最新ニュース Burford Capital (NYSE:BUR) 株価情報

Burford Capital

Burford Capital Ltd is a finance firm providing litigation finance, insurance, and risk transfer, law firm lending, corporate intelligence and judgment enforcement, and a wide range of investment activities. It operates in two segments: Capital provision, which is the provision of capital to the legal industry or in connection with legal matters, both directly and through investment in the group's managed funds; Asset management and other services, which includes the provision of services to the legal industry, including litigation insurance; and other corporate. The geographical segments include the United States, United Kingdom, Singapore, Hong Kong, China, and, Australia.

Burford Capital Ltd

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U.S. stock futures were higher this morning, with the Dow futures gaining around 100 points on Thursday.
Shares of CommScope Holding Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMM#NASDAQ">COMM</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/COMM/earnings">third-quarter financial results</a>.
CommScope posted a quarterly loss of 5 cents per share, compared to market estimates of 31 cents per share. The company posted sales of $1.082 billion versus expectations of $1.422 billion.
CommScope shares dipped 47.5% to $3.65 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>Digital Turbine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPS#NASDAQ">APPS</a>) shares tumbled 41.1% to $1.91 in pre-market trading after reporting downbeat quarterly results.</li>
<li>Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) shares fell 24.5% to $10.35 in pre-market trading after the company reported third-quarter financial results.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) declined 19% to $11.89 in pre-market trading following third-quarter results.</li>
<li>Corsair Gaming Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSR#NASDAQ">CRSR</a>) fell 14.1% to $6.12 in today's pre-market trading after the company reported worse-than-expected financial results.</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) fell 12.8% to $33.00 in pre-market trading following mixed third-quarter financial results.</li>
<li>Krispy Kreme, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNUT#NASDAQ">DNUT</a>) fell 12.6% to $10.85 in pre-market trading after the company reported worse-than-expected third-quarter EPS and sales.</li>
<li>Burford Capital Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) dipped 12.1% to $12.85 in pre-market trading after gaining 6% on Wednesday.</li>
<li>MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) shares dipped 8.6% to $1,936.13 in pre-market trading following third-quarter results.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41776764/jim-cramer-this-financial-stock-is-a-buy-likes-broadcom">Jim Cramer: This Financial Stock Is A Buy, Likes Broadcom</a></li>
</ul>

News

Pre-Market Outlook

Markets

Movers

Trading Ideas

APPS

COMM

CRSR

DNUT

MELI

MTCH

SEDG

WOLF

CommScope Holding Posts Downbeat Results, Joins Match Group, Krispy Kreme And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Burford Capital Limited, the leading global finance and asset management firm focused on law, has noted inaccurate media reporting and subsequent market reaction to an expected court filing last night by the U.S. Department of Justice ("DOJ") in the Petersen and Eton Park matters. The filing in the U.S. District Court for the Southern District of New York restates DOJ's position on a narrow question of law in relation to enforcement of judgments. The filing pertains to one motion filed in the Petersen and Eton Park matters as part of the overall, ongoing effort to enforce the judgment against the Argentine Republic. The filing does not reflect DOJ's taking any broader position on the overall case or the enforcement campaign; indeed, DOJ has previously taken the position that pursuing Argentina in the US courts for its breach of contract in this matter was appropriate, and DOJ has not made any filing at all on the pending appeal (and the time to do so has passed). In its filing, DOJ took the view that Argentina could not be required by a U.S. court to move property presently located in Argentina into the United States so it could there be attached for creditors under New York law, which is an unsettled legal issue. The DOJ view is not binding on the court and further briefing and proceedings will ensue. The Company will provide a further update on the Petersen and Eton Park matters during today's earnings call.

Legal

Burford Capital Highlights Inaccurate Media Reports On DOJ Court Filing In Petersen, Eton Park Cases; Filing Focuses on Legal Enforcement Issue, Not Broader Case; DOJ States Argentina's Property Cannot Be Moved To U.S. For Creditor Attachment; The DOJ View Is Not Binding On The Court And Further Briefing And Proceedings Will Ensue

Burford Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) reported quarterly earnings of $0.61 per share which missed the analyst consensus estimate of $0.92 by 33.7 percent. The company reported quarterly sales of $249.114 million which missed the analyst consensus estimate of $393.893 million by 36.76 percent. This is a 32.47 percent decrease over sales of $368.873 million the same period last year.

Earnings

Earnings Misses

Burford Capital Q3 2024 GAAP EPS $0.61 Misses $0.92 Estimate, Sales $249.114M Miss $393.893M Estimate

