO. The stock is currently up 1.35% at $170.08, with some analysts suggesting it may be overbought. Professional analysts have set an average price target of $184.4, with ratings ranging from Sell to Buy.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 6:16 pm

KMB

Piper Sandler analyst Korinne Wolfmeyer has reiterated an Overweight rating on Kimberly-Clark Corp (NYSE:KMB) and increased the price target from $145 to $152. The company is adopting a new operating model to accelerate innovation, optimize costs, and reorganize into three business segments. Expected savings of $200 million over the next two years will be reinvested into the business. Strategies include focusing on low private-label penetration categories, global scaling of innovations, and mergers & acquisitions. The company aims for 3%+ top line growth, margin expansion, and more than $2 billion in annual free cash flow, supporting dividend growth and share repurchases. KMB shares rose 1.91% to $129.71.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 6:12 pm

AVTX

KOD

PMEC

Kodiak Sciences Inc. shares fell by around 20% after reporting a wider-than-expected Q4 loss. Other stocks showed significant movement, with Avalo Therapeutics leading gainers with a 430% jump after acquiring a Phase 2-ready anti-IL-1β mAb and announcing a private placement financing. Losers included Primech Holdings, falling 46.7% after issuing financial updates. The market saw a mix of positive and negative movements across various sectors.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 6:08 pm

TOST

Toast, Inc. (TOST) shares experienced increased trading volume after traders began circulating news that the stock was mentioned as a buy on Investor Business Daily's SwingTrader platform.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:03 pm

ABT

Abbott Laboratories (NYSE:ABT) has seen a 12.16% increase in short percent of float since its last report, with 14.29 million shares sold short, representing 0.83% of available shares. This indicates a bearish sentiment among investors, although it's not a definitive predictor of stock movement. Compared to its peers, ABT has a lower short interest percentage of float (0.83% vs. peer average of 4.39%), suggesting less bearish sentiment relative to its peer group.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 6:00 pm

WDAY

Workday (NYSE:WDAY) has seen a decrease in short interest, now at 2.83 million shares or 1.36% of float, down 8.72% since the last report. This indicates a more bullish sentiment among investors. Compared to its peers, Workday has a lower short interest percentage of 1.36% versus the peer group average of 4.07%. Short interest is a key indicator of market sentiment, and a decrease suggests investors are less bearish on the stock.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 6:00 pm