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Stock Prices

EWCZ

Piper Sandler analyst Korinne Wolfmeyer has maintained an Overweight rating on European Wax Center (EWCZ) and increased the price target from $18 to $20. This suggests a positive outlook on the company's stock performance.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:41 pm

CHK

SWN

Southwestern Energy Co (SWN) shares have fallen after announcing a merger with Chesapeake Energy Corp (CHK). The all-stock deal values SWN at $7.4 billion, or $6.69 per share, with SWN shareholders receiving 0.0867 CHK shares per SWN share. Post-merger, CHK and SWN shareholders will own 60% and 40% of the new entity, respectively. The combined company will have an enterprise value of $24 billion, a net production of 7.9 Bcfe/d, and expects $400 million in annual synergies. The merger is set to close in Q2 2024, with Nick Dell'Osso as CEO. SWN's stock dropped 2.25%, while CHK's rose 3.27%.

Portfolio Pulse from Lekha Gupta

January 11, 2024 | 2:40 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) has completed a new light-weight service truck body for the All-Electric Mullen THREE, in collaboration with Phenix Truck & Van and Knapheide. The vehicle is designed for Class 3 service body truck fleets used by municipalities and public utilities. The Mullen THREE offers a 125-mile range, a 1.5-hour Level 3 DC charge time, and a payload over 5,800 lbs. It is now on display at CES 2024 and will be featured at upcoming industry expos. The partnership aims to cater to the needs of entities transitioning to electric vehicles, particularly in states with incentives for such a switch.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:39 pm

CPE

DHT

FRO

GPRK

Benzinga Insights identifies value stocks in the energy sector with low P/E ratios, including GeoPark, Antero Resources, Callon Petroleum, DHT Holdings, and Frontline. The article provides recent earnings per share data and dividend yield changes for these companies, noting that while they may be undervalued, there is a risk that they may not rebound.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 2:39 pm

HTZ

TSLA

Hertz Global Holdings Inc. is selling a third of its US electric vehicle fleet, amounting to 20,000 EVs, and shifting back to gas-powered cars. This decision is driven by weak demand and high repair costs for EVs. The sales started last month and will extend into 2024. Hertz will take a non-cash charge of approximately $245 million in Q4 for net depreciation expense. This move is a reversal from their 2021 announcement to purchase 100,000 Tesla vehicles.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:38 pm

AKTUSD

BTCUSD

ENSUSD

ETHUSD

Bitcoin (BTC) surpassed the $47,000 mark after the SEC approved Bitcoin ETFs, while Ethereum (ETH) also saw a rise, trading above $2,600. Ethereum Name Service (ENS) was the top gainer with a 55% increase, and Akash Network (AKT) was the biggest loser with a 1.3% drop. The global crypto market cap experienced a slight decline of 0.3%.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 2:35 pm

NIO

NIO Inc (NYSE:NIO) shares are rising after reports of new strategic battery swap agreements with Anhui Province Energy Group, Anhui Transportation Holding Group, and others. These agreements aim to build a shared energy storage, charging, and battery swap system, including 1,000 charging and battery swap stations. Nio also plans to start constructing a new shared battery swap network this year, following the unveiling of its fourth-generation battery swap stations at its Nio Day event.

Portfolio Pulse from Adam Eckert

January 11, 2024 | 2:35 pm

AXP

Over the past 15 years, American Express (NYSE:AXP) has produced an average annual return of 17.2%, outperforming the market by 5.03% on an annualized basis. A $1000 investment in AXP 15 years ago would be worth $10,624.71 today. The company currently has a market capitalization of $134.10 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 2:30 pm

CDW

Over the past 10 years, CDW (NASDAQ:CDW) has produced an average annual return of 24.58%, outperforming the market. A $100 investment in CDW a decade ago would be worth $899.84 today. CDW's market cap stands at $29.51 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 2:30 pm

CMND

Clearmind Medicine Inc. (CMND) has announced a registered direct and private placement offering to raise approximately $2.4 million. The offering includes the sale of 1,500,000 Common Units or Pre-Funded Units, each comprising one Common Share or Pre-Funded Warrant, and one PIPE Common Warrant, with an exercise price of $1.60. The proceeds are intended for general corporate purposes and working capital. Aegis Capital Corp. is the Exclusive Placement Agent, and various legal firms are providing counsel. The offering is not available to Canadians and is expected to close around January 16, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:29 pm