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GELYY

PSNY

Polestar Automotive Holding UK Limited (NASDAQ:PSNY) is expanding production outside China due to tariff concerns and geopolitical tensions. CEO Thomas Ingenlath plans to increase exports of the Polestar 3 from South Carolina to the EU. This move comes as Chinese EV companies face scrutiny in Europe and the U.S. over state subsidies. After a major ownership restructuring, with Geely Automobile Holding (OTC:GELYY) and a private firm now holding a 69% stake, Polestar aims for a global sales distribution targeting 155,000 to 165,000 cars by 2025. PSNY shares dropped 3.94% to $1.23.

Portfolio Pulse from Shivani Kumaresan

April 24, 2024 | 5:31 pm

ACNB

ACNB Corporation (NASDAQ:ACNB) announced an increase in its quarterly cash dividend from $0.30 to $0.32 per share, payable on June 14, 2024. This marks a 14.2% increase from the second quarter of 2023 and a 6.6% increase from the first quarter of 2024. The total dividend payments for the second quarter of 2024 will amount to approximately $2.72 million. This decision reflects the company's strong financial position and confidence in future growth, marking the second increase in less than a year and the fourth consecutive year of dividend growth.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:30 pm

BX

Concord is reportedly planning to increase its bid for Hipgnosis to approximately $1.25 per share, aiming to surpass a competing offer from Blackstone (BX), according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:27 pm

MAT

Mattel, Inc. (NASDAQ:MAT) shares rose after reporting Q1 adjusted earnings per share that exceeded expectations, despite sales missing estimates. The company's North America segment saw a slight increase in gross billings, driven by growth in certain categories. Full-year earnings guidance was provided, aligning closely with analyst expectations. Analysts from DA Davidson and Roth MKM have updated their ratings and price targets for Mattel.

Portfolio Pulse from Erica Kollmann

April 24, 2024 | 5:26 pm

BHP

GLNCY

HZMMF

Indonesia, under its new president Prabowo Subianto, is expected to continue its dominant nickel production policies, impacting global nickel prices and competitors. The country's approach has led to a price slump, affecting financing and operations of nickel projects worldwide, including those by Horizonte Minerals Plc, BHP Group Ltd., and Glencore. Indonesia's strategy of adding value domestically and attracting investments for an electric vehicle battery supply chain is likely to keep global markets flooded with cheap nickel.

Portfolio Pulse from Matt Whittaker

April 24, 2024 | 5:25 pm

HCP

IBM

HashiCorp's stock price increased after a report indicated that IBM is considering an acquisition offer of approximately $35 per share for the company.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:20 pm

KKR

TIAIY

KKR & Co. Inc. (NYSE:KKR) shares fell due to concerns from EU antitrust regulators about its planned purchase of Telecom Italia's (OTC:TIAIY) fixed-line network, which could affect Italy's wholesale market. The deal, valued at 22 billion euros, faces scrutiny that may require KKR to offer significant remedies amid fears of potential price increases post-deal. The acquisition is part of a government-backed initiative to reduce debt and revitalize Telecom Italia.

Portfolio Pulse from Nabaparna Bhattacharya

April 24, 2024 | 5:19 pm

MRVL

Marvell Tech's (NYSE:MRVL) short interest has decreased by 14.13% since the last report, with 17.81 million shares sold short, representing 2.43% of its float. The current short interest suggests a bullish sentiment as it is lower than the peer group average of 4.37%. The decrease in short interest indicates fewer traders are betting against the stock, which could be a positive sign for its short-term price movement.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 5:15 pm

ADC

Agree Realty (NYSE:ADC) has seen a 9.26% increase in its short percent of float since the last report, with 4.32 million shares sold short, representing 6.37% of available shares. It would take about 5.41 days to cover all short positions. This rise in short interest indicates a more bearish market sentiment towards ADC, although it's higher than its peer group average of 5.14% short interest as a percentage of float.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 5:15 pm

KKR

KKR has decided to halt the $10 billion sale of Upfield after negotiations with ADQ failed. The company is now considering an IPO or selling a minority stake as alternatives, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:15 pm