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JOAN

Joann Inc (NASDAQ:JOAN), a fabric and crafts retailer, has initiated voluntary prepackaged Chapter 11 cases to restructure its debt. The company has entered into a Transaction Support Agreement with key stakeholders, securing about $132 million in new financing and aiming to reduce its funded debt by approximately $505 million. Joann expects to complete the restructuring by late April 2024, with its stores and website operating as normal. Shares surged 64.9% to $0.38 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 18, 2024 | 10:51 am

AAPL

BBY

WMT

Walmart Inc. and Best Buy Co Inc. have ignited a price war over Apple Inc.'s M1 MacBook Air, driving its price to the lowest ever. Walmart began selling the M1 MacBook Air for $699, marking its first direct sale of Macs. Best Buy responded by lowering its price to $649. This competition comes as Apple introduces its M3 MacBook Air, which is significantly faster than the M1, and discontinues the M1 model.

Portfolio Pulse from Rounak Jain

March 18, 2024 | 10:50 am

VRPX

Virpax Pharmaceuticals received a letter from Nasdaq on March 15, indicating that the company has regained compliance with Nasdaq Listing Rule 5550(a)(2).

Portfolio Pulse from Charles Gross

March 18, 2024 | 10:38 am

SLDB

Barclays analyst Gena Wang maintains an Overweight rating on Solid Biosciences (NASDAQ:SLDB) and raises the price target from $8 to $21, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:25 am

SST

System 1 forecasts its Q1 FY24 revenue to be between $82M and $84M, significantly lower than the estimated $145.77M.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:24 am

SLG

Evercore ISI Group analyst Steve Sakwa downgraded SL Green Realty (NYSE:SLG) from In-Line to Underperform and set a price target of $44.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:21 am

HIBB

Williams Trading analyst Sam Poser downgrades Hibbett (NASDAQ:HIBB) from Buy to Hold and sets a $73 price target.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:19 am

CODA

Coda Octopus Group (CODA) reported Q1 2024 earnings of $0.06 per share, surpassing the $0.01 estimate, with sales of $4.461M beating the $3.990M estimate but marking a 20.28% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:17 am

NVDA

Nvidia Corp. (NASDAQ:NVDA) shares rose over 2% in premarket trading as anticipation builds for CEO Jensen Huang's keynote at the annual GPU Technology Conference (GTC) 2024. The event, running from March 18-21, is expected to feature discussions on Nvidia's next-gen AI accelerator, Blackwell 100 (B100), and its AI ecosystem. Nvidia's stock has seen significant growth, ending as the best-performing S&P 500 stock with a 239% rally last year and a further 72% increase year-to-date. The company is now the third most-valued global corporation.

Portfolio Pulse from Shanthi Rexaline

March 18, 2024 | 10:15 am

NVDA

HSBC analyst Frank Lee has maintained a Buy rating on NVIDIA (NASDAQ:NVDA) and increased the price target from $880 to $1050, indicating a positive outlook on the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:14 am