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Equity Actions

URNM

Sprott Uranium Miners ETF (URNM) rose over 2% on Wednesday, with Bloomberg's senior ETF analyst, Eric Balchunas, predicting that Uranium ETFs could grow 2-3x in the next two years. Balchunas believes that the world's need for zero-carbon and affordable electricity, which nuclear energy provides, will drive this growth. From a technical analysis perspective, URNM could potentially surge about 33% in the short-to-medium term if it breaks up from its bull flag pattern.

Portfolio Pulse from Melanie Schaffer

September 20, 2023 | 4:39 pm

GRRR

Gorilla Technology Group has announced a $25 million registered direct offering of convertible preferred stock, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:19 pm

AMGN

A significant bearish stance has been taken on Amgen (NASDAQ:AMGN) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 31% bullish and 68% bearish. The whales have been targeting a price range from $210.0 to $280.0 for Amgen over the last 3 months. The price of AMGN is up 2.45% at $270.79. Truist Securities downgraded its action to Hold with a price target of $260, Argus Research maintained their Buy rating with a price target of $280, and HSBC downgraded its action to Buy with a price target of $320.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 4:16 pm

LULU

Investor Business Daily SwingTrader has reportedly purchased stock in Lululemon Athletica.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:14 pm

CHTR

CMCSA

DIS

NFLX

Morgan Stanley analyst Benjamin Swinburne reiterated an Overweight rating on Walt Disney Co (NYSE:DIS) with a price target of $105. Disney plans to increase investment in the Disney Parks, Experiences, and Products ("DPEP") segment. The recent Charter Communications, Inc (NASDAQ: CHTR) agreement clarifies the path for ESPN. Disney's media assets are valued at roughly $50 billion, less than 1x sales, or 30% of Netflix Inc's (NASDAQ:NFLX) current enterprise value. Unconfirmed reports suggest Disney is considering selling a 30% stake in ESPN at a $25-35 billion valuation. The analyst expects Disney to move aggressively to optimize content monetization in the years ahead.

Portfolio Pulse from Anusuya Lahiri

September 20, 2023 | 4:14 pm

SKIN

Beauty Health Co (NASDAQ:SKIN) plans to initiate a stock repurchase program on September 26, 2023, through Rule 10b5-1. The company's Board of Directors has authorized the repurchase of up to $100 million of its common stock. The company intends to fund its share repurchases with existing cash on hand and is not obligated to acquire any particular amount of stock. As of June 30, 2023, the company held $549.7 million in cash and equivalents.

Portfolio Pulse from Shivani Kumaresan

September 20, 2023 | 4:03 pm

NIO

NIO shares are experiencing volatility following the company's announcement of a proposed offering of $1 billion convertible senior notes.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:03 pm

ELV

Elevance Health Officers have announced their intention to reaffirm the company's net income guidance for FY23 to be greater than $29.09 per share. Excluding certain items, the adjusted net income is expected to be greater than $32.85 per share for FY23. The FY23 share view is $32.93.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:52 pm

BACHY

BKEAY

BYDDY

CITAF

DNFGY

HACOF

HSBC

LNNGY

PCCYF

TCEHY

XIACY

YUMC

Hong Kong-listed and Chinese companies are increasing stock buybacks and dividend payouts as their domestic markets remain depressed. This trend is expected to continue throughout the year. In 2022, Hong Kong stock buybacks amounted to $13.4 billion. The Hang Seng Index forecasts that the buyback trend will continue to over $90 billion of stock buybacks by year-end. Record dividend payouts by China’s biggest firms, including Bank of China Ltd. and PetroChina Co Ltd., have reached $206 billion so far this year. Among the Hong Kong companies buying back their shares are Yum China, Tencent, HSBC Holdings Plc., Hanison Construction Holdings Ltd., Bank of East Asia Limited, Cosco Shipping Development Co Ltd, Li Ning Co. Ltd. and Dongfeng Motor Co. Ltd.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 3:45 pm

TXT

Textron announced a 'record-breaking' fleet agreement for the option for NetJets to purchase up to 1,500 additional Cessna Citation business jets over the next 15 years. This has led to a rise in Textron shares.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:29 pm