Streetbeat News

Equity Actions

BCO

Brink's Company (NYSE:BCO) reported Q3 FY23 sales growth of 8% YoY to $1.227 billion, slightly beating the analyst consensus estimate. Revenue from North America slipped 1%, Latin America increased 13%, and Europe jumped 31%. Non-GAAP operating profit rose 31% YoY to $166 million. The company held $1.32 billion in cash and equivalents as of September 30, 2023. The Brink's Board approved a new $500 million share repurchase authorization expiring on December 31, 2025. BCO shares traded higher by 7.43% at $75.89 on the last check Tuesday.

Portfolio Pulse from Shivani Kumaresan

November 07, 2023 | 5:05 pm

CAT

A significant investor has taken a bullish position in Caterpillar (NYSE:CAT), with 70% of large-scale traders also showing bullish sentiment. The major market movers are focusing on a price band between $230.0 and $250.0 for Caterpillar. JP Morgan maintains an Overweight rating on Caterpillar with a target price of $320, while Goldman Sachs maintains a Buy rating with a target price of $274.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 5:02 pm

CMCSA

Comcast (NASDAQ:CMCSA) has seen unusual options activity with 50% of traders showing bullish tendencies and 50% bearish. Significant investors are aiming for a price territory of $42.5 for Comcast over the next three months. The trading volume stands at 5,323,236, with CMCSA's price down -0.47%, positioned at $42.26. Analysts have mixed ratings for Comcast, with Rosenblatt and Barclays rating it as Neutral and Equal-Weight respectively, both with a price target of $44, while Scotiabank has downgraded its rating to Sector Perform with a price target of $49.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 5:00 pm

VTR

WELL

Wedbush analyst Richard Anderson has upgraded the rating for Ventas, Inc. (NYSE:VTR) from Neutral to Outperform, raising the price target from $44 to $51. Anderson maintained a Neutral rating for Welltower Inc (NYSE:WELL), but raised the price target from $83 to $90. Both companies are seeing growth in their senior housing portfolios. In Q3 2023, both companies saw over 100bps of sequential occupancy increases, pushing up margins and overall net operating income growth.

Portfolio Pulse from Priya Nigam

November 07, 2023 | 4:57 pm

QQQ

SPY

Despite a bullish trend in major equity indices, retail traders are showing signs of caution and betting against the market rally. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) recorded gains of 4% and 5% respectively in the first week of November. However, almost one-third of the options on the S&P 500 index purchased in the past week were bearish bets, indicating a lack of confidence in the current rally. The ratio of put option buying to total option buying by retail traders reached 31% last week, one of the highest recorded over the past 24 years.

Portfolio Pulse from Piero Cingari

November 07, 2023 | 4:48 pm

HUGE

FSD Pharma Inc. (NASDAQ:HUGE) has announced plans to distribute shares of Celly Nutrition Corp. to its shareholders on a one-for-one basis. The record date for the special dividend will be announced in the coming weeks. FSD Pharma shareholders will also be entitled to a 7% royalty on all future gross revenue Celly derives from sales of products using the Company's technology. The special meeting of the FSD Pharma Securityholders to vote on the Arrangement is scheduled to be held on November 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 4:47 pm

FIS

Fidelity National Information Services (FIS) reported Q3 revenue of $2.489 billion, a 3% increase on a GAAP basis and 4% on an organic basis. The company's Q3 adjusted EPS of $1.65 beat the street view of $1.58. FIS also announced plans to repurchase approximately $500 million of shares in Q4 as part of a broader goal to repurchase at least $3.5 billion of shares by year-end 2024. Despite the positive earnings report, FIS shares are trading lower by 2.26% to $50.56.

Portfolio Pulse from Nabaparna Bhattacharya

November 07, 2023 | 4:23 pm

VGK

WFC

Wells Fargo has stated that a recession in the Eurozone is increasingly possible, although not yet inevitable. This could potentially impact the performance of the Vanguard FTSE Europe ETF (VGK), which tracks the performance of the European stock market.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 4:15 pm

EH

Hindenburg Research has issued a report on EHang (NASDAQ:EH), a China-based eVTOL aircraft company, alleging that the company has a hollow order book and fake sales. The report claims that 92+% of EHang's claimed 1,300+ unit preorder book is based on 'dead' or 'abandoned' deals, failed partnerships, and newly-formed customer entities with no discernible operations. It also alleges that EHang's largest deal, a 1,000-unit preorder from United Therapeutics, is 'dead'. The report also raises concerns about EHang's financial position, noting that it has only $44.9 million left in cash, and its recent $23 million capital raise was led by a South Korean music producer with a questionable past. Hindenburg Research has taken a short position in EHang.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 4:07 pm

MELI

A significant bearish move has been observed in MercadoLibre's (NASDAQ:MELI) options trading. Analysis revealed 13 unusual trades, with 76% showing bearish tendencies. The significant investors are aiming for a price territory of $1200.0 to $1800.0 for MercadoLibre over the recent three months. The trading volume stands at 65,330, with MELI's price up 0.76%, positioned at $1385.19. Wedbush downgraded its action to Outperform with a price target of $1500.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 4:01 pm