Shares of Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) rose sharply in today's pre-market trading after the company reported <a href="https://www.benzinga.com/news/earnings/24/11/41789162/lyft-stock-drives-higher-after-better-than-expected-q3-results">better-than-expected quarterly results.</a>
Lyft reported quarterly losses of three cents per share which beat the analyst consensus estimate for losses of four cents. Quarterly revenue came in at $1.52 billion which beat the analyst consensus estimate of $1.44 billion and is an increase over sales of $1.15 billion from the same period last year.
Lyft shares rose 21.5% to $17.49 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>AtlasClear Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NYSE">ATCH</a>) gained 89.6% to $0.3412 in pre-market trading after gaining around 13% on Wednesday.</li>
<li>Interactive Strength Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) rose 81.5% to $0.1650 in pre-market trading. Interactive Strength will release third quarter results before the market opens on Thursday, Nov. 14.</li>
<li>MDJM Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDJH#NASDAQ">MDJH</a>) shares surged 49.7% to $0.2252 in pre-market trading after declining around 6% on Wednesday.</li>
<li>Ensysce Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENSC#NASDAQ">ENSC</a>) gained 32.6% to $0.7305 in pre-market trading after gaining 5% on Wednesday.</li>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) climbed 27.5% to $214.84 in pre-market trading after the company reported better-than-expected third-quarter financial results.</li>
<li>Laird Superfood, Inc.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSF#NYSE">LSF</a>) shares rose 22% to $8.99 in pre-market trading after the company reported better-than-expected third-quarter financial results.</li>
<li>Emergent BioSolutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>) gained 19.8% to $11.03 in pre-market trading after posting strong quarterly earnings.</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) gained 17.7% to $15.40 in pre-market trading following better-than-expected quarterly earnings.</li>
<li>The Oncology Institute, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOI#NASDAQ">TOI</a>) gained 17.6% to $0.3469 in pre-market trading. The Oncology Institute will release its third quarter financial results after the market close on Wednesday, Nov. 13.</li>
<li>Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>) gained 15.8% to $40.49 in pre-market trading following strong quarterly results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Digital Turbine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPS#NASDAQ">APPS</a>) shares tumbled 41.1% to $1.91 in pre-market trading after reporting downbeat quarterly results.</li>
<li>FOXO Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXO#NASDAQ">FOXO</a>) shares fell 32% to $0.5321 in pre-market trading after surging 475% on Wednesday.</li>
<li>Cardlytics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>) dipped 31.9% to $3.55 in pre-market trading following third-quarter results.</li>
<li>Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) shares fell 24.5% to $10.35 in pre-market trading after the company reported third-quarter financial results.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) declined 19% to $11.89 in pre-market trading following third-quarter results.</li>
<li>Burford Capital Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) shares dipped 16.4% to $12.21 in pre-market trading. Burford Capital will release its financial results for the three and nine months ended Sept. 30, on Thursday, Nov. 7.</li>
<li>ARB IOT Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBB#NASDAQ">ARBB</a>) fell 15.4% to $0.6879 in pre-market trading after surging 44% on Wednesday.</li>
<li>Corsair Gaming Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSR#NASDAQ">CRSR</a>) fell 14.1% to $6.12 in today's pre-market trading after the company reported worse-than-expected financial results.</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) fell 12.8% to $33.00 in pre-market trading following mixed third-quarter financial results.</li>
<li>Sutro Biopharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRO#NASDAQ">STRO</a>) fell 11.6% to $3.66 in pre-market trading after gaining around 8% on Wednesday.</li>
</ul>
Now Read This:
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<li> <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41776764/jim-cramer-this-financial-stock-is-a-buy-likes-broadcom">Jim Cramer: This Financial Stock Is A Buy, Likes Broadcom</a></li>
</ul>

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ATCH

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Why Lyft Shares Are Trading Higher By Over 21%; Here Are 20 Stocks Moving Premarket

Deutsche Bank analyst Mark Devries initiates coverage on Burford Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) with a Buy rating and announces Price Target of $18.

Price Target

Initiation

Analyst Ratings

Deutsche Bank Initiates Coverage On Burford Capital with Buy Rating, Announces Price Target of $18

Burford Capital Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bur#NASDAQ">BUR</a>) closed the last trading session at $13.51, gaining 3.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $20.17 indicates a 49.3% upside potential.
The average comprises three short-term price targets ranging from a low of $18 to a high of $22.50, with a standard deviation of $2.25. While the lowest estimate indicates an increase of 33.2% from the current price level, the most optimistic estimate points to a 66.5% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
But, for BUR, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company&#39;s ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn&#39;t gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
<h2>Here&#39;s What You May Not Know About Analysts&#39; Price Targets</h2>
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company&#39;s fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock&#39;s price movement. While that doesn&#39;t necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
<h2>Here&#39;s Why There Could be Plenty of Upside Left in BUR</h2>
Analysts&#39; growing optimism over the company&#39;s earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That&#39;s because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 4.8% over the past month, as one estimate has gone higher compared to no negative revision.
Moreover, BUR currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock&#39;s potential upside in the near term.
Therefore, while the consensus price target may not be a reliable indicator of how much BUR could gain, the direction of price movement it implies does appear to be a good guide.
<a href="https://www.zacks.com/stock/news/2330341/wall-street-analysts-see-a-49-3-upside-in-burford-capital-bur-can-the-stock-really-move-this-high?cid=CS-BENZ-FT-tale_of_the_tape|consensus_price_target-2330341">To read this article on Zacks.com click here.</a>

Wall Street Analysts See a 49.3% Upside in Burford Capital: Can the Stock Really Move This High?

Wedbush analyst David Chiaverini reiterates Burford Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) with a Outperform and maintains $18 price target.

Reiteration

Wedbush Reiterates Outperform on Burford Capital, Maintains $18 Price Target

Burford Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) reported quarterly earnings of $0.24 per share which missed the analyst consensus estimate of $0.34 by 29.41 percent. This is a 340 percent increase over losses of $(0.10) per share from the same period last year. The company reported quarterly sales of $159.653 million which beat the analyst consensus estimate of $153.000 million by 4.35 percent. This is a 258.36 percent increase over sales of $44.551 million the same period last year.

Earnings Beats

Burford Capital Q2 2024 GAAP EPS $0.24 Misses $0.34 Estimate, Sales $159.653M Beat $153.000M Estimate

WIIM

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FUTU

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SHFS

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Shares of companies within the broader financial sector are trading lower amid overall weakness following concerns about recently issued US economic data.

