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Japanese bank stocks are trading lower following the Nikkei's decline after Japan's Q4 GDP revision upwards, indicating avoidance of a technical recession. This has led to increased expectations that the Bank of Japan might shift from negative interest rates.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:21 pm

Hyatt Hotels' stock trades lower following a downgrade by Morgan Stanley from Overweight to Equal-Weight, despite an increase in the price target from $149 to $156.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:16 pm

SCX

L.S. Starrett Company (NYSE:SCX) shares surged premarket after announcing a definitive merger deal with MiddleGround Capital affiliate for $16.19 per share, a 63% premium over the closing price on March 8, 2024. The transaction, expected to close in mid-2024, will make Starrett a private company, enhancing its financial and operational flexibility. SCX shares rose 59.2% to $15.79 premarket.

Portfolio Pulse from Lekha Gupta

March 11, 2024 | 1:15 pm

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Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:15 pm

BLUE

Bluebird Bio's stock is trading higher following the announcement of an outcomes-based agreement with Medicaid for its sickle cell disease gene therapy.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:14 pm

CHH

Choice Hotels International, Inc. (NYSE:CHH) announced the expiration of its exchange offer to acquire Wyndham Hotels & Resorts, Inc. (NYSE:WH) and withdrew its nomination of independent director candidates for Wyndham's 2024 Annual Meeting. Despite attempts to negotiate, including multiple offer increases, Choice will focus on its standalone strategy. Wyndham urged shareholders to support its Director nominees, citing a clear path to deliver shareholder value beyond Choice's offer. Choice also announced a share repurchase program increase by five million shares, totaling approximately 6.8 million shares authorized for repurchase. WH stock dropped 3.13% to $73.70, while CHH shares rose 6.17% to $128.50 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 11, 2024 | 1:09 pm

AVGO

Goldman Sachs analyst Toshiya Hari has maintained a Buy rating on Broadcom (NASDAQ:AVGO) and increased the price target from $1325 to $1550.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:07 pm

BILI

DUO

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In Monday's pre-market session, several Communication Services stocks showed notable movements. Fangdd Network Group (DUO) led the gainers with a 71.9% increase, while Lytus Technologies Holdings (LYT) experienced the largest drop among the losers, falling 11.1%. Other notable movers included Society Pass (SOPA), Gamer Pakistan (GPAK), and Bilibili (BILI), which recently reported Q4 earnings. On the downside, Ooma (OOMA) also reported its Q4 earnings recently and saw a 5.04% decrease.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 1:06 pm

BNED

HSAI

SVMH

In Monday's pre-market session, 12 consumer discretionary stocks showed significant movement. Notably, SRIVARU Holding, Smart Share Glb, Jiuzi Hldgs, Aterian, Choice Hotels Intl, and Hesai Gr were among the gainers, with increases ranging from 6.42% to 11.5%. On the downside, Barnes & Noble Education, EpicQuest Education Group, Koss, Jeffs Brands, ATA Creativity Glb, and Color Star Tech experienced declines between 4.91% and 18.7%. Hesai Gr's stock movement was influenced by its Q4 earnings release.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 1:06 pm

ARIS

Goldman Sachs analyst John Mackay has maintained a Buy rating on Aris Water Solutions (NYSE:ARIS) and increased the price target from $13 to $14.5.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:06 pm