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SPY

Richmond Fed President Thomas Barkin stated that the U.S. Federal Reserve is making significant progress in controlling inflation, with the economy remaining robust. He highlighted that the six-month core Personal Consumption Expenditures (PCE) inflation rate is now just below the Fed's 2% target.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 1:29 pm

ICCM

A new study has found that IceCure Medical's ProSense system, which is used in cryoablation procedures to destroy tumors, may also enhance the immune response against cancer by boosting CD8+ T cell response. This supports previous studies and suggests that ProSense could offer additional anti-cancer benefits beyond just tumor destruction.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 1:09 pm

AMP

Ameriprise Financial (NYSE:AMP) received mixed ratings from 4 analysts in the past three months, with an updated average 12-month price target of $402.5, an 11.03% increase from the previous target. The company has a strong presence in asset and wealth management with $1.3 trillion in assets under management. Despite positive revenue growth, its net margin and ROA are below industry standards, while its ROE is impressive. The company's debt-to-equity ratio is higher than the industry average, indicating financial risk.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 1:00 pm

PBF

Analysts have mixed views on PBF Energy (NYSE:PBF), with recent ratings ranging from bullish to indifferent. The average 12-month price target is $54.75, down from $59.67. Analysts from Mizuho and UBS have adjusted their price targets, while Piper Sandler raised theirs. PBF Energy is an independent petroleum refiner with operations in the U.S. Despite a strong ROE and ROA, the company faces challenges with a negative revenue trend and a net margin below industry averages.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 1:00 pm

SNV

Synovus Financial Corp (NYSE:SNV) has been the subject of diverse analyst opinions over the past three months, with 8 analysts offering ratings that range from bullish to indifferent. The average 12-month price target for SNV has increased by 11.77% to $37.88, with a high estimate of $46.00 and a low of $31.00. Recent analyst actions include both raised and lowered price targets and ratings. Synovus provides a range of banking services and has four main segments, with Wholesale Banking being the largest. The company's market capitalization is below the industry average, and it has experienced a revenue decline of -11.28% as of September 30, 2023. Additionally, Synovus has a net margin of 16.93%, an ROE of 2.12%, an ROA of 0.15%, and a debt-to-equity ratio of 0.68, all of which are below industry standards.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 1:00 pm

BKNG

RYAAY

Ryanair Holdings PLC (NASDAQ: RYAAY) stock is trading lower after the company reported its December data, which included a 9% increase in guest count but a 1 percentage point decrease in load factor year-over-year. The company also announced that its flights were removed from several OTA websites, including Booking Holdings Inc. (NASDAQ: BKNG) platforms, due to regulatory pressures. This removal is expected to reduce short-term load factors by 1-2% in December and January and weaken yields. Ryanair plans to lower fares to mitigate the impact and does not anticipate a material effect on its FY24 traffic or profit after tax (PAT) guidance. RYAAY shares dropped 3.16% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 03, 2024 | 12:39 pm

AGFY

Agrify Corporation reported a significant decline in revenue for Q3 FY23, posting $3.1 million compared to $7 million in Q3 FY22. The company also reported a loss per share (EPS) of $(1.27).

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:37 pm

SLS

SELLAS Life Sciences Group, Inc. has provided updates on its corporate activities and outlined key milestones for 2024. These include interim analysis of the Phase 3 REGAL study of Galinpepimut-S in Acute Myeloid Leukemia (AML) patients expected in Q1 2024, topline data from a Phase 2a study of SLS009 in relapsed/refractory AML patients also expected in Q1 2024, and topline data from a Phase 1b/2 study in relapsed/refractory Peripheral T-cell Lymphoma patients expected in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:35 pm

ABVC

ABVC BioPharma and its subsidiary have received a $460 million milestone payment from AiBtl BioPharma as part of global licensing fees. This significant financial inflow could impact ABVC's short-term financial position and potentially its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:26 pm

AEXAF

EADSY

Atos SE has received non-binding interest in its Big Data & Security (BDS) business, with Airbus SE making an indicative offer of €1.5 billion-€1.8 billion for the entire unit. The potential acquisition would enhance Airbus's defense and security capabilities with advanced cybersecurity, computing, and AI. Atos is entering a due diligence phase with Airbus and continues exclusive negotiations with EPEI for the sale of Tech Foundations. Atos may sell additional assets to reduce debt and realign its business.

Portfolio Pulse from Shivani Kumaresan

January 03, 2024 | 12:24 pm