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Equity Actions

HSBC

HSBC Holdings Inc. (NYSE:HSBC) shares dropped by 0.46% in the current session to $36.80, reflecting a 7.42% decline over the past month but a 30.54% increase over the past year. The article discusses HSBC's price-to-earnings (P/E) ratio in comparison to its industry peers, noting that HSBC's P/E is lower than the Banks industry average of 32.44, which could indicate that the stock is undervalued or that investors have lower growth expectations.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 5:00 pm

TKO

TKO Group Holdings Inc (NYSE:TKO) shares dropped 8.2% after announcing the pricing of a secondary offering by Vincent K. McMahon for 8.4 million shares at $79.80 each. TKO will repurchase $100 million worth of shares from the underwriter at the same price. The proceeds will benefit McMahon, not TKO. TKO's CEO and directors bought shares at the offering price. Morgan Stanley & Co. LLC and MUFG Securities Americas Inc. are managing the offering. TKO's 52-week range is $76.31 to $106.16.

Portfolio Pulse from Henry Khederian

November 10, 2023 | 4:25 pm

ASML

ASML Holding (NASDAQ:ASML) is analyzed in comparison to its competitors in the Semiconductors & Semiconductor Equipment industry. ASML, a leader in photolithography systems, shows strong financial performance with a lower P/E ratio than the industry average, suggesting potential undervaluation. However, its high P/B and P/S ratios may indicate overvaluation in terms of book value and sales. The company's ROE, EBITDA, gross profit, and revenue growth are significantly higher than the industry average, indicating robust profitability and cash flow generation.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 4:00 pm

NVS

Novartis (NYSE:NVS) has seen a 12.5% increase in short interest since the last report, with 3.65 million shares sold short, representing 0.18% of available shares. It would take about 1.87 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. Novartis has less short interest compared to its peer group average of 3.94%.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 3:30 pm

BK

Bank of New York Mellon (NYSE:BK) has seen a 29.87% increase in short interest since its last report, with 7.66 million shares sold short, representing 1.0% of its float. The short interest is below the peer group average of 3.02%. 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 10, 2023 | 3:15 pm

EMXC

Rep. Carol Miller reported purchasing iShares MSCI Emerging Markets ex China ETF (EMXC) stock valued between $65,002 and $150,000 on November 9, 2023. EMXC shares are up 1.35% at $51.0. Congressional transactions are monitored under the STOCK Act and are not primary indicators for investing decisions but can be considered by investors.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 3:05 pm

EPOW

The Chairman of Sunrise New Energy has announced the purchase of 200,000 shares of the company within the next 30 days. This move could signal confidence in the company's future performance and may influence the stock price positively in the short term.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 2:44 pm

AIZ

Assurant Inc (NYSE: AIZ) has announced an increase in its quarterly dividend to $0.72 per share and an additional $600 million share buyback program, adding to the existing $174 million authorization. The dividend is payable on December 18, 2023, to shareholders on record as of November 27, 2023. The company's strong cash generation from its Lifestyle and Housing businesses has enabled significant capital return to shareholders, including repurchasing nearly 70% of shares since its IPO. In Q3 FY23, AIZ reported an adjusted EPS of $4.29, beating estimates, and revenue of $2.774 billion, also above expectations. AIZ's stock closed higher by 1.07% at $161.23 on Thursday.

Portfolio Pulse from Lekha Gupta

November 10, 2023 | 2:05 pm

DMA

Destra Multi-Alternative Fund (DMA) has updated its portfolio holdings disclosure practices. The Fund will now disclose its complete portfolio holdings on its website at the end of each month with a minimum lag time of ten calendar days. Previously, only the top 10 holdings were disclosed monthly, and full portfolio holdings were released quarterly with up to a 60-day lag.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 2:04 pm

FTNT

Fortinet Inc.'s (NASDAQ:FTNT) stock price is currently at $49.81, after a 0.28% increase. However, the stock has decreased by 13.76% over the past month and by 10.28% over the past year. The company's P/E ratio is lower than the Software industry's aggregate P/E of 68.02, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 1:45 pm