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The upcoming FOMC meeting on March 19-20, 2024, is highly anticipated, with the Fed expected to maintain interest rates at 5.25%-5.50%. Recent high inflation reports have led to reduced expectations for a June rate cut, with a 60% chance now predicted. Former St. Louis Fed President James Bullard advocates for earlier rate cuts to avoid economic damage. Bank of America's Michael Hartnett points out that tolerating higher inflation could weaken policy credibility. Despite recent inflation upticks, economists expect the Fed to stick to its plan of three rate cuts in 2024. Some experts, however, believe the Fed might delay or reduce the number of rate cuts due to stronger-than-expected economic performance.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 1:50 pm

PCAR

PACCAR Inc. shares are experiencing an uptick following an upgrade by UBS from Neutral to Buy, alongside an increase in the price target from $104 to $136.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 1:50 pm

KSS

ROST

TGT

TJX

Kohl's reported a swing to profit in Q4 but missed revenue estimates and issued weak guidance for the year ahead. The company announced a partnership with Babies R Us to combat slumping sales and attract younger shoppers. Despite a slight decline in full-year sales, Kohl's saw an improvement in gross margin and net income. TJX Companies also reported strong holiday quarter performance but provided a cautious outlook.

Portfolio Pulse from Upwallstreet

March 15, 2024 | 1:42 pm

SNGX

Soligenix (NASDAQ:SNGX) reported Q4 earnings, beating estimates with an EPS of $-0.06 versus the expected $-0.19, a 68.0% beat. However, revenue was down $160 thousand from the same period last year. Despite beating last quarter's EPS estimate, the share price dropped by 1.0% the following day.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 1:35 pm

BSVUSD

BTCUSD

ETHUSD

INJUSD

Cryptocurrency market sees a significant decline with Ethereum and Bitcoin leading the losses, trading below key levels of $3,700 and $68,000 respectively. Conflux emerges as the top gainer, while Bitcoin SV records the largest loss. The global crypto market cap drops by 6.2% to $2.57 trillion.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 1:34 pm

CIVI

Civitas Resources (NYSE:CIVI) has seen a decrease in short interest, with the short percent of float falling 6.27% to 15.4% of all shares available for trading. This indicates a potential shift in market sentiment towards the stock. Compared to its peers, CIVI has a higher short interest, suggesting more bearish sentiment among investors relative to its peer group.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 1:30 pm

TEAM

Atlassian's (NYSE:TEAM) short interest has decreased by 13.14% since the last report, with 3.21 million shares sold short, representing 2.05% of its float. This decrease in short interest could indicate a more bullish sentiment towards TEAM. Compared to its peers, Atlassian has a lower short interest percentage of float, with the average for its peer group being 3.96%.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 1:30 pm

STLD

Steel Dynamics (NYSE:STLD) has seen a 19.05% increase in short interest since its last report, with 5.18 million shares sold short, representing 4.0% of its float. This indicates a bearish sentiment among investors, although it's below the peer group average of 4.66%. The article suggests that an increase in short interest doesn't necessarily predict a price drop and can be bullish.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 1:30 pm

EBIZ

GRPN

SOCL

Groupon Inc (NASDAQ:GRPN) reported Q4 fiscal 2023 revenue of $137.7 million, surpassing consensus estimates but declining 7% Y/Y. Adjusted EPS was $0.30, beating expectations. Despite initial gains, GRPN shares later dropped. North America and International revenues fell due to decreased demand in Goods categories, with global billings and units sold also declining. However, adjusted EBITDA improved significantly, and the company's liquidity position strengthened. Analysts predict a significant downside for GRPN shares, with an average 1-year price target of $7.5, indicating a 59.02% expected downside. GRPN's stock traded lower by 3.85% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 15, 2024 | 1:29 pm

ODVWZ

Trading for ODVWZ was halted at 9:25:41 a.m. ET due to pending news. The halt is a temporary measure until the news affecting the stock is released.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 1:25 pm