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OXY

Occidental Petroleum (NYSE:OXY) has been downgraded by Truist Securities from Buy to Hold, with a price target cut from $84 to $69. The downgrade is due to the expected minimal shareholder return in upcoming quarters as the company focuses on debt reduction. The CrownRock acquisition, while adding quality inventory, is seen as less accretive than other recent deals.

Portfolio Pulse from Priya Nigam

May 16, 2024 | 4:27 pm

RDDT

Reddit Inc (NYSE:RDDT) is reintroducing its award program, allowing users to buy awards to support content creators. The previous version was discontinued in 2023. The new system aims to improve user experience and monetization, but initial reactions from users are mixed.

Portfolio Pulse from Hayden Buckfire

May 16, 2024 | 4:27 pm

ADTH

AdTheorent Holding shares are trading lower after a third party withdrew its proposal to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 4:25 pm

BB

BlackBerry shares are trading lower amid volatility driven by retail investor momentum.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 4:24 pm

DADA

Dada Nexus shares are trading lower after the company reported worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 4:20 pm

PBR

Benzinga's options scanner identified significant options activity in Petrobras Brasileiro (NYSE:PBR), with over 8 transactions totaling $722,544. The options activity suggests a price window of $12.0 to $17.0 for PBR. The stock is currently trading at $15.55, with a neutral RSI and an earnings announcement expected in 77 days. An analyst from Jefferies downgraded the stock to Hold with a price target of $17.

Portfolio Pulse from Benzinga Insights

May 16, 2024 | 4:19 pm

SOC

Sable Offshore shares are trading higher following the release of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 4:19 pm

CDRO

Codere Online Luxembourg shares are trading higher after Stifel maintained a Buy rating on the stock and raised its price target from $8 to $9.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 4:18 pm

HWKN

Hawkins shares are trading higher after the company reported better-than-expected Q4 sales results.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 4:15 pm

AMZN

BIDU

BP

CL

FSLR

GOOGL

PHYS

Michael Burry's Scion Asset Management LLC has shifted its investment strategy in Q1 2024, focusing on physical commodities and renewable energy while divesting from major tech stocks. The fund's market value increased to $103.49 million, with significant investments in Sprott Physical Gold Trust, Cigna Holding Co, BP Plc ADR, First Solar Inc., and Baidu Inc ADR. Burry also increased stakes in JD.com Inc and Alibaba Group Holdings, while completely exiting positions in Alphabet Inc. and Amazon.com Inc.

Portfolio Pulse from Piero Cingari

May 16, 2024 | 4:14 pm