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NIO

Nio Inc. (NYSE:NIO) has acquired production facilities from JAC for 3.16 billion yuan, allowing it to independently manufacture electric vehicles (EVs). Nio's Q3 earnings report showed positive trends in revenue, vehicle deliveries, gross margin, and vehicle margin. The company's financial position appears strong, with significant cash reserves. Nio's shares rose after the earnings release, despite a year-to-date decline. Mizuho Securities maintains a Buy rating on NIO but lowered its price target from $18 to $15. Nio may also spin off its battery production unit, seeking external investors.

Portfolio Pulse from The Bamboo Works

December 13, 2023 | 3:13 pm

ARGT

The Argentine peso has plummeted by 54% due to President Javier Milei's economic reforms, which include a drastic devaluation to tackle hyperinflation and a solvency crisis. The official exchange rate soared to 800 pesos per dollar, while the parallel market rate on Binance for the peso and Tether (USDT) is around 1,125 pesos per USD. Finance Minister Luis Caputo announced a series of austerity measures to reduce government spending and increase taxes. Argentine stocks, tracked by the Global X MSCI Argentine ETF (ARGT), dipped slightly in premarket trading but have risen nearly 20% since Milei's election. The IMF has expressed support for these reforms, which align with its recommendations.

Portfolio Pulse from Piero Cingari

December 13, 2023 | 3:11 pm

CSCO

Cisco Systems, Inc. (CSCO) has won a legal case as a federal judge dismissed patent infringement claims by Centripetal Networks. The initial $2.75 billion award against Cisco in 2020 was reversed due to an ethics issue involving the judge's wife owning Cisco stock. The case was reassigned, and the new judge ruled that Cisco did not infringe upon Centripetal's patents. CSCO shares dipped slightly by 0.33% to $49.17.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 3:10 pm

T

Wells Fargo analyst Eric Luebchow has maintained an Overweight rating on AT&T (NYSE:T) and increased the price target from $17 to $20.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:09 pm

TFSL

TFS Financial (NASDAQ:TFSL) is distributing a dividend of $0.28 per share with an annualized yield of 8.51%. The company has increased its dividend per share from $1.04 in 2019 to $1.13 in 2022, showing a commitment to shareholder value. However, earnings per share have decreased from $0.28 in 2019 to $0.27 in 2022, raising concerns about the sustainability of future dividends.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:05 pm

NOC

RTX

Northrop Grumman (NYSE:NOC) is distributing a dividend of $1.87 per share with an annualized yield of 1.60%. The company has shown a positive trend in dividend per share growth from $5.16 in 2019 to $6.76 in 2022, and earnings per share growth from $20.54 to $24.05 over the same period. This indicates a strong financial position and commitment to shareholder value. NOC's dividend yield is mid-range compared to peers, with RTX (NYSE:RTX) having the highest yield at 2.91%.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:05 pm

ARIS

TTEK

Tetra Tech (NASDAQ:TTEK) is set to distribute a dividend of $0.26 per share on December 13, 2023, with an annualized yield of 0.65%. Shareholders as of November 29, 2023, will be eligible. The company has shown a consistent increase in dividends per share from $0.57 in 2019 to $0.89 in 2022, and earnings per share have grown from $3.17 to $4.51 over the same period. However, Tetra Tech's dividend yield is lower than its industry peer Aris Water Solutions (NYSE:ARIS), which has a yield of 4.94%.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:05 pm

WCN

Wells Fargo analyst John Mazzoni has maintained an Overweight rating on Waste Connections (NYSE:WCN) and increased the price target from $160 to $170.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:03 pm

AXP

American Express Inc. (NYSE:AXP) stock is currently at $170.31, down 0.43% in the current session, but up 6.82% over the past month and 13.37% over the past year. The company's P/E ratio of 16.03 is lower than the Consumer Finance industry average of 45.68, suggesting it might be undervalued or may have weaker growth prospects compared to its peers.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:01 pm

HBARUSD

Hedera's cryptocurrency (HBAR) has seen a 5.41% increase in price over the last 24 hours, reaching $0.08, and a 16% increase over the past week from $0.07. Despite a 1% decrease in trading volume over the week, the circulating supply has grown by 0.13% to 33.58 billion, which is 67.15% of the maximum supply. Hedera's current market cap is $2.62 billion, ranking it 32nd in the market.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:00 pm