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Equity Actions

TRS

TriMas Corporation announced the planned retirement of its Board Chairman, Samuel Valenti III, and has named Herbert Parker as the Chair Elect. This transition is part of the company's ongoing board leadership planning.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:33 pm

NDAQ

Nasdaq, Inc. (NDAQ) shares are trading lower in premarket following Borse Dubai's secondary offering of 26.956 million common shares at $59 per share. Borse Dubai also granted underwriters a 30-day option for up to 4.04 million additional shares. Nasdaq will not receive any proceeds from this offering. The offering is expected to close on March 22, 2024, with Borse Dubai projected to hold about 10.8% of Nasdaq's outstanding shares post-offering, or 10.1% if the underwriters' option is fully exercised. NDAQ shares are down 3.86% at $60.05 in premarket trading.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 1:16 pm

XAIR

Beyond Air has announced a registered direct offering of common stock and warrants, aiming to raise $16 million. This move could potentially dilute current shareholders but also provides the company with necessary capital for growth or operational needs.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:06 pm

NEWT

Recent analyst reviews of NewtekOne (NASDAQ:NEWT) show a mix of ratings, with a shift towards a more cautious outlook. The average 12-month price target has been lowered to $14.5, indicating a 10.77% decrease from the previous target of $16.25. Analysts from firms like Keefe, Bruyette & Woods, Piper Sandler, and B. Riley Securities have adjusted their price targets and ratings, reflecting changes in market conditions and NewtekOne's performance. Despite the market cap being below industry average, NewtekOne has shown significant revenue growth, a high net margin, and strong ROE and ROA, but concerns about its high debt-to-equity ratio persist.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 1:00 pm

ARMK

Aramark (NYSE:ARMK) received mixed analyst ratings over the past three months, with a recent shift towards a more bullish outlook. The average 12-month price target for Aramark has been raised to $33.5, indicating a 4.69% increase from the previous target. Analysts from firms including Truist Securities, Morgan Stanley, RBC Capital, and Goldman Sachs have adjusted their ratings and price targets, reflecting changes in market conditions and Aramark's performance. Despite positive revenue growth, Aramark faces challenges in profitability, efficiency, and debt management compared to industry benchmarks.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 1:00 pm

SMCI

Super Micro Computer Inc (NASDAQ:SMCI) announced the pricing of its public offering of 2 million shares at $875 each, aiming for total gross proceeds of $1.75 billion. The funds are intended for operational support, including inventory purchases, manufacturing capacity expansion, and increased R&D investments. The offering is expected to close around March 22. Despite a recent drop, SMCI stock has seen significant growth, up over 220% since the start of the year and over 700% in the past year. Wall Street analysts generally rate SMCI as a Buy.

Portfolio Pulse from Adam Eckert

March 20, 2024 | 12:52 pm

CIFR

IREN

RIOT

JPMorgan analyst Reginald L. Smith upgraded Riot Platforms Inc (NASDAQ:RIOT) to Overweight, predicting a 35% upside to a $15 price target by Dec. 2024. Smith also sees a 134% growth potential for Iris Energy Ltd. (NASDAQ:IREN), setting a price target of $10.50. Riot's hashrate growth and unique strengths, including industry-leading power contracts and liquidity, are key catalysts. Iris Energy's focus on renewable energy-powered data centers and exposure to AI and HPC opportunities are highlighted. Cipher Mining Inc (NASDAQ:CIFR) was mentioned with a Neutral rating but no price target.

Portfolio Pulse from Surbhi Jain

March 20, 2024 | 12:51 pm

JAGX

GEN has entered into an agreement to commercialize Jaguar Health's Crofelemer in Turkey and eight neighboring countries. Additionally, GEN will invest $2M in Jaguar Health's stock at a 75% premium to the market price. The agreement also includes the payment of double-digit royalties to Jaguar on all Crofelemer products sold in the licensed territory.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:42 pm

PIXY

ShiftPixy, Inc. has committed to financing terms for $100 million to initiate a human capital rollup strategy. This move is aimed at consolidating its position in the human capital management sector by potentially acquiring smaller companies or assets that complement its existing services.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:40 pm

CMG

PDD

TSHA

PDD Holdings reported Q4 adjusted earnings per ADS of $2.40, surpassing the $1.60 estimate, with sales of $12.52B beating the $11.01B estimate. Chipotle's board approved a 50-for-1 stock split. Taysha Gene Therapies shares surged after reporting a year-over-year increase in FY23 EPS and providing positive corporate and clinical updates.

Portfolio Pulse from ryanfaloona@benzinga.com

March 20, 2024 | 12:39 pm