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PH

Parker-Hannifin's stock is trading higher following the announcement of their Q2 financial results, which exceeded expectations. Additionally, the company has increased its guidance for FY24, signaling stronger future performance.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:44 pm

RACE

Ferrari's stock is on the rise following the announcement of its Q4 and 2023 financial results, along with its guidance for 2024.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:43 pm

PAYS

PCSA

RLMD

Insiders at Relmada Therapeutics, Processa Pharmaceuticals, and PaySign have recently made significant stock purchases. These transactions indicate insider confidence in the companies' prospects. Processa Pharmaceuticals announced a public offering, Relmada Therapeutics reported a narrower quarterly loss, and PaySign posted better-than-expected sales.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 1:42 pm

CNMD

CONMED Corporation (NYSE:CNMD) reported Q4 earnings below market expectations, with adjusted earnings of $1.06 per share against estimates of $1.11 and sales of $327.05 million versus expected $332.20 million. Despite this, the company saw significant year-over-year growth in both domestic and international revenues. CONMED's CEO highlighted the year's success and the company's outlook for 2024, projecting revenue between $1.340 billion and $1.365 billion and adjusted earnings per share of $4.30 to $4.40. Following the report, Needham raised its price target for CONMED from $119 to $129, while Wells Fargo reduced its target from $107 to $98.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 1:42 pm

KPLT

Katapult Holdings reports preliminary Q4 revenue of approximately $58.0 million, surpassing the estimated $55.815 million.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:41 pm

PLUG

Plug Power Inc (NASDAQ:PLUG) stock has seen a significant increase of 26% over the past five days, despite a 74% decline over the past year. This surge is attributed to a potential short squeeze, highlighted by a recent upgrade from Roth MKM analyst Craig Irwin from Neutral to Buy with a price target increase to $9. The company's short interest stands at 26.4%, with notable short volume trades recorded. Despite this, the company's fundamentals remain weak, with liquidity shrinking to $140 million by Q4. The company has secured a $1 billion ATM facility, which may be utilized soon, posing a risk of dilution.

Portfolio Pulse from Surbhi Jain

February 01, 2024 | 1:41 pm

VLCN

Volcon announced a 1-for-45 reverse stock split, leading to its shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:38 pm

CHRW

C.H. Robinson's stock price declined following the announcement of their Q4 financial results, which did not meet expectations.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:38 pm

NXT

Nextracker's stock price increased following the announcement of their Q3 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:36 pm

PSX

Phillips 66 (NYSE:PSX) reported Q4 financial results surpassing expectations with revenue of $38.74 billion and adjusted EPS of $3.09. The company saw varied performance across its segments, with notable achievements in Midstream and Chemicals, but a decline in Refining and Marketing & Specialties. CEO Mark Lashier highlighted the company's strategic execution and shareholder value delivery, with $8.3 billion distributed to shareholders since July 2022. Following the report, Phillips 66 shares rose by 1.3%, and analysts from Raymond James and Wells Fargo raised their price targets for PSX.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 1:35 pm