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BGFV

Big 5 Sporting Goods Corporation reported Q4 2023 revenue of $196.3M, which fell short of the analyst estimate of $209.228M.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:14 pm

FMC

BofA Securities analyst Steve Byrne downgraded FMC Corporation (NYSE:FMC) from Neutral to Underperform and lowered the price target from $60 to $57. Byrne predicts a 20% volume contraction for FMC in 2023, which would more than offset the 18% volume gain over the past two years. The contraction is based on the assumption that global inventory levels of crop chemicals will normalize, indicating flat underlying demand. Byrne also expressed concerns about the crop chemical industry's pricing discipline and the challenges in valuing FMC's product pipeline, which includes synthetic products, biologicals, and pheromones. Additionally, Byrne cut the 2024 and 2025 EPS and revenue estimates for FMC. Following the downgrade, FMC shares closed 2.01% lower at $57.04.

Portfolio Pulse from Nabaparna Bhattacharya

January 16, 2024 | 9:12 pm

DH

Definitive Healthcare has appointed Jason Krantz as its Interim CEO, replacing Robert Musslewhite. Krantz, who is the founder of the company, will take over the leadership role as Musslewhite steps down.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:10 pm

IBKR

Interactive Brokers Gr (NASDAQ:IBKR) reported Q4 earnings with an EPS of $1.52, missing estimates by 1.3% against the expected $1.54. Revenue increased by $163 million from the previous year. The company's stock price dropped by 4.12% the day after last quarter's earnings beat, suggesting a potential negative market reaction to the earnings miss.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 9:10 pm

PHUN

Phunware, Inc. has announced a registered direct offering of approximately 87.5 million shares of common stock at $0.08 per share, aiming to raise $7 million. The offering is priced at-the-market under Nasdaq rules and is expected to close on January 18, 2024. Roth Capital Partners is the sole placement agent. The proceeds will be used for working capital, general corporate purposes, and product initiatives like monetizing its patent portfolio and its PhunCoin and PhunToken projects.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:07 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong discussed the impact of Bitcoin ETF approvals on the company, stating it's a positive development. Despite a recent 16% drop in COIN shares post-approval, the stock is still up over 77% in the last three months. Armstrong highlighted Coinbase's role as custodian for 10 of the 13 Bitcoin ETF applications, which could bring modest custody fees. Ark Invest sold 31,281 shares of Coinbase, while Wedbush analyst Moshe Katri upgraded COIN's price target from $110 to $180, maintaining an Outperform rating.

Portfolio Pulse from Erica Kollmann

January 16, 2024 | 9:07 pm

DATS

DatChat, Inc. has announced a proposed underwritten public offering of its common stock. This move could potentially dilute existing shareholders but also provide the company with additional capital for growth and operations.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:07 pm

BX

INVH

MS

SBLK

Morgan Stanley (NYSE:MS) was fined $249 million for leaking information on block trades, affecting clients like Blackstone (NYSE:BX) and Oaktree Capital Management. The leaks allowed a hedge fund to profit by shorting Invitation Homes (NYSE:INVH) and another investment company to bet against Star Bulk Carriers (NASDAQ:SBLK). Morgan Stanley profited from the trades, but the breach of trust cost Blackstone and Oaktree. Morgan Stanley has since improved controls to prevent future breaches.

Portfolio Pulse from Neil Dennis

January 16, 2024 | 9:06 pm

HWC

Hancock Whitney reported Q4 2023 adjusted earnings per share (EPS) of $1.26, surpassing the consensus estimate of $1.19 by 5.88%. However, their quarterly sales of $308.41M fell short of the expected $342.89M, marking a 10.06% miss and a 17.22% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:05 pm

HWC

Hancock Whitney (NASDAQ:HWC) reported Q4 earnings with an EPS of $1.26, beating estimates by 5.88% but with a revenue decrease from the previous year. Despite beating EPS estimates last quarter, the share price dropped by 4.16% the following day.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 9:05 pm