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Equity Actions

UNF

UniFirst Corp (NYSE:UNF) shares fell after reporting Q1 FY24 results with higher sales and adjusted EPS beating consensus, but the company expects to hit the lower end of its FY24 revenue guidance. Costs related to system upgrades and branding initiatives impacted operating income and EBITDA. The company has a strong balance sheet with no long-term debt and has authorized a new $100 million share repurchase program, with $99.7 million remaining after initial buybacks. UniFirst also increased its quarterly dividends.

Portfolio Pulse from Lekha Gupta

January 03, 2024 | 3:46 pm

COIN

GBTC

TSLA

Bitcoin celebrates its 15th birthday with 15 fun facts, highlighting its history, impact on companies like Coinbase (NASDAQ:COIN), and the potential for Bitcoin ETFs. The article mentions the first Bitcoin purchase, Ethereum's co-founder's early involvement with Bitcoin, lost Bitcoin wallets, the anonymous creator Satoshi Nakamoto, and the influence of Bitcoin on companies like Tesla (NASDAQ:TSLA) and Block Inc (NYSE:SQ). It also discusses the pending approval of Bitcoin ETFs, including Grayscale Bitcoin Trust's (OTC:GBTC) potential conversion into an ETF.

Portfolio Pulse from Chris Katje

January 03, 2024 | 3:33 pm

ARWR

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares rose 5.4% to $32.68 after pricing an underwritten offering of approximately 15.79 million shares at $28.50 per share. The offering is expected to close around January 5, with gross proceeds of about $450 million before expenses and commissions. Jefferies, BofA Securities, and TD Cowen are managing the offering. The proceeds will be used for research, development, general corporate expenses, and working capital. ARWR's 52-week range is $27.85 to $54.60.

Portfolio Pulse from Henry Khederian

January 03, 2024 | 3:30 pm

IUSG

IUSV

LVS

MRNA

TNL

VAC

VTRS

The U.S. stock market saw a significant sell-off in technology stocks, leading to the worst start of the year in decades. The S&P 500 and Nasdaq 100 fell 0.6% and 1.7%, respectively. Value stocks, however, performed well, with the iShares Core S&P U.S. Value ETF (IUSV) reaching a 7-month high. Moderna, Viatris, Travel Leisure, Las Vegas Sands, and Marriott Vacations were top gainers among value stocks. Key contributors to IUSV's performance included Berkshire Hathaway, Exxon Mobil, Johnson & Johnson, UnitedHealth Group, and Merck & Co. JPMorgan Chase, Intel, Bank of America, Wells Fargo, and Verizon Communications were top contributors to value performance over the last month.

Portfolio Pulse from Piero Cingari

January 03, 2024 | 3:26 pm

DIS

Nelson Peltz, during a conversation with Jim Cramer, stated that ValueAct's perspective does not influence Trian's stance on Disney.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:23 pm

CHS

PDCO

PSTG

Shares of Pure Storage Inc (NASDAQ:PSTG) are rising after the announcement that the company will join the S&P MidCap 400, replacing Patterson Companies Inc. Patterson will move to the S&P SmallCap 600, taking the place of Chico's FAS Inc, which is being acquired by Sycamore Partners. The market capitalization adjustment and acquisition are prompting these index changes, which will be effective before the market opens on Friday. At the time of publication, PSTG shares had increased by 4.98% to $36.56.

Portfolio Pulse from Adam Eckert

January 03, 2024 | 3:18 pm

EQH

Equitable Hldgs (NYSE:EQH) has been rated by 8 analysts in the past three months, with a mix of bullish and indifferent sentiments. The average 12-month price target is $35.38, slightly up from the previous $35.00. Analysts from firms like JP Morgan, Jefferies, and Barclays have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Equitable Holdings Inc. is a financial services company with segments in retirement, investment management, and protection solutions. The company shows strong revenue growth and ROE but faces challenges in net margin, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 3:01 pm

OPEN

Opendoor Technologies (NASDAQ:OPEN) has been reviewed by 4 analysts over the last three months, with a mix of opinions. The average 12-month price target is now $3.45, up from $3.05, with a high of $5.00 and a low of $2.50. Analysts from JMP Securities, Keefe, Bruyette & Woods, Deutsche Bank, and Morgan Stanley have updated their ratings and price targets. Opendoor's financial performance shows a significant revenue decline of -70.84% over 3 months, a net margin of -10.82%, and an ROE of -10.07%, with a debt-to-equity ratio of 2.8.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 3:00 pm

APTV

Analysts have recently updated their ratings and price targets for Aptiv (NYSE:APTV), showing a negative shift in sentiment. The average 12-month price target is now $120.22, down 2.15% from previous estimates. Several analysts from firms like Baird, Morgan Stanley, and Citigroup have lowered their price targets, while others like JP Morgan and Oppenheimer have announced or maintained their ratings. Aptiv's financial performance is strong, with significant revenue growth, high net margin, and ROE, as well as a healthy debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 3:00 pm

ARE

Alexandria Real Estate Equities Inc (NYSE:ARE) has been analyzed by 5 analysts, showing a mix of bullish and bearish sentiments. The average 12-month price target is now $132.00, down from $156.00, with a high estimate of $154.00 and a low of $108.00. Analyst actions include ratings and price target adjustments from firms like Mizuho, JMP Securities, Wedbush, Exane BNP Paribas, and RBC Capital. Alexandria is an urban office REIT with strong market presence and financials, showing solid revenue growth, high net margin, and good ROE and ROA, with a conservative debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 3:00 pm