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JNJ

Johnson & Johnson (NYSE:JNJ) has reached a tentative settlement of approximately $700 million with 42 U.S. states and Washington, D.C., over allegations of misleading information about the safety of its talc products. This settlement does not include over 52,000 personal-injury lawsuits still pending. The company has faced setbacks in bankruptcy proceedings aimed at mass settlements, with a rejected $8.9 billion payout plan. JNJ shares dropped 1.43% to $160.15 following the news.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 6:18 pm

WMT

Options trading activity for Walmart (NYSE:WMT) indicates a bullish sentiment among investors, with 56% of the trades being bullish and 43% bearish. The trading volume and open interest suggest that the market expects Walmart's stock to trade between $135.0 and $170.0. The largest options trades include bullish calls with expiration dates in 2024 and bearish puts expiring in 2024. Walmart is a leading retailer in the US, operating over 4,700 stores and generating over $420 billion in domestic sales. The stock price is slightly down with a current price of $162.22, and the RSI indicators suggest it may be approaching overbought territory. Walmart's next earnings report is expected in 28 days.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 6:16 pm

PCAR

PACCAR Inc. shares have risen following the announcement of their Q4 results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:16 pm

NXPI

NXP Semiconductors' stock (NXPI) is trading higher following an initiation of coverage by Cantor Fitzgerald with an Overweight rating and a price target of $260.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:14 pm

LMT

Lockheed Martin's stock is trading lower after the company released its fourth-quarter earnings and provided its outlook for 2024, which may have disappointed investors.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:13 pm

ENSC

Ensysce Biosciences Inc (NASDAQ:ENSC) received an FDA Breakthrough Therapy Designation for its opioid PF614-MPAR, designed to provide pain relief while preventing overdose. The designation, granted to fewer than 300 drugs, will expedite the drug's development and review. ENSC's stock rose 42.20% to $1.62 following the news.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 6:13 pm

ALB

APTV

BIO

FSLR

HAL

MRO

NEM

UAL

WBD

The S&P 500 index has seen a 20% gain in the past three months, driven by AI, earnings optimism, and expected rate cuts. Investors are evaluating S&P 500 stocks for upside potential based on Wall Street analysts' price targets. Warner Bros. Discovery (WBD), First Solar (FSLR), and Marathon Oil (MRO) are among the top stocks with over 40% projected upside. Other notable mentions include United Airlines (UAL), Bunge Global (BG), Albemarle Corporation (ALB), Newmont Corporation (NEM), Aptiv PLC (APTV), Bio-Rad Laboratories (BIO), and Halliburton Company (HAL).

Portfolio Pulse from Piero Cingari

January 23, 2024 | 6:12 pm

GMAB

JNJ

An appeal arbitrator dismissed Genmab A/S's (NASDAQ:GMAB) bid for additional milestone and royalty payments from Janssen Biotech Inc, a unit of Johnson & Johnson (NYSE:JNJ), related to Darzalex (daratumumab). The decision will not affect Genmab's 2024 financial guidance. William Blair maintains a Market Perform rating on Genmab, citing strong growth from diverse revenue sources but limited initial commercial potential for Tivdak and epcoritamab. GMAB shares dropped 3.28% to $27.74.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 6:11 pm

Procter & Gamble's stock (PG) is trading higher following the release of their Q2 financial results, indicating a positive reception from investors.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:10 pm

BABA

Alibaba shares are experiencing an uptick due to positive sentiment around Chinese stocks, following reports that China may introduce a stock market rescue package. Additionally, the company's co-founders are reported to be purchasing Alibaba stock, which could be further fueling the rise.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:06 pm