Rumors

Watching Burford Capital; Traders Circulate Jefferies Note Saying 'Sundance Resources Has Announced A Conditional Settlement With The Republic Of Congo. The Settlement Would Bring To An End A Dispute Before The ICA, Expected To Be Final By The End Of Q3; Terms Are Confidential, But We Believe The Original Claim To Be For Over $8.5B. Burford Has Been Funding The Arbitration Process And This Would Likely Lead To A Realized Gain On Its Investment'

Burford Capital, the leading global finance firm focused on law, is expected to join the broad-market Russell 3000&#xAE; and small-cap Russell 2000&#xAE; Indexes at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective after the US market opens on July 1, 2024, according to a preliminary list of additions posted on May 24, 2024. Burford is the first <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4176125-1&amp;h=2763799575&amp;u=https%3A%2F%2Fwww.burfordcapital.com%2Fintroduction-to-legal-finance%2F%3Futm_source%3Dpress%26utm_medium%3Dhp%26utm_content%3Dpress%26utm_term%3Dintroduction-to-legal-finance%26utm_campaign%3D2024_press&amp;a=legal+finance">legal finance</a> firm to be listed on the New York Stock Exchange and the first legal finance firm expected to join the Russell 3000&#xAE; and 2000&#xAE; Indexes. Legal finance is an emerging asset class generally uncorrelated to market conditions or the performance of the overall economy.

Burford Capital Expected To Join Russell 3000 And 2000 Indexes  At The Conclusion Of The 2024 Russell U.S. Indexes Annual Reconstitution

U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 20 points on Tuesday.
Shares of TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) fell sharply in today's pre-market trading after the company reported downbeat results for its <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38802344/bitcoin-miner-terawulf-reports-worse-than-expected-q1-results">first quarter on Monday</a>.
The Bitcoin mining company reported quarterly losses of 3 cents per share which missed the analyst consensus estimate of earnings of 4 cents per share. Quarterly revenue came in at $42.433 million, missing the analyst consensus estimate of $51.092 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
TeraWulf shares tumbled 9.3% to $2.03 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) shares declined 9.3% to $15.10 in pre-market trading after the company reported first-quarter financial results.</li>
<li>TMC the metals company Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMC#NASDAQ">TMC</a>) shares fell 8.6% to $1.39 in pre-market trading after the company reported first-quarter financial results.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) shares fell 6% to $4.56 in pre-market trading after surging 31% on Monday.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) shares declined 4.7% to $3.43 in pre-market trading after surging 11% on Monday.</li>
<li>Cognyte Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGNT#NASDAQ">CGNT</a>) shares declined 4% to $7.37 in pre-market trading.</li>
<li>Ginkgo Bioworks Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNA#NYSE">DNA</a>) shares fell 3.5% to $0.8117 in pre-market trading. Ginkgo Bioworks received a notice of continued listing standard notice from the NYSE.</li>
<li>Maplebear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) shares declined 3.4% to $33.56 in pre-market trading. Maplebear, last week, posted first-quarter financial results.</li>
<li>Burford Capital Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) fell 3% to $14.07 in pre-market trading following a 6% decline on Monday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38807214/investor-optimism-improves-but-dow-snaps-8-session-winning-streak">Investor Optimism Improves, But Dow Snaps 8-Session Winning Streak</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

CART

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TeraWulf Posts Weak Results, Joins StoneCo And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 50 points on Monday.
Shares of Seritage Growth Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRG#NYSE">SRG</a>) fell sharply in today's pre-market trading after the company reported a <a href="https://www.benzinga.com/quote/SRG/earnings">loss for the first quarter</a>.
The company posted a quarterly loss of 36 cents per share, versus a year-ago loss of $1.13 per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Seritage Growth Properties shares dipped 23.6% to $7.12 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Vitesse Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTS#NYSE">VTS</a>) shares declined 10.2% to $21.64 in pre-market trading. Vitesse Energy, last week, posted downbeat quarterly earnings.</li>
<li>Chimera Investment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIM#NYSE">CIM</a>) shares fell 6.3% to $4.32 in pre-market trading. Chimera Investment announced a 1-for-3 reverse stock split.</li>
<li>Fortrea Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTRE#NASDAQ">FTRE</a>) shares declined 6% to $31.06 in pre-market trading after the company reported soft first-quarter results and cut its revenue outlook.</li>
<li>Mesoblast Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) shares declined 3.7% to $7.09 in pre-market trading after gaining around 3% on Friday.</li>
<li>Mind Medicine (MindMed) Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNMD#NASDAQ">MNMD</a>) shares fell 3.7% to $8.92 in pre-market trading.</li>
<li>MKS Instruments Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKSI#NASDAQ">MKSI</a>) shares declined 3.4% to $126.02 in pre-market trading as the company reported a proposed private offering of $1 billion of convertible senior notes.</li>
<li>Korea Electric Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEP#NYSE">KEP</a>) shares fell 3.3% to $7.29 in pre-market trading after declining 7% on Friday.</li>
<li>PENN Entertainment Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) shares slipped 3% to $15.61 in pre-market trading. B of A Securities analyst Shaun Kelley downgraded PENN Entertainment from Buy to Neutral and lowered the price target from $28 to $17.5.</li>
<li>Burford Capital Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) shares slipped 2.5% to $15.05 in pre-market trading after reporting first-quarter results.</li>
</ul>
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Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

FTRE

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MKSI

MNMD

PENN

Seritage Growth Properties Posts Q1 Loss, Joins Fortrea Holdings And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Burford Announces That, In Connection With The Burford Capital 2016 Long Term Incentive Plan, It Has On April 8, 2024 Issued 533,066 New Ordinary Shares

Burford Capital shares are trading higher after the company reported better-than-expected FY23 financial results.

