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Equity Actions

PTLO

Portillo's has priced a $116M offering of 8M Class A common stock in a 'synthetic secondary' transaction. The offering is non-dilutive, with proceeds used to purchase and cancel certain shares, meaning Portillo's will not receive any proceeds.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:15 am

ARQT

Arcutis has announced a public offering of 15,789,474 common shares priced at $9.50 per share, aiming to raise approximately $150 million. The offering is expected to close on March 4, 2024, subject to customary conditions.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:00 am

AAPL

AMZN

MSFT

NANC

NVDA

The Unusual Whales Democratic ETF (NANC) has outperformed the S&P 500 with a 30% surge since its launch in February 2023, thanks to significant investments in tech giants like Microsoft, Amazon, Apple, and Nvidia. This ETF tracks the stock trades of Democratic members of Congress and has gained attention amidst controversies over congressional stock trading. In contrast, the Republican-centric ETF (KRUZ) has seen a modest 15% gain.

Portfolio Pulse from Benzinga Neuro

February 29, 2024 | 7:25 am

BCS

CRH

CRH has initiated a share buyback program, contracting Barclays Capital Inc. to repurchase up to $300 million of its ordinary shares listed on the New York Stock Exchange. The buyback starts on February 29, 2024, and will conclude by May 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 7:22 am

TALO

Talos Energy projects its 2024 production to range between 87,000 and 93,000 barrels of oil equivalent per day, with over 70% being oil. This forecast includes contributions from QuarterNorth for only nine months. The company anticipates reducing its upstream capital expenditures to between $565 million and $595 million, down from its 2023 levels. Talos is also exploring strategic options for its Talos Low Carbon Solutions subsidiary and aims to significantly reduce its debt while investing in key upstream projects. With recent pricing, Talos targets a year-end 2024 leverage of 1.0x or less, planning to pay down approximately $400 million in debt through cash flow, not including any proceeds from TLCS.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 7:10 am

JANX

Janux Therapeutics, Inc. (NASDAQ:JANX) announced the pricing of an underwritten public offering of 4,440,851 shares of common stock at $46.50 per share and pre-funded warrants for 1,935,483 shares at $46.499 each, aiming to raise approximately $296.5 million. The offering includes an option for underwriters to purchase up to an additional 956,450 shares and is expected to close on March 4, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 7:06 am

STR

The board of Sitio Royalties has authorized a $200M share repurchase program, set to commence in early March. This move indicates the company's confidence in its financial health and a commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 6:38 am

AAPL

Apple Inc's shareholders voted against a proposal for an AI transparency report, which aimed to examine the ethical use of AI by the company. The proposal was rejected during Apple's annual meeting, alongside other measures concerning equal employment policies and human rights. The rejection follows Apple's strategic shift towards generative AI, abandoning its electric car project. Additionally, two long-serving directors stepped down, and CEO Tim Cook's pay structure saw a significant change, with a 36% reduction in annual compensation.

Portfolio Pulse from Benzinga Neuro

February 29, 2024 | 4:01 am

PARA

The article highlights the achievements of 12 trailblazing Black Wall Street bankers, brokers, and financiers who laid the groundwork for future generations. It mentions the first Black investment firm on the NYSE, Daniels & Bell, founded in 1971, and other pioneers like the first Black woman to pass the NYSE exam, Lilla St. John, and the first Black-owned mutual fund firm, Ariel Investments, founded by John W. Rogers Jr. It also touches on early Black millionaires and billionaires, including Robert L. Johnson, the first Black billionaire, and Oprah Winfrey, the first Black woman billionaire.

Portfolio Pulse from Sue Strachan

February 29, 2024 | 12:26 am

ALEX

Alexander & Baldwin (ALEX) projects its 2024 Adjusted Funds From Operations (FFO) per share to be in the range of $0.80-$0.90, which is below the estimated $1.15. The company also announced a shift in its reporting metric from Core FFO to Adjusted FFO starting in 2024.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 10:40 pm