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SRZN

Surrozen Inc (NASDAQ:SRZN) announced a private placement for common stock and warrants, aiming to raise approximately $192.5 million if all warrants are exercised. The initial proceeds of about $17.5 million will support the SZN-043 clinical development for severe alcohol-associated hepatitis and other purposes. The funds, along with existing cash, are expected to cover expenses through the first half of 2025. Surrozen also updated on the Phase 1a trial of SZN-043, showing safety and potential efficacy. SRZN shares dropped 27.1% to $11.00.

Portfolio Pulse from Vandana Singh

April 01, 2024 | 5:14 pm

BYDDY

TSLA

BYD Co. Ltd. reported a year-over-year increase in Q1 BEV sales but saw a decline from the previous quarter. Despite this, Tesla, Inc. is expected to report a year-over-year drop in deliveries for the first time since COVID-19, potentially allowing BYD to maintain its lead as the world's biggest battery EV manufacturer. Tesla's Q1 delivery estimates are lower than consensus, amid slowing EV adoption and intense competition.

Portfolio Pulse from Shanthi Rexaline

April 01, 2024 | 5:10 pm

AEON

AEON Biopharma shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 5:09 pm

EDBL

Edible Garden's shares surged following the announcement of an increase in its Q4 EPS results compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 5:07 pm

ALK

BA

UAL

United Airlines Holdings Inc (NASDAQ:UAL) is urging pilots to take unpaid leave due to delays in aircraft deliveries from Boeing Company (NYSE:BA), impacting United's expansion plans. The delays are attributed to Boeing's production and certification issues, affecting United's 2024 forecast block hours. The situation has led to adjustments in United's expected deliveries from Boeing and has been a concern for United's CEO Scott Kirby. Boeing's CEO Dave Calhoun announced his departure amid these challenges. United Airlines' stock saw a slight increase of 0.46% to $48.10.

Portfolio Pulse from Shivani Kumaresan

April 01, 2024 | 5:06 pm

GWAV

Greenwave Technology Solutions' shares surged following the announcement of regaining compliance with the Nasdaq Shareholder Equity Requirement and a $14.87 million increase in shareholder's equity, achieved through an Exchange Agreement with DWM Properties.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 5:06 pm

DOMA

IREN

MESO

MU

U.S. stocks were lower, with the Dow Jones falling around 250 points on Monday. However, several stocks recorded gains, led by Micron Technology, Inc. (MU) which rose 6.6% after B of A Securities maintained a Buy rating and raised its price target. Other notable movers include Doma Holdings Inc. (DOMA), Mesoblast Limited (MESO), and Iris Energy Limited (IREN), among others, due to various positive developments such as merger transactions, FDA updates, and analyst ratings.

Portfolio Pulse from Avi Kapoor

April 01, 2024 | 5:02 pm

IREN

Iris Energy Limited (NASDAQ:IREN) shares are trading higher after announcing its 2024 expansion is fully funded with $301 million in cash and no debt. The company plans to have 460 MW of data center capacity and 20 EH/s of Bitcoin mining capacity by 2024. Analysts from Cantor Fitzgerald and Canaccord Genuity have reiterated their positive ratings on the stock, with price targets of $10 and $9, respectively. The stock has seen a 101% increase over the past year, with a 5.09% rise in the last month.

Portfolio Pulse from Erica Kollmann

April 01, 2024 | 5:01 pm

ASO

19 analysts have provided diverse opinions on Academy Sports (NASDAQ:ASO) over the past quarter, with a mix of bullish to bearish sentiments. The recent ratings show a shift towards a more bullish outlook, with an average 12-month price target of $79.11, up from $73.56. Analysts' actions range from maintaining to raising and lowering their price targets, reflecting their reaction to the company's performance and market conditions. Academy Sports has shown strong financial performance with a revenue growth rate of 2.77%, a net margin of 9.37%, and an ROE of 8.97%, outperforming industry averages.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 5:01 pm

EWBC

Eight analysts have recently updated their ratings and price targets for East West Bancorp (NASDAQ:EWBC), showing a mix of bullish and somewhat bullish opinions. The average 12-month price target has been raised to $88.88, up from $81.67, with a high estimate of $106.00 and a low of $76.00. Analyst actions include both upgrades and maintenance of ratings, reflecting a positive outlook on the company's performance despite a slight decline in revenue growth and a high debt-to-equity ratio. East West Bancorp's strong market presence, especially in the U.S. and China, along with its focus on commercial deposits and entertainment partnerships, supports its financial health as indicated by its net margin and ROE.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 5:01 pm