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CTLT

Catalent, Inc. (NYSE:CTLT) announced its acquisition by Novo Holdings for $63.50 per share in cash, leading to a 9.7% jump in its shares to close at $59.82. Following the news, analysts at UBS and RBC Capital raised their price targets on Catalent to $63.5, while downgrading the stock to Neutral and Sector Perform, respectively.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 1:22 pm

FI

Fiserv, Inc (NYSE:FI) reported Q4 results with a 6% Y/Y revenue increase to $4.92 billion, surpassing the $4.69 billion consensus. Adjusted EPS of $2.19 also beat the consensus of $2.15, marking a 15% increase from the previous year. Organic revenue grew by 12%, led by the Acceptance segment. The company has raised its FY24 organic revenue growth forecast to 15%-17% and adjusted EPS to $8.55-$8.70. Despite the positive report, FI shares dropped 1.14% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 06, 2024 | 1:20 pm

SCPX

NightHawk Biosciences has officially changed its name to Scorpius Holdings, Inc. and will trade under the new ticker 'SCPX' starting February 6, 2024. This change reflects the company's transition to a specialized contract development and manufacturing organization (CDMO) focusing on large molecule biomanufacturing. The company's share structure and shareholder rights remain unaffected. CEO Jeff Wolf highlighted the strategic move to address the biopharmaceutical sector's demand for clinical-scale biologic manufacturing, noting positive feedback and an enhanced sales pipeline.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:18 pm

CSCO

NVDA

Nvidia Corp has partnered with Cisco Systems Inc to develop corporate AI computing infrastructures, aiming to broaden AI technology accessibility. This collaboration allows Cisco to integrate Nvidia's AI technology into its networking solutions, enhancing Nvidia's distribution channels and enabling Cisco to capitalize on the AI investment surge. The partnership was announced at Cisco Live in Amsterdam, indicating a strategic move to decentralize AI hardware deployment beyond major data-center operators like Microsoft Corp, Amazon.Com Inc, Alphabet Inc's Google, and Meta Platforms Inc.

Portfolio Pulse from Anusuya Lahiri

February 06, 2024 | 1:16 pm

CHEA

NVIV

PLTR

PRSO

XCUR

Palantir Technologies Inc. shares surged 18% in pre-market trading after reporting Q4 sales above expectations and providing guidance. Other stocks also showed significant pre-market movements, with InVivo Therapeutics, Chenghe Acquisition, and Exicure among the top gainers, while Peraso Inc., Trio Petroleum, and Symbotic Inc. led the losers.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 1:16 pm

DOCU

DocuSign shares are trading lower following the announcement of a restructuring plan that includes a 6% reduction in its workforce.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:10 pm

SEER

Seer, Inc. (NASDAQ:SEER) announced a study published in Nature Communications, led by Weill Cornell Medicine, showcasing the capabilities of Seer's Proteograph workflow in proteogenomics. The study, which utilized Seer's Proteograph Assay, identified over 18,000 peptides from around 3,000 proteins in blood samples, revealing 184 protein-altering variants in 137 genes. This breakthrough enables unprecedented mapping of genetic markers for drug and biomarker discovery, overcoming limitations of traditional affinity-based methods. Seer's Proteograph XT Assay Kit further enhances this by doubling throughput and maintaining high-resolution insights, supporting large-scale proteogenomic studies and precision medicine.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:10 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares continue to decline, with a 3.65% drop to $181.06 on Monday and a further 2.27% decrease in pre-market trading on Tuesday. The stock's downturn is attributed to a downgrade by Daiwa Securities from 'Buy' to 'Hold' and a price target cut from $245 to $195. Additionally, Piper Sandler's Alexander Potter reduced his price target due to concerns over Tesla's aging pipeline and lack of a budget model EV. This comes amid overall market indecision despite recent highs in the S&P 500 Index and the Dow Industrials.

Portfolio Pulse from Shanthi Rexaline

February 06, 2024 | 1:09 pm

BRTX

BioRestorative Therapies, Inc. (BRTX), a clinical stage company focusing on stem cell-based therapies, announced the exercise of existing warrants and issuance of new warrants in a private placement, aiming to raise approximately $8.1 million in gross proceeds. The transaction involves the exercise of warrants for 3,351,580 shares at a reduced price of $2.33 per share and the issuance of new warrants exercisable for 2,513,685 shares at $2.43 per share, with a five-year term. Roth Capital Partners is the financial advisor for this transaction. The company plans to file a resale registration statement on Form S-3 with the SEC within 10 days to register the resale of shares underlying the new warrants.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:09 pm

AMRK

A-Mark Precious Metals, Inc. (AMRK) plans to acquire LPM Group Limited from AMS Holding, LLC for $41.5M, marking its expansion into Asia. The deal includes a mix of cash and AMRK stock, with additional performance-based payments. LPM, a major precious metals dealer in Asia, will benefit from A-Mark's resources and e-commerce expertise. Additionally, A-Mark affiliate Pinehurst Coin Exchange will acquire assets from ModernCoinMart for $5.5M, and a joint venture will invest in AMS Holdings. The transactions aim to enhance A-Mark's global presence and product offerings.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:08 pm