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ASTS

AST SpaceMobile, Inc. (NASDAQ:ASTS) CEO Abel Avellan released a shareholder letter highlighting strategic investments from AT&T, Google, and Vodafone totaling $306.5 million. The investments, including 10-year subordinated convertible notes and non-dilutive commercial payments, will support the company's mission to deliver space-based cellular broadband connectivity. AST SpaceMobile has secured commercial revenue with AT&T and Vodafone, and is collaborating with Google on product development for Android devices. The funding will help launch the next-generation BlueBirds satellites and maintain the company's momentum.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:35 pm

DOOO

BRP Inc.'s stock is trading lower following the announcement of a secondary offering on a bought deal basis, which was agreed upon between the company, Bain Capital Integral Investors II, and RBC Capital Markets.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:25 pm

CSIQ

Canadian Solar Inc. (NASDAQ:CSIQ) stock is rising after its subsidiary, Recurrent Energy, secured a $500 million investment from BlackRock. The investment, convertible into common equity, will account for 20% of Recurrent Energy's fully diluted shares post-conversion. Canadian Solar will retain the majority stake. The capital will help scale Recurrent Energy to meet the growing demand for renewable energy. High short interest in CSIQ shares may also be affecting stock volatility.

Portfolio Pulse from Erica Kollmann

January 23, 2024 | 4:16 pm

BSX

Boston Scientific (NYSE:BSX) has seen a 20% decrease in short interest since its last report, with 9.35 million shares sold short, representing 0.64% of its float. The current short interest suggests it would take 1.73 days to cover all short positions. A decrease in short interest can indicate a more bullish sentiment towards the stock, although it does not guarantee a price rise. Boston Scientific's short interest is below its peer group average of 3.53%.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 4:15 pm

CSIQ

Canadian Solar's subsidiary, Recurrent Energy, received a $500 million capital commitment from BlackRock to expand its renewable energy platform. This investment could bolster Canadian Solar's position in the renewable energy sector and potentially enhance its financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:13 pm

DCGO

A comprehensive analysis of DocGo (NASDAQ:DCGO) against its competitors in the Health Care Providers & Services industry reveals that DocGo is undervalued based on P/E, P/B, and P/S ratios, and has a higher ROE, gross profit, and revenue growth compared to industry averages. The company's moderate debt-to-equity ratio suggests a balanced financial structure.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 4:01 pm

VZ

An industry comparison of Verizon Communications (NYSE:VZ) with its competitors in the Diversified Telecommunication Services industry reveals that VZ has a lower P/E, P/B, and P/S ratios compared to the industry average, suggesting potential undervaluation. VZ's ROE is higher than the industry average, indicating efficient equity use and profitability. However, VZ's EBITDA, gross profit, and revenue growth are below the industry average, which may signal financial challenges or slower growth.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 4:01 pm

PR

Six analysts have recently updated their ratings on Permian Resources (NYSE:PR), with a mix of bullish, somewhat bullish, and indifferent stances. The average 12-month price target is now $16.00, down from $17.00, with a high estimate of $18.00 and a low of $14.00. Analysts from RBC Capital, B of A Securities, UBS, Stifel, Wells Fargo, and Susquehanna have provided various ratings and price target adjustments. Permian Resources has shown a revenue growth rate of 37.97% as of September 30, 2023, but has below-average net margin, ROE, and ROA, with a conservative debt-to-equity ratio of 0.63.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 4:00 pm

BABA

Alibaba co-founders Jack Ma and Joe Tsai have collectively purchased over $200 million in Alibaba shares, with Tsai's entity Blue Pool acquiring nearly 2 million depository shares and Ma buying $50 million worth of Hong Kong stock. This activity has led to a 6% pre-market increase in Alibaba's stock. The company has faced challenges, including a canceled spinoff of its cloud business and regulatory pressures, which have resulted in a 21% stock decline since the canceled spinoff. Alibaba's market cap is over $174 billion.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 3:42 pm

IBCP

Independent Bank Corporation (NASDAQ:IBCP) has announced an increase in its quarterly cash dividend from $0.23 to $0.24 per share, payable on February 15, 2024, to shareholders of record as of February 5, 2024. This marks an annual increase for the eleventh consecutive year, reflecting the company's strong operating performance, capital position, and positive future outlook.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 3:20 pm