Streetbeat News

Equity Actions

ANET

Morgan Stanley analyst Meta Marshall has upgraded Arista Networks (NYSE:ANET) from Equal-Weight to Overweight and raised the price target from $185 to $220.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 9:39 am

MSFT

NVDA

SPY

Vice President Kamala Harris is set to announce a private investment of over $200 million aimed at financing advancements in artificial intelligence, according to Bloomberg. The specific companies or foundations involved in this investment have not been disclosed.

Portfolio Pulse from Charles Gross

October 31, 2023 | 9:08 am

BP has provided its guidance for Q4 2023 and FY 2023. For Q4 2023, it expects reported upstream production to be broadly flat compared to Q3 2023, with lower volumes in its customer business and lower refining margins. For FY 2023, BP expects both reported and underlying upstream production to be higher compared to 2022, with higher production from oil production & operations and slightly lower production from gas & low carbon energy. It also expects to start four major projects in 2023.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 7:59 am

BHP

BHP has approved an investment of C$6.4 billion for Stage 2 of the Jansen potash project, doubling its investment in potash. This follows BHP's approval of C$7.5 billion for stage one of the project in August 2021, and a pre-Jansen Stage 1 investment of C$4.9 billion.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 7:57 am

ETHUSD

MATICUSD

SOLUSD

XLMUSD

The market for tokenized versions of U.S. Treasuries has seen a nearly 600% increase this year, jumping to $698 million from about $100 million at the start of the year. This growth is attributed to new entrants and expansion of existing platforms. Ethereum (ETH) network has recently outpaced the Stellar (XLM) network in terms of the value of Treasury tokens on-chain. Newer entrants like Polygon (MATIC) and Solana (SOL) have also garnered over $40 million of assets combined.

Portfolio Pulse from Benzinga Neuro

October 31, 2023 | 6:56 am

ORGS

Orgenesis has withdrawn its previously announced proposed underwritten public offering due to unfavorable market conditions.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:40 am

AMD

CAT

FMC

PFE

WDC

Caterpillar Inc., FMC Corporation, Advanced Micro Devices, Western Digital Corp, and Pfizer Inc. are the stocks to watch heading into Tuesday. Caterpillar is expected to report quarterly earnings of $4.79 per share on revenue of $16.59 billion. FMC reported weaker-than-expected Q3 results but reaffirmed its full-year forecast. AMD is expected to earn 68 cents per share on revenue of $5.70 billion for the latest quarter. Western Digital reported upbeat Q1 results and announced a plan to separate its HDD and Flash businesses but also reported a proposed $1.3 billion convertible notes offering. Pfizer is expected to report a quarterly loss at 34 cents per share on revenue of $13.34 billion.

Portfolio Pulse from Lisa Levin

October 31, 2023 | 6:16 am

PARA

PARAA

In a recent interview, Vice President Kamala Harris discussed the upcoming 2024 election, the Middle East conflict, and her role as the first female vice president. She expressed confidence in President Joe Biden's reelection and dismissed concerns about his age. The interview aired on CBS, owned by Paramount Global (NASDAQ:PARA)(NASDA:PARAA).

Portfolio Pulse from Chris Katje

October 31, 2023 | 4:54 am

STLA

Canadian workers union Unifor reached a tentative agreement with Stellantis NV (NYSE:STLA) on Monday, hours after commencing a strike. The agreement includes a nearly 19% increase in base hourly wage for production workers and a nearly 25% hike for those in skilled trades over three years. The agreement is yet to be ratified by the workers.

Portfolio Pulse from Anan Ashraf

October 31, 2023 | 4:29 am

ITA

LMT

The election of Rep. Mike Johnson as House Speaker has sparked a dispute within the GOP over a $106 billion aid package for Ukraine and Israel. Senate Minority Leader Mitch McConnell wants to keep financial and military aid for both countries tied together, viewing them as threats to national security. However, Johnson believes Ukraine and Israel need to be treated separately. The outcome of this dispute could impact the stocks of defense companies such as Lockheed Martin, Boeing, Northrop Grumman, General Dynamics, RTX Corp, and Leidos Holdings, as well as ETFs like iShares U.S. Aerospace & Defense ETF, Invesco Aerospace & Defense ETF, and SPDR S&P Aerospace & Defense ETF.

Portfolio Pulse from Natan Ponieman

October 30, 2023 | 11:26 pm