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CMPO

JP Morgan analyst Reginald Smith has downgraded CompoSecure (NASDAQ:CMPO) from Overweight to Neutral and reduced the price target from $7 to $6.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:13 am

SCVL

Shoe Carnival, Inc. (NASDAQ:SCVL) has announced a new $50 million share repurchase program to commence on January 1, 2024, replacing the existing program set to expire on December 31, 2023. The company also declared a quarterly cash dividend of $0.12 per share, payable on January 22, 2024, to shareholders of record as of January 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:11 am

BFH

JP Morgan analyst Reginald Smith has downgraded Bread Finl Hldgs (NYSE:BFH) from Overweight to Neutral and reduced the price target from $42 to $36.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:11 am

EBF

Ennis, Inc. (NYSE:EBF) reported Q3 earnings of $0.38 per share, missing the consensus estimate of $0.42, a 13.64% decrease from last year's $0.44. Sales were $104.62M, surpassing the $102.40M estimate but marking a 5.10% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:10 am

X

Nippon Steel has agreed to an all-cash acquisition of U.S. Steel for an equity value of $14.1 billion, with the assumption of debt bringing the total enterprise value to $14.9 billion. The offer price of $55 per share is a 40% premium over U.S. Steel's closing stock price on December 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:06 am

SPY

Cleveland Fed President Loretta Mester commented that markets might be getting ahead of the central bank regarding expectations for rate cuts. This statement suggests that the Federal Reserve may not be as quick to cut rates as the market anticipates.

Portfolio Pulse from Charles Gross

December 18, 2023 | 11:06 am

EXC

Morgan Stanley analyst David Arcaro has downgraded Exelon (NASDAQ:EXC) from Overweight to Equal-Weight and reduced the price target from $45 to $38.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:04 am

X

Nippon Steel has announced an all-cash acquisition of U. S. Steel at $55.00 per share. This strategic move will likely have a significant impact on U. S. Steel's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:03 am

FWBI

SNY

First Wave BioPharma Inc (FWBI) plans to acquire ImmunogenX in an all-stock transaction to enhance its GI disease pipeline. The deal is expected to close in H1 2024. FWBI's CEO will remain, with ImmunogenX's CEO becoming CMO. FWBI anticipates non-dilutive funding from a strategic pharma company for latiglutenase's U.S. rights and investor commitments for development post-closing. Latiglutenase, for celiac disease, is set for Phase 3 trials in H2 2024. FWBI also licensed Capeserod from Sanofi SA (SNY) for GI uses and enacted a 1-for-20 reverse stock split.

Portfolio Pulse from Vandana Singh

December 18, 2023 | 11:00 am

QCOM

SFTBY

Arm Holdings Plc has laid off over 70 software engineers in China, reflecting the semiconductor industry's downturn. The layoffs at Arm, which is backed by SoftBank Group Corp., are part of a broader trend as companies like Qualcomm Inc. have also reduced their workforce. Arm's global sales share from China has decreased from 25% to 20%, and the company faces challenges from U.S. technology export restrictions to Chinese firms. Arm is also dealing with disputes with the former head of Arm China, which previously laid off over 100 employees.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 11:00 am