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PR

SFL

SND

As of Feb. 27, 2024, Smart Sand, Inc. (SND), Permian Resources Corporation (PR), and SFL Corporation Ltd. (SFL) are identified as overbought energy stocks with RSI values above 70, indicating potential short-term performance concerns. SND filed for a mixed shelf of up to $200 million, PR received a price target increase from Truist Securities, and SFL posted upbeat quarterly results.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 1:21 pm

NVDA

SOUN

SoundHound AI (NASDAQ:SOUN) stock surged over 21% in pre-market trading, with a year-to-date increase of 176%, largely due to Nvidia's (NASDAQ:NVDA) investment and other key catalysts including a SoftBank investment, positive analyst outlooks from Wedbush Securities and Northland Capital, and strategic positioning in the AI market. SoundHound AI specializes in voice-enabled AI and music recognition technology.

Portfolio Pulse from Surbhi Jain

February 27, 2024 | 1:14 pm

PYXS

Pyxis Oncology has announced a $50 million private placement, issuing 8,849,371 shares at a price of $4.78 per share. This move is aimed at raising capital to fund its operations and research activities.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:05 pm

ZCMD

Zhongchao Inc. (NASDAQ:ZCMD), a platform-based internet technology company, announced a 1-for-10 share consolidation approved by shareholders to regain compliance with Nasdaq Marketplace Rule 5550(a)(2). The consolidation will start on February 29, 2024, with Class A and B ordinary shares being consolidated at a ratio of 10:1. This move aims to maintain its Nasdaq Capital Market listing without altering shareholder percentage interests significantly, except for adjustments due to fractional shares.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:03 pm

DNLI

Denali Therapeutics has announced a $500 million private placement equity financing. This significant financial move is aimed at bolstering the company's capital, potentially to fund research, development, and possibly expand its operations.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:03 pm

FIVN

Five9, Inc. (NASDAQ:FIVN) shares dropped in premarket trading after announcing a $600 million convertible notes offering. The notes, due in 2029, are aimed at qualified institutional buyers, with an option for an additional $90 million. Proceeds will fund capped call transactions, repurchase existing notes, and support general corporate purposes. Despite recent revenue beats and a strong cash position, the announcement has led to a 5.35% decrease in share price.

Portfolio Pulse from Lekha Gupta

February 27, 2024 | 12:58 pm

SPY

VGK

Treasury Secretary Yellen is advocating for world leaders to release frozen Russian Central Bank assets to aid Ukraine. This move could have significant implications for global financial markets and geopolitical relations.

Portfolio Pulse from Charles Gross

February 27, 2024 | 12:52 pm

SCLX

SRNEQ

VRPX

Virpax Pharmaceuticals has reached a settlement with Sorrento Therapeutics and Scilex Pharmaceuticals, agreeing to pay $6 million in two installments and royalties on sales of certain drugs to settle all claims. The settlement includes no admission of liability and a release of all claims upon payment.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 12:43 pm

VRPX

Virpax Pharmaceuticals announced a 1-for-10 reverse stock split effective March 1, 2024, aimed at regaining compliance with Nasdaq's minimum bid price requirement.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 12:33 pm

SLAB

Silicon Labs (NASDAQ:SLAB), a leader in secure, intelligent wireless technology, announced Dean Butler as its new CFO, effective May 15, 2024. Butler will take over from interim CFO Mark Mauldin and will be responsible for the company's financial strategy and leading the global finance organization.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 12:14 pm