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The U.S. Senate passed a $95-billion aid package for Ukraine and Israel, with significant funds allocated for defense spending and humanitarian aid. The bill, facing opposition in the House, could impact defense stocks and ETFs like Lockheed Martin, Honeywell International, General Dynamics, Boeing, and aerospace & defense ETFs (ITA, PPA, XAR) due to the allocation of $13.8 billion for U.S. weapons and munitions purchases.

Portfolio Pulse from Natan Ponieman

February 13, 2024 | 11:00 pm

CART

On February 9, 2024, Maplebear (Instacart) Board approved an increase to its previously announced share repurchase program, authorizing the purchase of up to $1B of common stock, doubling the amount from $500M authorized in November 2023.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 10:06 pm

TSLY

YieldMax has announced a 1-for-2 reverse stock split for TSLY, effectively reducing the number of shares available and potentially increasing the stock price.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 10:04 pm

LRMR

Larimar Therapeutics, Inc. (LRMR) announced a proposed underwritten public offering of its common stock and pre-funded warrants. The offering includes a 30-day option for underwriters to purchase an additional 15% of the securities. The offering's completion, size, and terms are subject to market conditions. Leerink Partners, Citigroup, and Guggenheim Securities are the joint bookrunning managers, with LifeSci Capital as the lead manager. The proceeds are intended for the development of nomlabofusp (CTI-1601), other pipeline candidates, working capital, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:54 pm

CART

Instacart (Maplebear Inc., NASDAQ:CART) reported Q4 earnings of 44 cents per share with revenue of $803 million, slightly missing analyst expectations by 0.15%. CEO Fidji Simo highlighted solid Q4 results and a strong position for 2024, announcing an additional $500 million for share repurchases, totaling $1 billion. The company also reduced its workforce by 250 to improve efficiency. Instacart anticipates 7% to 10% year-over-year growth in Q1 gross transaction value, projecting between $8 billion and $8.2 billion. After the announcement, Instacart shares rose 7.72% in after-hours trading to $30.00.

Portfolio Pulse from Erica Kollmann

February 13, 2024 | 9:53 pm

MFV

MFS Investment Management has announced the planned liquidation of the MFS Special Value Trust, expected to be completed by April 29, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:42 pm

IMNM

Immunome, Inc. (NASDAQ:IMNM), a biotech company focusing on cancer therapies, announced a proposed public offering of $200M of its common stock. The offering is underwritten by J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities, with Wedbush PacGrow as the lead manager. The company also plans to give underwriters a 30-day option to buy an additional 15% of the shares sold.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:42 pm

REVG

REV Group, Inc. (NYSE:REVG) announced a proposed secondary offering of 12M shares by certain stockholders, with an option for underwriters to buy an additional 1.8M shares. REV Group will not sell any shares or receive proceeds from this offering. Instead, it plans to repurchase 6M shares from the underwriters using cash and borrowings. The offering's success is subject to market conditions, and the SEC has declared the registration statement effective. Baird, Goldman Sachs, and Morgan Stanley are the joint book-running managers.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:40 pm

MAR

Marriott International, Inc. has filed for a mixed shelf offering, though the size of the offering has not been disclosed. This move allows the company flexibility in financing options for future endeavors.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:34 pm

NAMS

NewAmsterdam Pharma has initiated a public offering of ordinary shares and pre-funded warrants, though specific terms were not disclosed. The company also plans to offer underwriters a 30-day option to purchase up to an additional 15% of the securities sold in the offering.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:03 pm