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HWM

Truist Securities analyst Michael Ciarmoli has upgraded Howmet Aerospace (NYSE:HWM) from Hold to Buy and increased the price target from $47 to $74.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 11:21 am

ACMR

Needham analyst Quinn Bolton has reaffirmed a Buy rating on ACM Research (NASDAQ:ACMR) and increased the price target from $18 to $24, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 11:16 am

LMT

Lockheed Martin Corporation (NYSE:LMT) and SpaceX are facing development challenges, causing NASA to delay its Artemis moon program to 2026. The first astronaut lunar landing in 50 years is now scheduled for September 2026, a year later than planned. The delays are due to issues with Orion's heat shield, spacecraft batteries, and electrical system. SpaceX still has to complete a list of tasks, including demonstrating the ability to dock and refuel with 'tanker' Starships in orbit. LMT shares are trading higher by 0.35% to $457.90 in premarket.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 11:12 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) saw its stock rise in Wednesday's premarket session after a decline in the previous session. The increase is attributed to positive index futures and the North American debut of Tesla's new Model 3 EV. The updated Model 3, with improved range and features, is now available in North America with prices starting at $38,990. Despite mixed reviews from its initial release in China and other regions, Tesla's Head of Investor Relations, Martin Viecha, praised the new model's enhancements. Tesla met its 1.8 million-unit delivery goal for 2023, and the impact of the new Model 3 on 2024 sales remains to be seen. In premarket trading, Tesla's stock increased by 0.53% to $236.20.

Portfolio Pulse from Shanthi Rexaline

January 10, 2024 | 11:05 am

LEN

Lennar Corp (NYSE:LEN) has increased its annual dividend from $1.50 to $2.00 per share, resulting in a quarterly dividend of $0.50 for both Class A and Class B stock, payable on February 7, 2024. Additionally, the Board authorized an expansion of the stock buyback program, allowing for an additional $5 billion in repurchases of Class A or B stock. The company's strong balance sheet and cash position have enabled these shareholder returns. In Q4 2023, Lennar repurchased 3 million shares for $337 million. As of November 30, 2023, Lennar had $6.3 billion in cash and equivalents.

Portfolio Pulse from Shivani Kumaresan

January 10, 2024 | 10:42 am

HPE

JNPR

Hewlett Packard Enterprise Co (HPE) has agreed to acquire Juniper Networks Inc (JNPR) for $40.00 per share in an all-cash deal valued at approximately $14 billion. The offer is a 32% premium over JNPR's stock price on January 8, 2024. The deal, expected to close between late 2024 and early 2025, is subject to regulatory and shareholder approvals. Post-acquisition, Juniper CEO Rami Rahim will head HPE's networking business. The acquisition is expected to be accretive to HPE's non-GAAP EPS and free cash flow in the first year, with $450 million in cost synergies within 36 months. HPE's shares fell by 8.92%, while JNPR's shares surged by 21.81% following the news.

Portfolio Pulse from Lekha Gupta

January 10, 2024 | 10:26 am

ETSY

Goldman Sachs analyst Alexandra Steiger has downgraded Etsy (NASDAQ:ETSY) from Buy to Neutral and reduced the price target from $84 to $80.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:25 am

FOXF

ISRG

MVST

PSMT

SGH

SONY

TGTX

TOST

PriceSmart, Inc. (NASDAQ:PSMT) reported Q1 earnings that exceeded expectations, with adjusted earnings of $1.24 per share against estimates of $1.09 per share, and sales of $1.17 billion versus $1.16 billion estimated. The stock rose 10% in pre-market trading. Other stocks showing pre-market gains include Microvast Holdings, Inc. (NASDAQ:MVST), SMART Global Holdings Inc. (NASDAQ:SGH), TG Therapeutics, Inc. (NASDAQ:TGTX), Intuitive Surgical, Inc. (NASDAQ:ISRG), Toast, Inc. (NYSE:TOST), Fox Factory Holding Corp. (NASDAQ:FOXF), and Sony Group Corporation (NYSE:SONY). SGH announced a $75 million share repurchase authorization and better-than-expected earnings. ISRG reported preliminary Q4 revenue of $1.93 billion, above the $1.87 billion market estimate.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 10:18 am

SNCY

Susquehanna analyst Christopher Stathoulopoulos has downgraded Sun Country Airlines (SNCY) from Positive to Neutral and set a price target of $15.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:16 am

ALK

Susquehanna analyst Christopher Danely downgraded Alaska Air Group (NYSE:ALK) from Positive to Neutral and set a price target of $40.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:12 am