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Stock Prices

Morgan Stanley's stock price increased following the announcement of their Q1 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:15 pm

AAPL

Apple, Inc. (AAPL) may disappoint investors in its Q2 earnings due to lower iPhone sales and weakness in China, despite slight increases in iPad and Mac revenue, according to Needham analyst Laura Martin. Martin maintains a Buy rating with a $220 price target but has reduced fiscal year 2024 Q2 estimates, expecting a 4% year-over-year drop in sales to $90.8 billion and a 7% reduction in EPS to $1.51. The reduction reflects a 9% year-over-year drop in iPhone revenue, with iPad and Mac revenues slightly above previous estimates.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 12:14 pm

NCNA

NuCana plc (NASDAQ:NCNA) has completed a 1-for-25 ADS ratio change, effectively a reverse split, to support liquidity and comply with Nasdaq's minimum bid price requirement. The change, effective April 16, 2024, impacts all shareholders uniformly without altering their percentage equity interest, except for fractional ADS adjustments. The ADSs continue to trade under the ticker 'NCNA' on the Nasdaq Capital Market. The company aims for an increased trading price but cannot assure proportional increases or liquidity effects.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:14 pm

MCBC

WFTC

Macatawa Bank Corporation's shares surged 37% in pre-market trading following the announcement of a definitive merger agreement with Wintrust Financial Corporation, where Wintrust will acquire Macatawa in an all-stock transaction. Other stocks also showed significant movement in pre-market trading, with notable gainers including Dynatronics Corporation, Dragonfly Energy Holdings Corp., and WiSA Technologies, Inc., among others. Conversely, several companies experienced declines, such as Ryvyl Inc., Inovio Pharmaceuticals, Inc., and Calidi Biotherapeutics, Inc., due to various factors including public offerings and disappointing financial results.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 12:14 pm

META

Stifel analyst Mark Kelley maintains a Buy rating on Meta Platforms (NASDAQ:META) and raises the price target from $527 to $588, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:13 pm

GIL

Browning West, holding 5% of Gildan Activewear's shares, criticizes CEO Vince Tyra's strategy and governance, highlighting his track record of value destruction and underwhelming plans for the company. They propose electing eight new directors at the 2024 shareholder meeting to implement a value creation strategy, contrasting Tyra's approach with speculative spending and poor capital allocation. Browning West's plan aims to increase operating margins and shareholder returns, setting specific targets for share price growth.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:12 pm

IMCC

IM Cannabis Corp. (IMCC) has announced it will not complete the remaining installment payments for the 51% shares held by IMC Holdings Ltd., opting instead to return the shares to the seller. This decision is part of IMC's strategic shift to focus on the German market, especially following the legalization of cannabis in Germany on April 1st. The company aims to allocate resources to markets with the highest growth potential, notably Germany and Israel.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:10 pm

ALUR

BNED

DBGI

DUOL

FRSX

GES

GNLN

GNS

JZXN

KAVL

KXIN

YYAI

In Tuesday's pre-market session, 12 consumer discretionary stocks showed notable movements. Gainers included Connexa Sports Technologies, Kaixin Holdings, Genius Gr, Duolingo, Foresight Autonomous, and Jiuzi Hldgs, with increases ranging from 5.98% to 17.0%. Losers were led by Kaival Brands Innovations, Digital Brands Group, Guess, Allurion Technologies, Barnes & Noble Education, and Greenlane Hldgs, with declines between 6.71% and 15.9%. Market capitalizations varied significantly among these companies.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 12:07 pm

AKAN

BRTX

CGEM

DYNT

INO

In Tuesday's pre-market session, several healthcare stocks showed significant movement. Dynatronics led the gainers with an 84.9% increase, while Inovio Pharmaceuticals experienced the largest drop among the losers, falling 24.3%. Other notable movers included BioRestorative Therapies, Akanda, and Cullinan Oncology with substantial gains, and Calidi Biotherapeutics, Dermata Therapeutics, and Addex Therapeutics among the biggest losers.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 12:07 pm

AGFY

DFLI

SKIL

In Tuesday's pre-market session, several industrials stocks showed significant movement. Dragonfly Energy Holdings (DFLI) and Agrify (AGFY) reported Q4 earnings, leading to a 56.0% increase in DFLI's stock to $0.7 and an 8.69% rise in AGFY's stock to $0.32. Markforged Holding (MKFG), Enovix (ENVX), noco-noco (NCNC), and Castor Maritime (CTRM) also saw gains. Conversely, Skillsoft (SKIL) reported Q4 earnings, resulting in a 19.6% decrease in its stock to $7.4. Complete Solaria (CSLR), Flux Power Holdings (FLUX), Lennox Intl (LII), Erayak Power Solution Gr (RAYA), and NN (NNBR) experienced declines.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 12:07 pm