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SBUX

The Strategic Organizing Center (SOC), a shareholder of Starbucks Corporation (NASDAQ:SBUX), released an investor presentation advocating for board changes at Starbucks. The presentation criticizes the current board's handling of labor issues, resource allocation, and the resulting negative impact on shareholder value. The SOC has nominated three individuals with diverse leadership experience for election to the board, aiming to address these issues and improve the company's approach to labor relations and overall performance.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:24 pm

GXAI

Gaxos.AI Inc (NASDAQ:GXAI) shares dropped 20.8% to $0.56 due to potential profit-taking after announcing an AI solution for game developers. The new service, aimed at streamlining creative asset development, supports Unity and plans for Unreal Engine support. The drop follows a recent high, with GXAI's 52-week range being $0.18 to $1.60.

Portfolio Pulse from Henry Khederian

February 20, 2024 | 2:24 pm

VZIO

WMT

Walmart Inc (NYSE:WMT) reported a Q4 FY24 net sales increase of 5.7% Y/Y to $173.39 billion, surpassing consensus estimates. Adjusted EPS was $1.80, also beating expectations. The company announced a dividend hike and an acquisition of VIZIO Holding Corp (NYSE:VZIO) for approximately $2.3 billion. Walmart's U.S. operations saw significant growth, with eCommerce sales up 17%. The company expects Q1 consolidated net sales growth of 4.0% to 5.0% and adjusted EPS of $1.48 - $1.56. FY25 projections include net sales growth of 3.0% to 4.0% and adjusted EPS of $6.70 - $7.12.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 2:21 pm

IPWR

Ideal Power Inc (NASDAQ:IPWR) has started commercial shipments of its SymCool Power Modules, targeting applications in switchgear, renewable energy, EVs, and more. The company anticipates forming major OEM partnerships and custom development agreements later this year, with sales expected to ramp up in the second half of 2024. CEO Dan Brdar highlighted the efficiency benefits of their B-TRAN technology and the company's progress on its commercialization roadmap.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 2:20 pm

HSY

Hershey has reaffirmed its financial expectations for the year 2024, indicating confidence in its future performance.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:18 pm

CLSK

MARA

RIOT

Shares of Bitcoin mining stocks Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are trading higher amid a broader cryptocurrency market rally. Bitcoin and Ethereum have reached significant price levels, with Bitcoin hitting its highest since December 2021 and Ethereum crossing $3,000. CleanSpark's better-than-expected quarterly results have contributed to the momentum in mining stocks. Riot and Marathon are expected to report their earnings soon, with specific expectations for their financial performance.

Portfolio Pulse from Adam Eckert

February 20, 2024 | 2:18 pm

AAPL

LUNR

META

NVDA

QQQ

SMCI

SOUN

TSLA

WMT

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:14 pm

TWOA

TWOA has announced a private placement of 1.5 million shares at $10 each, totaling $15 million, in connection with its merger with LatAm Logistic Properties (LLP). This merger will result in the creation of a new holding company, Logistic Properties of the Americas (Pubco), which will become the publicly traded parent company of TWOA and LLP. The transaction, aimed at strengthening their position in the industrial and logistics real estate sector in Central and South America, is expected to close with Pubco's shares listed on the NYSE under the ticker 'LPA'.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:14 pm

GFS

GlobalFoundries shares are trading higher following the announcement that the U.S. has awarded the company $1.5 billion in direct funding as part of the U.S. CHIPS and Science Act.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:12 pm

IDU

LDOS

VMC

Leidos Holdings, Inc. (LDOS) and Vulcan Materials Company (VMC) were highlighted on CNBC's 'Final Trades' for their strong financial performance. LDOS reported a revenue growth of 8% YOY in Q4 2023, with an adjusted EPS increase of 9% YOY, beating consensus estimates. VMC also reported better-than-expected Q4 results, with revenue in line with consensus and adjusted EPS above expectations. Additionally, iShares U.S. Utilities ETF (IDU) was named as a final trade by Shannon Saccocia of NB Private Wealth.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 2:07 pm