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PERI

Perion Network Ltd (NASDAQ:PERI) shares dropped in premarket trading as its FY24 forecast missed expectations, despite reporting a 12% increase in Q4 revenues and beating EPS estimates. The company saw significant growth in Retail Media and CTV revenues but experienced a decline in video revenue.

Portfolio Pulse from Nabaparna Bhattacharya

February 07, 2024 | 1:45 pm

UBER

Uber Technologies, Inc. (NYSE:UBER) reported a strong Q4 FY23 performance with a 15% year-on-year revenue growth to $9.94 billion, surpassing the consensus of $9.76 billion. GAAP EPS was $0.29, beating the consensus of $0.17. Despite the positive results, UBER shares dropped 1.73% in premarket trading. Revenue from Mobility, Delivery, and Freight segments showed varied growth, with Mobility leading. Gross Bookings and Trips also saw significant increases. The company expects Q1 gross bookings between $37.0 billion to $38.5 billion and an adjusted EBITDA of $1.26 billion to $1.34 billion.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 1:40 pm

GLT

Glatfelter's stock is trading higher following the announcement of definitive agreements with Berry Global. These agreements involve Berry spinning off and merging the majority of its Health, Hygiene, and Specialties segment, including its Global Nonwovens and Films business, with Glatfelter.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:39 pm

EVAX

Evaxion Biotech A/S (NASDAQ:EVAX), a clinical-stage TechBio company, has regained compliance with Nasdaq's minimum bid price requirement. The company's shares maintained a closing bid price of $1.00 or greater for ten consecutive business days, from January 22, 2024, to February 02, 2024, according to a Notification Letter from Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:34 pm

SSLZY

WDS

Woodside Energy Group Ltd (NYSE:WDS) and Santos Ltd (OTC:SSLZY) have terminated their acquisition discussions. Woodside's CEO emphasized the importance of value accretion for shareholders, while Santos highlighted the lack of sufficient benefits to support a merger. The potential merger, valued at A$80 billion, would have created a significant entity in the global oil and gas sector, particularly in the LNG market. Woodside's shares saw a slight decrease of 0.05% in premarket trading.

Portfolio Pulse from Lekha Gupta

February 07, 2024 | 1:32 pm

AVNW

Aviat Networks' shares surged following the announcement of their Q2 financial results, which exceeded expectations. Additionally, the company provided FY24 revenue guidance that surpassed analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:31 pm

SP

SP Plus (NYSE:SP) has seen a decrease in short interest, with 1.25 million shares sold short, representing 6.4% of its float. This is a decline of 3.47% from its last report, requiring 8.44 days on average for traders to cover their short positions. Short interest is a key indicator of market sentiment, and a decrease suggests a more bullish outlook among investors. SP Plus has a higher short interest compared to its peer group average of 2.75%, indicating more bearish sentiment towards it than its peers.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 1:30 pm

NOK

Nokia's (NYSE:NOK) short interest has decreased by 17.39%, with 21.09 million shares sold short, representing 0.38% of its float. The current short interest suggests a bullish sentiment compared to its peers, where the average short interest as a percentage of float is 7.75%. This change in short interest could influence Nokia's stock performance in the short term.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 1:30 pm

PXD

Pioneer Natural Resources (NYSE:PXD) has seen a 3.7% increase in short percent of float since its last report, with 5.20 million shares sold short, representing 2.24% of available shares. This indicates a bearish sentiment among investors, although it's not a definitive predictor of stock price movement. Compared to its peers, PXD has a lower short interest percentage, suggesting it's performing relatively well within its sector.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 1:30 pm

CRC

California Resources Corporation (CRC) announced a definitive merger agreement with Aera Energy in an all-stock transaction valued at approximately $2.1 billion. The deal includes issuing 21.2 million CRC shares to Aera's equity owners and refinancing Aera's debt. This merger is expected to be immediately accretive, enhancing key 2024 financial metrics, doubling pro forma 2024E free cash flow to about $685 million, and expanding CRC's carbon management platform. Post-merger, CRC plans to increase shareholder returns, reduce debt, and expand its carbon management business. The transaction, expected to close in the second half of 2024, has received unanimous approval from CRC's Board and Aera's shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:29 pm