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ADBE

Adobe Inc (NASDAQ:ADBE) shares fell over 14.2% following fiscal Q1 earnings, attributed to disappointing guidance on net new Digital Media ARR and skepticism about achieving full-year targets. Analysts from Stifel, JPMorgan, and Goldman Sachs provided mixed reviews, adjusting price targets and maintaining ratings. The company's focus on generative AI and product adoption are seen as key factors for future performance.

Portfolio Pulse from Priya Nigam

March 15, 2024 | 3:59 pm

VERB

Verb Technology shares experienced a significant surge, leading to a trading halt due to a circuit breaker trigger. The stock is currently up by 491.6%.

Portfolio Pulse from Happy Mohamed

March 15, 2024 | 3:57 pm

MCD

McDonald's Corporation (NYSE:MCD) experienced a global technology system outage affecting multiple locations, which has been identified and corrected. The outage, caused by a third-party provider during a configuration change, impacted operations including order-taking and food service in regions such as Japan, Australia, New Zealand, and Europe. McDonald's EVP, Brian Rice, emphasized the importance of technology reliability and stated the issue was not due to a cybersecurity event. Shares of McDonald's traded lower by 0.60% to $279.96 following the news.

Portfolio Pulse from Nabaparna Bhattacharya

March 15, 2024 | 3:56 pm

TG

Tredegar shares are trading higher following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 3:55 pm

DG

Dollar General Corp (NYSE:DG) shares rose after reporting upbeat Q4 earnings, with analysts providing mixed outlooks. Telsey Advisory Group upgraded DG to Outperform with a price target of $170, citing CEO Todd Vasos's return bringing stability and potential for earnings growth in 2H24. BofA Securities maintained an Underperform rating but raised the price target to $118, noting challenges in H1. Goldman Sachs reaffirmed a Buy rating, increasing the price target to $169, and viewed the stock's decline as overdone, highlighting improving consumer backdrop and self-help efforts.

Portfolio Pulse from Priya Nigam

March 15, 2024 | 3:54 pm

EVCM

EverCommerce shares are trading lower following the announcement of disappointing Q4 results and the issuance of Q1 and 2024 revenue guidance that fell below analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 3:54 pm

GCT

GigaCloud Technology Inc. (NASDAQ:GCT) shares surged after reporting Q4 FY 2023 earnings that exceeded expectations and providing an optimistic 2024 guidance. Revenue increased by 94.8% Y/Y to $244.7 million, surpassing the consensus of $224.2 million, driven by higher demand for large parcel merchandise. The company's GMV and active buyers also saw significant year-over-year growth. Gross profit and adjusted EBITDA rose substantially, with EPS of $0.87 beating the consensus of $0.58. The company highlighted the integration of Noble House and Wondersign as key to its global expansion. GCT expects Q1 2024 revenues to be between $230 million and $240 million, above the consensus of $210.2 million. Shares were up 14.2% to $39.96.

Portfolio Pulse from Lekha Gupta

March 15, 2024 | 3:50 pm

CBSTF

Cannabist Company Holdings Inc. (CBSTF) plans to complete a nearly $26M private placement of convertible debentures due 2027, with $17.5M in binding commitments and an additional $2M expected. The funds will be used to repay debt, for working capital, and general corporate purposes. The offering includes converting previous notes and is set to close by March 19, 2024, pending regulatory approvals. Cannabist's Q4 financials show a 76% decrease in net loss to $72.5M, with 2023 revenue steady at $511M. CBSTF shares fell 3.2349% to $0.2393.

Portfolio Pulse from Jelena Martinovic

March 15, 2024 | 3:49 pm

RMAX

Z

ZG

Real estate stocks are trading lower following a $418 million settlement by the National Association of Realtors over broker commissions claims. New rules could also reduce home selling costs.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 3:48 pm

AI

Significant investors have shown a mixed sentiment in C3.ai (NYSE:AI) options trading, with an equal split between bullish and bearish positions. The trading activity, highlighted by Benzinga, includes 12 transactions with a focus on a price range of $25.0 to $35.0 for C3.ai. The company, an enterprise AI solutions provider, has seen its stock price decrease by -2.06% to $28.5. Analysts have given mixed ratings, with an average target price of $28.0. The next earnings report is expected in 75 days.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 3:46 pm