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The latest U.S. Baker Hughes Oil Rig Count shows an increase of 1 rig, while the Gas Rig Count has decreased by 2 rigs. This data provides insights into the current level of oil and gas exploration and production activities in the United States.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:02 pm

SBAC

Over the past 20 years, SBA Communications Corporation (NASDAQ:SBAC) has delivered an average annual return of 21.21%, outperforming the market. A $100 investment in SBAC 20 years ago would be worth $4,968.48 today. SBA Comms currently has a market cap of $26.53 billion.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 6:00 pm

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On CNBC's Halftime Report, analysts shared their final trades, which included stock recommendations for Aptiv PLC, Marriott International, CVS Health Corp, and GXO Logistics.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:00 pm

CDNS

Over the past 15 years, Cadence Design Systems (NASDAQ:CDNS) has delivered an average annual return of 31.64%, outperforming the market. A $1000 investment in CDNS 15 years ago would be worth $59,338 today. Cadence Design Systems currently has a market cap of $69.63 billion.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 6:00 pm

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The jobs report, stronger than expected, contradicts the stock market's consensus of 'immaculate everything,' including expectations of multiple rate cuts in 2024. Non-farm private payrolls and average hourly earnings exceeded consensus, while the unemployment rate was slightly lower. This has led to a pullback in the stock market, with SPDR S&P 500 ETF Trust (SPY) falling below the resistance zone but staying above the mini support zone. Money flows in major tech stocks turned positive after the report, and the momo crowd is buying stocks. The article suggests investors consider taking profits and adjusting their protection bands.

Portfolio Pulse from The Arora Report

January 05, 2024 | 5:59 pm

ALTM

Raymond James analyst Pavel Molchanov has maintained an Outperform rating on Arcadium Lithium (NYSE:ALTM) but reduced the price target from $30 to $11.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 5:54 pm

LLY

The Lilly Endowment, principal stakeholder in Eli Lilly & Co. (NYSE:LLY), has seen its assets grow to $60 billion, largely due to the success of Eli Lilly's weight-loss drug, Mounjaro. Eli Lilly's stock rose nearly 60% in the past year, enabling the endowment to increase its philanthropic giving to $2 billion in 2023. This growth brings the endowment closer to the Gates Foundation in terms of assets. However, analysts express concerns about the sustainability of the stock's performance in 2024 due to potential competition and valuation issues. The Lilly Endowment focuses on Indiana-based and religious organizations, operating independently from Eli Lilly despite shared board members.

Portfolio Pulse from Vandana Singh

January 05, 2024 | 5:51 pm

Goldman Sachs Group, Inc (NYSE:GS) employees are facing uncertainty at the start of 2024 after a year that began with significant layoffs. Instead of conducting mass firings, CEO David Solomon may use minimal year-end bonuses to encourage underperforming employees to leave voluntarily. This strategy aims to retain a substantial workforce in anticipation of a market upswing and increased deal-making. However, there is concern that this could lead to an exodus of top performers if bonuses are seen as inadequate. GS shares are trading higher by 0.80% at $386.01.

Portfolio Pulse from Anusuya Lahiri

January 05, 2024 | 5:51 pm

NVDA

Nvidia Corp. (NVDA) is highlighted as a top sector pick by BofA Securities analyst Vivek Arya, who maintains a Buy rating with a $700 price target. Arya forecasts $100 billion in FCF over CY24/CY25E, which Nvidia plans to use for growth initiatives, particularly in AI. Nvidia's shift towards recurring revenue and strategic investments, like the Mellanox acquisition, are key to its growth. Upcoming tradeshows could be catalysts for the stock, which is currently trading at a discount compared to peers.

Portfolio Pulse from Surbhi Jain

January 05, 2024 | 5:49 pm

TOWN

Raymond James analyst Steve Moss has maintained an Outperform rating on Towne Bank (NASDAQ:TOWN) and increased the price target from $28 to $32.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 5:48 pm