Momentum Group (OTC:MMGRF) Stock, Quote.Headers.trade-ideas

Momentum Group AB operates, develops, and acquires successful sustainable companies in the Nordic region through active ownership with decentralized profit and business responsibility. The group consists of some companies that together constitute one of the Nordic region's key suppliers of industrial components, industrial services, and other related services in the industrial sector.

Momentum Group AB

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VERB

Verb Technology Shares Halted On Circuit Breaker To The Downside, Stock Now Up 80%

Verb Technology Shares Resume Trade

Wells Fargo analyst Praneeth Satish initiates coverage on Shoals Technologies Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>) with a Equal-Weight rating and announces Price Target of $46.

News

Price Target

Initiation

Analyst Ratings

SHLS

Wells Fargo Initiates Coverage On Shoals Technologies Gr with Equal-Weight Rating, Announces Price Target of $46

Verb Technology Shares Halted On Circuit Breaker To The Upside, Stock Now Up 103.9%

Wells Fargo analyst Daniel Politzer upgrades Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) from Equal-Weight to Overweight and raises the price target from $224 to $295.

Upgrades

FLUT

Wells Fargo Upgrades Flutter Entertainment to Overweight, Raises Price Target to $295

Denmark-based H. Lundbeck A/S on Monday agreed to acquire Longboard Pharmaceuticals, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBPH#NASDAQ">LBPH</a>) for <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41309643/lundbeck-to-acquire-longboard-pharmaceuticals-in-a-strategic-deal-significantly-enhancing-its-neur" rel="noreferrer noopener">$60.00 per share in cash</a>.
The transaction is valued at approximately $2.6 billion in equity value and $2.5 billion (approximately 17 billion Danish krone) net of cash on a fully diluted basis.
The M&amp;A transaction is expected to close in the fourth quarter of 2024.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40801420/longboard-pharmaceuticals-boasts-high-value-epilepsy-assets-analyst-initiates-cover" rel="noreferrer noopener">Longboard Pharmaceuticals Boasts High-Value Epilepsy Assets, Analyst Initiates Coverage</a>.
Longboard is a clinical-stage biopharmaceutical company focused on developing medicines for neurological diseases.
The company&#8217;s lead asset, bexicaserin is under development for <a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36451590/neurology-focused-longboard-pharmaceuticals-stock-soars-over-200-today-heres-why" rel="noreferrer noopener">several neurological indications</a>.
Last month, the company released interim results from its ongoing 52-week open-label extension of the PACIFIC Study evaluating bexicaserin (LP352) in participants ages 12-65 with Developmental and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40763452/longboard-pharmaceuticals-announces-positive-interim-analysis-results-from-the-open-label-extensio" rel="noreferrer noopener">Epileptic Encephalopathies (DEEs)</a>.
Recently, bexicaserin received FDA Rare Pediatric Disease designation and Orphan Drug designation <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40937375/longboard-pharmaceuticals-receives-rare-pediatric-disease-designation-and-orphan-drug-designation-" rel="noreferrer noopener">for Dravet syndrome</a>.
The company initiated a global Phase 3 DEEp SEA Study with bexicaserin for seizures associated with Dravet syndrome in participants two years of <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41045315/longboard-pharmaceuticals-initiates-phase-3-deep-sea-study-evaluating-bexicaserin-in-dravet-syndro" rel="noreferrer noopener">age and older</a>.
The bexicaserin asset complements Lundbeck&#8217;s mid-to-late-stage pipeline and diversifies revenue growth following its expected launch in the fourth quarter of 2028. Lundbeck estimates the global peak sales potential between $1.5 billion and $2 billion.
Following the closing of the transaction, Lundbeck will focus on de-leveraging, and leverage is expected to be in Lundbeck&#8217;s target range of &lt;2.5x NIBD/EBITDA within 18-24 months.
The company expects to recognize integration costs of ~$80 million (approximately 550 million Danish krone), which predominantly will impact 2024 and will be adjusted for in Adjusted EBITDA.
Price Action: At last check on Monday, LBPH stock was up 51.3% to $58.84 during the premarket session.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41310010/listeria-scare-prompts-albertsons-to-recall-certain-ready-to-eat-meals-in-multiple-states" target="_blank" rel="noreferrer noopener">Listeria Scare Prompts Albertsons To Recall Certain Ready-To-Eat Meals In Multiple States</a>.</li>
</ul>
Image via Longboard Pharmaceuticals

