Streetbeat News

Equity Actions

KHC

Kraft Heinz Co (NASDAQ:KHC), a top holding of Warren Buffett's Berkshire Hathaway, recently exhibited a bullish Golden Cross signal on its stock chart. The company's fundamentals are improving with strategic reinvestments in marketing and product innovation, contributing to bottom-line growth. Despite past performance issues, Kraft Heinz has outperformed the S&P 500 since October with a 16.5% total return. The stock offers a solid dividend yield and is engaged in a $3 billion share repurchase program, indicating a potential value stock for long-term returns.

Portfolio Pulse from Surbhi Jain

January 18, 2024 | 3:43 pm

PCSA

Processa Pharmaceuticals (PCSA) announced a 1-for-20 reverse stock split, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:31 pm

CL

Colgate-Palmolive Inc. (NYSE:CL) stock price dropped by 0.69% to $80.40 in the current market session. Despite this, the stock has seen an increase of 3.07% over the past month and 6.44% over the past year. The company's P/E ratio is lower than the Household Products industry average, which could indicate that the stock is undervalued or that shareholders have lower growth expectations.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 3:30 pm

ARAV

Aravive, Inc. has announced its decision to delist from the Nasdaq, leading to a decline in its stock price. This move may affect investor confidence and the stock's liquidity, as it will no longer be traded on a major exchange.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:28 pm

VRDN

Viridian Therapeutics' stock price is trading lower following the announcement of a public offering of its common stock. The offering is likely to dilute existing shareholders, which typically leads to a decrease in stock price.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:18 pm

CCTG

CCSC Technology International Holdings has announced the pricing of its initial public offering (IPO) at $4 per share. The company is offering 1,375,000 shares and expects to raise aggregate proceeds of $5.5 million from the IPO.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:03 pm

PYPL

Analysis of PayPal Holdings (NASDAQ:PYPL) options activity reveals a mix of bullish and bearish sentiment among traders, with a slight lean towards bearishness. Unusual trading volume was observed, with 40 significant trades identified, including 2 puts and 38 calls. Whales appear to be targeting a price range of $52.5 to $100.0 for PayPal over the next three months. The largest options trades include both bullish and bearish positions, with varying expiration dates and strike prices. PayPal's current market status shows a neutral RSI and a slight increase in stock price, with an earnings announcement expected in 20 days.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 3:01 pm

AA

Alcoa Corp (NYSE:AA) has received mixed analyst ratings over the past three months, with a total of 5 indifferent, 2 somewhat bearish, and 1 bearish rating. The average 12-month price target among analysts is $28.44, with a high of $36.00 and a low of $25.00, reflecting a 2.5% decrease in the average target. Analysts from BMO Capital, UBS, B of A Securities, B. Riley Securities, Morgan Stanley, and HSBC have made various adjustments to their ratings and price targets for Alcoa. The company's financial performance shows a decline in revenue growth, below-average net margin, ROE, and ROA, but a balanced debt-to-equity ratio. Alcoa is a major player in the aluminum industry, with its revenue and profitability closely tied to commodity prices.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 3:00 pm

VRDN

Viridian Therapeutics Inc (NASDAQ:VRDN) stock dropped 5.98% after announcing a public offering of 7,142,858 shares at $21.00 each, aiming to raise $150 million. The offering includes an option for underwriters to buy an additional 1,071,428 shares. The proceeds will fund clinical programs, working capital, and general corporate purposes. Jefferies and Leerink Partners are the offering's lead managers. VRDN's 52-week range is $10.92 to $39.00.

Portfolio Pulse from Henry Khederian

January 18, 2024 | 2:51 pm

DIS

Activist investor Nelson Peltz has disclosed the sale of half of his stake in The Walt Disney Company at a price of $113 per share. This move comes amidst Peltz's ongoing efforts to secure a seat on Disney's board, which the company has resisted. The sale could signal a shift in Peltz's strategy or confidence in the company's direction.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:48 pm