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PAY

Paymentus Holdings' shares are experiencing an uptick, likely due to the positive momentum from their fourth-quarter financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 7:44 pm

ILMN

Illumina's stock price has decreased following reports that Carl Icahn has decided not to initiate another proxy battle with the company's board.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 7:38 pm

GOOG

GOOGL

LCID

Lucid Group Inc (LCID) is in a trademark dispute with Gravity Technologies, backed by Alphabet Inc (GOOG, GOOGL), over the name of its Gravity SUV. Gravity Technologies, which operates EV charging stations and previously ran an electric taxi fleet, filed a petition for cancellation against Lucid's vehicle trademark, citing potential consumer confusion. Lucid, facing a significant stock decline and reduced production estimates, is fighting the petition, despite the potential high costs and impact on its trademarks.

Portfolio Pulse from Chris Katje

March 12, 2024 | 7:38 pm

NVDA

NYCB

Citadel's Ken Griffin revealed that his hedge fund invested in New York Community Bancorp (NYCB) earlier this month, citing the investment was made because the price was right. Additionally, Griffin commented on the artificial intelligence (AI) sector, noting that while it's uncertain where we are in the journey of AI, Nvidia (NVDA) appears to be leading the field.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 7:38 pm

AAPL

Stephanie Link of Hightower Advisors has increased her stake in Apple Inc (AAPL), citing the stock's current valuation as a bargain. Despite a 13% drop from its highs and weak iPhone sales in China, Link believes Apple will outperform this quarter due to expected better-than-anticipated April quarter results, strong services business growth, and robust margins. She anticipates a new buyback announcement in the upcoming second-quarter results, which, along with a focus on AI at the Worldwide Developers Conference in June, could further support the stock. Apple's stock is trading at a lower P/E ratio compared to its historical average, making it an attractive investment according to Link.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 7:38 pm

SPY

Ken Griffin, CEO of Citadel, commented that the morning's inflation data was nearly in line with consensus expectations. He believes the Federal Reserve will be slower in adjusting rates than the market anticipates. Griffin also mentioned that the prospect of future rate cuts is currently driving the markets, and while Treasuries are not considered risky investments, their risk is often underappreciated.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 7:37 pm

ENPH

FSLR

NOVA

RUN

SEDG

Solar stocks are trading lower after a Bloomberg report indicated that US solar factories might not be constructed due to cheaper imports from China, rendering subsidies insufficient.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 7:35 pm

ARKK

COIN

ROKU

SARK

TARK

TSLA

The AXS 2X Innovation ETF (TARK) is trading within a symmetrical triangle pattern, influenced by its largest holding, Coinbase (COIN), which has surged 124% since Feb. 7. TARK aims to return 200% of the daily performance of the ARK Innovation ETF (ARKK), which has been supported by the Bitcoin rally. ARKK's other top holdings, Tesla (TSLA) and Roku (ROKU), have underperformed, falling about 30% each since the start of the year. TARK is expected to break from the pattern by March 18, indicating future direction. Bearish traders can consider the AXS Short Innovation Daily ETF (SARK), which inversely tracks ARKK.

Portfolio Pulse from Melanie Schaffer

March 12, 2024 | 7:34 pm

Waste Management's (NYSE:WM) short interest has decreased by 18.42%, with 3.75 million shares sold short, representing 0.93% of its float. This decline in short interest, which now requires 2.28 days on average to cover, could indicate a more bullish sentiment towards WM compared to its peers, where the average short interest is 3.08% of the float.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 7:30 pm

PACB

Pacific Biosciences (NYSE:PACB) has seen an 18.14% increase in short percent of float since its last report, with 40.38 million shares sold short, representing 16.74% of available shares. This indicates a bearish market sentiment towards PACB, although it has more short interest than its peers, with an average of 4.74% in its peer group.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 7:30 pm