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HTZ

PSNY

Hertz Global Holdings Inc (NASDAQ:HTZ) has paused its procurement of Polestar vehicles amid a fleet restructuring, aiming to downsize its EV fleet. The decision follows an agreement with Polestar to waive Hertz's purchase requirements for 2024, with Hertz committing not to sell its existing Polestar EVs prematurely. The partnership, announced in 2022, initially involved Hertz purchasing up to 65,000 EVs from Polestar over five years. However, due to higher repair costs for EVs, Hertz is scaling back its EV fleet, affecting its timeline for achieving a 25% electric fleet by the end of 2024. Hertz has begun selling Tesla vehicles from its fleet, with plans to sell about 20,000 EVs this year. Following the news, Polestar's shares fell 7.3%, and Hertz's shares dropped 5.6%.

Portfolio Pulse from Anan Ashraf

February 06, 2024 | 5:17 am

DIS

MTSFY

OLCLY

Elliott Management, an activist investor, has acquired a 2% stake in Mitsui Fudosan (OTC:MTSFY) and is pressuring the company to sell its shares in Oriental Land (OTC:OLCLY), the operator of Tokyo Disney Resort. Elliott proposes using the sale proceeds for a $6.7 billion share buyback to improve Mitsui Fudosan's return on equity. This move is part of Elliott's broader strategy to influence Japanese companies, similar to its past involvement with companies like SoftBank Group and Toshiba.

Portfolio Pulse from Benzinga Neuro

February 06, 2024 | 3:00 am

FDMT

4D Molecular Therapeutics has filed for a mixed shelf offering, although the size of the offering has not been disclosed. This move allows the company to sell various types of securities over time, providing flexibility in financing its operations or growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:42 pm

BREA

Brera Holdings Plc has filed for a mixed shelf offering of up to $100 million, according to an SEC filing. This move allows the company to potentially issue various types of securities in the future, providing flexibility in raising capital.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:36 pm

CRBP

Paradigm BioCapital Advisors has reported a 7.7% passive stake in Corbus Pharmaceuticals, according to a 13G filing.

Portfolio Pulse from Charles Gross

February 05, 2024 | 9:35 pm

PINC

Premier Inc's Board has concluded its strategic review process, authorizing a $1B stock buyback program. Additionally, the company is exploring partnerships to potentially transfer ownership of its holdings in Contigo Health and S2S Global.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:35 pm

CISS

C3is shares are trading lower following the company's filing for an offering of 43.75 million units, indicating a potential increase in supply that could dilute current shareholders' value.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:31 pm

RVSN

Rail Vision has filed a prospectus with the SEC for the resale, from time to time, by selling shareholders of up to 8.9 million ordinary shares. This move could potentially increase the liquidity of RVSN shares but also may dilute current shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:25 pm

TWO

Two Harbors Investment Corp. (NYSE:TWO) announced the retirement of CFO Mary Riskey, effective August 1, 2024, or until a successor is appointed. The company has begun an external search for a new CFO. President and CEO Bill Greenberg praised Riskey's contributions and wished her well in retirement.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:24 pm

HESM

Hess Midstream LP (HESM) announced a secondary public offering of 10 million Class A shares by an affiliate of Global Infrastructure Partners. The offering includes an option for underwriters to purchase up to an additional 1.5 million shares. HESM will not receive any proceeds from this sale. Citigroup is the bookrunning manager for the offering, which will be made available through various market transactions. The offering is detailed in a prospectus supplement and base prospectus filed with the SEC.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:22 pm