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RENT

Rent The Runway shares have resumed trading, indicating a potential shift in market dynamics for the company.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 1:57 pm

RENT

Shares of Rent The Runway (RENT) were halted due to a circuit breaker after surging 99.5%, indicating a significant upward movement in the stock price.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 1:52 pm

HART

LUXX

NKE

Nike, Inc. (NYSE:NKE) shares rose after launching Olympic kits and receiving an upgrade from BofA Securities from Neutral to Buy with a price target increase from $110 to $113. The company aims to leverage the Olympics to boost sales of its performance products, including the Alphafly 3 marathon shoe and Pegasus shoe range. Nike plans to outfit teams from various countries in different sports. The company also reported a slight year-over-year increase in third-quarter revenue, beating consensus estimates. Exposure to Nike's stock can also be gained through IQ Healthy Hearts ETF (NYSE:HART) and Listed Funds Trust Roundhill S&P Global Luxury ETF (NYSE:LUXX).

Portfolio Pulse from Lekha Gupta

April 11, 2024 | 1:45 pm

SUM

Summit Materials (NYSE:SUM) has seen a decrease in short interest, now at 2.65% of its float, down 7.02% from the last report. With 4.27 million shares sold short, it would take about 3.25 days to cover all short positions. This change in short interest could indicate a shift in market sentiment towards the stock. Compared to its peers, SUM has a higher short interest percentage, suggesting more bearish sentiment among investors relative to its peer group.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 1:45 pm

RGA

Reinsurance Gr (NYSE:RGA) has seen an 18.6% increase in short interest since its last report, with 522 thousand shares now sold short, representing 1.02% of its available trading shares. It would take about 1.44 days to cover all short positions. This rise in short interest can indicate a more bearish market sentiment towards RGA, although it has less short interest compared to its peer group average of 2.44%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on its decline.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 1:45 pm

TMHC

Taylor Morrison Home (NYSE:TMHC) has seen a 22.87% increase in short percent of float since its last report, with 3.05 million shares sold short, representing 4.03% of available shares. This indicates a bearish market sentiment, although it's below the peer group average of 6.36% short interest. The article suggests that an increase in short interest doesn't necessarily predict a stock price fall.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 1:45 pm

AAPL

Wedbush's Dan Ives is optimistic about Apple Inc.'s (NASDAQ:AAPL) future in China despite current struggles, citing steady iPhone production and strong performance in other key markets. Ives highlights potential growth catalysts including AI announcements and a stronger iPhone upgrade cycle, maintaining an 'Outperform' rating with a $250 price target. Apple faces competition and geopolitical challenges in China but is taking steps like shifting manufacturing to India.

Portfolio Pulse from Rounak Jain

April 11, 2024 | 1:43 pm

APVO

ELYM

ENLV

RENT

RLYB

U.S. stocks traded higher with the Nasdaq gaining over 50 points following the release of March's Producer Price Index (PPI) data, which showed a 0.2% increase, below analysts' expectations of 0.3%. Rallybio Corporation announced a collaboration with Johnson & Johnson, causing its shares to surge 95%. Eliem Therapeutics announced an acquisition agreement with Tenet and a $120 million private placement, leading to a 60% increase in its shares. Rent the Runway reported mixed Q4 results but provided positive guidance, boosting its shares by 46%. Conversely, Aptevo Therapeutics and Enlivex Therapeutics saw significant drops in their share prices after announcing a public offering and Phase II trial results, respectively.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 1:41 pm

GOOG

GOOGL

IXP

META

VOX

Google, a subsidiary of Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), has announced a $1 billion investment in two new subsea cables, Proa and Taihei, to enhance digital connectivity between the U.S. and Japan, including several Pacific island nations. This initiative supports broader efforts to strengthen secure and resilient networks in the Pacific, aligning with U.S. and Japanese government objectives. Partnerships with Japanese companies and others in the region are part of this strategic investment. Additionally, Google's stock and related ETFs, such as Vanguard Communication Services ETF (NYSE:VOX) and iShares Global Comm Services ETF (NYSE:IXP), could see impacts from this development.

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 1:40 pm

ABR

Wedbush analyst Jay McCanless downgraded Arbor Realty Trust (ABR) from Outperform to Neutral and reduced the price target from $17 to $13, indicating a more cautious outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 1:34 pm