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ACI

ASAN

KR

SAN

Jim Cramer, on CNBC's 'Mad Money Lightning Round,' recommended buying Banco Santander (SAN) due to its strong performance in Brazil and Mexico. He expressed skepticism about the Kroger (KR) and Albertsons (ACI) merger, predicting government intervention to block it. Cramer also commented on Asana (ASAN), stating he wants to see profitability before endorsing the stock. SAN shares rose 1.2%, ASAN gained 3.9%, KR fell 0.5%, and ACI increased by 0.7% in Friday's trading session.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 1:50 pm

SWN

Citigroup analyst Paul Diamond has upgraded Southwestern Energy (NYSE:SWN) from Neutral to Buy and set a price target of $8.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:50 pm

CI

HUM

Cigna Group (NYSE:CI) shares rose after the company ceased acquisition talks with Humana Inc (NYSE:HUM) due to price disagreements. Cigna announced a $10 billion increase in share repurchase authorization, planning to buy back at least $5 billion in stock by mid-2024, including an accelerated repurchase in Q1 2024. Despite the failed deal, Cigna remains focused on smaller acquisitions and reaffirmed its 2023 and 2024 earnings outlook. CI shares jumped 13.6% to $293.89, while HUM shares increased 1.95% to $491.00 in premarket trading.

Portfolio Pulse from Vandana Singh

December 11, 2023 | 1:47 pm

CXM

Barclays analyst Raimo Lenschow has maintained an Overweight rating on Sprinklr (NYSE:CXM) but has reduced the price target from $18 to $15.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:47 pm

BLUE

Bluebird Bio Inc (NASDAQ:BLUE) stock is trading higher after presenting positive long-term data from its gene therapy program for beta-thalassemia at the ASH Annual Meeting. The data showed sustained treatment effects and improved quality of life for patients treated with ZYNTEGLO. This follows a recent drop in shares due to an FDA black box warning for another of its treatments, Lyfgenia.

Portfolio Pulse from Adam Eckert

December 11, 2023 | 1:47 pm

CTRA

Citigroup analyst Scott Gruber has upgraded Coterra Energy (NYSE:CTRA) from Neutral to Buy and increased the price target from $28 to $30.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:47 pm

SPOT

Rosenblatt analyst Barton Crockett has upgraded Spotify Technology (NYSE:SPOT) from Neutral to Buy and increased the price target from $150 to $300, indicating a positive outlook on the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:45 pm

O

SRC

Realty Income Corporation's acquisition of Spirit Realty Capital positions it as the fourth-largest REIT and in the top 200 companies of the S&P 500. The merger is expected to be accretive to AFFO and offers benefits like enhanced bargaining power, improved equity liquidity, and lower financing costs. However, challenges include potential difficulties in sustaining M&A growth and diversification risks. Realty Income's valuation is attractive post-acquisition, with analysts from RBC Capital and Wolfe Research upgrading the stock and raising price targets.

Portfolio Pulse from Surbhi Jain

December 11, 2023 | 1:44 pm

PLYA

Playa Hotels & Resorts N.V. (NASDAQ:PLYA) has announced a new $200 million share repurchase program, replacing the previous $200 million authorization from February 2023, with about $30 million remaining. The repurchases are subject to market and business conditions and may be made in the open market, privately negotiated transactions, or other means, including Rule 10b5-1 trading plans, and may be started or suspended at any time without notice.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:42 pm

OXY

Occidental Petroleum Corp (NYSE:OXY) is acquiring CrownRock L.P. for $12 billion, including debt assumption, to expand its presence in the Permian Basin. The deal adds 94,000 net acres and is expected to increase production by 170 Mboed in 2024. Occidental plans to finance the acquisition with $9.1 billion in new debt, $1.7 billion in common equity, and assuming $1.2 billion of CrownRock's debt. The acquisition is anticipated to increase free cash flow per diluted share, with $1 billion expected in the first year at $70 per barrel WTI. The transaction should close in Q1 2024, and Occidental will also raise its quarterly dividend to $0.22 starting February 2024. OXY shares dropped 0.58% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 11, 2023 | 1:40 pm