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WSO

Watsco shares are trading higher following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:20 pm

BAMG

BUL

FTV

Fortive Corporation (NYSE:FTV) shares dropped after reporting Q1 FY24 results with a slight revenue miss but improved EPS. The company adjusted its FY24 revenue forecast downwards while raising its EPS outlook. Dividends were declared, and exposure to FTV can be gained through BAMG and BUL ETFs.

Portfolio Pulse from Lekha Gupta

April 24, 2024 | 4:19 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares are experiencing volatility amid concerns of stock manipulation. CEO Devin Nunes has requested an investigation by House GOP leaders into potential unlawful trading activities, citing the company's continuous appearance on Nasdaq's 'Reg SHO threshold list' since April 2, 2024, indicative of such activities. Nunes highlighted the high cost of shorting DJT shares and the financial incentives for brokers to lend non-existent shares. The company has advised shareholders to hold their shares in cash accounts and opt out of securities lending programs to prevent their shares from being lent out for short selling.

Portfolio Pulse from Nabaparna Bhattacharya

April 24, 2024 | 4:19 pm

ARES

Ares Management (NYSE:ARES) has seen an increase in short interest, now at 2.77 million shares or 1.84% of float, taking 3.12 days on average to cover. This rise in short interest, compared to the peer group average of 2.73%, suggests a more bearish sentiment towards ARES, although it's below the peer average. Short interest is a key indicator of market sentiment, and an increase can sometimes be bullish, depending on investor strategies.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:15 pm

TDOC

Teladoc Health (NYSE:TDOC) has seen a 16.61% increase in its short percent of float since the last report, with 20.88 million shares sold short, representing 16.08% of available shares. This indicates a bearish market sentiment, although it's not a definitive predictor of stock price movement. Teladoc's short interest is significantly higher than its peer group average of 5.44%, suggesting more bearish sentiment towards TDOC compared to its peers.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:15 pm

VICI

VICI Props (NYSE:VICI) has seen a decrease in short interest, with the short percent of float falling 5.08% to 2.24% of all shares available for trading. The current short interest stands at 20.02 million shares, requiring approximately 3.85 days for traders to cover their short positions. This decline in short interest may indicate a more bullish sentiment towards VICI Props compared to its peers, where the average short interest as a percentage of float is 5.23%.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:15 pm

BKKT

Bakkt Holdings Inc (NYSE:BKKT) shares plummeted to a new all-time low of $0.33, down 16.3%, following the announcement of a 1-for-25 reverse stock split effective at the close of trading on April 26. The adjusted Class A Common Stock will begin trading on April 29. Despite the decline, BKKT and its Public Warrants will remain listed on the NYSE under the symbols 'BKKT' and 'BKKT WS'. Over the past year, BKKT shares have fallen by 74.87%, with a significant drop of 24.71% over the past month. The stock's all-time high was $42.52, and it currently has a Relative Strength Index of 20.82, indicating oversold conditions.

Portfolio Pulse from Henry Khederian

April 24, 2024 | 4:13 pm

BIIB

Biogen Inc (NASDAQ:BIIB) reported Q1 adjusted EPS of $3.67, beating consensus but with a 7% year-over-year sales decline to $2.29 billion, missing expectations. Multiple sclerosis and rare disease revenues fell, while Leqembi (Alzheimer's drug) sales showed significant growth. The company reaffirmed its fiscal 2024 EPS guidance and expects a low to mid-single-digit percentage decline in total revenue. Shares rose 4.47% following the report.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 4:12 pm

EH

EHang Holdings Ltd. (NASDAQ:EH) plans to raise up to $100 million through a public offering of its ADS, aiming to fund the mass production of its self-flying aircraft. This move comes as the company progresses towards commercialization, having received necessary regulatory certificates in China. Despite facing a short-selling attack by Hindenburg Research, EHang's revenue surged 165% last year, and it is projected to significantly grow in the coming years, with profitability expected by 2025.

Portfolio Pulse from The Bamboo Works

April 24, 2024 | 4:08 pm

OC

Owens Corning Inc (NYSE:OC) reported a slight decline in Q1 fiscal 2024 net sales to $2.3 billion, narrowly beating consensus estimates. Despite a sales drop, the company saw a significant increase in adjusted EPS to $3.59 from $2.80 a year ago, surpassing expectations. Adjusted EBIT and EBITDA also rose, with margins expanding significantly. The company highlighted its margin expansion and enhanced product lineup as key drivers of its performance. Owens Corning also reported positive operating cash flow, continued share repurchases, and dividend payments. Looking ahead, it expects Q2 net sales to align with the previous year and maintains a focus on innovation with 13 new or enhanced products introduced.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 4:06 pm