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NVOS

Novo Integrated Sciences shares surged following a report of increased Q2 revenue year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:25 pm

BK

The Bank Of New York Mellon Corporation (NYSE:BK) reported Q1 earnings with an EPS of $1.29, surpassing the expected $1.19, and revenue of $4.527 billion, exceeding forecasts of $4.388 billion. Despite an 8% decrease in net interest income, total fee revenue grew by 5% year over year. The company also declared a quarterly dividend of $0.42 per share, payable on May 9, 2024. Shares rose 2% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

April 16, 2024 | 12:20 pm

SNX

UBS analyst David Vogt upgraded TD Synnex (NYSE:SNX) from Neutral to Buy and increased the price target from $115 to $145, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:18 pm

MS

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