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LRE

Lead Real Estate Co Ltd has opened for trade with its initial public offering (IPO).

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 2:22 pm

NEP

NextEra Energy Partners LP (NEP) shares dropped by around 18% after the company revised its limited partner distribution per unit growth rate to 5% to 8% annually through at least 2026, with an expected growth rate of 6%. The company doesn't expect to require growth equity to meet its revised growth expectations until 2027. NEP also revised its year-end run-rate expectations for adjusted EBITDA and CAFD. The company's shares are down 17.8% at $38.54.

Portfolio Pulse from Lekha Gupta

September 27, 2023 | 2:17 pm

MCD

McDonald's Corp (NYSE:MCD) has announced a 1% increase in franchisee royalty charges, from 4% to 5%, starting next year. This decision is significant as franchisees operate 95% of McDonald's 40,000 global locations and their fees made up 61% of the company's $23 billion revenue last year. Meanwhile, McDonald's stock has seen a 4% decrease this month, breaching a significant support level at $271.

Portfolio Pulse from Zaheer Anwari

September 27, 2023 | 2:08 pm

YTRA

Yatra Online, Inc.'s Indian subsidiary, Yatra Online Limited, is set to commence trading on the Bombay Stock Exchange on September 28, 2023, after a successful IPO of $93 million. The parent company will retain about 65% ownership in the subsidiary. The IPO proceeds will be used for strategic investments, acquisitions, customer acquisition and retention, technology, and other growth initiatives. Yatra Online also benefits from an additional capital of ~$21 million by selling shareholder THCL. YTRA shares are trading higher by 7.34% at $2.34.

Portfolio Pulse from Akanksha Bakshi

September 27, 2023 | 2:08 pm

META

Meta Platforms Inc. CEO Mark Zuckerberg is reportedly undergoing a transformation similar to Bill Gates as he approaches his 40th birthday. Zuckerberg's recent activities, including his foray into mixed martial arts and interactions with Tesla CEO Elon Musk, are seen as part of his transition from Facebook's 'toddler CEO' to Meta's more seasoned leader. He is also focusing on long-term objectives and philanthropic work through the Chan Zuckerberg Initiative. His control over Meta remains near absolute due to the company's dual share structure.

Portfolio Pulse from Ramakrishnan M

September 27, 2023 | 1:53 pm

AGR

Avangrid, Inc. (NYSE:AGR) and Vitol Inc. have reached a transfer agreement for an estimated $100 million of 2023 production tax credits (PTCs) from eight operating wind farms. This is one of the largest publicly announced deals since the passage of the Inflation Reduction Act (IRA), which created a new transferable credit framework to help developers monetize PTCs. The agreement will allow Avangrid to pay down debt and make further capital investments.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 1:51 pm

AAPL

AMZN

BABA

JPM

LLY

MRNA

NVO

PAYX

PFE

QCOM

TGT

TRI

WBD

Alibaba's logistics arm Cainiao files for Hong Kong IPO, potentially boosting Alibaba's stock. Qualcomm's Snapdragon 8 Gen 3, manufactured under TSMC's process, is set to rival Apple's 3nm chip technology. The European Medicines Agency is investigating potential anesthesia complications linked to weight loss drugs like Wegovy by Novo Nordisk and others by Eli Lilly, AstraZeneca, and Sanofi. Target is closing nine stores due to rising retail crime. Paychex reports 7% sales growth in Q1 FY24. Hollywood writers secure credit in a new deal with studios like Warner Bros., Paramount Global, Netflix, and Walt Disney. JPMorgan settles Jeffrey Epstein lawsuit for $75M. Thomson Reuters faces Ross Intelligence in court over AI dispute. Pfizer's oral COVID-19 antiviral pill faces doubts over commercial approval. McKinsey settles opioid lawsuit for $230M. Eli Lilly wins patent infringement case against Teva. Apple defends its $19B Google search deal. Warner Music Group CEO shares vision on AI in music at Code Conference 2023. Amazon addresses return-to-office policy concerns. China's chip fund faces economic challenges. Moderna in talks for enhanced COVID-19 vaccine availability in Europe.

Portfolio Pulse from Vandana Singh

September 27, 2023 | 1:47 pm

KNW

Know Labs Inc (NASDAQ:KNW) shares dropped by 34% to $0.23 after the company announced a $7 million public offering of common stock. The offering is expected to close on September 29. The proceeds will be used for product development, clinical studies, general and administrative expenses, intellectual property, and working capital.

Portfolio Pulse from Henry Khederian

September 27, 2023 | 1:41 pm

AMZN

BABA

BIDU

NVDA

TCTZF

Alibaba Group Holding Limited (NYSE:BABA) is gaining attention from investors due to its rising earnings and deal-driven strategy. Despite being over 50% below its 5-year ago valuation, analysts suggest it may be a good time to invest in the company. Alibaba's revenue was up 14% in the quarter ended June 30, and net income was 51% higher. The company's net margin of 14.6% is significantly higher than its US rival Amazon.com, Inc. (NASDAQ:AMZN). Alibaba's new CEO Eddie Wu plans to divest Alibaba’s subsidiaries to unlock the company’s cash and increase its investment in tech.

Portfolio Pulse from Daniel Harrison

September 27, 2023 | 1:40 pm

SNAP

Snap Inc. has decided to wind down its AR Enterprise business due to the significant investment required to grow the enterprise offering for retailers. The company will continue to support its CameraKit partners and the AR platform. However, approximately 170 team members will be laid off. Snap will also focus on growing its Sponsored AR business on Snapchat.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 1:26 pm