Streetbeat News

Assets

FNB

F N B Corporation's (NYSE:FNB) short interest has increased by 3.6%, with 10.24 million shares sold short, representing 3.74% of its float. This indicates a bearish market sentiment, as it takes traders approximately 5.52 days to cover their short positions. Despite this, an increase in short interest can sometimes be bullish, and F N B has a higher short interest than its peer group average of 3.52%.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 2:00 pm

CVCY

CWBC

Central Valley Community Bancorp (CVCY) and Community West Bancshares (CWBC) announced shareholder approval for their merger, expected to complete by April 1, 2024. The combined entity will be named Community West Bancshares, with approximately $3.6 billion in assets and 27 banking centers in Central California. The merger has received all required regulatory approvals, with operational system conversion expected by Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 1:51 pm

GURE

Gulf Resources, Inc. (GURE) provided an update on the Yuxin Chemical factory, indicating a delay in ordering remaining equipment due to the weak Chinese economy, particularly in the housing market which significantly consumes bromine. The company is exploring other market segments, including pharmaceuticals and sodium-ion batteries, as potential areas for growth. GURE is also monitoring geopolitical tensions in the Middle East, which could impact global bromine markets. The company is considering the production of sodium-ion batteries as a future direction, depending on the economic situation.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 1:36 pm

BIOL

CNSP

GILD

REVB

ZLAB

The article highlights the top 5 oversold health care stocks preparing for potential growth in February, based on their Relative Strength Index (RSI) values. BIOLASE, CNS Pharmaceuticals, Revelation Biosciences, Gilead Sciences, and Zai Lab Limited are identified as major players with RSI near or below 30, indicating they may be undervalued. Recent company updates and stock performance are also provided.

Portfolio Pulse from Avi Kapoor

February 09, 2024 | 1:35 pm

CC

Chemours (NYSE:CC) has seen a 9.03% increase in short interest since its last report, with 5.21 million shares sold short, representing 4.71% of its float. This indicates a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. Chemours has a higher short interest compared to its peers, with an average of 3.89% in its peer group.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 1:30 pm

ATKR

Atkore (NYSE:ATKR) has seen a decrease in short interest, with 4.56 million shares sold short, representing 16.19% of its float. This is a 6.36% drop from its last report, requiring 14.24 days on average for traders to cover their short positions. Short interest is a key indicator of market sentiment, and Atkore's short interest is higher than its peer group average of 9.41%. This suggests varying investor sentiment towards Atkore, with the current decrease potentially signaling a more bullish outlook.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 1:30 pm

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) is expanding its global footprint by constructing a second factory in Japan, aiming to diversify chip production and reduce reliance on its Taiwan facilities. The new plant in Kumamoto will produce advanced 6-nanometer chips and is expected to be operational by 2027. This expansion is part of TSMC's strategy to increase its production capacity outside Taiwan to over 20% by 2028. The company's stock (TSM) saw a premarket increase of 0.76% to $134.74, following a 38% gain last year driven by the AI technology demand surge.

Portfolio Pulse from Anusuya Lahiri

February 09, 2024 | 1:23 pm

LTRY

Lottery.com Inc. (NASDAQ: LTRY, LTRYW) announced an increase in its fundraising efforts from $1M to $5M due to strong investor interest, facilitated by Univest Securities, LLC. The funds are aimed at general working capital, exploring new acquisitions, and investing in operations to normalize services. This reflects confidence in Lottery.com's strategy and operational capabilities, marking a significant step in the company's growth and expansion plans.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 1:11 pm

SSL

Sasol anticipates a challenging macro-economic environment ahead, characterized by weaker oil and petrochemical prices, fluctuating product demand, and persistent inflationary cost pressures. This outlook reflects the company's expectations for the near future, impacting its financial performance and strategic planning.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 12:58 pm

PAA

Plains All American Pipeline (PAA) projects its 2024 Adjusted EBITDA to be between $2.625B and $2.725B, with an expected Adjusted Free Cash Flow of approximately $1.65B. The company plans to increase its annualized common distribution to $1.27 per unit, a 19% rise from 2023. PAA aims to maintain a leverage ratio between 3.25x and 3.75x, indicating a strong balance sheet. The firm also anticipates investing around $375 million in full-year 2024 Investment and Maintenance Capital, net to PAA.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 12:45 pm