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In Monday's pre-market session, several industrials stocks showed notable movements. Sunworks, Intuitive Machines, JE Cleantech Hldgs, Zurn Elkay Water, Innovate, and WANG & LEE Group were among the gainers, with Sunworks leading by a 25.2% increase. On the downside, Vast Renewables, AERWINS Technologies, Tritium DCFC, Hyliion Holdings, Microvast Holdings, and Jet AI experienced declines, with Vast Renewables dropping by 8.2%. Zurn Elkay Water's stock rise was attributed to its Q4 earnings release four days ago.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 1:05 pm

GNSS

LPTH

MNDY

RXT

In Monday's pre-market session, several Information Technology stocks showed significant movements. Genasys, Rackspace Tech, and SMX were among the top gainers, with increases of 17.7%, 13.77%, and 11.11% respectively. On the losing side, LightPath Technologies, MicroCloud Hologram, and Monday.Com experienced declines of 19.8%, 13.82%, and 11.31% respectively. Notably, earnings reports influenced some of these movements, with Amtech Systems, LightPath Technologies, and Monday.Com releasing their financial results.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 1:05 pm

BYD

Susquehanna analyst Joseph Stauff downgrades Boyd Gaming (NYSE:BYD) from Positive to Neutral and lowers the price target from $84 to $75, indicating a more cautious outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 1:03 pm

WISH

ContextLogic Inc. (WISH) has agreed to sell its operating assets, including the Wish ecommerce platform, to Qoo10 for $173 million in cash, equating to about $6.50 per share, a 44% premium over its last closing price. This sale will leave ContextLogic with significant Net Operating Loss (NOL) carryforwards of approximately $2.7 billion, which it plans to monetize. The company will remain publicly listed and intends to return capital to shareholders if it cannot monetize the NOLs effectively. The transaction is expected to close in Q2 2024, subject to shareholder approval.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 1:03 pm

MNDY

Monday.com Ltd (NASDAQ:MNDY) reported Q4 2023 revenue growth of 35% Y/Y to $202.57 million, surpassing consensus estimates. Adjusted EPS was $0.65, beating the consensus of $0.32. Despite positive financial results, MNDY shares dropped 9.76% in premarket trading. The company also reported a net dollar retention rate of 110%, a 56% Y/Y increase in paid customers with over $50,000 in ARR, and strong cash flows. CFO Eliran Glazer expressed confidence in future growth despite economic challenges. Monday.com provided an optimistic outlook for Q1 and FY24 revenues and adjusted operating margins.

Portfolio Pulse from Anusuya Lahiri

February 12, 2024 | 1:02 pm

BIG

Big Lots (NYSE:BIG) has been the subject of diverse analyst opinions ranging from bullish to bearish over the past quarter, with a notable shift towards a bearish outlook in the last 30 days. The average 12-month price target for BIG has been lowered to $4.6 from $6.40, indicating a negative sentiment among analysts. Key financial metrics show Big Lots trailing behind industry peers, with challenges in revenue growth, profitability, and debt management.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 1:01 pm

OC

Owens-Corning (NYSE:OC) has received mixed analyst ratings over the past three months, with an average 12-month price target of $161.0, reflecting a 21.05% increase from the previous target. The company, a manufacturer of glass fiber, faces challenges in revenue growth and ROE but excels in net margin and ROA. Analysts from Barclays, Goldman Sachs, and JP Morgan have updated their ratings and price targets, indicating varying expectations for the company's performance.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 1:00 pm

IMVT

Immunovant (NASDAQ:IMVT) reported Q3 earnings, beating estimated earnings by 16.28% with an EPS of $-0.36 versus an estimate of $-0.43. However, revenue remained unchanged from the same period last year. In the previous quarter, the company also surpassed EPS estimates, which led to a 4.22% increase in share price the following day.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 1:00 pm

TRMB

Trimble (NASDAQ:TRMB) reported Q4 2023 adjusted EPS of $0.63, surpassing the $0.59 estimate, with sales of $932.40M exceeding the $909.53M forecast. This represents an 8.86% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:59 pm

MNDY

Monday.com's shares are trading lower despite the company reporting Q4 results that exceeded estimates and providing FY24 guidance.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:55 pm