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Equity Actions

OTLY

Oatly has announced that it has taken necessary steps to further reduce its SG&A overhead costs in both its Americas segment and its corporate functions.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 11:37 am

LECO

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) announced that its current CEO, Christopher L. Mapes, will retire at the end of 2023 and will be designated as Executive Chairman of the Board from January 1, 2024. Steven B. Hedlund, the current COO, will take over as President and CEO from January 1, 2024. Mapes will work closely with Hedlund to ensure a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:35 am

LECO

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) announced that its Chairman, President and CEO, Christopher L. Mapes, will retire as President and CEO on December 31, 2023, and will become Executive Chairman of the Board from January 1, 2024. Steven B. Hedlund, the current COO, will take over as President and CEO, and will also join the Board from January 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:34 am

AAPL

SSNLF

Samsung (OTC:SSNLF) plans to manufacture its newest foldable smartphones, the Galaxy Z Flip5 and Galaxy Z Fold5, in its factory in northern India, aiming to tap into the growing Indian premium smartphone market. The company is offering special deals to attract cost-conscious buyers and is expanding its retail presence by 30-40% compared to last year. Samsung's move follows Apple Inc (NASDAQ:AAPL) which also plans on making its upcoming flagship iPhones in India.

Portfolio Pulse from Shomik Sen Bhattacharjee

July 27, 2023 | 11:25 am

SHEL

Shell PLC (NYSE:SHEL) reported Q2 2023 revenues of $74.6 billion, missing the consensus of $79.2 billion. Adjusted EBITDA declined 37% Y/Y to $14.4 billion due to lower oil and gas prices, refining margins, volume decline, and lower LNG trading & optimization results. The company announced a $3 billion share repurchase program, scheduled for November 2, 2023, and expected to be completed by Q3 2023 results. Shell also disclosed a Q2 interim dividend of $0.331, up 15%, payable on September 18, 2023.

Portfolio Pulse from Lekha Gupta

July 27, 2023 | 11:24 am

AMT

American Tower Corporation (AMT) has raised its FY2023 FFO guidance from $9.53-9.76 to $9.61-9.79, which is slightly below the estimated $9.79. The company also provided its 2023 outlook, including total property revenue of $10.79-10.97 billion, net income of $1.785-1.845 billion, and adjusted EBITDA of $6.95-7.03 billion.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:15 am

CTCX

Carmell Therapeutics is merging with Axolotl Biologix. Axolotl's shareholders will receive $65 million in initial equity value, plus up to $75 million in potential milestone equity payments. The payments will be structured as 12% cash and 88% in CTCX stock. Axolotl will operate as a wholly owned subsidiary of Carmell after the merger.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 11:06 am

HSY

Hershey has updated its FY23 financial outlook, maintaining its net sales growth forecast, reducing its reported earnings-per-share, and increasing its adjusted earnings-per-share outlook. The company expects a tax rate of 16%, other expenses of $180-190 million, interest expense of $155 million, and capital expenditures of $800-850 million.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:50 am

BFH

Bread Financial has announced a $25M share buyback program.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:46 am

BA

B of A Securities analyst Ronald Epstein has upgraded Boeing (NYSE:BA) from Neutral to Buy and raised the price target from $225 to $300.

Portfolio Pulse from richadhand@benzinga.com

July 27, 2023 | 10:40 am