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Investors are buying stocks due to no military response from Iran over the weekend, ignoring potential bad news on Apple. Reports suggest many Chinese are abandoning iPhones for Huawei’s Mate 60 Pro. Apple's largest supplier, Foxconn, is being targeted by China with tax audits and land use audits. The Bank of Japan's decision is awaited, with opinions ranging from no action to abandoning its yield curve control policy. Money flows are positive in several tech stocks and ETFs. Gold is over $2000, while oil is being sold due to no military action from Iran.

Portfolio Pulse from The Arora Report

October 30, 2023 | 9:30 pm

MNTS

Momentus is reportedly working to raise additional capital and has received multiple indications of interest from potential strategic partners, according to an 8-K filing.

Portfolio Pulse from Charles Gross

October 30, 2023 | 9:18 pm

SIEN

Sientra is exploring strategic alternatives to improve its balance sheet and ensure continued success. The company is experiencing growth in the breast reconstruction market with new products like Viality and SimpliDerm, despite softness in the augmentation market. Sientra aims to enhance its financial position to become a preferred partner for plastic surgeons.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 9:09 pm

CMI

Cummins (NYSE:CMI) has outperformed the market over the past 20 years by 8.88% on an annualized basis, producing an average annual return of 15.93%. If an investor had bought $1000 of CMI stock 20 years ago, it would be worth $19,232.16 today.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 9:00 pm

SITC

SITE Centers has announced the spin-off of its convenience portfolio into a separate publicly-traded REIT named Curbline Properties Corp. Curbline will be the first public REIT exclusively focused on the convenience sector. SITE Centers has sold $646M of assets since June 30, 2023, at a 6.5% cap rate and has $242M of additional assets under contract for sale. The company has obtained a $1.1B financing commitment, with proceeds expected to be used to repay all outstanding unsecured debt. SITE Centers has declared a Q4 dividend of $0.13 per share and expects to declare and pay a special cash dividend of at least $0.10 per share prior to January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 9:00 pm

WDC

Western Digital Corporation (NASDAQ:WDC) has announced a proposed offering of $1.3 billion aggregate principal amount of convertible senior notes due 2028. The notes will be senior unsecured obligations of Western Digital and will be guaranteed by each of Western Digital's wholly-owned subsidiaries. The company intends to use the net proceeds of the notes offering to pay the cost of entering into capped call transactions, to pay the purchase price for the refinancing of a portion of Western Digital's existing 1.50% convertible senior notes due 2024, and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:57 pm

SBUX

A significant bullish stance on Starbucks (NASDAQ:SBUX) has been observed in recent unusual options activity. The overall sentiment of these big-money traders is split between 60% bullish and 39% bearish. Whales have been targeting a price range from $75.0 to $115.0 for Starbucks over the last 3 months. Barclays, Citigroup, Deutsche Bank, UBS, and Morgan Stanley have maintained their ratings on Starbucks with price targets ranging from $100 to $118.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 8:45 pm

CRWD

A significant bearish stance has been taken on CrowdStrike Holdings (NASDAQ:CRWD) by a large investor, as observed from publicly available options history. The overall sentiment of these big-money traders is split between 38% bullish and 61% bearish. The whales have been targeting a price range from $100.0 to $200.0 for CrowdStrike Holdings over the last 3 months. The price of CRWD is up 1.04% at $174.61. Jefferies upgraded its action to Buy with a price target of $225, Argus Research downgraded its action to Buy with a price target of $220, and JMP Securities downgraded its action to Market Outperform with a price target of $235.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 8:45 pm

CTSH

Cognizant Tech Solns (NASDAQ:CTSH) has outperformed the market over the past 20 years, producing an average annual return of 12.79%. If an investor had bought $100 of CTSH stock 20 years ago, it would be worth $1,132.33 today.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 8:30 pm

APD

Air Products & Chemicals (NYSE:APD) has outperformed the market over the past 10 years, producing an average annual return of 10.78%. If an investor had bought $100 of APD stock 10 years ago, it would be worth $279.14 today. The company currently has a market capitalization of $62.36 billion.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 8:30 pm