Streetbeat News

Equity Actions

RTX

RTX has announced a $10 billion accelerated share repurchase program, indicating a strong investment opportunity. The company is also increasing its capital return commitment through 2025 to $36 - $37 billion.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:04 am

DOW

Dow Inc. has announced that its CFO, Howard Ungerleider, has elected to retire and pursue new opportunities. Jeffrey L. Tate will replace him as CFO, effective November 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:04 am

GLD

SPY

USO

On Monday, October 23, the U.S. stock markets closed mixed with Nasdaq ending a four-day losing streak and Dow Jones Industrial Average declining by 0.58%. Asian markets closed higher on Tuesday, led by gains in various sectors. European markets were mixed, with the STOXX 600 index up 0.24%. Commodities saw Crude Oil WTI trading higher by 0.60% at $86.00/bbl, while Gold was trading lower by 0.48% at $1,978.25. US futures were up with Dow futures gaining 0.34%.

Portfolio Pulse from Akanksha Bakshi

October 24, 2023 | 10:43 am

LOGI

Logitech International S.A. (LOGI) shares rose by around 10% after reporting Q2 FY24 results. Despite an 8% Y/Y fall in revenue to $1.06 billion, the figure exceeded the consensus of $968.4 million. Adjusted gross margin expanded to 42.0%, and adjusted operating income grew 17% Y/Y to $183 million. The company also raised its FY24 sales guidance to $4.0 billion - $4.15 billion. Logitech returned $276 million to shareholders in Q2 FY24, including share repurchases of $94 million.

Portfolio Pulse from Lekha Gupta

October 24, 2023 | 10:29 am

CNC

Centene Corp has increased its FY23 guidances for adjusted EPS to $6.60, up from the previous $6.45, and above the estimated $6.5. The company also raised its premium and services revenues by $500M, against the estimated $148.5B. Additionally, Centene announced the divestiture of Circle Health for $1.2B.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 10:16 am

GE

General Electric (GE) has announced plans to spin off GE Vernova and launch GE Aerospace in the beginning of the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 10:14 am

GE

GEV

Shares of GE Vernova will be listed on the New York Stock Exchange under the ticker symbol 'GEV'. Meanwhile, GE Aerospace will continue GE's listing on the NYSE under the ticker symbol 'GE'.

Portfolio Pulse from Charles Gross

October 24, 2023 | 10:12 am

BRZE

DA Davidson analyst Gil Luria has upgraded Braze (NASDAQ:BRZE) from Neutral to Buy and set a price target of $53.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 8:32 am

BCS

Barclays Plc is planning to reduce structural costs, which may lead to additional charges in Q4 2023. The bank is targeting a cost: income ratio in the low 60s in 2023, with a medium-term target of below 60%. It also aims for a RoTE of over 10% in 2023, excluding structural costs. Barclays UK's Net Interest Margin is expected to be between 3.05% - 3.10% in 2023. The bank plans to continue operating within the CET1 ratio target range of 13-14% and its capital distribution policy includes a progressive ordinary dividend and share buybacks as appropriate.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 8:13 am

BTCUSD

DOGEUSD

ETHUSD

Dogecoin co-creator Billy Markus expressed his hopes for Bitcoin's monumental price surge and revealed his three favorite cryptocurrencies: Bitcoin, Ethereum, and Dogecoin. He also mentioned his strained relationship with the Dogecoin community. In related news, BlackRock’s iShares Bitcoin Trust, a highly anticipated spot Bitcoin ETF, has made significant progress towards its launch.

Portfolio Pulse from Mehab Qureshi

October 24, 2023 | 6:00 am