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Equity Actions

CHNR

China Natural Resources, Inc. (CHNR) announced a $3.27 million registered direct placement, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 3:56 pm

ARRY

BAC

DIS

JD

SPR

Institutional investors have shown increased interest in Bank of America, Walt Disney, JD.com, Array Technologies, and Spirit AeroSystems, as indicated by Q4 2023 13F filings. These companies have seen significant hikes in institutional ownership, with notable investors like Berkshire Hathaway and Vanguard Group leading the charge. This shift in investment preference leaves behind tech giants Tesla and Nvidia, highlighting a potential market trend towards banking, entertainment, e-commerce, renewable energy, and aerospace sectors.

Portfolio Pulse from Surbhi Jain

February 16, 2024 | 3:54 pm

NOG

Northern Oil & Gas (NYSE:NOG) has been analyzed by 11 analysts, showing a mix of bullish to bearish sentiments. The average 12-month price target is now $47.36, down 7.39% from $51.14. Analyst actions include lowering and maintaining ratings, with price targets adjusted accordingly. Northern Oil & Gas, an independent energy company, faces challenges such as a decline in revenue growth (-3.84%), below-average net margin (5.08%), and high debt-to-equity ratio (1.46), indicating potential financial leverage concerns.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 3:00 pm

CHNR

China Natural Resources Inc (NASDAQ:CHNR) stock plummeted by 42% to $2.00 after announcing a direct placement of $3.27 million worth of shares at $2.20 each to institutional investors. The deal includes warrants exercisable for up to 1,115,903 shares at $3.00 each, with a 42-month term. The offering, set to close around February 21, 2024, aims to raise funds for general working capital. FT Global Capital, Inc. is the exclusive placement agent.

Portfolio Pulse from Henry Khederian

February 16, 2024 | 2:59 pm

CHNR

China Natural Resources, Inc. (CHNR) has announced a registered direct placement of $3.27 million of common shares at $2.20 per share and a concurrent private placement of warrants. The offering includes 1,487,870 common shares and warrants exercisable for up to 1,115,903 shares at $3.00 each, with a 42-month term. The net proceeds will be used for general working capital purposes, with the offering's completion expected around February 21, 2024. FT Global Capital, Inc. served as the exclusive placement agent.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 2:30 pm

COIN

MSTR

SPY

YELP

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin surged amid increased US demand. MicroStrategy's potential S&P 500 inclusion could broaden Bitcoin's reach. Dogecoin's co-creator disclosed minimal Bitcoin holdings. Cathie Wood praised Coinbase's timing and execution after selling shares. Coinbase is named custodian in multiple Ethereum ETF applications, seen as beneficial for the company. Yelp, Roku, and Dropbox stocks moved lower in pre-market trading. S&P 500 hit a record high, reflecting improved investor optimism. Political and economic events also influenced market sentiments.

Portfolio Pulse from Akanksha Bakshi

February 16, 2024 | 2:08 pm

GE

GEHC

GE HealthCare Technologies Inc. (NASDAQ:GEHC) shares are falling in premarket trading after announcing a secondary underwritten public offering of 13 million shares at $82.25 each. General Electric Company (NYSE:GE) plans to exchange these shares for indebtedness held by MS Lenders, affiliates of Morgan Stanley. GEHC will not receive proceeds from this offering or the debt-for-equity exchange. Despite a positive forecast from HSBC and a strong Q4 sales report, GEHC shares dropped 2.60% to $83.40 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

February 16, 2024 | 2:00 pm

AR

Antero Resources (NYSE:AR) has seen varied analyst opinions over the past three months, with a recent shift towards a more cautious outlook. The average 12-month price target has been adjusted to $27.86, marking a 13.4% decrease from the previous target of $32.17. This change reflects adjustments in ratings and price targets by analysts from firms like Truist Securities, Raymond James, Benchmark, Mizuho, and Wells Fargo. Despite these adjustments, Antero Resources faces challenges in market capitalization, revenue growth, net margin, ROE, ROA, and debt management, indicating potential difficulties in achieving strong profitability and financial performance.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 2:00 pm

TVTX

In the last three months, 7 analysts have provided diverse ratings on Travere Therapeutics (NASDAQ:TVTX), with an average 12-month price target of $12.71, marking an 18.23% increase from the previous target. The company has shown significant revenue growth and exceptional financial performance, despite a high debt-to-equity ratio. Analysts' actions and price target adjustments reflect changing market dynamics and company performance.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 2:00 pm

SCL

Stepan Company (NYSE:SCL) is anticipated to release its Q4 earnings on Feb. 20, 2024, with expected earnings of 37 cents per share, down from 59 cents a year ago, and projected revenue of $534.53 billion, a decrease from $627.18 million. The company recently appointed Susan M. Lewis as a director and reported a 22% sales decrease in Q3 FY23. Stepan offers a dividend yield of 1.68%, equating to a quarterly dividend of 37.50 cents per share. To earn $500 monthly from dividends, an investor would need approximately 4,000 shares, valued at around $373,400.

Portfolio Pulse from Avi Kapoor

February 16, 2024 | 1:42 pm