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SMMT

Summit Therapeutics shares are trading higher after the company's Phase III HARMONi-2 trial met its primary endpoint.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:40 pm

PSTG

Pure Storage, Inc. (NYSE:PSTG) shares are trading higher following the company's quarterly earnings announcement. The company reported better-than-expected adjusted EPS and sales for Q1 of fiscal-year 2025 and issued positive guidance for Q2 and the full fiscal year. Several analysts have raised their price targets for the stock.

Portfolio Pulse from Dylan Berman

May 30, 2024 | 6:39 pm

HRL

Hormel Foods shares are trading lower following Q2 earnings. The stock initially gained but has reversed.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:33 pm

MRK

SMMT

Summit Therapeutics announced that its Phase III trial HARMONi-2 met the primary endpoint of progression-free survival (PFS) for Ivonescimab in advanced NSCLC with PD-L1 expression. Ivonescimab is the first drug to show a clinically meaningful benefit over Pembrolizumab in a randomized Phase III clinical trial for NSCLC. The full data set will be presented at a major medical conference later this year.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:31 pm

PFE

Investors have taken a predominantly bearish stance on Pfizer (NYSE:PFE) as observed through recent options trading activity. Benzinga's options scanner detected 10 significant trades, with 90% of the sentiment being bearish. The trades suggest a targeted price range of $20.0 to $30.0 for Pfizer over the next few months. Analysts have mixed ratings, with price targets ranging from $29 to $36.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:31 pm

CAT

Caterpillar (NYSE:CAT) has outperformed the market over the past 10 years with an average annual return of 12.57%, surpassing the market by 2.07% annually. A $1000 investment in CAT 10 years ago would be worth $3,262.32 today.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:30 pm

ATI

ATI (NYSE:ATI) has significantly outperformed the market over the past 5 years, delivering an average annual return of 20.82%. A $1000 investment in ATI 5 years ago would be worth $2,768.67 today. The article highlights the power of compounded returns.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:30 pm

QCOM

Qualcomm's CFO announced a new focus on on-device AI, marking a significant shift from their traditional wireless technology. The company introduced the Snapdragon X elite platform for PCs and highlighted the role of AI in the automotive industry.

Portfolio Pulse from Abbey Higginbotham

May 30, 2024 | 6:29 pm

SPY

Federal Reserve's John Williams stated that the central bank has time to assess incoming data before making any policy changes. He emphasized that the market understands the Fed's outlook shifts with new data and mentioned that the neutral rate of interest remains uncertain.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:27 pm

CRM

NVDA

Jim Cramer attributes the recent 20% drop in Salesforce (CRM) stock to the rapid advancement of AI, particularly driven by Nvidia (NVDA). Salesforce reported its first revenue miss in over a decade and issued weak guidance for the next quarter. Cramer suggests that companies are reassessing their software spending due to the potential for AI to reduce the need for human labor.

Portfolio Pulse from Adam Eckert

May 30, 2024 | 6:26 pm