Streetbeat News

Stock Prices

CHTR

Investors have shown a mixed sentiment towards Charter Communications (NASDAQ:CHTR), with options trading revealing a 50/50 split between bullish and bearish positions. Notable trades include both puts and calls with a price target range of $200-$300. The company, a major cable provider in the U.S., is currently trading at $297.35, slightly down by 0.41%. Analysts have mixed opinions, with a consensus target price of $352.5, but recent ratings vary from Neutral to Outperform.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 3:32 pm

CVNA

REAL

RENT

RERE

ATRenew Inc. (NYSE:RERE) reported its first-ever quarterly net profit since its 2021 IPO, with shares surging 27% following the announcement. The company's revenue increased by 30% in Q4, driven by efficiencies and a significant iPhone recycling collaboration with Apple. ATRenew's diversification into other electronics and consumer products, alongside operational improvements, contributed to this milestone. The company's alignment with China's recycling priorities and expansion into global markets with its automated inspection technology further supports its growth outlook.

Portfolio Pulse from The Bamboo Works

March 20, 2024 | 3:30 pm

BMY

JNJ

LEGN

NVS

GenScript Biotech Corp. and its subsidiary Legend Biotech Corp. reported significant growth in 2023, driven by the success of the CAR-T cell therapy, Carvykti, for cancer treatment. GenScript's revenue increased by 34.2% to $840 million, and its loss decreased to $95.5 million from $230 million in 2022. Legend Biotech, in partnership with Janssen Biotech (a Johnson & Johnson subsidiary), has seen rapid sales growth for Carvykti, especially in the U.S. and Europe. The therapy's success has led to a licensing deal with Novartis and plans to expand production capacity. Despite challenges, including potential U.S.-China tensions, GenScript's diversified business and strategic partnerships position it for future growth.

Portfolio Pulse from The Bamboo Works

March 20, 2024 | 3:30 pm

IGC

IGC Pharma, Inc. Common Shares have resumed trading, indicating a potential return to normalcy for the company's stock market activities.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:26 pm

AFRM

HOOD

Affirm Holdings Inc (NASDAQ:AFRM) and Robinhood Markets Inc (NASDAQ:HOOD) stocks are trading higher in anticipation of the Federal Open Market Committee (FOMC) meeting. Investors are keen on the Fed's 'dot plot' and economic projections, which could indicate future monetary policy. Both companies, benefiting from lower interest rates, could see increased revenue and growth if the Fed adopts a dovish stance, reducing borrowing costs and stimulating consumer spending and investment.

Portfolio Pulse from Henry Khederian

March 20, 2024 | 3:24 pm

AMD

AMZN

ESPO

SPRX

AMD partners with Sony Semiconductor Solutions to enhance LiDAR technology in autonomous vehicles, leveraging AMD's adaptive computing technology. This collaboration aims to improve the performance of SSS's LiDAR systems, crucial for autonomous driving. KeyBanc analyst John Vinh noted AMD's modest growth, with a 1% month-on-month increase in processor instances, largely driven by Amazon AWS. Despite a decline in traditional server demand, AMD's outlook remains moderately optimistic. AMD's stock, which gained over 87% last year, is included in the VanEck Video Gaming And ESports ETF and Spear Alpha ETF.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 3:22 pm

AVGO

HACK

KKR

KNCT

Broadcom Inc's acquisition of VMware has raised concerns among Europe-based Cloud Infrastructure Service Providers due to changes in VMware's partnership program, including a shift to a subscription model. CISPE urges regulators to intervene, citing potential impacts on costs and competition. Meanwhile, Broadcom focuses on AI infrastructure development, expecting significant revenue from AI chip sales by 2024. The company's stock is part of the Amplify Cybersecurity ETF and Invesco Next Gen Connectivity ETF.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 3:18 pm

NOVT

Novanta (NYSE:NOVT) has seen a decrease in short interest, now at 5.03% of its float, lower than the peer group average of 8.22%. This reduction from 1.57 million shares suggests a more bullish sentiment among traders, despite the high days-to-cover ratio of 12.89.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 3:15 pm

HSY

Hershey's (NYSE:HSY) short interest has decreased to 2.58 million shares, or 1.93% of float, indicating a potential shift in market sentiment towards more bullish views. The short interest decline from 7.21% since the last report suggests less bearish betting against the company. With a peer average short interest of 4.25%, Hershey's is below its industry's average, potentially signaling stronger relative confidence in its stock.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 3:15 pm

LBRDA

Liberty Broadband's (NYSE:LBRDA) short interest has decreased by 13.38%, now representing 1.36% of its float. This decline in short interest could indicate a more bullish sentiment towards LBRDA among traders. Compared to its peers, LBRDA has a significantly lower short interest percentage, with the average for its peer group being 7.93%.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 3:15 pm