Streetbeat News

Equity Actions

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

CUBA

The Herzfeld Caribbean Basin Fund, Inc. (CUBA) has initiated a Tender Offer to purchase up to 10% of its outstanding shares at 97.5% of NAV. The offer, announced on February 9, 2024, and detailed in documents available on the SEC website and the Fund's site, aims to buy shares at a slight discount to their Net Asset Value as of March 19, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:01 pm

BPMC

Blueprint Medicines (NYSE:BPMC) has seen a 5.37% increase in its short percent of float since the last report, with 4.60 million shares sold short, representing 10.2% of available shares. This indicates a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. Compared to its peers, BPMC has a higher short interest, suggesting more bearish sentiment towards it than its peers.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 8:45 pm

TFC

Truist Finl (NYSE:TFC) has seen a 17.16% decrease in short interest, now at 14.70 million shares or 1.11% of float, indicating a potential shift in market sentiment towards more bullish. The short interest decline suggests fewer traders are betting against the stock. Compared to its peers, TFC has a lower short interest percentage of float (3.61%), suggesting better performance or sentiment towards the company.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 8:45 pm

BJRI

PW Partners, an activist investor holding approximately 4.9% of BJ's Restaurants Inc. (BJRI), has sent a letter to BJ's Chairman, Gerald Deitchle, urging immediate actions to enhance shareholder value. The letter outlines a plan to reduce costs by $50 million, execute a $100 million stock buyback, reduce the Board size, and appoint PW Partners' representatives to the Board. PW Partners criticizes the current Board's effectiveness and highlights a significant opportunity for margin expansion, referencing a past success where their involvement led to an 80% stock price increase.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 8:43 pm

MSTR

Michael Saylor, executive chairman of MicroStrategy Inc (NASDAQ:MSTR), remains bullish on Bitcoin, emphasizing a long-term 'buy and hold' strategy. He views ETFs as a gateway for institutional capital into Bitcoin, predicting this will benefit the Bitcoin ecosystem and MicroStrategy's leveraged strategy. Saylor sees Bitcoin as the ultimate exit strategy and a superior store of value, predicting capital will shift from traditional assets to Bitcoin.

Portfolio Pulse from Murtuza Merchant

February 20, 2024 | 8:16 pm

NURO

RS Fund LP has reported a 14.4% stake in NeuroMetrix as of February 13, 2024, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 7:58 pm