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Equity Actions

LULU

Investor Business Daily SwingTrader has reportedly purchased stock in Lululemon Athletica.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:14 pm

CHTR

CMCSA

DIS

NFLX

Morgan Stanley analyst Benjamin Swinburne reiterated an Overweight rating on Walt Disney Co (NYSE:DIS) with a price target of $105. Disney plans to increase investment in the Disney Parks, Experiences, and Products ("DPEP") segment. The recent Charter Communications, Inc (NASDAQ: CHTR) agreement clarifies the path for ESPN. Disney's media assets are valued at roughly $50 billion, less than 1x sales, or 30% of Netflix Inc's (NASDAQ:NFLX) current enterprise value. Unconfirmed reports suggest Disney is considering selling a 30% stake in ESPN at a $25-35 billion valuation. The analyst expects Disney to move aggressively to optimize content monetization in the years ahead.

Portfolio Pulse from Anusuya Lahiri

September 20, 2023 | 4:14 pm

SKIN

Beauty Health Co (NASDAQ:SKIN) plans to initiate a stock repurchase program on September 26, 2023, through Rule 10b5-1. The company's Board of Directors has authorized the repurchase of up to $100 million of its common stock. The company intends to fund its share repurchases with existing cash on hand and is not obligated to acquire any particular amount of stock. As of June 30, 2023, the company held $549.7 million in cash and equivalents.

Portfolio Pulse from Shivani Kumaresan

September 20, 2023 | 4:03 pm

NIO

NIO shares are experiencing volatility following the company's announcement of a proposed offering of $1 billion convertible senior notes.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:03 pm

ELV

Elevance Health Officers have announced their intention to reaffirm the company's net income guidance for FY23 to be greater than $29.09 per share. Excluding certain items, the adjusted net income is expected to be greater than $32.85 per share for FY23. The FY23 share view is $32.93.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:52 pm

BACHY

BKEAY

BYDDY

CITAF

DNFGY

HACOF

HSBC

LNNGY

PCCYF

TCEHY

XIACY

YUMC

Hong Kong-listed and Chinese companies are increasing stock buybacks and dividend payouts as their domestic markets remain depressed. This trend is expected to continue throughout the year. In 2022, Hong Kong stock buybacks amounted to $13.4 billion. The Hang Seng Index forecasts that the buyback trend will continue to over $90 billion of stock buybacks by year-end. Record dividend payouts by China’s biggest firms, including Bank of China Ltd. and PetroChina Co Ltd., have reached $206 billion so far this year. Among the Hong Kong companies buying back their shares are Yum China, Tencent, HSBC Holdings Plc., Hanison Construction Holdings Ltd., Bank of East Asia Limited, Cosco Shipping Development Co Ltd, Li Ning Co. Ltd. and Dongfeng Motor Co. Ltd.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 3:45 pm

TXT

Textron announced a 'record-breaking' fleet agreement for the option for NetJets to purchase up to 1,500 additional Cessna Citation business jets over the next 15 years. This has led to a rise in Textron shares.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:29 pm

CHWY

Chewy Inc's shares are trading lower by 4.5% after Oppenheimer analyst Rupesh Parikh downgraded the shares from Outperform to Perform. The company's shares have also been affected by a downward momentum following a mixed shelf offering. Over the past month, Chewy's shares have fallen by 32% due to continued weakness after the company reported its Q2 results. The company intends to use the net proceeds from the sale of securities for general corporate purposes.

Portfolio Pulse from Henry Khederian

September 20, 2023 | 3:14 pm

SPY

Erin Browne, portfolio manager for multi-asset strategies at PIMCO, warns that the surge in fuel prices could potentially trigger a recession and drive the S&P 500 Index down by approximately 15%. Browne suggests that the rise in oil prices could lead to increased prices for durable goods, negatively impacting the economy and making it difficult for the Federal Reserve to meet market expectations of three rate cuts next year. She also anticipates potential signals of stronger demand for goods in 2024, particularly in consumer-oriented sectors and semiconductor companies.

Portfolio Pulse from Piero Cingari

September 20, 2023 | 3:14 pm

NIO

NIO Inc (NYSE:NIO) shares are trading higher after the company proposed an offering of $500 million in convertible senior notes due 2029 and 2029. The company also plans to grant the initial purchasers an option to purchase up to an additional $75 million of the 2029 and 2030 notes. The proceeds will be used to repurchase existing debt securities due in 2026 and 2027 and to strengthen the company's balance sheet.

Portfolio Pulse from Adam Eckert

September 20, 2023 | 3:12 pm