Streetbeat News

Equity Actions

CART

Maplebear Inc., trading as Instacart under the symbol CART, saw its stock fall 19.76% on its first day of trading after its IPO. The company initially offered 22 million shares at $30.00 per share. The insider lock-up period is set to end on March 17, 2024, which could potentially lead to an increase in the supply of shares.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 9:30 pm

CTOS

Custom Truck One Source (CTOS) board has approved a stock repurchase program that authorizes the repurchase of up to $25M of shares, according to a recent filing.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:58 pm

KDP

Keurig Dr Pepper's Chairman & CEO, Bob Gamgort, will guide the company through a transition period before taking on the role of Executive Chairman.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:37 pm

CENT

KDP

Central Garden & Pet's CEO, Tim Cofer, has left the company to join Keurig Dr Pepper. The company has appointed Beth Springer, the Lead Independent Director, as the Interim CEO.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:31 pm

DAL

Private aviation company Wheels Up has finalized a new investment deal with Delta Air Lines, Certares, Knighthead, and Cox. The new board structure will include four directors from Delta, two each from Certares and Knighthead, one from Cox, one company executive, and two independent directors from the previous board.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:29 pm

INTC

QQQ

The Nasdaq 100 index fell to late August lows following the Federal Reserve's decision to maintain rates at 5.25%-5.5% and hint at a possible rate hike by the end of 2023. The Invesco QQQ Trust, the largest ETF tracking the Nasdaq 100, dropped 1.5%. Other ETFs such as SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF, and Dow Jones Industrial Average ETF also experienced declines. Among S&P 500 mega caps, Intel Corp., Alphabet Inc., Nvidia Corp., Netflix Inc., and Microsoft Corp. were the worst performers.

Portfolio Pulse from Piero Cingari

September 20, 2023 | 8:25 pm

ARM

NVDA

The article discusses the current economic situation, focusing on inflation, interest rates, and the impact of the Federal Reserve's actions. It also mentions the IPO of Arm Holdings, which is trading above Nvidia's valuation, despite skepticism about its role in AI advancements. The article suggests that the Federal Reserve's rate hikes are not solely responsible for the current inflation and economic growth, pointing to Congressional overspending as another factor.

Portfolio Pulse from Gary Brode

September 20, 2023 | 8:18 pm

FDX

FedEx Corp reported Q1 revenue of $21.7 billion, missing the consensus estimate of $21.81 billion, but beat earnings estimates with $4.55 per share. The results were driven by the DRIVE program and focus on revenue quality, offset by ongoing demand weakness. FedEx lowered its full-year revenue guidance but raised its earnings outlook. The company also plans to repurchase an additional $1.5 billion of its common stock during fiscal 2024. FedEx shares were up 4.89% after hours.

Portfolio Pulse from Adam Eckert

September 20, 2023 | 8:17 pm

GPOR

Gulfport Energy has expanded its common stock repurchase authorization by 63% to $650 million. Since the inception of the repurchase program, the company has repurchased approximately 3.9 million shares of common stock for $331.3 million.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:16 pm

GILD

Gilead Sciences (NASDAQ:GILD) has seen unusual options activity, with a significant number of bullish trades. Whales have been targeting a price range from $60.0 to $95.0 for Gilead Sciences over the last 3 months. The company's stock price is currently up 0.07% at $75.82. Truist Securities and B of A Securities have upgraded their actions to Buy with price targets of $91 and $95 respectively, while HSBC has downgraded its action to Reduce with a price target of $71.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 8:15 pm