Streetbeat News

Equity Actions

ADM

Archer-Daniels-Midland (ADM) shares are trading higher following the announcement of a $1 billion accelerated share repurchase agreement.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:45 pm

LEN

Lennar Corporation (NYSE:LEN) is anticipated to report an increase in Q1 earnings to $2.20 per share from $2.06 the previous year, with projected revenue of $7.39 billion. The company recently increased its dividend and announced a $5 billion repurchase authorization. Shares rose 1.1% to $165.97. Analyst ratings vary, with price targets ranging from $130 to $165 and ratings from Neutral to Overweight.

Portfolio Pulse from Avi Kapoor

March 13, 2024 | 2:38 pm

GS

SPY

Goldman Sachs Asset Management's Co-Head of Real Estate indicates the U.S. commercial property market is 'bottoming out' and plans to increase investments this year. However, due to 'over-levered situations' in the U.S. real estate sector, a V-shaped market recovery is not anticipated.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:08 pm

ATEC

Alphatec Holdings (NASDAQ:ATEC) has received varying analyst ratings over the last quarter, with a recent shift towards bullish sentiment. The average 12-month price target has been raised to $19.00, indicating a potential upside. The company, specializing in spinal surgery technology, has shown significant revenue growth but struggles with profitability and high debt levels. Analysts' ratings and price target adjustments reflect changing market conditions and company performance.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 2:04 pm

MANH

Analyst ratings for Manhattan Associates (NASDAQ:MANH) show mixed sentiments, with recent updates indicating a positive outlook. The average 12-month price target is $242.0, reflecting an 11.39% increase from the previous target. Analysts from Citigroup, Rosenblatt, Raymond James, and Truist Securities have adjusted their ratings and price targets, suggesting optimism about the company's future performance. Manhattan Associates, a provider of supply chain and omnichannel software, has shown strong financial indicators such as a 20.27% revenue growth and impressive ROE and ROA, despite a below-average net margin.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 2:00 pm

TVTX

Travere Therapeutics (NASDAQ:TVTX) has been analyzed by 6 analysts, showing a mix of bullish to bearish sentiments. Recent ratings indicate a shift towards a more positive outlook, with an average 12-month price target of $13.33, up from $12.20. The company, focusing on rare kidney, liver, and metabolic diseases, shows a positive revenue trend with a 53.58% growth rate as of December 31, 2023, but faces challenges with a high debt-to-equity ratio of 2.02 and below-average ROE and ROA.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 2:00 pm

GXAI

VJET

WSM

U.S. stocks traded mixed with the Nasdaq Composite down and the Dow up. Williams-Sonoma reported better-than-expected earnings and announced a new $1 billion stock repurchase and dividend increase. Gaxos.ai surged after acquiring AI technology rights, while voxeljet announced a voluntary Nasdaq delisting. Energy shares led gains, while information technology shares lagged.

Portfolio Pulse from Avi Kapoor

March 13, 2024 | 1:49 pm

AVGO

Broadcom (NASDAQ:AVGO) has seen unusual options activity, with a bearish sentiment from big-money traders despite a split overall sentiment (30% bullish, 69% bearish). Notable trades include puts and calls with a focus on a price band between $760.0 and $1500.0. The company, a major player in the semiconductor and software industries, has a current stock price of $1280.62, down by -0.87%. Analysts have mixed views, with target prices ranging from $1450 to $1650, reflecting a cautious but generally positive outlook.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 1:46 pm

UAVS

AgEagle Aerial Systems Inc. (NYSE:UAVS), a leading drone solutions provider, announced a shareholder letter from Chairman Grant Begley, highlighting the company's evolution, product offerings, and strategic accomplishments. Begley emphasized AgEagle's transition from a local agricultural drone provider to a global leader in drone technology with applications across various sectors. The letter mentioned the introduction of eBee VISION for defense and security, FAA certification, and the Defense Innovation Unit's endorsement. Recent achievements include leadership team expansions, sales to UT-Battelle and ADS Inc., and recognition as a top AI company in agriculture. Financially, AgEagle addressed its micro cap status, sales stagnation, and high expenses in 2023, but anticipates growth with the eBee VISION. A 20-to-1 reverse stock split was approved to attract more investors and support business growth.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:43 pm

PHUN

HC Wainwright & Co. analyst Scott Buck maintains a Buy rating on Phunware (NASDAQ:PHUN) and adjusts the price target to $12 from $1, accounting for a 1:50 reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:40 pm