Burford Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) reported quarterly earnings of $2.74 per share which beat the analyst consensus estimate of $2.17 by 26.27 percent. The company reported quarterly sales of $1.087 billion which beat the analyst consensus estimate of $772.600 million by 40.69 percent. This is a 240.51 percent increase over sales of $319.227 million the same period last year.

Burford Capital FY 2023 GAAP EPS $2.74 Beats $2.17 Estimate, Sales $1.087B Beat $772.600M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Pharming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) is projected to report earnings for its fourth quarter.
&bull; ImmunoPrecise Antibodies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPA#NASDAQ">IPA</a>) is likely to report quarterly loss at $0.07 per share on revenue of $4.50 million.
&bull; G-III Apparel Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIII#NASDAQ">GIII</a>) is projected to report quarterly earnings at $0.67 per share on revenue of $817.48 million.
&bull; Dick&#39;s Sporting Goods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) is estimated to report quarterly earnings at $3.35 per share on revenue of $3.80 billion.
&bull; Protalix BioTherapeutics (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/PLX#AMEX">PLX</a>) is likely to report quarterly loss at $0.03 per share on revenue of $5.80 million.
&bull; Hello Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOMO#NASDAQ">MOMO</a>) is likely to report quarterly earnings at $0.34 per share on revenue of $405.61 million.
&bull; Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $455.09 million.
&bull; Futu Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>) is projected to report quarterly earnings at $0.96 per share on revenue of $331.79 million.
&bull; Akebia Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKBA#NASDAQ">AKBA</a>) is expected to report quarterly loss at $0.04 per share on revenue of $55.39 million.
&bull; Kandi Technologies Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNDI#NASDAQ">KNDI</a>) is projected to report earnings for its fourth quarter.
&bull; Benson Hill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHIL#NYSE">BHIL</a>) is estimated to report quarterly loss at $0.17 per share on revenue of $87.30 million.
&bull; KE Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>) is likely to report quarterly earnings at $0.18 per share on revenue of $2.63 billion.
&bull; Dollar Gen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) is expected to report quarterly earnings at $1.75 per share on revenue of $9.78 billion.
&bull; Hudson Glb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSON#NASDAQ">HSON</a>) is estimated to report quarterly earnings at $0.20 per share on revenue of $38.02 million.
&bull; InfuSystems Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INFU#AMEX">INFU</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $30.00 million.
&bull; HF Foods Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HFFG#NASDAQ">HFFG</a>) is likely to report earnings for its fourth quarter.
&bull; Burford Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) is estimated to report earnings for its Fiscal Year 2023.
&bull; Ucloudlink Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCL#NASDAQ">UCL</a>) is expected to report quarterly earnings at $0.05 per share on revenue of $23.60 million.
&bull; Xunlei (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XNET#NASDAQ">XNET</a>) is likely to report earnings for its fourth quarter.
&bull; Build-A-Bear Workshop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBW#NYSE">BBW</a>) is projected to report quarterly earnings at $1.32 per share on revenue of $150.45 million.
&bull; Global X Guru Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GURU#NYSE">GURU</a>) is projected to report quarterly loss at $0.05 per share on revenue of $6.85 million.
&bull; Century Casinos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTY#NASDAQ">CNTY</a>) is expected to report quarterly loss at $0.36 per share on revenue of $142.31 million.
&bull; Katapult Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KPLT#NASDAQ">KPLT</a>) is expected to report quarterly loss at $1.79 per share on revenue of $55.81 million.
&bull; UroGen Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URGN#NASDAQ">URGN</a>) is estimated to report quarterly loss at $0.68 per share on revenue of $22.57 million.
&bull; Agenus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGEN#NASDAQ">AGEN</a>) is projected to report quarterly loss at $0.05 per share on revenue of $47.05 million.
&bull; RumbleON (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBL#NASDAQ">RMBL</a>) is estimated to report quarterly loss at $0.51 per share on revenue of $339.48 million.
&bull; Alarum Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAR#NASDAQ">ALAR</a>) is expected to report quarterly earnings at $0.25 per share on revenue of $7.00 million.
&bull; Autolus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUTL#NASDAQ">AUTL</a>) is estimated to report quarterly loss at $0.25 per share on revenue of $360 thousand.
&bull; United Homes Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UHG#NASDAQ">UHG</a>) is projected to report earnings for its first quarter.
&bull; BK Technologies (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BKTI#AMEX">BKTI</a>) is likely to report earnings for its fourth quarter.
&bull; Solo Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTC#NYSE">DTC</a>) is expected to report quarterly earnings at $0.17 per share on revenue of $166.15 million.
&bull; Mondee Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOND#NASDAQ">MOND</a>) is likely to report quarterly loss at $0.12 per share on revenue of $55.00 million.
&bull; GoHealth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOCO#NASDAQ">GOCO</a>) is likely to report quarterly earnings at $2.72 per share on revenue of $363.88 million.
&bull; SecureWorks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCWX#NASDAQ">SCWX</a>) is estimated to report quarterly loss at $0.03 per share on revenue of $87.18 million.
&bull; Aveanna Healthcare Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAH#NASDAQ">AVAH</a>) is projected to report quarterly loss at $0.02 per share on revenue of $467.40 million.
&bull; PSQ Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSQH#NYSE">PSQH</a>) is expected to report quarterly loss at $0.47 per share on revenue of $2.47 million.
&bull; Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $1.69 billion.
&bull; CION Invt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CION#NYSE">CION</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $58.33 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Blend Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLND#NYSE">BLND</a>) is expected to report quarterly loss at $0.09 per share on revenue of $36.93 million.
&bull; Montauk Renewables (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNTK#NASDAQ">MNTK</a>) is estimated to report quarterly earnings at $0.07 per share on revenue of $56.87 million.
&bull; Getty Images Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GETY#NYSE">GETY</a>) is estimated to report quarterly earnings at $0.01 per share on revenue of $216.46 million.
&bull; Ulta Beauty (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) is likely to report quarterly earnings at $7.53 per share on revenue of $3.53 billion.
