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APD

Air Products' shares dropped following disappointing Q1 financial results, with the company also reducing its FY24 adjusted EPS guidance and issuing lower-than-expected Q2 adjusted EPS guidance.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:33 pm

XTKG

X3 Holdings Co., Ltd. (NASDAQ:XTKG) announced a strategic roadmap for global expansion, targeting growth in digital technologies, bitcoin cryptomining, renewable energy, and agriculture technologies. The company plans to expand its digital trade platforms and services globally, develop bitcoin mining operations powered by sustainable energy, and pursue renewable energy projects and agriculture technologies to improve farm operations and reduce costs. CEO Stewart Lor emphasized the transformative journey and the focus on high-growth industries to drive innovation and create value.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:33 pm

NSTG

TXG

NanoString Technologies Inc (NSTG) initiated a Chapter 11 restructuring due to financial strain from a patent litigation loss to 10x Genomics Inc (TXG), with over $31 million in damages awarded. NanoString is exploring strategic alternatives, including a potential sale, and has secured a principle agreement for $40 million in debtor-in-possession financing to maintain operations. NSTG shares plummeted 59.43% in premarket trading.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 1:31 pm

SLAMU

Trading for SLAMU was halted and then resumed at 8:30 AM ET, following an update on halt status. The update included news and specific times for resumption.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:30 pm

MCD

McDonald's Corporation (NYSE:MCD) reported mixed Q4 2023 results with adjusted EPS of $2.95, beating consensus but sales of $6.41 billion fell short. U.S. same-store sales rose 4.3%, with worldwide growth at 3.4%. International sales were impacted by Middle East tensions, particularly in the developmental licensed markets segment. The company's loyalty program and digital growth contributed positively, while charges related to software write-offs and restructuring impacted operating income.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 1:29 pm

SLAM

Trading halt status was updated at 8:25:00 AM ET, indicating a resumption of quotations. The update pertains to the resumption times for news and trading activities.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:25 pm

SLAM

Slam Corp. (NASDAQ:SLAM) and Lynk Global, Inc. have announced a definitive business combination agreement, aiming to create Lynk Global Holdings, Inc., which will be listed on Nasdaq under the ticker symbol 'LYNK'. This merger leverages Lynk's sat2phone technology, compatible with 2G to 5G devices without modification, and aims to expand global wireless connectivity. The deal values Lynk at $800 million pre-money and is expected to close in the second half of 2024, subject to customary closing conditions and shareholder approval. The capital raised will accelerate the production of satellites and support operations, aiming to connect over two billion unconnected people worldwide.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:21 pm

GRRR

Gorilla Technology Group Inc. (GRRR) reported a significant increase in its financial performance for the first nine months of 2023, with revenues reaching $37.9M, a more than double increase from the previous year. The company achieved a gross margin of 76.5%, a substantial rise from the previous year's 33%, and turned around its comprehensive income to $7.2M from a loss of $86M last year. Adjusted EBITDA surged by 431% YoY. Gorilla's CEO highlighted the company's exceeding of Q3 revenue expectations, a robust sales pipeline over $1 billion, and confidence in meeting the 2024 revenue target of $90M. The company's financial success is attributed to its AI-based edge video analytics, IoT technologies, and security convergence offerings.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:20 pm

CLEU

China Liberal Education Holdings Limited (CLEU), a provider of smart campus solutions and educational services in China, has regained compliance with Nasdaq's minimum bid price requirement. The company received a notification from Nasdaq on February 2, 2024, confirming compliance after a share consolidation increased the bid price above $1.00 per share for 10 consecutive days. The issue of non-compliance was initially raised on September 26, 2023, due to the bid price falling below $1.00 for 30 consecutive days.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:18 pm

CI

Cigna Corporation (NYSE:CI) reported Q4 2023 sales of $51.15 billion, a 12% increase Y/Y, surpassing consensus estimates. Adjusted EPS was $6.79, beating Wall Street's expectation of $6.53. The company also announced a 14% increase in its quarterly dividend to $1.40 per share and provided a strong FY 2024 revenue outlook of at least $235 billion with an adjusted EPS of at least $28.25. Following the report, Cigna's shares rose 5.4%. Analysts from Cantor Fitzgerald and RBC Capital raised their price targets on Cigna, upgrading the stock to Overweight and Outperform, respectively.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 1:15 pm