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ENGN

enGene Holdings Inc (NASDAQ:ENGN) shares surged 45.2% to $11.40 after the announcement of CEO Jason Hanson's resignation for personal reasons and a private placement of 20 million shares at $10.00 each, aiming to raise $200 million. The financing is set to close on February 16. The company's stock is currently trading above its 200-day moving average of $8.48, indicating a bullish signal for investors.

Portfolio Pulse from Henry Khederian

February 14, 2024 | 1:36 pm

EQT

EQT Corp (NYSE:EQT) shares fell after reporting Q4 FY24 adjusted operating revenues of $1.549 billion, missing estimates of $1.571 billion, and adjusted EPS of $0.48, below the consensus of $0.52. Production increased to 564 Bcfe, with a decline in average realized price to $2.75/Mcfe. The company saw a rise in adjusted EBITDA to $840 million and announced an acquisition of a ~34% stake in EQT-operated gathering systems for $205 million. EQT expects 2024 sales volume of 2,200 - 2,300 Bcfe and plans $200 million - $300 million on strategic growth capital expenditures.

Portfolio Pulse from Lekha Gupta

February 14, 2024 | 1:35 pm

MRCY

PEPG

PLCE

VFC

Insiders have made significant purchases in shares of Children's Place, PepGen, V.F. Corporation, and Mercury Systems, indicating potential confidence in these companies' futures. Notable transactions include a $20.39 million purchase in PLCE, a $27.2 million purchase in PEPG, a $199,048 purchase in VFC, and a $37.27 million purchase in MRCY. These actions may signal insider belief in undervalued stock prices or strong future prospects.

Portfolio Pulse from Avi Kapoor

February 14, 2024 | 1:28 pm

AXP

HOOD

KPLT

MCY

TRV

As of Feb. 14, 2024, five financial stocks are considered overbought based on their RSI values, potentially indicating a short-term performance dip. These stocks include Robinhood Markets, Inc. (HOOD), Mercury General Corporation (MCY), Katapult Holdings, Inc. (KPLT), American Express Company (AXP), and The Travelers Companies, Inc. (TRV). Recent financial results and stock movements are highlighted for each.

Portfolio Pulse from Avi Kapoor

February 14, 2024 | 1:28 pm

SONY

Sony Group Corp (NYSE: SONY) reported a 22% year-on-year increase in Q3 FY23 sales to $25.34 billion, surpassing consensus estimates. Adjusted EPS was $1.99, beating the consensus of $1.65. The company saw revenue growth in various segments, with notable increases in Game & Network Services, Music, and Imaging & Sensing Solutions. Sony also revised its FY23 sales outlook downwards but increased its operating and net income projections. Additionally, Sony plans to IPO its financial division in October 2025. SONY shares rose 3.29% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 14, 2024 | 1:27 pm

LAD

Lithia Motors Inc (NYSE:LAD) reported Q4 FY23 sales growth of 10.5% Y/Y to $7.67 billion, missing analyst expectations of $7.95 billion. Adjusted EPS was $8.24, aligning with consensus. New vehicle retail revenues rose by 21.4%, and used vehicle retail revenues by 1.8%. Driveway's monthly unique visitors averaged nearly 2.8 million, with over $428 million in loans originated. Gross profit increased 4.3% Y/Y to $1.26 billion, though gross margin contracted by 100 basis points to 16.4%. Adjusted operating margin fell by 60 bps, with operating income dropping to $387.6 million from $393.4 million Y/Y. Cash and equivalents stood at $941.4 million, with inventories at $4.75 billion. A dividend of $0.50 per share was announced, payable on March 22, 2024, to shareholders on record as of March 9, 2024. LAD shares dropped 1.00% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 14, 2024 | 1:22 pm

PGR

Progressive Corporation (NYSE:PGR) reported its January 2024 results with a net income of $700.7M and EPS of $1.18. Net premiums written were $5,495.7M, and net premiums earned were $5,386.0M. The combined ratio improved to 87.3 from 96.0 the previous year. Policies in force saw an increase across all categories, with total companywide policies reaching 29,951.4 thousand, a 7.65% increase from the previous year. The company also noted a change in its accounting calendar to align with the Gregorian calendar, affecting year-over-year comparisons from October 2023 through September 2024.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 1:21 pm

BTCUSD

COIN

HOOD

Coinbase Global, Inc. (NASDAQ:COIN) shares surged in premarket trading, potentially due to Robinhood Markets, Inc.'s (NASDAQ:HOOD) unexpected Q4 profit and strong cryptocurrency transaction revenue. Coinbase, set to report quarterly results soon, may benefit from similar market optimism, especially with the recent rally in cryptocurrencies like Bitcoin (CRYPTO:BTC), which saw a 57% increase in Q4.

Portfolio Pulse from Shanthi Rexaline

February 14, 2024 | 1:16 pm

BTI

British American Tobacco (NYSE:BTI) has seen a 41.18% decrease in short interest, now at 4.48 million shares or 0.2% of float, indicating a bullish market sentiment. Compared to its peers' average short interest of 2.86%, BTI's lower short interest suggests it is performing well. Short interest is a key indicator of market sentiment, with decreases often signaling increased bullishness among investors.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 1:15 pm

ODFL

Old Dominion Freight Line (ODFL) has seen a decrease in short interest, with 2.03 million shares sold short, representing 2.08% of its float. This is below the peer group average of 4.55%. The reduction in short interest suggests a more bullish sentiment among investors towards ODFL.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 1:15 pm