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ALB

Albemarle shares are trading lower due to a general weakness in the lithium sector, affecting the stock's performance.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:27 pm

SPY

Ryan Detrick, chief market strategist at Carson Group, downplayed concerns about the impact of March's higher-than-expected CPI report on the stock market. He criticized the government's method of calculating shelter costs within CPI and noted that despite the CPI shock, the Producer Price Index (PPI) did not raise concerns. Detrick also mentioned that the Federal Reserve's less likely action to cut interest rates three times this year reflects a strong economy, which is positive for stocks. He highlighted the SPDR S&P 500 Index's (SPY) 10% gain in Q1, suggesting that early strength often correlates with continued performance throughout the year.

Portfolio Pulse from Aaron Bry

April 12, 2024 | 6:20 pm

ABBV

AbbVie Inc (NYSE:ABBV) released interim results from a Phase 3 study on atogepant for migraine prevention, showing improved outcomes and consistent safety profiles. Despite positive data, ABBV shares dropped 2.75% to $162.92, with trading volume lower than average. The company also raised its revenue outlook for Ubrelvy and Qulipta, expecting over $3 billion in peak revenues, up from previous estimates.

Portfolio Pulse from Vandana Singh

April 12, 2024 | 6:19 pm

AGEN

BMY

Agenus Inc (NASDAQ:AGEN) reported promising Phase 1 trial results for its BOT/BAL therapy in metastatic colorectal cancer, with a 23% overall response rate. The company plans to submit a BLA later this year and present detailed Phase 2 results in 2024. Agenus also executed a one-for-twenty reverse stock split. Despite positive data, funding concerns persist as Agenus ended 2023 with $76.1 million in cash and a significant cash burn. William Blair remains optimistic, maintaining an Outperform rating with a sales forecast of $404 million by 2027 for the therapy.

Portfolio Pulse from Vandana Singh

April 12, 2024 | 6:18 pm

EL

Estee Lauder shares are trading lower due to overall market weakness.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:03 pm

TOST

Toast (NYSE:TOST) has been analyzed by 13 analysts, showing a mix of ratings from bullish to bearish. The average 12-month price target is $22.85, up 36.74% from the previous $16.71, with a high estimate of $32.00 and a low of $15.00. Analyst actions include ratings adjustments and price target changes, reflecting dynamic market conditions and Toast's performance. Toast, a U.S.-based restaurant technology company, reported a revenue growth rate of 34.9% as of December 31, 2023, with a market capitalization below industry averages and a net margin of -3.47%.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 6:01 pm

BTCUSD

Bitcoin is trading lower due to market uncertainty following mixed inflation data and bank earnings this week.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:00 pm

FCFS

Over the past 20 years, FirstCash Hldgs (NASDAQ:FCFS) has produced an average annual return of 13.33%, outperforming the market. A $1000 investment in FCFS 20 years ago would be worth $11,806.76 today. FirstCash Hldgs currently has a market capitalization of $5.91 billion.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 6:00 pm

RMBS

Over the past 5 years, Rambus (NASDAQ:RMBS) has outperformed the market with an annualized return of 26.94%, averaging 38.9% annually. With a current market cap of $6.89 billion, a $100 investment in RMBS 5 years ago would now be worth $531.54.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 6:00 pm

ETHUSD

Ethereum (ETHUSD) is trading lower due to a drop in the crypto market, influenced by mixed inflation data and bank earnings.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:00 pm