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GVA

Granite Construction Inc (NYSE:GVA) has acquired Lehman-Roberts Company and Memphis Stone & Gravel Company, enhancing its presence in the Memphis metropolitan area. The acquisition includes strategic assets like asphalt plants and sand and gravel mines, along with significant material reserves. Following the acquisition, GVA raised its FY24 sales outlook from $3.6-$3.9 billion to $3.8-$4.0 billion, while maintaining its adjusted EBITDA margin outlook. The purchase was financed through a new term loan and existing funds. GVA's stock saw a slight decline of 0.72% to $47.10.

Portfolio Pulse from Lekha Gupta

December 05, 2023 | 6:09 pm

WU

Western Union Co (NYSE:WU) shares dropped about 5% over the past week. BMO Capital Markets analyst Rufus Hone initiated coverage with a Market Perform rating and a $12 price target, citing concerns over the company's ability to generate sustainable revenue growth in a competitive and slower growing remittance market. Hone suggests that it's too early to bank on a turnaround for Western Union, as the company may face macro headwinds and need additional investment to drive customer and transaction growth.

Portfolio Pulse from Priya Nigam

December 05, 2023 | 6:08 pm

BABA

FXI

NIO

YUMC

Moody's Investors Service downgraded its outlook on China's government credit ratings from stable to negative, citing concerns over fiscal stability and economic growth. This has led to a significant sell-off in Chinese stocks, with the iShares China Large-Cap ETF (FXI) dropping over 10% in the last 10 sessions. Major Chinese companies listed in the US, including Alibaba (BABA), Tencent (OTCPK: MPNGY), and Meituan, saw negative trading, with Yum China (YUMC) and NIO Inc. (NIO) experiencing the most notable moves.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 6:07 pm

DAKT

Daktronics, Inc. (NASDAQ:DAKT) shares fell over 10% due to weaker-than-expected quarterly results, with earnings of 5 cents per share versus the estimated 13 cents and sales of $199.37 million against the expected $213.70 million. Other stocks experienced significant movements in Tuesday's mid-day session, with notable gainers including Meiwu Technology Company Limited (WNW), Volato Group, Inc. (SOAR), and Clearmind Medicine Inc. (CMND), among others. Losers included Replimune Group, Inc. (REPL), iBio, Inc. (IBIO), and Designer Brands Inc. (DBI), which all saw substantial declines in their share prices.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 6:06 pm

FYBR

Frontier Communications Parent's stock is trading lower following a letter from JANA Partners urging the company's board to initiate a strategic review. JANA Partners believes that exploring strategic alternatives could enhance shareholder value and is pressing for immediate action.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 6:04 pm

H

Hyatt Hotels (NYSE:H) has received 6 analyst ratings in the last quarter, with 2 bullish, 3 somewhat bullish, and 1 indifferent. The average 12-month price target among these analysts is $134.17, with a high of $146.00 and a low of $115.00. This target has slightly decreased by 0.33% from the previous average of $134.62. Analyst ratings are based on information from company events, financial statements, and insider conversations, and they provide guidance on stock performance though they are subjective opinions.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:00 pm

CLF

Over the past 3 months, 5 analysts have provided their ratings on Cleveland-Cliffs (NYSE:CLF), with an average price target of $20.39, which is higher than the current price of $17.7525. The ratings include 3 bullish, 1 somewhat bullish, and 1 bearish. The current average price target has increased by 1.39% from the previous target of $20.11.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:00 pm

MA

Mastercard (NYSE:MA) has received 15 analyst ratings in the last quarter, with an average price target of $456.27, representing an upside from the current price of $407.08. The majority of analysts are bullish or somewhat bullish, with no bearish or somewhat bearish ratings. The current average price target has slightly decreased by 0.7% from the previous target of $459.50. Analyst ratings are based on information from company reports, financial statements, and insider conversations, and are intended to guide investors, though they are subjective opinions.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:00 pm

FLYW

Flywire (NASDAQ:FLYW) has received 12 analyst ratings in the last quarter, with an average price target of $35.67, representing an upside from the current price of $23.59. The average price target has decreased by 6.13% from the previous target of $38.00. The ratings include 6 bullish, 5 somewhat bullish, and 1 indifferent, with no bearish ratings. Analysts typically review stocks quarterly or after major company updates, considering financial performance and market risks.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:00 pm

HLT

Over the past 5 years, Hilton Worldwide Holdings (NYSE:HLT) has produced an average annual return of 18.12%, outperforming the market by 6.6% on an annualized basis. A $100 investment in HLT 5 years ago would be worth $229.39 today. Hilton has a market cap of $43.53 billion.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:00 pm