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MCK

McKesson Corporation (NYSE:MCK) reported Q4 earnings below market expectations, with adjusted earnings of $6.18 per share against forecasts of $6.34, and sales of $76.40 billion compared to expected $79.32 billion. Despite this, the company's FY25 earnings outlook exceeds estimates, leading to a 2.3% rise in its shares. Analysts from Baird and UBS subsequently raised their price targets on McKesson.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 1:15 pm

BIG

Big Lots (NYSE:BIG) has seen a significant decrease in short interest, down 41.49% to 7.15 million shares, representing 25.12% of its float. This decline suggests a shift in market sentiment, potentially indicating a more bullish outlook among investors. Despite this, it's not a direct indicator of an imminent price increase. Big Lots has a higher short interest compared to its peers, with an average of 10.92% in its peer group.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 1:15 pm

MGM

MGM Resorts Intl's (NYSE:MGM) short interest has decreased by 6.17% since the last report, with 12.46 million shares sold short, representing 5.17% of its float. It would take about 4.28 days to cover all short positions. This decline in short interest could indicate a more bullish sentiment towards MGM among investors. MGM's short interest is higher than its peer group average of 4.58%, suggesting it has more short interest compared to its peers.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 1:15 pm

MLM

Martin Marietta Materials (NYSE:MLM) has seen a 14.47% increase in short interest since its last report, with 987 thousand shares sold short, representing 1.82% of its float. The short interest now takes approximately 2.63 days to cover. This rise in short interest indicates a more bearish market sentiment towards MLM, although it has less short interest compared to its peer group average of 2.34%. The increase in short interest does not necessarily predict a near-term price fall.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 1:15 pm

DIS

Stock futures are up as investors focus on earnings and economic data, with the Dow Jones posting its fourth consecutive winning session. European markets are also trading higher, buoyed by better-than-expected retail sales data. However, caution is advised due to soft spots in economic data, such as German Factory Orders. The UK awaits the Bank of England's monetary policy announcement, with expectations of no interest rate change but hopes for positive news. Disney's recent earnings are in focus in the US, with concerns about its streaming business amidst a competitive landscape. Gold prices are dipping as investors react to FOMC commentary and the strong dollar index, with upcoming jobless claims data expected to influence future movements.

Portfolio Pulse from Naeem Aslam

May 08, 2024 | 1:11 pm

NODK

NI Holdings, Inc. (NASDAQ:NODK) has agreed to sell its commercial insurance subsidiary, Westminster American Insurance Company, for $10.5 million in cash to a private party. The sale, approved by the Board of Directors and pending regulatory approval, is expected to close in 2024. The proceeds are intended for general corporate purposes. This decision reflects a strategic shift for NI Holdings due to significant market changes, including impacts from the COVID-19 pandemic, inflation, tort liability rulings, and the reinsurance market. The company aims to refocus on its core businesses to improve returns.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:11 pm

TRIP

TripAdvisor, Inc. (NASDAQ:TRIP) shares plummeted over 30% in premarket trading following its Q1 results announcement. Despite beating earnings and revenue expectations with a 6% year-over-year revenue increase and a 42% jump in adjusted EBITDA, the company faces a significant income tax expense of $42 million for Q1 2024 and anticipates a net operating cash outflow of $110 to $120 million in Q2 2024 due to a tax settlement. Additionally, TripAdvisor's special committee sees no potential transaction with a third party, despite previous discussions.

Portfolio Pulse from Nabaparna Bhattacharya

May 08, 2024 | 1:11 pm

SYTA

Siyata Mobile Inc. announced a public offering of $4M in common shares and/or pre-funded warrants at $1.30 per share. The proceeds are intended for working capital, general corporate purposes, marketing, and potential future acquisitions. CEO Marc Seelenfreund highlighted the company's traction in US sales and its goal to lead the Push-to-Talk over Cellular market. Spartan Capital Securities, LLC is the sole placement agent for the offering, expected to close on May 10, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:08 pm

MCK

UBS analyst Kevin Caliendo maintains a Buy rating on McKesson (NYSE:MCK) and raises the price target from $620 to $630, indicating a positive outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:07 pm

LYFT

Lyft, Inc. (NASDAQ:LYFT) exceeded first-quarter sales expectations with $1.28 billion, a 27.59% increase year-over-year, despite missing EPS estimates with a loss of 8 cents per share. Analysts from DA Davidson and Truist Securities raised their price targets to $18, while Needham reiterated a Hold rating. Lyft anticipates Q2 gross bookings between $4 billion and $4.1 billion, with an adjusted EBITDA of $95 million to $100 million. Lyft shares dropped 5.3% to close at $16.60.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 1:06 pm