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Equity Actions

EQT

EQT Corporation has updated its Q2 total sales volume forecast to 455-505 Bcfe and its 2024 total sales volume forecast to 2,100-2,200 Bcfe, factoring in 1 Bcf/d of operated production curtailments through May. The company also confirmed its 2024 capital expenditure plans, maintaining maintenance capital expenditures at $1,950-$2,050 million and strategic growth capital expenditures at $200-$300 million, focusing on water, midstream, and other infrastructure and land opportunities.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 8:34 pm

VLTO

Veralto has updated its financial outlook, projecting Q2 adjusted EPS to be between $0.75 and $0.80, compared to the estimated $0.80. Additionally, the company has raised its full-year 2024 adjusted EPS forecast to a range of $3.25 to $3.34, versus the consensus estimate of $3.29.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 8:33 pm

CNTA

CNTA announces a proposed public offering of American Depositary Shares valued at $100M, aiming to raise capital for its operations and potential expansions.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 8:18 pm

FSLY

Fastly's (NYSE:FSLY) short interest has increased by 14.11% since the last report, with 10.19 million shares sold short, representing 8.17% of its float. This indicates a bearish market sentiment, although it's higher than its peer group average of 6.33%. The article suggests that an increase in short interest doesn't necessarily predict a price drop and can be bullish.

Portfolio Pulse from Benzinga Insights

April 23, 2024 | 8:15 pm

SPR

Spirit Aerosystems announced that Boeing will make an advance payment of $425M to support Boeing's contractual demands, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 8:12 pm

General Motors (GM) reported $878M in cash outflows due to a voluntary separation program, which was nearly complete by March 31, 2024. Additionally, GM anticipates its subsidiary, Cruise, will need more liquidity for the development of autonomous vehicle (AV) technology through the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 7:38 pm

BABA

FXI

KWEB

MCHI

NIO

PDD

TCEHY

XPEV

UBS Group AG upgraded its recommendation on a key Chinese stock index to Overweight, citing a 'valuation collapse' and resilient earnings among the largest stocks. This upgrade has led to positive movements in Chinese equity tracking ETFs and stocks of Chinese companies. UBS also downgraded Taiwan and South Korea markets to Neutral due to high premiums in the tech sector. The optimism in Chinese stocks is supported by state interventions, positive surprises in dividends and buybacks, and a belief that the Chinese stock market has bottomed, presenting a rare investment opportunity.

Portfolio Pulse from Surbhi Jain

April 23, 2024 | 7:20 pm

BRK

BYDDY

TSLA

Warren Buffett, through Berkshire Hathaway, missed out on investing in Tesla before its IPO, a decision highlighted by Tesla CEO Elon Musk. Musk often references a 2009 meeting with Charlie Munger, Berkshire's Vice Chairman, where the potential failure of Tesla was discussed. Despite this, Tesla's market cap has soared to $463 billion, indicating a missed opportunity for a 231,400% return on a hypothetical $20 million investment based on Tesla's $200 million valuation at the time. Berkshire Hathaway instead invested in BYD Co, a Tesla rival, in 2008 and has seen significant returns from its investment in Apple in 2016.

Portfolio Pulse from Chris Katje

April 23, 2024 | 7:08 pm

INCY

MOR

Incyte Corporation (NASDAQ:INCY) has agreed to acquire Escient Pharmaceuticals for $750 million, aiming to enhance its portfolio with EP262 and EP547, targeting inflammatory diseases. Cantor Fitzgerald initiated coverage on Incyte with a Neutral rating, citing undervaluation due to its cash flow and concerns over its pipeline prospects. The analyst suggests a significant stock buyback and prioritizing R&D to improve valuation. William Blair remains optimistic, highlighting the potential of povorcitinib and the Escient deal's complement to Incyte's portfolio.

Portfolio Pulse from Vandana Singh

April 23, 2024 | 7:03 pm

VERX

Vertex Inc (NASDAQ:VERX) received mixed analyst ratings over the past three months, with a shift towards more positive evaluations in the last 30 days. The average 12-month price target for VERX has been raised to $38.3, reflecting a 20.52% increase from the previous target. Analysts from firms including Citigroup, JMP Securities, B of A Securities, Goldman Sachs, BMO Capital, Needham, and Jefferies have updated their ratings and price targets, indicating a varied outlook on the company's performance. Vertex's financial metrics such as revenue growth, net margin, ROE, ROA, and debt management are highlighted, showcasing its market position and operational efficiency.

Portfolio Pulse from Benzinga Insights

April 23, 2024 | 7:00 pm