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Equity Actions

EIS

SPY

Federal Reserve's Bostic has stated that the ongoing war in Israel is creating uncertainty in the economy. The impact of this uncertainty on US-listed ETFs like EIS (iShares MSCI Israel ETF) and SPY (SPDR S&P 500 ETF Trust) is yet to be determined.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 1:49 pm

CMG

A significant bearish stance has been taken on Chipotle Mexican Grill (NYSE:CMG) by a large investor or institution, as evidenced by unusual options trading activity. The sentiment among these big-money traders is 18% bullish and 81% bearish. The whales have been targeting a price range from $1250.0 to $1900.0 for Chipotle over the last 3 months. The current price of CMG is $1833.01. Analysts from Truist Securities and Oppenheimer maintain their Buy and Outperform ratings respectively, with price targets above $2200.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 1:46 pm

TSLA

A significant bearish stance on Tesla (NASDAQ:TSLA) has been observed through unusual options activity. Benzinga's options scanner spotted 132 uncommon options trades for Tesla, with a split sentiment of 46% bullish and 53% bearish. The whales have been targeting a price range from $160.0 to $305.0 for Tesla over the last 3 months. RBC Capital and Morgan Stanley have downgraded their actions on Tesla, while Wells Fargo maintains their Equal-Weight rating.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 1:46 pm

NNOX

Nanox has announced that it will continue its business operations as planned, but has decided to postpone its Investor Day, which was originally scheduled for October 17, 2023.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 1:25 pm

EMR

H

NATI

Hyatt Hotels Corp (H) is set to join the S&P MidCap 400, replacing National Instruments Corp (NATI) which is being acquired by Emerson Electric Co (EMR). This change will take effect before the market opens on Thursday. Hyatt's shares have risen 15.49% year-to-date and were up 6.27% at the time of the report. The company is due to report Q3 results on Nov. 2, with analysts expecting earnings of 62 cents per share on revenue of $1.632 billion.

Portfolio Pulse from Adam Eckert

October 10, 2023 | 1:19 pm

CRM

Salesforce Inc.'s (NYSE:CRM) share price is currently at $208.24, after a 0.49% increase. Despite a 6.77% decrease over the past month, the stock has risen by 45.23% over the past year. The company's P/E ratio of 129.51 is higher than the Software industry's aggregate P/E ratio of 122.1, suggesting that the stock may be overvalued.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 1:15 pm

RICK

RCI Hospitality Holdings, Inc. (NASDAQ:RICK) reported a 5.6% YoY increase in Q4 sales for its Nightclubs and Bombshells restaurants, totaling $74.1 million. The increase was primarily due to acquisitions, partially offset by the effect of vacation travel and Texas heat. Nightclubs sales increased by 7.5% YoY, while Bombshells sales decreased by 2.2%. The company also repurchased 32,586 common shares for $2.13 million in 4Q23.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 1:13 pm

HON

Honeywell International Inc (NASDAQ:HON) has announced a realignment of its business segments to drive organic sales growth and inorganic capital deployment. The new segments, effective Q1 FY24, are Aerospace Technologies, Industrial Automation, Building Automation, and Energy and Sustainability Solutions. The company reaffirmed its Q3 guidance for sales at $9.1 billion-$9.3 billion and segment margin at 22.3%-22.6%. HON shares are trading higher by 0.40% at $187.26 premarket on the last check Tuesday.

Portfolio Pulse from Lekha Gupta

October 10, 2023 | 1:13 pm

TSLA

Tesla is constructing a new facility in Austin, Texas, to house part of its new supercomputer, Dojo. The supercomputer will run the AI software for Tesla's self-driving vehicles. CEO Elon Musk has suggested that Tesla could eventually use Dojo to sell cloud services to other companies, similar to Amazon Web Services.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 1:11 pm

MITK

The Concerned Stockholder Group, significant stockholders of Mitek Systems, Inc. (NASDAQ:MITK), issued an open letter to the company's Board of Directors expressing their concerns about the company's performance and strategic decisions. They criticized the company's share price underperformance, delinquency of financials, and lack of capital allocation discipline. They also suggested that the company's ID Business and Deposit Business should be separated and that a comprehensive strategic review should be conducted to unlock stockholder value.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 1:10 pm