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MTSI

WOLF

Benchmark analyst David Williams upgraded MACOM Technology Solutions Holdings Inc. (MTSI) to Buy from Hold, with a price target of $92. The upgrade is based on MTSI's acquisition of radio frequency business from Wolfspeed Inc (WOLF) for $125 million. The analyst expects MTSI to garner an annualized EPS accretion of about $0.58 post-full integration. Further datacenter AI opportunities for MTSI are also anticipated.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 6:13 pm

ESPR

Esperion Therapeutics Inc (NASDAQ:ESPR) announced positive results from two CLEAR Outcomes Study Late-Breakers at the European Society of Cardiology Congress 2023. The studies showed that bempedoic acid, a drug used to lower LDL-C, reduced the risk of major adverse cardiovascular events by up to 31%. The drug also demonstrated benefits in patients with diabetes and did not increase rates of new-onset diabetes. Following the announcement, ESPR shares rose by 15.90%.

Portfolio Pulse from Vandana Singh

August 28, 2023 | 6:10 pm

PLNHF

TCNNF

Planet 13 Holdings Inc. has announced a $48.9 million deal to acquire VidaCann, LLC, a move that will make it a direct competitor to Trulieve in the Florida market. The deal includes VidaCann's 26 dispensaries, a greenhouse cultivation facility, and a processing and analytical lab. Post-transaction, former VidaCann equity holders and the VC Advisor will have approximately 26.09% pro forma ownership in Planet 13.

Portfolio Pulse from Jelena Martinovic

August 28, 2023 | 6:10 pm

BBIO

BridgeBio Pharma Inc (BBIO) presented detailed results from its Phase 3 ATTRibute-CM study of acoramidis for ATTR-CM at the European Society of Cardiology Congress 2023. The results showed a highly statistically significant result, an 81% survival rate on acoramidis, and a highly statistically significant treatment effect. The company plans to submit its marketing application to the FDA before the end of 2023. Despite the positive results, BBIO shares are down 4.65% at $28.29.

Portfolio Pulse from Vandana Singh

August 28, 2023 | 6:05 pm

NVCR

ZLAB

Novocure Ltd's stock is falling after its phase 3 clinical trial of Tumor Treating Fields (TTFields) in patients with platinum-resistant ovarian cancer did not meet its primary endpoint of overall survival. The trial showed a median overall survival of 12.2 months for patients treated with TTFields therapy plus paclitaxel, versus 11.9 months for patients treated with paclitaxel alone. The company's shares are down 32.1% at $20.25.

Portfolio Pulse from Vandana Singh

August 28, 2023 | 6:03 pm

DKS

Dick's Sporting Goods Inc (DKS) shares are trading higher by 2.84% to $114.80 during Monday's session, rebounding after a fall last week due to downbeat guidance following Q2 results. Q2 sales grew 3.6% Y/Y to $3.22 billion, missing the analyst consensus of $3.23 billion. Comparable store sales increased 1.8% versus a 5.1% decline a year ago. Gross profit margin contracted 160 basis points Y/Y to 34.4% and operating income for the quarter fell 32.3% Y/Y to $311.8 million.

Portfolio Pulse from Henry Khederian

August 28, 2023 | 6:02 pm

AAL

The U.S. Department of Transportation (DOT) has fined American Airlines Group Inc (NASDAQ:AAL) $4.1 million for violating federal statutes and the department’s rule prohibiting tarmac delays of three hours or more without providing passengers an opportunity to deplane. The fine is the largest ever issued for tarmac delay violations. Despite the news, AAL shares are trading higher by 0.51% at $14.66.

Portfolio Pulse from Shivani Kumaresan

August 28, 2023 | 5:59 pm

AFRM

Affirm Holdings Inc's shares are trading lower by 2.2% to $17.40. This follows last week's strength after the company reported better-than-expected Q4 financial results and issued guidance. The company's Q4 revenue increased 22% YoY to $445.82 million, beating the consensus estimate of $406.26 million. Affirm also reported a quarterly adjusted loss of 69 cents per share, which beat analyst estimates for a loss of 85 cents per share.

Portfolio Pulse from Henry Khederian

August 28, 2023 | 5:55 pm

ADTX

ALLT

AMC

NVCR

On Monday, 102 stocks hit new 52-week lows. The largest company by market cap to set a new 52-week low was AMC Enter Hldgs (NYSE:AMC), while the smallest was Aditxt (NASDAQ:ADTX). NovoCure (NASDAQ:NVCR)'s stock traded down the lowest, falling 32.92% to reach a new 52-week low. Allot (NASDAQ:ALLT) saw the sharpest rebound, as shares ascended 0.0%, reversing after hitting a new 52-week low.

Portfolio Pulse from Benzinga Insights

August 28, 2023 | 5:54 pm

AGIL

BEEP

FFIE

GDC

HLGN

NVCR

Several stocks experienced significant movement in Monday's mid-day session. Notable gainers included Mobile Infrastructure Corporation (BEEP), GD Culture Group Limited (GDC), Hersha Hospitality Trust (HT), and Hawaiian Electric Industries, Inc. (HE). On the other hand, AgileThought, Inc. (AGIL), NovoCure Limited (NVCR), Faraday Future Intelligent Electric Inc. (FFIE), and Heliogen, Inc. (HLGN) were among the biggest losers.

Portfolio Pulse from Lisa Levin

August 28, 2023 | 5:52 pm