Streetbeat News

Equity Actions

EFX

Equifax (NYSE:EFX) has seen a 16.67% increase in short interest since its last report, with 3.66 million shares sold short, representing 3.36% of its float. The short interest is higher than the peer group average of 2.91%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. It takes traders approximately 4.37 days to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 4:30 pm

KNTK

Kinetik Holdings Inc (NYSE:KNTK) shares dropped 3.8% after announcing an increased secondary offering size to 6.5 million shares at $31.50 each. Apache Midstream LLC, a subsidiary of Apache Corporation, is the selling stockholder. Kinetik's officers and directors, including the CEO, plan to purchase 63,492 shares at the offering price. Kinetik will not receive any proceeds from the sale by Apache Midstream. KNTK's 52-week range is $26.32 to $37.17.

Portfolio Pulse from Henry Khederian

December 12, 2023 | 4:25 pm

CNC

Centene Corporation (NYSE:CNC) provided its 2024 financial guidance, forecasting revenues of $142.5 billion-$145.5 billion, above the consensus of $142.12 billion. The company expects GAAP diluted EPS greater than $5.61 and adjusted diluted EPS greater than $6.70, with a Health benefits ratio of 87.3% to 87.9%. Additionally, Centene announced a $4.0 billion increase to its stock repurchase program, supplementing the $1.2 billion remaining from the previous authorization. The company reaffirmed its 2023 guidance with premium and service revenues of $137.5 billion-$139.5 billion, a Health benefits ratio of 87.1% to 87.7%, and adjusted EPS of at least $6.60. CNC shares rose 3.86% to $77.12.

Portfolio Pulse from Vandana Singh

December 12, 2023 | 4:21 pm

SBOW

SilverBow Resources' stock is trading lower following the announcement of an upsized equity offering of 2.2 million shares. This move typically dilutes existing shareholders and can put downward pressure on the stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 4:09 pm

AZN

AstraZeneca (NASDAQ:AZN) is evaluated against its pharmaceutical industry competitors, showing potential for growth with a lower P/E, P/B, and P/S ratios than the industry average. However, its ROE, EBITDA, gross profit, and revenue growth are below the industry average, indicating potential inefficiencies and a slowdown in sales expansion. AstraZeneca's lower debt-to-equity ratio compared to its top 4 peers suggests a stronger financial position and favorable balance between debt and equity.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 4:00 pm

AVGO

Broadcom Inc (NASDAQ:AVGO) is evaluated against its peers in the Semiconductors & Semiconductor Equipment industry. With a P/E ratio lower than the industry average, Broadcom shows growth potential. However, its high P/B and P/S ratios may suggest overvaluation. The company's ROE is above the industry average, indicating efficient profit generation from equity. Conversely, Broadcom's EBITDA and gross profit are below the industry average, and its revenue growth is lower than the industry's, pointing to potential financial weaknesses. Broadcom's higher debt-to-equity ratio compared to its top 4 peers implies greater financial risk.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 4:00 pm

ANSS

Ansys (NASDAQ:ANSS) is evaluated against its competitors in the Software industry. Key financial metrics show Ansys may be undervalued based on P/E, P/B, and P/S ratios, but it underperforms in ROE, EBITDA, gross profit, and revenue growth. Ansys has a lower debt-to-equity ratio compared to its top 4 peers, indicating a stronger financial position with less reliance on debt financing.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 4:00 pm

GGE

Green Giant Inc (NASDAQ:GGE) stock plummeted 36% to a new all-time low of $0.098 after announcing a securities purchase agreement to sell $5.95 million worth of units at $0.17 each. The units include common stock shares, Class A and Class B warrants, and pre-funded units with warrants. The offering, facilitated by Maxim Group LLC, is expected to close on December 14, 2023. GGE's 52-week trading range is $0.09 to $3.30.

Portfolio Pulse from Henry Khederian

December 12, 2023 | 3:58 pm

GGE

Green Giant's stock price has declined following the announcement of its public offering pricing.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:57 pm

SNAP

There has been a significant options trade on Snap Inc. with a sweep of 1574 contracts for the January 5th $17 call options near the ask price of $0.38, compared to an open interest of 681 contracts. This activity suggests that traders may be anticipating a positive move in Snap's stock price ahead of its earnings report, which is estimated to be released after the market close on January 30th. The reference stock price at the time of the trade was $15.935.

Portfolio Pulse from Charles Gross

December 12, 2023 | 3:57 pm