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PHYT

Pyrophyte Acquisition Corp. (PHYT) has received a notice from the NYSE for not filing its Form 10-K on time. This notice is a standard procedure for companies that fail to meet the SEC's filing deadlines. PHYT is required to submit a plan to regain compliance within six months to avoid potential delisting. The company's stock may face volatility as investors react to the news of the delayed filing and the risk of delisting.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:10 pm

AMP

Ameriprise Financial (AMP) reported Q1 2024 adjusted EPS of $8.39, surpassing the $8.20 estimate, with sales of $4.146B also beating the $4.121B estimate, marking a 10.80% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:10 pm

CDNS

Cadence Design System's shares dropped following its announcement of Q2 adjusted EPS and sales guidance below market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:08 pm

DCO

Albion River LLC, through its affiliate Ignium LP, has increased its equity holdings in Ducommun Incorporated (NYSE:DCO) to over 9.2%, owning more shares than all of Ducommun's management and Board of Directors combined. Following Albion's bid disclosure, Ducommun's stock reached a 52-week high but then dropped 11% after the company announced it is not for sale. Albion criticizes the board's refusal to sell and suggests stock-based compensation be aligned with a $60 strike price to maximize shareholder value. Albion plans to make its case to shareholders at the upcoming Annual General Meeting on April 24th.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:08 pm

CLF

Cleveland-Cliffs has announced a new $1.5 billion share repurchase program, signaling confidence in its financial health and future prospects. This move is likely to be well-received by investors as it often indicates a company's belief in its undervalued stock and a commitment to enhancing shareholder value.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:07 pm

AU

AYA

GDX

NEM

SIL

Gold prices fell 2.7% to below $2,350, and silver dropped 5.1%, affecting mining stocks significantly. The VanEck Gold Miners ETF (GDX) and Global X Silver Miners ETF (SIL) saw declines of 4.3% and over 3%, respectively. Major mining companies like Aya Gold & Silver Inc. (AYA), AngloGold Ashanti plc (AU), and Newmont Corporation (NEM) experienced notable drops in their stock prices. The market's shift is attributed to reduced geopolitical risks and anticipation of key U.S. economic data releases.

Portfolio Pulse from Piero Cingari

April 22, 2024 | 8:07 pm

SFBS

Servisfirst Bancshares (SFBS) reported Q1 2024 earnings of $0.94 per share, surpassing the $0.88 estimate, with sales of $111.308M also beating the $109.100M estimate, despite a 2.89% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:05 pm

CDNS

Cadence forecasts FY24 adjusted EPS of $5.88-$5.98, slightly below the $5.94 estimate, with revenue projections of $4.56B-$4.62B, aligning with the $4.59B estimate. For Q2, the company expects adjusted EPS of $1.20-$1.24, below the $1.43 estimate, and revenue of $1.03B-$1.05B, under the $1.11B estimate.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:05 pm

PKG

Packaging Corp of America (PKG) reported Q1 2024 adjusted EPS of $1.72, surpassing the $1.68 estimate, with sales of $1.979B exceeding the $1.909B forecast. This represents a slight 0.15% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:04 pm

CDNS

Cadence has increased its revenue outlook for 2024, indicating a positive forecast for the company's financial performance in the upcoming year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:03 pm