Market-Moving News for July 26th
Portfolio Pulse from ryanfaloona@benzinga.com
Banc of California and PacWest are set to merge in an all-stock transaction, with PacWest shareholders receiving 0.6569 shares of Banc of California per PacWest share. Ault Alliance reports preliminary Q2 2023 revenue of $47 million, a 172% increase from Q2 2022 and a 52% increase from Q1 2023. Cantor Fitzgerald initiates coverage on Gorilla Tech Gr with an overweight rating and a price target of $4.8.
July 26, 2023 | 12:31 pm
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POSITIVE IMPACT
Ault Alliance reports preliminary Q2 2023 revenue of $47 million, a 172% increase from Q2 2022 and a 52% increase from Q1 2023.
The significant increase in revenue reported by Ault Alliance could lead to a positive investor sentiment and a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Cantor Fitzgerald initiates coverage on Gorilla Tech Gr with an overweight rating and a price target of $4.8.
The initiation of coverage by Cantor Fitzgerald with an overweight rating could lead to increased investor interest in Gorilla Tech Gr, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
PacWest is merging with Banc of California in an all-stock deal, with PacWest shareholders receiving 0.6569 shares of Banc of California per PacWest share.
The merger with Banc of California could potentially increase the value of PacWest shares, as shareholders will receive shares of Banc of California. This could lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100