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Equity Actions

VIRT

Virtu Financial Inc. (NASDAQ:VIRT) experienced a significant drop in its stock price, trading at $17.19 after a 10.47% decrease. Over the past month and year, the stock has declined by 15.74% and 13.54%, respectively. The company's P/E ratio of 11.7 is lower than the Capital Markets industry average of 28.66, which could suggest that the stock is undervalued or that shareholders have low expectations for future performance.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 4:00 pm

LUMN

Lumen Technologies' stock is trading higher following the announcement of an amended and restated transaction support agreement with a group of creditors.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:56 pm

AKTS

Akoustis Technologies' stock price is trading lower following the announcement of a public offering of $10 million of its common stock.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:55 pm

AKTS

INBS

LVTX

ONCO

PCSA

RDHL

U.S. stocks opened higher with the Dow Jones gaining over 100 points. Real estate shares led the gains, while consumer discretionary shares lagged. The U.S. GDP growth for Q4 outpaced estimates at 3.3% compared to the expected 2%. Onconetix, Inc. (ONCO), Processa Pharmaceuticals, Inc. (PCSA), and LAVA Therapeutics N.V. (LVTX) saw significant stock price increases due to specific company news. Conversely, RedHill Biopharma Ltd. (RDHL), Akoustis Technologies, Inc. (AKTS), and Intelligent Bio Solutions Inc. (INBS) experienced notable declines following company-specific announcements.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 3:42 pm

NCDL

Nuveen Churchill Direct Lending Corp. (NCDL) shares began trading at $17.85 per share, below the IPO price of $18.05 per share on an offering of 5.5 million shares.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:32 pm

AMD

AVGO

NVDA

QCOM

SOXX

Broadcom Inc (NASDAQ:AVGO) stock reached a new all-time high of $1,284.55, driven by the semiconductor and AI boom. The stock has surged over 114% in the past year, outperforming the iShares Semiconductor ETF (NASDAQ:SOXX) and the S&P 500. Broadcom's strong financial performance and strategic positioning in the digital transformation market contribute to its success. Compared to peers like AMD (NASDAQ:AMD), NVIDIA (NASDAQ:NVDA), and Qualcomm (NASDAQ:QCOM), Broadcom offers better value with a forward P/E of 22.47. Analysts from Goldman Sachs and Cantor Fitzgerald have set price targets of $1,325 and $1,300, respectively, suggesting modest upside potential.

Portfolio Pulse from Surbhi Jain

January 25, 2024 | 3:17 pm

RDHL

Redhill Biopharma's stock price has declined following the announcement of an $8 million registered direct offering. The offering could dilute existing shareholders' equity, leading to the negative market reaction.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:08 pm

CMCSA

Comcast Corporation's stock (CMCSA) is trading higher following the announcement of its Q4 earnings that surpassed expectations. The company also declared a $15 billion stock buyback program and increased its dividend, signaling confidence in its financial stability and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:07 pm

AKTS

Akoustis Technologies Inc (NASDAQ:AKTS) stock plummeted 30.6% to $0.49 after announcing a public offering of 20 million shares at $0.50 each, aiming to raise $10 million. The offering, managed by Roth Capital Partners, will fund operations, growth, and R&D. The underwriters have an option for an additional 3 million shares, with the offering's closing expected around January 29.

Portfolio Pulse from Henry Khederian

January 25, 2024 | 3:05 pm

VUG

Rep. Blake Moore from Utah reported purchasing Vanguard Growth ETF (VUG) stock valued between $102,003 and $280,000 on January 24, 2024. The shares of VUG were trading up 0.31% at $323.67 at the time of the report. Congressional transactions are considered significant as they can indicate expectations about stock performance, but they are not the sole factor for investment decisions. The STOCK Act prevents Congress members from using non-public information for personal gain.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 3:05 pm