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CMI

GFL

PCAR

TEX

Bank of America Securities analyst Michael Feniger has adjusted ratings for companies in the machinery, E&C, and waste management sectors, anticipating a challenging 2024. The analyst predicts difficulty in EPS beats due to slow backlogs, moderating pricing, and inventory challenges. Despite this, if the Fed reduces rates, the market may not fully discount lower backlogs for 2025. Consensus forecasts suggest flat to negative EPS growth for the cyclical machinery sector in 2024. Feniger downgraded GFL Environmental Inc (GFL) to Neutral and Cummins Inc (CMI) to Underperform, while upgrading PACCAR Inc (PCAR) to Neutral. Terex Corp (TEX) was also downgraded to Underperform.

Portfolio Pulse from Lekha Gupta

January 19, 2024 | 7:21 pm

ATGE

Barrington Research analyst Alexander Paris has maintained an Outperform rating on Adtalem Global Education (NYSE:ATGE) and increased the price target from $55 to $65.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 7:18 pm

IRBT

KAMN

STT

TCN

U.S. stocks saw gains with the S&P 500 increasing by 1.06%. State Street Corporation (NYSE:STT) reported Q4 earnings that surpassed expectations, with revenues of $3.04 billion and EPS of $2.04, also announcing a $5 billion share repurchase program. Kaman Corporation (NASDAQ:KAMN) surged 101% after an acquisition announcement by Arcline. Tricon Residential Inc. (NYSE:TCN) gained 28% due to an acquisition agreement with Blackstone entities. Conversely, iRobot Corporation (NASDAQ:IRBT) fell 28% amid reports that the EU may block its acquisition by Amazon. Other market movements included a decline in oil prices and an increase in gold prices.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 7:17 pm

AIMD

Ainos (NYSE:AIMD) has seen a significant increase in short interest, with a 1007.69% rise since the last report. The short interest now stands at 74 thousand shares, 4.32% of the float, with a short-covering time of 1.08 days. This rise in short interest could indicate a bearish market sentiment towards AIMD, although it doesn't necessarily predict a price drop. Ainos has a higher short interest compared to its peers, with the average being 2.86%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:15 pm

MLEC

Moolec Science (NYSE:MLEC) has seen an 11.11% increase in short interest since its last report, with 9 thousand shares sold short, representing 0.1% of its float. It would take about 2.7 days to cover these short positions. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. Moolec Science has less short interest compared to its peers' average of 4.49%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:15 pm

Alcoa Corporation's (NYSE:AA) short interest has decreased by 8.37% since the last report, with 11.71 million shares sold short, representing 7.55% of its float. The average time to cover these short positions is 1.92 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the company's peers, which have an average short interest of 3.52% of float.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:15 pm

AAPL

AMZN

GOOG

GOOGL

IVV

META

MSFT

NVDA

SPY

TSLA

VOO

The S&P 500 Index reached a new all-time high, driven by tech stocks' performance, lower inflation, and hopes for Fed rate cuts. SPDR S&P 500 ETF (SPY), iShares Core S&P 500 ETF (IVV), and Vanguard S&P 500 ETF (VOO) also hit record highs. The 'Magnificent Seven' tech companies, including AAPL, MSFT, GOOG, GOOGL, AMZN, META, NVDA, and TSLA, have seen a combined surge of 110%. The market anticipates up to six rate cuts by December 2023.

Portfolio Pulse from Piero Cingari

January 19, 2024 | 7:12 pm

DKNG

PDYPY

PENN

DraftKings Inc (NASDAQ:DKNG) was upgraded from Hold to Buy by Stifel analyst Jeffrey A. Stantial, with a price target increase from $40 to $45. The upgrade is based on factors such as same-state handle growth, hold-rate expansion, marketing discipline, and EBITDA upside. Stantial notes that competition risks, such as from PENN Entertainment's (NASDAQ:PENN) ESPN Bet, are easing, which may benefit DraftKings. Flutter Entertainment (OTC:PDYPY), the parent company of FanDuel, is also mentioned as a potential risk due to its planned NYSE listing. Other analysts have mixed views on DraftKings, with ratings ranging from Underperform to Buy and price targets between $28 and $50. DraftKings shares were down 2% to $36.90 on Friday.

Portfolio Pulse from Chris Katje

January 19, 2024 | 7:08 pm

BIRK

Baird analyst Mark Altschwager has maintained an Outperform rating on Birkenstock Holding (NYSE:BIRK) and increased the price target from $53 to $54.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 7:07 pm

ADBE

Adobe (NASDAQ:ADBE) has significantly outperformed the market with an average annual return of 25.72% over the past 10 years. An investment of $100 in ADBE a decade ago would be worth $971.90 today. Adobe's market capitalization stands at $271.35 billion, reflecting its strong performance and growth.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:01 pm