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GXO

GXO Logistics, Inc. (NYSE:GXO) has made a cash offer to acquire UK's Wincanton plc, outbidding CEVA Logistics with an offer representing a 26% premium over CEVA's final bid. The offer is also a 104% premium over Wincanton's share price before the offer period. GXO expects the acquisition to be immediately accretive to earnings per share and anticipates £45 million in annual net run-rate synergies by the end of the third year post-integration. GXO has secured irrevocable commitments for 34% of Wincanton's shares, with the deal enhancing GXO's technological capabilities and global reach.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 12:45 pm

ABUS

Arbutus Biopharma (NASDAQ:ABUS) reported Q4 earnings with EPS of $(0.12), meeting analyst estimates but with sales of $2.15M, missing the $4.79M estimate. This represents a 14.29% improvement in EPS and a 65.65% decrease in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:36 pm

KPTI

Karyopharm Therapeutics reported Q4 2023 earnings with a GAAP EPS of $(0.36), missing the $(0.30) estimate, and sales of $33.75M, missing the $35.40M estimate. This represents a slight 0.50% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:31 pm

HGV

Hilton Grand Vacations (HGV) reported Q4 adjusted EPS of $1.01, surpassing the $0.95 estimate, while sales of $1.02B slightly missed the $1.02B estimate, marking a 2.72% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:31 pm

DFH

Dream Finders Homes (NASDAQ:DFH) reported Q4 earnings of $1.00 per share, surpassing the $0.71 estimate, marking a 40.85% beat and a 28.21% increase from last year. Sales reached $1.14B, exceeding the $898.68M estimate by 26.63% and showing a 3.55% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:26 pm

CIO

ONL

OPI

The article highlights the top 3 oversold real estate stocks, which are Office Properties Income Trust (OPI), Orion Office REIT Inc. (ONL), and City Office REIT, Inc. (CIO), based on their RSI values indicating potential undervaluation. OPI reported positive quarterly sales but saw a significant price drop. ONL faced a decline after posting worse-than-expected financial results and a disappointing FY24 Core FFO guidance. CIO also experienced a decrease in stock price following downbeat quarterly sales, despite positive leasing activity momentum.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 12:26 pm

DIA

QQQ

SPY

On February 28th, U.S. stock markets closed lower, with the Dow Jones, S&P 500, and Nasdaq experiencing declines amid anticipation of an inflation update influencing Federal Reserve rate cut predictions. Economic data revealed a slowdown in U.S. annual growth rate and a drop in wholesale inventories. Market expectations for the Fed's rate cut shifted from March to June due to persistent inflation and a strong economy. Asian and European markets mostly saw gains, while commodities like crude oil, gold, and natural gas showed mixed performance. U.S. futures and the forex market also indicated varied movements.

Portfolio Pulse from Akanksha Bakshi

February 29, 2024 | 12:18 pm

M

TD Cowen analyst Adam Maeder has downgraded Macy's (NYSE:M) from Outperform to Market Perform and reduced the price target from $23 to $20.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:18 pm

MARA

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares dropped in premarket trading despite reporting a significant year-over-year revenue increase of 452% to $156.77 million and reversing to a profit of 66 cents per share. The decline was attributed to an adjusted loss of 2 cents per share, missing analyst expectations of a 3-cent per share profit. The company also reported a 172% increase in Bitcoin production. The drop occurred amidst a broader Bitcoin rally, with Bitcoin reaching a new intraday high of $63,432.97.

Portfolio Pulse from Shanthi Rexaline

February 29, 2024 | 12:17 pm

GDRX

GoodRx Holdings' shares surged following the announcement of its Q4 financial results and the issuance of Q1 revenue guidance that exceeded analysts' expectations.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:17 pm