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LUNA

Luna Innovations shares are trading lower following the announcement of the restatement of financial statements due to accounting errors in revenue recognition.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:44 pm

IIPR

Innovative Industrial Properties, Inc (NYSE:IIPR) announced a Q1 2024 dividend of $1.82 per share, following better-than-expected Q4 earnings. Piper Sandler raised the price target from $85 to $103. The company's dividend yield stands at 7.75%. To earn a monthly dividend income of $500, an investor would need to own approximately 824 shares, valued around $77,357.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 12:40 pm

LRHC

La Rosa has successfully regained compliance with Nasdaq's listing requirements, ensuring its continued listing on the exchange.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:33 pm

EFX

Equifax Inc. (NYSE:EFX) reported Q1 sales of $1.389 billion, missing estimates of $1.400 billion, and issued Q2 guidance below market expectations. Adjusted Q2 earnings are expected to be $1.65 to $1.75 per share, against estimates of $1.87 per share, with revenue projections of $1.41 to $1.43 billion, compared to expectations of $1.44 billion. Despite a challenging mortgage market, Equifax saw a 7% revenue increase and a strong performance in its non-mortgage business. Following the announcement, Equifax shares dropped 8.5% to $217.51. Analysts from Baird and JP Morgan adjusted their price targets on Equifax to $260 and $273, respectively.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 12:32 pm

RF

Regions Financial shares are trading lower following the announcement of mixed Q1 financial results, indicating a disparity between expected and actual financial performance.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:30 pm

GM

TSLA

Tesla's lead Cybertruck engineer, Wes Morrill, questioned the practicality of GM's 'CrabWalk' feature on social media, a feature that allows vehicles to move diagonally. Morrill revealed Tesla had explored a similar feature but found it lacked real-world use and was difficult to control. The discussion also touched on Tesla's own 'fart mode,' highlighting features with questionable utility. GM's CrabWalk, first introduced on the Hummer EV, is touted as enhancing off-roading capabilities. The 2024 Sierra EV Denali Edition 1, featuring CrabWalk, boasts a 440-mile range, slightly exceeding the Cybertruck's range. GMC's U.S. deliveries fell nearly 5% in Q1, despite selling 1,668 units of the Hummer EV.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 12:30 pm

AXP

IPAY

JRNY

American Express Co (AXP) reported a first-quarter revenue increase of 11% year-on-year to $15.80 billion, slightly above consensus estimates. The growth was driven by higher net interest income and increased Card Member spending. EPS was $3.33, surpassing the consensus of $2.95. The company also reiterated its FY24 revenue growth outlook of 9%-11%. Despite mixed analyst opinions regarding credit quality and growth, AXP's stock has gained 32% over the last 12 months. AXP's performance can impact related ETFs like IPAY and JRNY.

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 12:30 pm

EARN

Ellington Residential has announced a rebranding to Ellington Credit Company. This strategic move is aimed at reflecting the company's broader focus on credit investments. The rebranding includes a change in the company's ticker symbol from EARN to a new symbol that aligns with its new identity.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:23 pm

KBH

KB Home (NYSE:KBH) announced a $1 billion stock repurchase plan and a 25% increase in its quarterly dividend, from $0.20 to $0.25 per share. This move follows a prior authorization with $113.6 million remaining and is part of a strategy to return value to shareholders while maintaining growth. The company plans to repurchase $200-$400 million in shares in 2024, including $50 million already completed in Q1. The dividend increase results in an annualized rate of $1.00 per share, reflecting a 1.6% yield based on the April 17, 2024 closing price. KB Home's strong balance sheet, with $668.1 million in cash and equivalents as of February 29, 2024, supports these initiatives. KBH shares saw a 1.04% increase in premarket trading to $61.04.

Portfolio Pulse from Shivani Kumaresan

April 19, 2024 | 12:21 pm

ADAUSD

Crypto analyst Ali Martinez predicts a significant rebound for Cardano (ADA) based on its MVRV ratio dropping below -22%, a signal previously followed by a 75% price surge. Technical analysis also shows bullish signs. Cardano's CEO, Frederik Gregaard, hints at a new era in decentralized governance for the ecosystem. Despite a month-over-month decline of 23.4%, ADA's recent 24-hour performance shows a 4.5% increase. Large transaction volumes have risen, and a majority of ADA holders have retained their tokens for over a year.

Portfolio Pulse from Khyathi Dalal

April 19, 2024 | 12:18 pm