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RDDT

Reddit, Inc (NYSE:RDDT) is set to begin trading on the NYSE under the ticker RDDT on March 21, with an IPO price range of $31.00 to $34.00 per share. The company emphasizes its mission to foster community, belonging, and empowerment worldwide.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 3:00 pm

ALAB

Astera Labs has successfully launched its IPO, pricing 19.8 million shares at $36 each. The shares are currently indicating a trading price of $52.08, showcasing a strong market debut.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:57 pm

BTDR

COIN

HIVE

MARA

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:54 pm

FINV

QFIN

Qifu Technology Inc. (NASDAQ:QFIN) reported a 13% year-on-year revenue increase and a 21.5% net profit rise in Q4, outperforming its annual figures and projections. The company announced a significant share repurchase plan of up to $350 million, exceeding its previous $132 million buyback. This move, along with a dividend payout of 20%-30% of its GAAP-based net profit, has led to a more than 20% increase in its stock price post-announcement. In contrast, FinVolution Group (NYSE:FINV) reported modest growth, highlighting the competitive and economic challenges in China. Qifu's strategy focuses on shareholder returns amid limited growth opportunities, with its P/E ratio currently at 5, compared to FinVolution's 4 and LendingClub's (NYSE:LC) 21.

Portfolio Pulse from The Bamboo Works

March 20, 2024 | 2:54 pm

ETAO

GIS

LFCR

MNTS

SMR

U.S. stocks edged lower ahead of the Federal Reserve's interest rate decision, with the Dow, NASDAQ, and S&P 500 all seeing slight declines. General Mills reported better-than-expected Q4 financial results, with a slight sales decline but beating analyst estimates. Utilities shares rose, while energy shares fell. Several companies saw significant stock movements, including ETAO International, XTL Biopharmaceuticals, and TruGolf Holdings experiencing sharp increases, whereas Lifecore Biomedical, NuScale Power Corporation, and Momentus Inc. saw notable declines.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 2:53 pm

UNH

UnitedHealth Group (NYSE:UNH) is grappling with the aftermath of a ransomware attack on its technology arm, Change Healthcare, which has severely impacted the U.S. healthcare system, especially community health centers. Despite disbursing over $2 billion in advance payments to aid affected healthcare providers, many centers, particularly those serving rural and vulnerable populations, continue to face operational and financial challenges. The attack, which began on February 20, has led to significant disruptions, including a backlog of claims and increased operational costs for these centers. UNH shares dropped slightly by 0.24% to $492.16.

Portfolio Pulse from Vandana Singh

March 20, 2024 | 2:53 pm

DWAC

A significant options trade was executed for Digital World Acquisition Corp (DWAC), involving a sweep of 332 March 28th $90 call options at $1.9, compared to an open interest of 4583, with DWAC's stock price at $40.1995.

Portfolio Pulse from Charles Gross

March 20, 2024 | 2:51 pm

ECNS

WFH

Kingsoft Cloud Holdings Ltd (NASDAQ:KC) reported Q4 fiscal 2023 revenue of $242.6 million, slightly above consensus, with a 19.2% Y/Y decrease. Adjusted EPS was $(0.05), better than expected. The stock surged 18.80% to $3.82. Revenue decline was attributed to scaling down CDN services and phasing out loss-making clients. Adjusted gross profit rose significantly due to strategic adjustments and cost control. The company is focusing on AI cloud computing, contributing to 8% of public cloud revenues. Investors can also gain exposure through Direxion Work From Home ETF (NYSE:WFH) and iShares MSCI China Small-Cap ETF (NYSE:ECNS).

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 2:50 pm

MRVL

Marvell Tech (NASDAQ:MRVL) has seen significant unusual options activity, with a bullish sentiment from financial giants. Analysis of options history revealed 11 unusual trades, with a majority being bullish. The options trading suggests a price target range of $42.5 to $100.0. Recent analyst ratings have been positive, with an average target price of $91.6. The company's current market position shows a slight price decrease to $65.01, with a neutral RSI and an earnings announcement expected in 64 days.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 2:47 pm

BAK

Braskem's stock price increased following the announcement of their Q4 financial results on Tuesday.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:44 pm