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ESAC

ESGEN Acquisition Corp. (ESAC) and Sunergy Renewables have announced updated terms for their pending business combination. The revised terms include a commitment from ESGEN's sponsor to purchase up to $15 million in Convertible Preferred Equity Securities, with $10 million funded at closing and an option for an additional $5 million within six months. The pro forma implied enterprise value of the combined company is $390 million. Energy Spectrum will fund the purchase and has increased its original commitment. The transaction is expected to close in the first half of 2024 and is subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:39 pm

BA

ZNH

China has given Boeing Co (NYSE:BA) approval to resume deliveries of its 737 MAX 8 aircraft to Chinese customers, ending a two-year suspension. The first 737 MAX 8, registered to China Southern Airlines (NYSE:ZNH), is currently grounded in Hawaii. This comes as Boeing faces FAA restrictions on expanding production of its narrowbody planes due to a recent cabin panel blowout incident on a 737 MAX 9 jet operated by Alaska Airlines. The resumption of deliveries in China could help Boeing amid its operational challenges and ongoing US scrutiny.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 1:38 pm

APO

BABA

BX

SLB

On CNBC's 'Halftime Report Final Trades,' analysts discussed Alibaba Group (BABA), Blackstone (BX), Apollo Global Management (APO), and Schlumberger (SLB). Alibaba appointed a new acting CEO for Daraz Group amid a management reshuffle. Blackstone is set to release quarterly earnings with analysts expecting a slight decrease in EPS compared to the previous year. Apollo received a price target increase from Morgan Stanley, and Schlumberger reported a revenue increase in Q4 fiscal 2023, beating consensus estimates. All mentioned stocks saw gains in their recent trading sessions.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 1:37 pm

CASS

Cass Information Systems (CASS) reported Q4 earnings of $0.61 per share, surpassing the consensus estimate of $0.48 by 27.08%. However, this represents an 8.96% decrease from the previous year's earnings of $0.67 per share. Quarterly sales reached $50.74M, exceeding estimates of $48.33M by 4.98% and marking a 3.66% increase from the prior year's $48.95M.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:36 pm

NOC

Northrop Grumman's stock (NOC) is trading lower following the release of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:35 pm

INBS

Intelligent Bio Solutions Inc. has announced a 1-for-12 reverse stock split. This corporate action is typically used by companies to boost their share price by reducing the number of shares outstanding, which can help them meet minimum price requirements for stock exchanges and appear more attractive to investors. However, reverse splits do not change the company's overall market capitalization and can sometimes be viewed negatively as they may indicate underlying financial issues.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:35 pm

KRNY

Kearny Financial (NASDAQ:KRNY) reported Q2 adjusted earnings of $0.11 per share, missing the consensus estimate of $0.12, representing an 8.33% miss and a 35.29% decrease from last year's earnings. Sales were $35.84M, falling short of the $37.03M estimate by 3.23% and marking a 19.97% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:35 pm

IBM

IBM's stock price is trading higher following the announcement of their Q4 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:34 pm

PRAX

RXST

SLCA

TTEK

Jim Cramer, on CNBC's 'Mad Money Lightning Round,' labeled Praxis Precision Medicines (PRAX) as 'too risky' despite its 64% stock jump over the past month following a public offering. He also rejected U.S. Silica Holdings (SLCA) after its Q3 results fell short of expectations. Conversely, Cramer endorsed Tetra Tech (TTEK) following Keybanc's Overweight rating and $191 price target. RxSight (RXST) was noted for losing money, with Cramer seeking further analysis despite Needham's Buy rating and increased price target from $35 to $41.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 1:33 pm

SPY

December's Retail Inventories excluding autos showed an increase of 0.6%, a reversal from the prior month's decrease of 0.9%. This indicates a potential buildup of inventory levels in the retail sector.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:32 pm