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PLTR

Palantir Technologies, Inc. (NYSE:PLTR) stock dipped nearly 5% over the past five days following its Q1 earnings report, despite a 21% revenue increase year-over-year. Ark Invest purchased 1,353,667 shares of Palantir across four ETFs. Analysts have mixed ratings on PLTR, with an average 12-month price target of $24. HSBC and Citigroup raised their price targets post-earnings.

Portfolio Pulse from Erica Kollmann

May 09, 2024 | 3:52 pm

FUN

SIX

Cedar Fair, L.P. (NYSE:FUN) reported a 20% Y/Y increase in Q1 FY24 sales to $101.6 million, surpassing analyst expectations. Despite a slight net loss reduction to $(133) million, attendance rose by 27% Y/Y, driven by higher season pass sales and favorable weather. The company also announced a quarterly cash distribution of $0.30 per LP unit. Cedar Fair and Six Flags Entertainment Corp (NYSE:SIX) are progressing with their proposed merger, working with the DOJ. FUN shares rose 6.97% following the announcement.

Portfolio Pulse from Lekha Gupta

May 09, 2024 | 3:50 pm

SVCO

Silvaco Group's initial public offering (IPO) was launched with shares opening for trade at a price of $19 per share, based on an offering of 6 million shares. This marks the company's debut on the public market.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:45 pm

YTEN

Yield10 Bioscience has filed a Form RW with the SEC, indicating that its registration statement is not yet effective, and confirms that no securities have been sold according to the filing.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:44 pm

TEVA

Barclays analyst Balaji Prasad maintains an Overweight rating on Teva Pharmaceutical Industries (NYSE:TEVA) and raises the price target from $17 to $20.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:42 pm

FOUR

Shift4 Payments, Inc (NYSE:FOUR) reported a 29% year-on-year growth in fiscal Q1 2024 gross revenue to $707.4 million, missing analyst estimates of $755.6 million. Adjusted EPS was 54 cents, below the consensus of 62 cents. Payments-based revenue and subscription revenue saw significant increases. The company also saw a 50% increase in end-to-end payment volume and a 36% increase in adjusted EBITDA. Despite missing Q1 expectations, Shift4 reiterated its FY24 outlook, expecting significant growth in revenue and EBITDA. The company's stock rose 3.59% following the announcement. Analysts had previously anticipated Shift4 to benefit from a major settlement involving Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA).

Portfolio Pulse from Anusuya Lahiri

May 09, 2024 | 3:39 pm

GPATU

GP-Act III Acquisition Corp Units, symbolized as GPATU, have commenced trading. This event marks a significant milestone for the company as it becomes publicly available for investment.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:39 pm

EQIX

NOW

SRHR

SRVR

Equinix, Inc. (NASDAQ:EQIX) shares rose after reporting Q1 FY24 results with a 6% Y/Y revenue increase to $2.13 billion, slightly missing consensus. Adjusted EBITDA and FFO per share exceeded expectations. The company declared a quarterly dividend of $4.26, has 50 major projects underway, and sees AI as a growth catalyst. Equinix provided a lower FY24 revenue outlook than previously but remains optimistic. ServiceNow, Inc. (NYSE:NOW) expanded its strategic relationship with Equinix. Exposure to Equinix stock is also possible through Pacer Data & Infrastructure Real Estate ETF (NYSE:SRVR) and Elevation Series Trust SRH REIT Covered Call ETF (NYSE:SRHR). EQIX shares are up 11.6%.

Portfolio Pulse from Lekha Gupta

May 09, 2024 | 3:36 pm

PAL

Proficient Auto Logistics (PAL) has commenced trading with its IPO priced at $15 per share, offering 14.33 million shares to the public. This marks the company's debut on the stock market, potentially attracting investor interest in the automotive logistics sector.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:34 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) reported strong Q1 financial results, surpassing analysts' expectations with significant transaction revenue, particularly in cryptocurrency trading. Analysts from Piper Sandler, KeyBanc, Goldman Sachs, Needham, JPMorgan, Mizuho, and JMP Securities provided updates on their ratings and price targets, reflecting optimism about the company's performance and future prospects. Despite some caution regarding the sustainability of the current trading volumes and interest rates, the consensus views Robinhood's early Q2 indicators and April's record net deposits positively. Analysts are particularly encouraged by the platform's growth in crypto volumes, options activity, and overall user engagement.

Portfolio Pulse from Chris Katje

May 09, 2024 | 3:25 pm