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GROM

Grom Social Enterprises, Inc. (NASDAQ:GROM) has announced the pricing of a public offering of 946,000 units at $3.00 per unit and approximately 54,000 pre-funded units at $2.999 per unit. The offering is expected to close on September 12, 2023, and is expected to generate gross proceeds of approximately $3.0 million. The proceeds will be used for general corporate purposes, including acquisitions, R&D, strategic partnerships, and working capital.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:31 pm

GROM

SWBI

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) shares gained 11.5% in pre-market trading after the company reported better-than-expected financial results. Other pre-market gainers include Impel Pharmaceuticals Inc. (NASDAQ:IMPL), AGBA Group Holding Limited (NASDAQ:AGBA), BioNexus Gene Lab Corp. (NASDAQ:BGLC), and Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE). On the other hand, Grom Social Enterprises, Inc. (NASDAQ:GROM), Digital Media Solutions, Inc. (NYSE:DMS), Kaixin Auto Holdings (NASDAQ:KXIN), Rosecliff Acquisition Corp I (NASDAQ:RCLF), and Inpixon (NASDAQ:INPX) fell in pre-market trading.

Portfolio Pulse from Lisa Levin

September 08, 2023 | 12:28 pm

HOFT

Hooker Furnishings Corp (NASDAQ:HOFT) shares dropped over 13% following worse-than-expected Q2 FY24 results. The company reported a 36% Y/Y sales decline to $97.8 million, missing the consensus of $134.75 million. Revenue was impacted by lower demand for home furnishings and the company's planned divestiture of unprofitable operations in the Home Meridian segment. The company's Board of Directors declared a quarterly cash dividend of $0.22 per share. In Q2, the company acquired BOBO Intriguing Objects, broadening its product diversity.

Portfolio Pulse from Lekha Gupta

September 08, 2023 | 12:24 pm

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SPRB

Several analyst forecasts were released on Friday, with price target changes for multiple companies. DigitalOcean Holdings, ABM Industries, and Clarivate Plc saw price target cuts and downgrades, while Gilead Sciences, Adobe Inc., Delek Logistics Partners, Spruce Biosciences, Braze, Designer Brands, and G-III Apparel Group had their price targets increased. C3.ai had its price target slightly reduced.

Portfolio Pulse from Lisa Levin

September 08, 2023 | 12:24 pm

SNOW

Snowflake shares are trading higher after the company initiated coverage on the stock with a Buy rating and a $200 price target.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:23 pm

Kroger reported mixed results and issued cautious guidance, leading to a drop in its share price. The company also agreed to an opioid settlement, committing to pay up to $1.2 billion to states and subdivisions and $36 million to tribes.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:21 pm

TSLA

A crash-tested Tesla Cybertruck video has gone viral on social media, with the vehicle's wiper being dubbed as 'indestructible'. Despite the vehicle's windows and windshield showing cracks, the cabin remained relatively unscathed. Tesla CEO Elon Musk has previously claimed that the Cybertruck is bulletproof, but reports suggest that only the windows are bulletproof, not the body. The Cybertruck delivery event is scheduled for later this year.

Portfolio Pulse from Anan Ashraf

September 08, 2023 | 12:11 pm

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Senate Banking Chair Sherrod Brown is optimistic about imminent banking reform for the cannabis industry. The Secure and Fair Enforcement (SAFE) Banking Act is expected to get a committee hearing in the next six months. The Department of Health and Human Services recommended that the DEA should reclassify cannabis from Schedule I to Schedule III status, which could exempt cannabis companies from IRS Code 280E and facilitate federal tax relief. Cannabis stocks rallied following the news.

Portfolio Pulse from Jelena Martinovic

September 08, 2023 | 12:06 pm

Kroger has announced that its 2023 identical sales outlook will be negatively impacted by about 150 basis points due to the termination of its agreement with Express Scripts.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:03 pm

Kroger has announced that it expects its identical sales, excluding fuel, to be at the lower end of its guidance range and slightly negative in the second half of the year.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:02 pm