Streetbeat News

Equity Actions

BRK

Warren Buffett, at Berkshire Hathaway's annual shareholder meeting, stated the company is unsure how to effectively use its $189 billion cash reserve due to unattractive investment options, despite the high interest rate environment. He emphasized a choosy investment strategy, highlighting past successful investments in Japan but noted the current market's lofty valuations limit opportunities. Buffett also humorously cautioned against informing the Federal Reserve about their cash strategy.

Portfolio Pulse from Shanthi Rexaline

May 08, 2024 | 6:42 am

BUD

Anheuser-Busch InBev (BUD) projects its EBITDA growth for 2024 to align with its medium-term forecast of 4%-8%, anticipating capital expenditures of $4B-$4.5B. The company's outlook accounts for current inflation and macroeconomic conditions, with net finance costs expected to range between $220M-$250M per quarter. The average gross debt coupon is projected at about 4%, and the effective tax rate is forecasted to be 27%-29%.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 5:53 am

MAX

MediaAlpha's stock price is trading lower following the announcement of a 6 million share secondary offering by its selling stockholders.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 10:02 pm

MQ

Marqeta's stock is trading higher following the announcement of better-than-expected Q1 sales results and the authorization of a new $200 million share repurchase program for its Class A common stock.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:58 pm

DLR

Digital Realty Trust's stock is trading lower following the announcement of a public offering of 10.5 million shares of common stock.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:54 pm

CPNG

LLY

MSFT

NVDA

STX

TECK

Legendary hedge fund manager Stanley Druckenmiller, known for his impressive track record of 30% annual returns, shared insights into his investment strategy in a CNBC interview. His fund, Duquesne Family Office, holds significant positions in Microsoft (MSFT), Coupang (CPNG), NVIDIA (NVDA), Eli Lilly (LLY), Teck Resources (TECK), and Seagate Technology (STX), with Microsoft being the largest equity investment. Druckenmiller also revealed exiting some NVIDIA positions after a substantial price increase.

Portfolio Pulse from Natan Ponieman

May 07, 2024 | 9:53 pm

PVBC

Provident Bancorp, Inc. (NASDAQ:PVBC), the holding company for BankProv, announced Kenneth Fisher as the new Executive Vice President and CFO. Fisher, a CPA with over two decades of experience in finance and executive leadership, previously served as CFO at Bluejay Diagnostics, Inc. and held significant roles at Meridian Bancorp, Inc. His appointment is part of BankProv's strategic initiatives to support its growth and innovation in the commercial banking sector.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:30 pm

EA

During a conference call, EA's CFO announced that by FY 2027, the company expects its non-GAAP operating margin to expand by 150 to 200 basis points.

Portfolio Pulse from Charles Gross

May 07, 2024 | 9:28 pm

NVEI

Nuvei has announced the suspension of its earnings conference calls and financial outlook due to a proposed take-private transaction with Advent. The company has also withdrawn its FY24 financial outlook and medium and long-term targets.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:26 pm

DLR

Digital Realty (NYSE:DLR), a leading provider of data center solutions, has initiated a public offering of 10.5 million shares of common stock, with an option for underwriters to purchase an additional 1.575 million shares. BofA Securities, Citigroup Global Markets Inc., and J.P. Morgan Securities LLC are the joint book-running managers for the offering.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:19 pm