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Equity Actions

FIVE

Five Below (NASDAQ:FIVE) has been analyzed by 16 analysts, showing a mix of bullish to bearish sentiments. Recent adjustments in ratings and price targets reflect a cautious outlook, with the average 12-month price target now at $214.19, down 4.59% from the previous $224.50. The company's financials indicate strong performance, with significant revenue growth, high net margin, and excellent ROE and ROA, positioning it well above industry averages.

Portfolio Pulse from Benzinga Insights

April 03, 2024 | 12:00 pm

ABIO

ARCA biopharma and Oruka Therapeutics have announced a merger agreement, aiming to create a company focused on advancing Oruka's novel biologics for chronic skin diseases. The deal, expected to close in Q3 of 2024, will support the development of ORKA-001 and ORKA-002 into clinical trials by 2025, with a pre-closing private financing of approximately $275 million to fund operations through 2027.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:32 am

EDR

TKO

Endeavor Group Holdings, Inc. (NYSE:EDR) has agreed to be acquired by Silver Lake in a deal valuing the company at $13 billion, offering a significant premium to shareholders. The acquisition price is $27.50 per share, a 55% premium over the unaffected share price. TKO Group Holdings, Inc. (NYSE:TKO), majority-owned by Endeavor, will remain public. The deal, expected to close by Q1 2025, marks the largest private equity public-to-private investment in the media sector in over a decade.

Portfolio Pulse from Nabaparna Bhattacharya

April 03, 2024 | 11:26 am

BABA

CGRO

PGJ

Alibaba Group Holding Ltd (NYSE:BABA) has significantly increased its share buy-back program, purchasing $4.8 billion in shares last quarter, marking its largest buy-back effort since 2021. The company also announced a collaboration with Space Epoch to deliver packages globally within an hour using a reusable rocket, XZY-1. This ambitious project aims to enhance Alibaba's logistics capabilities. Additionally, Alibaba's logistics arm, Cainiao, is expanding its 'five-day delivery' service internationally and boosting employee bonuses. Despite these efforts, BABA shares were down 0.95% in premarket trading. Investors can also gain exposure to Alibaba through Invesco Golden Dragon China ETF (NASDAQ:PGJ) and Tidal Trust II CoreValues Alpha Greater China Growth ETF (NYSE:CGRO).

Portfolio Pulse from Anusuya Lahiri

April 03, 2024 | 11:08 am

LSPD

Lightspeed announced a reduction of 10% in its workforce to cut operating expenses and initiated a $140M share buyback program to enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:05 am

SIG

Signet Jewelers has amended the terms of its Series A Convertible Preference Shares, leading to an immediate reduction in its diluted share count by approximately 4.1 million shares, or 7.6%. The company plans to settle this transaction with the $1.4 billion in cash it has on hand at the end of Fiscal 2024. Furthermore, Signet's revised non-GAAP diluted EPS range includes plans to allocate up to $1.1 billion towards retiring outstanding debt, retiring Preferred Shares, and repurchasing common shares during Fiscal 2025.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:04 am

GEO

The GEO Group (NYSE:GEO) announced a proposal to issue $1.2 billion in senior notes to refinance approximately $1.5 billion of existing indebtedness. The offering includes $700 million of senior secured notes due 2029 and $500 million of senior unsecured notes due 2031. The proceeds, along with a new $400 million Term Loan B and cash on hand, will be used for refinancing existing debts, including various senior notes and term loans, and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:02 am

SIG

Signet Jewelers has raised its Fiscal Year 2025 non-GAAP EPS forecast to $9.90-$11.52, up from the previous estimate of $9.08-$10.48, surpassing the estimated $9.72. This adjustment follows a Preferred Shares repurchase transaction and an amendment to the Preferred Shares agreement.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:00 am

PHGE

BiomX announced its 2023 cash balance, short-term deposits, and restricted cash totaling $15.9M. Additionally, a concurrent $50M financing is expected to extend the company's cash runway into 2025.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 10:37 am

MERC

WFG

West Fraser Timber and Mercer have agreed to dissolve their 50/50 joint venture in Cariboo Pulp and Paper, with West Fraser continuing as the sole owner/operator. No termination fees are involved. Mercer will retain some finished product inventory and expects to recognize a non-cash impairment in Q1 due to the dissolution.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 9:02 pm