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PZZA

Papa John's International, Inc. (NASDAQ:PZZA) shares rose after reporting Q4 adjusted earnings per share of 91 cents, surpassing expectations of 72 cents. However, net sales of $571.32 million fell short of the $577.86 million forecast. Revenues increased by 9% year over year, with North America sales up 2% and International sales down 6%. The company saw 89 net unit openings and reported a 17.5% increase in operating income to $42.6 million. Global system-wide restaurant sales grew by 11% to $1.34 billion, excluding foreign currency impacts. PZZA shares increased by 6.74% to $74.88.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 4:27 pm

BKKT

ICE

Bakkt Holdings Inc (NYSE:BKKT) shares fell 34% to $0.67 after announcing two securities purchase agreements. The first involves selling 46,136,102 shares at $0.8670 per share to institutional investors, and the second, a sale of up to 11,534,025 shares at the same price to an affiliate of Intercontinental Exchange, Inc. (ICE). The offerings are expected to generate approximately $42.4 million for working capital and general corporate purposes. Bakkt operates a platform for Bitcoin and other digital assets.

Portfolio Pulse from Henry Khederian

February 29, 2024 | 4:18 pm

RDFN

Gordon Haskett analyst Robert Mollins downgraded Redfin (NASDAQ:RDFN) from Hold to Underperform and set a price target of $5.5.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:18 pm

CVS

Benzinga's options scanner revealed significant trading activity in CVS Health (NYSE:CVS), with a mix of bullish and bearish sentiments among big-money investors. The detected options trades suggest a price target range of $70.0 to $80.0 for CVS over the next three months. The trading activity includes 8 uncommon options trades, with 6 puts totaling $303,288 and 2 calls totaling $93,600. CVS Health's current market status shows a slight increase in stock price to $75.65, with neutral RSI readings and an anticipated earnings release in 62 days. Analysts have provided an average target price of $86.33, with varying ratings from Outperform to Overweight.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:17 pm

RIOT

Riot Platforms (NASDAQ:RIOT), a Bitcoin mining company, has seen a significant bearish sentiment in its options trading, with 66% of trades showing bearish tendencies. The trading activity focuses on a price band between $10.0 and $22.0. Recent options trades include both bullish and bearish positions, with notable trades in calls and puts. The company's stock price is currently up 0.13% at $15.67, with RSI indicators suggesting it may be approaching overbought territory. Analysts have given RIOT an average target price of $19.25, with ratings ranging from Buy to Overweight.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:17 pm

PRST

Presto Automation Inc (NASDAQ:PRST) shares dropped 24% to $0.30 after announcing a securities purchase agreement to sell 8,533,000 shares at $0.25 each. The offering, managed by Chardan and Spartan as joint placement agents, aims to raise approximately $2.1 million for working capital and general corporate purposes, with a closing date around March 4.

Portfolio Pulse from Henry Khederian

February 29, 2024 | 4:17 pm

ENVB

Enveric Biosciences, Inc. (NASDAQ:ENVB) shares surged after announcing three non-binding term sheets with an undisclosed biotech company for out-licensing compounds, potentially earning up to $200 million plus royalties. The deals are contingent on IND approvals and successful Phase I-III testing. CEO Joseph Tucker highlighted the potential revenue and value creation from Enveric's discovery platforms. Additionally, ENVB has an average 1-year price target of $10, indicating a significant upside.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 4:16 pm

GDRX

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares surged after reporting Q4 FY23 results with revenue and adjusted revenue up 7% Y/Y to $196.6 million, surpassing estimates. Prescription transactions revenue increased 11% to $143.9 million, driven by an 8% rise in Monthly Active Consumers. Adjusted EBITDA and EPS also beat expectations. The company announced a new stock repurchase program worth $450 million and provided FY24 revenue guidance above consensus.

Portfolio Pulse from Lekha Gupta

February 29, 2024 | 4:16 pm

PSCD

SIX

Six Flags Entertainment Corp (NYSE:SIX) reported a 5% year-on-year sales growth for Q4 fiscal 2023, reaching $293 million, which missed the analyst consensus of $297.5 million. The adjusted EPS was 18 cents, below the consensus of 27 cents. Attendance increased by 6% Y/Y to 4.3 million guests, but total guest spending per capita decreased by 1% Y/Y to $64.19. Operating income and margin significantly declined Y/Y, while adjusted EBITDA remained nearly flat. The company noted early success in sales of 2024 passes, which are ahead of last year. Invesco S&P SmallCap Consumer Discretionary ETF (NASDAQ:PSCD), with 1% exposure to SIX, gained close to 6% last month. SIX shares traded higher by 4.07% at $25.60 premarket.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 4:14 pm

FA

First Advantage's stock is trading lower due to disappointing Q4 results and weak 2024 guidance. Additionally, the company plans to acquire Sterling Check for $2.2 billion in a cash and stock deal.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:10 pm