Biotech

Health Care

Movers

General

LBPH

Why Is Epilepsy Focused Longboard Pharmaceuticals Stock Trading Higher On Monday?

Wells Fargo analyst Ike Boruchow downgrades Amer Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) from Overweight to Equal-Weight and raises the price target from $17 to $19.

Downgrades

Wells Fargo Downgrades Amer Sports to Equal-Weight, Raises Price Target to $19

Small Cap Consumer Research analyst Eric Beder reiterates Betterware de Mexico SAPI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWMX#NYSE">BWMX</a>) with a Buy and maintains $22.5 price target.

Reiteration

BWMX

Small Cap Consumer Research Reiterates Buy on Betterware de Mexico SAPI, Maintains $22.5 Price Target

Wells Fargo analyst Ike Boruchow downgrades Canada Goose Hldgs (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GOOS#TSX">GOOS</a>) from Equal-Weight to Underweight.

TSX:GOOS

Wells Fargo Downgrades Canada Goose Hldgs to Underweight

SoFi Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) shares are trading higher Monday after the company announced a $2 billion loan agreement with <a href="https://www.benzinga.com/pressreleases/24/10/b41310808/sofi-expands-loan-platform-business-with-2-billion-agreement-with-fortress-investment-group">Fortress Investment Group</a>.
What Happened: SoFi has announced a&nbsp;$2 billion&nbsp;loan platform business agreement for personal loans with funds managed by affiliates of Fortress Investment Group. 
The agreement is expected to expand SoFi&#8217;s capabilities in its loan platform business. SoFI refers pre-qualified borrowers to loan origination partners and originates loans on behalf of third parties.
&#8220;SoFi&#8217;s loan platform business is an important part of our strategy to serve the financial needs of more members and diversify toward less capital-intensive and more fee-based sources of revenue,&#8221; said Anthony Noto, CEO of SoFi. 
See Also: <a href="https://www.benzinga.com/fintech/24/10/41295297/whats-going-on-with-sofi-technologies-stock">What&#8217;s Going On With SoFi Technologies Stock?</a>
<h2 class="wp-block-heading">Is SOFI A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/SOFI">SoFi</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. SoFi does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/SOFI">SoFi</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
SOFI Price Action: <a href="http://benzinga.com/quote/sofi">SoFi shares</a> were up 4.88% at $9.45 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Contracts

SOFI

SoFi Technologies Stock Is Surging Monday: What's Going On?

Stifel analyst Jim Duffy maintains VF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) with a Buy and raises the price target from $21 to $25.

Stifel Maintains Buy on VF, Raises Price Target to $25

Management

STLA

Stellantis CEO Tavares Says As CEO And Board Member I Will Make Suggestions And Be Part Of Decision Process To Chose My Successor

Sunrise New Energy Co., Ltd. ("Sunrise", the "Company", "we" or "our") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPOW#NASDAQ">EPOW</a>), today announced its "Key Technologies and Engineering for New Silicon-Carbon Anode Materials in Lithium-Ion Batteries" project officially received approval from the expert panel of the Guizhou Provincial Department of Science and Technology. Following multiple rounds of evaluations, the project was granted a special technology fund of USD 1.04 million.
The project stands out for its advanced technology, with a specific capacity of ≥1900mAh/g, a first coulomb efficiency of ≥91%, and a long cycle life of 1000 cycles with a capacity retention rate of ≥80%. These features place the project at the forefront of global battery technology and promise to support a major breakthrough in solid-state battery performance.

