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VRTX

Evercore ISI Group analyst Liisa Bayko upgraded Vertex Pharmaceuticals (VRTX) from In-Line to Outperform with a new price target of $438.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 10:50 am

DIA

GLD

QQQ

SPY

USO

US stock markets fell after unexpectedly high inflation data, with the S&P 500, Dow Jones, and Nasdaq all closing lower. Inflation in the US rose to 3.5% in March, impacting global markets with mixed results in Asia and Europe. Commodities saw gold trading above $2,350, while crude oil prices dropped.

Portfolio Pulse from Akanksha Bakshi

April 11, 2024 | 10:47 am

CRMT

HCI

TRDA

Insiders at HCI Group, America's Car-Mart, and Entrada Therapeutics have made notable purchases of their company's stock, signaling confidence in their respective companies' futures. HCI Group's CEO acquired shares at an average price of $114.90, with an analyst maintaining an Outperform rating and a $140 price target. America's Car-Mart's CEO purchased shares at $61.62, despite an analyst maintaining an Underperform rating with a lowered price target. Entrada Therapeutics saw purchases by a director at an average price of $13.57, following upbeat quarterly sales.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 10:41 am

CLIA

CPYYY

SEMI

STM

STMicroelectronics N.V. (NYSE:STM) has signed a ten-year Power Purchase Agreement (PPA) with Centrica plc (OTC:CPYYY) to supply renewable energy to its Italian operations from January 2025. The deal involves approximately 61 GWh of renewable energy annually from a new solar farm in Italy, supporting STM's goal to become carbon neutral by 2027. This agreement follows a previous 15-year PPA with ERG for renewable energy supply. STM's Q1 2024 results will be announced on April 25, 2024. Investors can also engage with STM through ETFs like Veridien Climate Action ETF (NYSE:CLIA) and Columbia Seligman Semiconductor And Technology ETF (NYSE:SEMI). STM's stock saw a slight increase of 0.09% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 11, 2024 | 10:41 am

SHOP

Piper Sandler analyst Clarke Jeffries maintains an Underweight rating on Shopify (NYSE:SHOP) with a $63 price target, indicating a bearish outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 10:38 am

Citigroup Inc. is expected to report lower Q1 earnings at $1.20 per share, down from $2.19 per share year-over-year, with revenue projected at $20.40 billion, up from $19.99 billion. The company announced a $2.75 billion redemption of notes due 2025. Shares fell 2.4% to $60.18. Analysts from Jefferies, Keefe, Bruyette & Woods, Wells Fargo, HSBC, and Oppenheimer have updated their ratings and price targets for Citigroup.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 10:31 am

GLD

ORLA

The article discusses the improbability of a 50% crash in the S&P 500 market, countering the notion with insights from market technician Chris Vermeulen, who predicts a possible 10% to 20% correction by year-end. It also debunks the idea that gold or gold miners, like Orla Mining Ltd. (ORLA) and the SPDR Gold Shares ETF (GLD), would protect investors in such a crash, suggesting instead that put options on stocks are a more effective hedge. The article highlights the success of a hedged portfolio method, which has shown promising results in protecting against market downturns.

Portfolio Pulse from David Pinsen

April 11, 2024 | 10:28 am

NKE

B of A Securities analyst Lorraine Hutchinson upgrades Nike (NYSE:NKE) from Neutral to Buy and raises the price target from $110 to $113.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 10:27 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is showing signs of recovery despite recent sell-offs and negative fundamentals, according to Future Fund Managing Partner Gary Black. Black highlights a balance between declining fundamentals and excitement over Full Self-Driving (FSD) and robotaxi developments. He notes a significant drop in earnings estimates for 2024 and 2025 but suggests that much of the negative news may already be factored into Tesla's stock price. Black also points out the potential risk of price cuts due to high Model Y inventory levels and the importance of Tesla's guidance on delivery growth and earnings estimates for stock movement.

Portfolio Pulse from Shanthi Rexaline

April 11, 2024 | 10:14 am

ACOR

ALPN

APVO

RENT

RLYB

Rallybio Corporation shares surged 77.9% in pre-market trading following a collaboration announcement with Johnson & Johnson on therapeutics for pregnant individuals at risk of FNAIT. Other stocks also showed significant movement in pre-market trading, with notable gainers including Rent the Runway, Alpine Immune Sciences, and TuanChe Limited, among others. Conversely, Aptevo Therapeutics and Acorda Therapeutics led the pre-market losers, with significant drops due to a pipeline update and bankruptcy proceedings, respectively.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 10:14 am