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Equity Actions

MQ

Marqeta has announced that its board has authorized a new share repurchase program, allowing the company to buy back up to $200 million of its Class A common stock.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:37 pm

IGTA

Inception Growth Acquisition Limited (IGTA) has received approval to transfer its securities from the Nasdaq Global Market to the Nasdaq Capital Market, effective May 8, 2024. Its common stock, units, warrants, and rights will continue to trade under their current symbols without any trading disruption.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:36 pm

UPST

Upstart Holdings Inc (NASDAQ:UPST) reported Q1 earnings with revenue of $128 million, surpassing estimates and achieving a 24% year-over-year increase but a 9% sequential decrease. The company beat EPS estimates with an adjusted loss of 31 cents per share. Loan originations rose 13% year-over-year to 119,380, totaling $1.1 billion. Upstart anticipates sequential growth in H2 and positive EBITDA by year-end. Q2 revenue is expected to be around $125 million, below estimates, with a projected adjusted EBITDA loss of $25 million.

Portfolio Pulse from Adam Eckert

May 07, 2024 | 8:27 pm

GO

Grocery Outlet (GO) updates its fiscal 2024 guidance, maintaining its net sales forecast at $4.30 billion to $4.35 billion, slightly adjusting its comparable store sales growth to 3.5%-4.5%, and revising its gross margin and adjusted EBITDA downwards. The company also slightly increased its net new store openings forecast.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:27 pm

PCRX

Pacira BioSciences has announced a $150M share repurchase program, signaling confidence in its own stock and potentially providing a boost to its share price in the short term.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:02 pm

AAPL

BRK

NU

SNOW

At the Berkshire Hathaway annual shareholder meeting, Warren Buffett expressed concerns about AI's potential dangers, likening it to nuclear weapons. Despite this, Berkshire Hathaway's portfolio includes strategic investments in AI-focused companies such as Apple Inc, Snowflake Inc, and Nu Holdings Ltd. These companies are actively leveraging AI in various capacities, from Apple's development of AI chips for data centers to Snowflake's AI model rivaling industry giants and Nubank's use of AI to enhance customer service.

Portfolio Pulse from Surbhi Jain

May 07, 2024 | 8:02 pm

FAST

Six analysts have recently updated their ratings on Fastenal (NASDAQ:FAST), showing a mix of neutral and positive outlooks. The average 12-month price target is now $72.00, up from $71.17, with a high estimate of $85.00 and a low of $64.00. Analyst actions include both upgrades and downgrades, reflecting varied perspectives on the company's performance and market conditions. Fastenal's financials indicate strong profitability and efficient asset and equity management, with a notable market capitalization and revenue growth, although slightly lagging behind industry peers.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 8:01 pm

AAPL

BRK

BofA Securities analyst Wamsi Mohan reiterated a Buy rating on Apple Inc (AAPL) with a price target of $230, highlighting Apple's largest share buyback authorization of $110 billion and a 4% dividend increase. Warren Buffett's Berkshire Hathaway reduced its stake in Apple, citing tax reasons but expects it to remain its largest holding. Apple's gross margin and services momentum are seen positively, despite a decline in operating margins in China. Apple faces EU and DoJ legal challenges but plans to defend itself vigorously. Apple's manufacturing purchase commitments and inventory declined, but it returned $27.3 billion to shareholders in Q2.

Portfolio Pulse from Anusuya Lahiri

May 07, 2024 | 8:01 pm

NGVT

Ingevity (NYSE:NGVT) received mixed analyst ratings in the last quarter, with a shift towards a more cautious stance in the last 30 days. The average 12-month price target for NGVT has been raised to $56.5, reflecting a 16.49% increase from the previous target. Analysts from Loop Capital, Oppenheimer, Jefferies, and Wells Fargo have all raised their price targets, indicating a positive outlook on the stock despite the company facing challenges such as a -13.37% decline in revenue growth and a high debt-to-equity ratio of 2.74.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 8:00 pm

ELDN

Eledon Pharmaceuticals Inc (NASDAQ:ELDN) reported positive safety data from an early organ transplant study of tegoprubart for type 1 diabetes patients and kidney transplant patients. The company also announced a $50 million private placement. HC Wainwright raised its price target for ELDN from $13 to $16, reiterating a Buy rating due to increased confidence in tegoprubart's advancement.

Portfolio Pulse from Vandana Singh

May 07, 2024 | 7:40 pm