Streetbeat News

Stock Prices

GSL

Global Ship Lease Inc (NYSE:GSL) reported Q4 FY23 results with an 8.4% Y/Y increase in operating revenue to $178.9 million, surpassing consensus estimates. However, operating income fell to $78.9 million from $85.1 million Y/Y. Adjusted EBITDA and normalized EPS both saw significant increases. The company declared a dividend of $0.375 per share, payable in March 2024. Trade disruptions in the Red Sea and water shortages in the Panama Canal have tightened containership supply and demand, impacting charter rates and asset values. Despite positive financial results, GSL shares dropped 6.6% to $19.24.

Portfolio Pulse from Lekha Gupta

March 04, 2024 | 4:38 pm

OILFF

Nextleaf Solutions Ltd. (OTCQB:OILFF), a cannabis processor, reported a 170% YoY increase in net revenue to $2.4 million for Q1 2024, marking its highest gross sales period. The company, which launched its house brands in Alberta, plans to introduce nine new products nationwide. Despite higher expenses, Nextleaf maintained a debt-free position and saw its shares rise 1.6904% to $0.1143.

Portfolio Pulse from Jelena Martinovic

March 04, 2024 | 4:35 pm

CEG

UBS analyst Ross Fowler maintains a Buy rating on Constellation Energy (NASDAQ:CEG) and raises the price target from $151 to $201.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:32 pm

IP

SON

TROX

Wall Street's most accurate analysts recommend three high-dividend yielding materials stocks: International Paper Company (IP), Tronox Holdings plc (TROX), and Sonoco Products Company (SON). IP reported lower than expected Q4 sales, TROX posted upbeat quarterly sales, and SON reported downbeat Q4 earnings. Analysts have adjusted their price targets and ratings for these stocks, reflecting their performance and market outlook.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 4:31 pm

IGT

International Game Technology (IGT) shares dropped following a downgrade by Stifel from Buy to Hold, with a price target reduction from $31 to $30.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:28 pm

AKRO

Akero Therapeutics Inc (NASDAQ:AKRO) shares surged after announcing positive week 96 results from its Phase 2b HARMONY study of efruxifermin (EFX) for MASH, fibrosis stage 2 or 3. The study showed significant improvement in fibrosis without worsening of MASH, with response rates and placebo-adjusted effect sizes increasing notably from week 24 to week 96. EFX was well-tolerated with no deaths and balanced serious adverse events across dose groups. Despite positive results in the HARMONY study, EFX did not show statistical significance in the SYMMETRY Phase 2b trial for improving liver scarring in compensated cirrhosis due to MASH. AKRO shares rose 13.20% to $31.53.

Portfolio Pulse from Vandana Singh

March 04, 2024 | 4:28 pm

NFE

New Fortress Energy's stock trades lower following a $500 million proposed offering of senior secured notes and a downgrade by Deutsche Bank from Buy to Hold, with a reduced price target from $40 to $35.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:25 pm

RNLX

Renalytix plc (NASDAQ:RNLX), an AI-powered diagnostics company focusing on kidney disease, has received an unsolicited acquisition approach, causing its stock to soar. The company is evaluating the acquisition of its entire share capital by a large, publicly-listed strategic diagnostics company. Renalytix has initiated a formal sale process to explore all options, including a potential sale of the company or assets. The company's stock surged 26.0% to $1.32, with a session volume of 9.26 million, significantly higher than its average volume of 1.42 million. Additionally, Renalytix announced that its FDA de Novo Marketing authorized test, kidneyintelX.dkd, will be added to the US Government's 10-year Acquisition Contract for early-stage kidney disease bioprognostic testing services starting March 1, 2024.

Portfolio Pulse from Vandana Singh

March 04, 2024 | 4:22 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) shares surged amid volatility in Trump-related stocks following Trump's wins in the Missouri and Idaho Republican caucuses and a Supreme Court ruling ensuring Trump remains on the Republican primary ballot in all states. The court stated that Congress, not states, has the authority to enforce the 14th Amendment provision against federal office-seekers. Phunware does not pay dividends but may engage in capital allocation programs like stock buybacks. Phunware's stock price increased by 105% to $14.51.

Portfolio Pulse from Erica Kollmann

March 04, 2024 | 4:22 pm

FANG

RBC Capital analyst Scott Hanold has reiterated an Outperform rating on Diamondback Energy (NASDAQ:FANG), maintaining a price target of $195.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:21 pm