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PGY

Pagaya Technologies Ltd. has announced that its full-year 2023 network volume is expected to surpass the higher end of its previously forecasted range of $8 billion to $8.2 billion.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:29 pm

SNPS

Trading for Synopsys, Inc. (SNPS) was halted and then resumed at 8:25 AM ET, with updated quotation resumption times following the release of news.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:25 pm

AAPL

AMZN

GOOGL

IWM

META

MSFT

NVDA

SPY

TSLA

Institutional investors are optimistic about the U.S. economy avoiding a recession in 2024, with a majority expecting a soft or no landing. The 'Magnificent Seven' tech giants (Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla) are seen as a crowded but promising trade, especially with anticipated rate cuts by the Federal Reserve. Investors are also favoring U.S. equities, particularly small caps, as evidenced by the Russell 2000's outperformance compared to the S&P 500. The BofA survey shows a low expectation of a hard landing, with the Federal Reserve and corporate earnings being key market drivers for 2024.

Portfolio Pulse from Neil Dennis

January 16, 2024 | 1:25 pm

PGY

Pagaya Technologies anticipates that its preliminary 2023 network volume and adjusted ABITDA will surpass the upper limits of its forecasted ranges for the fiscal year 2023. This positive outlook suggests that the company is performing better than expected in terms of both network growth and profitability.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:24 pm

PGY

Pagaya Technologies has announced its intention to conduct a reverse stock split of its ordinary shares, expected to occur in Q1 2024. The proposed reverse split ratio will be in the range of 1-for-10 to 1-for-15. This corporate action is typically undertaken by companies aiming to boost their stock price by reducing the number of shares outstanding, which can also help them meet minimum share price requirements for stock exchanges.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:23 pm

TM

Toyota Motor Corp (NYSE:TM) plans to produce a record 10.3 million vehicles in 2024, driven by high demand for its hybrid vehicles. The company is recovering from semiconductor shortages and aims to split production between 3.4 million in Japan and 6.9 million overseas. Toyota's electric vehicle production target is set at 250,000 for 2024 and 600,000 for 2025. A third of the 9.2 million vehicles sold in the first 11 months of 2023 were hybrids. TM shares saw a slight premarket drop of 0.35%.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 1:23 pm

WKSP

Worksport Ltd. has completed the purchase of inventory parts necessary for the Alpha Release of its COR Portable Energy Storage System. This includes critical components like power switches and microcontrollers. The company's proactive approach aims to expedite manufacturing and avoid delays for its SOLIS Solar Cover and COR Battery System. Worksport's CEO Steven Rossi expresses optimism for a rapid market introduction and readiness for real-world testing, contributing to the clean energy movement in the automotive sector.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:22 pm

PBLA

Panbela Therapeutics, Inc. (NASDAQ:PBLA) has announced a 1-for-20 reverse stock split effective January 18, 2024, to increase its stock price and regain compliance with Nasdaq Capital Market listing requirements. The reverse split will reduce the outstanding shares to approximately 480 thousand, with adjustments to warrants, options, and equity incentive plans. The authorized shares for issuance will remain unchanged.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:21 pm

EGO

Eldorado Gold Corporation (NYSE:EGO) shares are trading lower in premarket after reporting Q4 gold production of 143,166 ounces and full-year production of 485,140 ounces, which met the midpoint of its guidance range. The company saw increased production in Canada and Turkiye, with a slight decrease in Greece. EGO will release full Q4 and FY23 results on February 22, 2024, and has recently appointed a new CFO, Paul Ferneyhough.

Portfolio Pulse from Lekha Gupta

January 16, 2024 | 1:18 pm

AWK

American Water Works (NYSE:AWK) has seen a decrease in short interest, with the short percent of float dropping 5.36% since the last report. The company has 2.74 million shares sold short, which is 1.59% of available shares for trading. The average time to cover these short positions is 3.65 days. Short interest is a market sentiment indicator, and a decrease suggests investors may be more bullish on AWK. Compared to its peers, AWK has a slightly higher short interest percentage of 1.58%. The article suggests that a decrease in short interest does not necessarily predict a near-term price rise.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 1:15 pm