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UTZ

Utz Brands, Inc. (UTZ) has announced the sale of two manufacturing facilities to Our Home for $18.5 million, aiming to reduce long-term debt and add cash to its balance sheet. This move is part of Utz's supply chain transformation strategy, reducing its manufacturing facilities from 16 to 8 since 2021. The transactions are expected to close on April 22, 2024, and are anticipated to be accretive to Utz's Adjusted EPS in 2024. Additionally, Utz has completed a repricing of its $630 million Term Loan, reducing the interest rate and expecting to save $2 million annually in cash interest expense.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:14 pm

MTEN

Mingteng International Corporation has announced the pricing of its initial public offering (IPO) at $5.1 million, offering 1.275 million shares at $4.00 each. The shares have been approved for listing on the Nasdaq Capital Market and are expected to start trading on April 18, 2024, under the ticker symbol 'MTEN'.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:10 pm

RIOT

Riot Platforms, Inc. (NASDAQ:RIOT) has energized its Corsicana Facility's substation in Navarro County, Texas, marking a significant step towards becoming the world's largest Bitcoin mining facility. The facility, with a future total capacity of 1 GW, has initiated operations with a 400-megawatt substation. This development is part of Riot's plan to increase its self-mining hash rate capacity to 31 EH/s by the end of 2024. The first phase of this expansion, involving the initial 400 MW, will contribute 16 EH/s to Riot's capacity, with the first batch of miners already operational.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:08 pm

STWD

Starwood Prop Trust (NYSE:STWD) has seen an 8.01% increase in short interest since its last report, with 15.55 million shares sold short, representing 5.26% of its float. The current short interest suggests a bearish market sentiment, although it's lower than the peer group average of 6.70%. The article highlights the importance of short interest as a market sentiment indicator and suggests that an increase in short interest does not necessarily predict a stock price decline.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 1:00 pm

TELL

Tellurian Inc. (NYSE:TELL) has seen a 15.7% increase in short interest since its last report, with 148.90 million shares sold short, representing 19.75% of its float. This is significantly higher than its peer group average of 3.15%. The rise in short interest suggests a bearish market sentiment, but it's important to note that high short interest can sometimes be bullish for a stock.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 1:00 pm

ESEA

Euroseas Ltd. has entered into a Memorandum of Agreement to sell its container vessel, M/V EM Astoria, for approximately $10 million. This strategic move is part of the company's fleet optimization strategy.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:49 pm

ASML

META

NVDA

SOXL

SOXS

TSM

XLK

On April 17, U.S. stock indexes experienced fluctuations amid concerns over rising interest rates and corporate earnings reports. The S&P 500, Dow Jones, and Nasdaq saw varied losses, with tech stocks, particularly Nvidia and Meta Platforms, leading declines. Nvidia-focused ETFs and semiconductor stocks were in the spotlight, with significant movements in both bullish and bearish ETFs related to Nvidia and the semiconductor industry.

Portfolio Pulse from Surbhi Jain

April 18, 2024 | 12:45 pm

GBTC

IBIT

Bitcoin and Ethereum have rebounded above $62,000 and $3,000 respectively, despite $165M in ETF outflows and hawkish comments from Federal Reserve Chair Jerome Powell. Grayscale's Bitcoin Investment Trust (GBTC) saw a $133M outflow, while BlackRock's iShares Bitcoin Trust (IBIT) experienced a $18.09M inflow. Market analysts suggest potential for short-term consolidation and highlight alternative investment strategies amid the current market climate.

Portfolio Pulse from Murtuza Merchant

April 18, 2024 | 12:33 pm

KRRO

Korro has announced a $70M private placement led by Deep Track Capital, with participation from other leading healthcare investors. This financing boosts Korro's pro-forma cash to approximately $236 million. The funds are earmarked for the regulatory filing and First-in-Human (FIH) study of KRRO-110 in AATD patients, with key milestones anticipated in 2024 through 2026.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:32 pm

VEV

Vicinity Motor Corp. has secured a C$2M unsecured loan with a 12-month term and 12% interest rate from two independent parties. The company can prepay without penalty and will issue 800,000 bonus warrants at $1.15 per share, pending TSX Venture Exchange approval.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 11:54 am