&bull; Skillz (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKLZ#NYSE">SKLZ</a>) is projected to report quarterly loss at $1.41 per share on revenue of $38.09 million.
&bull; Rigetti Computing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) is expected to report quarterly loss at $0.13 per share on revenue of $3.22 million.
&bull; Smartsheet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $255.38 million.
&bull; Phreesia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHR#NYSE">PHR</a>) is expected to report quarterly loss at $0.26 per share on revenue of $93.53 million.
&bull; Despegar.com (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESP#NYSE">DESP</a>) is projected to report quarterly earnings at $0.17 per share on revenue of $191.43 million.
&bull; Frequency Electronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEIM#NASDAQ">FEIM</a>) is projected to report earnings for its third quarter.
&bull; Pyxis Tankers (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PXS#NASDAQ">PXS</a>) is projected to report earnings for its fourth quarter.
&bull; American Vanguard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVD#NYSE">AVD</a>) is likely to report quarterly earnings at $0.27 per share on revenue of $172.90 million.
&bull; The One Group Hospitality (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STKS#NASDAQ">STKS</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $98.04 million.
&bull; Urgently (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULY#NASDAQ">ULY</a>) is likely to report earnings for its fourth quarter.
&bull; Vaxart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VXRT#NASDAQ">VXRT</a>) is likely to report quarterly loss at $0.14 per share on revenue of $1.25 million.
&bull; Evoke Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVOK#NASDAQ">EVOK</a>) is likely to report quarterly loss at $0.50 per share on revenue of $1.63 million.
&bull; Marchex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHX#NASDAQ">MCHX</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $12.75 million.
&bull; Kopin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOPN#NASDAQ">KOPN</a>) is projected to report quarterly loss at $0.02 per share on revenue of $9.03 million.
&bull; Eastman Kodak (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KODK#NYSE">KODK</a>) is projected to report earnings for its fourth quarter.
&bull; Zumiez (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZUMZ#NASDAQ">ZUMZ</a>) is projected to report quarterly earnings at $0.26 per share on revenue of $275.87 million.
&bull; Tilly&#39;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLYS#NYSE">TLYS</a>) is projected to report quarterly loss at $0.22 per share on revenue of $171.65 million.
&bull; CytoSorbents (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSO#NASDAQ">CTSO</a>) is projected to report quarterly loss at $0.14 per share on revenue of $9.28 million.
&bull; Energy Transfer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>) is projected to report quarterly earnings at $0.22 per share on revenue of $125.84 million.
&bull; Allogene Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLO#NASDAQ">ALLO</a>) is projected to report quarterly loss at $0.45 per share on revenue of $20 thousand.
&bull; Adecoagro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGRO#NYSE">AGRO</a>) is expected to report earnings for its fourth quarter.
&bull; Redwire (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDW#NYSE">RDW</a>) is expected to report quarterly loss at $0.12 per share on revenue of $59.72 million.
&bull; Fathom Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTHM#NASDAQ">FTHM</a>) is estimated to report quarterly loss at $0.32 per share on revenue of $80.97 million.
&bull; Brilliant Earth Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRLT#NASDAQ">BRLT</a>) is estimated to report quarterly earnings at $0.01 per share on revenue of $124.61 million.
&bull; Karat Packaging (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRT#NASDAQ">KRT</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $95.48 million.
&bull; Mobile Infrastructure (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BEEP#AMEX">BEEP</a>) is estimated to report earnings for its fourth quarter.
&bull; Babcock &amp; Wilcox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BW#NYSE">BW</a>) is likely to report quarterly loss at $0.03 per share on revenue of $256.27 million.
&bull; Cardlytics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>) is projected to report quarterly earnings at $0.12 per share on revenue of $89.55 million.
&bull; Eton Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETON#NASDAQ">ETON</a>) is expected to report quarterly loss at $0.04 per share on revenue of $7.70 million.
&bull; EverCommerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVCM#NASDAQ">EVCM</a>) is expected to report quarterly earnings at $0.13 per share on revenue of $172.41 million.
&bull; Co-Diagnostics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CODX#NASDAQ">CODX</a>) is expected to report quarterly loss at $0.20 per share on revenue of $3.62 million.
&bull; Acacia Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACTG#NASDAQ">ACTG</a>) is likely to report quarterly earnings at $0.07 per share on revenue of $8.00 million.
&bull; Alta Equipment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTG#NYSE">ALTG</a>) is estimated to report quarterly loss at $0.05 per share on revenue of $483.69 million.
&bull; Wheaton Precious Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPM#NYSE">WPM</a>) is expected to report quarterly earnings at $0.33 per share on revenue of $291.55 million.
&bull; Spruce Power Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPRU#NYSE">SPRU</a>) is likely to report earnings for its fourth quarter.
&bull; aTyr Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIFE#NASDAQ">LIFE</a>) is estimated to report quarterly loss at $0.24 per share on revenue of $50 thousand.
&bull; Clipper Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLPR#NYSE">CLPR</a>) is projected to report earnings for its fourth quarter.
&bull; Adobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) is likely to report quarterly earnings at $4.38 per share on revenue of $5.14 billion.
&bull; Heritage Glb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HGBL#NASDAQ">HGBL</a>) is expected to report quarterly earnings at $0.07 per share on revenue of $15.35 million.
&bull; NuScale Power (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) is projected to report quarterly loss at $0.14 per share on revenue of $8.94 million.
&bull; Altus Power (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMPS#NYSE">AMPS</a>) is expected to report quarterly loss at $0.01 per share on revenue of $43.93 million.
&bull; Molecular Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOLN#NASDAQ">MOLN</a>) is likely to report earnings for its Fiscal Year 2023.
&bull; FutureFuel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FF#NYSE">FF</a>) is likely to report earnings for its fourth quarter.
&bull; Harte-Hanks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HHS#NASDAQ">HHS</a>) is expected to report quarterly earnings at $0.12 per share on revenue of $47.00 million.
&bull; Blink Charging (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) is likely to report quarterly loss at $0.31 per share on revenue of $35.64 million.
&bull; PagerDuty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $110.40 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Spruce Power Holding Corporation Class A Common Stock

