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SLAM

Slam Corp. (NASDAQ:SLAM) and Lynk Global, Inc. have announced a definitive business combination agreement, aiming to create Lynk Global Holdings, Inc., which will be listed on Nasdaq under the ticker symbol 'LYNK'. This merger leverages Lynk's sat2phone technology, compatible with 2G to 5G devices without modification, and aims to expand global wireless connectivity. The deal values Lynk at $800 million pre-money and is expected to close in the second half of 2024, subject to customary closing conditions and shareholder approval. The capital raised will accelerate the production of satellites and support operations, aiming to connect over two billion unconnected people worldwide.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:21 pm

GRRR

Gorilla Technology Group Inc. (GRRR) reported a significant increase in its financial performance for the first nine months of 2023, with revenues reaching $37.9M, a more than double increase from the previous year. The company achieved a gross margin of 76.5%, a substantial rise from the previous year's 33%, and turned around its comprehensive income to $7.2M from a loss of $86M last year. Adjusted EBITDA surged by 431% YoY. Gorilla's CEO highlighted the company's exceeding of Q3 revenue expectations, a robust sales pipeline over $1 billion, and confidence in meeting the 2024 revenue target of $90M. The company's financial success is attributed to its AI-based edge video analytics, IoT technologies, and security convergence offerings.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:20 pm

CLEU

China Liberal Education Holdings Limited (CLEU), a provider of smart campus solutions and educational services in China, has regained compliance with Nasdaq's minimum bid price requirement. The company received a notification from Nasdaq on February 2, 2024, confirming compliance after a share consolidation increased the bid price above $1.00 per share for 10 consecutive days. The issue of non-compliance was initially raised on September 26, 2023, due to the bid price falling below $1.00 for 30 consecutive days.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:18 pm

Cigna Corporation (NYSE:CI) reported Q4 2023 sales of $51.15 billion, a 12% increase Y/Y, surpassing consensus estimates. Adjusted EPS was $6.79, beating Wall Street's expectation of $6.53. The company also announced a 14% increase in its quarterly dividend to $1.40 per share and provided a strong FY 2024 revenue outlook of at least $235 billion with an adjusted EPS of at least $28.25. Following the report, Cigna's shares rose 5.4%. Analysts from Cantor Fitzgerald and RBC Capital raised their price targets on Cigna, upgrading the stock to Overweight and Outperform, respectively.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 1:15 pm

CLDX

Celldex Therapeutics, Inc. (NASDAQ:CLDX) announced its Phase 2 clinical trial results of barzolvolimab for chronic spontaneous urticaria (CSU) will be presented at the AAAAI 2024. The study, involving 208 patients, evaluates the efficacy and safety of barzolvolimab in CSU patients unresponsive to antihistamines. Results show significant decrease in disease activity and good tolerance. The presentation is scheduled for February 24, 2024, with a webcast on February 25.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:12 pm

FYBR

JANA Partners expressed enthusiasm about Frontier's (FYBR) ongoing business momentum and its potential benefits for shareholders, signaling positive sentiment towards the company's future.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:11 pm

TKLF

Yoshitsu Co., Ltd (TKLF) announced new institutional shareholders including Hudson Bay Capital Management LP, marking a significant step in its global expansion. The company, a retailer and wholesaler of Japanese products, completed a follow-on equity offering, becoming the first Nasdaq listed Japanese company to do so post-IPO. This move, supported by Hudson Bay and seven other institutional investors, is expected to strengthen Yoshitsu's market expansion, especially in the U.S., and support its long-term growth.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:10 pm

INSP

Inspire Medical Systems, Inc. (NYSE:INSP) announced the retirement of Chair Marilyn Carlson Nelson and the appointment of CEO Timothy P. Herbert as the new Chair, effective after the Annual Meeting of Stockholders on May 2, 2024. Nelson has been a significant figure since 2018, and Herbert, the company's founder, has led as CEO since 2007. Gary Ellis is appointed as Lead Independent Director.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:09 pm

ABBV

APLS

DOV

LYB

MAT

MKL

PINS

SKX

SKYW

Top Wall Street analysts have updated their price targets and ratings for several US-listed companies, including Skechers, Pinterest, Apellis Pharmaceuticals, LyondellBasell, Cigna, Markel, Mattel, SkyWest, AbbVie, and Dover Corporation. These changes reflect analysts' latest views on these companies' stock performance, with adjustments made to price targets and stock ratings based on recent market activities and company performance.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 1:09 pm

CTB

TRTL

WELL

One Energy Enterprises Inc. appoints Thomas Russell as CFO, bringing extensive financial experience to aid in the company's growth and transition to public markets. Russell has over 20 years of experience, including roles at CPBS Holdings, Fresh Products, LLC, Cooper Tire & Rubber Company (CTB), and Welltower (WELL). One Energy, known for its on-site wind energy installations, has recently launched significant initiatives, including the largest electric semi-truck charging site in the U.S. and a new electric semi-truck trial program. Additionally, One Energy and TortoiseEcofin Acquisition Corp. III (TRTL) have entered into a Business Combination Agreement, with the combined company to be listed on the NYSE under the ticker 'ONE'.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:09 pm