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Equity Actions

MA

Mastercard's Board of Directors has approved a new $11 billion share repurchase program. This move indicates the company's confidence in its financial stability and future growth prospects. Share buybacks are often seen as a positive signal to investors, as they can increase earnings per share and return value to shareholders. The repurchase program also reflects Mastercard's commitment to managing its capital efficiently.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:15 pm

STRL

Sterling Construction Company, Inc. (STRL) has announced that its Board of Directors has authorized a new stock repurchase program. Under this program, the company is allowed to repurchase up to $200 million of its outstanding common stock. The timing and actual number of shares repurchased will depend on a variety of factors including price, market conditions, and applicable legal requirements.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:11 pm

PLAY

Dave & Buster's (PLAY) repurchased 2.8 million shares for $100M in Q3, totaling 8.5 million shares for $300M in fiscal 2023, which is 17.5% of shares outstanding at the end of fiscal 2022. The company still has $100M left in its share repurchase authorization. Additionally, PLAY executed a sale leaseback of four properties, generating $85.8M. CEO Chris Morris highlighted progress in growth initiatives and confidence in achieving a $1 billion AEBITDA target in the coming years.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:07 pm

HOFT

Hooker Furnishings Corporation (HOFT) has announced an increase in its quarterly cash dividend from $0.22 to $0.23 per share, marking the eighth consecutive annual dividend increase. The dividend is payable on December 29, 2023, to shareholders of record as of December 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:03 pm

CHEK

Yoav Kimchy, founder and former CTO of Check-Cap Ltd. (NASDAQ:CHEK), has issued an open letter urging shareholders to vote against the merger with Keystone Dental and in favor of the Symetryx Board of Directors nominees. Symetryx continues to advocate for voting against the Keystone Dental transaction, arguing it undervalues Check-Cap's intellectual property and does not maximize shareholder value. Symetryx has hired Mackenzie Partners, Inc. as an advisor and encourages shareholders to contact them for more information.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 8:56 pm

C

Citigroup (NYSE:C) has experienced a 32.06% increase in short interest since its last report, with 33.07 million shares sold short, representing 1.73% of its float. The short interest is higher than the peer group average of 0.80%. While this indicates more bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:45 pm

EOG

EOG Resources (NYSE:EOG) has seen an 11.93% increase in short interest since the last report, with 7.08 million shares sold short, representing 1.22% of available shares. It would take about 2.08 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, EOG has less short interest compared to its peers, with a peer group average of 6.24%. This could be interpreted as relatively bullish for EOG.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:45 pm

DRVN

FIVE

GPC

MCW

OLLI

ORLY

Bank of America estimates a $68 billion consumer tailwind in 2024 from social security changes and lower gas prices, potentially supporting retail stocks. The tailwind includes a $76 billion increase from social security and $37 billion from lower gas prices, offset by a $23 billion reduction in SNAP benefits and $22 billion from resumed student loan payments. The economy's health and job market will be crucial for consumer spending. Bank of America recommends selective stock picks, favoring defensive names and avoiding big-ticket items. It suggests O'Reilly Auto (ORLY), Genuine Parts (GPC), Driven Brands (DRVN), Mister Car Wash (MCW), Five Below (FIVE), and Ollie's (OLLI) as preferred stocks. Millennials face a drag from student loan repayments, and few will benefit from tax refunds due to inflation adjustments.

Portfolio Pulse from Neil Dennis

December 05, 2023 | 8:38 pm

SRE

Sempra (NYSE:SRE) has seen a 99.04% increase in short interest since its last report, with 13.00 million shares sold short, representing 2.07% of its float. It would take about 3.23 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Sempra's short interest is below its peer group average of 3.12%.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:30 pm

ADP

Automatic Data Processing (NYSE:ADP) has seen a 4.85% increase in short interest since the last report, with 4.44 million shares sold short, representing 1.08% of available shares. It would take about 2.56 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, ADP's short interest is below its peer group average of 6.00%. The rise in short interest does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:30 pm