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BMY

CYTK

NVS

Novartis AG (NVS) has decided not to pursue the acquisition of Cytokinetics Inc (CYTK), a developer of a promising heart drug. Despite this, analysts predict Cytokinetics' cardiomyopathy drug could reach sales of $3.6 billion by 2032. Cytokinetics' aficamten has shown significant improvement in exercise capacity for patients with symptomatic obstructive hypertrophic cardiomyopathy (HCM) and could be available by 2025. It has also received Breakthrough Therapy designation from the FDA. HC Wainwright maintains a Buy rating for CYTK stock. Aficamten is considered a potential leading therapy for HCM, potentially more effective than Bristol Myers Squibb Co’s (BMY) Camzyos (mavacamten).

Portfolio Pulse from Vandana Singh

January 12, 2024 | 7:38 pm

Zoom Video Communications' stock (ZM) is trading higher following Piper Sandler's decision to maintain a Neutral rating while increasing the price target from $69 to $72.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 7:36 pm

ENPH

Enphase Energy's stock (ENPH) is trading lower following Piper Sandler's decision to maintain a Neutral rating and reduce the price target from $120 to $117.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 7:35 pm

AAL

BAC

DAL

DIA

GDX

GLD

IWM

JETS

NLOP

QQQ

SPY

TSLA

UAL

UNH

XLE

XLY

U.S. stocks showed mixed performance with the S&P 500 and Nasdaq stable, while the Dow Jones fell 0.4%. The PPI rose less than expected, and Bitcoin dropped over 6% after a spot ETF approval. Gold rose, surpassing $2,050/oz. UnitedHealth, Tesla, and Bank of America stocks fell post-earnings, while BNY Mellon and Net Lease Office Properties rose. Delta and other airlines declined due to revised earnings forecasts.

Portfolio Pulse from Piero Cingari

January 12, 2024 | 7:33 pm

BAC

SPY

Bank of America CEO Brian Moynihan appeared live on CNBC to discuss interest rates and the Federal Reserve's policies. His insights could influence market perceptions of the banking sector and monetary policy expectations.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 7:32 pm

HMC

Honda Motor Co's (NYSE:HMC) short interest has decreased by 13.33% since the last report, with 2.16 million shares sold short, representing 0.13% of available shares. The average time to cover these short positions is 2.66 days. A decrease in short interest can indicate a more bullish sentiment among investors. Honda's short interest is below its peer group average of 13.17%.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 7:30 pm

CMI

Cummins Inc. (NYSE:CMI) has experienced a 4.58% increase in short interest since its last report, with 1.95 million shares sold short, representing 1.37% of its float. It would take about 3.29 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Cummins has less short interest compared to its peer group average of 4.82%.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 7:30 pm

LRCX

Lam Research (NYSE:LRCX) has seen a 3.69% rise in short interest since its last report, with 2.96 million shares sold short, representing 2.25% of its float. It would take about 3.88 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Lam Research has less short interest compared to its peer group average of 6.63%. This data does not necessarily predict a near-term price drop, but indicates increased shorting activity.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 7:30 pm

GDRX

Truist Securities analyst Jailendra Singh has maintained a Hold rating on GoodRx Holdings (NASDAQ:GDRX) and increased the price target from $5.5 to $7.5.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 7:29 pm

AUVI

DAL

FLXS

GNS

MNTS

VCIG

WIT

U.S. stocks showed mixed performance with the S&P 500 and NASDAQ Composite rising, while the Dow fell. Energy shares gained 1% with crude oil prices increasing by 1.2%. Delta Air Lines (DAL) shares dropped over 8% after Q4 results, despite beating revenue and EPS estimates, due to conservative EPS guidance for the current year. Applied UV (AUVI), Flexsteel Industries (FLXS), and Wipro Limited (WIT) saw their shares surge after positive announcements. Genius Group (GNS) shares plummeted 47% following an $8.25 million public offering announcement. VCI Global (VCIG) and Momentus (MNTS) also saw significant declines after announcing their respective public offerings and funding issues.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 7:27 pm