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Equity Actions

PPG

PPG Industries (NYSE:PPG) has seen a 7.23% increase in short interest since the last report, with 2.09 million shares sold short, representing 0.89% of available shares. The short interest is lower than the peer group average of 3.88%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Traders would need approximately 1.0 day to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 6:00 pm

KEY

KeyCorp (NYSE:KEY) has received mixed analyst ratings over the past three months, with 8 analysts offering a range of perspectives. The average 12-month price target for KEY has risen to $14.75, up 12.77% from the previous target of $13.08. Analysts from firms like Keefe, Bruyette & Woods, Barclays, Goldman Sachs, Wells Fargo, Stephens & Co., RBC Capital, and Morgan Stanley have updated their ratings and price targets. KeyCorp's financials show a decline in revenue growth, below-average net margin, ROE, and ROA, and a high debt-to-equity ratio. The company, with over $170 billion in assets, operates primarily in Ohio and New York, focusing on middle-market commercial clients.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 6:00 pm

BKNG

Booking Holdings (NYSE:BKNG) has seen a 3.98% increase in short interest since its last report, with 728 thousand shares sold short, representing 2.09% of its float. The short interest now takes 2.46 days to cover based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, BKNG has a lower short interest as a percentage of float, with the peer group average at 7.74%.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 6:00 pm

AMZN

CHWY

CVNA

KSS

NCLH

PDD

RIVN

SIG

TSLA

VFC

Whale activity in the Consumer Discretionary sector has been detected, with significant options trades on stocks like AMZN, TSLA, RIVN, PDD, CHWY, SIG, CVNA, NCLH, KSS, and VFC. The trades include both bullish and bearish sentiments, with varying expiration dates and strike prices. The total trade prices and volumes indicate substantial interest in these options, which could signal upcoming movements in the underlying stock prices.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 5:35 pm

SCHW

Options trading activity for Charles Schwab (NYSE:SCHW) indicates a bearish sentiment among financial giants, with 55% of unusual trades being bearish. The trades suggest a target price range of $57.5 to $80.0 over the next three months. The largest options spotted were bullish call sweeps with expiration dates in 2024. Charles Schwab is a major player in brokerage and wealth management with over $7 trillion in client assets. The stock is slightly up with potential overbought signals and an earnings announcement due in 14 days. Analyst ratings vary, with an average target price of $76.67, but recent downgrades from Goldman Sachs and TD Cowen suggest caution.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 5:31 pm

NWL

Newell Brands Inc (NWL) is undergoing an organizational realignment to enhance commercial capabilities, which includes cutting office roles by 7% by the end of 2024. The company aims to optimize its real estate footprint and implement cost-reduction initiatives. These changes are part of the 'Where to Play / How to Win' strategy introduced in June 2023. Expected annualized pre-tax savings are $65 million to $90 million, with restructuring charges of $75 million to $90 million. NWL's stock rose 2.68% to $8.64.

Portfolio Pulse from Shivani Kumaresan

January 08, 2024 | 5:14 pm

CNM

Core & Main Inc. (NYSE:CNM) has upsized its secondary offering from 15 million to 17 million Class A shares. The underwriters have an option to buy an additional 2.55 million shares. Core & Main will not receive proceeds from the offering, which is set to close on January 10, 2024. Concurrently, Core & Main plans to repurchase 3.13 million Class A shares and 1.87 million partnership interests from the selling stockholders. J.P. Morgan and Citigroup are the joint lead book-running managers for the offering.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:07 pm

On CNBC, Jim Lebenthal announced that he has sold his position in The Boeing Company (BA).

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:04 pm

BTB

Bit Brother Limited (NASDAQ:BTB) announced a 1-for-1,000 reverse stock split approved by its board, effective around January 10, 2024. Shareholders will receive one new share for every thousand held, with the aim of increasing the share price. The split will reduce outstanding shares from 3.8 billion to 3.8 million. Stock options and restricted shares will be adjusted accordingly, and fractional shares will be rounded up. New share certificates will be issued, with VStock Transfer LLC managing the exchange.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:03 pm

FIHL

Fidelis Insurance Hldgs (NYSE:FIHL) received mixed ratings from 4 analysts, with an updated average 12-month price target of $17.38, up 1.22% from the previous target. Analysts from JP Morgan, BMO Capital, Keefe, Bruyette & Woods, and JMP Securities provided recent evaluations, with three lowering their price targets and one maintaining. The company's financials show strong revenue growth, net margin, ROE, and ROA, with a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 5:00 pm