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AMLX

GRFS

WLDN

Willdan Group (WLDN) shares surged 21% after reporting better-than-expected Q4 results and issuing strong FY24 guidance, alongside securing a $30-50 million contract. Grifols (GRFS) shares rose 20%, stating recent integration has no significant financial impact. Amylyx Pharmaceuticals (AMLX) plummeted 81% as its Phase 3 trial for AMX0035 in ALS failed to meet primary or secondary endpoints.

Portfolio Pulse from ryanfaloona@benzinga.com

March 08, 2024 | 1:44 pm

SPY

UUP

The February jobs report showed a stronger-than-expected increase in non-farm payroll growth with 270,000 jobs added, surpassing the anticipated 200,000. However, the unemployment rate rose to 3.9%, and wage growth decelerated, indicating a potential easing of tight labor market conditions. The report could support the Federal Reserve in easing monetary policy later this year. Treasury yields dropped, and the U.S. dollar index fell slightly, while futures on major U.S. indices traded higher.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 1:42 pm

LMFA

LM Funding has announced a 1-for-6 reverse stock split, set to take effect on March 12. This action is typically taken by companies aiming to increase their stock price by reducing the number of shares available, potentially to meet exchange listing requirements or to improve the stock's image among investors.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:38 pm

RBT

Rubicon Technologies' shares surged following the announcement of their Q4 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:37 pm

RWAY

Runway Growth Finance's shares dropped following the announcement of disappointing Q4 financial results, missing market expectations.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:35 pm

CVNA

Carvana's stock (CVNA) experienced a rise after RBC Capital upgraded its rating from Underperform to Sector Perform and increased its price target from $45 to $90.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:34 pm

FFND

TSLA

Gary Black of Future Fund has significantly reduced the fund's Tesla, Inc. (TSLA) holdings, citing overly optimistic delivery estimates and potential for further price cuts due to high inventories. The Future Fund Active ETF (FFND) now holds 1,916 Tesla shares, decreasing Tesla's portfolio weighting from 5.07% to 2.93%. Despite a slight premarket rise, Tesla's stock has experienced notable weakness, with concerns that further declines may occur until the first-quarter deliveries report. Black suggests Tesla's issues are largely self-inflicted, emphasizing the need for better communication and marketing to boost EV adoption.

Portfolio Pulse from Shanthi Rexaline

March 08, 2024 | 1:32 pm

SPY

The Participation Rate for February was reported at 62.5%. This economic indicator reflects the percentage of the working-age population that is part of the labor force. While the article directly mentions SPY, an ETF that tracks the S&P 500, as a related asset, it does not provide specific details on how this data impacts SPY directly.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:31 pm

AKA

Truist Securities analyst Youssef Squali downgraded a.k.a. Brands Holding (NYSE:AKA) from Buy to Hold and reduced the price target from $12 to $10.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:30 pm

BURL

Burlington Stores, Inc. (NYSE:BURL) reported better-than-expected Q4 financial results, with a 14% Y/Y revenue growth to $3.126 billion and a 25% Y/Y increase in adjusted EPS to $3.69. The company's guidance for FY24 includes an adjusted EPS of $7.00-$7.60 and sales growth of 9% to 11%. Following the report, Telsey Advisory Group, Barclays, and Baird raised their price targets on BURL. Burlington shares surged 7.5% to close at $221.26.

Portfolio Pulse from Avi Kapoor

March 08, 2024 | 1:30 pm