Streetbeat News

Equity Actions

A

Barclays analyst Jack Meehan maintains an Underweight rating on Agilent Technologies (NYSE:A) and lowers the price target from $115 to $110.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:48 am

EAT

Brinker International has provided its fiscal 2024 guidance, projecting total revenues between $4.27 billion and $4.35 billion, and adjusted EPS between $3.15 and $3.55. The company also expects weighted average shares to be in the range of 45 million to 46 million, and capital expenditures between $175 million and $195 million. The company notes that uncertainties due to current macroeconomic conditions could cause actual results to differ materially from projections.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:48 am

DINO

HF Sinclair Corporation's Board of Directors has authorized a $1 billion share repurchase program, replacing all existing authorizations. The previous $1 billion program, authorized in September 2022, had approximately $5 million remaining.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:41 am

AKAM

Akamai Technologies has priced its private offering of $1.1 billion in convertible senior notes due 2029. The company has also granted the initial purchasers an option to purchase up to an additional $165 million of notes. The net proceeds from this offering will be approximately $1.084 billion and will be used to repay a portion of its $1.15 billion of 0.125% Convertible Senior Notes due 2025 and to repurchase shares.

Portfolio Pulse from Shivani Kumaresan

August 16, 2023 | 9:56 am

F

GM

VFS

Vietnamese electric vehicle manufacturer VinFast (NASDAQ:VFS) concluded its first day of trading on the Nasdaq with a market capitalization of approximately $86 billion, surpassing established American automotive giants like Ford Motor Co (NYSE:F) and General Motors (NYSE:GM). The company's shares closed up 68.45% at $37.06. However, 99% of the company remains under the ownership of its parent entity, potentially exposing the stock to heightened volatility.

Portfolio Pulse from Anan Ashraf

August 16, 2023 | 9:53 am

GPOR

JP Morgan analyst Zach Parham has upgraded Gulfport Energy (NYSE:GPOR) from Neutral to Overweight and raised the price target from $117 to $131.

Portfolio Pulse from richadhand@benzinga.com

August 16, 2023 | 9:45 am

PXD

JP Morgan analyst Arun Jayaram has upgraded Pioneer Natural Resources (NYSE:PXD) from Neutral to Overweight and raised the price target from $251 to $264.

Portfolio Pulse from richadhand@benzinga.com

August 16, 2023 | 9:43 am

SE

Citigroup analyst Alicia Yap has downgraded Sea (NYSE:SE) from Buy to Neutral and set a price target of $50.

Portfolio Pulse from richadhand@benzinga.com

August 16, 2023 | 8:40 am

AAPL

HNHPF

Foxconn, a Taiwanese electronics company, has started the production of Apple's upcoming iPhone 15 in India. This move is part of Apple's strategy to diversify its manufacturing away from China and mitigate supply chain risks. Apple also plans to produce its AirPods at Foxconn’s facility in Hyderabad, India. The expansion in India has been supported by financial incentives from the government, leading to a substantial increase in iPhone production. Apple aims to manufacture 15 million iPhone 15 units in India this year, which would make up 20% of its global production.

Portfolio Pulse from Arpit Nayak

August 16, 2023 | 8:37 am

AKAM

Akamai Technologies has priced its private offering of $1.1 billion in convertible senior notes due 2029. The offering was upsized from the previously announced $1 billion. The notes will be sold to qualified institutional buyers and the sale is expected to close on August 18, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 7:38 am