Streetbeat News

Equity Actions

ICHR

Ichor Holdings has announced that Greg Swyt will succeed Larry Sparks as CFO, effective August 30.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 8:06 pm

PSMT

PriceSmart, Inc.'s Board of Directors has authorized a stock repurchase program of up to $75 million. The timing and total amount of stock repurchases will depend on various factors. The program has no time limit and may be suspended or discontinued at any time.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 8:05 pm

SAP

SAP Inc.'s share price has increased by 1.15% in the current market session, reaching $134.79. Despite a 0.37% fall over the past month, the stock has risen by 56.12% over the past year. SAP's P/E ratio of 86.46 is lower than the Software industry average of 301.56, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 7:31 pm

EWD

SPY

TUR

Turkey has agreed to advance Sweden's bid to join NATO, according to a Turkish official. This development could potentially impact the geopolitical landscape and influence the performance of certain ETFs.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 7:29 pm

ONDS

Ondas Holdings announced that its subsidiary, Ondas Networks, has entered into an investment agreement with a private investor group led by Charles & Potomac Capital. The investment is expected to be at least $15 million.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 7:26 pm

AAPL

AMZN

GOOGL

META

MSFT

NVDA

The technology sector has seen its most robust half-year performance in over 20 years, with a 38% appreciation year-to-date, outperforming the broader market by 2350 basis points on a cap-weighted basis. This outperformance has been driven by multiple expansions, with over 100% of the returns coming from increased valuations rather than earnings growth. The six largest tech companies (Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms) have accounted for 100% of tech's relative return. Despite negative earnings per share (EPS) revisions for most of these companies, their stocks have performed strongly.

Portfolio Pulse from Anusuya Lahiri

July 10, 2023 | 7:19 pm

AAPL

MASI

Wells Fargo initiated coverage on Masimo Corporation (MASI) with an Equal Weight rating and a price target of $173. The analyst is optimistic about the Healthcare business and sees potential upside from new Consumer Health products in 2024 and beyond. However, concerns about the proxy overhang and litigation risk from Apple Inc (AAPL) are keeping them on the sidelines. Politan Capital Management, which owns a 9% stake in Masimo, has signaled interest in joining the board, a move that could result in MASI separating the Sound United business.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 7:15 pm

BECN

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has released its Q2 preliminary results, expecting net sales of around $2.5 billion and gross margins of about 25.4%. The company plans to buy back 400,000 outstanding shares of Series A Preferred stock from CD&R for $804.5 million, which is expected to raise leverage to 2.9x. The repurchase will reduce the diluted share count by 9.69 million shares and discontinue preferred dividends of $24 million per year. BECN shares are trading higher by 1.66% to $83.95.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 7:02 pm

AAN

FMC

JUPW

MOB

NSTG

TIVC

US stocks traded higher with the Nasdaq Composite slightly up. Mobilicom Limited (NASDAQ:MOB) shares rose 85% after receiving a commercial scale purchase order from Teledyne-FLIR for drone production for the US Department of Defense. Jupiter Wellness, Inc. (NASDAQ:JUPW) shares rose 42% after announcing an Asset Purchase Agreement with GBB Drink Lab. NanoString Technologies, Inc. (NASDAQ:NSTG) shares rose 37% after the company raised its Q2 revenue guidance. Tivic Health Systems, Inc. (NASDAQ:TIVC) shares dropped 37% after pricing a public offering of 32.5 million shares. The Aaron's Company, Inc. (NYSE:AAN) shares fell 11% after Loop Capital downgraded the stock. FMC Corporation (NYSE:FMC) shares fell 11% after the company cut its Q2 and 2023 guidance.

Portfolio Pulse from Lisa Levin

July 10, 2023 | 6:43 pm

PLTR

A significant bullish stance has been taken on Palantir Technologies (NYSE:PLTR) with 33 uncommon options trades spotted. The sentiment of these big-money traders is split between 51% bullish and 48% bearish. Whales have been targeting a price range from $10.0 to $30.0 for Palantir Technologies over the last 3 months. The price of PLTR is up 5.48% at $16.18. B of A Securities maintains their Buy rating on Palantir Technologies with a price target of $18. Raymond James downgraded its action to Outperform with a price target of $18.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 6:31 pm