Streetbeat News

Equity Actions

DDS

Dillard's, Inc. has declared a special one-time dividend of $20 per share and a regular quarterly cash dividend of $0.25 per share. This announcement could indicate strong financial health and a commitment to returning value to shareholders, potentially affecting the company's stock price positively in the short term.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:23 pm

AGI

BELGF

EDVGF

GDX

WPM

VanEck portfolio manager Imaru Casanova highlighted the significant undervaluation of gold mining stocks, noting they are trading at historical lows in terms of P/E, P/CF, and P/S ratios. Despite trading at a 20% discount to gold, Casanova is optimistic about the sector's future, expecting gold prices to reach all-time highs and gold stocks to outperform. She shared her top picks: Alamos Gold (AGI), Wheaton Precious Metals Corp. (WPM), Bellevue Gold Ltd. (BELGF), and Endeavor Mining (EDVGF). The VanEck Gold Miners ETF (GDX) also saw a recent increase.

Portfolio Pulse from Piero Cingari

November 16, 2023 | 9:21 pm

CLX

Clorox has announced that CEO Linda Rendle will take on the additional role of Chair of the Board of Directors starting January 1, 2024. The current board chair, Matthew Shattock, will transition to the role of lead independent director at that time.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:18 pm

MSI

Motorola Solutions' Board of Directors has announced an 11% increase in its quarterly dividend to $0.98 per share. Additionally, the Board has approved a $2 billion increase to the company's share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:13 pm

NCAC

Psyence Group Inc. and Newcourt Acquisition Corp (NASDAQ:NCAC) have announced the SEC's effectiveness of a Form F-4 registration statement for a new business combination. This move brings Psyence Group closer to listing on a U.S. national security exchange and is part of their strategy to launch a Phase 2b clinical trial for nature-derived psilocybin in palliative care. The business combination, valued at $50 million in pre-money equity, will result in Psyence contributing its therapeutics division to the new public company, Psyence Biomedical Ltd., which will trade under the Nasdaq ticker 'PBM'. Psyence Group has also granted stock options to eligible participants.

Portfolio Pulse from Lara Goldstein

November 16, 2023 | 9:07 pm

CALX

Calix, Inc. has announced an increase in its stock repurchase program by an additional $100 million. This decision reflects the company's confidence in its financial strength and commitment to delivering shareholder value. The expanded repurchase program may signal to investors that the company believes its stock is undervalued and is a positive step towards managing its capital structure effectively.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:06 pm

AAPL

ACN

ALB

ALK

AMZN

CHD

CROX

DAL

ENPH

GOOG

GOOGL

JBT

LLY

META

MSFT

NOW

NVDA

ORLY

TSLA

TTC

Goldman Sachs predicts a bullish stock market for 2024, with the S&P 500 reaching 4,700, a 5% price gain, and a 6% total return. The firm expects the U.S. economy to expand modestly, avoiding recession, and corporate earnings to rise by 5%. The 'Magnificent 7' tech stocks are anticipated to continue outperforming, and Goldman Sachs recommends focusing on quality stocks, growth stocks, and undervalued cyclicals, highlighting specific sectors like Information Technology, Health Care, and Energy for investment.

Portfolio Pulse from Piero Cingari

November 16, 2023 | 8:51 pm

BATRA

BATRK

BRK

Warren Buffett's Berkshire Hathaway Inc. disclosed a new position in Atlanta Braves Holdings Inc, owning 223,645 shares valued at around $8 million. The stake was acquired through a distribution to shareholders of Liberty Formula One Group, an existing Berkshire portfolio company. The Braves, a publicly traded MLB team, have a strong performance record and are favorites to win the 2024 World Series. Buffett, a baseball fan, has previously owned a stake in the Omaha Storm Chasers and has been interested in other MLB teams.

Portfolio Pulse from Chris Katje

November 16, 2023 | 8:27 pm

Goldman Sachs Gr (NYSE:GS) has seen a 6.73% increase in short interest since its last report, with 3.61 million shares sold short, representing 1.11% of its float. The short interest is below the peer group average of 3.66%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 8:00 pm

FIXX

PLCE

SONO

UTI

VLCN

WAVD

WSM

U.S. stocks traded lower with the Dow Jones falling over 100 points. Utilities shares surged by 1%, while energy shares fell by 2.2%. Williams-Sonoma (NYSE:WSM) reported better-than-expected Q3 adjusted earnings, beating EPS estimates but falling short on sales expectations. Sonos (NASDAQ:SONO) shares rose 18% after strong Q4 results. WaveDancer (NASDAQ:WAVD) shares jumped 68% due to a merger agreement with Firefly Neuroscience. Universal Technical Institute (NYSE:UTI) gained 14% following strong sales. Volcon (NASDAQ:VLCN) plunged 64% after announcing a public offering. The Children's Place (NASDAQ:PLCE) dropped 29% after weak earnings. Homology Medicines (NASDAQ:FIXX) fell 38% after announcing a merger with Q32 Bio. Gold prices increased by 1.2%, and oil prices declined by 5.7%.

Portfolio Pulse from Lisa Levin

November 16, 2023 | 7:30 pm