Streetbeat News

Equity Actions

CDLX

Cardlytics shares are trading lower after the company announced an Equity Distribution Agreement, allowing it to issue and sell up to $50 million worth of shares from time to time.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 3:28 pm

ELTX

Elicio Therapeutics announced a $6 million private placement financing to purchase up to 1,032,702 shares at $5.81 per pre-funded warrant, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 3:20 pm

NRXP

NRx Pharmaceuticals announced plans to distribute shares of HOPE Therapeutics and royalty rights on Ketamine sales to its existing shareholders, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 3:16 pm

FCX

Significant bearish options activity was detected in Freeport-McMoRan (NYSE:FCX), with a mix of puts and calls indicating a bearish sentiment among big-money traders. The activity suggests a price target range of $33.0 to $55.0 for FCX over the next three months. The company's stock is currently up by 0.83%, trading at $44.98, with a high trading volume and a potential overbought condition indicated by the current RSI values. The next earnings report is expected in 32 days.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 3:15 pm

GMED

Analyst ratings for Globus Medical (NYSE:GMED) show a diverse range of opinions, with recent updates indicating a generally positive outlook. Over the past quarter, 6 analysts have provided ratings, with the latest 12-month price targets suggesting an average increase of 6.83% to $63.83. Recent analyst actions include upgrades and maintenance of buy and hold ratings, reflecting changes in market dynamics and company performance. Globus Medical, a medical device company, has shown significant revenue growth of 124.6% as of December 31, 2023, but faces challenges in net margin, ROE, and ROA, indicating potential areas for improvement in profitability and asset management.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 3:01 pm

CIFR

Eight analysts have recently shared their views on Cipher Mining (NASDAQ:CIFR), with ratings ranging from bullish to bearish. The average 12-month price target is now $5.06, down from $6.00, indicating a 15.67% decrease. Cipher Mining has shown remarkable financial performance, with a revenue growth rate of 1329.67% as of December 31, 2023, a net margin of 25.88%, and an ROE of 2.69%. The company's debt-to-equity ratio is 0.04, reflecting prudent financial management.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 3:00 pm

PD

In the last three months, PagerDuty (NYSE:PD) received mixed analyst ratings, shifting from indifferent to bullish. The average 12-month price target for PD increased to $27.25, up 2.17% from $26.67. Analyst actions included rating changes and price target adjustments, reflecting updated market conditions and company performance. PagerDuty's financials show a 15.41% revenue growth, a net margin of -13.91%, and an ROE of -6.95%, with a debt-to-equity ratio of 2.73.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 3:00 pm

WKSP

Worksport shares are trading lower following the announcement of a $2.8 million registered direct offering and concurrent private placement.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 2:53 pm

NOK

Nokia Corporation has initiated the first phase of its €300M share buyback program, as announced on January 25, 2024. The buyback, starting no earlier than March 20, 2024, and concluding by December 18, 2024, aims to optimize capital structure by reducing capital through the cancellation of the repurchased shares. Funded by the reserve for invested unrestricted equity, the program is authorized to repurchase up to 200 million shares, about 4% of total shares, excluding the U.S. market. The repurchases will be managed by a third-party broker to ensure independence and compliance with EU Market Abuse Regulation.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 2:33 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for March 18th, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula. It offers detailed support and resistance levels for each asset, advising traders to monitor these stocks for potential breakouts or reversals. The memo also highlights the importance of staying alert to market changes to optimize trading gains. Additionally, it mentions the upcoming NAHB Housing Market Index and Treasury bill auction results, with a note on the anticipated FOMC rate decision.

Portfolio Pulse from RIPS

March 18, 2024 | 2:31 pm