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AREN

The Arena Group (NYSE:AREN) announced a workforce reduction of over 100 employees as part of a strategic move to transform its business model. The company is dealing with substantial debt and has missed payments recently. These cost-cutting measures are being taken to streamline operations. Concurrently, The Arena Group is negotiating with Bridge Media Networks, LLC, a subsidiary of Simplify Inventions, LLC, for a transaction that includes a significant investment, expected to close in early 2024. Jason Frankl of FTI Consulting has been appointed as Chief Business Transformation Officer to oversee the transition and focus on financial stability and growth.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:31 pm

UPST

Four financial analysts have recently reviewed Upstart Holdings (NASDAQ:UPST), with a consensus leaning towards a bearish outlook. Over the past three months, there have been three 'Somewhat Bearish' and one 'Indifferent' ratings, with no 'Bullish' or 'Somewhat Bullish' opinions. The average 12-month price target for UPST is now $21.5, down from $27.33, with individual targets ranging from $10.00 to $27.00. Upstart Holdings, a provider of AI-enabled credit services, has seen a 14.42% decline in revenue growth and struggles with profitability and asset utilization, as indicated by its net margin of -29.96%, ROE of -6.3%, and ROA of -2.14%. The company's market capitalization is below the industry average, and it maintains a debt-to-equity ratio of 1.71.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:01 pm

CYTK

Cytokinetics, Incorporated (NASDAQ:CYTK) is set to present new data from the FOREST-HCM CMR Sub-study on the effect of Aficamten on patients with Obstructive Hypertrophic Cardiomyopathy at CMR 2024. The presentation by Dr. Ahmad Masri will take place on January 25, 2024, during the 'Rapid Fire – Large Clinical Trials and Registries' session in London.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:01 pm

V

Visa (NYSE:V) received mixed reviews from 9 analysts in the last quarter, with an average 12-month price target of $280.33, reflecting a 3.17% increase from the previous target. Analysts' actions included raising, maintaining, and lowering ratings and price targets. Visa's financial performance shows a revenue growth rate of 10.56%, a net margin of 54.37%, an ROE of 12.05%, an ROA of 5.21%, and a debt-to-equity ratio of 0.53.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:00 pm

ANET

Arista Networks (NYSE:ANET) received mixed analyst ratings with an average 12-month price target of $243.3, a 15.13% increase from the previous target. Analysts from Keybanc, Melius Research, Morgan Stanley, Piper Sandler, Goldman Sachs, Needham, and JMP Securities have raised their price targets, indicating a positive outlook. Arista Networks, a provider of networking equipment, has shown strong financial performance with significant revenue growth, high net margin, and excellent ROE and ROA, while maintaining low debt.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:00 pm

META

Mark Zuckerberg, CEO of Meta Platforms, announced the consolidation of the company's two AI research groups, FAIR and GenAI, into a single unit. This move is aimed at enhancing the synergy between the teams and accelerating AI innovation within the company.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 5:55 pm

BMY

LLY

NOVO

PFE

Drugmakers have raised prices for popular diabetes treatments Ozempic and Mounjaro, used off-label for weight loss, in 2024. Novo Nordisk's Ozempic increased by 3.5% to nearly $970, and Eli Lilly's Mounjaro by 4.5% to around $1,070. The increases are above the 3.4% consumer price inflation rate of December. The industry justifies price hikes with rising R&D costs, but critics argue for policies ensuring fair pricing. Other drugs, like Eliquis by Bristol-Myers Squibb and Pfizer, also saw a 6% price increase to $594. Price hikes may be moderated due to political pressure and penalties for exceeding inflation rates.

Portfolio Pulse from Neil Dennis

January 18, 2024 | 5:48 pm

FIS

Fidelity National Info (NYSE:FIS) has been analyzed by 4 analysts in the last three months, with mixed opinions ranging from bullish to bearish. The average 12-month price target is $66.5, with a high of $73.00 and a low of $55.00, reflecting a slight increase from the previous target of $65.50. Analysts from Mizuho, RBC Capital, Truist Securities, and Raymond James have adjusted their ratings and price targets. FIS's financial overview shows a market cap below industry average, a revenue growth rate of 3.06%, a net margin of -18.04%, an ROE of -2.26%, an ROA of -0.84%, and a debt-to-equity ratio of 0.96.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 5:00 pm

CSGP

10 analysts have recently updated their ratings on CoStar Group (NASDAQ:CSGP), with a mix of bullish and bearish sentiments. The average 12-month price target is now $90.0, down from $94.12, with a high estimate of $105.00 and a low of $74.00. Analysts from firms including JMP Securities, Goldman Sachs, Needham, BMO Capital, Citigroup, JP Morgan, and Truist Securities have made adjustments to their price targets and ratings. CoStar Group, a leading provider of commercial real estate data, has shown strong financial performance with a revenue growth rate of 12.16%, a net margin of 14.5%, and an ROE of 1.27%.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 5:00 pm

BIRK

Birkenstock Holding Plc (NYSE:BIRK) reported Q4 earnings with adjusted EPS of 14 cents, surpassing estimates by 75%, and sales of $407.67 million, exceeding estimates by 34.41%. The company provided FY 2024 guidance with expected revenue of $1.89 to $1.91 billion but anticipates adjusted EBITDA margin headwinds. Telsey Advisory Group maintained an Outperform rating and a $56 price target. Despite positive earnings, BIRK shares traded lower by 9.2% post-earnings.

Portfolio Pulse from Erica Kollmann

January 18, 2024 | 4:51 pm