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RGNX

REGENXBIO's stock price has declined following a U.S. District Court decision against the company in a patent infringement lawsuit concerning its NAV Technology Platform, which was co-developed with the University of Pennsylvania.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:20 pm

BRKR

Bruker Corporation (BRKR) announced preliminary Q4 2023 revenue expectations to exceed $830M, surpassing the $793.24M estimate. Full-year 2023 revenue is also expected to top $2.94B, against a $2.90B estimate. The company anticipates over 12% organic growth for Q4 and over 13% for the full year. Additionally, Bruker provided a positive preliminary outlook for 2024, expecting solid organic growth and non-GAAP EPS improvement. However, these figures are not yet finalized or audited, and the actual results may differ.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:18 pm

GOLF

MODG

NKE

ONON

Tiger Woods has ended his 25-year sponsorship with Nike Inc (NKE), causing speculation about his next partnership. Rumors of Woods joining On Holding Ag (ONON) led to an 8% stock increase, which fell 4% after the company denied the rumors. Shares of Topgolf Callaway Brands Corp (MODG) and Acushnet Holdings Corp (GOLF) rose amid speculation that Woods might sign with them. The new deal is expected to be costly due to Woods' popularity in golf.

Portfolio Pulse from Aaron Bry

January 08, 2024 | 5:15 pm

NWL

Newell Brands Inc (NWL) is undergoing an organizational realignment to enhance commercial capabilities, which includes cutting office roles by 7% by the end of 2024. The company aims to optimize its real estate footprint and implement cost-reduction initiatives. These changes are part of the 'Where to Play / How to Win' strategy introduced in June 2023. Expected annualized pre-tax savings are $65 million to $90 million, with restructuring charges of $75 million to $90 million. NWL's stock rose 2.68% to $8.64.

Portfolio Pulse from Shivani Kumaresan

January 08, 2024 | 5:14 pm

FSLY

Fastly's stock (FSLY) is trading higher following an upgrade from RBC Capital, which changed its rating from Underperform to Sector Perform and increased the price target from $12 to $18.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:09 pm

BA

On CNBC, Jim Lebenthal announced that he has sold his position in The Boeing Company (BA).

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:04 pm

BTB

Bit Brother Limited (NASDAQ:BTB) announced a 1-for-1,000 reverse stock split approved by its board, effective around January 10, 2024. Shareholders will receive one new share for every thousand held, with the aim of increasing the share price. The split will reduce outstanding shares from 3.8 billion to 3.8 million. Stock options and restricted shares will be adjusted accordingly, and fractional shares will be rounded up. New share certificates will be issued, with VStock Transfer LLC managing the exchange.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:03 pm

SRPT

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) reported preliminary financial results for Q4 and FY23, with net product revenue expected to reach $1.145 billion for FY23. ELEVIDYS revenue is projected at $131.3 million for Q4 and $200.4 million for FY23, surpassing consensus. RNA-based PMO revenue is anticipated to be $234.3 million for Q4 and $945.0 million for FY23, exceeding the full-year guidance of $925 million. The company also reported a preliminary year-end cash balance of approximately $1.7 billion. These results were announced at the 42nd Annual J.P. Morgan Healthcare Conference and are unaudited and subject to adjustment. Final results will be reported in late February 2024.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:01 pm

DAVA

HSBC has downgraded Endava (NYSE:DAVA) to Hold, raising the price target from $68.00 to $80.00. Despite the upgrade in price target, Endava's shares fell 2.28% to $72.95. The new target suggests a potential 9.66% upside. Endava specializes in digital transformation and software services, mainly in the U.K. and Europe, focusing on various industries including financial services and telecom.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 5:00 pm

ARRY

Wells Fargo downgraded Array Technologies (NASDAQ:ARRY) from an unspecified rating to Equal-Weight and lowered the price target from $22.00 to $19.00. Despite the downgrade, the new price target suggests a potential upside of 26.88% from the current share price of $14.97. Array Technologies is a manufacturer of solar energy ground-mounting systems, with the majority of its revenue derived from the United States.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 5:00 pm