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HMST

HomeStreet, Inc. (HMST) stock is trading higher following the announcement of a definitive merger agreement with FirstSun Capital Bancorp.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:55 pm

WDC

Barclays analyst Tom O'Malley has upgraded Western Digital (NASDAQ:WDC) from Equal-Weight to Overweight and increased the price target from $45 to $65, indicating a more bullish outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:54 pm

PCT

PureCycle Technologies' stock is on the rise following their announcement of significant production achievements at their Ironton facility. The company reported producing 183,000 pounds of pellets in the last two weeks, matching their Q4 2023 output. This production included six different days with outputs ranging from 10,000 to 72,000 pounds, all from post-consumer recycled material.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:54 pm

PCT

PureCycle Technologies, Inc. (NASDAQ:PCT) provided an update on its Ironton purification facility, reporting significant production progress. The facility produced 183,000 pounds of pellets in the last two weeks, matching Q4 2023's output. Improvements made after a December mechanical failure have enhanced operations. The company is focusing on optimizing the co-product recovery system and has adjusted feedstocks to improve run rates. PureCycle's finished product is in demand despite color variations, and the company plans to host an 'Ironton Showcase Day' on March 7 for investors.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:52 pm

AXP

Accel-KKR, a private equity firm, has agreed to acquire Accertify from American Express (NYSE:AXP). Accertify is a provider of fraud prevention and other financial security services, serving top online retailers and global airlines. The acquisition will allow Accertify to operate as an independent entity, focusing on growth and product innovation in the fraud prevention market. The global fraud detection and prevention market is projected to grow significantly, from $44.0 billion in 2023 to $182.7 billion by 2030. The terms of the acquisition were not disclosed. American Express was advised by Barclays and Cleary Gottlieb Steen & Hamilton LLP, while Accel-KKR was advised by Kirkland & Ellis LLP.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:48 pm

COHR

Barclays analyst Tom O'Malley has upgraded Coherent (NYSE:COHR) from Equal-Weight to Overweight and increased the price target from $38 to $60, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:48 pm

ACRS

Aclaris Therapeutics Inc (NASDAQ:ACRS) is experiencing a rise in stock price following the announcement of leadership changes and a strategic review of its business. Douglas Manion has stepped down as CEO, President, and Board Member, with Neal Walker, co-founder and former CEO, appointed as Interim CEO. Aclaris is also seeking a partner for its ATI-1777 drug and assessing the pathway for ATI-2138. The company reported having approximately $182 million in cash and marketable securities as of December 31, 2023. Aclaris' shares were up 25% at $1.16.

Portfolio Pulse from Vandana Singh

January 16, 2024 | 4:47 pm

DATS

DatChat shares have seen an increase following the announcement of a proposed spin-off of its Habytat platform business. This strategic move could potentially unlock value for shareholders by allowing the company to focus on its core competencies while giving Habytat the opportunity to grow independently.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:47 pm

CAMT

Barclays analyst Blayne Curtis has upgraded Camtek (NASDAQ:CAMT) from Equal-Weight to Overweight and increased the price target from $65 to $82, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:46 pm

QSR

TAST

Restaurant Brands International Inc (QSR) is set to acquire Carrols Restaurant Group Inc (TAST) for $1 billion, or $9.55 per share, a 23.1% premium over Carrols' recent average price. The deal is part of Burger King's 'Reclaim the Flame' initiative aimed at boosting sales and franchisee profitability. Burger King, owned by Restaurant Brands, will invest $500 million to remodel 600 Carrols' Burger King restaurants and plans to re-franchise them within 5-7 years. The transaction is expected to close in Q2 2024. Following the news, QSR shares dropped by 3.21%, while TAST shares rose by 13%.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 4:46 pm