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Equity Actions

KPRX

Kiora Pharmaceuticals, Inc. (KPRX) has entered into a securities purchase agreement to raise up to $45 million. The deal includes $15 million in initial funding and up to $30 million more upon exercise of warrants by healthcare-focused institutional investors.

Portfolio Pulse from Charles Gross

January 31, 2024 | 11:43 pm

CTVA

Corteva Inc. (NYSE:CTVA) reported Q4 adjusted earnings of $0.15 per share, beating estimates of $0.06, but down from $0.16 year-over-year. Sales were $3.71 billion, exceeding expectations of $3.62 billion, yet down 3.08% from last year. The company experienced a net sales decrease of 3% and an 8% organic sales decrease, with a 9% volume decline in Latin America. Operating EBITDA increased by 4% to $386 million. Corteva forecasts 2024 net sales of $17.4-$17.7 billion, with adjusted earnings of $2.70-$2.90 per share, below the $3.01 estimate. The company announced a $1.0 billion share repurchase plan for 2024. After the earnings release, CTVA shares rose 4.55% to $47.55 in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 31, 2024 | 11:00 pm

PBI

Pitney Bowes has reached a cooperation agreement with Hestia Capital. Mary Guilfoile will retire from her role as Chair and from the Board after the 2024 Annual Meeting. The Board will elect a new Chair post-retirement. Pitney Bowes also announced the addition of two independent board members, William S. Simon and Jill Sutton, effective February 1, 2024. The next permanent CEO of Pitney Bowes will join the Board as its tenth member.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:51 pm

ATNF

180 Life Sciences Corp. has filed an S-1 form with the SEC for an offering of up to 13.95 million shares by a selling stockholder. The company itself will not receive any proceeds from the sale of these shares.

Portfolio Pulse from Charles Gross

January 31, 2024 | 10:35 pm

ESQ

Esquire Financial Holdings, Inc. has announced a 20% increase in its regular quarterly dividend, from $0.1250 to $0.15 per share, payable on March 1, 2024, to stockholders of record as of February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:14 pm

CTVA

Corteva, Inc. has announced its intention to repurchase approximately $1.0 billion of its shares in 2024. This buyback plan reflects the company's confidence in its financial strength and commitment to delivering value to its shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:04 pm

ARQT

Steven Cohen has reported a 5.2% passive stake in Arcutis Biotherapeutics, according to a 13G filing.

Portfolio Pulse from Charles Gross

January 31, 2024 | 10:00 pm

VLCN

Volcon Inc. (VLCN) announced a 1-for-45 reverse stock split, causing its shares to trade lower. Reverse stock splits often signal that a company is attempting to boost its share price to meet exchange listing requirements or to improve perception, but can be viewed negatively by the market as it may indicate underlying issues with the company's value or performance.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 9:52 pm

VLCN

Volcon, Inc. has announced a 1-for-45 reverse stock split. This corporate action is typically used by companies to boost their share price by reducing the number of shares outstanding, which can help them meet minimum price requirements for stock exchanges and improve investor perceptions. However, reverse splits do not change the company's overall market capitalization and can sometimes be viewed negatively as they may signal underlying issues with the company's performance or stock demand.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 9:49 pm

ESTA

Establishment Labs Holdings is facilitating the sale of up to 2 million common shares by selling shareholders, as detailed in a 424B7 filing.

Portfolio Pulse from Charles Gross

January 31, 2024 | 9:42 pm