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QIPT

Benchmark analyst Bill Sutherland has reiterated a Buy rating on Quipt Home Medical (NASDAQ:QIPT) and maintained a $10 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 3:48 pm

ACRS

Aclaris Therapeutics Inc (NASDAQ:ACRS) reported Phase 2a trial results of ATI-1777 for atopic dermatitis, showing improvement with minimal systemic exposure. The company is advancing ATI-1777 into a Phase 2b trial, with results expected in January 2024. Aclaris is also redirecting its focus to zunsemetinib for potential cancer treatments and reassessing ATI-2138's pathway due to competition in ulcerative colitis. A workforce reduction of 46% is planned to preserve capital following the discontinuation of ATI-450 for immuno-inflammatory diseases. ACRS stock dropped 16.70% to $0.85.

Portfolio Pulse from Vandana Singh

December 20, 2023 | 3:48 pm

AZO

AutoZone Inc. (NYSE:AZO) shares have dropped by 0.45% in the current session to $2637.36, reflecting a 0.94% decline over the past month, despite a 10.10% increase over the past year. The company's P/E ratio is lower than the Specialty Retail industry average, which could suggest that the stock is undervalued or that shareholders have lower growth expectations.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 3:45 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) shares rose after a 1-for-10 share consolidation to meet Nasdaq's minimum bid requirement. The company also divested its This Works skincare brand to Inspirit Capital for up to £9.3 million. The CEO, David Klein, stated the sale is part of Canopy Growth's focus on achieving North American cannabis market leadership and transforming into a simplified, asset-light, cannabis-focused business. The stock is up 3.91% at $5.40.

Portfolio Pulse from Erica Kollmann

December 20, 2023 | 3:42 pm

GMBL

Esports Entertainment Group, Inc. (NASDAQ:GMBL) shares dropped 26% to $0.0151 after announcing a 1-for-400 reverse stock split to meet Nasdaq listing requirements. The split will reduce outstanding shares from 426 million to approximately 1.065 million and will also decrease authorized shares from 500 million to 1.25 million. Ownership percentages remain unchanged, though fractional shares will be rounded up. GMBL's 52-week range is $0.01 to $23.80.

Portfolio Pulse from Henry Khederian

December 20, 2023 | 3:36 pm

LUV

Southwest Airlines Company (NYSE:LUV) pilots have reached an Agreement in Principle (AIP) for a new five-year contract worth $12 billion after over three years of negotiations. The Southwest Airlines Pilots Association (SWAPA) represents over 11,000 pilots. The agreement is pending evaluation by SWAPA's board and a vote by the pilot membership. LUV shares were trading higher by 0.73% at $29.56.

Portfolio Pulse from Lekha Gupta

December 20, 2023 | 3:35 pm

GMBL

Esports Entertainment Group's stock (GMBL) is trading lower following the announcement of a 1-for-400 reverse stock split. This corporate action is often used by companies to boost their share price to meet exchange listing requirements or to attract new investors by making the stock price appear more valuable.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 3:34 pm

GMBL

Esports Entertainment Group, Inc. (NASDAQ:GMBL) announced a 1-for-400 reverse stock split effective December 21, 2023, to reduce outstanding shares from 426 million to approximately 1.065 million. The split aims to maintain compliance with Nasdaq's minimum equity listing requirements and will adjust terms for stock options, warrants, and convertible preferred stock. The company plans to seek stockholder approval to increase authorized shares at the annual meeting. No fractional shares will be issued, and shareholders will not need to take action as adjustments will be made automatically.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 3:33 pm

LIVE

Live Ventures Inc (NASDAQ: LIVE) reported a 23.8% increase in FY23 sales to $355.17 million, surpassing consensus estimates. Despite overall growth, the Retail Entertainment and Flooring Manufacturing segments saw revenue declines due to reduced demand. The Steel Manufacturing segment, however, grew by 46.7% primarily due to the acquisition of Kinetic. The company posted an EPS loss of $(0.03), missing the consensus of $2.85. Gross profit rose by 18.1%, but operating income dropped by 40.4% due to inflationary costs and higher expenses from recent acquisitions. Adjusted EBITDA increased by 8.3% to $9.6 million, attributed to acquisitions. The company ended the fiscal year with $37.1 million in cash availability. The FY24 revenue consensus is $421 million, and the stock has declined by 21% year-to-date. LIVE shares are up 1.50% at $25.70 in recent trading.

Portfolio Pulse from Anusuya Lahiri

December 20, 2023 | 3:32 pm

DFH

DHI

KBH

LEN

NVR

PHM

TMHC

TOL

Homebuilder stocks are experiencing momentum following the Federal Reserve's decision to maintain current key interest rates. This move has been beneficial for the housing sector, providing stability in a time of economic uncertainty. Homebuilders have adapted to the changing economy and market conditions, positioning them for growth in 2024. Stocks like NVR Inc., Taylor Morrison Home Corp., KB Home, PulteGroup Inc., D.R. Horton Inc., Toll Brothers Inc., Lennar Corp., and Dream Finders Homes Inc. have seen significant gains.

Portfolio Pulse from Chris Bibey

December 20, 2023 | 3:30 pm