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Earnings Scheduled For March 14, 2024

The Ross School of Business at the University of Michigan hosted the expanded Maize and Blue Stock Pitch Competition on Feb. 9, welcoming an impressive lineup of eight final contestants, an increase <a href="https://www.benzinga.com/news/24/01/36611155/maize-and-blue-stock-pitch-competition-nurturing-the-next-generation-of-finance-leaders">from the previous year</a>.
This competition, sponsored by William Blair &amp; Company, Philadelphia Financial Management of San Francisco and Thrivent Financial, provided a platform for students from diverse academic backgrounds to exercise their stock analysis skills and pitch investment ideas to seasoned professionals.
While previously restricted to only Maize and Blue Endowment Fund members within the&nbsp;Ross School, the competition expanded to allow&nbsp;students from different disciplines to compete and included&nbsp;non-fund members such as&nbsp;one from the university&#39;s College of Literature Science and Arts (LSA)&nbsp;and one from the university&#39;s&nbsp;College of Engineering.&nbsp;Six competitors were from the Ross School of&nbsp;Business.
The competition&#39;s updated criteria for 2024 mandated presentations on U.S. publicly traded companies with a market cap of at least $100 million and at least $2 million of daily trading volume from October through December 2023, excluding ADRs, ETFs and other securities.
The challenge embraced both long and short investment theses, enriching the competition with an array of strategic perspectives.&nbsp;
Each contestant showcased exceptional diligence and strategic thinking, offering valuable perspectives on their chosen stocks. (Note: Two names are anonymous per request.)
See Also: <a href="https://www.benzinga.com/markets/equities/24/02/37344387/warren-buffett-ignores-buy-and-hold-strategy-with-this-home-builder-are-other-stocks-at-risk">Warren Buffett Ignores Buy-And-Hold Strategy With This Home Builder: Are Other Stocks At Risk?</a>
First Place: Jayant S. Namdhari - A Persuasive Bear Case on Him &amp; Hers Health
Jayant S. Namdhari, a sophomore from the Ross School of Business, won first place with an incisive short thesis about Hims &amp; Hers Health Inc. (NYSE: <a href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>).
Namdhari meticulously argued that the market overlooked the company&#39;s high-churn business model and limited potential for recurring revenue.&nbsp;&nbsp;
Namdhari highlighted the intensifying competition within the <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a> and the overestimated total addressable market (TAM), which the contestant believed would force the company to revise its long-term targets downward.
Namdhari&#39;s analysis concluded with a price target of $5.98, predicting a significant downside for the company based on these overlooked factors. (Hims &amp; Hers Health closed at $9.85 as of Feb. 8.).
Second Place: Dylan Castro - Bullish on Garrett Motion&#39;s Future
Securing second place, Castro, a sophomore from the College of Engineering, presented a bullish thesis on Garrett Motion Inc. (NASDAQ: <a href="https://www.benzinga.com/stock/gtx#NASDAQ">GTX</a>).
Castro&#39;s research focused on the positive impacts of legislative developments on cybersecurity and emissions regulations, which he anticipated would drive significant sales growth over the next five years.
His analysis praised GTX&#39;s superior innovation capabilities and the company&#39;s emergence from restructuring, adding a distress premium to the Weighted Average Cost of Capital (WACC) to account for the higher returns demanded by investors. Castro&#39;s detailed discounted cash flows (DCF) forecasting supported a price target of $13.35 by December 2025, underscoring his confidence in GTX&#39;s growth trajectory. (Garrett Motion closed at $8.28 as of Feb. 8).
Third Place: Contestant A - Long Thesis on Burford Capital
Contestant A earned third place with a long thesis on Burford Capital Limited (NYSE: <a href="https://www.benzinga.com/stock/bur#NYSE">BUR</a>), emphasizing the company&#39;s unique position in the market.
The contestant pointed out how confidentiality, information asymmetry and Burford&#39;s established reputation provided&nbsp;a significant first-mover advantage.
