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U.S. stocks showed mixed performance with the Nasdaq gaining 100 points following the release of PCE data indicating a slight ease in inflation from 2.6% to 2.4%. Societal CDMO, Enveric Biosciences, and Volcon saw significant stock increases due to acquisition and licensing news, while LivePerson, The Chemours Company, and Ironwood Pharmaceuticals experienced sharp declines due to disappointing financial results and trial outcomes.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 3:40 pm

ARGX

argenx shares are trading lower following the release of their Q4 results.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 3:38 pm

RNLX

Renalytix Plc shares are trading higher following the announcement that the US has approved adding the company's kidneyintelX.dkd to its 10-year Governmentwide Acquisition Contract, effective Mar. 1.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 3:36 pm

CLSK

Recent options trading trends for Cleanspark (NASDAQ:CLSK) show a bullish sentiment among investors, with 64% of trades being bullish and 35% bearish. Significant trades include both calls and puts, with a notable volume and open interest in options ranging from $7.5 to $30.0 strike prices. Cleanspark, a bitcoin mining company, has seen its stock price increase by 6.86% to $19.32. Analysts have set an average price target of $20.5, with varying opinions from HC Wainwright & Co. Options trading offers higher profit potential but comes with risks.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 3:32 pm

NIO

Financial analysis reveals a bearish sentiment among investors towards NIO (NYSE:NIO), with 55% of unusual options trades indicating a bearish outlook. The trades suggest a price range of $4.0 to $25.0 for NIO over the next three months. Notable options activity includes both puts and calls with varying sentiments and expiration dates. NIO, a leading electric vehicle maker, has seen its stock price increase by 2.58% to $5.57, with an RSI suggesting it may be approaching overbought territory. An analyst from JP Morgan has downgraded NIO to Underweight with a price target of $5.0.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 3:32 pm

NKE

Deep-pocketed investors have shown a bearish sentiment towards Nike (NYSE:NKE), with a significant move in options trading. Benzinga's tracking revealed 12 unusual options activities, with 75% being bearish. The focus is on a price range between $82.5 and $130.0. Notable options activity includes both puts and calls with varying sentiments and expiration dates. Nike's current stock price is up 0.64% at $105.02, with analysts giving an average target price of $110.0. Oppenheimer downgraded Nike to Perform with a price target of $110.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 3:32 pm

BONKUSD

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PEPEUSD

Bitcoin surpassed the $62,000 mark and Ethereum traded above $3,400 following the release of the US PCE data for January 2024, indicating a rise in core PCE prices. Bonk emerged as the top gainer in the crypto market, which saw an overall 24-hour gain of 3.5%, reaching a global market cap of $2.31 trillion. Pepe was the biggest loser during the same period.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 3:31 pm

KRYS

Krystal Biotech (NASDAQ:KRYS) has significantly outperformed the market with an annualized return of 35.55% over the past 5 years, turning a $1000 investment into $7,352.73. The company now has a market capitalization of $4.58 billion.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 3:30 pm

SCHW

Over the past 20 years, Charles Schwab (NYSE:SCHW) has delivered an average annual return of 9.16%, turning a $1000 investment into $5,562.92 today. With a current market capitalization of $120.30 billion, SCHW's performance highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 3:30 pm

BBY

Best Buy Co., Inc. (NYSE:BBY) shares rose after reporting Q4 earnings and sales that beat analyst expectations. The company announced a 2% dividend increase and provided an FY25 outlook with adjusted EPS and revenue forecasts slightly below analyst estimates. Despite a decline in comparable sales and online revenue, improvements in gross profit rates were noted, particularly from membership offerings and health initiatives.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 3:29 pm