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Stock Prices

VIR

JP Morgan analyst Eric Joseph has downgraded Vir Biotechnology (NASDAQ:VIR) from Overweight to Neutral and reduced the price target from $23 to $9.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:06 am

BTCUSD

Veteran trader Peter Brandt has cautioned new cryptocurrency investors about Bitcoin's (BTC) cyclical market patterns, which he calls 'Hump with a Slump then a Pump and a Dump' (HSPD). He suggests that inexperienced investors often buy during the 'pump' phase and suffer losses in the 'dump' phase. Bitcoin's price was around $41,800 over the weekend but managed a 5% gain the day before. Analyst Markus Thielen predicts BTC could climb above $43,000 and recommends re-entering long positions once it passes this threshold.

Portfolio Pulse from Mehab Qureshi

January 29, 2024 | 11:05 am

MGRC

WSC

WillScot Mobile Mini (WSC) has agreed to acquire McGrath RentCorp (MGRC) for an enterprise value of $3.8 billion, which includes around $800 million of net debt. McGrath shareholders will have the option to receive either $123.00 in cash or 2.8211 WSC shares per MGRC share, representing a 10.1% premium over MGRC's closing price on January 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:03 am

CODA

Coda Octopus Group reported a decrease in FY24 revenue to $19.4M, down 12.9% YoY, with diluted EPS falling to $0.28 from $0.38. The decline was attributed to lower sales in both Marine Technology and Marine Engineering segments, higher commission costs, and a less favorable sales mix. Despite reduced profits and margins, the company increased its cash balance to $24.4M.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:02 am

NSC

Morgan Stanley analyst Ravi Shanker downgraded Norfolk Southern (NYSE:NSC) from Equal-Weight to Underweight and reduced the price target from $185 to $175.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:02 am

PROV

Provident Financial Holdings (NASDAQ:PROV) reported Q2 earnings of $0.31 per share, surpassing the consensus estimate of $0.25 by 24%. However, the company experienced a 6.06% decrease in earnings compared to $0.33 per share from the same period last year. Quarterly sales were $9.65 million, falling short of the $10.00 million estimate by 3.51% and marking a 6.69% decrease from the previous year's sales of $10.34 million.

Portfolio Pulse from totan@benzinga.com

January 29, 2024 | 11:01 am

MRBK

Piper Sandler analyst Frank Schiraldi has downgraded Meridian (NASDAQ:MRBK) from Overweight to Neutral and reduced the price target from $14 to $13.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:00 am

AAPL

INTC

MSFT

NFLX

SPY

TSLA

TXN

The past week's earnings reports from companies like Tesla, Intel, and Texas Instruments were disappointing, affecting market sentiment. However, Netflix's strong performance provided some optimism. With 25% of S&P 500 companies having reported, 69% beat EPS estimates and 68% beat revenue estimates. The upcoming week is tech-heavy with earnings from Microsoft and Apple being highly anticipated, especially Microsoft's AI initiatives. FactSet expects six 'Mag 7' companies, excluding Tesla, to report a 53.7% year-over-year earnings growth for Q4. Energy sector earnings are also to be watched due to low crude oil prices. The SPDR S&P 500 ETF Trust (SPY) saw a slight premarket increase.

Portfolio Pulse from Shanthi Rexaline

January 29, 2024 | 10:51 am

BELFB

Needham analyst James Ricchiuti has maintained a Buy rating on Bel Fuse (NASDAQ:BELFB) and increased the price target from $70 to $77.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:50 am

ZIM

Jefferies analyst Omar Nokta upgraded ZIM Integrated Shipping (NYSE:ZIM) from Hold to Buy and increased the price target from $14 to $20.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:47 am