Streetbeat News

Stock Prices

BKU

UBS analyst Brody Preston has downgraded BankUnited (NYSE:BKU) from Neutral to Sell and set a price target of $29.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:20 pm

AMD

Shares of Advanced Micro Devices (AMD) are trading higher following an upgrade from Hold to Buy by Melius Research.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:20 pm

ZCAR

Zoomcar, a self-drive car rental company, has resumed trading of its shares. The ticker symbol for Zoomcar is ZCAR.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:20 pm

AMAM

HARP

JNJ

MRK

Johnson & Johnson (NYSE:JNJ) is set to acquire Ambrx Biopharma Inc (NASDAQ:AMAM) for approximately $2.0 billion, or $1.9 billion net of estimated cash acquired, at $28.00/share. Ambrx, known for its cancer treatment candidates and proprietary ADC technology, will enhance JNJ's oncology portfolio. The deal is expected to close in the first half of 2024. Separately, Merck & Co Inc (NYSE:MRK) plans to acquire Harpoon Therapeutics Inc (NASDAQ:HARP) for around $680 million at $23.00 per share in cash. AMAM shares surged 98.30% to $27.04 following the news.

Portfolio Pulse from Vandana Singh

January 08, 2024 | 3:18 pm

ANET

Arista Networks' stock (ANET) has received an upgrade from Melius Research, changing its rating from Hold to Buy, along with a new price target of $300. This positive analyst action is likely to influence the company's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:18 pm

ZCAR

Shares of Zoomcar (ZCAR) were halted due to a circuit breaker after experiencing a significant upside, with the stock price rising by 3.79%.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:16 pm

CUEN

Cuentas, Inc. CEO Arik Maimon released a shareholder letter highlighting the company's achievements in 2023, including strong shareholder support with over 62% approval in proxy votes, revenue growth, and successful real estate ventures. The company, serving the Hispanic market, offers integrated mobile, fintech, and real estate services, including Cuentas Mobile and Cuentas Money. The CEO emphasized the success of the Lakewood Village project and the upcoming Tampa project, with Tampa being a fast-growing real estate market. Maimon expressed confidence in the company's unique position and future growth.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:15 pm

PBF

Piper Sandler analyst Ryan Todd has downgraded PBF Energy from Overweight to Neutral and reduced the price target from $65 to $50.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:14 pm

CMC

Commercial Metals Co (NYSE:CMC) reported Q1 FY24 sales of $2.00 billion, surpassing consensus estimates of $1.89 billion. Despite a decrease in the average selling price for steel products and a drop in core EBITDA year-over-year, the company saw a slight increase in finished steel volumes and beat adjusted EPS estimates. CMC declared a quarterly dividend, repurchased shares, and expects robust construction activity to support demand. Shares rose by 7.27% to $51.72.

Portfolio Pulse from Lekha Gupta

January 08, 2024 | 3:12 pm

AXNX

BSX

Boston Scientific Corporation (NYSE:BSX) is set to acquire Axonics Inc (NASDAQ:AXNX) for $71 per share, totaling an enterprise value of $3.4 billion and an equity value of $3.7 billion. Axonics, which specializes in bladder disorder treatments, has reported a 34% revenue growth and expects $366 million in net revenue for 2023. The acquisition is expected to significantly benefit Boston Scientific's Urology business starting in 2024. The transaction has been unanimously approved by both companies' boards and is expected to close in the first half of 2024. Following the news, AXNX shares rose by 20.20%, while BSX shares saw a slight decline of 0.62%.

Portfolio Pulse from Vandana Singh

January 08, 2024 | 3:11 pm