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CHPT

ChargePoint Holdings Inc (NYSE:CHPT) reported worse-than-expected Q2 financial results, causing its shares to trade lower. The company's revenue increased 39% YoY to $150.5 million, missing the consensus estimate of $153.24 million. ChargePoint also reported a quarterly loss of 35 cents per share. The company announced a reorganization of its operations, including a 10% workforce reduction, expected to result in annual operating expense savings of $30 million. Following the results, Needham analyst Chris Pierce maintained a Buy rating for ChargePoint but lowered the price target from $13 to $9. Fox Advisors analyst Steven Fox downgraded the stock from Overweight to Equal-Weight.

Portfolio Pulse from Adam Eckert

September 07, 2023 | 1:25 pm

ROL

Rollins, Inc has priced a secondary stock offering of 38.7 million shares at $35/share, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:25 pm

SGBX

Safe & Green Holdings Corp. (NASDAQ:SGBX) has provided an update on the planned spin-off of its real estate development subsidiary, Safe & Green Development Corp (SG DevCo). Stockholders who hold SG Holdings common stock by the close of business on September 8th, 2023, will be eligible to receive a distribution of 0.932622 shares of SG DevCo for every 5 shares of SG Holdings held. The distribution remains subject to the satisfaction or waiver of the conditions described in SG DevCo's Registration Statement on Form 10, including the SEC having declared effective the Form 10 and Nasdaq having approved the listing of SG DevCo common stock.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 1:25 pm

NUE

PKX

RS

SLX

X

The US and EU are negotiating a partnership to counter China's steel surplus, potentially introducing tariffs targeting imports from China. This is part of the broader Global Arrangement on Sustainable Steel and Aluminum, which aims to settle a dispute that began when former President Trump imposed tariffs on metal imports from Europe. The VanEck Steel ETF (NYSE:SLX), which includes various sectors such as materials, metals, and mining, has shown a 35% return over the past year. Notable US steel producers include POSCO Holdings Inc. (NYSE:PKX), U.S. Steel Corp. (NYSE:X), Nucor Corp. (NYSE:NUE), and Reliance Steel & Aluminum Co. (NYSE:RS).

Portfolio Pulse from Piero Cingari

September 07, 2023 | 1:20 pm

PALI

Palisade Bio has announced a $2 million registered direct offering, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:19 pm

PWR

Quanta Services's (NYSE:PWR) short percent of float has fallen 3.53% since its last report, indicating a decrease in bearish sentiment. The company has 3.84 million shares sold short, which is 3.01% of all regular shares available for trading. Compared to its peers, Quanta Services has less short interest.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 1:15 pm

ROP

Roper Techs's (NYSE:ROP) short percent of float has risen 13.85% since its last report, with 785 thousand shares sold short, which is 0.74% of all regular shares available for trading. An increase in short interest can signal that investors have become more bearish. However, Roper Techs's peer group average for short interest as a percentage of float is 3.48%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 1:15 pm

AEP

American Electric Power's (NYSE:AEP) short percent of float has risen 31.03% since its last report, with 9.78 million shares sold short, which is 1.9% of all regular shares available for trading. This increase in short interest can signal that investors have become more bearish. However, compared to its peers, AEP has less short interest as a percentage of float, which is 2.20% on average.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 1:15 pm

HRMY

Harmony Biosciences has been granted Orphan Drug designation for Pitolisant, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:13 pm

ABM

ABM Industries reported mixed Q3 results and lowered the top end of its FY23 guidance range, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:12 pm