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ALE

JPM

Allete, Inc. (NYSE:ALE) is considering a sale after a 2% year-over-year decline in Q3 sales. The company is working with JP Morgan Chase & Co. (NYSE:JPM) on the sale process, attracting infrastructure funds and buyout firms. No deal is confirmed yet. Allete serves customers in Minnesota and Wisconsin and had a long-term debt of $1.686 billion at the end of Q3. ALE shares rose 8.02% to $60.76 on Tuesday.

Portfolio Pulse from Nabaparna Bhattacharya

December 06, 2023 | 12:59 pm

CME

LVS

TXRH

WMT

Insiders at Texas Roadhouse, CME Group, Walmart, and Las Vegas Sands have recently sold shares. Texas Roadhouse CEO sold shares after a weak earnings report, while CME Group's insider sold following strong earnings. Walmart's insider sale came after a report of sales growth, and Las Vegas Sands' principal stockholder sold a significant stake following a stock offering announcement.

Portfolio Pulse from Lisa Levin

December 06, 2023 | 12:57 pm

GIII

G-III Apparel Group (NASDAQ:GIII) reported Q3 FY24 earnings with a slight sales decline but exceeded EPS expectations. The company adjusted its FY24 EPS forecast upwards, while net sales estimates were lowered to align with expectations. Despite the upbeat earnings, G-III shares dropped 1.3%. Analysts from Keybanc, Telsey Advisory Group, and Barclays raised their price targets on G-III Apparel following the earnings announcement.

Portfolio Pulse from Lisa Levin

December 06, 2023 | 12:55 pm

AMD

INTC

Intel Corporation (NASDAQ:INTC) has accused AMD Inc. (NASDAQ:AMD) of misleading consumers with the naming of its Ryzen 7000 series mobile processors, suggesting they are based on the older Zen 2 architecture rather than the latest Zen 4. Intel's presentation, which has been removed, likened AMD's marketing to 'snake oil' tactics. This public accusation marks an escalation in the rivalry between the two semiconductor companies.

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 12:53 pm

WFC

Wells Fargo & Co (NYSE:WFC) CEO Charlie Scharf announced expected severance costs of $750M-$1B in Q4 due to increased focus on efficiency and potential layoffs. Despite economic downturn concerns, Scharf remains optimistic about the economy's strength, credit card growth, and consumer resilience. WFC faced potential credit losses on office real estate of $359M in Q3 and recently laid off fewer than 50 bankers. Additionally, WFC is facing a class-action lawsuit over unpaid overtime. WFC shares saw a slight increase in premarket trading.

Portfolio Pulse from Lekha Gupta

December 06, 2023 | 12:50 pm

BLDR

BOX

GIII

GVP

MDB

MSTR

PHR

PLUG

Wall Street analysts have updated their price targets and ratings for several companies. SentinelOne's target was raised by JMP Securities, suggesting a potential rally. Phreesia's target was cut by Needham. MongoDB and Boeing saw target increases from Barclays. HC Wainwright & Co. significantly raised GSE Systems' target. Builders FirstSource's target was increased by B. Riley Securities, which also upgraded the stock. MicroStrategy's target was raised by Canaccord Genuity. Keybanc reduced Box's target but maintained an Overweight rating. Telsey Advisory Group raised G-III Apparel's target. Morgan Stanley slashed Plug Power's target and downgraded the stock.

Portfolio Pulse from Lisa Levin

December 06, 2023 | 12:49 pm

CENN

Cenntro Electric has announced a reverse stock split effective December 8, 2023, to regain compliance with Nasdaq listing requirements. The reverse split is aimed at increasing the market price of Cenntro's common stock to meet the minimum bid price requirement set by Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:43 pm

OLLI

Ollie's Bargain Outlet reported a 7.0% increase in comparable store sales for the third quarter. This performance indicates a positive trend in the company's sales growth, which could be a sign of strong consumer demand and effective business strategies.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:40 pm

SentinelOne's stock is up following the release of their Q3 financial results, which exceeded expectations. The company also provided future guidance that surpassed consensus estimates.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:38 pm

ACRHF

AYRWF

CRLBF

CURA

IIPR

NLCP

REFI

TCNNF

Zuanic & Associates initiated coverage of New Lake Capital Partners (NLCP) with an Overweight rating, citing its significant growth in net real estate assets from $124 million in 2020 to $375 million in Q3 2023. NLCP, a sale-leaseback stock in the cannabis sector, faces a stagnant AFFO per share but has bought back over $9 million in stock. It offers a 12% dividend yield and trades at a 30% discount to NAV, compared to peers like IIPR, which trades at a 22% premium. NLCP's portfolio includes stakes in Curaleaf, Cresco, Trulieve, and others. The company has low leverage and is well-positioned for growth, with expected federal reforms potentially benefiting the sector.

Portfolio Pulse from Nicolás Jose Rodriguez

December 06, 2023 | 12:37 pm