Streetbeat News

Equity Actions

PRDO

Perdoceo Education has announced a new stock repurchase program starting March 1, 2024, to buy back up to $50M of its common stock, replacing the existing program expiring on September 30, 2024. The new program will expire on September 30, 2025.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:27 pm

RRC

Range Resources Corp. (RRC) has announced its 2024 all-in capital budget to be between $620M and $670M, aiming to maintain production levels at 2.12 – 2.16 Bcfe per day. The budget includes maintenance capital, drilling and completion capital, investments in targeted acreage, and water infrastructure. Operational efficiencies from 2023 will allow RRC to build in-process well inventory in 2024, similar to 2023, enhancing future operational and capital flexibility. The plan involves running two drilling rigs and one frac crew, with investments aimed at increasing lateral lengths and reducing future costs.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:20 pm

SYM

Symbotic's stock price is trading lower following the announcement of a primary and secondary offering of its Class A common stock. This move typically dilutes existing shareholders' value and can lead to a decrease in stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:08 pm

SYM

Symbotic Inc. (NASDAQ:SYM) has initiated an underwritten public offering of 10 million shares of its Class A common stock, split evenly between the company and certain trusts and entities controlled by Richard Cohen, its founder, chairman, and CEO. The offering includes a potential additional 1.5 million shares option for underwriters. Symbotic aims to use its proceeds for general corporate purposes, while the selling securityholders will receive all net proceeds from their share sales. Goldman Sachs & Co. LLC is the sole book-running manager.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:04 pm

ALIT

Activist hedge fund Starboard Value has nominated four candidates to the board of directors of Alight Inc, according to sources reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:47 pm

DC

GATO

NUE

PLL

Nucor Corporation plans to build a $860 million rebar micro mill in the Pacific Northwest, aiming to maintain leadership in the steel bar market. Gatos Silver reported increased silver production and financial growth in Q4 2023, despite a revenue fall. Dakota Gold Corp. announced promising drill assays at the Richmond Hill Gold Project, indicating potential for future resource expansion. Piedmont Lithium sold all shares of Sayona Mining, focusing on its joint venture and offtake agreement with Sayona Quebec to supply lithium resources for the U.S. electric vehicle supply chain.

Portfolio Pulse from Austin DeNoce

February 21, 2024 | 8:33 pm

ACON

Aclarion Inc has filed an amended prospectus with the SEC for an offering on a best efforts basis of up to 3.9 million units, with each unit comprising one share of common stock and one warrant to purchase an additional share.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:14 pm

FTEL

Fitell Corp has filed with the SEC for a firm commitment underwritten public offering of 8 million ordinary shares. This move indicates the company's intention to raise capital through the sale of these shares to the public.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 7:56 pm

VC

Visteon (NASDAQ:VC), an automotive supplier, has received mixed analyst ratings over the last three months, with a recent shift towards a somewhat bearish outlook. The average 12-month price target for VC is $142.67, marking a slight increase from the previous target. Despite a -1.17% decline in revenue growth and a market capitalization below industry benchmarks, Visteon showcases strong profitability with a net margin of 6.51%, an ROE of 9.24%, and an ROA of 2.82%. The company's debt-to-equity ratio is also below industry norms, indicating a sound financial structure.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 7:00 pm

INST

Instructure Holdings (NYSE:INST) has received mixed analyst ratings over the past quarter, with a recent consensus showing 3 bullish and 1 somewhat bullish ratings. The 12-month price target averages at $30.00, with a high of $32.00 and a low of $28.00. Analyst actions include adjustments to ratings and price targets by Keybanc, Citigroup, Needham, and Jefferies, reflecting dynamic market conditions and company performance. Instructure Holdings, an education technology company, has shown a revenue growth rate of 10.2% as of September 30, 2023, but faces challenges in ROE and net margin compared to industry averages.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 7:00 pm