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Equity Actions

IGIC

International General Insurance Holdings Ltd. (IGI) announced preliminary Q4 EPS of $0.65, up from $0.28 YoY, with a net income increase to $33.0 million from $22.5 million. The company anticipates a net income of $118.2 million for 2023, a gross written premiums increase to $688.7 million, and a book value per share of $12.40, marking significant growth over 2022. These results are reported in accordance with U.S. GAAP, a change from IFRS.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:46 pm

KNW

Know Labs, Inc. (NYSE:KNW) has secured a funding agreement with Lind Global Fund II LP for up to $12 million to accelerate its non-invasive medical diagnostic technology development. The initial $4 million funding is through convertible secured notes, with provisions for conversion into shares at a premium and issuance of a warrant for purchasing additional shares. This investment aims to support Know Labs' efforts in hardware development, clinical research, algorithm development, and intellectual property expansion, particularly for its wearable continuous glucose monitor pending FDA clearance.

Portfolio Pulse from Happy Mohamed

February 29, 2024 | 9:42 pm

FEI

FEN

FIF

FPL

First Trust Advisors L.P. announced shareholder approvals for the mergers of First Trust Energy Income and Growth Fund (FEN), First Trust MLP and Energy Income Fund (FEI), First Trust New Opportunities MLP & Energy Fund (FPL), and First Trust Energy Infrastructure Fund (FIF) into the newly formed FT Energy Income Partners Enhanced Income ETF (EIPI). The mergers aim to reduce NAV discounts, offer favorable tax attributes, potentially increase distributions, and lower expense ratios. The mergers, expected to close by end of April 2024, are seen as tax-free reorganizations. NAV adjustments for FEN, FEI, and FPL were also announced.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:39 pm

ZYXI

Zynex Company has announced an additional $20 million stock repurchase plan, indicating the company's confidence in its financial health and future prospects. This move is likely to positively impact investor sentiment and could lead to an increase in the stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:35 pm

KWR

The board of Quaker Houghton has approved a new share repurchase program, authorizing the repurchase of up to $150 million of its common stock. This move is part of the company's strategy to return value to its shareholders and potentially improve earnings per share by reducing the number of shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:32 pm

NYCB

New York Community Bancorp, Inc. (NYCB) announced Alessandro DiNello as the new President and CEO, succeeding Thomas R. Cangemi. Marshall Lux is appointed as Presiding Director of the Board, replacing Hanif "Wally" Dahya. DiNello, previously Executive Chairman, brings over four decades of experience from Flagstar Bank. Lux, joining the Board in 2022, has a diverse background in the financial services industry. The leadership changes aim to support NYCB's transformation into a larger, diversified commercial bank.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:31 pm

KDP

Keurig Dr Pepper (KDP) has announced that JAB, a long-term anchor shareholder, plans to sell up to 100 million shares of KDP's common stock. Concurrently, KDP will repurchase 35 million of these shares. Despite the sale, JAB intends to remain a long-term anchor shareholder in KDP.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:29 pm

HUMA

Humacyte shares are trading lower following the announcement of a proposed public offering of common stock. This move typically dilutes existing shareholders' equity, leading to a decrease in share price.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:26 pm

TSLX

Sixth Street Specialty Lending has announced a public offering of 4 million shares. This move is aimed at raising capital, potentially for further investments or operational purposes. The impact on the stock price and investor sentiment will depend on market perception of this expansion of capital.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:25 pm

COO

CooperCompanies has increased its FY24 total revenue forecast to $3.847B-$3.897B from the previous $3.809B-$3.877B, with an adjusted EPS forecast raised to $3.50-$3.58 from the prior $13.60-$14.00, reflecting adjustments from a four-for-one stock split effective February 16, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:22 pm