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ETSY

Etsy has announced the appointment of Marc Steinberg to its Board of Directors, with the appointment effective from February 5, 2024. This strategic move could signal Etsy's commitment to leveraging Steinberg's expertise for future growth and governance.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:23 pm

BTCUSD

ETHUSD

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin fell after the Fed left rates unchanged, signaling a temporary setback. Meanwhile, a new ETF allows investment in major tech stocks, and Binance faces a lawsuit for allegedly aiding terrorists. In the US, market sentiment declined following the Fed's decision, impacting stocks and the Dow. Globally, tensions with Iran and China's cyber activities raise concerns. Economic indicators suggest a looming recession, while in tech, Apple's new products and partnerships draw attention. The electric vehicle sector sees advancements and legal challenges for Tesla.

Portfolio Pulse from Akanksha Bakshi

February 01, 2024 | 1:22 pm

ITW

Illinois Tool Works (ITW) has provided its FY24 GAAP EPS guidance in the range of $10.00-$10.40, compared to the $10.18 estimate. The company expects an operating margin of 25.5 to 26.5 percent, with enterprise initiatives contributing about 100 basis points. ITW also plans to repurchase approximately $1.5 billion of its shares and anticipates a free cash flow greater than 100 percent of net income. The projected effective tax rate is expected to be between 24 to 24.5 percent.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:07 pm

CROX

Crocs, Inc. announced the appointment of Anne Mehlman as EVP & President of Crocs Brand, succeeding Michelle Poole who plans to retire. Mehlman will continue as CFO until a replacement is found, with a search for a new CFO underway.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:02 pm

ABOS

Acumen Pharmaceuticals has announced the appointment of James Doherty as President and Chief Development Officer, effective February 1, 2024. This strategic move aims to strengthen the company's leadership as it advances its development programs.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:31 pm

NSC

An investor group led by Ancora, holding a $1B stake in Norfolk Southern, is pushing to oust CEO Shaw, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

February 01, 2024 | 12:27 pm

KEX

Kirby Corp announced the retirement of Chairman Joseph H. Pyne, effective April 26, 2024, after serving since April 2010. Richard J. "Dick" Alario, a board member since 2011 and Lead Independent director since 2021, will succeed him. Additionally, Rocky B. Dewbre will not seek reelection after his term ends on the same date.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:14 pm

BR

Broadridge Financial Solutions (BR) has reaffirmed its fiscal year 2024 financial guidance, maintaining its projections for recurring revenue growth of 6%-9% YoY, adjusted operating income margin of around 20%, and adjusted EPS growth of 8%-12% YoY versus an estimated $7.73. The company also expects closed sales to be between $280M and $320M, with no changes to its previous forecasts.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:10 pm

LII

Analysts have provided diverse opinions on Lennox Intl (LII) with a recent shift towards bullish ratings. The average 12-month price target has been raised to $494.8, indicating a 20.19% increase from the previous target. Lennox Intl's financial performance shows strong revenue growth and ROE, but challenges in net margin and debt management. The company focuses on HVAC and refrigeration products, primarily in North America.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 12:00 pm

BG

Bunge Global (NYSE:BG) received mixed analyst ratings with a shift towards a more cautious outlook, as evidenced by lowered price targets and a decrease in the average 12-month price target from $136.67 to $118. Analysts from Citigroup, Goldman Sachs, Baird, and Barclays adjusted their ratings and price targets, reflecting changes in market conditions and Bunge Global's performance. Despite a revenue decline of -15.11% over the past 3 months, Bunge Global maintains strong profitability indicators such as a net margin of 2.62%, ROE of 3.58%, and ROA of 1.47%, with a conservative debt-to-equity ratio of 0.58.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 12:00 pm