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Stock Prices

REVG

REV Group has announced an upsized secondary offering of 16 million shares at $16.50/share, with an option for underwriters to buy an additional 2.4 million shares. REV Group itself is not selling any shares and will not receive proceeds from the sale. The offering is expected to close around February 20, 2024. Additionally, REV Group plans to repurchase 8 million shares from the offering at approximately $15.76/share, using cash and borrowings. Baird, Goldman Sachs, Morgan Stanley, and D.A. Davidson & Co. are managing the offering.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:46 am

AIR

TGI

AAR has upsized its offering of senior notes to $550 million at a 6.750% interest rate, due 2029, to finance the acquisition of Triumph Group's Product Support business. The offering, initially set at $500 million, is expected to close by March 1, 2024. The proceeds will fund a portion of the acquisition cost.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:44 am

BTCUSD

ETHUSD

On Valentine's Day, Bitcoin's price surge to $52,000 led to $180 million in short crypto liquidations, marking a two-year peak. This event caused significant losses for traders, with over $90 million in Bitcoin shorts and around $40 million in Ethereum shorts liquidated. The cryptocurrency market is showing signs of 'greed' as investor sentiment reaches a value of 71 on the Crypto Fear & Greed Index. The overall market cap is nearing $2 trillion, with Bitcoin's market cap surpassing $1 trillion.

Portfolio Pulse from Mehab Qureshi

February 15, 2024 | 7:42 am

ABNB

COIN

DBX

LYFT

USFD

U.S. stocks closed higher with the Dow Jones up by 161 points, influenced by improved investor sentiment as indicated by the CNN Money Fear and Greed index remaining in the 'Greed' zone. Lyft shares surged 35% after positive Q4 results and guidance, while Airbnb shares dropped 2% following its Q4 financial report. The S&P 500 and Nasdaq also saw gains, with industrials, information technology, and communication services leading. Investors are looking forward to earnings from US Foods Holding, Deere & Company, Coinbase Global, and Dropbox.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 7:39 am

COIN

CSCO

HUBS

USFD

Cisco Systems reported better-than-expected Q2 results but weak full-year 2024 guidance and a workforce cut plan, causing shares to drop. US Foods Holding is expected to report earnings with shares slightly up. Deere & Company's earnings anticipation caused a minor share decrease. HubSpot reported strong Q4 results and FY24 guidance, boosting shares. Coinbase Global is expected to report a quarterly loss, yet shares increased.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 7:37 am

PFE

Pfizer Inc (NYSE:PFE) has agreed to pay $93 million to settle an antitrust lawsuit over its cholesterol drug Lipitor, accused of delaying generic versions with Ranbaxy Laboratories. The settlement, pending judge approval, ends over a decade of legal battles without Pfizer admitting liability. The lawsuit against Ranbaxy, now owned by Sun Pharma, continues. This adds to Pfizer's recent legal challenges, including patent infringement lawsuits and allegations of misleading COVID-19 vaccine efficacy.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 7:24 am

Deere & Company (NYSE:DE) is anticipated to report lower Q1 earnings with an expected EPS of $5.21, down from $6.55 the previous year, and revenue of $10.34 billion. Despite this, DE shares rose 1.5% recently. Analysts from JP Morgan, Evercore ISI Group, Deutsche Bank, Stifel, and UBS have provided varied ratings and price targets for DE, reflecting a cautious to optimistic outlook.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 6:02 am

EWA

Australia reported a significant improvement in employment change for January, with an addition of 11.1K jobs compared to the revised -109.5K jobs in the prior period. This positive development could influence the performance of related assets, including EWA.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:41 am

TSLA

Morgan Stanley analyst Adam Jonas reports a negative outlook for Tesla, Inc. (TSLA) from institutional investors, expecting underperformance in the next year. The sentiment is influenced by concerns over EV demand and potential lack of volume growth in 2024. Despite this, Jonas maintains an Overweight rating on TSLA, citing over 80% upside potential.

Portfolio Pulse from Shanthi Rexaline

February 15, 2024 | 5:35 am

LYFT

Lyft Inc. CEO David Risher took responsibility for a significant error in the company's Q4 earnings report, which initially indicated a 5% margin expansion for 2024, causing the stock to surge over 60%. The error was corrected to a 0.5% increase, leading to a substantial drop in stock value. Despite the correction, Lyft's stock still saw a 35% increase the following day, marking its best day since IPO in 2019. The company's revenue and adjusted earnings for the quarter exceeded analysts' estimates.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 5:12 am