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Revenues

UMC

United Microelectronics Corporation (NYSE:UMC) reported a significant sales decline, with December sales dropping 18.94% Y/Y and full-year sales down 20.15%. December revenues also fell 9.6% from November. Despite this, UMC is continuing with its W2W 3D IC project and maintains a 2023 capex of $3.0 billion. UMC shares closed higher by 1.12% to $8.130 on Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

January 05, 2024 | 2:18 pm

NVO

A recent NIH-funded analysis revealed that patients treated with Semaglutide, a medication for obesity or type 2 diabetes, had a significantly lower risk of suicidal ideation, ranging from 49% to 73%, compared to those given other medications. This finding could have implications for the prescription practices for these conditions.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 2:06 pm

INST

Instructure Hldgs (NYSE:INST) received mixed analyst ratings with an average 12-month price target of $30.5, slightly down from the previous $30.67. Jefferies' Brent Thill raised the target to $30 from $25, Citigroup's Steven Enders and Raymond James' Brian Peterson both lowered their targets to $30 from $33 and $34 respectively, while Needham's Ryan MacDonald maintained a target of $32. The company has shown solid revenue growth and strong financial performance but trails behind its IT sector peers in growth rate.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:01 pm

BYD

Boyd Gaming (NYSE:BYD) has received mixed ratings from 8 analysts in the past three months, with an average 12-month price target of $73.00, down from $76.83. Recent actions include downgrades and maintaining of ratings, with price targets ranging from $66.00 to $84.00. Boyd Gaming operates gaming and entertainment properties across several U.S. states and has shown positive revenue growth, strong net margin, and ROE, with effective asset utilization and prudent debt management.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

IBM

IBM (NYSE:IBM) has received mixed analyst ratings over the past three months, with 7 analysts offering diverse opinions. The average 12-month price target is $152.43, with a high of $180.00 and a low of $130.00, marking a 3.73% decrease from the previous average target of $158.33. Analysts' actions include maintaining, raising, and lowering ratings and price targets. IBM's financials show a market cap above industry average, a revenue growth of 4.58%, a net margin of 11.55%, an ROE of 7.53%, but a lower-than-average ROA of 1.3% and a high debt-to-equity ratio of 2.54.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

PAYC

Paycom Software (NYSE:PAYC) has been rated by 15 analysts in the last three months, with a diverse range of perspectives. The average 12-month price target for PAYC has decreased by 37.44% to $222.6 from the previous $355.82. Analysts from firms including Jefferies, Piper Sandler, UBS, B of A Securities, Mizuho, Barclays, BMO Capital, Citigroup, Stifel, TD Cowen, and Deutsche Bank have adjusted their ratings and price targets, reflecting changes in market dynamics and company performance. Paycom, established in 1998, is a provider of payroll and HCM software. Financially, Paycom has shown strong revenue growth and net margin but a lower ROE compared to industry averages.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

BALY

Analysts have mixed views on Ballys (NYSE:BALY), with recent ratings ranging from bullish to bearish. Over the last quarter, there have been 2 bullish, 2 indifferent, and 1 somewhat bearish rating. In the past 30 days, one analyst has maintained an 'Underweight' rating with a $10.00 price target, while three others have lowered their price targets, with an average target now at $11.8, down from the previous $15.4. Ballys's financials show a revenue growth of 9.38% over 3 months but lag behind industry averages in net margin, ROE, and ROA, and have a high debt-to-equity ratio of 5.42.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

BOOT

Boot Barn Holdings (NYSE:BOOT) has been evaluated by 4 analysts over the last three months, with 3 bullish and 1 somewhat bullish ratings. The average 12-month price target is now $98.75, down from $118.00, with a high estimate of $108.00 and a low of $92.00. Analysts from UBS, B. Riley Securities, Piper Sandler, and Citigroup have provided recent evaluations, with two lowering their price targets. Boot Barn Holdings operates specialty retail stores and has shown a revenue growth of 6.52% as of September 30, 2023, a net margin of 7.39%, but an ROE below industry averages at 3.32%.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

MPW

Medical Properties Trust Inc (NYSE:MPW) stock plummeted approximately 15% after revealing plans to reduce exposure to Steward Health Care System, which has delayed rent payments. Steward owes about $50 million in unpaid rent, excluding $50 million deferred for Norwood Hospital. MPW is providing a $60 million bridge loan to Steward, secured by collateral and second liens on Steward's managed care business. MPW also agreed to defer unpaid rent and expects partial rent payments to resume in Q1 and Q2 2024. However, MPW anticipates a non-cash charge in Q4 2023 due to uncollectible rent receivables, which may total around $350 million. MPW's stock price dropped 20.8% to $3.96 in premarket trading.

Portfolio Pulse from Lekha Gupta

January 05, 2024 | 1:39 pm

SCYX

SCYNEXIS, Inc. announced the presentation of preclinical efficacy data on its antifungal candidate SCY-247 at the AAAM Conference. The study, funded by the NIH, showed SCY-247's in vivo efficacy and significant survival improvement when combined with liposomal amphotericin B. SCY-247 is a novel glucan synthase inhibitor with potential oral and IV formulations, and SCYNEXIS plans to begin clinical studies by year end. The company hopes for FDA QIDP and Fast Track designations for SCY-247.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:37 pm