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Equity Actions

TIO

Tingo Group has announced its intention to voluntarily delist its common stock from the Nasdaq Stock Market by filing Form 25. This move will remove the company's shares from being publicly traded on the Nasdaq exchange.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 10:01 pm

CMC

FMST

NUE

ZKIN

Nucor Corporation announced a quarterly dividend of $0.54 per share. Commercial Metals Company added Dennis V. Arriola to its Board. ZK International completed a $2 million investment from CF Fund. Foremost Lithium joined Webull's CCS platform for better shareholder communication. Sayona Mining revealed a feasibility study for its Moblan Lithium Project with promising financials.

Portfolio Pulse from Austin DeNoce

February 20, 2024 | 10:00 pm

GTN

Gray Television Inc. (GTN) announced CFO Jim Ryan's decision to retire after 2025, with Jeff Gignac, currently at Wells Fargo Securities, set to succeed him. Gignac will join Gray as Executive Vice President, Finance, in April 2024, and become CFO in July 2024. Ryan, who joined Gray in 1998, played a key role in the company's growth and acquisitions. Gignac, with a 20-year career at Wells Fargo and expertise in finance within the TMT industries, is expected to lead Gray's finance functions towards further growth and balance sheet management.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 9:56 pm

MANU

Sir Jim Ratcliffe, through Trawlers Limited, has completed the acquisition of 25% of Manchester United plc's (NYSE:MANU) Class A and Class B shares. The transaction included a tender offer for Class A shares at $33.00 each, with Ratcliffe ultimately investing $200 million for additional shares, raising his total ownership to approximately 27.7% in both share classes. An additional $100 million investment is planned by the end of 2024 to support infrastructure improvements at Old Trafford.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 9:49 pm

MFC

Manulife Financial Corporation (MFC) has received approval for a normal course issuer bid (NCIB) to buy back up to 50 million of its common shares, about 2.8% of its outstanding shares, from the Toronto Stock Exchange. This move is part of its capital management strategy to maintain regulatory capital ratios and enhance shareholder value. The repurchase program is set to start on February 23, 2024, and end by February 22, 2025, or earlier if the maximum repurchase amount is reached. Manulife aims to mitigate the dilutive impact of a reinsurance transaction on its EPS through this buyback. The repurchases can be made through the TSX, NYSE, and other platforms, with all acquired shares to be cancelled.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 9:48 pm

ARVN

Arvinas, Inc. (NASDAQ:ARVN) announced a CFO transition with Sean Cassidy leaving on February 29, 2024, and Randy Teel, Ph.D., taking over as interim CFO. Cassidy's departure comes after over a decade with Arvinas, a biotech firm focusing on targeted protein degradation. The company is conducting a search for Cassidy's permanent replacement. Arvinas has four clinical trial programs and expects its financial resources to support operations into 2027.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:44 pm

PHXM

PHAXIAM Therapeutics announced its intention to voluntarily delist its American Depositary Shares (ADSs) from the Nasdaq Capital Market, effective before trading opens on March 11, 2024. The company, listed on Euronext Paris as its primary market, aims to reduce cash utilization and focus financial resources on key development milestones. The delisting from Nasdaq is seen as a strategic move to save resources given PHAXIAM's current development stage. The company will file necessary forms with the SEC to initiate the removal of the ADS listing and deregistration. ADS holders have until May 20, 2024, to surrender their ADSs for the underlying ordinary shares, with The Bank of New York Mellon serving as the depositary.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:26 pm

ESRT

Empire State Realty Trust, Inc. (ESRT) announced the promotion of Christina Chiu to President and Stephen V. Horn to Chief Financial Officer & Chief Accounting Officer. Anthony E. Malkin will continue as Chairman and CEO. Chiu's promotion is in recognition of her contributions and leadership, while Horn's promotion reflects his capabilities and potential. Both have been instrumental in ESRT's success.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:24 pm

FLS

Flowserve Corp announced a 5% increase in its quarterly cash dividend to $0.21 per share and replenished its total stock repurchase authorization to $300 million. The dividend is payable on April 12, 2024, to shareholders of record as of March 28, 2024. The company's board will review future dividends individually.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:13 pm

CHK

Chesapeake Energy Corporation has announced a reduction in its fiscal year 2024 capital expenditure by 20%, setting the new range to $1.25 billion to $1.35 billion.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:03 pm