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DHR

VLTO

Danaher Corporation has completed the spin-off of its Environmental & Applied Solutions segment, Veralto Corporation. Veralto will begin trading on the NYSE under the symbol 'VLTO' on October 2, 2023. Danaher stockholders received one share of Veralto for every three shares of Danaher held as of September 13, 2023. Approximately 246 million shares of Veralto were distributed.

Portfolio Pulse from Charles Gross

September 30, 2023 | 1:01 pm

GOOG

GOOGL

NFLX

Billionaire investor Bill Ackman has acquired a significant stake in Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), following Warren Buffett's investment strategy. Ackman's fund, Pershing Square Capital Management, initially acquired approximately 8.1 million Class C shares and 2.2 million Class A shares of Alphabet in Q1 2021, amounting to nearly $1.1 billion by the end of March. The fund added 1.3 million Class C shares in Q2, raising the value of the position to $1.4 billion. Alphabet now constitutes about 16% to 17% of the fund's capital.

Portfolio Pulse from Ananya Gairola

September 30, 2023 | 8:26 am

DWAC

FOX

Former President Donald Trump and Chris Christie, a Republican candidate for the 2024 presidential race, have been involved in a heated exchange after Trump skipped the second Republican primary debate. Trump used his Truth Social platform, set to merge with Digital World Acquisition Corporation (NASDAQ:DWAC), to criticize Christie. The debate was aired on Fox Business, a unit of Fox Corporation (NASDAQ:FOX).

Portfolio Pulse from Chris Katje

September 29, 2023 | 9:12 pm

ATVI

The article provides an industry comparison of Activision Blizzard (NASDAQ:ATVI) with its major competitors in the Entertainment industry. The analysis includes financial metrics, market position, and growth prospects. Activision Blizzard's P/E ratio is lower than the industry average, suggesting potential growth. However, its P/B and P/S ratios are higher than the industry average, indicating potential overvaluation. The company's ROE, EBITDA, and gross profit are lower than its peers, suggesting lower profitability and operational efficiency. However, the company's revenue growth is significantly higher than the industry average.

Portfolio Pulse from Benzinga Insights

September 29, 2023 | 8:56 pm

WFC

Wells Fargo has sold $2 billion of private equity fund investments in certain Norwest Equity Partners and Norwest Mezzanine Partners funds.

Portfolio Pulse from Bill Haddad

September 29, 2023 | 8:32 pm

RIVN

Rivian has agreed to build an electric vehicle (EV) manufacturing plant in Georgia, creating 7,000 new jobs for full-time employees and making a minimum capital investment of $5 billion in the project.

Portfolio Pulse from Bill Haddad

September 29, 2023 | 8:16 pm

JPM

QQQ

SPY

TLT

XLE

XOM

September has been a tough month for the U.S. stock market, with both the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust closing 5% lower. Treasury yields have surged, causing the iShares 20+ Year Treasury Bond ETF to tumble 8.7%. The potential U.S. government shutdown is causing market anxiety, with Moody's warning of adverse credit consequences. The Senate Banking Committee has approved the SAFE Banking Act, granting legal cannabis businesses access to banks. JPMorgan CEO Jamie Dimon expressed concern about potential interest rate surge to 7%. The energy sector, tracked by the Energy Select Sector SPDR Fund, was the week's best performer, with Exxon Mobil Corp. shares reaching new all-time highs.

Portfolio Pulse from Piero Cingari

September 29, 2023 | 8:13 pm

OGEN

Oragenics has entered into an agreement with Lantern Bioworks for replacement-therapy assets. Oragenics received a $50K cash payment and the opportunity to acquire 1M shares of Lantern equity. Lantern has committed to pay a 10% royalty on net income generated from the assets.

Portfolio Pulse from Bill Haddad

September 29, 2023 | 8:02 pm

JBL

Stifel analyst Matthew Sheerin reiterated a Buy rating on Jabil Inc. (NYSE:JBL), raising the price target to $135 from $120. Jabil's Q4 FY23 revenue was $8.46 billion, slightly below the consensus estimate. The company's FY24 outlook includes growth in key segments such as auto/transport, industrial, healthcare, and cloud. Jabil plans to spend $2.5 billion in share repurchases, which is expected to drive double-digit EPS growth in FY24 and FY25.

Portfolio Pulse from Nabaparna Bhattacharya

September 29, 2023 | 7:09 pm

HES

Hess Inc.'s shares are currently trading at $153.24, after a 2.17% drop. Despite a 2.52% fall over the past month, the stock has risen by 31.20% over the past year. The company's price-to-earnings (P/E) ratio is 32.7, significantly higher than the Oil, Gas & Consumable Fuels industry average of 7.79. This could indicate that the stock is overvalued or that shareholders expect it to outperform its industry group.

Portfolio Pulse from Benzinga Insights

September 29, 2023 | 7:00 pm