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Marketing automation provider Klaviyo Inc's stock (NYSE:KVYO) rose by 16% on its trading debut. The company's IPO was priced above expectations, raising $576 million. Klaviyo's shares opened at $36.75, surpassing market expectations of $34 - $36. The company's investor roster includes BlackRock, Inc (NYSE: BLK), AllianceBernstein Holding L.P. (NYSE: AB), and Shopify Inc (NYSE:SHOP). Klaviyo reported a net income of $15 million and $321 million in revenue for the first half of this year.

Portfolio Pulse from Anusuya Lahiri

September 20, 2023 | 6:26 pm

DIS

Walt Disney Co (NYSE:DIS) plans to nearly double its investments in its theme parks, experiences and products segment over the next 10 years, totaling $60 billion. Bank of America analyst Jessica Reif Ehrlich maintains a Buy rating on Disney but lowered the price target from $135 to $110. Ehrlich believes that the recovery of Disney's theme parks post-COVID-19 has been impressive, with revenue and operating income surpassing pre-pandemic levels. However, she expects progress on Disney's four key priorities to take several quarters, if not years, to materialize.

Portfolio Pulse from Chris Katje

September 20, 2023 | 6:23 pm

GRRR

Gorilla Technology Group Inc (NASDAQ:GRRR) shares dropped by 16.5% after the company announced a $25 million registered direct offering of convertible preferred stock. The company plans to use the proceeds for working capital needs. The offering is expected to close on September 22.

Portfolio Pulse from Henry Khederian

September 20, 2023 | 6:06 pm

NKE

BofA Securities analyst Lorraine Hutchinson has reiterated a Neutral rating for Nike Inc (NYSE:NKE) and lowered the price target from $125 to $110. The analyst forecasts a 15% EPS growth but remains cautious due to uncertainty in China and the challenging U.S. wholesale environment. Nike's sportswear and footwear sales on Taobao and Tmall increased 8% in 1Q24. However, the analyst lowered Greater China constant currency sales forecast in 1Q to 10% due to volatile macroeconomic environment.

Portfolio Pulse from Shivani Kumaresan

September 20, 2023 | 6:05 pm

ETHUSD

Grayscale Investments has abandoned its rights to the post-Merge Proof-of-Work Ethereum (ETHPoW) tokens, citing lack of substantial liquidity and disapproval from the custodian of the products. This decision follows the Ethereum Merge event, which marked Ethereum's shift from a Proof-of-Work mechanism to a Proof-of-Stake system. Other crypto investment companies, such as ETC Group, have also faced challenges with EthereumPoW exchange-traded products.

Portfolio Pulse from Murtuza Merchant

September 20, 2023 | 5:45 pm

NNDM

Nano Dimension has announced that it has resumed its share repurchase plan, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 5:19 pm

AXP

A whale investor has taken a bullish stance on American Express (NYSE:AXP), with 54% of investors opening trades with bullish expectations. The whale has been targeting a price range from $140.0 to $185.0 for American Express over the last 3 months. RBC Capital upgraded its action to Outperform with a price target of $200. The price of AXP is up 0.21% at $159.68.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 4:47 pm

KVYO

Klaviyo's shares have started trading at $36.75 per share, which is higher than its IPO price of $30 per share.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:46 pm

URNM

Sprott Uranium Miners ETF (URNM) rose over 2% on Wednesday, with Bloomberg's senior ETF analyst, Eric Balchunas, predicting that Uranium ETFs could grow 2-3x in the next two years. Balchunas believes that the world's need for zero-carbon and affordable electricity, which nuclear energy provides, will drive this growth. From a technical analysis perspective, URNM could potentially surge about 33% in the short-to-medium term if it breaks up from its bull flag pattern.

Portfolio Pulse from Melanie Schaffer

September 20, 2023 | 4:39 pm

GRRR

Gorilla Technology Group has announced a $25 million registered direct offering of convertible preferred stock, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:19 pm