Streetbeat News

Equity Actions

AVGO

KKR

NVDA

Broadcom Inc (NASDAQ:AVGO) has halted the sale of its security software division, Carbon Black, after offers did not meet expectations. Despite a potential reattempt, Broadcom remains silent. This follows Broadcom's $61 billion acquisition of VMware Inc, including Carbon Black. Meanwhile, KKR & Co Inc (NYSE:KKR) agreed to buy Broadcom's end-user computer unit for about $4 billion. Nvidia Corp (NASDAQ:NVDA) is entering the custom AI chip market, challenging Broadcom's position. Broadcom CEO Hock Tan's pay surged to $161.8 million, mainly from stock awards. Broadcom stock is up 21% YTD, while Nvidia has gained over 64%.

Portfolio Pulse from Anusuya Lahiri

February 27, 2024 | 2:11 pm

EBAY

eBay Inc. is set to release its fiscal fourth quarter earnings after the market closes on Feb. 27, 2024, with analysts expecting a slight decrease in earnings per share from $1.07 to $1.03, and revenue projected to remain stable at $2.51 billion. The company recently appointed Zane Rowe to its Board of Directors. Ahead of the earnings call, analysts have revised their forecasts and price targets for eBay, with adjustments reflecting a cautious but generally stable outlook on the company's financial performance.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 2:10 pm

AGBA

AGBA Group Holding Limited, a leading financial supermarket in Hong Kong, is poised for growth in 2024, leveraging Hong Kong's recovering macro environment. The company has refined its business model, implemented cost-cutting measures, and secured funds through equity private placement. Despite a significant share price decline since its Nasdaq listing in 2022, AGBA sees a disconnect between its share price and business value, indicating potential upside for shareholders. Strategic partnerships and expansion plans, including to Singapore, are expected to bolster AGBA's market position.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 2:09 pm

VIRT

Virtu Financial, Inc. (NASDAQ:VIRT) has announced a strategic collaboration with ClearingBid, Inc. to expand access to IPO investing through ClearingBid's platform. This partnership leverages Virtu's ITG Net connectivity platform, enabling brokers and financial institutions to place orders for IPO shares. The collaboration aims to enhance the IPO process, making it more accessible and transparent for investors and their brokers by integrating ClearingBid's IPO network with Virtu's global FIX connectivity solutions.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 2:03 pm

NRXP

NRx Pharmaceuticals, Inc. (NRXP) announced a $1.5M underwritten public offering of common stock at $0.30/share, with an additional investor commitment of $1M. The offering, managed by EF Hutton LLC, aims to raise funds for working capital, general corporate purposes, and servicing current debt obligations. The company highlighted the offering's accretive nature to shareholder value and its strategy to avoid dilutive transactions common in the biotech sector. Proceeds will also support the launch of HOPE Therapeutics, with first revenue expected by the end of Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:57 pm

GIFI

Gulf Island Fabrication, Inc. (GIFI) has successfully sold excess property, resulting in net cash proceeds of approximately $8.5 million.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:46 pm

AMH

American Homes 4 Rent's stock is trading higher following the announcement that it will be included in the S&P MidCap 400 index. This inclusion is a significant milestone for the company, reflecting its growth and stability, and is likely to attract more investors to its stock.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:39 pm

NRXP

NRX Pharmaceuticals announced a proposed underwritten public offering of common stock, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:32 pm

FIVN

Five9 announced a proposed $600 million convertible notes offering, leading to its shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:30 pm

ZM

Zoom's shares surged following the announcement of its Q4 financial results, which exceeded expectations. The company also provided optimistic Q1 and FY25 adjusted EPS guidance and announced a $1.5 billion stock repurchase program.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:29 pm