Additionally, the size of its assets limits competition and offers diversification benefits, bolstering the investment case. The analysis highlighted recent settlements in key cases and predicted a price target of $26.70, reflecting the contestant&#39;s optimism about Burford&#39;s potential for growth. (Burford closed at $14.36 as of Feb. 8).
Valerie Sherr and Adam Cox Tie for Fourth Place
Valerie Sherr, a junior from the Ross School of Business, presented a thesis on Adeia Inc. (NASDAQ: <a href="https://www.benzinga.com/stock/adea#NASDAQ">ADEA</a>) as an attractive long investment opportunity, focusing on the company&#39;s extensive patent portfolio and transition to OTT business.
Adam Cox, also a junior from the Ross School of Business, showcased a short thesis on Williams-Sonoma, Inc. (NYSE: <a href="https://www.benzinga.com/stock/wsm#NYSE">WSM</a>), detailing the significant headwinds faced by the retailer, including ocean freight challenges and increasing competition, with a price target of $150.
Honorable Mentions: The competition also awarded several honorable mentions, with each contestant presenting detailed analyses and investment theses on various companies.
Contestant B&#39;s Honorable Mention for a long thesis on Dlocal Ltd (NASDAQ: <a href="https://www.benzinga.com/stock/dlo#NASDAQ">DLO</a>) highlighted the stock&#39;s potential for recovery from a recent short report with a price target of $29.65, citing strong cash flows and a mispriced valuation due to industry misunderstandings.
Rashmi Nair, a senior studying economics and cognitive science from the College of LSA, issued a short on Foot Locker Inc (NYSE: <a href="https://www.benzinga.com/stock/fl#NYSE">FL</a>) with a price target of $20.71. Nair critiqued Foot Locker&#39;s e-commerce strategy and margin pressures, predicting difficulties in stabilizing market share amidst aggressive competition.
Vijay Rudraraju, a senior from the Ross School of Business, made a bull case for Gogo Inc (NASDAQ: <a href="https://www.benzinga.com/stock/gogo#NASDAQ">GOGO</a>), arguing against the overblown concerns of competitive threats, setting a price target of $13.79 and forecasting TAM growth through strategic offerings.
Looking Ahead: The Maize and Blue Stock Pitch Competition 2024 displayed the analytical prowess and strategic acumen of its participants and set a high standard for future competitions.
As these aspiring financial analysts move forward, their insights and methodologies will undoubtedly contribute to the evolving landscape of investment analysis.
Reflecting on the event&#39;s success and its contribution to the educational landscape at Michigan, Corey Tobin, partner at William Blair &amp; Company, shared his admiration for the participants&#39; work: &quot;The quality of work at the competition was outstanding, including some of the best ideas and analyses I&rsquo;ve ever seen at a student event.&rdquo;
He added, &ldquo;Efforts of Professor Pedram Nezafat and the investor mentors are absolutely elevating finance education at Michigan, and preparing students well for entering the industry. I look forward to seeing what next year holds.&quot;
The competition is a testament to the University of Michigan&#39;s dedication to fostering a rich educational environment where students can explore and refine their investment strategies, preparing them for successful careers in finance.
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Burford Capital&nbsp;announces the pricing of its private offering of $275.0 million aggregate principal amount of additional 9.250% senior notes due 2031 (the &quot;Additional Notes&quot;) by its indirect, wholly owned subsidiary, Burford Capital Global Finance LLC (the &quot;Issuer&quot;), which represents an increase from the previously announced offering size.
There is $400.0 million aggregate principal amount of the Issuer&#39;s 9.250% senior notes due 2031 (the &quot;Initial Notes&quot;) outstanding as of the date hereof. The Additional Notes will initially be offered to investors at an offering price equal to 103.625% of the principal amount thereof, plus accrued interest from January 1, 2024, representing a yield to worst of 8.251%. The offering is expected to close on January 30, 2024

