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CHGG

Chegg Inc (NYSE:CHGG) shares fell in early trading on Tuesday following its Q4 earnings report, which revealed modest revenue gains but continued challenges in subscriber growth, particularly in the U.S. Analysts from Piper Sandler, KeyBanc Capital Markets, William Blair, and Needham provided mixed reviews, with a focus on the company's AI investments, subscription service revenues, and financial guidance. Despite some positive notes on expense management and international subscriber growth, the overall sentiment was cautious due to weak subscriber trends and disappointing Q1 guidance.

Portfolio Pulse from Priya Nigam

February 06, 2024 | 5:47 pm

AGCO

AGCO Corp reported a 2.5% decline in Q4 fiscal 2023 net sales to $3.80 billion, missing the $4.03 billion consensus. Adjusted operating income fell 13.2% Y/Y to $405.3 million, with a margin contraction to 10.7%. Adjusted EPS was $3.78, below the $4.02 consensus. For 2024, AGCO expects net sales of $13.6 billion and EPS of ~$13.15, aiming for operational efficiencies amid challenging market conditions. Shares rose 2.85% to $124.38.

Portfolio Pulse from Akanksha Bakshi

February 06, 2024 | 5:46 pm

RTO

Rentokil Initial's (NYSE:RTO) short interest has significantly increased by 109.09% since the last report, with 1.16 million shares sold short, representing 0.23% of its float. This increase in short interest, which now requires approximately 1.77 days for traders to cover, may indicate a more bearish market sentiment towards RTO. However, compared to its peers' average short interest of 3.03%, RTO's short interest is relatively low, suggesting a less bearish outlook among its peer group.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:45 pm

SPLK

Splunk's (NYSE:SPLK) short interest has decreased by 14.75% since the last report, with 4.37 million shares sold short, representing 2.6% of its float. This decrease in short interest could indicate a more bullish sentiment towards SPLK among investors. Compared to its peers, SPLK has a lower short interest percentage of 2.6% versus the peer group average of 3.07%.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:45 pm

DOV

Dover (NYSE:DOV) has seen a 7.56% increase in its short percent of float, now at 1.85% of all shares available for trading. With 1.99 million shares sold short, it would take about 2.39 days to cover these positions. This rise in short interest indicates a more bearish market sentiment towards Dover, although it has less short interest compared to its peer group average of 3.16%. This information suggests investors are showing increased bearishness but Dover is still performing better in this aspect than most of its peers.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:45 pm

UPS

United Parcel Service (UPS) shares are experiencing an uptick following an upgrade by UBS from Neutral to Buy, along with an increase in the price target from $160 to $175.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:44 pm

BIDU

Baidu Inc (NASDAQ:BIDU) shares increased by 3.2% to $106.94, likely due to potential Chinese government stimulus measures. Chinese equities, including BIDU, are responding positively to government support pledges after recent declines. The Hang Seng index rose by 4%, with significant gains in other Chinese companies like JD.com and Alibaba. This comes after a reported loss of around $6 trillion in Chinese mainland equity markets over the last three years.

Portfolio Pulse from Henry Khederian

February 06, 2024 | 5:41 pm

BNRE

CNA

GOCO

WTW

Insurance stocks showed notable movements in Tuesday's intraday session. Willis Towers Watson, GoHealth, eHealth, BRP Group, SelectQuote, and FG Finl Gr were among the gainers, with increases in their stock prices. On the other hand, Brookfield Reinsurance, Reliance Global Group, Stewart Information Servs, Waterdrop, CNA Financial, and Hamilton Insurance Group experienced declines. The movements were attributed to various factors including Q4 earnings releases for some companies.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:40 pm

MATICUSD

USDC

President Joe Biden and Donald Trump are the frontrunners for the 2024 presidential election, with Biden committed to Kamala Harris as his running mate, despite speculation and a Benzinga poll suggesting a Biden-Haley ticket could be more favorable. The poll also indicates a preference for Trump choosing Ron DeSantis over Nikki Haley. Political betting markets like Polymarket, where users can bet on political events using cryptocurrencies like Polygon (MATIC) and USDC, show varying odds for potential vice presidential picks.

Portfolio Pulse from Chris Katje

February 06, 2024 | 5:39 pm

ITUB

Itau Unibanco Banco Holding's shares are trading lower despite the company reporting better-than-expected Q4 revenue results.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:38 pm