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O

SRC

Spirit Realty Capital, Inc (NYSE:SRC) is set to be acquired by Realty Income Corp (NYSE:O) in an all-stock transaction valued at $9.3 billion. The merger is expected to deliver over 2.5% accretion to Realty Income's annualized Adjusted Funds from Operations (AFFO) per share. The transaction is expected to close during the first quarter of 2024.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 11:55 am

MT

Arcelor Mittal's shares are trading lower following a fire incident in Kazakhstan that resulted in 42 fatalities.

Portfolio Pulse from Luke J Jacobi

October 30, 2023 | 11:53 am

MCD

McDonald's Corp reported Q3 FY23 sales growth of 14% YoY to $6.692 billion, beating the analyst consensus estimate. Global comparable sales rose 8.8%, with U.S. comparable sales up 8.1% due to strategic menu price increases. Operating income rose 16% to $3.208 billion, with an operating margin of 47.9%. Adjusted EPS of $3.19 beat the consensus estimate. The company also increased the quarterly cash dividend by 10% to $1.67 per share. MCD shares are trading higher by 3.10% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 11:53 am

ABBV

EWBC

OLN

Top Wall Street analysts have updated their outlooks on several stocks. Barclays increased AbbVie Inc.'s price target from $160 to $170 and upgraded the stock from Equal-Weight to Overweight. JP Morgan cut Olin Corporation's price target from $75 to $48 and downgraded the stock from Overweight to Neutral. UBS increased East West Bancorp, Inc.'s price target from $57 to $61 and upgraded the stock from Neutral to Buy. Other companies mentioned include Chevron Corporation, Eastman Chemical Company, NorthWestern Energy Group, Inc., Datadog, Inc., Balchem Corporation, CubeSmart, and Axos Financial, Inc.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 11:49 am

EAR

Trading of Eargo's shares has been temporarily halted, pending further news.

Portfolio Pulse from Charles Gross

October 30, 2023 | 11:43 am

RVTY

Revvity reported worse-than-expected Q3 results and lowered its FY23 guidance, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 11:41 am

MCD

McDonald's shares are trading higher after the company reported better-than-expected Q3 earnings.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 11:40 am

AVGO

VMW

Shares of VMware Inc (VMW) are rising after an update that Broadcom Inc's (AVGO) acquisition of VMware will close soon. The merger has received legal clearance in multiple jurisdictions, with no legal impediment under U.S. regulations. Each VMware stockholder will receive $142.50 in cash or 0.2520 of a share of Broadcom common stock for each share of VMware. Approval in China, the last major hurdle, is still pending.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 11:39 am

DCPH

Deciphera Pharmaceuticals' shares resumed trading and surged 35% after the company announced that it met primary and secondary endpoints in its TGCT trial.

Portfolio Pulse from Charles Gross

October 30, 2023 | 11:34 am

CTNT

DBGI

MGOL

SPGC

The article lists four consumer stocks that are currently oversold and could potentially rise this quarter. These include Sacks Parente Golf, Inc. (SPGC), Cheetah Net Supply Chain Service Inc. (CTNT), MGO Global, Inc. (MGOL), and Digital Brands Group, Inc. (DBGI). All four companies have a Relative Strength Index (RSI) below 30, indicating they are oversold. The companies have recently reported various business developments, including narrower losses, sales declines, new team members, and private placements.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 11:29 am