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Equity Actions

CFLT

Confluent has announced that Rohan Sivaram will take over as CFO effective from August 16.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:22 pm

QCOM

Qualcomm plans to implement additional restructuring actions, primarily workforce reductions, and anticipates incurring significant restructuring charges, with a substantial portion expected in Q4. The company aims to substantially complete the actions in H1.

Portfolio Pulse from Charles Gross

August 04, 2023 | 12:22 pm

FRT

Federal Realty Investment Trust has increased its 2023 earnings per diluted share guidance to $2.64-$2.76 and its 2023 FFO per diluted share guidance to $6.46-$6.58. This is in line with the estimated EPS of $2.64.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:20 pm

CHRD

Chord Energy has increased its fiscal year 2023 exploration and production (E&P) and other capital expenditure (CapEx) to a range of $850M-$880M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:19 pm

BKH

Black Hills Corporation has reaffirmed its FY23 earnings per share (EPS) guidance of $3.65-$3.85, which is in line with the estimated $3.76. The guidance is based on several assumptions including normal weather conditions, normal operations for planned projects, constructive regulatory outcomes, no significant unplanned outages, production tax credits of $20 million, capital investment of $615 million, equity issuance of $140-$160 million, interest expense of $180-$185 million, and total operating expense of $600-$610 million. The company will announce its 2024 earnings guidance during its year-end 2023 earnings call.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:18 pm

HI

Hillenbrand has updated its fiscal year 2023 guidance, narrowing its annual EPS to $3.40-$3.50 from $3.30-$3.50. The company has lowered its revenue estimates due to ongoing customer order delays in China and for large plastics projects. However, the midpoint of its full year adjusted EPS range has been raised due to lower interest expense and a more favorable expected tax rate of 29%.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:17 pm

IR

Ingersoll Rand has raised its FY23 EPS guidance to $2.70-$2.80, up from the estimated $2.72. The company also increased its organic revenue growth range expectation by 200bps to 8%-10%, and total revenue growth to a range of 12%-14%. Adjusted EBITDA guidance has been raised to a range of $1,690 to $1,740 million, up 18% to 21% over the prior year.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:14 pm

VLO

A significant investor has taken a bullish stance on Valero Energy (NYSE:VLO), with 60% of recent trades being bullish and 40% bearish. The total amount for the 3 put trades was $83,901, while the 7 call trades amounted to $7,994,970. The price target for Valero Energy over the last 3 months has been between $70.0 and $145.0. The company's stock price is currently down by 1.91% at $126.31. Analysts have mixed opinions, with Tudor Pickering and JP Morgan maintaining a bullish stance, while Morgan Stanley has downgraded its rating.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 12:12 pm

CSCO

A significant investor has taken a bearish stance on Cisco Systems (NASDAQ:CSCO), with 60% of recent trades being bearish and 40% bullish. The price target for Cisco Systems over the last 3 months has been between $52.5 and $57.5. Exane BNP Paribas and B of A Securities have downgraded their ratings to Underperform and Neutral respectively, while JP Morgan has upgraded its rating to Overweight.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 12:09 pm

NCR

NCR Corp has affirmed its full year 2023 guidance, with expectations leaning towards the higher end of the previously guided ranges due to a strong first half. The company forecasts revenue of $7.8 billion to $8.0 billion, adjusted EBITDA of $1.45 billion to $1.55 billion, and non-GAAP diluted EPS of $3.30 to $3.50.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:08 pm