Streetbeat News

Stock Prices

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

CASA

IWC

VGT

Casa Systems, Inc. (NASDAQ:CASA) shares plummeted after announcing a Chapter 11 sale process for its businesses. The company filed for bankruptcy in Delaware and has agreements to sell its 5G and Cable businesses to Lumine Group (OTC:LMGIF) and an affiliate of Vecima Networks, Inc (OTC:VNWTF), respectively. Casa Systems aims to complete these transactions swiftly, with support from over 98% of its senior secured lenders. The company's CEO cited significant revenue and profit declines due to reduced industry capital investment and the costs of developing 5G products as reasons for the sale. Investors can access Casa Systems stock through IShares Microcap ETF (NYSE:IWC) and Vanguard Information Tech ETF (NYSE:VGT). CASA shares dropped 80.4% to $0.05.

Portfolio Pulse from Lekha Gupta

April 03, 2024 | 5:38 pm

SLVYY

David Einhorn, a notable investor, has selected Solvay SA (SLVYY) as his new stock pick, potentially influencing investor interest and stock performance.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:38 pm

LLY

NVO

Novo Nordisk A/S (NVO) faces shortages of Ozempic starter kits in Germany due to high demand for its weight-reducing effects, with limited availability expected through 2024. Meanwhile, a Chinese company, Hangzhou Jiuyuan Gene Engineering, has developed a biosimilar, Jiyoutai, potentially challenging Ozempic's market in China. Eli Lilly And Co (LLY) also experiences tight supply of its diabetes drug Mounjaro until 2024 due to high demand.

Portfolio Pulse from Vandana Singh

April 03, 2024 | 5:37 pm

EDR

Evercore ISI Group analyst Vijay Jayant downgraded Endeavor Gr Hldgs (NYSE:EDR) from Outperform to In-Line and reduced the price target from $28 to $27.5, indicating a more cautious outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:37 pm

ABBV

ESTA

GILD

INSP

MRNA

NVCR

TMDX

UNH

VKTX

Today's whale activity in the Health Care sector highlighted significant options trading across various stocks, indicating bullish, bearish, and neutral sentiments. Notable trades were observed in UNH, MRNA, TMDX, ESTA, NVCR, GILD, ABBV, VKTX, INSP, and CI, with varying expiration dates, strike prices, and sentiments. This activity could signal upcoming movements in these stocks based on the large sums of money involved and the sentiments expressed through these option trades.

Portfolio Pulse from Benzinga Insights

April 03, 2024 | 5:35 pm