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MGRC

WSC

WillScot Mobile Mini has agreed to acquire McGrath RentCorp for $3.8 billion, causing McGrath RentCorp's shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:20 am

ZIM

ZIM Integrated Shipping Services' stock is trading higher following an upgrade from Hold to Buy by Jefferies, which also increased the price target from $14 to $20.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:09 am

ABNB

Barclays analyst Mario Lu has maintained an Underweight rating on Airbnb (NASDAQ:ABNB) but increased the price target from $100 to $110.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:09 am

WBD

Warner Bros. Discovery's stock (WBD) trades lower following a downgrade by Wells Fargo from Overweight to Equal-Weight and a reduction in the price target from $16 to $12.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:08 am

PPBI

Pacific Premier Bancorp (NASDAQ:PPBI) exceeded analyst expectations for Q4 with an adjusted EPS of $0.51, surpassing the estimate of $0.48, and adjusted sales of $166.66M, beating the estimate of $148.98M. However, these figures represent a decrease from the previous year, with earnings down 33.77% and sales down 17.45%.

Portfolio Pulse from totan@benzinga.com

January 29, 2024 | 11:07 am

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