Sunrise New Energy Co., Ltd - Ordinary Shares

EPOW

Sunrise Secures $1.04M In Funding For Innovative Silicon-Carbon Anode Project After Receiving Approval From The Expert Panel Of The Guizhou Provincial Department Of Science And Technology

Stifel analyst Mark Kelley maintains Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) with a Buy and raises the price target from $111 to $136.

Stifel Maintains Buy on Trade Desk, Raises Price Target to $136

Wedbush analyst David Chiaverini upgrades Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) from Underperform to Neutral and raises the price target from $25 to $45.

AFRM

Wedbush Upgrades Affirm Holdings to Neutral, Raises Price Target to $45

Legal

Global

Senior EU Official Says EU Has Received Electric Vehicle Price Undertaking Offers From Chinese Chamber Of Commerce And From Separate EV Exporters; It Seems Very, Very Difficult To Reach An Agreement By The End Of October, When EU Investigation Ends; A Single Minimum Price As Alternative To Tariffs For Chinese Electric Vehicles Would Not Work

As the digital assets space continues to evolve, many have noted the gap <a href="https://www.benzinga.com/topic/crypto">between investment in crypto</a> and the widespread adoption of consumer-facing applications. Anthony Moro, CEO of Provenance Blockchain Labs, provided his perspective on these challenges ahead of his appearance at the <a href="https://www.benzinga.com/digital-assets">Benzinga Future of Digital Assets Conference.</a>
<h3 class="wp-block-heading">Crypto Adoption: Overcoming Business and Operational Hurdles</h3>
Moro highlighted several obstacles when asked why crypto applications have not seen the adoption levels many initially expected. "Historically, there's usually been some trepidation from more conservative businesses regarding regulation and investor protections in crypto, [but] that's not there as much anymore. The obstacle is now more of a business and operational one," Moro said.
He pointed out that companies must align on which areas are most ready for blockchain disruption. "For instance, highly intermediated financial sectors, such as consumer lending and the securitization of loan portfolios (such as mortgages), were obvious areas—and both have flourished on the Provenance Blockchain," he said. Moro emphasized that some sectors, like insurance tokenization, have been slower to adopt but ultimately see clear benefits once they do.
<h3 class="wp-block-heading">Success in Tokenizing Insurance</h3>
One notable example Moro highlighted was Provenance Blockchain's collaboration with Infineo, a company that brought life insurance policies onto the blockchain. "ProvLabs recently helped incubate a company called Infineo to tokenize life insurance policies—that was a first of its kind," Moro said. He added that with over $190 million minted on-chain by September, it has been a noteworthy success in showcasing the practical benefits of blockchain.
<h3 class="wp-block-heading">The Knowledge Gap In Blockchain Adoption</h3>
Another major hurdle, according to Moro, is the need for companies to acquire knowledge and expertise in blockchain technology. &#8220;There's a lot of education and knowledge acquisition that goes into transitioning a business function to a blockchain—especially if it&#8217;s a prominent and legacy part of the business,&#8221; he said. Many companies are not yet equipped or budgeted to handle this transition, so ProvLabs provides solutions.
"We take the burden off their shoulders with SaaS solutions that their web 2.0 applications can plug right into," Moro said, explaining how his company helps traditional businesses bridge the gap to blockchain integration.
Join industry leaders like Anthony Moro at the <a href="https://www.benzinga.com/digital-assets">Benzinga Future of Digital Assets conference</a> to hear more about the future of digital assets and the challenges shaping the industry.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41297376/bitcoin-will-hit-250k-raoul-pal-says-why-the-gurus-top-5-crypto-predictions-matter-if-your">Bitcoin Will Hit $250K, Raoul Pal Says: Why The Guru&#8217;s Top 5 Crypto Predictions Matter If &#8216;You&#8217;re A Wage Slave&#8217;</a></li>
</ul>
Image via Unsplash

