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ROLL

RBC Bearings' stock has seen an uptick following an upgrade from B of A Securities, which changed its rating from Underperform to Buy and increased the price target from $230 to $280.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 4:40 pm

GM

General Motors Co (GM) has reinstated its 2023 guidance and announced a $10 billion accelerated share repurchase program, with immediate retirement of $6.8 billion worth of stock. CEO Mary Barra expressed confidence in overcoming past challenges, including labor strikes and execution issues with Ultium and Cruise. The company expects adjusted earnings of $7.20 to $7.70 per share and adjusted automotive free cash flow of $10.5 to $11.5 billion. GM also plans to increase its dividend by 33%. GM shares rose 8.8% following the news.

Portfolio Pulse from Adam Eckert

November 29, 2023 | 4:34 pm

FTCH

Farfetch Ltd (NASDAQ:FTCH) stock plummeted by 47% to $1.11 after the company announced it will not release its third-quarter 2023 financial results as scheduled and has canceled the associated conference call. The company also advised against relying on any previously provided estimates and stated it will provide a market update in the future. The stock has a 52-week high of $54.60 and a 52-week low of $27.85.

Portfolio Pulse from Henry Khederian

November 29, 2023 | 4:34 pm

VSTS

Vestis shares have risen following the announcement of improved year-over-year Q4 revenue results and the issuance of positive revenue growth guidance for FY24.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 4:31 pm

GD

General Dynamics Inc. (NYSE:GD) has seen a slight decrease in its share price in the current market session, with a 0.37% drop to $244.31. Despite a minor increase over the past month, the stock has decreased by 3.16% over the past year. Investors are examining the company's P/E ratio, which is lower than the Aerospace & Defense industry average, suggesting that the stock might be undervalued or that shareholders have low growth expectations. The P/E ratio is a critical metric but should be used alongside other financial analyses for investment decisions.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 4:30 pm

HPE

Hewlett Packard Enterprise (HPE) stock is trading higher following the announcement of a Q4 earnings per share (EPS) beat and an increase in its dividend.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 4:27 pm

GME

GameStop Corp (NYSE:GME) shares surged 11.9% to $15.09 without specific company news. The rise may be attributed to strong Cyber Monday sales, retail investor interest, and anticipation of the upcoming Q3 earnings report on December 6th. Since late September, GME stock has fallen about 10% after Ryan Cohen's appointment as President and CEO. The SEC now requires hedge funds to report short positions, a change prompted by the 2021 GameStop stock frenzy.

Portfolio Pulse from Henry Khederian

November 29, 2023 | 4:24 pm

BTCUSD

Former BitMEX CEO Arthur Hayes predicts a surge in the cryptocurrency market due to China's potential monetary policy changes. He suggests that the U.S. and China's improved relations will lead to an increase in yuan credit, particularly in China's property sector. This influx of credit could strengthen the yuan, weaken the dollar, and result in more Chinese investment in cryptocurrencies like Bitcoin as a means to move money to Hong Kong. Hayes plans to shift his investments from T-bills to crypto in anticipation of these developments.

Portfolio Pulse from Khyathi Dalal

November 29, 2023 | 4:23 pm

EQIX

Equinix (NYSE:EQIX) has experienced a 14.9% increase in short interest since its last report, with 1.72 million shares sold short, representing 2.39% of its float. It would take about 4.78 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. Equinix has less short interest compared to its peer group average of 4.10%.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 4:15 pm

PYPL

PayPal Holdings (NYSE:PYPL) has seen an 8.98% increase in short interest since its last report, with 19.62 million shares sold short, representing 1.82% of available shares. The short interest now takes approximately 1.11 days to cover. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. PayPal's short interest is below its peer group average of 6.03%.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 4:15 pm