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Equity Actions

CMTL

Comtech Telecommunications Corp. has received a $45 million strategic investment through the exchange of convertible preferred stock, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:58 pm

DNTH

Dianthus Therapeutics' stock price has risen following the announcement of a $230 million private placement. This influx of capital is likely to be used to fund the company's operations and development projects, which could be a positive signal for investors about the company's future prospects.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:54 pm

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), co-founded OpenAI but left due to disagreements, launching a competitor, xAI. Musk invested over $40 million in OpenAI, which he envisioned as open-source, but it became profit-focused. Musk's xAI, with $134.7 million raised from investors, aims to innovate in AI, challenging OpenAI's market position. Musk's experience and strategic vision could make xAI a formidable player in the AI space, despite OpenAI's first-mover advantage.

Portfolio Pulse from Caleb Naysmith

January 22, 2024 | 5:37 pm

AAPL

AMD

ARM

INTC

MARA

MSFT

NVDA

SMCI

TSM

WDC

Today's session revealed significant options activity for several information technology stocks, with whale alerts indicating potential trading opportunities. Large volumes of contracts were traded for companies like AMD, NVDA, AAPL, WDC, MSFT, ARM, SMCI, TSM, INTC, and MARA. The sentiment of these trades ranged from bullish to bearish, with varying expiration dates and strike prices. Notable were bullish call sweeps for AMD and NVDA, a bearish put sweep for AAPL, and mixed sentiments for others like WDC and INTC.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 5:35 pm

DIA

QQQ

SPY

The S&P 500, Dow Jones, and Nasdaq 100 indices have reached all-time highs, raising questions about market overvaluation. Current valuations are slightly above historical averages, with the S&P 500's forward P/E ratio at 19.5, the Dow's at 18.4, and the Nasdaq 100's at 25.9. Despite this, the market does not show signs of severe overvaluation. Sector-specific P/E ratios within the S&P 500 vary, with Information Technology and Consumer Discretionary sectors having the highest ratios.

Portfolio Pulse from Piero Cingari

January 22, 2024 | 5:34 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares are experiencing a slight increase despite a recent 40% drop over the past month. The company has entered into a market issuance sales agreement to sell up to $1 billion of its common stock. KeyBanc Capital Markets analyst Sangita Jain anticipates further pressure on the stock due to multiple growth headwinds. Plug Power is set to host a business update conference call, which could provide more insights into the company's future plans and financial health.

Portfolio Pulse from Erica Kollmann

January 22, 2024 | 5:34 pm

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