Burford Capital Prices And Upsizes Private Offering Of $275M 9.250% Senior Notes Due 2031

Shares of Reneo Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rphm#NASDAQ">RPHM</a>) shares rose sharply during Wednesday&rsquo;s session after Concentra sent an acquisition proposal to acquire 100% of equity of the company for $1.80 per share.
Reneo Pharmaceuticals shares climbed 13.6% to $1.59 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>First Wave BioPharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fwbi#NASDAQ">FWBI</a>) shares jumped 169% to $9.90 after the company announced that it entered a non-binding term sheet to sell its Niclosamide program for the treatment of inflammatory bowel diseases.</li>
<li>Cingulate Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cing#NASDAQ">CING</a>) gained 95.2% to $4.08.</li>
<li>RiskOn International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roi#NASDAQ">ROI</a>) shares climbed 91.8% to $0.27. RiskOn International expects to announce its new generative AI platform and technology partner on Jan. 3, 2024.</li>
<li>Cytokinetics, Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cytk#NASDAQ">CYTK</a>) surged 64.2% to $75.05 after the company announced topline results from SEQUOIA-HCM, the Phase 3 clinical trial of aficamten in patients with symptomatic obstructive hypertrophic cardiomyopathy.</li>
<li>AEye, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lidr#NASDAQ">LIDR</a>) rose 61.2% to $3.58.</li>
<li>Vince Holding Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vnce#NYSE">VNCE</a>) jumped 42% to $3.2399.</li>
<li>Bit Brother Limited(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bets#NASDAQ">BETS</a>) gained 38.2% to $0.0152 after jumping 111% on Tuesday.</li>
<li>Nxu, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxu#NASDAQ">NXU</a>) rose 34% to $4.18.</li>
<li>Virax Biolabs Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrax#NASDAQ">VRAX</a>) gained 32% to $1.7551.</li>
<li>Jet.AI Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jtai#NASDAQ">JTAI</a>) shares gained 28% to $2.05 after falling 39% on Tuesday.</li>
<li>Elicio Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eltx#NASDAQ">ELTX</a>) jumped 25% to $8.89. Elicio Therapeutics 10% owner GKCC, LLC acquired a total of 1,213,000 shares an average price of $5.81.</li>
<li>Matinas BioPharma Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mtnb#NASDAQ">MTNB</a>) gained 24.7% to $0.2518 after the company announced results from a series of in vivo studies demonstrating oral delivery of two LNC-formulated small single-strand oligonucleotides.</li>
<li>Coherus BioSciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chrs#NASDAQ">CHRS</a>) shares rose 23.8% to $2.70 after the company reported the FDA approval of UDENYCA ONBODY for pegfilgrastim-cbqv.</li>
<li>TeraWulf Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wulf#NASDAQ">WULF</a>) gained 21.3% to $2.6950 after gaining 3% on Tuesday.</li>
<li>Jiuzi Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jzxn#NASDAQ">JZXN</a>) rose 15.2% to $0.7322.</li>
<li>Burford Capital Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bur#NYSE">BUR</a>) gained 14.3% to $15.44.</li>
<li>Edgewise Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ewtx#NASDAQ">EWTX</a>) climbed 13.8% to $10.84.</li>
<li>Mobile Global Esports Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgam#NASDAQ">MGAM</a>) shares rose 13.8% to $0.4380 after gaining 33% on Tuesday.</li>
<li>Wheels Up Experience Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/up#NYSE">UP</a>) gained 12.8% to $4.74.</li>
<li>Organogenesis Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/orgo#NASDAQ">ORGO</a>) surged 12.2% to $4.4550. BTIG maintained Organogenesis with a Buy and raised the price target from $4 to $6.</li>
<li>Ascent Industries Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acnt#NASDAQ">ACNT</a>) rose 11.9% to $9.05 as the company reported the sale of the business of Specialty Pipe &amp; Tube for around $55 million in an all-cash deal.</li>
<li>Mynd.ai, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mynd#NYSE">MYND</a>) gained 10.4% to $5.20.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) surged 7.4% to $184.89.</li>
<li>Li Auto Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) gained 5.1% to $36.20.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Hallmark Financial Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hall#NASDAQ">HALL</a>) shares fell 31.4% to $1.0764. Hallmark Financial Services gave notice to Nasdaq of intention to voluntarily delist its shares of common stock from Nasdaq Global Market.</li>
<li>Baosheng Media Group Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/baos#NASDAQ">BAOS</a>) fell 29.5% to $4.1050.</li>
<li>Nukkleus Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nukk#NASDAQ">NUKK</a>) shares fell 28.8% to $2.60 after jumping around 11% on Tuesday.</li>
<li>Iovance Biotherapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iova#NASDAQ">IOVA</a>) fell 20.4% to $7.07 after the FDA placed a clinical hold on the IOV-LUN-202 trial in response to a recently reported Grade 5 adverse event potentially related to the non-myeloablative lymphodepletion pre-conditioning regimen.</li>
<li>Mobix Labs, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mobx#NASDAQ">MOBX</a>) shares fell 17.1% to $5.80 after surging over 34% on Tuesday.</li>
<li>Color Star Technology Co., Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/add#NASDAQ">ADD</a>) dipped 15.4% to $0.33.</li>
<li>Bluejay Diagnostics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bjdx#NASDAQ">BJDX</a>) fell 15.4% to $2.20. Bluejay Diagnostics announced initiation of multicenter clinical study evaluating symphony IL-6 in sepsis patients.</li>
<li>Golden Heaven Group Holdings Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdhg#NASDAQ">GDHG</a>) declined 15% to $0.7880.</li>
<li>ARB IOT Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arbb#NASDAQ">ARBB</a>) fell 14.4% to $2.2155 after surging 175% on Tuesday.</li>
<li>Asset Entities Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asst#NASDAQ">ASST</a>) declined 13.7% to $0.6120.</li>
<li>Volcon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vlcn#NASDAQ">VLCN</a>) fell 12.7% to $0.1224. On Dec 19, Volcon got deficiency letter from Nasdaq that the company did not meet minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).</li>
<li>Smart for Life, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smfl#NASDAQ">SMFL</a>) shares fell 10.8% to $1.63 after declining 7% on Tuesday.</li>
<li>Brainstorm Cell Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcli#NASDAQ">BCLI</a>) shares fell 9.1% to $0.2090. Brainstorm Cell Therapeutics shares gained 16% on Tuesday after the company announced that it was granted patents for Allogeneic Exosome Platform-Product in neurological disorder treatments.</li>
<li>Inspira Technologies Oxy B.H.N. Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iinn#NASDAQ">IINN</a>) shares fell 8.7% to $1.16. Inspira Technologies shares gained 5% on Tuesday after the company announced 95% accuracy results for HYLA Blood Sensor. Additionally, the company plans FDA submission for clearance in 2024.</li>
<li>InnSuites Hospitality Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iht#NYSE">IHT</a>) fell 8.6% to $1.4250.</li>
<li>Oncternal Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onct#NASDAQ">ONCT</a>) shares fell 6.8% to $0.5510. Oncternal Therapeutics updated the status of a recent study involving a treatment for relapsed or refractory aggressive B-cell lymphoma, including patients who have failed previous CD19 CAR-T treatment.</li>
<li>Canopy Growth Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) fell 6.2% to $5.31.</li>
</ul>
&nbsp;
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Why Reneo Pharmaceuticals Shares Are Trading Higher By Around 14%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

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