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Equity Actions

MAT

Activist investor Barington Capital has acquired a stake in Mattel (NASDAQ:MAT) and is pushing for significant organizational changes to boost the company's underperforming stock. Barington's proposals include exploring strategic alternatives for Fisher-Price and American Girl, addressing stock-based compensation, and initiating a $2 billion share buyback plan. The investor believes these actions could potentially double Mattel's share price in three years. Mattel is reviewing Barington's proposals and has been exploring ways to leverage its intellectual property, including film projects.

Portfolio Pulse from Vandana Singh

February 02, 2024 | 6:02 pm

ROL

Four analysts have recently updated their ratings on Rollins (NYSE:ROL), showing a mix of bullish and indifferent sentiments. The average 12-month price target for ROL has been raised to $48.25, up from $45.00, indicating a positive outlook on the company's performance. Rollins, a global leader in pest-control services, has shown strong financials with a revenue growth rate of 15.17%, a net margin of 15.2%, and an ROE of 10.45%. The company's market capitalization and financial metrics suggest a robust market presence and efficient management.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 6:00 pm

GPI

Group 1 Automotive (NYSE:GPI) has seen a 3.02% increase in short interest, with 2.11 million shares sold short, representing 23.16% of its float. This indicates a bearish market sentiment, although it's higher than its peer group average of 12.10%. The high short interest could potentially be bullish, as covering could drive the price up.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:45 pm

INBS

Intelligent Bio Solutions Inc. (NASDAQ:INBS) shares surged by 104.15% to $4.90 due to an expected significant revenue increase. The company anticipates a 337% revenue growth for the six months ending Dec. 31, 2023, and a 114% increase for the second fiscal quarter. This growth is attributed to rising product sales, market expansion, and increased cartridge and reader sales. Additionally, a 1-for-12 reverse stock split was implemented to boost the per-share trading price.

Portfolio Pulse from Nabaparna Bhattacharya

February 02, 2024 | 5:36 pm

AAL

CAT

CPRT

HTZ

SYM

UBER

VRT

Today's whale activity in the Industrials sector highlighted unusual options trading for several companies, including bearish, bullish, and neutral sentiments across various expiration dates and strike prices. Notable trades were observed in CAT, BE, UBER, AAL, CPRT, SYM, BA, HTZ, VRT, and DE, with significant total trade prices and volumes indicating potential market movements.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:35 pm

AMZN

META

QQQ

SPY

USO

The latest jobs report, showing stronger-than-expected employment growth, has dampened hopes for a Fed rate cut, potentially upsetting stock market bulls. However, blowout earnings from Amazon (AMZN) and Meta Platforms (META), including META's initiation of a dividend and a $50B buyback, have bolstered their market cap by $275B, overshadowing concerns from the jobs report. Early trade money flows are positive for AMZN, META, Microsoft (MSFT), and NVIDIA (NVDA), neutral for Alphabet (GOOG), and negative for Apple (AAPL) and Tesla (TSLA). The S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) saw extremely positive early money flows turn negative post-jobs report. Oil is down on ceasefire deal prospects in the Middle East, impacting the United States Oil ETF (USO). Bitcoin (BTC) rises with tech stock sentiment.

Portfolio Pulse from The Arora Report

February 02, 2024 | 5:32 pm

GRI

GRI Bio's stock is trading lower following the announcement of a $5.5 million public offering.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 5:26 pm

CING

Cingulate's stock price has decreased following the announcement of a $7.5 million public offering.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 5:25 pm

LFSWF

Lifeist Wellness Inc. (OTC:LFSWF) is divesting its cannabis business, CannMart Group, to 1463663 B.C. Ltd. for CA$5 million ($3.72 million) to focus on nutraceuticals. The deal includes cash, a vendor takeback loan, and share purchase warrants in Tierra Corp. This strategic shift aims to leverage the growing nutraceutical market, forecasted to reach $118.7 billion by 2028, while retaining the option to re-enter the cannabis space.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 5:15 pm

ANF

Abercrombie & Fitch (NYSE:ANF) has seen significant options trading activity, with a bearish sentiment prevailing among big-money investors. Benzinga's options scanner revealed 11 unusual trades, with a split sentiment of 45% bullish and 54% bearish. The trades suggest a price target range of $60.0 to $115.0 for ANF over the next three months. The company, a specialty retailer, is currently trading at $106.38, down by -0.19%, and may be overbought according to its RSI values. Analyst ratings from Telsey Advisory Group and UBS have set target prices at $105 and $98, respectively.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:00 pm