Streetbeat News

Equity Actions

SWN

Southwestern Energy has reduced its full-year capital investment guidance by $200M, or approximately 10%, due to activity reductions, moderating inflation, and operational efficiencies.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 2:32 pm

BABA

TCEHY

US lawmakers have written to President Biden expressing concerns over US capital investment in China, particularly in critical technologies. They highlight the national security risk and potential human rights abuses associated with such investments. Over $200 billion of US capital is invested in Chinese companies through private markets, and over $1.1 trillion through public markets. This includes investments in Alibaba Group Holding Ltd and Tencent Holdings Ltd. The lawmakers call for transparency and restrictions on problematic investments.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 2:32 pm

GMED

Globus Medical has increased its full year 2023 net sales guidance to $1.125 billion, up from $1.100 billion, and reaffirmed non-GAAP diluted earnings per share of $2.30. This is slightly below the estimated EPS of $2.34.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 2:30 pm

RKT

Rocket Companies has appointed Varun Krishna as its new CEO. Krishna will also serve as the CEO of Rocket Mortgage.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 2:28 pm

STM

STMicroelectronics Inc.'s stock price is currently at $51.24, after a 1.54% decrease. However, over the past month, the stock increased by 8.22%, and in the past year, by 33.00%. The company's P/E ratio is lower than the aggregate P/E of the Semiconductors & Semiconductor Equipment industry, which could indicate that the stock is undervalued or that shareholders do not expect the stock to perform better in the future.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 2:28 pm

NUGL

SILFF

Psychedelics and wellness company Silo Wellness (OTCQB:SILFF) and Jamaican NUGL Inc. (OTC:NUGL) have announced a strategic partnership to offer psychedelic wellness experiences and retreats in Jamaica. As part of the partnership, Silo Wellness has acquired 25,081,369 NUGL shares and issued 15,293,640 of its Class A shares. The shares cannot be transferred or sold for a minimum of 12 months. The partnership will combine Kaya's retail locations and wellness center with Silo's expertise in managing psilocybin wellness retreats.

Portfolio Pulse from Lara Goldstein

August 04, 2023 | 2:26 pm

BTCUSD

SQ

Block Inc (NYSE:SQ) reported Q2 earnings that beat estimates, with revenue up 26% YoY to $5.54 billion and earnings per share at 39 cents. Gross profits rose 27% YoY, driven by Square and Cash App. The company is focusing on omnichannel, upmarket growth, global expansion, and AI integration. Block held $245 million in Bitcoin as of June 30 and ended the quarter with $6.8 billion in cash, equivalents, and investments. The company also raised its Q3 expectations.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 2:26 pm

BGS

B&G Foods has revised its net sales guidance for fiscal 2023 to a range of $2.110 billion to $2.130 billion, reaffirming its adjusted EBITDA guidance at a range of $310 million to $330 million, and its adjusted diluted earnings per share guidance at a range of $0.95 to $1.15. The company provides earnings guidance only on a non-GAAP basis and does not provide a reconciliation of its forward-looking adjusted EBITDA and adjusted diluted earnings per share guidance to the most directly comparable GAAP financial measures.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 2:26 pm

EL

A whale investor has taken a bullish stance on Estee Lauder Cos (NYSE:EL), with 50% of investors opening trades with bullish expectations and 50% with bearish. The whale has been targeting a price range from $155.0 to $220.0 for Estee Lauder over the last 3 months. The price of EL is up 0.1% at $172.68. TD Cowen and Morgan Stanley have maintained their Outperform and Overweight ratings on Estee Lauder respectively, while Citigroup and Piper Sandler have downgraded their actions to Neutral.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 2:18 pm

DDOG

Datadog, Inc. (NASDAQ:DDOG) has announced the launch of Bits, a new AI-based assistant that helps engineers resolve application issues in real time. The AI assistant learns from customers' observability data and provides recommendations and automated remediation steps. The tool is designed to increase efficiency and reduce the time taken to resolve complex performance issues.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 2:17 pm