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Equity Actions

HSBC

IFF

MCD

PINS

McDonald's, HSBC Holdings, Pinterest, International Flavors & Fragrances, and ON Semiconductor are the stocks to watch heading into Monday. McDonald's is expected to report quarterly earnings of $3.00 per share on revenue of $6.58 billion. HSBC reported a 240% surge in pre-tax profit for Q3 and announced a $3 billion share buyback program. Pinterest is expected to earn 20 cents per share on revenue of $743.50 million. Clariant has agreed to buy the cosmetic ingredients unit of IFF for $810 million. ON Semiconductor is expected to report quarterly earnings of $1.34 per share on revenue of $2.15 billion.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 7:31 am

KKR

Private equity firm KKR has announced plans to invest $400 million into OMS Group, a leading neutral subsea telecom cable services provider. The investment is expected to boost OMS Group's capabilities and expand its global reach.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:30 am

HSBC

HSBC has announced that it expects its net interest income in FY23 to be above $35 billion. The bank has been managing its exposure to the changing interest rate environment, incurring disposal losses of $0.6 billion in 3Q23 due to repositioning and risk management activities. These actions are expected to continue into 4Q23, with further losses of approximately $0.4 billion. However, these losses are already recognized in equity and do not materially impact HSBC's CET1 capital.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:26 am

BTCUSD

VanEck has amended its application for a spot Bitcoin ETF with the SEC. The updated application highlights that a seed capital investor acquired the Seed Creation Baskets, a block of 50,000 shares of the proposed ETF, in October. The spot Bitcoin ETF directly invests in Bitcoin, different from existing ETFs that invest in Bitcoin futures. The application adds to the increasing number of asset managers amending their applications for a spot Bitcoin ETF. The SEC has delayed its decision on several proposals for spot Bitcoin ETFs, but a decision is expected in the coming weeks.

Portfolio Pulse from Mehab Qureshi

October 30, 2023 | 4:44 am

BTCUSD

Experts predict a bullish trend for Bitcoin (CRYPTO: BTC) with the expected approval of the long-awaited spot Bitcoin ETF. Kevin O'Leary, a keynote speaker at Benzinga’s Fintech Deal Day & Awards, targets Bitcoin at a hundred thousand dollars, but emphasizes the need for institutional ownership. Alex Krüger, co-founder of Asgard Markets, expects a +20% day move when the ETF is approved. Matt Hougan, CIO of Bitwise Asset Management, predicts U.S.-listed spot bitcoin ETFs will gather $55 billion of net inflows over the next five years.

Portfolio Pulse from Stjepan Kalinic

October 29, 2023 | 9:19 pm

PAPL

SHIM

Shimmick Corporation (NASDAQ:SHIM) and Pineapple Financial Inc (NASDAQ:PAPL) are set to go public this week. SHIM has a price range of $10.00-$12.00 and will offer 4,550,000 shares at $11.00 each. PAPL's price band is $4.00-$6.00 and will offer 875,000 shares at $5.00 each. Both companies have a 180-day lockup period.

Portfolio Pulse from Benzinga Insights

October 29, 2023 | 7:48 pm

MSFT

Microsoft Corporation (NASDAQ:MSFT) has been one of the best-performing technology stocks since its IPO in 1986. The company, now valued at over $2 trillion, has seen significant growth through new products and acquisitions. In 2023, Microsoft invested an additional $10 billion in OpenAI, which became a catalyst for the AI sector. An initial $1,000 investment in Microsoft's IPO would be worth $4,521,299.33 today.

Portfolio Pulse from Chris Katje

October 29, 2023 | 6:11 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) has generated significant returns over the years since its inception in 2003. The company's first factory was set up in Fremont, California in 2010, and since then, Tesla has expanded its manufacturing footprint globally. If an investor had invested $1,000 in Tesla stock ahead of the official unveiling of the Fremont factory, they would now have 704.2 shares worth $145,986, a return of roughly 1,450%. Tesla's stock ended Friday’s session up 0.75% at $207.30 and has added 68.3% for the year.

Portfolio Pulse from Shanthi Rexaline

October 29, 2023 | 2:17 pm

JPM

QABSY

JPMorgan Chase CEO Jamie Dimon recently sold 1 million shares of the company, sparking speculation about his retirement. Wells Fargo analyst Mike Mayo predicts Dimon will retire in about three and a half years. If Dimon stays until 2026, he has a board-approved bonus of 1.5 million options waiting for him, contingent on the stock price reaching $149. Dimon has never sold shares of JPMorgan before, and CEOs often sell stock ahead of retirement. Potential successors include several JPMorgan executives.

Portfolio Pulse from Anthony Noto

October 28, 2023 | 1:58 pm

FSR

KARS

MBGAF

NKLA

TSLA

Major electric vehicle (EV) stocks declined in the week ending Oct. 27, with Tesla (TSLA) extending its lean patch. Tesla debuted on Fortune’s list of 100 fastest-growing companies in 2023 and announced modest price hikes for some Model Y variants. Ford (F) is pushing back its $12 billion EV investment due to losses and market challenges. Mercedes-Benz (MBGAF, MBGYY) reported disappointing Q3 results and lowered its full year guidance. Nikola (NKLA) was awarded $165 million plus interest in an arbitration proceeding with its founder. Fisker (FSR) announced price cuts for its top trim Extreme. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 2.64% for the week.

Portfolio Pulse from Shanthi Rexaline

October 28, 2023 | 1:55 pm