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Equity Actions

C

Citigroup Inc. (NYSE:C) shares rose 0.66% to $46.05, with a monthly increase of 12.81% but a yearly decline of 2.52%. The company's P/E ratio is lower than the Banks industry average, which could suggest undervaluation or lower future performance expectations. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for investment decisions.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 1:45 pm

REBN

Reborn Coffee Inc. (NASDAQ:REBN) announced the conversion of $1M of debt into common equity. The debt was held by Vice Chairman Dennis Egidi and converted at $0.60 per share, totaling 1,666,667 shares. The conversion is seen as a vote of confidence in Reborn's future and is expected to strengthen the company's financial structure.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:42 pm

WHR

Whirlpool Corporation (NYSE:WHR) plans to sell up to 24% of its stake in Whirlpool of India Limited in 2024, reducing its current 75% ownership. The divestiture aims to lower debt levels and improve balance sheet flexibility, with proceeds adding to the $500 million term loan repayment scheduled for Q4 2023. The sale is not expected to affect Whirlpool's full-year guidance. WHR stock closed up 1.20% at $109.63.

Portfolio Pulse from Shivani Kumaresan

November 30, 2023 | 1:33 pm

BRFS

BUD

KHC

TGT

Four consumer staples stocks are considered overbought based on their Relative Strength Index (RSI) values, which may concern momentum-focused investors. Anheuser-Busch InBev SA/NV (BUD) reported Q3 sales growth but missed estimates, with a RSI of 74.03. Kraft Heinz Company (KHC) announced a $3 billion share repurchase program, with a RSI of 72.09. Target Corporation (TGT) posted better-than-expected Q3 results, with a RSI of 72.90. BRF S.A. (BRFS) reported a Q3 loss, with a RSI of 74.07. All stocks have seen recent price increases but experienced slight declines or modest gains on the last trading day reported.

Portfolio Pulse from Lisa Levin

November 30, 2023 | 1:09 pm

DOOO

BRP Inc. (NASDAQ:DOOO) has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB), allowing the company to repurchase up to 3,231,999 subordinate voting shares, about 10% of the public float, from December 5, 2023, to December 4, 2024. The repurchases will be made through the TSX or alternative Canadian trading systems and may include open market transactions, pre-arranged crosses, exempt offers, and private agreements. Daily purchases are capped at 25% of the average daily trading volume, with additional block purchases allowed weekly. The APP with a designated broker will enable share purchases during blackout periods. In the previous NCIB, BRP repurchased 3,519,398 shares at an average price of $104.31.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:09 pm

CENN

Cenntro Electric Group has announced the postponement of its 1-for-10 reverse stock split. The company indicated that it has no reason to believe it will meet the previously set deadline of December 18 for the reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:08 pm

ACI

KR

Kroger Co has suspended its stock buyback program to focus on reducing debt in light of its planned merger with Albertsons. This strategic move indicates Kroger's commitment to maintaining financial stability and addressing potential regulatory concerns regarding the merger.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:07 pm

BNRG

Brenmiller Energy Ltd. (BNRG) announced a 1-for-10 reverse share split to be implemented after market close on December 1, 2023. Shares will trade on a post-split basis from December 4, 2023. Shareholders approved the split and an increase of share capital by 100,000,000 shares, with a post-split total of 15,000,000 shares. No fractional shares will be issued, with rounding to the nearest whole share.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:07 pm

NGD

New Gold Inc. has announced the appointment of Keith Murphy as the new Executive Vice President and Chief Financial Officer, effective January 2, 2024. Murphy, who has over 15 years of experience in finance within the mining industry, will succeed Rob Chausse following his retirement at the end of 2023. Murphy has been with New Gold since 2013 and has played a significant role in financial reporting, taxation, and finance for the company.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:04 pm

GOOG

GOOGL

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) is planning to launch its online investment app in the U.K. in early 2024, offering 6,000 U.S. stocks and 24-hour trading. This marks Robinhood's third attempt at international expansion after previous setbacks. The company faced challenges in the U.S., including fines and scrutiny over its practices. Robinhood will not offer payment-for-order-flow in the U.K. and plans to generate revenue through other services. Ark Fintech Innovation ETF purchased Robinhood shares, while Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) sold all its remaining shares. HOOD shares were up 3.25% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 30, 2023 | 12:46 pm