Streetbeat News

Assets

CNP

CenterPoint Energy, Inc. (CNP) reported Q4 adjusted earnings per share of 32 cents, aligning with expectations and marking a 14% year-over-year increase. This growth was driven by regulatory recovery and a one-time tax benefit. Additionally, CNP announced the sale of its Louisiana and Mississippi natural gas operations to Bernhard Capital Partners for $1.2 billion, representing less than 4% of its rate base. The sale will fund a $1 billion boost to its capital plan, now totaling $44.5 billion through 2030. CNP reaffirmed its 2024 EPS guidance, indicating an 8% growth.

Portfolio Pulse from Nabaparna Bhattacharya

February 20, 2024 | 1:49 pm

MWG

Multi Ways Holdings Limited (NYSE:MWG), a leading supplier of heavy construction equipment in Singapore, announced its fleet expansion and renewal strategy, including a significant purchase agreement with SANY International Development Limited. This strategy aims to enhance its market position, service reliability, and cater to a wider customer base by integrating new and used equipment. The company's approach is driven by customer feedback and market analysis, focusing on reducing operational costs and adapting to changing needs. The construction demand forecast for 2024 in Singapore supports the timing of these investments.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:38 pm

DFS

MEDS

SPRC

TRxADE HEALTH announced the sale of assets of its subsidiary Trxade, Inc. to Micro Merchant Systems for $22.5M, potentially rising to $30M. SciSparc and Clearmind are enhancing their international patent portfolio with new psychedelic-based compounds. Capital One Financial is set to acquire Discover, affecting pre-market movements.

Portfolio Pulse from ryanfaloona@benzinga.com

February 20, 2024 | 1:36 pm

CISO

CISO Global has announced that an independent valuation has appraised its initial Intellectual Property (IP) Solutions Portfolio at over $50 million. This valuation highlights the significant value and potential of CISO's IP assets.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:33 pm

CFG

Citizens Financial Group (NYSE:CFG) has seen a 7.69% increase in short percent of float since its last report, with 20.16 million shares sold short, representing 5.74% of all shares available for trading. This increase in short interest, which now exceeds the peer group average of 3.41%, may indicate a more bearish market sentiment towards CFG, though it doesn't necessarily predict a near-term price fall.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 1:30 pm

ON

ON Semiconductor (NYSE:ON) has seen a 16.77% decrease in short interest, now at 19.43 million shares or 6.9% of float, taking 2.18 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards ON compared to its peers, where the average short interest is 3.25% of float.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 1:30 pm

ACTG

Acacia Research Corporation (NASDAQ:ACTG), through its majority-owned subsidiary Benchmark Energy II, LLC, has announced a significant acquisition of upstream assets in the Western Anadarko Basin, Texas and Oklahoma, from a private seller. This acquisition, expected to close in Q2 2024, will add over 470 operated producing wells across approximately 140,000 net acres, with anticipated annualized asset-level cash flows of around $45 million. The deal, valued at Acacia's share of approximately $57.5 million, aims to enhance Benchmark's portfolio with a focus on cash flow through acquiring cash-flowing oil and gas properties. The transaction is funded by cash from Acacia and McArron Partners, along with committed debt financing from regional banks.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:23 pm

BFRI

Biofrontera Inc. has announced a $16 million private placement, structured in two tranches of $8 million each, with the second tranche contingent on achieving certain milestones. This financing, in accordance with Nasdaq rules, is aimed at supporting the company's R&D activities and further commercial growth, facilitated by a recent restructuring of its supply agreement.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:14 pm

MEOH

Methanex Corporation announced a delay in the commercial production of its new Geismar 3 methanol plant in Louisiana due to complications in the autothermal reformer during start-up. Significant damage to refractory bricks requires replacement, potentially delaying production until the end of Q3 2024. The issue is attributed to the start-up process, not plant design or construction, and is not expected to significantly exceed the $1.30 billion capital cost guidance.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:06 pm

SSIC

Silver Spike Investment Corp. (SSIC) has entered into a definitive agreement to acquire a significant loan portfolio from Chicago Atlantic Loan Portfolio, LLC (CALP). The acquisition will be made in exchange for newly issued shares of SSIC's common stock, with the net asset value equal to the CALP Loan Portfolio's value. This move aligns with SSIC's newly announced broadened investment strategy.

Portfolio Pulse from Charles Gross

February 20, 2024 | 12:47 pm