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Equity Actions

ADM

COCO

FDP

GO

MGPI

The article highlights the top 5 oversold stocks in the consumer staples sector, indicating potential buying opportunities. These stocks, identified by their low Relative Strength Index (RSI) values, include The Vita Coco Company, Inc. (COCO), MGP Ingredients, Inc. (MGPI), Fresh Del Monte Produce Inc. (FDP), Grocery Outlet Holding Corp. (GO), and Archer-Daniels-Midland Company (ADM). Recent company developments and stock performance are discussed for each.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 12:11 pm

ON

Analysts have varied opinions on ON Semiconductor (NASDAQ:ON), with recent ratings ranging from bullish to indifferent. The average 12-month price target has increased to $88.00, up from $83.50. Analysts from Needham, Keybanc, Stifel, and Roth MKM have adjusted their ratings and price targets, reflecting their views on the company's market position and financial health. ON Semiconductor, a leading supplier in the automotive and industrial markets, faces challenges in market capitalization and revenue growth but excels in net margin, ROE, and ROA, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 12:00 pm

J

Jacobs Solutions has reaffirmed its fiscal 2024 financial guidance, expecting adjusted EBITDA to be between $1.53 billion and $1.60 billion. The company also maintains its adjusted EPS forecast in the range of $7.70 to $8.20, aligning closely with the estimated $8.07.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 11:55 am

BP

IBDRY

BP PLC shares surged after reporting Q4 FY23 results, with sales at $52.14 billion, missing consensus but beating EPS expectations. The company announced a dividend, completed a $1.5 billion share buyback, and plans further buybacks. BP also formed a joint venture with Iberdrola SA for EV charging in Spain and Portugal. BP expects higher upstream production in FY24 and maintains a capital expenditure target of around $16 billion per annum.

Portfolio Pulse from Lekha Gupta

February 06, 2024 | 11:28 am

BP

BP's shares are trading higher following the announcement of fourth-quarter results that surpassed profit expectations, alongside plans to increase share buybacks.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 11:17 am

SVMH

Srivaru Holding has filed for an offering of up to 9.8 million ordinary shares by the selling securityholders, as indicated in their F-1 filing.

Portfolio Pulse from Charles Gross

February 06, 2024 | 11:07 am

ARCB

ArcBest's board of directors has increased the authorization for its share repurchase program to $125 million. In 2023, the company repurchased 930,754 shares for $91.5 million and paid $11.5 million in dividends.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 11:04 am

CHKP

Gil Shwed, the founder and CEO of Check Point Software, announced the initiation of a succession process to hire a new CEO. Shwed plans to transition to the role of Executive Chairman, focusing on charting the future of Check Point and the cybersecurity market.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 10:39 am

IMMX

Immix Biopharma has priced a public offering of 5,535,055 shares at $2.71 each, aiming to raise approximately $15 million. The funds are intended for NXC-201 clinical trials, working capital, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:38 am

HESM

Hess Midstream LP (HESM) announced the pricing of a secondary offering of 10M Class A shares by an affiliate of Global Infrastructure Partners, generating $331M in gross proceeds. The underwriter has a 30-day option to buy up to 1.5M additional shares.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:30 am