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Equity Actions

NNBR

NN, Inc. (NASDAQ:NNBR) announced a balance sheet optimization plan involving the sale and leaseback of three facilities for $16.8 million, aimed at repaying part of its term loan to reduce cash interest expenses. Additionally, NN reduced its corporate headquarters' footprint to lower operating costs. These steps are part of a 2024 plan to decrease capital costs and prepare for future refinancing. The transactions will not affect NN's EBITDA, employees, or customers.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 9:31 pm

AAPL

JPM

MSFT

NFLX

NVDA

NYCB

The U.S. stock market reached record highs, influenced by Federal Reserve Chair Jerome Powell's hints at potential rate cuts. Nvidia's market cap hit $1 trillion rapidly, highlighting its growth in AI and semiconductors. New York Community Bancorp secured a $1-billion equity investment, causing dilution for current shareholders. Microsoft faced a security breach by Russian hackers. JPMorgan's AI tool significantly improved banking efficiency. Apple invested $1 billion in filmmaking to boost its streaming service, and Netflix ventured into live sports with a high-profile boxing match.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 9:19 pm

BTTR

Better Choice Company announced a 1-for-44 reverse stock split, effective immediately. This action is typically taken to increase the market price of a company's shares, potentially to meet exchange listing requirements or to attract a broader range of investors. The immediate effect on the stock might be volatility as the market adjusts to the new price level.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 9:08 pm

GDX

GLD

IAU

SGOL

Global physically backed gold ETFs have experienced outflows for nine consecutive months, totaling $5.7 billion year-to-date, despite gold prices reaching all-time highs. The outflows are primarily from North America, with factors such as a strong labor market, higher inflation, and a potential Federal Reserve rate cut contributing to the trend. However, gold prices continue to rise due to speculative betting and physical demand, particularly from China. Central bank demand remains strong, supporting gold prices. Gold ETFs mentioned include SPDR Gold Trust (GLD), iShares Gold Trust (IAU), Abrdn Physical Gold Shares ETF (SGOL), and VanEck Gold Miners (GDX).

Portfolio Pulse from Stjepan Kalinic

March 08, 2024 | 8:31 pm

AZO

Deep-pocketed investors have shown a divided sentiment towards AutoZone (NYSE:AZO), with a bearish tilt observed through Benzinga's options scanner. The scanner highlighted 16 unusual options activities, with a price focus between $2600 and $3400. The analysis of these options shows a mix of bullish and bearish positions, with a higher total trade price for calls. AutoZone, a leading retailer of aftermarket automotive parts, has its stock currently positioned at $3124.01, with professional analysts offering mixed ratings and price targets ranging from $3025 to $3400.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 8:30 pm

EYPT

EyePoint Pharmaceuticals (NASDAQ:EYPT) has received diverse analyst ratings over the past quarter, with a shift towards more bullish sentiments in the last 30 days. The average 12-month price target for EYPT has increased by 12.64% to $36.8, with a high estimate of $44.00 and a low estimate of $33.00. Financial analysis reveals a positive revenue trend with a growth rate of 51.84% as of September 30, 2023, but challenges in net margin, ROE, and ROA. The company's debt-to-equity ratio is below industry average, indicating a conservative financial approach.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 8:00 pm

SEDG

SolarEdge Technologies (NYSE:SEDG) has seen a 10.59% increase in its short percent of float since the last report, with 8.60 million shares sold short, representing 15.25% of its available trading shares. This indicates a bearish market sentiment towards SEDG, although it doesn't necessarily predict a near-term price fall. Compared to its peers, SEDG has a higher short interest percentage, suggesting more bearish sentiment than average within its peer group.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 7:15 pm

GTLB

GitLab's (NYSE:GTLB) short interest has decreased by 14.54% since the last report, with 4.32 million shares sold short, representing 4.35% of its float. This decrease in short interest could indicate a more bullish sentiment towards GTLB among investors. Compared to its peers, GTLB has a slightly higher short interest percentage of 4.01%, suggesting a mixed market sentiment.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 7:15 pm

BC

Seven analysts have recently updated their ratings on Brunswick (NYSE:BC), showing a shift towards a more bullish outlook with an average 12-month price target of $105.71, up from $95.50. The updates include raised price targets and ratings, reflecting positive sentiment towards Brunswick's market position despite a -13.95% decline in revenue growth and a high debt-to-equity ratio. Brunswick is recognized for its innovation in the marine recreation industry, with a strong market capitalization and financial health indicators like net margin, ROE, and ROA outperforming industry averages.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 7:01 pm

DOCU

In the last three months, 13 analysts have published diverse ratings on DocuSign (NASDAQ:DOCU), with recent updates showing a mix of opinions. The average 12-month price target has been raised to $64.62, indicating a 21.65% increase from the previous target. Analysts' actions, including maintaining, raising, and lowering ratings, reflect their current views on the company's performance and market conditions. DocuSign's financial health is analyzed, highlighting its market capitalization, revenue growth, net margin, ROE, ROA, and debt management. The company's Agreement Cloud offers a suite for automating agreements and providing e-signatures.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 7:01 pm