Streetbeat News

Equity Actions

INSG

Inseego Corp. (NASDAQ:INSG) announced a 1-for-10 reverse stock split effective after market close on January 23, 2024. The stock will trade on a split-adjusted basis starting January 24, 2024, under the same symbol but with a new CUSIP number. This follows stockholder approval at the annual meeting on September 5, 2023, and board of directors' subsequent decision. The reverse split will reclassify each share into 1/10 of a share, with cash in lieu of fractional shares. The par value and authorized shares remain unchanged, and convertible notes will be adjusted accordingly.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:01 pm

WEC

Analysts have updated their ratings and price targets for WEC Energy Group (NYSE:WEC), with 7 different analysts offering varied perspectives. The average 12-month price target is now $85.86, down from $88.29. Analyst actions include both downgrades and upgrades, with price targets ranging from $78.00 to $95.00. WEC Energy Group operates in the utility sector, serving customers in several states and owning a stake in American Transmission Co. Despite a recent revenue decline, the company has a strong market position, efficient cost management, and healthy financial metrics such as a high net margin and ROE.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 5:01 pm

CMA

Over the past three months, 12 analysts have provided diverse ratings for Comerica (NYSE:CMA), ranging from bullish to bearish. The average 12-month price target for CMA is $56.12, with a high of $70.50 and a low of $45.00, reflecting a 14.25% increase from the previous target. Analysts from firms like Keefe, Bruyette & Woods, Raymond James, and Goldman Sachs have adjusted their ratings and price targets, responding to market dynamics and Comerica's performance. Comerica, a Dallas-based financial services company, has a lower market cap compared to industry averages and experienced a revenue decline of -9.04% as of September 30, 2023. However, it boasts a high net margin of 27.23% and an ROE of 4.99%, but a lower ROA of 0.28% and a high debt-to-equity ratio of 2.37.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 5:00 pm

GYRO

Gyrodyne, LLC (NASDAQ:GYRO) has set January 29, 2024, as the record date for a proposed rights offering aiming to raise $5 million. Shareholders as of this date will receive rights to buy additional shares at $8.00 each. The offering includes a basic subscription privilege and an oversubscription privilege. Proceeds will fund entitlements for Flowerfield and Cortlandt Manor properties, litigation expenses, property negotiations, capital improvements, and general working capital. The offering is pending SEC approval of the Registration Statement.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 4:16 pm

ALIT

VTRS

David Einhorn's Greenlight Capital has built new long positions in Alight, Inc. (ALIT) and Viatris Inc. (VTRS), as revealed in the firm's quarterly letter, which traders are actively circulating.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 4:15 pm

FSR

Fisker Inc. has filed a Form 8-K with the SEC, reporting new agreements with an investor regarding its 2025 convertible notes. The agreements include the release of liens on intellectual property upon a deal with a strategic OEM partner and the waiver of financial covenants related to restricted cash. Fisker's outstanding debt has been reduced by $185.5M to $324.5M, reflecting the conversion of debt to equity by the investor.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 4:03 pm

F

The article provides a performance comparison of Ford Motor Co (NYSE:F) against its competitors in the Automobiles industry. It highlights Ford's lower-than-average financial metrics such as P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth. Ford's market share is expected to increase post-chip shortage, and it operates its combustion engine and BEV businesses separately. The company's high debt-to-equity ratio is noted as a potential risk. The analysis suggests Ford may be undervalued but faces challenges in profitability and growth.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 4:01 pm

PFE

The analysis compares Pfizer (NYSE:PFE) to its competitors in the Pharmaceuticals industry, focusing on financial metrics like P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth. Pfizer's metrics suggest potential undervaluation and lower profitability compared to the industry average. The company's low debt-to-equity ratio indicates a stronger financial position relative to its top 4 peers.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 4:01 pm

XNCR

Analysts have recently updated their ratings and price targets for Xencor (NASDAQ:XNCR), with 4 analysts offering opinions ranging from bullish to bearish. The average 12-month price target is now $38.00, down from $43.00, with a high estimate of $50.00 and a low of $32.00. Analysts from Mizuho, Guggenheim, RBC Capital, and Wedbush have all lowered their price targets. Xencor is a clinical-stage biopharmaceutical company with positive revenue growth and strong financial health indicators such as ROE and ROA, but with a revenue growth rate lower than the Health Care sector average.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 4:00 pm

SRE

Sempra (NYSE:SRE) has been analyzed by 6 financial analysts, showing a range of opinions from bullish to bearish. The average 12-month price target is $79.42, with a high of $86.00 and a low of $73.00, indicating a 3.68% increase from the previous target. Analysts from Barclays, BMO Capital, Ladenburg Thalmann, JP Morgan, and Morgan Stanley have adjusted their ratings and price targets, reflecting their views on Sempra's market position and financial health. Sempra's market cap is above industry average, but it saw a -7.82% decline in revenue growth. However, it maintains strong net margin, ROE, and ROA, with a moderate debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 4:00 pm