Streetbeat News

Equity Actions

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

AMT

BRSP

CSGP

NREF

ORC

PLD

REM

TLT

XLRE

U.S. mortgage applications have increased by 3%, the largest weekly rise in two months, coinciding with a drop in the average contract interest rate for 30-year fixed-rate mortgages to 7.41%. The decline in mortgage rates is attributed to a reduction in U.S. bond yields, which also saw the 30-year Treasury bond yield fall to 4.53%. The iShares 20+ Year Treasury Bond ETF (TLT) has seen a 10% rally over the past month. Morgan Stanley predicts a 3% drop in home prices by the end of 2024 due to improving affordability. Real estate stocks and ETFs like XLRE, PLD, AMT, CSGP, and REM, as well as companies like NREF, BRSP, and ORC, have shown positive market reactions following the news.

Portfolio Pulse from Piero Cingari

November 22, 2023 | 5:04 pm

V

Benzinga's options scanner revealed significant bearish positioning on Visa (NYSE:V) by high-rolling investors, with 66% bearish sentiment among the options trades detected. A total of 12 options trades were spotted, with a notable put for $32,580 and 11 calls totaling $650,859. The targeted price range for Visa is between $240.0 to $250.0. Visa's current stock price is $253.0, with a potential overbought indication from the current RSI values. The next earnings report is due in 64 days. Analyst ratings for Visa are mixed, with a consensus target price of $269.5, ranging from $243 to $287.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:31 pm

INTC

Intel Corp (NASDAQ:INTC) is at risk of losing billions in subsidies for its German chip plant due to a recent court ruling. The German government had initially agreed to provide close to 10 billion euros in subsidies for Intel's chip-making facilities in Saxony-Anhalt. The state's economy minister warned of economic and reputational damage if Germany cannot support projects like Intel's. Intel had announced an investment of over 30 billion euros in Germany to expand its European manufacturing capacity, which is expected to create thousands of jobs. However, Intel had paused construction in December, seeking more public subsidies. As of September 30, Intel held $25.03 billion in cash and equivalents. INTC shares were up 1.07% at $44.10 in the last check.

Portfolio Pulse from Anusuya Lahiri

November 22, 2023 | 4:28 pm

AMGN

Amgen Inc. (NASDAQ:AMGN) has seen its stock drop by 0.18% in the current session, with a 3.61% decrease over the past month and a 7.54% decline over the past year. Investors are examining Amgen's P/E ratio, which is lower than the Biotechnology industry average, suggesting potential undervaluation or weaker growth prospects.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:15 pm

ATPC

Agape ATP shares are up following the announcement of a $1 million share repurchase plan to be executed over the next six months.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 4:01 pm

ADP

Automatic Data Processing (NASDAQ:ADP) is analyzed against competitors in the Professional Services industry. ADP shows favorable growth potential with a PE ratio slightly below the industry average, a low PB ratio suggesting undervaluation, but a high PS ratio indicating potential overvaluation. ADP's ROE is significantly above the industry average, and its EBITDA, gross profit, and revenue growth are strong. The company's lower debt-to-equity ratio compared to top peers suggests a solid financial position.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:00 pm

BSX

Boston Scientific Inc. (NYSE:BSX) stock has risen by 0.64% in the current session to $55.67, with an 11.37% increase over the past month and a 26.10% increase over the past year. The company's P/E ratio of 67.46 is higher than the industry average of 55.15, which could suggest that the stock is overvalued or expected to perform better than its peers in the Health Care Equipment & Supplies industry.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:00 pm

ADBE

Adobe (NASDAQ:ADBE) is evaluated against its competitors in the software industry. Adobe's P/E ratio is below the industry average, suggesting growth potential, while its P/B and P/S ratios are above average, indicating potential overvaluation. Adobe's ROE, EBITDA, and gross profit are higher than the industry average, showing strong profitability. However, its revenue growth is lower than the industry average, signaling slower growth. Adobe has a low debt-to-equity ratio compared to its top 4 peers, indicating a strong financial position with less reliance on debt.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:00 pm

PHM

Investor Business Daily's SwingTrader platform has reportedly purchased shares of PulteGroup (PHM), which could indicate a positive sentiment towards the stock from the platform's perspective.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:33 pm