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Equity Actions

GMBL

Esports Entertainment Group, Inc. (GMBL) announced an update to its voluntary delisting from the Nasdaq, effective at the opening of trading on February 21, 2024. The company's securities, including Common Stock, Series A Preferred Stock, and Common Stock Warrants, will be suspended on Nasdaq and initially quoted on the OTC Pink Market, with plans to move to the OTCQB Venture Market subsequently.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 7:21 pm

CTLT

Recent analysis of Catalent (NYSE:CTLT) by 5 analysts over the past three months shows a unanimous indifferent stance with no change in sentiment in the last 30 days. The 12-month price target for CTLT has been adjusted to an average of $60.2, marking a 12.17% increase from the previous target of $53.67. Despite this optimistic adjustment in price targets, Catalent's financial health indicators such as market capitalization, revenue growth, net margin, ROE, ROA, and debt management suggest potential challenges ahead. The company's reliance on borrowed funds and below-average profitability and efficiency metrics could impact its stock performance.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 7:00 pm

SNPS

Synopsys (NASDAQ:SNPS) has received mixed analyst ratings over the past three months, with 13 analysts offering evaluations. The ratings include 8 bullish and 5 somewhat bullish, with a notable increase in the average 12-month price target to $622.31 from $571.00, indicating a positive outlook. Analysts from firms like Rosenblatt, Needham, B of A Securities, Wells Fargo, Baird, Stifel, and Keybanc have adjusted their ratings and price targets, reflecting changing market dynamics and company performance. Synopsys's financials show strong revenue growth, net margin, and ROA, but a lower ROE compared to industry averages.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 7:00 pm

C

Citigroup CFO Mark Mason indicated at a BOFA conference, as reported by Reuters, that consumer spending growth is expected to slow. However, there's an improvement in demand for mergers, acquisitions, and debt capital markets. Client sentiment is described as 'cautiously optimistic'. Mason also noted that Citigroup is well-positioned to capture market share in investment banking as the market rebounds.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 6:48 pm

BFRI

Biofrontera announced a private placement of up to $16 million, priced at the market per Nasdaq rules, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 6:04 pm

BFRI

Biofrontera Inc. (NASDAQ:BFRI) shares surged after announcing a $16 million financing deal with healthcare-focused institutional investors led by Rosalind Advisors. The deal includes $8 million in Series B-1 Convertible Preferred Stock and warrants for Series B-3 Convertible Preferred Stock. Additionally, Biofrontera restructured agreements with its former parent company, Biofrontera AG, reducing the transfer price of Ameluz from 50% to 25% for 2024 and 2025. The stock's trading volume spiked, with over 24.2 million shares traded, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

February 20, 2024 | 6:02 pm

BMR

Beamr Imaging Ltd. (NASDAQ:BMR) announced the launch of Beamr Cloud Video Software as a Service, aimed at optimizing video processing at scale. The service, showcased on Amazon AWS, offers up to 50% savings compared to traditional methods and includes features like codec modernization and AI-specific workflows. Beamr's CEO, Sharon Carmel, highlighted the service's efficiency, quality, and scalability, positioning it as a game-changer in the rapidly growing video processing industry.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:42 pm

CCI

Crown Castle Inc. (CCI) has rejected a slate of directors nominated by Ted Miller's Boots Capital for its Board, focusing instead on a CEO search and a strategic review of its fiber business. The company has made significant progress, including appointing three new independent directors and initiating a comprehensive review of its fiber operations with the help of top advisors. CCI's Board will present its formal recommendation for the election of directors at the 2024 Annual Meeting of Stockholders scheduled for May 22, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:40 pm

ABNB

AMZN

BABA

DASH

HD

TSLA

Today's session highlighted unusual options activity for six consumer discretionary stocks, indicating potential trading opportunities based on whale alerts. These alerts, tracking large transactions, showed a mix of bullish and bearish sentiments across TSLA, AMZN, DASH, BABA, ABNB, and HD. The activities varied from call option sweeps with bearish sentiment on TSLA to bullish put trades on ABNB, each with specific expiration dates, strike prices, and total trade prices.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 5:35 pm

SYBX

Synlogic, Inc. (NASDAQ:SYBX) has adopted a limited duration shareholder rights plan and authorized a dividend distribution of one right for each outstanding share of common stock, effective immediately with a one-year duration, expiring on February 20, 2025. The plan is a response to unsolicited share accumulation by an investor, aiming to protect stockholders and ensure fair value in case of control changes. The rights become exercisable if an entity acquires 15% or more of Synlogic's stock without Board approval. Synlogic has also engaged Ladenburg Thalmann & Co. Inc. as a financial advisor to explore strategic options to maximize shareholder value.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:18 pm