Streetbeat News

Stock Prices

ADP

Automatic Data Processing (NYSE:ADP) has seen a 3.45% increase in short interest since its last report, with 3.70 million shares sold short, representing 0.9% of its float. It would take about 2.36 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a near-term price drop. ADP's short interest is below its peer group average of 5.59%.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 2:15 pm

ALK

Alaska Air Group's (NYSE:ALK) short interest has decreased by 22.13% since the last report, with 3.07 million shares sold short, representing 2.71% of available shares. The average time to cover these short positions is 1.0 day. This decline in short interest may indicate a more bullish sentiment towards ALK compared to its peers, which have an average short interest of 8.93% of float.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 2:15 pm

SNX

TD SYNNEX has announced the pricing of a secondary public offering of 7.625 million shares of common stock. Concurrently, the company will repurchase shares, although the specific details of the repurchase were not provided in the article.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 2:05 pm

LHX

Raymond James analyst Brian Gesuale has reaffirmed an Outperform rating on L3Harris Technologies (NYSE:LHX) and increased the price target from $220 to $235.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 2:04 pm

CTRM

Castor Maritime Inc. has announced the sale of two vessels, M/V Magic Nova and M/V Magic Horizon, for a total of $31.9 million. The company expects to realize a net gain of approximately $9 million from these transactions.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 2:04 pm

BOTZ

CVX

IBB

IYW

KRYS

MSFT

VTYX

XLE

XOM

Experts predict a resurgence in M&A activity in 2024 after a slump in 2023, with AI, biotech, and energy sectors expected to lead. Morgan Stanley's Tom Miles and Pitchbook's Tim Clarke attribute the 2023 downturn to market volatility and high interest rates, which particularly affected private equity firms. M&A volumes fell to $2.4 trillion in 2023 from $5.2 trillion in 2021. Microsoft's partnership with OpenAI, potential biotech acquisitions, and big oil deals like ExxonMobil's purchase of Pioneer Natural Resources and Chevron's acquisition of Hess Corp are highlighted. ETFs like IYW, BOTZ, IBB, and XLE, as well as the Russell 2000 index, could benefit from the anticipated M&A uptick.

Portfolio Pulse from Neil Dennis

January 29, 2024 | 2:03 pm

MPC

Marathon Petroleum (NYSE:MPC) is expected to release its quarterly earnings report on January 30, 2024, with an estimated EPS of $2.21. Investors are looking for an earnings beat and positive guidance for future growth. Historically, MPC's stock price has reacted to past earnings performances and guidance. Last quarter, MPC beat the EPS estimate by $0.36, leading to a 2.62% stock price increase the following day. Over the past year, MPC shares have risen by 25.04%, indicating a bullish sentiment among long-term shareholders.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 2:02 pm

PHM

PulteGroup (NYSE:PHM) is expected to release its quarterly earnings report on January 30, 2024, with an estimated EPS of $3.22. Investors are looking for an earnings beat and positive guidance for future growth. Historically, PulteGroup's stock price has shown varied reactions to past earnings performances, with minor fluctuations following the announcements. The stock has been performing well over the last year, with an 84.78% increase in share price. The upcoming earnings report could influence the stock's short-term performance depending on the actual results and forward guidance provided.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 2:02 pm

LFUS

Littelfuse (NASDAQ:LFUS) is expected to release its quarterly earnings report on January 30, 2024, with an estimated EPS of $2.12. Investors are looking for an earnings beat and positive guidance for the next quarter. Historically, Littelfuse's stock price has reacted to past earnings performances, with a mix of positive and negative post-earnings price changes. Currently, the stock is trading at $234.6, down 8.61% over the last 52 weeks, indicating a bearish sentiment among long-term shareholders.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 2:01 pm

CP

Canadian Pacific Railway (NYSE:CP) is expected to release its quarterly earnings report on January 30, 2024, with an estimated EPS of $0.84. Investors are looking for an earnings beat and positive guidance for future growth. Historically, CP's stock price has shown modest reactions to earnings beats or misses. The stock is currently trading at $78.6, with a slight 52-week decline of 0.38%. The upcoming earnings report could influence investor sentiment, especially if the company's performance deviates from expectations.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 2:01 pm