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CRM

GDDY

Starboard Value, led by Jeffrey Smith, has increased its activist investment in GoDaddy (GDDY) and reduced its stake in Salesforce (CRM), according to a CNBC report. This move indicates a strategic shift in Starboard's investment focus, potentially aiming to influence GoDaddy's business direction while capitalizing on gains from Salesforce.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:36 pm

F

Financial analysts have observed a bullish trend in Ford Motor's (NYSE:F) options trading, with 70% of trades being bullish. The analysis indicates a target price range of $11.17 to $12.82. Notable trades include both puts and calls, with significant volumes and open interest. Ford's current market status shows a 1.43% increase in stock price to $12.41, with potential overbought signals. Analyst ratings vary, with an average target price of $13.8, but opinions range from Buy to Sell. Ford's strategic division into Ford Blue and Ford Model e aims to enhance its market share.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 6:30 pm

CNVS

Cineverse Corp. (NASDAQ:CNVS) shares dropped 25.5% to $1.75 after launching Cineverse 360, a new ad platform, and reporting Q3 results with revenues of $13.276 million missing the consensus of $13.355 million. The company's shares have lost over 80% in the last year. Cineverse also announced cineSearch, an AI-powered movie search platform, set for a public beta in Spring 2024.

Portfolio Pulse from Nabaparna Bhattacharya

February 15, 2024 | 6:30 pm

IPGP

Citigroup analyst Jamie Wang downgrades IPG Photonics (NASDAQ:IPGP) from Neutral to Sell and lowers the price target from $111 to $74, indicating a bearish outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:22 pm

OXY

Occidental Petroleum Corporation (OXY) announced that its oil production in the U.S. Gulf of Mexico will be impacted into March due to a third-party outage, as reported by Reuters during a webcast.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:22 pm

UPWK

Upwork, Inc. (NASDAQ:UPWK) reported strong Q4 results, surpassing analyst estimates for earnings and sales. The company's earnings were 20 cents per share against an expected 17 cents, with sales at $183.9 million versus the anticipated $178.16 million. Upwork's optimistic outlook for Q1 and full-year 2024, including higher earnings and revenue forecasts, was also highlighted. Despite this, UPWK shares fell 7.2% following the announcement. Analysts from Needham and RBC Capital raised their price targets for Upwork, reflecting confidence in its growth trajectory.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 6:20 pm

HLF

Herbalife Ltd. (NYSE:HLF) shares plummeted by approximately 36% due to disappointing quarterly earnings, missing market expectations. The article also highlights significant movements in other stocks during Thursday's mid-day session, including notable gainers like JX Luxventure Limited and losers such as Treasure Global Inc.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 6:20 pm

WST

West Pharmaceutical Services Inc. (WST) reported a Q4 2023 adjusted EPS of $1.83, surpassing estimates but with sales slightly missing expectations. The company provided a cautious 2024 outlook, forecasting lower sales and EPS than consensus estimates, attributing this to moderated organic sales growth and inventory management challenges. Despite this, analysts at William Blair maintain an Outperform rating, emphasizing the need for West to clarify its position on destocking to reassure investors.

Portfolio Pulse from Vandana Singh

February 15, 2024 | 6:17 pm

GEO

The GEO Group Inc (NYSE:GEO) reported Q4 FY23 revenue of $608.3 million, surpassing the consensus of $597.5 million. Adjusted EBITDA decreased to $129.0 million from $145.5 million a year ago, while adjusted EPS of $0.29 beat the consensus of $0.18. The company reduced its total net debt by $197.0 million, ending the year with $1.78 billion in total net debt. Cash and cash equivalents were $93.97 million as of December 31, 2023. GEO expects Q1 revenue between $600 million and $610 million, and FY24 net income between $110 million and $125 million, with revenues around $2.4 billion. Shares are up 6.59% at $11.84.

Portfolio Pulse from Lekha Gupta

February 15, 2024 | 6:13 pm

WCN

Waste Connections, Inc. (NYSE:WCN) reported Q4 earnings of $1.11 per share, surpassing estimates of $1.09. Sales reached $2.04 billion, exceeding expectations of $2.03 billion. The company anticipates significant growth in 2024, including a 120 basis points EBITDA margin expansion and potential revenue growth from acquisitions. Waste Connections plans to offer senior notes in a public offering. Shares rose 0.3% to $164.63. RBC Capital and BMO Capital raised their price targets for WCN following these results.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 6:13 pm