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CTAS

Truist Securities analyst Jasper Bibb has reaffirmed a Buy rating on Cintas (NASDAQ:CTAS) and increased the price target from $625 to $645.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:43 pm

CTAS

JP Morgan analyst Andrew Steinerman has maintained an Overweight rating on Cintas (NASDAQ:CTAS) and increased the price target from $540 to $640.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:41 pm

ALVR

BMY

CYCC

KRTX

NCPL

NXTP

RMCO

U.S. stocks opened higher with the Dow Jones gaining over 50 points. Energy shares led gains, while consumer discretionary shares declined. Core PCE inflation in the U.S. cooled to 3.2% year-on-year in November, below expectations. Karuna Therapeutics (KRTX) surged 47% after Bristol Myers Squibb (BMY) agreed to acquire it for $14.0 billion. Royalty Management Holding (RMCO) and NextPlay Technologies (NXTP) also saw significant gains. AlloVir (ALVR), Cyclacel Pharmaceuticals (CYCC), and Netcapital (NCPL) traded down after various updates, including clinical trial results and public offering pricing.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 2:40 pm

BRID

PRDO

The article provides an overview of notable value stocks in the consumer defensive sector, highlighting companies with low P/E ratios. Bunge Global (BG), Bridgford Foods (BRID), iHuman (IH), Perdoceo Education (PRDO), and Altria Group (MO) are identified as value stocks. The article includes recent financial performance such as earnings per share and dividend yields, noting changes from previous quarters. It also cautions that value stocks may take time to rebound and there's a risk they may not.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 2:40 pm

SCRM

Lionsgate is merging its Studio Business with Screaming Eagle Acquisition Corp (SCRM) to create Lionsgate Studios Corp, valued at $4.6 billion. Lionsgate will retain 87.3% ownership, while Screaming Eagle shareholders will own 12.7%. The deal excludes STARZ and is expected to generate $350 million for Lionsgate, aiding in the acquisition of eOne. The transaction is set to close in spring 2024, pending approvals. SCRM shares saw a slight increase of 0.66% to $10.63.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 2:39 pm

ALB

LXU

METCB

ORGN

The article lists 5 value stocks in the Basic Materials sector based on low P/E ratios, indicating potential undervaluation. ArcelorMittal (MT) saw a decrease in EPS and an increase in dividend yield. LSB Industries (LXU) experienced a decrease in EPS. Origin Mat (ORGN) reported a significant increase in EPS. Ramaco Resources (METCB) had an increase in EPS but a decrease in dividend yield. Albemarle (ALB) saw a decrease in EPS but an increase in dividend yield. The article cautions that value stocks may take time to rebound and may not do so.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 2:38 pm

CMI

Cummins Inc (NYSE:CMI) shares dropped after the company agreed to a $1.675 billion settlement over U.S. regulatory claims of emissions certification violations for certain pick-up truck engines. Cummins allegedly installed defeat devices on 630,000 engines from model years 2013 to 2019 and undisclosed auxiliary emission control devices on 330,000 engines from model years 2019 to 2023. The company will record a charge of approximately $2.04 billion in Q4 FY23 and plans to pay about $1.93 billion in H1 FY24. Cummins' stock price fell 2.56% to $237.76.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 2:37 pm

MSAI

Shares of Infrared Cameras Holdings were halted due to a circuit breaker after surging 19.6%. The halt is a mechanism to prevent excessive volatility in the stock market.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:36 pm

CYCC

Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) shares dropped 26.9% after announcing a registered direct offering of 388,200 shares at $3.315 each, and a concurrent private placement to management. Warrants are also being issued, exercisable at $3.19 for seven years. Ladenburg Thalmann & Co. Inc. is managing the offering, which aims to raise about $1.3 million for general corporate purposes. The offering is expected to close on December 26, subject to standard conditions.

Portfolio Pulse from Henry Khederian

December 22, 2023 | 2:36 pm

NTES

TCEHY

NetEase, Inc (NASDAQ:NTES) and Tencent Holdings Ltd (OTC:TCEHY) stocks plummeted after Chinese regulators introduced new regulations targeting the video gaming industry. These rules set spending limits and prohibit certain in-game incentives, erasing nearly $80 billion in market value from China's top gaming companies. Tencent's shares dropped up to 16%, while NetEase's fell by up to 25%. Prosus, a stakeholder in Tencent, also saw a 14.2% decline in its shares. The regulations aim to reduce excessive gaming and protect minors, with new rules on spending limits and a ban on features like lucky draws for minors. Despite the regulatory challenges, China's video game market grew by 13% in domestic revenue to 303 billion yuan ($42.6 billion) this year.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 2:34 pm