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Equity Actions

MDNA

Medicenna Therapeutics announced that it will be delisted from the Nasdaq and is reducing its management team, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 3:12 pm

PSX

Phillips 66 (PSX) reported a 19.6% YoY increase in Q3 2023 adjusted EPS, but fell short of consensus estimates. Revenue exceeded consensus, reaching $40.23 billion. The company announced a $5 billion share repurchase authorization, in addition to the remaining $3.1 billion from a previous authorization. PSX also plans to sell non-core assets, expecting to generate over $3 billion in proceeds. Despite the earnings beat, PSX shares are trading lower by 1.91% in premarket trading.

Portfolio Pulse from Akanksha Bakshi

October 27, 2023 | 3:10 pm

COF

Capital One Financial (COF) has seen unusual options activity, with a significant number of bullish trades. Whales have been targeting a price range from $90.0 to $115.0 for COF over the last 3 months. The price of COF is up 7.99% at $96.66. Analysts have mixed opinions, with JP Morgan maintaining an Overweight rating and a price target of $109, while HSBC downgraded its action to Reduce with a price target of $84.

Portfolio Pulse from Benzinga Insights

October 27, 2023 | 2:46 pm

EQNR

Equinor ASA (NYSE:EQNR) reported a 41% Y/Y decline in Q3 FY23 adjusted revenue to $25.74 billion. Liquids production rose 12% Y/Y, but gas equity production fell 13% Y/Y due to maintenance and unplanned turnaround extensions. Adjusted earnings declined 67% Y/Y to $8.024 billion. The company completed the third tranche of the share buyback program for 2023 with a total value of up to $1.67 billion and initiated a fourth and final tranche of the same value. EQNR shares are trading higher by 1.91% at $33.59.

Portfolio Pulse from Lekha Gupta

October 27, 2023 | 2:31 pm

DUK

Duke Energy has announced plans to build and operate the first system in the US capable of producing, storing, and combusting 100% green hydrogen in a combustion turbine in Florida. The system, which is expected to be fully operational by 2024, is a collaboration between Duke Energy, Sargent and Lundy, and GE Vernova. The system will be located at Duke Energy Florida's DeBary plant and will use the existing 74.5-megawatt DeBary solar plant to provide clean energy for two 1-MW electrolyzer units.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 2:17 pm

MA

A large investor has taken a bullish stance on Mastercard (NYSE:MA), with 19 uncommon options trades spotted for the company. The sentiment of these big-money traders is split between 52% bullish and 47% bearish. Whales have been targeting a price range from $270.0 to $460.0 for Mastercard over the last 3 months. Barclays, Keybanc, JP Morgan, and Raymond James maintain their Overweight rating on Mastercard with price targets of $479, $440, $496, and $452 respectively, while HSBC downgraded its action to Hold with a price target of $424.

Portfolio Pulse from Benzinga Insights

October 27, 2023 | 2:16 pm

SYTA

Siyata Mobile has priced a 2.4 million share offering at $0.65 per share, leading to a decrease in its stock price.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 1:45 pm

SYTA

Siyata Mobile has priced its 2.4 million share offering at $0.65 per share.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 1:42 pm

AAGIY

BABA

CICHY

JD

LI

NIO

PNGAY

TCEHY

TSLA

XPEV

Hong Kong stocks rallied on Friday, driven by strong consumer turnout and hopes of government stimulus. Alibaba Group Holding (NYSE:BABA) and JD.com Inc (NASDAQ:JD) saw their stocks rise due to successful Single’s Day presales promotions. Tencent Holdings Limited (OTC:TCEHY) also got a boost from its investment in J&T Global Express Limited's IPO. EV stocks, including Nio Inc (NYSE:NIO), XPeng Inc (NYSE:XPEV), and Li Auto Inc (NASDAQ:LI), rose after Tesla Inc (NASDAQ:TSLA) scrapped a discount on its Model Y EV. Financials China Construction Bank (OTC:CICHY), AIA Group (OTC:AAGIY), and Ping An Insurance Group (OTC:PNGAY) also rose despite heavy short-selling.

Portfolio Pulse from Daniel Harrison

October 27, 2023 | 1:41 pm

SPY

UUP

The ongoing Israel-Hamas conflict has led to the US postponing a ground invasion into Gaza and striking Iranian-backed bases in Syria. The IMF warns of negative economic repercussions for Middle Eastern nations, including Egypt, Lebanon, and Jordan. The conflict has already impacted tourism, increased costs for insuring goods movement, and heightened investor caution. Market reactions show a rebound in risk sentiment, with futures on the S&P 500 Index and the Nasdaq 100 up by 0.4% and 0.9% respectively. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) are mentioned.

Portfolio Pulse from Piero Cingari

October 27, 2023 | 1:30 pm