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SPY

Doubleline's Jeffrey Gundlach expressed his negative outlook on 30-year Treasuries, citing concerns that the deficit could spook investors in the coming years.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 6:06 pm

FTXR

NSC

SUPP

RBC Capital Markets analyst Walter Spracklin upgraded Norfolk Southern Corporation (NYSE:NSC) to Outperform, maintaining a price target of $270. The upgrade is based on expected operational improvements and significant EPS growth through 2027. Investors can also gain exposure via TCW Transform Supply Chain ETF (BATS:SUPP) and First Trust Nasdaq Transportation ETF (NASDAQ:FTXR).

Portfolio Pulse from Lekha Gupta

May 23, 2024 | 6:01 pm

FDIS

TSLA

XLY

Tesla Inc. (NASDAQ:TSLA) has removed its target to sell 20 million vehicles annually from its latest impact report, indicating a shift in focus towards autonomy. The 2023 report highlights environmental impact, water use, and workforce initiatives but omits diversity metrics. Tesla sold 1.8 million vehicles in 2023 and plans to introduce cheaper models by late 2024. The company is also laying off over 10% of its global workforce to cut costs. Tesla stock has lost more than 7% in the last 12 months, and shares are currently trading lower by 2.91% at $174.87.

Portfolio Pulse from Shivani Kumaresan

May 23, 2024 | 5:57 pm

GTLB

A high-severity vulnerability in GitLab has been discovered, allowing attackers to take over user accounts. This flaw poses significant security risks for GitLab users and could impact the company's reputation and stock price.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 5:45 pm

TDOC

Teladoc Health (NYSE:TDOC) has seen a 4.13% increase in its short percent of float, now at 21.45% with 27.92 million shares sold short. This is significantly higher than its peers' average short interest of 5.80%. It would take traders 4.95 days to cover their short positions.

Portfolio Pulse from Benzinga Insights

May 23, 2024 | 5:45 pm

SPY

DoubleLine's Jeffrey Gundlach predicts a U.S. recession is likely to occur this year.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 5:43 pm

APIE

NGG

PID

National Grid plc (NYSE:NGG) shares are down 14.11% after the company reported a £7 billion equity raise and a year-over-year decrease in full-year revenue. Despite a 32% increase in adjusted EPS and a 4% rise in underlying operating profit, gross revenue declined by 8%. The company plans to invest £60 billion in the U.S. and U.K. over the next five years, with a comprehensive financing plan including a £7 billion equity raise. National Grid also announced its intention to sell Grain LNG and National Grid Renewables.

Portfolio Pulse from Lekha Gupta

May 23, 2024 | 5:39 pm

SPY

DoubleLine's Jeffrey Gundlach expressed concerns that the U.S. Treasury might be forced to restructure its debt in the future. He also highlighted that the Triple C bank loan market looks disastrous and that private credit appears too risky.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 5:39 pm

PFE

Pfizer Inc. (NYSE:PFE) has announced a $1.5 billion cost reduction initiative to be completed by 2027, building on a previous $4 billion plan. The initiative aims to enhance operational efficiencies and improve the product portfolio. Despite a recent 2.6% rise in share price, Pfizer's stock remains down 24% over the past year. The company has raised its annual earnings forecast and reported a better-than-expected first-quarter profit, partly due to cost reductions. Technical indicators suggest a bullish outlook for Pfizer stock in the near term.

Portfolio Pulse from Surbhi Jain

May 23, 2024 | 5:36 pm

AMZN

BABA

CVNA

CZR

GME

LOW

NKE

PDD

TSLA

The article highlights unusual options activity in the Consumer Discretionary sector, focusing on significant trades involving companies like TSLA, GME, CZR, NKE, AMZN, BABA, LOW, CVNA, HD, and PDD. These trades indicate varying sentiments, with some showing bearish and others bullish outlooks.

Portfolio Pulse from Benzinga Insights

May 23, 2024 | 5:35 pm