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BMRN

Biomarin Pharmaceutical (NYSE:BMRN) has seen a decrease in short interest, now at 1.58% of float, lower than its peer group average of 5.90%. This reduction in short interest, from 2.96 million shares, suggests a more bullish sentiment among investors. It takes approximately 2.33 days for traders to cover their short positions, indicating moderate liquidity.

Portfolio Pulse from Benzinga Insights

April 03, 2024 | 6:00 pm

ABIO

CASA

ULTA

VIEW

Ulta Beauty, Inc. (ULTA) shares fell by 13.7% following a weak outlook presented at the J.P. Morgan Retail Roundup. Other stocks experienced significant movements, with ARCA biopharma, Inc. (ABIO) and Kintara Therapeutics, Inc. (KTRA) seeing substantial gains due to merger agreements. Vanda Pharmaceuticals Inc. (VNDA) and VivoPower International PLC (VVPR) also saw notable increases. On the downside, Casa Systems, Inc. (CASA) and View, Inc. (VIEW) plummeted after filing for Chapter 11 bankruptcy.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 5:56 pm

SOFI

SoFi Technologies Inc (NASDAQ:SOFI) has been highlighted as a 'long-term winner' in the digital lending and neobank space by Needham analyst Kyle Peterson, who initiated coverage with a Buy rating and a $10 price target. The company's focus on prime borrowers and its full banking license, acquired through the purchase of Golden Pacific in 2022, are seen as key advantages. Shares of SoFi rose 3.82% to $7.48 following the announcement.

Portfolio Pulse from Priya Nigam

April 03, 2024 | 5:55 pm

COIN

Coinbase shares are experiencing an uptick as part of a broader recovery in cryptocurrency-related stocks. Financial services firm Keefe, Bruyette & Woods has reaffirmed its Market Perform rating for Coinbase but increased its price target for the stock from $160 to $230.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:53 pm

CRM

FDTX

FEPI

Salesforce, Inc. (NYSE:CRM) has selected Ironclad as its contract lifecycle management (CLM) platform to streamline contracting processes, improve deal velocity, and provide valuable insights for its teams. The integration allows for data synchronization between contract data and customer relationship data. After a successful pilot, Salesforce expanded Ironclad's use companywide. Additionally, Salesforce gained attention for a branding event with nearly 900 individuals dressed as Albert Einstein, highlighting its AI features. The stock has gained 55% over the past year, and investors can gain exposure through REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI) and Fidelity Disruptive Technology ETF (NASDAQ:FDTX). CRM shares are up 0.47% to $305.42.

Portfolio Pulse from Nabaparna Bhattacharya

April 03, 2024 | 5:51 pm

VLO

Valero Energy's stock price increased following price target upgrades by analysts at Barclays and Piper Sandler.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:50 pm

MPC

Marathon Petroleum's stock is experiencing an uptick due to the increase in oil prices.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:49 pm

ADPT

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) announced a strategic restructuring into two businesses, MRD and IM, with dedicated resources and separate reporting. The company aims to preserve its strong capital position, bridging MRD to profitability and supporting IM investments. Preliminary Q1 FY2024 sales are expected to exceed consensus, with significant year-over-year growth in MRD revenue. CFO Tycho Peterson will depart, succeeded by Kyle Piskel. Despite external challenges, maintaining both businesses is seen as offering long-term valuation upside, with William Blair reiterating an Outperform rating. ADPT shares dropped 7.05% to $2.77.

Portfolio Pulse from Vandana Singh

April 03, 2024 | 5:42 pm

SPXL

SPXS

SPY

The SPDR S&P 500 ETF (SPY) rose by 0.3% amid optimism for Federal Reserve rate cuts, respecting a rising channel pattern. Bullish indicators have led to a 10% surge in SPY in the first quarter. Traders can use Direxion Daily S&P 500 Bull 3X Shares (SPXL) for bullish positions and Direxion Daily S&P 500 Bear 3X Shares (SPXS) for bearish positions, both tracking SPY movements with 300% leverage. Leveraged ETFs are recommended for short-term trading.

Portfolio Pulse from Melanie Schaffer

April 03, 2024 | 5:41 pm

DIS

Disney shares are trading lower following the re-election of its current slate of directors, rejecting nominees from Trian.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:41 pm