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KRE

NYCB

Rising office vacancy rates and the Federal Reserve's rapid interest rate hikes pose a threat to regional banks due to their significant exposure to commercial real estate (CRE) loans. Data indicates that smaller banks hold nearly 70% of CRE loans, with some banks' CRE loans averaging nearly 35% of their total assets. This situation has led to concerns about a potential systemic credit event, with 16% of investors surveyed by Bank of America considering it the biggest tail risk for 2024. New York Community Bancorp (NYCB) experienced a 60% stock drop after reporting a quarterly loss and cutting its dividend, highlighting the sector's vulnerability. However, there may be some relief as interest rates are expected to decrease, and corporate bosses are recalling staff to offices, potentially reducing vacancy rates.

Portfolio Pulse from Neil Dennis

February 13, 2024 | 5:51 pm

LCII

LCI Industries Inc (NYSE:LCII) reported a Q4 FY23 revenue of $837.5 million, a 6% decline Y/Y, missing consensus estimates by a slight margin. The decline was attributed to decreased North American marine production levels, lower selling prices, and reduced North American RV wholesale shipments. However, aftermarket net sales rose 10% Y/Y, and January 2024 net sales increased 13% Y/Y, mainly due to a 57% increase in North American RV production. The company also reported a gross profit increase and a positive operating profit, contrasting with the previous year's loss. Despite these positive indicators, LCII's EPS of $(0.09) missed consensus estimates. The company highlighted its new product launches and nearly $200 million in net new business commitments for 2024.

Portfolio Pulse from Lekha Gupta

February 13, 2024 | 5:51 pm

GTHX

G1 Therapeutics' stock price is trading lower following adjustments in price targets by Needham and Wedbush. Needham maintained a Buy rating but reduced its price target from $14 to $12. Similarly, Wedbush kept its Outperform rating but lowered its price target from $5 to $4.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 5:48 pm

ARBB

ARB IOT Group's shares surged following a 13G filing on Monday, revealing ARB Berhad has acquired a 28.38% stake in the company.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 5:46 pm

EXP

Eagle Materials (NYSE:EXP) has seen an increase in short interest, now at 1.89% of its float, higher than the peer group average of 1.21%. This rise to 567 thousand shares sold short suggests a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. The coverage time for short positions based on trading volume is approximately 1.62 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 5:45 pm

VEEV

Veeva Systems (NYSE:VEEV) has seen a decrease in short interest, with the short percent of float falling 5.67% since the last report, now at 1.33% of all shares available for trading. This indicates a potential shift in market sentiment towards a more bullish outlook for VEEV, as short interest can serve as a market sentiment indicator. The current short interest suggests less market expectation for the stock price to fall. VEEV's short interest is also below its peer group average of 5.66%, suggesting it is performing relatively well in this aspect.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 5:45 pm

CHTR

Charter Communications (NYSE:CHTR) has seen a 3.42% increase in its short percent of float since the last report, with 9.11 million shares sold short, representing 9.38% of its available shares for trading. This indicates a bearish market sentiment, although it's not a definitive predictor of stock price movement. The company's short interest is slightly above its peer group average of 9.06%. The article suggests that an increase in short interest can sometimes be bullish for a stock.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 5:45 pm

Waste Management, Inc. (NYSE:WM) shares rose after reporting Q4 earnings that exceeded expectations, with adjusted earnings of $1.74 per share and quarterly sales of $5.22 billion. The company's strong performance is attributed to effective pricing and operating excellence programs, leading to a record adjusted margin of 29.9%. Waste Management anticipates adjusted operating EBITDA for 2024 to be between $6.275 billion and $6.425 billion, signaling continued growth.

Portfolio Pulse from Erica Kollmann

February 13, 2024 | 5:43 pm

MAR

MGM

Marriott announced that the first of MGM's properties has joined its system in January 2024, with the remaining properties expected to join by the end of Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 5:43 pm

BNRE

CNFR

CRD

EHTH

GLRE

HUIZ

MHLD

MRAI

RELI

RNR

In Tuesday's intraday session, the insurance industry saw notable movements. Huize Holding, Crawford, Everest Group, Reliance Global Group, and RenaissanceRe Holdings experienced gains, while Conifer Holdings, Maiden Holdings, Marpai, Greenlight Capital Re, eHealth, and Brookfield Reinsurance faced declines. Notably, Everest Group and Brookfield Reinsurance's movements were influenced by their recent Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 5:40 pm