Streetbeat News

Equity Actions

PEP

Deep-pocketed investors have shown a bullish approach towards PepsiCo (NASDAQ:PEP), with significant options activity detected. The trading activity suggests that these investors are aiming for a price territory of $140.0 to $180.0 for PepsiCo over the next three months. The current price of PEP is $167.38. Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $183.2.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 8:17 pm

AMC

AMC Entertainment Holdings, Inc. reported Q3 revenue of $1.41 billion, up 45.2% YoY. The company also entered into an equity distribution agreement to sell up to $350 million worth of shares. Despite a 16% decline in domestic box office attendance, AMC's success was attributed to a 30% increase in contribution per patron and strategic actions. Analyst Mike Hickey reiterated a Hold rating on AMC and lowered the FY23 and FY24 EBITDA and revenue estimates. AMC shares are trading lower by 15.31% to $8.55.

Portfolio Pulse from Nabaparna Bhattacharya

November 09, 2023 | 8:12 pm

BRK

CMCSA

RUM

During the third Republican primary debate, 2024 presidential candidate Chris Christie criticized Warren Buffett, CEO of Berkshire Hathaway, over Social Security. Christie argued that wealthy individuals like Buffett should not be collecting Social Security. The debate was broadcast on Comcast Corporation owned NBC and Peacock and also streamed on Rumble. It is not known if Buffett, who is eligible, has ever collected Social Security checks.

Portfolio Pulse from Chris Katje

November 09, 2023 | 7:59 pm

ASTR

ATRA

DNUT

EVA

HNST

IKNA

INBS

US stocks traded lower with the Dow Jones falling over 200 points. Krispy Kreme Inc reported downbeat Q3 results, missing analyst consensus estimates. Astra Space Inc shares rose 63% after a non-binding proposal to acquire all outstanding common stock. Intelligent Bio Solutions Inc and The Honest Company Inc also saw a rise in shares following Q1 results and upbeat quarterly results respectively. Ikena Oncology Inc, Atara Biotherapeutics Inc, and Enviva Inc saw a drop in shares following weak sales, failure to meet primary endpoint in a study, and Q3 results respectively.

Portfolio Pulse from Lisa Levin

November 09, 2023 | 7:45 pm

UCBI

United Community Banks has authorized a new share repurchase program of up to $18.4 million. The program is set to expire on December 31, 2022.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 7:33 pm

XRTX

XORTX Therapeutics has announced a 1-for-9 share consolidation, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 7:19 pm

JRVR

James River Group Holdings Ltd (NASDAQ:JRVR) shares dropped by around 30% following worse-than-expected Q3 FY23 results and an accounting error. The company also announced an agreement to sell its casualty reinsurance business for $277 million. Following these events, several analysts downgraded the stock and lowered their price targets.

Portfolio Pulse from Lekha Gupta

November 09, 2023 | 7:17 pm

PSNY

Polestar, the Swedish electric vehicle manufacturer, has announced plans to expand its manufacturing footprint to South Korea. The company will start production of its Polestar 4 model in Busan in 2025. PSNY, the US-listed SPAC that is set to merge with Polestar, is mentioned in the article.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 7:17 pm

FXI

SPY

President Biden has declared that he will not allow China to dominate the electric vehicle market. This statement could potentially impact the dynamics of the global EV market.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 7:10 pm

VALE

Vale Inc.'s shares are trading at $14.40, after a 1.12% increase. Over the past month, the stock went up by 9.27%, but decreased by 7.35% in the past year. Vale's P/E ratio of 6.78 is lower than the aggregate P/E ratio of 14.85 in the Metals & Mining industry, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 7:00 pm