Streetbeat News

Equity Actions

STOK

Stoke Therapeutics announced the pricing of an upsized $125 million public offering of 5,555,557 common shares at $13.50 per share, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 5:00 pm

EH

EHang Holdings experienced a significant options trading activity, with a sweep of 565 May 17 $30 calls at $0.7 each, when the stock was trading at $20.98. This indicates a bullish sentiment among investors for EH's stock in the short term.

Portfolio Pulse from Charles Gross

March 28, 2024 | 4:50 pm

GILD

XLO

Xilio Therapeutics Inc (XLO) stock doubled after announcing an exclusive license agreement with Gilead Sciences Inc (GILD) for the development and commercialization of Xilio's Phase 1 tumor-activated IL-12 program, XTX301. Xilio will receive $43.5 million in upfront payments and is eligible for up to $604.0 million in additional payments, plus royalties. Gilead's 2024 EPS is expected to decrease by $0.03-$0.04 due to this transaction. Xilio also raised $11.3 million through a private placement.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 4:39 pm

NKLA

Nikola Corp (NASDAQ:NKLA) is potentially experiencing a short squeeze, indicated by a 20.6% short interest and significant Reddit discussions. Technical analysis shows a bullish trend despite some bearish signals, suggesting volatility. The stock is trading above key moving averages, with positive MACD and high RSI indicating overbought conditions. High volumes of call options purchases and increased trading volume support the potential for a short squeeze.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 4:26 pm

GRWG

GrowGeneration Corp. (NASDAQ:GRWG) has initiated a $6M share repurchase program, signaling confidence in the company's valuation and future. Despite a revenue drop of 18.8% in 2023, the company saw improved gross margins from a strategic shift towards proprietary product sales. For 2024, GrowGen projects revenue between $205M-$215M and an adjusted EBITDA ranging from a $2M loss to a $3M profit, focusing on brand enhancement and entering the home gardening market. Shares rose 0.98% in after-hours trading.

Portfolio Pulse from Jelena Martinovic

March 28, 2024 | 4:20 pm

UPS

UPS (NYSE:UPS) outlined an ambitious growth strategy at its 2024 Investor and Analyst Day, targeting $108 to $114 billion in revenue by 2026. The plan includes a focus on high-margin segments, technological investments, and operational efficiency improvements. Despite expecting a challenging first half of 2024, UPS aims for a consolidated operating margin of 13% by 2026. The company also highlighted its commitment to sustainability, diversity, and employee satisfaction.

Portfolio Pulse from Tornado

March 28, 2024 | 4:01 pm

MOH

Recent analyst evaluations of Molina Healthcare (NYSE:MOH) show diverse opinions, with the latest average 12-month price target being $433.67, an 8.69% increase from the previous target. Analysts' ratings range from 'Underperform' to 'Overweight', reflecting varied expectations for the company's performance. Molina Healthcare's financial overview indicates a strong market position with notable revenue growth, net margin, ROE, and ROA, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 4:01 pm

BLDR

Builders FirstSource (NYSE:BLDR) received diverse analyst ratings over the past quarter, with a shift towards more neutral positions in the last 30 days. The average 12-month price target for BLDR is now $215.43, marking a 12.79% increase from the previous target of $191.00. Analysts from firms like DA Davidson, Barclays, and RBC Capital have updated their ratings and price targets, reflecting changes in market conditions and company performance. Despite a negative revenue trend and challenges in maintaining profitability, BLDR's strong ROE and ROA indicate effective capital utilization. The company's market capitalization and debt management are also highlighted as strengths.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 4:00 pm

ZION

Zions Bancorp (NASDAQ:ZION) has seen varied analyst ratings over the last three months, with a recent shift towards more positive evaluations. The average 12-month price target has increased to $46.00, reflecting a 6.98% rise from the previous target. Analyst actions include both upgrades and downgrades, with price targets ranging from $40.00 to $48.00. Zions Bancorp, a regional U.S. bank, faces challenges in market capitalization, revenue growth, and net margin, but excels in ROE while maintaining a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 4:00 pm

GM

At the BofA Securities 2024 Automotive Summit, General Motors CFO Paul Jacobson discussed GM's progress in EV production and capital allocation. GM is on track to meet its 2024 EV production goal, with the Cadillac LYRIQ setting monthly sales records. The company aims for EV profitability by 2025 and has initiated a $10 billion share repurchase program. Jacobson also highlighted a $2 billion cost reduction program and the strategic review of Cruise, GM's autonomous vehicle technology.

Portfolio Pulse from Tornado

March 28, 2024 | 3:58 pm