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Events

Exclusives

Interview

Why Crypto Apps Are Struggling: Expert Says Operational Hurdles, Not Just Regulation, Are To Blame

SiriusXM Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>) shares are trading higher Monday after Warren Buffett&#8217;s Berkshire Hathaway further increased its <a href="https://www.benzinga.com/startups/24/09/41056284/whats-driving-warren-buffetts-massive-investment-in-sirius-xms-8b-market-cap">stake in the company</a>.
What Happened: According to a regulatory filing from late last week, Berkshire recently purchased 3,564,059 shares of Sirius XM stock at an average price of $24.33 per share. 
The purchases were made from Oct. 9 to Oct. 11 at prices ranging from $22.96 to $25.14 per share for a total of approximately $87 million. Berkshire owned a total of 108,719,088 shares of SiriusXM as of Oct. 11, representing a 32% stake in the company. 
SiriusXM shares are down about 54% since the start of the year as the company battles subscriber growth headwinds and stalled revenue growth. In its most recent quarter, SiriusXM said revenue fell 3% to $2.18 billion as self-pay subscribers decreased by approximately 100,000. 
SiriusXM is due to report <a href="https://www.benzinga.com/calendars/earnings">third-quarter financial results</a> at the end of the month. Analysts currently expect the company to report earnings of 78 cents per share and revenue of $2.192 billion, according to estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Last week, JP Morgan analyst Sebastiano Petti reinstated Sirius XM with an <a href="https://www.benzinga.com/analyst-stock-ratings">Underweight rating</a> and announced a price target of&nbsp;$20. Benchmark analyst Matthew Harrigan maintained Sirius XM with a Buy and lowered the price target from&nbsp;$65&nbsp;to&nbsp;$43.
Don&#8217;t Miss: <a href="https://www.benzinga.com/news/24/10/41168649/warren-buffetts-billion-dollar-lesson-its-very-irritating-if-you-have-a-lot-of-money-in-the-end-you">Warren Buffett&#8217;s Billion-Dollar Lesson: &#8216;It&#8217;s Very Irritating If You Have A Lot Of Money&#8217; — In The End, You Can&#8217;t Buy Love</a>
SIRI Price Action: <a href="http://benzinga.com/quote/siri">SiriusXM shares</a> were up 5.21% at $26.23 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

SIRI

SiriusXM Holdings Stock Is Rising Monday: What's Going On?

Wells Fargo analyst Ike Boruchow downgrades VF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) from Equal-Weight to Underweight and lowers the price target from $16 to $15.

Wells Fargo Downgrades VF to Underweight, Lowers Price Target to $15

INVO Bioscience ("INVO") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVO#NASDAQ">INVO</a>) today announced it has closed its merger with NAYA Biosciences, a company dedicated to increasing patient access to breakthrough treatments in oncology and autoimmune diseases. The combined company expects to change its name to NAYA Biosciences and trade on the NASDAQ under the "NAYA" ticker. The combined company will continue to operate the revenue-generating fertility business as well as expand its focus to the development of first-in-class clinical-stage assets in oncology and autoimmune diseases. &nbsp;
The combined company will be led by INVO Chief Executive Officer Steve Shum, INVO Chief Financial Officer Andrea Goren, and Dr. Daniel Teper, founder and former CEO of NAYA Biosciences, who will be appointed as President of the combined company and Chief Executive Officer of the NAYA Therapeutics subsidiary. Dr. Teper has over 30 years of strategic leadership experience as a biopharma entrepreneur, corporate executive, and management consultant. Two members of NAYA's board, Dr. Teper and Ms. Lyn Falconio, will join the combined company's board alongside INVO's current board members.

INVO

INVO Bioscience and NAYA Biosciences Close Merger, The Combined Company Expects To Change Its Name To Naya Biosciences And Trade On The Nasdaq Under The "NAYA" Ticker

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Momentum Group (OTC:MMGRF) Stock, Quote.Headers.trade-ideas