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FTK

Flotek Industries projects its FY24 adjusted gross profit margin to be between 18%-22% and expects its adjusted EBITDA to range from $10M to $16M.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:19 pm

ANET

Arista Networks' Board of Directors has approved an additional $1.2 billion stock repurchase program, signaling confidence in the company's financial health and future prospects. This move is likely to be viewed positively by investors as it often indicates a belief by the company's management that its stock is undervalued.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:16 pm

MYE

Myers Industries has filed for a mixed shelf offering of up to $400 million, according to a recent S-3 filing. This move allows the company to potentially sell a mix of securities, such as stocks, warrants, or debt, over time.

Portfolio Pulse from Charles Gross

May 07, 2024 | 9:11 pm

AZPN

EMR

Aspen Technology, Inc. (NASDAQ:AZPN) announced the appointment of David Baker as Senior Vice President, Chief Financial Officer, effective June 3, 2024. Baker, with over 27 years at Emerson Electric Co. (NYSE:EMR), brings extensive financial leadership experience. His role at Emerson involved leading financial planning and analysis and spearheading a cost reset plan for the Automation Solutions business, which achieved record orders, sales, and EBITA in 2022. AspenTech's CEO, Antonio Pietri, highlighted Baker's strategic and leadership skills as crucial for driving corporate strategy and shareholder value. Baker's appointment aligns with AspenTech's focus on digital solutions and innovation for asset-intensive companies during the energy transition.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:08 pm

ODD

ODDITY Tech has updated its FY24 financial outlook, raising EPS estimates from $1.49-$1.54 to $1.57-$1.62 and revenue forecasts from $620M-$630M to $626M-$635M. The company anticipates 23%-25% year-over-year revenue growth, a gross margin of 71.0%, and adjusted EBITDA between $139M-$143M. These adjustments reflect accelerated investments in growth initiatives, expected to impact adjusted EBITDA margin negatively in the latter half of 2024.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:07 pm

MAX

MediaAlpha has announced the launch of a secondary offering involving 6 million shares by its selling stockholders. This move could potentially impact the stock's market dynamics in the short term.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:05 pm

CGC

Canopy Growth Corp has filed for an offering of up to 1.1 million shares, which will be sold by existing securityholders. This move could potentially dilute current shareholders' equity and impact the stock's price.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:05 pm

MITT

AG Mortgage IT (NYSE:MITT) received mixed analyst ratings with a spectrum from bullish to indifferent, based on 5 recent analyses. The average 12-month price target is set at $7.3, slightly up from the previous $7.25. Analysts from Keefe, Bruyette & Woods and JonesTrading, among others, have adjusted their ratings and price targets, reflecting a nuanced view of the company's prospects. AG Mortgage IT, a real estate investment trust, shows strong financial indicators such as a 95.79% revenue growth rate, a net margin of 65.99%, and an ROE of 5.2%, despite a high debt-to-equity ratio of 18.26.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 9:00 pm

IRBT

iRobot Corp. (NASDAQ:IRBT) has appointed Gary Cohen as its new CEO, effective immediately. Cohen brings over 25 years of executive leadership and experience in turning around companies. He aims to lead iRobot towards profitability following its recent operational restructuring. Cohen's background includes significant roles at Gillette, Timex, Energizer, and Qualitor Automotive, where he has successfully driven growth and operational efficiencies. His appointment is part of iRobot's strategy to re-orient its business towards innovation, product and commercial strategies, and operational excellence.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:51 pm

TWLO

Twilio Inc (NYSE:TWLO) reported Q1 earnings with a revenue increase of 4% year-over-year to $1.05 billion, surpassing estimates. EPS was 80 cents, beating the 60 cents forecast. The company announced a $1 billion buyback in February and added $2 billion in March, with $1.5 billion already repurchased. Twilio expects Q2 revenue between $1.05 billion and $1.06 billion and adjusted EPS of 64 to 68 cents. Full-year 2024 revenue growth is projected at 5% to 10%. Shares fell 5.98% after hours to $59.58.

Portfolio Pulse from Adam Eckert

May 07, 2024 | 8:39 pm