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CRH

MLM

CRH PLC, in partnership with the Barro Group, has proposed to acquire Adbri Ltd for A$3.20 per share, valuing Adbri at A$2.1 billion. CRH will buy the remaining 57% of Adbri's shares not owned by Barro. Adbri has granted CRH exclusive due diligence access and intends to recommend shareholders approve the transaction. The deal is subject to due diligence, binding documentation, shareholder and regulatory approvals. CRH recently agreed to buy Martin Marietta Materials Inc's South Texas cement business for $2.1 billion.

Portfolio Pulse from Lekha Gupta

December 18, 2023 | 11:30 am

EBF

Ennis (NYSE:EBF) reported Q3 earnings with an EPS of $0.38, missing the estimate of $0.42 by 9.52%. Revenue declined by $5.62 million compared to the same period last year. In the previous quarter, Ennis beat EPS estimates but the share price fell by 1.58% the following day.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 11:20 am

CVRN

NKLA

QQQ

SPY

The anticipated Santa Claus rally may be underwhelming this year due to the subpar performance of major tech stocks, the outperformance of small-caps, and rallies in unprofitable tech companies, heavily shorted stocks, companies with weak balance sheets, SPACs, and cryptocurrencies. The Invesco QQQ Trust (QQQ) and SPDR S&P 500 ETF Trust (SPY) saw modest gains, while Nikola Corp. (NKLA) and Carvana Co. (CVRN) surged despite fundamental challenges.

Portfolio Pulse from Shanthi Rexaline

December 18, 2023 | 11:18 am

AFRM

Morgan Stanley analyst James Faucette has downgraded Affirm Holdings (NASDAQ:AFRM) from Equal-Weight to Underweight, while also raising the price target from $15 to $20.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:18 am

TENB

Needham analyst Mike Cikos has reaffirmed a Buy rating on Tenable Holdings (NASDAQ:TENB) and increased the price target from $45 to $52.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:16 am

FREY

FREYR Battery has successfully received the necessary votes to approve all proposals at its Extraordinary General Meeting. The company anticipates completing the process to change its domicile from Luxembourg to the U.S. by the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:13 am

CMPO

JP Morgan analyst Reginald Smith has downgraded CompoSecure (NASDAQ:CMPO) from Overweight to Neutral and reduced the price target from $7 to $6.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:13 am

SCVL

Shoe Carnival, Inc. (NASDAQ:SCVL) has announced a new $50 million share repurchase program to commence on January 1, 2024, replacing the existing program set to expire on December 31, 2023. The company also declared a quarterly cash dividend of $0.12 per share, payable on January 22, 2024, to shareholders of record as of January 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:11 am

BFH

JP Morgan analyst Reginald Smith has downgraded Bread Finl Hldgs (NYSE:BFH) from Overweight to Neutral and reduced the price target from $42 to $36.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:11 am

EBF

Ennis, Inc. (NYSE:EBF) reported Q3 earnings of $0.38 per share, missing the consensus estimate of $0.42, a 13.64% decrease from last year's $0.44. Sales were $104.62M, surpassing the $102.40M estimate but marking a 5.10% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:10 am