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Equity Actions

ZBH

Zimmer Biomet Holdings, Inc. (ZBH) has announced a leadership transition with Ivan Tornos, the current COO, being appointed as President and CEO. Suketu Upadhyay, the CFO, will have his role expanded to include overseeing global Operations and Supply Chain functions. The company has reaffirmed its full-year 2023 financial guidance. The outgoing CEO, Bryan Hanson, will be assuming the role of CEO of the healthcare spinoff of 3M.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 12:21 pm

FULC

PMN

The FDA has lifted the clinical hold on Fulcrum Therapeutics' FTX-6058 for Sickle Cell Disease, causing a 60% increase in FULC's stock. ProMIS Neurosciences has announced a $20.4M private placement financing at $1.88/unit, leading to a 52% increase in PMN's stock. Fabrinet's Q4 EPS of $1.86 beat the $1.80 estimate and sales of $655.87M beat the $641.41M estimate, resulting in a 20% increase in FN's stock.

Portfolio Pulse from ryanfaloona@benzinga.com

August 22, 2023 | 11:57 am

NVDA

QQQ

SPY

US stocks are expected to continue their rally, with investors anticipating positive remarks from Federal Reserve Chair Jerome Powell and a strong quarterly report from Nvidia Corp. The tech-heavy Nasdaq Composite Index and the S&P 500 Index both closed higher on Monday, while the Dow Industrials Average and the small-cap Russell 2,000 Index closed lower. In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF both saw gains. Several companies, including Zoom Video Communications, Baidu, Tesla, and Nvidia, saw their stocks rise in premarket trading.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 11:12 am

MIND

MIND Technology has announced the sale of its Klein unit for a cash consideration of $11.5 million.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:02 am

MDT

Medtronic has raised its FY24 revenue growth and EPS guidance. The company increased its FY24 organic revenue growth guidance to 4.5% from the prior range of 4.0% to 4.5%. The FY24 diluted non-GAAP EPS guidance has been increased from the prior range of $5.00 to $5.10 to the new range of $5.08 to $5.16. The company's CFO attributes this to revenue outperformance and focus on expense management.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:47 am

WPRT

Westport Fuel Systems announced that CEO David Johnson has decided to step down and resign from the board, effective immediately. Tony Guglielmin, a member of the Westport Board and Chair of the Audit Committee, will serve as interim CEO until a replacement is found.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:32 am

CSIQ

DNN

EBS

GEVO

PCT

WALD

Several stocks are recording losses in Tuesday's pre-market trading session. PureCycle Technologies shares fell 11.7% after announcing a private offering of $200.0 million of green convertible senior notes. Emergent BioSolutions shares declined 8.2% as it will be replaced in the S&P SmallCap 600 by Advance Auto Parts. Waldencast shares fell 5.3% after a 29% jump on Monday. Gevo shares fell 3.4% after Northland Capital Markets initiated coverage with a Market Perform rating. Canadian Solar shares fell 2.9% following Q2 results. Denison Mines shares fell 2.1% after a 4% gain on Monday.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 10:24 am

NVDA

SPY

On Monday, US markets ended mixed with Nasdaq up more than 1% due to surging NVIDIA Corp and other tech stocks. S&P 500 saw gains from consumer discretionary and IT, while real estate, consumer staples, and energy stocks closed lower. Asian and European markets were up, with tech sector gains noted. Commodities were mixed, with crude oil and natural gas down, but gold, silver, and copper up. US futures were up, while the US Dollar Index was down.

Portfolio Pulse from Akanksha Bakshi

August 22, 2023 | 10:08 am

LSEA

Landsea Homes Corporation (NASDAQ:LSEA) has announced the pricing of a secondary offering by its stockholder, Green Investment Alpha Limited. The offering includes 4,207,574 shares of the company's common stock at a price of $9.75 per share. The stockholder has also granted the underwriters a 30-day option to purchase up to 631,136 additional shares. The offering is expected to close on August 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:05 am

PNW

Mizuho analyst Anthony Crowdell has upgraded Pinnacle West Capital (NYSE:PNW) from Neutral to Buy and raised the price target from $78 to $85.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 9:52 am