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Equity Actions

CAT

Caterpillar Inc. (NYSE:CAT) has experienced a 7.44% increase in short interest since its last report, with 6.61 million shares sold short, representing 1.3% of its float. It would take about 1.7 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. Caterpillar's short interest is below its peer group average of 4.31%.

Portfolio Pulse from Benzinga Insights

November 13, 2023 | 6:15 pm

CTSH

Cognizant Tech Solns Inc. (NASDAQ:CTSH) shares are trading at $65.69, with a recent 0.40% decrease and a 2.21% drop over the past month, despite a 9.55% increase over the past year. The company's P/E ratio of 16.09 is lower than the IT Services industry average of 43.33, which could suggest undervaluation or weaker growth prospects. Investors are advised to consider P/E ratios among other financial metrics and industry trends for a comprehensive analysis.

Portfolio Pulse from Benzinga Insights

November 13, 2023 | 6:00 pm

TSLA

TSLL

TSLS

Tesla, Inc (TSLA) saw its stock rise over 4% on reports that India may cut taxes on EV imports, potentially encouraging Tesla to enter the Indian market and build a manufacturing facility. The stock regained the 200-day SMA, a key technical indicator, suggesting a possible new bull cycle. Direxion Daily Tesla Bull 1.5X Shares (TSLL) offers 150% leverage to play Tesla's upside, while Direxion Daily Tesla Bear 1X Shares (TSLS) offers inverse tracking for bearish bets.

Portfolio Pulse from Melanie Schaffer

November 13, 2023 | 5:59 pm

RACE

Ferrari plans to hire 250 new employees in the first half of 2024 and launch a broad-based share ownership plan for its 5,000+ employees, starting in Italy. The plan includes a one-off grant of shares and additional shares after 36 months. Ferrari also renewed its Competitiveness Award agreement, allowing employees to convert part of the award into company shares. The company is committed to sustainability by including an ESG indicator in the award calculation. Additionally, Ferrari is expanding its health and parenting support initiatives, including free annual medical check-ups and extended support for parents.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 5:51 pm

IT

Gartner (NYSE:IT) has experienced a 33.0% increase in short interest since its last report, with 1.79 million shares sold short, representing 2.66% of its float. It would take about 3.23 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. Gartner's short interest is higher than its peer group average of 2.29%.

Portfolio Pulse from Benzinga Insights

November 13, 2023 | 5:30 pm

ENSV

Enservco Corporation has filed a prospectus with the SEC, which pertains to the potential offer and resale of up to 2.93 million shares of its common stock by Oilserv, LLC. This filing indicates that Oilserv, LLC may from time to time sell these shares in the public market.

Portfolio Pulse from Charles Gross

November 13, 2023 | 5:29 pm

MYNZ

Mainz Biomed NV (NASDAQ:MYNZ) stock plummeted by 46% to $1.21 after announcing a securities purchase agreement to raise $5 million through a registered direct offering at $1.20 per share. The offering includes ordinary shares or pre-funded warrants and warrants, and is managed by Titan Partners Group, a division of American Capital Partners. The closing is expected around November 15, subject to customary conditions.

Portfolio Pulse from Henry Khederian

November 13, 2023 | 5:27 pm

MYNZ

Mainz Biomed's stock price has dropped following the announcement of a $5 million registered direct offering. The offering could dilute existing shareholders' equity, leading to the decline in stock price.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 5:26 pm

AMAT

Applied Materials Inc. (NASDAQ:AMAT) stock price dropped 1.15% to $148.95 in the current market session. Despite this, the stock has increased by 4.95% over the past month and 35.61% over the past year. The P/E ratio of AMAT is 19.88, which is lower than the industry average of 47.27, suggesting it may be undervalued or expected to perform worse than its peers. 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 13, 2023 | 5:15 pm

MCOM

Micromobility.com Inc. (NASDAQ:MCOM) announced shareholder approval for a 1-for-150 reverse stock split and an increase in authorized shares from 400 million to 1 billion. The reverse split is set for December 4, 2023, aiming to optimize capital structure and support growth. The company also plans to remove Class B common stock to simplify its structure and attract investors. Additionally, MCOM issued a $4.0 million convertible promissory note to Yorkville, convertible at $0.25 per share, to strengthen working capital with a maturity date of March 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 5:03 pm