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XXII

22nd Century Group Inc (NASDAQ:XXII) stock surged 45% to $2.15 after announcing a new contract manufacturing agreement for conventional cigarette products, expected to increase carton production volumes by over 20% and start generating revenue in Q2 2024. The deal is seen as a significant step towards expanding the company's contract manufacturing business in North Carolina and advancing its VLN® franchise, with aims for revenue scaling, margin improvement, and breakeven operations by Q1 2025.

Portfolio Pulse from Henry Khederian

April 05, 2024 | 3:59 pm

FOXA

Fox Corp (NASDAQ:FOXA) shares have risen over 8% in the past month, buoyed by the momentum of the U.S. presidential election campaigns. Seaport Research Partners suggests 2024 presidential election ad spending could set a new record. Analyst David Joyce of Seaport upgraded Fox's rating from Neutral to Buy, maintaining a $37 price target. Political ad spending is projected to reach $9 billion this year, potentially boosting Fox's ad revenue significantly in the coming quarters. The company's strong performance in sports broadcasting and a healthy balance sheet are also highlighted as positive factors.

Portfolio Pulse from Priya Nigam

April 05, 2024 | 3:46 pm

PARA

Skydance Media, RedBird Capital, and KKR are in exclusive talks with Paramount Global for a significant stake, potentially leading to a merger with Skydance's studio. The deal, still under negotiation, could see Skydance and partners owning around 45% to just over 50% of Paramount Global. The transaction aims to transform Paramount into a more future-focused media company, leveraging Oracle's technology. Paramount Global's financial struggles include a 1.7% revenue decline in 2023 and a downgrade to junk status by S&P Global Ratings. Other potential buyers like Apollo Global Management and Warner Bros. Discovery have shown interest in Paramount Global.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 3:12 pm

MPLX

MPLX (NYSE:MPLX) received mixed ratings from 4 analysts, with recent updates showing a shift towards more bullish perspectives. The average 12-month price target is $45.0, indicating a 4.05% increase from the previous target. Analysts from Barclays, UBS, Raymond James, and RBC Capital have raised their price targets, reflecting optimism about MPLX's market performance. MPLX, a partnership with significant pipeline and processing assets, has shown strong financial health with a notable revenue growth rate of 6.96%, a net margin of 41.53%, and an ROE of 16.99%.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 3:00 pm

GH

Analyst ratings for Guardant Health (NASDAQ:GH) show a mix of bullish and somewhat bullish outlooks, with no changes in the last 30 days. The average 12-month price target is now $38.8, down from $47.20, indicating a 17.8% decrease. Analysts from Piper Sandler, JP Morgan, Canaccord Genuity, and Goldman Sachs have lowered their price targets. Guardant Health, a leader in liquid-based cancer tests, has shown a revenue growth rate of 22.19% as of December 31, 2023, but struggles with profitability and debt management.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 3:00 pm

PFG

Principal Financial Group (NASDAQ:PFG) was analyzed by 5 analysts, showing a consensus towards a neutral stance with 4 indifferent and 1 somewhat bearish ratings. The average 12-month price target for PFG has been raised to $81.6, up 4.62% from $78.00, indicating a positive outlook. Analysts from firms including Piper Sandler and Morgan Stanley adjusted their price targets and ratings, reflecting recent market conditions and company performance. Despite this, PFG faces challenges with a -14.6% revenue decline, a net margin of -32.4%, and below-average ROE and ROA, suggesting difficulties in profitability and asset utilization.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 3:00 pm

DIS

Disney (NYSE:DIS) is set to begin its password-sharing crackdown in June, aiming to increase subscriber engagement and achieve profitability in its streaming business by the fiscal year's end. The policy, initially affecting new Disney Plus subscribers in January and extended to existing members in March, will see a global rollout in September. Disney's CFO confirmed that subscribers suspected of password sharing would need to sign up for their own subscriptions this summer. Additionally, Disney's recent merger of the Disney Plus and Hulu apps is part of its strategy to enhance user experience and reduce churn.

Portfolio Pulse from Rounak Jain

April 05, 2024 | 2:58 pm

USGDF

Copper's role in the global economy is evolving due to its critical role in the energy transition from fossil fuels to renewables. Eric Saderholm of American Pacific Mining Corp. (USGDF) highlights copper's decoupling from other industrial metals like aluminum and zinc, driven by an anticipated acute supply shortage. This shortage, exacerbated by the demand for electrification, is expected to lead to a deficit of 1.3 million metric tons by 2027, with a 20% shortfall projected by 2031 despite efforts in mining and recycling. By 2045, global demand could double, making copper a unique market with its own investment narrative.

Portfolio Pulse from Matt Whittaker

April 05, 2024 | 2:39 pm

CIVI

Civitas Resources (NYSE:CIVI) has received mixed analyst ratings over the past quarter, with a recent shift towards more bullish sentiments. The average 12-month price target for CIVI has been raised to $95.67, indicating a positive outlook. Analysts from firms like Mizuho, Piper Sandler, Truist Securities, and Keybanc have adjusted their ratings and price targets, reflecting dynamic market conditions and Civitas Resources's performance. The company, engaged in oil and gas exploration in the Rocky Mountain region, has shown impressive revenue growth of 38.38% as of December 31, 2023, but faces challenges in profitability and debt management.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 2:01 pm

ZG

12 analysts have recently reviewed Zillow Gr (NASDAQ:ZG), showing a mix of bullish to bearish sentiments. The average 12-month price target is $64.17, indicating a 20.42% increase from the previous target. Analysts' actions range from maintaining to raising ratings, with price targets adjusted accordingly. Zillow Gr's financial performance shows positive revenue growth and effective equity capital utilization but faces challenges in net margin and profitability.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 2:01 pm