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ZM

Zoom Video Communications, Inc. (NASDAQ:ZM) is set to release its fiscal fourth quarter earnings on Feb. 26, 2024, with analysts forecasting a slight decrease in earnings per share from $1.22 to $1.15, and a marginal revenue increase from $1.12 billion to $1.13 billion year-over-year. The company also cut about 150 jobs, less than 2% of its workforce. Ahead of the earnings call, analysts have revised their ratings and price targets for ZM, with a mix of downgrades, neutral stances, and a single upgrade.

Portfolio Pulse from Avi Kapoor

February 26, 2024 | 4:18 pm

MKTX

MarketAxess Holdings Inc. (NASDAQ:MKTX), a leading electronic trading platform for fixed-income securities, announced Ilene Fiszel Bieler as the new Chief Financial Officer, starting around May 22, 2024. She replaces Christopher Gerosa. Fiszel Bieler, with a rich background in financial services, including roles at State Street Global Markets and Barclays plc, is expected to contribute significantly to MarketAxess's growth.

Portfolio Pulse from Happy Mohamed

February 26, 2024 | 1:11 pm

C

Citigroup has appointed Viswas Raghavan as the head of banking, according to a memo from CEO Jane Fraser cited by Reuters.

Portfolio Pulse from Charles Gross

February 26, 2024 | 12:57 pm

MCRB

Seres Therapeutics has announced Marella Thorell as the new Executive Vice President and Chief Financial Officer, effective March 25, succeeding David Arkowitz upon his retirement.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 12:09 pm

ELAN

Elanco Animal Health is undergoing a restructuring that will affect around 420 employees. This move is expected to result in a charge of $50M-$55M to its 2024 reported results but will generate annual savings of $30M-$35M.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:32 am

ZION

Scott Anderson, the President and CEO of Zions Bank, a part of Zions Bancorporation, will retire from his managerial roles according to an SEC filing. He will transition to a non-executive chairman position.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 9:21 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares dropped 10.7% to $10.23 after UBS downgraded the stock from Buy to Sell and reduced its price target from $24 to $8. The downgrade follows mixed Q4 financial results and a 10% workforce reduction. Despite exceeding revenue expectations with $1.32 billion in Q4, Rivian reported a loss of $1.36 per share. The company produced 17,541 vehicles and delivered 13,972 in Q4, with annual figures at 57,232 produced and 50,122 delivered. Year to date, RIVN shares have fallen 40.73%, outperforming its historical average annual return of -51.56%. The stock's RSI of 9.26 suggests it is oversold.

Portfolio Pulse from Henry Khederian

February 23, 2024 | 8:35 pm

ATI

PLL

SXC

ZEUS

Analyst Gregory Lewis downgraded Piedmont Lithium (PLL) to Neutral post Q4 and FY 2023 results, showing revenue growth and operational improvements. ATI Inc. (ATI) appoints Kimberly A. Fields as new CEO, aiming for significant revenue and EBITDA growth by 2027. SunCoke Energy (SXC) announces CEO Michael G. Rippey's retirement, with Katherine T. Gates succeeding him. Olympic Steel (ZEUS) reports a profitable year despite industry challenges, increasing its quarterly dividend.

Portfolio Pulse from Austin DeNoce

February 23, 2024 | 8:12 pm

UHAL

U-Haul has acquired 4.46 acres of land in Urbandale, Iowa, for a new retail, moving, and self-storage facility, scheduled to open in 2026. The facility will feature over 700 indoor storage rooms, a warehouse for portable moving containers, and a range of services including truck rentals, towing equipment, and professional hitch installation. U-Haul plans to hire 10 local team members for the store, emphasizing its commitment to supporting the Urbandale community and veterans.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:53 pm

C

Conor Davis, a senior sales executive at Citigroup, Inc. (NYSE:C), is set to leave the company as part of CEO Jane Fraser's restructuring efforts aimed at reducing costs and improving stock performance. The restructuring includes plans to cut 5,000 jobs by the end of the first quarter, with a total goal of reducing 20,000 roles to save $2.5 billion in expenses. Davis' departure is part of the bank's efforts to streamline operations, focusing on managing sales and relationships with hedge funds and institutional clients.

Portfolio Pulse from Nabaparna Bhattacharya

February 23, 2024 | 5:49 pm