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JPM

Goldman Sachs Group Inc. (GS) reported a Q1 2024 revenue of $14.21 billion, surpassing the $12.92 billion consensus, with a 28% profit increase to $4.13 billion. This growth was driven by a 32% increase in investment banking fees and strong performance in Global Banking & Markets, Asset & Wealth Management, and FICC. Unlike its peers JPMorgan Chase & Co (JPM) and Citigroup Inc (C), which also reported strong results, Goldman Sachs primarily relies on Wall Street activities, benefiting from market booms. GS shares rose 4.04% in premarket trading.

Portfolio Pulse from Vandana Singh

April 15, 2024 | 12:43 pm

USAU

U.S. Gold Corp. (USAU) has announced a registered direct offering and concurrent private placement of shares and warrants, aiming to raise approximately $4.9 million. The offering includes 1,400,000 shares at $3.50 each and warrants for an additional 1,400,000 shares at $4.48 each. The closing is expected around April 19, 2024, with common stock offered under a previously filed SEC registration statement.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:42 pm

UUP

Retail sales in March 2024 rose by 4% year-over-year and 0.7% month-over-month, surpassing expectations and indicating strong consumer spending despite inflation. Nonstore retailers and gas stations saw the largest increases, while sporting goods and clothing stores experienced declines. The S&P 500 futures rose 0.8% in premarket trading, and the Invesco DB USD Index Bullish Fund ETF (UUP) gained following the report, amidst rising Treasury yields.

Portfolio Pulse from Piero Cingari

April 15, 2024 | 12:42 pm

CRMD

CorMedix has announced the U.S. inpatient commercial availability of DefenCath, marking a significant milestone for the company. This development could potentially boost CorMedix's market presence and financial performance by expanding the accessibility of DefenCath to a broader patient base in the inpatient setting.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:40 pm

CDNS

CHTR

CNC

CSCO

JPM

LMT

MASI

NTBL

PVH

VERU

Wall Street analysts have updated their price targets and ratings for several US-listed companies, including Centene Corporation, Veru Inc., JPMorgan Chase & Co., Notable Labs, Ltd., Charter Communications, Inc., PVH Corp., Cisco Systems, Inc., Masimo Corporation, Cadence Design Systems, Inc., and Lockheed Martin Corporation. These updates include both upgrades and downgrades, with specific changes to price targets and stock ratings.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 12:39 pm

AVDX

AvidXchange shares dropped following a downgrade by Goldman Sachs from Neutral to Sell, with a reduced price target from $13 to $11.5.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:38 pm

DJT

Trump Media & Technology Group Corp has filed with the SEC to allow selling securityholders to sell up to 146.1 million shares of common stock from time to time.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:38 pm

RARE

Ultragenyx shares are trading lower following the announcement of interim Phase 1/2 data for GTX-102 in patients with Angelman Syndrome, indicating potentially disappointing results.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:36 pm

IAT

KRE

MTB

M&T Bank Corporation (NYSE:MTB) shares rose after reporting Q1 FY24 results, with revenue of $2.260 billion slightly missing consensus and net income down to $531 million from $702 million Y/Y. The bank saw a decrease in net interest income and margin, an increase in provision for credit losses, and a higher efficiency ratio. Despite these challenges, M&T's CFO highlighted a solid start to 2024, with growth in certain loan sectors and a strong liquidity and capital position. Investors can also gain exposure to M&T Bank through IShares U.S. Regional Banks ETF (NYSE:IAT) and SPDR S&P Regional Banking ETF (NYSE:KRE).

Portfolio Pulse from Lekha Gupta

April 15, 2024 | 12:35 pm

SPTN

SpartanNash (NASDAQ:SPTN) announced the acquisition of Metcalfe's Market, a Wisconsin-based three-store grocery chain. The deal, expected to close in spring 2024, aims to preserve Metcalfe's branding and employee positions, while expanding SpartanNash's footprint in Wisconsin to seven stores. Metcalfe's Market, known for its focus on premium quality foods and local products, will join SpartanNash's portfolio, enhancing its offerings with SpartanNash's private label products and loyalty programs. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:33 pm