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Equity Actions

ARM

NVDA

The article discusses the current economic situation, focusing on inflation, interest rates, and the impact of the Federal Reserve's actions. It also mentions the IPO of Arm Holdings, which is trading above Nvidia's valuation, despite skepticism about its role in AI advancements. The article suggests that the Federal Reserve's rate hikes are not solely responsible for the current inflation and economic growth, pointing to Congressional overspending as another factor.

Portfolio Pulse from Gary Brode

September 20, 2023 | 8:18 pm

FDX

FedEx Corp reported Q1 revenue of $21.7 billion, missing the consensus estimate of $21.81 billion, but beat earnings estimates with $4.55 per share. The results were driven by the DRIVE program and focus on revenue quality, offset by ongoing demand weakness. FedEx lowered its full-year revenue guidance but raised its earnings outlook. The company also plans to repurchase an additional $1.5 billion of its common stock during fiscal 2024. FedEx shares were up 4.89% after hours.

Portfolio Pulse from Adam Eckert

September 20, 2023 | 8:17 pm

GPOR

Gulfport Energy has expanded its common stock repurchase authorization by 63% to $650 million. Since the inception of the repurchase program, the company has repurchased approximately 3.9 million shares of common stock for $331.3 million.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:16 pm

GILD

Gilead Sciences (NASDAQ:GILD) has seen unusual options activity, with a significant number of bullish trades. Whales have been targeting a price range from $60.0 to $95.0 for Gilead Sciences over the last 3 months. The company's stock price is currently up 0.07% at $75.82. Truist Securities and B of A Securities have upgraded their actions to Buy with price targets of $91 and $95 respectively, while HSBC has downgraded its action to Reduce with a price target of $71.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 8:15 pm

TRNS

Transcat announced a proposed public offering of common stock, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:15 pm

FDX

FedEx (FDX) plans to repurchase an additional $1.5 billion of common stock during fiscal 2024. The company had a cash on-hand of $7.1 billion as of August 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:09 pm

DHI

D.R. Horton, Inc. (DHI) has announced the appointment of Paul J. Romanowski as President and CEO, and David V. Auld as Executive Vice Chair. The changes in leadership could potentially influence the company's strategic direction and operational performance.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:06 pm

TRNS

Transcat, Inc. has announced a proposed public offering of its common stock. The terms of the offering have not been disclosed yet.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:02 pm

UPTD

TradeUP Acquisition Corp. has announced that each investor will purchase an aggregate of $5M shares of the company's stock, at a price per share of $10, concurrently with the closing of the business combination, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 7:58 pm

WING

Wingstop Inc (NASDAQ:WING) has entered into an accelerated share buyback agreement with Morgan Stanley to repurchase $125.0 million worth of common stock. The company's same-store sales are expected to exceed consensus estimates for Q3 and grow in the 8%+ range. Wedbush analyst Nick Setyan upgraded Wingstop from Neutral to Outperform and raised the price target from $180 to $200.

Portfolio Pulse from Priya Nigam

September 20, 2023 | 7:57 pm