Streetbeat News

Equity Actions

WSBC

WesBanco, Inc. (NASDAQ:WSBC) has announced that President and CEO Todd F. Clossin and Senior Executive Vice President and COO Jeffrey H. Jackson have entered into new and amended employment agreements as part of the company's CEO succession plan. Clossin, who has served as CEO since 2014, will become a Vice Chairman of the company's Board of Directors effective August 1, 2023, and will retire on December 31, 2023. Jackson, who joined WesBanco in August 2022, will take over as CEO and has entered into a new three-year revolving term Employment Agreement.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 12:32 pm

AAPL

AMZN

CMCSA

NFLX

PARA

SONY

Hollywood writers and actors are striking against studios and streamers over a fair labor contract. Mary Trump, the niece of former President Donald Trump, has voiced her support for the striking Hollywood workforce. The Screen Actors Guild and American Federation of Television and Radio Artists have been on strike since July 14, demanding higher pay amid inflation. Studios including Comcast Corp.'s NBCUniversal, Paramount Global, Apple, Inc., Netflix, Inc., Amazon, Inc. and Sony Group Corp.'s Sony Pictures Entertainment have failed to negotiate pay raises for performers.

Portfolio Pulse from Shanthi Rexaline

July 21, 2023 | 12:24 pm

AAPL

GOOG

GOOGL

MSFT

Microsoft CEO Satya Nadella's earnings have exceeded $1 billion, largely due to the company's stock surge and strategic investment in OpenAI's ChatGPT. Microsoft's shares have gained over 1,000% since Nadella became CEO in 2014, with a nearly 50% surge in 2023. A significant portion of Nadella's earnings comes from equity grants tied to performance and service time. Other tech CEOs, including Apple's Tim Cook and Alphabet's Sundar Pichai, have also seen significant paydays due to stock-based compensation plans.

Portfolio Pulse from Anusuya Lahiri

July 21, 2023 | 12:01 pm

BABA

FXI

KWEB

Alibaba Group Holding Limited (NASDAQ:BABA) stock is trading higher following China's 31-point plan to provide more robust support for private firms. The plan addresses issues like market entry, fair competition, financing support, payment defaults, intellectual property rights, and legal protection. Alibaba is also focusing on its generative AI endeavors and organizational restructuring to unlock higher shareholder value. Chinese ETFs IShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB) are also trading higher.

Portfolio Pulse from Anusuya Lahiri

July 21, 2023 | 11:48 am

CNVS

DUO

LOV

MOBQ

The article lists four oversold stocks in the communication services sector that may present buying opportunities. These include Cineverse Corp. (NASDAQ:CNVS), Fangdd Network Group Ltd. (NASDAQ:DUO), Spark Networks SE (NASDAQ:LOV), and Mobiquity Technologies, Inc. (NASDAQ:MOBQ). All four stocks have an RSI value below 30, indicating they are oversold.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 11:46 am

NFLX

QQQ

SPY

TSLA

TSM

Stock futures suggest a positive start to the week's final trading session, reflecting optimism for positive earnings reports from AI-levered big techs. However, caution is expected due to the upcoming Fed meeting and its commentary on the rate outlook. The tech slump on Thursday, driven by negative reactions to earnings from Tesla, Taiwan Semiconductor Manufacturing Company, and Netflix, dragged the Nasdaq Composite Index lower. The Dow Industrials continued to push higher, closing at nearly an 18-month high. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained. Tesla rebounded from Thursday's slide, while Xirius SM Holdings fell after its rally on Thursday.

Portfolio Pulse from Shanthi Rexaline

July 21, 2023 | 11:19 am

BJDX

Bluejay Diagnostics' board has approved a reverse stock split of its shares at a ratio of 1-for-20.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 11:08 am

ROP

Roper Technologies has raised its Q3 2023 adjusted EPS forecast to $4.16 - $4.20, from an estimate of $4.16. The company also increased its full-year 2023 adjusted EPS guidance to $16.36 - $16.50, up from the previous range of $16.10 - $16.30.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 10:59 am

FOR

BTIG analyst Carl Reichardt has upgraded Forestar Group (NYSE:FOR) from Neutral to Buy and set a price target of $32.

Portfolio Pulse from richadhand@benzinga.com

July 21, 2023 | 10:41 am

HITI

High Tide has filed a prospectus for a mixed shelf of up to C$100 million.

Portfolio Pulse from Charles Gross

July 21, 2023 | 10:17 am