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WuXi AppTec and its affiliates face a setback as the Biotechnology Innovation Organization (BIO) cuts ties amid Congressional scrutiny over national security concerns. This decision affects U.S. industry giants like Eli Lilly, Merck, and Johnson & Johnson, all members of BIO. WuXi AppTec's shares fell significantly in Hong Kong and Shanghai, as did those of its sister companies, WuXi Biologics and WuXi XDC Cayman. The scrutiny stems from proposed bills aiming to restrict federal engagement with certain Chinese biotech firms. WuXi AppTec denies allegations related to national security risks.

Portfolio Pulse from Vandana Singh

March 14, 2024 | 8:03 pm

META

NVDA

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TSLA

Tesla Inc (TSLA) has become the worst-performing stock in the S&P 500 Index year-to-date in 2024, down 34.4%, amidst concerns of slower EV demand and production issues. Analysts have downgraded the stock and lowered price targets, with UBS cutting its price target from $225 to $165 and Wells Fargo from $200 to $125. The SPDR S&P 500 ETF Trust (SPY) is up 8.3% YTD, supported by the Magnificent 7 stocks, despite Tesla's underperformance. Other notable performers include Nvidia (NVDA) and Meta Platforms (META), with significant gains.

Portfolio Pulse from Chris Katje

March 14, 2024 | 8:02 pm

ELF

Investors have shown a bearish stance on e.l.f. Beauty (NYSE:ELF), with options trading indicating a split sentiment of 30% bullish and 69% bearish. Uncommon options trades were spotted, with a notable volume in calls over puts. The targeted price range for ELF over the last 3 months is between $100.0 to $270.0. Currently, ELF's stock price is up by 0.77% at $208.0, with analysts giving an average target price of $223.0. The RSI suggests ELF may be approaching overbought territory.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 8:01 pm

OC

Owens-Corning (NYSE:OC) has significantly outperformed the market with an annualized return of 27.14% over the past 5 years, turning a $100 investment into $328.04 today. The company's market capitalization stands at $14.12 billion.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 8:00 pm

VRT

Vertiv Hldgs (NYSE:VRT) has significantly outperformed the market with an annualized return of 49.31% over the past 5 years, growing a $1000 investment to $7,413.41. The company now has a market capitalization of $28.13 billion.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 8:00 pm

DKS

Williams Trading analyst Sam Poser upgrades Dick's Sporting Goods (DKS) from Hold to Buy and increases the price target from $154 to $235.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:58 pm

GRFS

Grifols shares are trading lower following credit rating downgrades by Fitch and S&P.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:57 pm

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Shares of companies in the financial sector are down due to market weakness after disappointing February PPI data.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:53 pm

AFRM

Affirm Holdings' stock is trading lower, potentially due to overall market weakness following the release of February's Producer Price Index (PPI) data.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:53 pm

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USB

Banking sector stocks are down due to overall market weakness triggered by disappointing February PPI data.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:50 pm