Streetbeat News

Equity Actions

AGRI

BLUE

CCO

GIS

KULR

PRZO

SCS

The S&P 500 slightly declined while the Dow and NASDAQ saw marginal gains. General Mills (GIS) reported lower than expected Q2 sales and reduced its annual sales forecast, causing concern. Steelcase (SCS) experienced a share price surge after reporting strong Q3 earnings, despite missing sales estimates. ParaZero Technologies (PRZO) saw its shares skyrocket following the announcement of a successful safety solution for a major automotive manufacturer's drone program. Clear Channel Outdoor (CCO) gained after appointing a new CFO and reaffirming FY23 guidance. Conversely, bluebird bio (BLUE), KULR Technology Group (KULR), and AgriFORCE Growing Systems (AGRI) saw their shares plummet due to public offerings and stock pricing.

Portfolio Pulse from Avi Kapoor

December 20, 2023 | 7:23 pm

HYLN

Hyliion Holdings Corp. (HYLN) announced a $20 million stock repurchase plan, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 7:20 pm

SPY

VXZ

The VIX index, known as Wall Street's fear gauge, is at a three-year low, indicating low investor fear and a positive sentiment towards equities. The S&P 500 and SPDR S&P 500 ETF (SPY) have both gained 24% over the year. The VIX's inverse correlation with equity markets suggests a potential rally, but it cannot predict unforeseen events or guarantee a continuation of the trend into 2024. Investors are advised to be cautious of complacency in the market.

Portfolio Pulse from Neil Dennis

December 20, 2023 | 7:14 pm

BXP

Boston Properties (NYSE:BXP) received mixed ratings from 5 analysts, with 1 bullish and 4 indifferent. The average 12-month price target is now $66.4, down from $70.33, with a high estimate of $77.00 and a low of $60.00. Analyst actions include both raised and lowered price targets. Boston Props's financials show a market cap above industry average, a 4.27% revenue growth, a net margin of -13.57%, an ROE of -1.89%, an impressive ROA of -0.45%, and a high debt-to-equity ratio of 2.69.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 7:01 pm

SCHW

Charles Schwab (NYSE:SCHW) has seen a 7.5% increase in short interest since its last report, with 21.41 million shares sold short, representing 1.29% of its float. It would take about 2.31 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Compared to its peers, SCHW has a lower short interest as a percentage of float, with the peer group average at 4.58%.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 7:00 pm

NIO

Nio Inc - ADR (NYSE:NIO) shares dropped 4.7% to $8.40 despite no company-specific news. The decline follows a recent announcement of a $2.2 billion investment from Abu Dhabi's CYVN, which will take a 20.1% stake in NIO. The investment aims to strengthen NIO's position in the electric vehicle market, supporting technology development, brand growth, and global expansion. NIO's 52-week trading range is between $7.00 and $16.18.

Portfolio Pulse from Henry Khederian

December 20, 2023 | 6:31 pm

SNAP

Snap Inc. (NYSE:SNAP) has seen a decrease in short interest by 6.99% since the last report, with 69.01 million shares sold short, representing 7.72% of its float. The average time to cover these short positions is 3.66 days. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise. Snap's short interest is higher than its peer group average of 6.29%.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 6:30 pm

FRT

Federal Realty Investment (NYSE:FRT) has been reviewed by 4 analysts in the last three months, with mixed opinions ranging from bullish to bearish. The average 12-month price target is $106.25, slightly up from the previous $106.00. Analysts from Piper Sandler and Evercore ISI Group have raised their price targets, while those from Mizuho and Wells Fargo have lowered theirs. Federal Realty Investment Trust owns a portfolio of high-quality retail properties and has shown solid revenue growth and profitability with a net margin of 19.2% and ROE of 2.02%. However, its revenue growth lags behind industry peers.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 6:01 pm

HPP

Analysts have mixed views on Hudson Pacific Properties (NYSE:HPP), with 8 ratings over the past 3 months. The average 12-month price target is $8.56, up from $8.12, with a high of $11.00 and a low of $6.25. Analysts from firms like Piper Sandler, BMO Capital, Goldman Sachs, Mizuho, Wedbush, and BTIG have updated their ratings and price targets, reflecting changes in market conditions and company performance. Hudson Pacific Properties is a REIT focusing on office and entertainment properties on the West Coast. Despite a market cap below industry average and a revenue decline of -11.1%, the company has a high net margin of -16.24%, ROE of -1.36%, and ROA of -0.42%, but carries a high debt-to-equity ratio of 1.77.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 6:00 pm

TRV

Travelers Companies (NYSE:TRV) received mixed analyst ratings in the latest quarter with 7 analysts providing their insights. The average 12-month price target for TRV is now $185.43, up from $184.40, with a high estimate of $215.00 and a low of $172.00. Analysts have made various adjustments to their ratings and price targets, reflecting their views on the company's market position and financial performance. Travelers Companies has shown a revenue growth rate of 14.21% as of September 30, 2023, but lags behind industry peers and has below-average net margin, ROE, and ROA, along with a higher debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 6:00 pm