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MBLY

Mobileye Global Inc (NASDAQ:MBLY) reported Q4 2023 revenue of $637.0 million, a 13% increase YOY but slightly below consensus estimates of $639.8 million. Adjusted EPS was $0.28, beating estimates by $0.01. EyeQ and SuperVision revenue rose to $611 million from $543 million, although the Average System Price decreased. Gross margin improved, but adjusted gross margin fell due to higher EyeQ chip costs. The company has $1.21 billion in cash and equivalents. CEO Prof. Amnon Shashua highlighted $7 billion in design wins and expansion in the vehicle model pipeline. FY24 revenue outlook was reiterated at $1.83 billion – $1.96 billion, below the $2.06 billion estimate. MBLY shares dropped 0.77% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 1:25 pm

SPY

SEC Chair Gary Gensler has advocated for a shorter stock settlement time in the U.S. starting in May. He also suggested that central banks around the world should consider reducing the forex settlement time by half.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:25 pm

IFIN

INFINT Acquisition Corporation has received a noncompliance notification from the New York Stock Exchange (NYSE). The notice is likely due to the company not meeting certain listing standards, which could include financial viability, share price, or reporting requirements. The company will have a period to regain compliance, during which its stock will continue to trade on the NYSE. Failure to regain compliance within the set timeframe could lead to delisting.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:19 pm

BYND

Beyond Meat (NYSE:BYND) has seen a decrease in short interest, with 23.61 million shares sold short, representing 40% of its float. The short interest has fallen by 3.24% since the last report, and it would take about 10.62 days to cover all short positions. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price. Beyond Meat's short interest is significantly higher than its peer group average of 4.36%.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 1:15 pm

SATS

EchoStar Corporation (NYSE:SATS) has experienced a significant increase in short interest, with the short percent of float rising to 11.4%, which is above the peer group average of 5.78%. The current volume suggests it would take approximately 2.33 days for traders to cover their short positions. While high short interest can indicate bearish sentiment, it can also lead to bullish outcomes if the stock price increases, prompting a short squeeze.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 1:15 pm

PSEC

Prospect Capital (NYSE:PSEC) has seen a decrease in short interest, with the short percent of float dropping 3.55% since the last report. The company has 18.72 million shares sold short, representing 6.25% of available shares for trading. The average time to cover these short positions is 11.04 days. Short interest is a market sentiment indicator, with decreases suggesting a more bullish outlook. Prospect Capital has a higher short interest than its peer group average of 3.18%.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 1:15 pm

SLGN

Raymond James analyst Matt Roberts has reaffirmed an Outperform rating on Silgan Holdings (NYSE:SLGN) and increased the price target from $49 to $52.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:15 pm

ALCE

Alternus Clean Energy (NASDAQ:ALCE) has formed a strategic alliance with Hover Energy to offer differentiated 24x7 zero-carbon power by integrating solar and wind-powered microgrids. This collaboration aims to reduce intermittency and minimize storage needs, providing reliable power to commercial and industrial customers. The alliance targets 50 MW of projects, with the first construction set for 3Q'24. The partnership is expected to enhance growth and competitive advantage for both companies.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:12 pm

EFTR

eFFECTOR Therapeutics, Inc. (NASDAQ:EFTR) announced a registered direct offering priced at-the-market under Nasdaq rules, aiming to raise $15 million. The offering includes 1,488,834 shares and equal warrants with an exercise price of $9.95, expiring in three and a half years. H.C. Wainwright & Co. is the exclusive placement agent. The proceeds will fund general corporate activities and R&D. The offering is expected to close on January 29, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:11 pm

CNDB

Concord Acquisition Corp III (CNDB) received a noncompliance notification from the NYSE due to having fewer than 300 public stockholders, violating Section 802.01B of the NYSE Listed Company Manual. The company has 45 days to submit a plan to regain compliance within 18 months. The stock will remain listed during this period, pending NYSE approval of the plan and adherence to other listing standards.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:08 pm