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BUD

DEO

PARA

PARAA

TAP

Bud Light, owned by Anheuser-Busch InBev (BUD), is facing declining sales and market share, with rival beer brands gearing up to target its key demographics. The end of Anheuser-Busch's exclusive partnership with the NFL has opened the door for other brands like Molson Coors (TAP) and Diageo (DEO) to advertise during the Super Bowl. Coors Light, owned by Molson Coors, has announced plans to advertise in Super Bowl LVIII, which could further impact Bud Light's market position.

Portfolio Pulse from Chris Katje

September 20, 2023 | 3:48 pm

BACHY

BKEAY

BYDDY

CITAF

DNFGY

HACOF

HSBC

LNNGY

PCCYF

TCEHY

XIACY

YUMC

Hong Kong-listed and Chinese companies are increasing stock buybacks and dividend payouts as their domestic markets remain depressed. This trend is expected to continue throughout the year. In 2022, Hong Kong stock buybacks amounted to $13.4 billion. The Hang Seng Index forecasts that the buyback trend will continue to over $90 billion of stock buybacks by year-end. Record dividend payouts by China’s biggest firms, including Bank of China Ltd. and PetroChina Co Ltd., have reached $206 billion so far this year. Among the Hong Kong companies buying back their shares are Yum China, Tencent, HSBC Holdings Plc., Hanison Construction Holdings Ltd., Bank of East Asia Limited, Cosco Shipping Development Co Ltd, Li Ning Co. Ltd. and Dongfeng Motor Co. Ltd.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 3:45 pm

IKT

Inhibikase Therapeutics (NASDAQ:IKT) has issued a letter to shareholders addressing the recent steep decline in its stock price, which it says has no identifiable cause. The company continues to advance its work in Parkinson's Disease, Chronic Myelogenous Leukemia (CML) and Multiple System Atrophy (MSA). It recently presented safety and tolerability data for its drug risvodetinib at the Movement Disorder Society Congress. The company also highlighted the progress of its 201 Trial in untreated Parkinson's disease and the potential of risvodetinib in treating other Parkinson's-related diseases. The company's cash position is sufficient to fund operations into Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:45 pm

AMZN

Amazon.com Inc (NASDAQ:AMZN) plans to hire 250,000 additional employees for the holiday season, a significant increase from last year's 150,000. Morgan Stanley analyst Brian Nowak reiterated an Overweight rating for Amazon with a price target of $175. The company is also expected to unveil new AI features for Alexa and release new devices. Despite these developments, Amazon shares were trading lower.

Portfolio Pulse from Adam Eckert

September 20, 2023 | 3:40 pm

ZBRA

Zebra Technologies Corporation's shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $260 to $220.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:39 pm

ORCL

UBER

Uber Technologies has partnered with Staples to offer on-demand delivery of office supplies across the U.S. The service is available through nearly 1,000 Staples locations via the Uber Eats platform. This move is part of Uber's expansion into retail, which includes specialty groceries and pet products. Uber recently collaborated with Oracle Corporation on a service called Collect and Receive, aimed at enhancing last-mile delivery. Uber's shares are currently trading lower by 0.39% to $47.41.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2023 | 3:38 pm

QQQ

TQQQ

ProShares UltraPro QQQ (TQQQ) shares are trading flat ahead of the Federal Reserve's interest rate decision. The ETF corresponds to three times the daily performance of the NASDAQ-100 (QQQ) ETF. Changes in interest rates can significantly impact the valuation of tech and internet-related stocks that make up the NASDAQ-100 Index. The consensus view is that the Fed will likely maintain its current interest rates.

Portfolio Pulse from Henry Khederian

September 20, 2023 | 3:37 pm

PAYX

Paychex (NASDAQ:PAYX) has outperformed the market over the past 10 years by 1.01% on an annualized basis, producing an average annual return of 11.11%. If an investor had bought $1000 of PAYX stock 10 years ago, it would be worth $2,871.65 today.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 3:31 pm

TXT

Textron announced a 'record-breaking' fleet agreement for the option for NetJets to purchase up to 1,500 additional Cessna Citation business jets over the next 15 years. This has led to a rise in Textron shares.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:29 pm

GNS

Genius Group Limited (AMEX:GNS) announced a joint venture partnership with Groove Digital, Inc. and Groove AI to deliver AI tools to GeniusU partners and faculty. The joint venture, Genius Groove, Inc., will create a new AI-driven SAAS platform. Shares of GNS are trading higher with more than 7.46 million shares traded in the session, compared to the stock's 100-day average of 9.617 million shares. Genius Group shares are up 19% at $1.05 at the time of publication.

Portfolio Pulse from Erica Kollmann

September 20, 2023 | 3:26 pm