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Equity Actions

SJW

SJW Group has raised its FY23 EPS guidance to $2.65-$2.70, up from the previous guidance of $2.40-$2.50. This is also higher than the consensus estimate of $2.47.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 10:10 am

FXI

Over the weekend, more than 30 Chinese-listed companies announced plans to buy back and purchase shares. This move is seen as an attempt to stabilize the market.

Portfolio Pulse from Charles Gross

October 30, 2023 | 9:41 am

HSBC

HSBC has declared a third interim dividend for FY23 of $0.10 per share, amounting to a distribution of approximately $1.946bn. The dividend will be payable on 21 December 2023. The bank also reiterated its commitment to pay a special dividend of $0.21 per share from the proceeds of the sale of its Canadian banking unit in H1 2024. Any excess capital will be used to supplement share buy-backs.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:11 am

CG

Abingworth, a life sciences investment group under Carlyle (NASDAQ:CG), has closed its new Clinical Co-Development Co-Investment Fund at $356 million, exceeding its target of $300 million. This, along with the Abingworth Clinical Co-Development Fund 2, means Abingworth has raised over $930 million in new funds since 2021 to invest in late-stage clinical programs globally.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:08 am

HSBC

IFF

MCD

ON

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