Streetbeat News

Equity Actions

EIS

SPY

USO

The Likud party, led by Netanyahu, has announced that significant progress has been made towards forming a unity government. This political development could have implications for various US-listed ETFs that are exposed to Israel's economy and politics.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 4:15 pm

RICK

RCI Hospitality Holdings Inc reported a 5.6% YoY increase in Q4 FY23 sales for its Nightclubs and Bombshells restaurants, totaling $74.1 million. Nightclubs sales increased by 7.5% YoY, while Bombshells sales slightly decreased. The company also repurchased 32,586 common shares for $2.13 million in Q4. The company is planning to open Rick's Cabaret Steakhouse & Casino and Bombshells Sports Casino in FY24.

Portfolio Pulse from Shivani Kumaresan

October 10, 2023 | 4:12 pm

RIVN

UBS analyst Joseph Spak has upgraded Rivian Automotive Inc (NASDAQ:RIVN) from a Neutral rating to a Buy rating and lowered its price target from $26 to $24. This follows Rivian's recent capital raise which led to near-term weakness but positioned the company for greater upside. Rivian shares are down about 20% since the company announced a $1.5 billion convertible debt offering. UBS sees a reduced probability of an additional capital raise over the next year. Rivian is expected to produce approximately 54,500 vehicles this year and could raise estimates when it reports earnings on Nov. 7.

Portfolio Pulse from Adam Eckert

October 10, 2023 | 4:11 pm

NVO

Investor Business Daily SwingTrader has reportedly purchased shares in Novo Nordisk (NVO).

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 4:03 pm

ADBE

Adobe (NASDAQ:ADBE) announced over 100 major innovations and updates across Creative Cloud at Adobe MAX, the world's largest creativity conference. The updates include AI-powered features in Adobe Illustrator, Adobe Photoshop, Adobe Lightroom, Adobe Premiere Pro, Adobe After Effects, and Adobe Stock. Adobe also introduced new Firefly-powered workflows in Illustrator and Adobe Express. The company also announced the general availability of Photoshop on the web, AI-powered Text-Based Editing in Premiere Pro, and Roto Brush in After Effects.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 4:02 pm

ABNB

The article provides a comprehensive comparison of Airbnb (NASDAQ:ABNB) with its competitors in the Hotels, Restaurants & Leisure industry. It evaluates Airbnb's financial metrics, market position, and growth potential. The analysis reveals that Airbnb's PE ratio is lower than the industry average, suggesting potential value. However, its PB and PS ratios are high, indicating potential overvaluation. Airbnb's ROE is lower than the industry average, suggesting potential inefficiency. However, its EBITDA and gross profit are higher than the industry average, indicating strong profitability and robust cash flow.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 4:00 pm

AAPL

The article provides a comprehensive comparison of Apple (NASDAQ:AAPL) against its key competitors in the Technology Hardware, Storage & Peripherals industry. It evaluates Apple's financial metrics, market position, and growth prospects. Apple's P/E ratio is lower than the industry average, suggesting potential value. However, its P/B and P/S ratios are higher than the industry average, indicating potential overvaluation. Apple's ROE, EBITDA, and gross profit are higher than the industry average, demonstrating profitability and growth potential. However, its revenue growth is lower than the industry average.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 4:00 pm

CPRT

Copart Inc (NASDAQ:CPRT) has entered into a strategic investment and partnership with Purple Wave, Inc., an online offsite heavy equipment auction company. The details of the investment were not disclosed. Purple Wave facilitates the sale of construction, agriculture and fleet equipment directly from a seller's location through its no-reserve auction platform. Copart's technology and online auction platform links sellers to more than 750,000 members in over 190 countries.

Portfolio Pulse from Shivani Kumaresan

October 10, 2023 | 3:56 pm

NOW

A significant bullish stance has been taken on ServiceNow (NYSE:NOW) by a large investor, as indicated by a large position in the company's options. The overall sentiment of these big-money traders is split between 57% bullish and 42% bearish. The price target for ServiceNow over the last 3 months has been between $280.0 to $590.0. HSBC, Stifel, and JMP Securities have all downgraded their actions to Buy with price targets of $704, $640, and $665 respectively.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 3:45 pm

BAC

HYSNY

UBS

Hong Kong property developer Hysan Development Company Limited (OTC:HYSNY) has issued a prospectus for up to $4 billion of medium-term bonds, more than 10 times its average medium-term debt tranche. The bonds are being issued in the form of zero-coupon notes that are heavily discounted to institutional purchasers. The company plans to list the bonds on the Hong Kong exchanges within the next 12 months. The bonds are unsecured and reliant on a guarantee by Hysan to repay. Bank of America Corporation (NYSE:BAC) and UBS Group AG (NYSE:UBS) are handling the debt issuance.

Portfolio Pulse from Daniel Harrison

October 10, 2023 | 3:43 pm