Streetbeat News

Equity Actions

NVO

Novo Nordisk's Board has announced its intention to initiate a new share repurchase program of up to DKK 20 billion. This move is part of the company's capital allocation strategy and reflects its commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:05 am

ARKK

HOOD

PINS

SOFI

TSLA

ZM

Ark Investment Management, led by Cathie Wood, bought 28,684 Tesla shares worth $5.5 million, continuing its support for the company despite a recent earnings miss. Ark also increased its holdings in Robinhood, Pinterest, and SoFi Technologies, while selling shares of Zoom Video Communications. Ark's Bitcoin ETF purchases were paused after a period of buying since its debut. Tesla remains a key focus for Ark, with a bullish price target of $2,000 by 2027, largely based on the potential of Tesla's robo-taxi service.

Portfolio Pulse from Shanthi Rexaline

January 31, 2024 | 6:47 am

TSLA

Redwood Materials, co-founded by Tesla's J.B. Straubel, used a Tesla Cybertruck to transport 10,000 pounds of recycled battery materials in Nevada. This showcases the Cybertruck's utility in heavy-duty work and supports Redwood's mission to create a circular supply chain for battery materials. Redwood is expanding its operations, including building a cathode plant, and has raised significant capital for enhancing its capacity and selling U.S.-produced battery materials. The company's efforts are crucial as the demand for lithium-ion batteries is expected to increase substantially.

Portfolio Pulse from Benzinga Neuro

January 31, 2024 | 5:59 am

CRBP

Corbus Pharmaceuticals announced its intention to offer and sell shares of its common stock or pre-funded warrants in an underwritten registered public offering. The offering's completion, size, and terms are subject to market conditions. Proceeds will fund clinical development and provide working capital and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:55 am

WMT

Walmart Inc. (NYSE:WMT) has announced a 3-for-1 stock split, approved by its board, aimed at making share purchases more attainable for its employees and investors. Shareholders on record by Feb. 22 will receive two additional shares for each share held, with distribution after market close on Feb. 23. Walmart's stock will trade on a post-split basis starting Feb. 26. The move reflects the company's growth and future plans, aligning with founder Sam Walton's vision of inclusive share ownership.

Portfolio Pulse from Ryan Gustafson

January 30, 2024 | 11:09 pm

AXS

Chris Dixon of a16z claimed on the Hard Fork podcast that their portfolio companies do not sell tokens to the public. However, a review of a16z's investments shows otherwise, with DFINITY, Fei Protocol, and Sky Mavis (Axie Infinity) having conducted public token sales. Additionally, a16z-backed companies like VeeFriends, Yuga Labs, and PROOF Collective have sold NFTs to retail customers.

Portfolio Pulse from Murtuza Merchant

January 30, 2024 | 10:31 pm

TSLA

A Delaware judge voided Elon Musk's $55-billion compensation plan, which was challenged by a Tesla shareholder for lack of proper investor disclosures. Tesla's board must now propose a new compensation plan for Musk. This ruling could affect Musk's status as the world's richest person, potentially dropping his net worth and ranking. Tesla shares fell 2% in after-hours trading.

Portfolio Pulse from Chris Katje

January 30, 2024 | 10:19 pm

AMSC

AMSC's stock price is trading lower following the announcement of a proposed public offering of common stock, which typically dilutes existing shareholders' equity and can put downward pressure on the stock price.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:48 pm

ATKR

Atkore Inc. has announced the initiation of a quarterly dividend, setting the amount at $0.32 per share. This marks the company's first foray into providing regular dividend payments to its shareholders, signaling confidence in its financial stability and profitability.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:45 pm

MTCH

Match Group, Inc. (NASDAQ:MTCH) exceeded Q4 earnings expectations with $0.81 EPS, surpassing the $0.49 consensus. Quarterly sales reached $866 million, slightly above the $861.22 million forecast. Year-over-year, sales increased by 10.16%. The board authorized a $1 billion share buyback program. Revenue projections for Q1 are between $850 million and $860 million, and for full year 2024, they are between $3.565 billion and $3.665 billion. CEO Bernard Kim highlighted leadership changes, product innovation, and AI integration for future growth.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 9:40 pm