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SPY

Goldman Sachs has revised its forecast for the first Federal Reserve interest rate cut from March to May following the January FOMC meeting, where Fed Chair Jerome Powell indicated a more hawkish stance on monetary policy. This shift in expectations led to significant losses on Wall Street, with the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) experiencing their worst trading days since September and October 2023, respectively.

Portfolio Pulse from Piero Cingari

February 01, 2024 | 3:53 pm

NXT

Nextracker Inc. (NASDAQ:NXT) shares surged after reporting Q3 earnings that doubled analyst estimates and raising its full-year 2024 revenue outlook. Earnings per share were 96 cents, surpassing the expected 48 cents. Revenue increased by 38.38% year-over-year to $710.43 million. The company now expects 2024 revenue between $2.425 billion and $2.475 billion. Following the earnings release, analysts from Goldman Sachs, Wells Fargo, and JP Morgan raised their price targets for NXT. The stock hit a 52-week high of $54.95, trading above its 50-day moving average of $43.29.

Portfolio Pulse from Erica Kollmann

February 01, 2024 | 3:49 pm

HUM

Benzinga's options scanner identified unusual options activity on Humana (NYSE:HUM), with over 10 transactions totaling $407,922, including 3 puts worth $110,775. The activity suggests a price range of $250-$400 for HUM. The most significant options trades indicate a bullish sentiment. Humana, a major private health insurer focusing on government-sponsored programs, has seen its stock price slightly increase to $379.95. Analysts have issued varied ratings, with a consensus target price of $416.2. Trading volume is 670,519, and an earnings announcement is expected in 83 days.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:46 pm

CMPR

ETN

NXT

SPWR

Eaton Corporation plc (ETN) reported better-than-expected Q4 financial results, leading to a 6.2% rise in its shares. Other companies like Cimpress plc (CMPR), Nextracker Inc. (NXT), and SunPower Corporation (SPWR) also saw significant gains following positive financial results or corporate announcements. The overall market sentiment was positive, with the Dow Jones gaining over 100 points.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 3:46 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) is set to release its Q1 earnings after the market closes on Feb. 1, 2024, with analysts predicting an earnings increase to 80 cents per share from 3 cents the previous year, and revenue to rise to $166.21 billion from $149.2 billion. The company is also partnering with Kueski to offer bi-weekly installment payments in Latin America. Shares fell 1.4% to $156.73 recently. Analysts from Telsey Advisory Group, Benchmark, Stifel, Wedbush, and Oppenheimer have updated their ratings and price targets for AMZN, reflecting optimism about its performance.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 3:45 pm

BALL

Ball Corporation's shares experienced an uptick following the announcement of their Q4 adjusted EPS results, which surpassed expectations. Additionally, the company provided guidance for the fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:44 pm

MKL

Markel Group's shares are trading lower following the announcement of their 2023 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:40 pm

RCL

Royal Caribbean Cruises Ltd (NYSE:RCL) reported mixed Q4 FY23 results with a 27.8% Y/Y sales growth to $3.33 billion, slightly missing estimates, but an adjusted EPS of $1.25 beating expectations. Despite initial gains, RCL shares dropped 0.85% to $126.42. The company saw increased passenger ticket revenues and operating income, with a notable occupancy rate of 105.4%. Looking ahead, Royal Caribbean provided a positive outlook for Q1 and full-year 2024, expecting significant increases in net yields and adjusted EPS above consensus estimates.

Portfolio Pulse from Anusuya Lahiri

February 01, 2024 | 3:38 pm

RILY

The Bear Cave published a short report titled 'Problems at a Billion Dollar Mess', focusing on B. Riley Financial (RILY). The report likely highlights significant issues within the company, suggesting a negative outlook.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:37 pm

BTCUSD

Chris Burniske, former ARK Invest cryptocurrency lead, predicts Bitcoin (BTC) will likely consolidate further, despite its recent 5.8% week-over-week increase. Burniske, who previously predicted a mid $20Ks level for Bitcoin, reiterated his bearish outlook on X (formerly Twitter). This comes amid a backdrop of $53.6 million in Bitcoin liquidations in the past 24 hours and comments from Cryptoquant's CEO about Bitcoin miners selling, which could lead to sideways market movement for a few months. Additionally, a Scimitar Capital executive noted low trading volume for spot Bitcoin ETFs, suggesting that ETFs could offset daily miner supply post-next halving in April 2024.

Portfolio Pulse from Khyathi Dalal

February 01, 2024 | 3:36 pm