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DIS

MAT

D.A. Davidson analyst Linda Bolton Weiser maintains a Buy rating on Mattel Inc (NASDAQ:MAT) with a $26.00 price target, highlighting the company's expansion into the wood toy segment and upcoming product launches. Mattel's entry into the $800 million wood toy market with Fisher-Price Wood is expected to be margin-accretive. The company also plans to launch Mini Barbie and has seen success with Hot Wheels. Mattel Television Studios is working on multiple series and specials, with toy sales expected to be boosted by Disney's (NYSE:DIS) Moana 2 and Frozen 3.

Portfolio Pulse from Shivani Kumaresan

March 08, 2024 | 6:04 pm

MNMD

MindMed (NASDAQ:MNMD) announced an underwritten offering and private placement expected to raise $175M, following positive 12-week clinical data on its LSD therapy for generalized anxiety. The offering involves 16,666,667 common shares at $6.00 each, with participation from new investors including Deep Track Capital and Commodore Capital. Oppenheimer Equity Research has given the stock an outperform rating, with a 12-18 month price target of $29.00, highlighting the company's systematic approach and promising data in the psychedelic field.

Portfolio Pulse from Lara Goldstein

March 08, 2024 | 6:01 pm

MIRA

Mira Pharmaceuticals Inc (NASDAQ:MIRA) announced the discovery of a new molecule, MIRA-55, initially mistaken for their drug candidate MIRA1a. MIRA-55, showing enhanced potency for treating anxiety and cognitive decline, has led to a provisional patent application. The company's stock surged 39.01% to $1.32 following the news.

Portfolio Pulse from Vandana Singh

March 08, 2024 | 6:00 pm

ETH-USD

On Thursday, 14,656.93 Ether (ETH) worth $58,121,774 was burned, permanently removing it from circulation. This follows the EIP-1159 upgrade to the Ethereum blockchain, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -19.02% yesterday.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 6:00 pm

AAPL

Epic Games announced its plans to proceed with the launch of the Epic Games Store and reintroduce Fortnite to iOS in Europe. This move comes after previous disputes with Apple (AAPL) regarding app store policies and revenue sharing.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 5:54 pm

FL

NKE

Foot Locker (NYSE:FL) shares plummeted nearly 30% following a holiday loss and a delay in achieving its profitability goal, as it aims to reduce reliance on Nike (NYSE:NKE). Despite a sales increase to $2.38 billion in Q4, Foot Locker reported a significant loss due to heavy promotions. The company also adjusted its fiscal year outlook and delayed its $9.5 billion annual sales target to 2028. Efforts to diversify away from Nike and enhance its omnichannel presence are ongoing but challenging.

Portfolio Pulse from Upwallstreet

March 08, 2024 | 5:37 pm

DXYN

Dixie Group, Inc. (NASDAQ:DXYN) shares rose after reporting a significant improvement in Q4 earnings per share from a loss last year, despite a decrease in quarterly revenue. The company attributes lower net sales to a slowdown in the floorcovering industry due to high interest rates affecting housing and remodeling markets. However, it claims to be gaining market share. Dixie Group plans to start nylon extrusion operations in Q1 2024 as part of cost improvement initiatives, aiming to reduce future raw material disruptions and lower costs. Shares are up 13% to $0.61.

Portfolio Pulse from Nabaparna Bhattacharya

March 08, 2024 | 5:30 pm

SGD

Safe and Green Development Corporation (NASDAQ:SGD) shares surged after announcing financing for the Norman Berry Expansion in Atlanta, Georgia. The project involves constructing a facility for elderly and assisted living, with further phases planned. CEO David Villarreal highlighted the acquisition of additional land expected to increase the project's value. SGD shares are up 241% at $2.25.

Portfolio Pulse from Erica Kollmann

March 08, 2024 | 5:22 pm

EQNR

NHYKF

Equinor ASA has initiated operations at its 531 MW Mendubim solar plant in Brazil, expected to boost its equity power production by 30% to over 1.4 TWh in 2024. The plant will generate 1.2 TWh annually, with 60% of the power sold under a 20-year USD-denominated PPA with Norsk Hydro ASA's Alunorte. The project, a joint venture with Scatec and Hydro Rein, aligns with Equinor's diversified energy strategy in Brazil. Despite a 20% Y/Y drop in Q4 FY23 revenue and a 49% fall in adjusted earnings due to lower gas prices, EQNR shares rose by 0.72% to $26.05.

Portfolio Pulse from Lekha Gupta

March 08, 2024 | 5:20 pm

BPTH

Bio-Path Holdings, Inc. (NASDAQ:BPTH) shares fell after reporting a Q4 EPS loss of $4.23, which was narrower than the expected $5.40 loss. The annual net loss improved to $33.63 per share from $38.12. R&D expenses rose to $11.6 million from $9.2 million. Cash reserves significantly decreased to $1.1 million from $10.4 million. The company completed the first dose cohort of its Phase 1 trial for BP1002 in treating certain cancers. Shares dropped 4.98% to $5.920.

Portfolio Pulse from Nabaparna Bhattacharya

March 08, 2024 | 5:17 pm