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BHACU

Trading on BHACU has been halted at 9:27:35 a.m. ET due to pending news. The halt is in place to ensure a fair and orderly market until the news is released and investors have had time to digest the information.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 2:27 pm

BHACW

Trading for BHACW was halted at 9:27:35 a.m. ET due to pending news. The halt is in place until further information is released.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 2:27 pm

BTCUSD

SPY

Mark Yusko, CEO of Morgan Creek Capital Management, has been a Bitcoin advocate since 2018. In 2019, during a Bitcoin dip, he advised on CNBC to 'Buy it,' predicting its long-term value rise. Recently, he suggested a mid-2024 target of $100,000 to $150,000 for Bitcoin and a potential to reach a $5 trillion market cap. An investment of $1,000 in Bitcoin at the time of his 2019 CNBC appearance would now be worth $5,003.33, a 400.3% return, compared to a 71.6% return for the same investment in the SPDR S&P 500 ETF (SPY).

Portfolio Pulse from Chris Katje

December 29, 2023 | 2:25 pm

CCL

Macquarie analyst Paul Golding has maintained an Outperform rating on Carnival Corporation (NYSE:CCL) and increased the price target from $16 to $22.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 2:24 pm

AXR

FDX

GEF

SNCR

Insiders at AMREP, FedEx, Synchronoss Technologies, and Greif have made notable stock purchases, signaling confidence in their respective companies. AMREP's 10% owner bought shares despite a sales decline. FedEx's CFO invested amidst a $1 billion share repurchase agreement. Synchronoss Technologies' director made a purchase after regaining Nasdaq compliance. Greif's EVP and CFO bought shares following strong quarterly earnings.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 2:20 pm

ACAD

ATUS

BKNG

COP

EFX

EXPE

NEO

NTRA

OTLK

UBER

Several top Wall Street analysts have updated their price targets and ratings for various companies. Notable changes include Nomura's downgrade of Uber from Buy to Neutral with a price target increase, Goldman Sachs' price target raise for Equifax while maintaining a Neutral rating, and Ascendiant Capital's price target increases for Expedia, Booking Holdings, and Outlook Therapeutics with maintained Buy ratings. Other firms like BTIG, Raymond James, TD Cowen, Benchmark, and Mizuho also adjusted their price targets for Natera, ConocoPhillips, NeoGenomics, Altice USA, and ACADIA Pharmaceuticals, respectively.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 2:20 pm

BYDDF

JBL

Jabil Inc (NYSE:JBL) has revised its Q2 FY24 guidance following the divestiture of its Mobility business to BYD Electronic (International) Company Limited, a subsidiary of BYD Co Ltd (OTC:BYDDF), for $2.2 billion. The transaction closed earlier than the anticipated date of January 31, 2024, leading to a reduction in the midpoint of the prior guidance range for net revenue by about $400 million and core EPS by $0.30. The new Q2 revenue guidance is $6.6 billion to $7.2 billion, with adjusted EPS of $1.43 to $1.83, both below consensus estimates. FY24 revenue guidance was also slightly revised to $30.6 billion, with core EPS expected to be over $9.00. CFO Mike Dastoor expressed confidence in offsetting lower Q2 income and fully utilizing the $2.5 billion repurchase authorization in FY24. JBL shares dropped slightly by 0.381% to $127.50 in premarket trading.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 2:20 pm

CVX

IWM

SPYX

USO

XLE

XOM

Despite geopolitical tensions, crude oil prices have seen a decline over the year, with Brent down 9.7% and Nymex WTI down 10.4%. The United States Oil Fund (USO) followed a similar pattern. Oil majors like ExxonMobil (XOM), Chevron (CVX), and BP (BP) have seen their shares fall but are still investing heavily in oil, indicating a belief in its long-term value. The Energy Select Sector SPDR Fund (XLE) also declined. In contrast, the SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) outperformed the SPDR S&P 500 (SPY), and the iShares Russell 2000 ETF (IWM) saw a significant gain.

Portfolio Pulse from Neil Dennis

December 29, 2023 | 2:19 pm

Versus Systems Inc. has resumed trading after implementing a 1-for-16 reverse stock split. This corporate action is often used by companies to boost their share price to meet exchange listing requirements or to attract new investors by reducing the number of shares outstanding, which can increase the earnings per share (EPS) metric.

Portfolio Pulse from Charles Gross

December 29, 2023 | 2:04 pm

CHEK

Check-Cap Ltd. received a termination notice from Keystone Dental regarding their previously agreed business combination. The agreement, dated August 16, 2023, involved Keystone, Capstone Dental Pubco, Capstone Merger Sub Ltd, and Capstone Merger Sub Corp.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 2:02 pm