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HII

Huntington Ingalls Industries has expanded its share repurchase program by $600 million, bringing the total authorization to $3.8 billion. The company has also extended the duration of the program from October 31, 2024, to December 31, 2028.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:31 pm

ADBE

JBLU

SAVE

The Biden Administration's stance on mergers has led to blocked deals, including JetBlue's (JBLU) acquisition of Spirit Airlines (SAVE), which is now facing bankruptcy. Spirit's value has plummeted from $3.8 billion to under $1 billion. The blocked Adobe (ADBE) and Figma merger also reflects regulatory challenges. These developments have implications for merger arbitrage investors, the banking sector's revenue from M&A, and the companies involved. While JetBlue's stock rose 4% after the blocked merger, Adobe's shares fell 14% on the day of announcing its Figma acquisition but have since recovered.

Portfolio Pulse from Caleb Naysmith

January 31, 2024 | 4:30 pm

ADP

Shares of Automatic Data Processing (ADP) are trading higher after the company reported better-than-expected results for its second quarter.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:29 pm

BA

Boeing shares have risen following the release of their Q4 earnings, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:27 pm

EXTR

Extreme Networks, Inc. (EXTR) reported a 6.9% year-over-year decline in Q2 FY24 revenue, with a disappointing outlook for Q3 and Q4. Despite beating revenue consensus, product revenue fell and adjusted EPS missed estimates. The company also repurchased shares but expects lower future revenues and a negative adjusted EPS in Q3, with a recovery anticipated in Q4.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 4:26 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo provides daily trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula considering price, volume, and options flow. The memo outlines potential price targets and support levels for each asset, suggesting possible breakouts or reversals. The trading session is expected to be volatile due to the FOMC rate decision and Jerome Powell's press conference. The memo is part of a service offered by Market Clubhouse, which includes a live daily market analysis, a watch list, and real-time mentorship from a pro trader known as RIPS.

Portfolio Pulse from RIPS

January 31, 2024 | 4:24 pm

GM

RBC Capital analyst Tom Narayan has maintained an Outperform rating on General Motors (NYSE:GM) and increased the price target from $52 to $54.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:22 pm

PLUG

Plug Power Inc (NASDAQ:PLUG) shares surged following an upgrade from Roth MKM analyst Craig Irwin, who changed the rating from Neutral to Buy and increased the price target from $4.50 to $9. The upgrade was based on the successful ramp-up of Plug Power's Georgia green hydrogen plant, which is now operational and expected to start its first liquid hydrogen delivery soon. The plant's production capacity and Plug Power's new hydrogen sales pricing strategy are expected to improve margins and financial performance.

Portfolio Pulse from Adam Eckert

January 31, 2024 | 4:12 pm

GM

GM CEO Mary Barra announced that 2024 is pivotal for GM's EV growth, with plans to launch six new EV models and expectations of EV profitability. Despite potential industry decline, GM anticipates increased EV sales, backed by 100,000 orders for EV pickups. GM's flexibility with factories that can switch between ICE and EV production, and increased plug-in hybrid production, positions it well for changing demands and regulations. GM shares rose 3.37% following the announcement.

Portfolio Pulse from Erica Kollmann

January 31, 2024 | 4:11 pm

SINT

SiNtx Technologies, Inc. (NASDAQ:SINT) experienced volatility after announcing a cooperative research and development agreement with the U.S. Army and a $4 million stock offering. The agreement focuses on ceramic additive manufacturing and ceramic matrix composites. The stock offering is priced at 25 cents per share for 16 million units, with expected gross proceeds of $4 million, closing on Feb. 2. SINT shares dropped 19.9% to around 19 cents.

Portfolio Pulse from Erica Kollmann

January 31, 2024 | 4:03 pm