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U.S. stocks declined, with the S&P 500 dropping over 1%. Health care shares slightly rose, while information technology shares fell by 1.8%. U.S. retail sales increased by 0.7% in March. Soligenix, Longeveron, and Snap One Holdings saw significant stock increases, while Marinus Pharmaceuticals, Neumora Therapeutics, and Ultragenyx Pharmaceutical experienced notable declines.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 6:30 pm

SLB

Schlumberger's (NYSE:SLB) short interest has decreased by 8.11% since the last report, with 19.39 million shares sold short, representing 1.36% of its float. This decrease in short interest could indicate a more bullish sentiment towards SLB among traders. Compared to its peers, SLB has a lower short interest percentage of float, with the average being 7.06%.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:30 pm

XPO

$100 invested in XPO Logistics (NYSE:XPO) 5 years ago would now be worth $545.39, showcasing an annualized return of 40.15% and outperforming the market by 28.44%. XPO's market cap stands at $14.48 billion.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:30 pm

MET

MetLife's (NYSE:MET) short interest has increased to 7.36 million shares, or 1.23% of float, indicating a rise of 3.36% since the last report. This suggests a bearish market sentiment, although it's below the peer group average of 2.59%. The coverage period for these short positions is approximately 2.6 days based on current trading volumes.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:30 pm

GME

Over the past 5 years, GameStop (NYSE:GME) has outperformed the market with an annualized return of 24.58%, averaging 36.29% annually. An investment of $1000 in GME stock 5 years ago would be worth $4,638.54 today. GameStop's market capitalization stands at $3.11 billion, highlighting the significant impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:30 pm

ANF

Abercrombie & Fitch's (NYSE:ANF) short interest has decreased by 13.51% since the last report, with 4.39 million shares sold short, representing 12.29% of its float. This decrease in short interest could indicate a more bullish sentiment towards ANF among traders. Compared to its peers, ANF has a lower short interest percentage of float, with the average being 14.42%. Short interest is a key indicator of market sentiment, and a decrease suggests that investors may be becoming more optimistic about the company's future performance.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:30 pm

SONY

Sony Group Corp. (NYSE:SONY) is preparing for the launch of the PS5 Pro, a more powerful version of its PlayStation 5 console, by the end of 2024. The PS5 Pro, codenamed Trinity, features significant upgrades including enhanced ray tracing, a faster CPU at 3.85GHz, and improved system memory with a 28% increase in bandwidth. It will also introduce PlayStation Spectral Super Resolution (PSSR) technology for better frame rates and image quality. Developers are encouraged to optimize games for the PS5 Pro, which may carry a 'Trinity Enhanced' label.

Portfolio Pulse from Franca Quarneti

April 15, 2024 | 6:28 pm

AVDX

BILL

AvidXchange Holdings, Inc (NASDAQ:AVDX) shares dropped after Goldman Sachs analyst Will Nance downgraded the stock from Neutral to Sell, reducing the price target from $13 to $11.50. The downgrade was due to a significant price increase of about 31% since the Q3 earnings report, leading to a negative risk-reward balance. Despite AVDX's leadership in B2B payment digitization, concerns were raised about its valuation compared to BILL Holdings, Inc (NYSE:BILL), and aggressive growth expectations. Nance highlighted AVDX's reliance on interest rate increases and political advertising for revenue growth, suggesting limited upside and potential for multiple compression.

Portfolio Pulse from Anusuya Lahiri

April 15, 2024 | 6:21 pm

F

RIVN

TSLA

Rivian shares are trading lower, potentially due to Tesla's reported plans for layoffs and Ford's recent price reduction of the F-150 Lightning, impacting the competitive landscape for electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:19 pm

DOGE-USD

Dogecoin (CRYPTO: DOGE) experienced a 25% drop over the past week, leading traders to suggest buying opportunities in the high $0.10s. Influential traders highlighted a key resistance level at $0.17, suggesting a potential reversal if this level is breached with strong market acceptance. Despite the drop, 82% of Dogecoin holders remain in profit, though the coin's ranking slipped from eighth to ninth. Market data shows a decrease in daily active addresses and large transaction volume, indicating a cooling period that could precede a consolidation phase.

Portfolio Pulse from Khyathi Dalal

April 15, 2024 | 6:17 pm