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Equity Actions

BSRR

Sierra Bancorp (NASDAQ:BSRR) has announced that its Board of Directors has approved a new share repurchase program. The company is authorized to repurchase up to one million shares of its outstanding common stock, commencing after the current share repurchase program expires on October 31, 2023, and continuing until October 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 12:04 pm

KNX

NFLX

QQQ

SEDG

SPY

The market sentiment remains negative due to mixed earnings and rate worries. Crude oil continues to rise, questioning the U.S. government's decision to buy oil. The Nasdaq Composite and the S&P 500 indices closed lower for the third straight session. Netflix shares rallied following its quarterly results. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF slipped in premarket trading. Stocks of Knight-Swift Transportation soared following their quarterly results, while SolarEdge Technologies plunged after warning of a Q3 shortfall.

Portfolio Pulse from Shanthi Rexaline

October 20, 2023 | 11:26 am

AAPL

FXI

SPY

China's Vice Premier Ding Xuexiang has stated that China is willing to provide more opportunities for foreign-funded enterprises, including Apple, to develop in China.

Portfolio Pulse from Charles Gross

October 20, 2023 | 11:07 am

SXT

Sensient Technologies has revised its 2023 outlook, now expecting full year GAAP diluted earnings per share to be down low double digits YoY, compared to the previous guidance of high single digits. The company also anticipates 2023 revenue to grow at a low single-digit rate, down from the previous guidance of mid-single-digit growth. The changes are attributed to higher interest rates, a higher tax rate, and foreign exchange rates.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 11:03 am

VFS

VinFast has entered into a Standby Equity Subscription Agreement with YA II PN, Ltd. Under this agreement, VinFast has the right to issue ordinary shares worth up to $1B to Yorkville.

Portfolio Pulse from Charles Gross

October 20, 2023 | 10:28 am

GEHI

Gravitas Education has announced plans to change the ratio of its ADS to Class A ordinary shares. The change will be from 1 ADS representing 20 shares to 1 ADS representing 10 shares, and it will be effective from October 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 10:25 am

AXP

HBAN

NFLX

SLB

TSLA

US stocks closed lower following comments from Federal Reserve Chair Jerome Powell acknowledging persistent elevated inflation levels. The CNN Money Fear and Greed index showed increased fear among investors. Tesla shares fell 9.3% after reporting worse-than-expected Q3 results, while Netflix shares jumped 16% after better-than-expected Q3 results. Investors are awaiting earnings results from American Express, Schlumberger, and Huntington Bancshares.

Portfolio Pulse from Lisa Levin

October 20, 2023 | 10:10 am

AAPL

BRK

IPDP

Warren Buffett's Berkshire Hathaway (NYSE:BRK) holds significant stakes in Apple Inc. (NASDAQ:AAPL) and The Coca-Cola Company (NYSE:KO), which together contribute over $1.6 billion in annual dividend income. Berkshire Hathaway's stake in Apple is worth more than $162 billion, providing nearly $900 million a year in dividends. Its Coca-Cola shares are worth over $21 billion, yielding $736 million in dividends. Other dividend contributors include Occidental Petroleum (NYSE:OXY), Chevron (NYSE:CVX), and Bank of America (NYSE:BAC), bringing the total annual dividend income to $4.31 billion. The article also mentions the option of investing in a dividend-focused fund like Innovative Portfolios' Dividend Performers ETF (BATS:IPDP).

Portfolio Pulse from Johnny Rice

October 20, 2023 | 9:55 am

OWL

UBS analyst Adam Beatty has downgraded Blue Owl Capital (NYSE:OWL) from Buy to Neutral and lowered the price target from $15 to $14.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 9:25 am

FFIE

Faraday Future Intelligence Electric (NASDAQ:FFIE) has secured a $12 million capital injection through a sale-leaseback arrangement of its manufacturing facility in Hanford, California. The move aims to support plant improvements and infrastructure enhancements, facilitating increased production capacity for the upcoming FF 91 2.0 Futurist Alliance. The company recently outlined a plan to achieve financial stability through cost reduction and without relying much on external funding.

Portfolio Pulse from Anan Ashraf

October 20, 2023 | 7:51 am