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TSM

Intel Corp. plans to spin off its Programmable Solutions Group (PSG) as an independent entity, with the aim of conducting an initial public offering (IPO) within the next two to three years. Intel's PSG, which designs and manufactures field programmable gate arrays (FPGAs), has been a strong performer, delivering three consecutive record-breaking quarters. The move is part of Intel's strategy to focus on its manufacturing foundry operations and compete with Taiwan Semiconductor Manufacturing Co. Ltd.

Portfolio Pulse from Aditi Ganguly

October 24, 2023 | 7:32 pm

ETN

Eaton Corp Inc.'s (NYSE:ETN) share price is currently at $199.10, after a 1.86% increase. Over the past month, the stock decreased by 5.63%, but increased by 36.88% over the past year. The company's P/E ratio of 28.87 is higher than the Electrical Equipment industry average of 24.51, indicating that investors expect the company to perform better in the future. However, this could also suggest that the stock is overvalued.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 7:30 pm

UNH

A significant investor has taken a bullish stance on UnitedHealth Group (NYSE:UNH), with 50% of investors opening trades with bullish expectations and 50% with bearish. The whales have been targeting a price range from $415.0 to $580.0 for UnitedHealth Group over the last 3 months. The price of UNH is up 0.84% at $525.97. UBS upgraded its action to Buy with a price target of $640, while Jefferies, Morgan Stanley, RBC Capital, and Piper Sandler maintained their ratings with price targets of $531, $579, $596, and $584 respectively.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 7:16 pm

PBR

Petroleo Brasileiro's CFO announced that the company's reserve fund, approved by the board, can only be used to pay dividends and not for investments. The decision on potential payment of extra dividends will be made at the end of the year.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 7:04 pm

GSK

GSK Inc.'s share price is currently at $35.85, marking a 0.15% increase in the current market session. Despite a 3.82% decrease over the past month, the stock has seen a 9.68% increase over the past year. The company's P/E ratio, a measure of current share price to the company's EPS, is 11.63, lower than the aggregate P/E ratio of 31.85 in the Pharmaceuticals industry. This could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 6:30 pm

UNF

UniFirst Corporation has announced a new $100 million share repurchase authorization. This move is expected to return value to shareholders and indicates the company's confidence in its financial stability.

Portfolio Pulse from Charles Gross

October 24, 2023 | 6:27 pm

IBM

BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on International Business Machines Corporation (IBM) with a price target of $152. Bachman notes steady software demand and potential for IBM to meet or exceed estimates in 2HFY23, helped by M&A. The early closure of the Apptio deal could provide a slight upside. However, Bachman remains skeptical about IBM's consulting estimates in 2HFY23 and expects margin challenges to persist.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 6:02 pm

LVS

NVDA

The article discusses several key topics in investing this week. Las Vegas Sands (LVS) reported a strong Q3, with near-record results in Singapore and Macau nearing 2019 levels. The company has reinstated dividends and increased stock buyback authorization to $2B. Nvidia (NVDA) stock fell by about 10% due to the ongoing trade war with China. The US government's limitation on Nvidia's chip exports to China, which makes up 20% of its revenue, is seen as a significant factor. The article also discusses the Federal Reserve's stance on inflation and the yield curve, strong consumer sales, and Argentina's economic policy.

Portfolio Pulse from Gary Brode

October 24, 2023 | 5:53 pm

ABNB

CAVA

CZR

IGT

NIO

NKE

RIVN

TSLA

Benzinga's options activity scanner has tracked significant options activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Rivian (RIVN), NIO (NIO), Li Auto (LI), Caesars Entertainment (CZR), Airbnb (ABNB), International Game Technology (IGT), Nike (NKE), Cava (CAVA), and RH (RH). The options activity ranged from bullish to bearish and neutral sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 5:35 pm

CRM

Salesforce (NYSE:CRM) has seen unusual options activity, with a majority of investors taking a bearish stance. Of the 10 strange trades detected, 60% were bearish and 40% bullish. The total amount for the 6 puts was $558,816 and for the 4 calls was $249,735. Whales have been targeting a price range from $165.0 to $300.0 for Salesforce over the last 3 months. The company's stock price is currently down -0.31% at $201.37. Truist Securities and Piper Sandler have downgraded their actions to Buy and Neutral respectively.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 5:15 pm