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CPNG

Citigroup analyst John Yu has maintained a Buy rating on Coupang (NYSE:CPNG) and increased the price target from $26 to $28, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 7:25 pm

ZS

Zscaler shares are trading lower due to social media posts suggesting the company is aware of a threat actor's claim of obtaining unauthorized information.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 7:19 pm

FCX

Freeport-McMoRan's stock (FCX) is trading lower due to a decrease in copper prices.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 7:15 pm

GM

General Motors (GM) announced it will cease production of the Chevrolet Malibu, a model sold for over 60 years, to focus on electric vehicles (EVs). The company plans to invest $390 million in its Kansas assembly plant for the next-generation Chevrolet Bolt EVs, marking a shift from gasoline-powered cars to EVs and crossovers. The Malibu's discontinuation in November follows the end of the Chevrolet Camaro production last year. GM also plans to temporarily halt Cadillac XT4 production in January 2025, with layoffs expected until production of both the Bolt EV and XT4 resumes later that year.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 7:08 pm

OXY

Occidental Petroleum plans to increase Permian production in the second half of the year while reducing the number of rigs. Operating costs in the Gulf of Mexico are expected to recover in Q3. The CEO reports high interest from potential buyers for its assets on sale.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 7:06 pm

RDDT

Reddit Inc (NYSE:RDDT) shares surged 14% after its first quarterly earnings post-IPO showed a loss per share better than expected and a 48% revenue increase year-over-year. Despite a net loss of $575.1 million mainly due to IPO-related expenses, the company's ad revenue growth and potential in AI licensing were highlighted as key growth drivers. The discussion on Reddit also touched on the platform's use of user data for AI training and the skepticism about its future profitability.

Portfolio Pulse from Surbhi Jain

May 08, 2024 | 7:05 pm

STXUSD

Cryptocurrency Stacks (STX) experienced a 4.63% decrease in price over the last 24 hours, marking a continuation of its downward trend with a total decrease of 2.0% over the past week. The trading volume for STX has decreased by 71.0%, while its circulating supply has increased by 0.38%. Currently, STX's market cap ranks it at #39 with a value of $3.10 billion.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:02 pm

FWRG

First Watch Restaurant Gr (NASDAQ:FWRG) has been analyzed by 8 analysts, showing a mix of ratings from bullish to indifferent. The average 12-month price target is now $26.75, up 14.32% from the previous $23.40. Recent actions include adjustments to ratings and price targets by analysts from Barclays, TD Cowen, Stifel, and Citigroup. The company, known for its daytime restaurant concept, has shown a revenue growth of 31.7% as of December 31, 2023, but struggles with profitability and efficiency metrics compared to industry averages.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:01 pm

ICPUSD

Internet Computer's cryptocurrency (ICP) has seen a decline of 3.81% in the last 24 hours, bringing its price to $12.23. This drop is part of a larger negative trend over the past week, with a total decrease of 7.0% from $13.22. The trading volume for ICP has also decreased by 51.0% over the same period, while its circulating supply has slightly decreased by 0.13%, resulting in a current market cap of $5.71 billion, ranking it 22nd.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:01 pm

MO

Altria Group (NYSE:MO) has seen unusual options activity indicating a mixed sentiment among big-money traders, with a bearish lean. Benzinga's options scanner revealed 8 significant trades, with a sentiment split of 37% bullish and 62% bearish. The trades include 2 puts and 6 calls, with a focus on strike prices between $30.0 and $50.0. The largest trades suggest expectations of price movements within this range. Altria, a leading tobacco company with interests in cannabis and brewing, has seen its stock price slightly increase, with potential overbought indicators.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 7:00 pm