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Equity Actions

AULT

Ault Alliance has decided not to pursue new acquisitions in 2024 but may continue making strategic investments. The company aims to maximize the value of its existing assets and has taken steps to reduce its total headcount, expecting to save over $2 million in payroll expenses for 2024.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 11:32 am

HLT

Hilton Worldwide has provided its FY24 outlook, projecting adjusted EPS of $6.80 - $6.94, below the $7.07 estimate. GAAP EPS is expected to be $6.57 - $6.71, with system-wide comparable RevPAR growth of 2.0% - 4.0%. Net income is forecasted between $1,694 million and $1,729 million, and adjusted EBITDA between $3,330 million and $3,380 million. The company plans capital returns of approximately $3.0 billion, with net unit growth of 5.5% - 6.0%.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 11:08 am

MLNK

MeridianLink, Inc. (MLNK) announced the pricing of a $131.2M secondary offering of 6.9M shares at $19/share by certain selling stockholders, with an increase of 406,015 shares from the initially announced size. The offering includes a 30-day option for underwriters to purchase up to an additional 675,000 shares. MeridianLink will repurchase 2,406,015 shares as part of the offering, which is set to close on February 9, 2024. The company will not receive any proceeds from the sale by the selling stockholders.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:36 am

CMG

DIS

F

UBER

YUM

Ahead of Wednesday's trading, notable stocks include Uber with expected earnings of 17 cents per share, Chipotle's strong Q4 results and $200 million share repurchase, Disney's anticipated earnings of 99 cents per share, Ford's better-than-expected Q4 results with a positive full-year EBIT outlook, and Yum! Brands' expected earnings of $1.40 per share. Uber, Chipotle, and Yum! Brands shares rose in after-hours trading, while Disney's fell.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 9:52 am

TSLA

Billionaire investor Leon Cooperman commented on Tesla CEO Elon Musk's compensation, calling him a genius but overcompensated following the Delaware Chancery Court's rescinding of Musk's 2018 compensation plan. Cooperman, whose hedge fund does not hold Tesla stock, criticized excessive executive compensation in general. Meanwhile, Ark Invest's Cathie Wood defended Musk's pay, and investor Gary Black suggested the dispute could lead to Musk gaining more control in Tesla. Tesla's stock rose 2.23% to $185.10.

Portfolio Pulse from Shanthi Rexaline

February 07, 2024 | 9:22 am

EQNR

Equinor has announced a two-year share buyback program totaling $10-12 billion for 2024-2025, starting with a $1.2 billion tranche on February 8, 2024. The first tranche includes market purchases up to $396 million, with the remainder involving shares redeemed from the Norwegian State. The program aims to buy back up to $6 billion in shares for 2024.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 7:04 am

FDMT

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) has announced the pricing of an upsized underwritten public offering of 6,586,015 shares of common stock at $29.50 each, along with pre-funded warrants for 3,583,476 shares at $29.4999 each. This move aims to unlock the full potential of genetic medicines for large market diseases.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 6:17 am

FCX

Freeport-McMoRan announced the appointment of Kathleen L. Quirk as President and Chief Executive Officer, effective June 11, 2024. This strategic leadership change is expected to guide the company into its next phase of growth and development.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:29 am

ARKF

ARKK

ARKQ

ARKW

PLTR

Cathie Wood's Ark Invest purchased $43M worth of Palantir Technologies, Inc. (PLTR) shares following a 30% spike after Q4 earnings, reflecting confidence in its AI potential. Ark's ETFs ARKK, ARKW, and ARKF increased their holdings, with PLTR now accounting for significant weightings in these funds. Analysts have upgraded PLTR's ratings and price targets post-earnings. Additionally, Ark continued buying Tesla shares, with ARKK, ARKW, and ARKQ acquiring more Tesla stock.

Portfolio Pulse from Shanthi Rexaline

February 07, 2024 | 2:43 am

YUMC

Yum China Holdings, Inc. (NYSE:YUMC) reported Q4 earnings surpassing analyst expectations with adjusted earnings of 25 cents per share and sales of $2.49 billion. The company raised its dividend from 13 to 16 cents and announced a $1.25 billion stock buy-back program for 2024. Yum China, operating major brands like KFC and Taco Bell in China, highlighted a 21% system sales growth in 2023. Shares surged 17.79% after-hours to $44.10.

Portfolio Pulse from Erica Kollmann

February 06, 2024 | 10:34 pm