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Equity Actions

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

BABA

Deep-pocketed investors have shown a bearish sentiment towards Alibaba Group Holding (NYSE:BABA), with a notable shift in options trading activity. Benzinga's tracking revealed 20 extraordinary options activities, with a bearish majority of 60%. The options trading suggests a targeted price range of $65.0 to $80.0 for BABA over the last 3 months. Today's trading showed an average open interest of 10261.2 for Alibaba's options, with a total volume of 5,457.00. Alibaba, the world's largest online and mobile commerce company, saw its stock price slightly up by 0.01% at $73.43.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 2:16 pm

FSR

Fisker Inc (NYSE:FSR) shares dropped 8.4% to $0.16 after announcing a financing commitment of up to $150 million from an existing investor, subject to conditions including the filing of its 2023 Form 10-K. The company is also in talks with a major automaker for EV collaboration in the US and plans to halt production for six weeks to balance inventory. Fisker disclosed these updates in a Form 8-K filed with the SEC.

Portfolio Pulse from Henry Khederian

March 18, 2024 | 2:09 pm

CHRO

Chromocell Therapeutics Corp. (NYSE:CHRO), a leader in non-opioid pain treatment development, has officially appointed Frank Knuettel as CEO, removing his interim status since July 2023. Knuettel, who also serves as CFO, has been recognized for his goal-oriented leadership and strategic vision in advancing the company's clinical and pre-clinical programs.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 2:01 pm

VTR

Analysts have diverse opinions on Ventas (NYSE:VTR), with recent evaluations showing a shift towards a more bullish stance. The average 12-month price target for VTR has increased to $53.0, reflecting a 4.95% rise from the previous target. Analysts from firms like Evercore ISI Group, Wells Fargo, Deutsche Bank, B of A Securities, and Mizuho have updated their ratings and price targets, indicating a positive outlook on the company's performance. Ventas, with a diversified healthcare portfolio, has shown a revenue growth of 10.74% as of December 31, 2023, but faces challenges in net margin, ROE, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 2:00 pm

DRVN

Driven Brands Hldgs (NASDAQ:DRVN) has received mixed analyst ratings over the past quarter, with a shift towards a more bullish stance in the last 30 days. The average 12-month price target is $18.00, marking a 13.59% decline from the previous target. Analysts from firms including Canaccord Genuity, RBC Capital, Piper Sandler, JP Morgan, and Morgan Stanley have adjusted their ratings and price targets, reflecting various market conditions and company performance. Driven Brands, a North American automotive services company, shows a positive revenue trend but faces challenges in market capitalization, net margin, ROE, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 2:00 pm

SMCI

Supermicro's stock price is on the rise following its inclusion in the S&P 500 Index, reflecting a positive market response.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 1:18 pm

COHR

Coherent's (NYSE:COHR) short interest has increased by 9.95% since the last report, with 5.02 million shares sold short, representing 4.42% of its float. This indicates a bearish market sentiment towards COHR, although it's higher than its peer group average of 3.34% short interest. The article suggests that an increase in short interest can sometimes be bullish, as it may lead to a short squeeze.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 1:15 pm