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GMED

Globus Medical, Inc. (NYSE:GMED) shares surged after reporting Q1 results that exceeded expectations and raising its FY 2024 guidance. Earnings per share were 72 cents, surpassing the consensus estimate of 57 cents, and representing a 35.85% increase year-over-year. Sales reached $606.67 million, a 119.26% increase from the previous year, beating estimates by 3.33%. The company's updated FY 2024 guidance forecasts revenue between $2.46 billion and $2.485 billion, with earnings per share between $2.75 and $2.85. Analysts have responded positively, with multiple price target adjustments.

Portfolio Pulse from Erica Kollmann

May 08, 2024 | 6:31 pm

FMCX

KKR

LBO

KKR & Co. Inc. (NYSE:KKR) has agreed to purchase Perpetual's wealth management and corporate trust units for approximately $1.43 billion. The acquisition will be executed through a Scheme of Arrangement, with net proceeds returned to shareholders after debt repayment and other costs. This move follows Perpetual's acquisition of Pendal 16 months prior. Perpetual also announced the retirement of CEO Rob Adams. Additionally, KKR recently formed a JV with Healthcare Realty Trust for medical outpatient buildings and holds $14.6 billion in cash and investments. KKR shares slightly increased by 0.02% to $99.56.

Portfolio Pulse from Lekha Gupta

May 08, 2024 | 6:27 pm

CPNG

Coupang, Inc. (NYSE:CPNG) shares fell after reporting mixed Q1 results, with earnings of 5 cents per share missing estimates by 1 cent, but sales of $7.11 billion exceeding expectations. The company saw a 22.66% increase in sales year-over-year and a 15% increase in Product Commerce segment net revenues. Active customers grew by 16% year-over-year. Mizuho analyst James Lee maintained a Neutral rating on CPNG but raised the price target from $20 to $23. Despite the mixed results, CPNG shares have gained 30.34% year to date, outperforming historical averages.

Portfolio Pulse from Erica Kollmann

May 08, 2024 | 6:25 pm

GME

GameStop saw significant options activity with a sweep of 32 calls for the $20.5 strike price at $0.464 each, above the ask price, against an open interest of 738. This activity comes ahead of their earnings report expected on June 5th, after market close, with the reference stock price at $16.685.

Portfolio Pulse from Charles Gross

May 08, 2024 | 6:20 pm

DASH

Options trading trends for DoorDash (NASDAQ:DASH) show a bullish stance by whales, with a mix of bullish and bearish trades observed. The trading range for DoorDash's stock is expected between $105.0 to $150.0. The company, known for its online food ordering and delivery platform, is currently trading at $111.66, a decrease of -3.37%. Analysts have given DoorDash ratings with an average target price of $133.4, indicating a positive outlook on the stock.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 6:16 pm

RDDT

JMP Securities analyst Andrew Boone has maintained a Market Outperform rating on Reddit (NYSE:RDDT) and increased the price target from $53 to $63.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 6:11 pm

PERI

Perion Network Ltd (NASDAQ:PERI) reported a 9% year-over-year increase in Q1 2024 revenues to $157.82 million, surpassing Wall Street's expectations. Adjusted EPS was $0.44, beating estimates of $0.23. The company saw a 20% increase in average daily searches and significant growth in Retail Media and CTV revenues, though video revenue declined by 52%. Operating cash flow decreased compared to the previous year, but the company maintains a strong cash position. Perion's outlook for Q2 and the full fiscal year remains positive, despite a slight decrease in share price.

Portfolio Pulse from Anusuya Lahiri

May 08, 2024 | 6:08 pm

DOGEUSD

PEPEUSD

WIFUSD

Crypto trader Intuitio has classified Dogecoin (DOGE) as the 'BTC of memes,' likening it to Bitcoin in terms of safety and foundational status among meme coins. He identifies Pepe (PEPE) and Dogwifhat (WIF) as the Ethereum equivalents in the meme coin space, suggesting they offer the best risk/reward ratio. Intuitio advises a portfolio allocation of 70% in Pepe/Wif and 30% in other meme categories for potential gains, cautioning about the high volatility and early stage of the meme coin market.

Portfolio Pulse from Khyathi Dalal

May 08, 2024 | 6:07 pm

JOBY

Joby Aviation's stock trades lower following the release of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 6:04 pm

HLMN

Hillman Solns (NASDAQ:HLMN) received mixed analyst ratings with a shift towards a more bullish outlook in the last quarter. Analysts from Baird, Stifel, Barclays, and Canaccord Genuity adjusted their price targets upwards, reflecting a positive sentiment shift. The average 12-month price target is now $12.6, up from $11.40. Despite this, Hillman Solns faces financial challenges, including a revenue decline of -0.81% in the last 3 months of 2023, a net margin of -2.89%, and a high debt-to-equity ratio of 0.72.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 6:01 pm