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FOUR

MA

V

Shift4 Payments, Inc (NYSE:FOUR) reported a 29% year-on-year growth in fiscal Q1 2024 gross revenue to $707.4 million, missing analyst estimates of $755.6 million. Adjusted EPS was 54 cents, below the consensus of 62 cents. Payments-based revenue and subscription revenue saw significant increases. The company also saw a 50% increase in end-to-end payment volume and a 36% increase in adjusted EBITDA. Despite missing Q1 expectations, Shift4 reiterated its FY24 outlook, expecting significant growth in revenue and EBITDA. The company's stock rose 3.59% following the announcement. Analysts had previously anticipated Shift4 to benefit from a major settlement involving Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA).

Portfolio Pulse from Anusuya Lahiri

May 09, 2024 | 3:39 pm

GPATU

GP-Act III Acquisition Corp Units, symbolized as GPATU, have commenced trading. This event marks a significant milestone for the company as it becomes publicly available for investment.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:39 pm

EQIX

NOW

SRHR

SRVR

Equinix, Inc. (NASDAQ:EQIX) shares rose after reporting Q1 FY24 results with a 6% Y/Y revenue increase to $2.13 billion, slightly missing consensus. Adjusted EBITDA and FFO per share exceeded expectations. The company declared a quarterly dividend of $4.26, has 50 major projects underway, and sees AI as a growth catalyst. Equinix provided a lower FY24 revenue outlook than previously but remains optimistic. ServiceNow, Inc. (NYSE:NOW) expanded its strategic relationship with Equinix. Exposure to Equinix stock is also possible through Pacer Data & Infrastructure Real Estate ETF (NYSE:SRVR) and Elevation Series Trust SRH REIT Covered Call ETF (NYSE:SRHR). EQIX shares are up 11.6%.

Portfolio Pulse from Lekha Gupta

May 09, 2024 | 3:36 pm

PAL

Proficient Auto Logistics (PAL) has commenced trading with its IPO priced at $15 per share, offering 14.33 million shares to the public. This marks the company's debut on the stock market, potentially attracting investor interest in the automotive logistics sector.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:34 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) reported strong Q1 financial results, surpassing analysts' expectations with significant transaction revenue, particularly in cryptocurrency trading. Analysts from Piper Sandler, KeyBanc, Goldman Sachs, Needham, JPMorgan, Mizuho, and JMP Securities provided updates on their ratings and price targets, reflecting optimism about the company's performance and future prospects. Despite some caution regarding the sustainability of the current trading volumes and interest rates, the consensus views Robinhood's early Q2 indicators and April's record net deposits positively. Analysts are particularly encouraged by the platform's growth in crypto volumes, options activity, and overall user engagement.

Portfolio Pulse from Chris Katje

May 09, 2024 | 3:25 pm

HIMX

Himax Technologies, Inc (NASDAQ:HIMX) reported a fiscal Q1 revenue decline of 15.0% Y/Y to $207.55 million, surpassing analyst estimates. Earnings per ADS were $0.07, exceeding expectations. The company sees Q1 as the low point, with sales expected to pick up in Q2, especially in the automotive sector, and anticipates growth due to the expanding automotive display market. HIMX expects Q2 net revenues to grow 8.0%-13.0% sequentially with a projected gross margin of 31.5%-33.5%. Shares rose 10% to $5.74.

Portfolio Pulse from Anusuya Lahiri

May 09, 2024 | 3:20 pm

GPATU

GP-Act III Acquisition Corp has initiated its IPO, with units priced at $10.07 each, totaling an offering of 376,000 units. This move marks the company's entry into the public market, potentially attracting investors interested in the acquisition sector.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:17 pm

TAOP

Taoping Inc. shares are experiencing an uptick following the announcement of the launch of a new AI-powered smart terminal.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:17 pm

SHOP

Shopify Inc (NYSE:SHOP) shares fell after Q1 results, despite upgrades and mixed analyst commentary. Concerns over profitability and guidance for increased operating expenses overshadowed revenue and GMV beats. Analysts adjusted price targets and ratings, highlighting investment in marketing and new merchant contributions as key factors.

Portfolio Pulse from Priya Nigam

May 09, 2024 | 3:17 pm

FCX

Recent options trading activity for Freeport-McMoRan (NYSE:FCX) shows a bullish trend among investors, with a significant volume of calls over puts indicating expectations of a price range between $36.0 to $60.0. The company, a major international mining firm, has seen its stock price increase by 1.82% to $50.87. Analysts have set an average price target of $52.8, with ratings ranging from Neutral to Buy. The next earnings report is expected in 70 days.

Portfolio Pulse from Benzinga Insights

May 09, 2024 | 3:17 pm