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BUR

GTX

HIMS

The Maize and Blue Stock Pitch Competition 2024 at the University of Michigan showcased students' stock analysis skills with Jayant S. Namdhari winning first place for a bearish thesis on Hims & Hers Health Inc. (HIMS). Other notable pitches included bullish theses on Garrett Motion Inc. (GTX) and Burford Capital Limited (BUR), and a variety of other companies were analyzed, demonstrating the event's contribution to finance education.

Portfolio Pulse from Josh Walter

February 29, 2024 | 10:21 pm

IBIT

IVV

QQQ

VGT

VOO

In February, investors directed nearly $40B into 10 ETFs, with the S&P 500 and Nasdaq 100 indices showing significant gains. The ETFs attracting the most funds include those focusing on broad equity indices, Treasury bonds, and Bitcoin. The Vanguard S&P 500 ETF, iShares Core S&P 500 ETF, and Vanguard Information Technology ETF led in inflows. This investment trend reflects confidence in the U.S. stock market and a strong appetite for tech and diversified investments.

Portfolio Pulse from Piero Cingari

February 29, 2024 | 10:21 pm

BAC

BLK

HOOD

SCHW

UBS

WFC

Merrill (Bank of America Corp.) and Wells Fargo & Co. have started offering Bitcoin ETFs to their wealth management clients, following SEC's approval of Bitcoin ETFs. This move is part of a broader trend with firms like Charles Schwab Corp., Robinhood Markets Inc., UBS Group AG, and potentially Morgan Stanley exploring similar offerings. BlackRock Inc. and Fidelity Investments have seen significant inflows into their Bitcoin ETFs, indicating strong demand. However, Vanguard Group Inc. remains skeptical about cryptocurrency investments.

Portfolio Pulse from Murtuza Merchant

February 29, 2024 | 10:18 pm

INTT

inTEST Corporation announced preliminary Q4 revenue of approximately $28.4M with EPS of $0.14 and forecasts Q1 revenue to be between $28M-$30M with EPS ranging from $0.08-$0.13. Additionally, the company has decided to reschedule its Q4 earnings release.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:17 pm

MTZ

MasTec projects a Q1 revenue of around $2.6B, missing estimates of $2.744B, and an adjusted EPS loss of approximately $(0.48), worse than the estimated $(0.20). The shortfall is attributed to seasonal slowness, project delays, and start-up costs.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:15 pm

SMHI

Seacor Marine Holdings (SMHI) reported Q4 earnings of $0.20 per share, surpassing the consensus estimate of $(0.49) by 140.82%. Sales reached $73.08M, beating estimates of $63.55M by 15%. This marks a significant improvement from the previous year, with a 140% increase in earnings and a 26.17% increase in sales.

Portfolio Pulse from Happy Mohamed

February 29, 2024 | 10:10 pm

NYCB

New York Community Bancorp Inc (NYSE:NYCB) shares plummeted in after-hours trading following the company's announcement of material weaknesses in internal controls and a leadership transition. The weaknesses, related to internal loan review, are due to ineffective oversight and monitoring. The company expects to report ineffective disclosure controls in its 2023 Form 10-K. Additionally, Alessandro DiNello has been appointed as president and CEO, replacing Thomas Cangemi, who remains on the board. This news follows a recent downgrade by Moody's and a significant share price drop.

Portfolio Pulse from Adam Eckert

February 29, 2024 | 10:06 pm

BRBR

BellRing Brands has announced a new share repurchase authorization of $300 million, signaling confidence in the company's financial health and future prospects. This move is likely to positively impact investor sentiment and could lead to an increase in the stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:06 pm

ARIZ

FUFU

Arisz Acquisition Corp. (NASDAQ:ARIZ) has completed its business combination with BitFuFu, a leading company in the digital asset mining industry. The combined entity, BitFuFu Inc., will trade on Nasdaq under the ticker symbols 'FUFU' for Class A ordinary shares and 'FUFUW' for warrants, starting March 1, 2024. This merger, approved by shareholders of both companies, marks BitFuFu's entry into the public market, aiming to expand its global footprint and offerings in cloud-mining, self-mining, and miner hosting. The merger is supported by a $74M PIPE investment to accelerate BitFuFu's growth.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:06 pm

GIA

QTI

GigCapital5, Inc. (NASDAQ:GIA) and QT Imaging, Inc. have announced the completion of their business combination on March 4, 2024, with QT Imaging Holdings, Inc. expected to start trading on Nasdaq under the ticker 'QTI' on March 5, 2024. This marks GigCapital5's fifth business combination, leveraging QT Imaging's innovative medical imaging technology. QT Imaging, known for its advanced breast imaging system, is poised for growth in the healthcare market.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:04 pm