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VSTO

Vista Outdoor Inc. (VSTO) has announced a significant step in its strategic plan with the SEC's approval of Revelyst's registration statement for the sale of The Kinetic Group to Czechoslovak Group (CSG). This move is aimed at unlocking stockholder value by separating its segments into standalone companies. A special meeting for stockholder approval is set for May 16, 2024. The transaction is expected to enhance long-term growth for both Revelyst and The Kinetic Group, with Revelyst anticipating $100 million in cost savings by FY2027.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:28 pm

ARKG

ARKK

ARKQ

BTCUSD

ARK Investment Management LLC predicts five disruptive technologies (AI, Energy Storage, Robotics, Multiomics, and Public Blockchains) could reach a market value of $220 trillion by 2030. These technologies are expected to drive significant economic growth and productivity. ARK's ETFs, ARKK, ARKQ, and ARKG, track the progress in AI, Robotics, and Genomics, respectively. The report also highlights the potential of cryptocurrencies, especially Bitcoin, to stabilize renewable energy grids and compete with fiat currencies.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 1:26 pm

DKNG

RSI

Rush Street Interactive Inc (RSI), a Chicago-based online betting firm, is exploring strategic options, including a potential sale, and has contacted DraftKings Inc (DKNG) among other potential buyers. Despite a 17% revenue increase to $691 million last year, RSI remains a minor player in the online sports betting market. DraftKings, known for engaging with various entities, has not commented on specifics. The online betting sector has seen exits and sales, highlighting the competitive landscape.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 1:25 pm

SINT

SINTX Technologies Inc (NASDAQ:SINT) shares plummeted by 34% to $0.09 after announcing plans for a public offering of its common stock. The offering is solely by SINTX, aimed at raising funds for general corporate purposes and working capital. The offering's completion, size, and terms depend on market conditions, with Maxim Group LLC acting as the sole placement agent.

Portfolio Pulse from Henry Khederian

March 22, 2024 | 1:22 pm

OTLK

Outlook Therapeutics' stock price increased following the announcement that the European Union CHMP has given a positive opinion on ONS-5010 for treating Wet AMD.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:20 pm

ALK

Major airline executives plan to meet with Boeing's board chair Larry Kellner to discuss recent safety issues, excluding CEO David Calhoun from the talks. The concerns stem from an Alaska Air Group Inc mid-air incident and ongoing production challenges. The decision to bypass the CEO for discussions with Kellner, a former airline CEO, signals potential dissatisfaction with Boeing's leadership. The FAA has emphasized the need for safety and quality improvements at Boeing.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 1:20 pm

BTCUSD

ETHUSD

LULU

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin show mixed performance amid a decrease in weekly jobless claims. Ripple's CEO comments on SEC's actions against Ethereum and XRP. Lululemon's weak outlook impacts pre-market session alongside Nike. US political tensions rise with Marjorie Taylor Greene's statements. Taiwan's tech surge and China's investigation into PwC over Evergrande fraud affect the global economy. Apple faces an antitrust lawsuit, while Tesla's Cybertruck production ramps up. Air travel costs are expected to rise due to airlines passing on decarbonization expenses. Various companies face legal and market challenges.

Portfolio Pulse from Akanksha Bakshi

March 22, 2024 | 1:13 pm

TCI

Transcontinental Realty (NYSE:TCI) reported a significant decrease in Q4 EPS to $(0.30) from $6.82 YoY, despite a 5.23% increase in sales to $13.45M from $12.78M YoY.

Portfolio Pulse from Happy Mohamed

March 22, 2024 | 1:13 pm

TDIV

VOD

VWI

Vodafone U.K. and Three U.K.'s merger faces scrutiny from the Competition and Markets Authority (CMA) over concerns it could lessen competition, potentially leading to higher prices and reduced service quality in the U.K. mobile market. The merger would consolidate 27 million customers and make the combined entity one of the top mobile network operators in the U.K. The CMA's investigation could escalate to Phase 2 unless the companies address these competitive concerns. Vodafone's stock has seen a 22% decline over the past year but is trading higher in premarket.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 1:12 pm

ARL

American Realty Investors (NYSE:ARL) reported a significant decrease in Q4 EPS to $(0.13) from $2.69 YoY, although sales increased by 5.55% to $14.05M from $13.31M YoY.

Portfolio Pulse from Happy Mohamed

March 22, 2024 | 1:12 pm