Streetbeat News

Equity Actions

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

NET

Cloudflare (NYSE:NET) has seen a balanced mix of bullish and bearish options trading activity, with significant investors targeting a price range of $80.0 to $130.0 over the next three months. The trading volume and open interest for Cloudflare's options have been analyzed, revealing notable trades and sentiments. Cloudflare's current trading volume is 2,000,262, with a price decrease of -4.1%, and an RSI indicating a potential overbought situation. Professional analysts have set an average price target of $110.4 for Cloudflare, with varying ratings from Neutral to Buy.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 6:45 pm

AAPL

AMZN

INTC

MSFT

Amazon.com Inc (NASDAQ:AMZN) is set to join the Dow Jones Industrial Average on Feb. 26, causing its stock to trade higher. Historical examples like Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL), and Intel (NASDAQ:INTC) show that joining the DJIA might lead to initial stagnant stock performance before significant growth. However, Amazon's current technical setup suggests a favorable outlook, with indicators like the 50-day and 200-day SMAs supporting a 'Buy' signal. Investors are advised to be cautious due to the mixed historical performance of tech stocks upon Dow inclusion.

Portfolio Pulse from Surbhi Jain

February 21, 2024 | 6:31 pm

CFB

CrossFirst Bankshares (NASDAQ:CFB) has been analyzed by 5 analysts, showing a shift towards a more bullish stance over the past three months. The average 12-month price target has increased to $17.4, reflecting a 6.55% rise from the previous target of $16.33. Analysts from firms like Keefe, Bruyette & Woods and Stephens & Co. have raised their price targets, indicating a positive outlook on CFB's performance. The company's financial health is strong, with notable revenue growth, high net margin, and exceptional ROE and ROA, despite a smaller market capitalization compared to industry peers.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 6:00 pm