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BCS

Barclays PLC (NYSE:BCS) shares surged premarket Tuesday following its Q4 FY23 earnings report. Despite a 3% Y/Y decline in total income to £5.6 billion and an attributable loss of £0.1 billion, the bank announced a further share buyback of up to £1 billion. Barclays plans to restructure its reporting segments and targets significant income and capital return to shareholders by 2026, alongside cost savings through structural actions including headcount reduction.

Portfolio Pulse from Lekha Gupta

February 20, 2024 | 1:27 pm

JANX

Janux Therapeutics, Inc. (NASDAQ:JANX) announced a virtual event on February 26th, 2024, to discuss updated clinical data for its immunotherapies JANX007 and JANX008. JANX007 targets PSMA for prostate cancer and is in Phase 1 trials. JANX008 targets EGFR for various cancers including lung and colorectal, also in Phase 1 trials. The event will include efficacy and safety updates, with a focus on dose identification for expansion studies.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:27 pm

EFSH

1847 Holdings LLC announced the strategic divestiture of its 1847 Asien subsidiary. This move is part of the company's broader strategy to streamline operations and focus on its core businesses. The divestiture of 1847 Asien is expected to have financial and operational implications for 1847 Holdings, potentially affecting its stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:25 pm

ACTG

Acacia Research Corporation (NASDAQ:ACTG), through its majority-owned subsidiary Benchmark Energy II, LLC, has announced a significant acquisition of upstream assets in the Western Anadarko Basin, Texas and Oklahoma, from a private seller. This acquisition, expected to close in Q2 2024, will add over 470 operated producing wells across approximately 140,000 net acres, with anticipated annualized asset-level cash flows of around $45 million. The deal, valued at Acacia's share of approximately $57.5 million, aims to enhance Benchmark's portfolio with a focus on cash flow through acquiring cash-flowing oil and gas properties. The transaction is funded by cash from Acacia and McArron Partners, along with committed debt financing from regional banks.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:23 pm

UFPI

UFP Industries (NASDAQ:UFPI) reported Q4 earnings of $1.62 per share, missing the $1.65 estimate, and sales of $1.52B, below the $1.64B estimate. This represents a 22.86% decrease in earnings and a 20.36% decrease in sales from the same period last year.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 1:20 pm

BNZI

Banzai International, Inc. (NASDAQ:BNZI) reported a December 2023 ARR of $4.6M and targets a December 2024 ARR of $8.1M-$10M. The company executed an LOI to acquire Mixed Analytics, aiming to enhance its MarTech solutions. This acquisition, along with others under LOI, is expected to contribute to the targeted ARR growth. Banzai's strategy includes organic growth and acquisitions, with a significant increase in ARR anticipated by the end of 2024.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 1:18 pm

PRSO

Peraso Inc. (NASDAQ:PRSO) announced the EtherWave software package for its 60 GHz IEEE 802.11ad module products, offering cross-platform support for Android, Windows, and Linux. EtherWave enables efficient Ethernet data transport over USB without specific drivers, targeting AR/VR and tactical communications applications. Currently in pre-release testing, EtherWave is expected to be generally available for Android by Q2 2024. Positive feedback from beta-customers highlights nearly 2Gbps throughput and enhanced security features.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 1:15 pm

AMAT

APP

PXLW

SOUN

Four tech stocks, SoundHound AI, Inc. (SOUN), AppLovin Corporation (APP), Applied Materials, Inc. (AMAT), and Pixelworks, Inc. (PXLW), are considered overbought as of Feb. 20, 2024, based on their RSI values. These stocks have shown significant price gains in the short term, with SOUN, APP, and AMAT reporting positive developments, while PXLW reported a wider-than-expected loss.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 1:14 pm

KTOS

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) has ordered nine Zeus 1 and Zeus 2 rocket motors for initial customer funded flights. These motors are part of Kratos' strategy to provide affordable, high-performance solid rocket motors (SRMs) for various missions, including hypersonic test and ballistic missile targets. The Zeus SRMs are designed to offer performance improvements, allowing for more frequent, faster, and farther flights at reduced costs. Kratos' investments in hypersonic systems like Erinyes and Dark Fury complement these SRMs, positioning the company as a key player in both launcher and flyer systems.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 1:14 pm

LYFT

MSFT

SBUX

UBER

Lyft Inc (NASDAQ:LYFT) reported better-than-expected 2023 financials, with a significant stock surge followed by a sharp fall due to a corrected earnings typo. Despite this, Lyft's strategic partnerships with Starbucks (NASDAQ:SBUX) and Microsoft's LinkedIn (NASDAQ:MSFT) and strong financial performance indicate profitable growth ahead. In contrast, Uber Technologies Inc (NYSE:UBER) reported its first-ever annual profit with impressive quarterly results, outperforming Lyft in market value and user growth.

Portfolio Pulse from Upwallstreet

February 20, 2024 | 1:13 pm