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Equity Actions

PLPC

Preformed Line Products Company (NASDAQ:PLPC) has announced Dennis F. McKenna as the new CEO effective January 1, 2024, succeeding Robert G. Ruhlman who will become Executive Chairman. McKenna, with the company since 1993, previously served as COO. The company has seen consistent growth and aims to continue expanding globally under McKenna's leadership, with a focus on sales, engineering, and manufacturing capabilities. J. Ryan Ruhlman was named President earlier this year to drive business development and marketing strategies.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 8:43 pm

CLST

Catalyst Bancorp Inc's Board has approved the company's third share repurchase program, according to an SEC filing. Under the new plan, the company is authorized to repurchase up to 240,000 shares, which is approximately 5% of its outstanding common stock.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 8:42 pm

LEN

Lennar Inc. (NYSE:LEN) stock has seen a 23.12% increase over the past month and a 46.91% increase over the past year. Currently trading at $126.90, its P/E ratio of 9.41 is higher than the Household Durables industry average of 9.01, which could suggest that the stock is overvalued or expected to perform better than its peers.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 8:30 pm

UBCP

United Bancorp has announced an increase in its quarterly dividend from $0.1675 to $0.17 per share.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 8:01 pm

GILD

Gilead Sciences (NYSE:GILD) has seen a decrease in short interest, with the short percent of float dropping 4.37% since the last report. The company has 19.50 million shares sold short, representing 1.75% of available shares, with a cover time of 3.36 days. This decline in short interest may indicate a more bullish sentiment among investors, although it doesn't necessarily predict a near-term price rise. Gilead has a lower short interest compared to its peer group average of 4.35%.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 6:45 pm

RMBL

RumbleOn, Inc. (NASDAQ:RMBL) has extended the subscription period for its $100M Rights Offering until December 5, 2023. This extension is to give Eligible Stockholders of Class A and Class B common stock more time to subscribe for Class B shares. Each Subscription Right allows the purchase of 1.078444 shares at $5.50 per share, with the Rights Offering being fully backstopped by a standby purchase agreement with certain stockholders.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 6:39 pm

ZTS

Zoetis (NYSE:ZTS) has seen a 4.62% increase in short interest since the last report, with 3.10 million shares sold short, representing 0.68% of available shares. The short interest is below the peer group average of 3.23%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 6:15 pm

ABNB

Airbnb (NYSE:ABNB) has seen a decrease in short interest, with the short percent of float falling 5.01% since the last report. The company has 29.16 million shares sold short, representing 6.83% of available shares for trading. The current short interest is higher than the peer group average of 6.76%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 6:00 pm

AAPL

BX

CCL

INTC

SPY

TSLA

Hedge fund short sellers have incurred losses of $43 billion due to the recent equity market rally, with the S&P 500 on track for its best month since July 2022. Data from S3 Partners indicates these losses occurred after positive U.S. inflation data. Tesla, Apple, and Intel were among the most unprofitable shorts. The SPDR S&P 500 ETF (SPY) has risen nearly 11% since October 27. Other significant losses for short sellers included positions in Carnival Corporation and Blackstone Group.

Portfolio Pulse from Neil Dennis

November 22, 2023 | 5:15 pm

MCD

McDonald's Corp (NYSE:MCD) has increased its stake in its China business to nearly 50% by acquiring a 28% stake from Carlyle. Despite geopolitical and economic concerns, McDonald's is confident in the Chinese market's growth, with plans to expand to over 10,000 stores by 2028. The stock has risen 6% YTD and experienced a 7% rally in November, approaching the 2022 high of $281. After a peak in July 2023, the stock faced a 17% decline but has since rebounded. The stock closed at $280.47 on November 21, up by 0.52%.

Portfolio Pulse from Zaheer Anwari

November 22, 2023 | 5:14 pm