Streetbeat News

Equity Actions

JPM

JPMorgan Chase & Co (NYSE:JPM) has announced a major reshuffling of its top management, positioning key executives for more operational experience and potential succession. Jennifer Piepszak and Troy Rohrbaugh are now Co-CEOs of the expanded Commercial & Investment Bank segment. Marianne Lake becomes the sole CEO of Consumer and Community Banking (CCB). Viswas Raghavan will lead global investment banking, while Marc Badrichani is leaving the company. JPMorgan also reported a 12% Y/Y increase in Q4 net revenue, beating consensus estimates. JPM shares saw a slight increase in premarket trading.

Portfolio Pulse from Lekha Gupta

January 26, 2024 | 1:35 pm

MOB

Mobilicom has announced a registered direct offering of 1,903,225 American Depositary Shares (ADS) at a price of $1.55 per ADS, aiming to raise $2.95 million in capital.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:32 pm

SEEL

Seelos Therapeutics has announced a registered direct offering of $4 million. This capital raise typically dilutes existing shareholders but provides the company with additional funds for operations, research, and development. The impact on the stock price can be negative in the short term due to dilution concerns.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:31 pm

AAPL

COIN

CRM

DELL

IBM

INTC

MSTR

NFLX

ORCL

TSLA

Cryptocurrencies trade mixed with negative flows into spot ETFs for the first time since their launch. Salesforce cuts 700 jobs but plans to grow with 1,000 open roles. MicroStrategy and Coinbase lag as billions flow into Bitcoin ETFs. US markets see positive sentiment and potential upside after the Fed's rate cut. Tech giants like IBM, Oracle, and Dell outperform newer tech companies. Apple faces EU regulatory changes with minimal revenue impact. Intel's Q1 guidance disappoints. Tesla's valuation drops, affecting Elon Musk's net worth, while PepsiCo reports successful Tesla Semi trial. Salesforce, Ericsson, Microsoft, and Netflix are also highlighted in various contexts.

Portfolio Pulse from Akanksha Bakshi

January 26, 2024 | 1:28 pm

NXST

Nexstar Media Group's Board has approved a 25% increase in its quarterly cash dividend, raising it from $1.35 to $1.69 per share. The dividend will be payable on February 23, 2024, to shareholders of record as of February 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:10 pm

ICU

SeaStar Medical has announced a registered direct offering priced at-the-market, raising $9 million through the sale of 10,840,761 shares of common stock or pre-funded warrants. Additionally, in a private placement, the company will issue Series A and B warrants to purchase up to 10,840,761 and 5,420,381 shares of common stock, respectively, to a single institutional investor.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:07 pm

GRI

GRI Bio has announced a 1-for-7 reverse stock split, set to take effect on January 30, 2024. This corporate action is typically used by companies to boost the share price by reducing the number of shares outstanding, which can also lead to a higher price per share.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:07 pm

FHB

The Board of Directors of First Hawaiian, Inc. has authorized a new stock repurchase program, allowing the company to repurchase up to $40 million of its outstanding common stock. This move is part of the company's capital return strategy and reflects its commitment to delivering value to shareholders. The repurchase program is also indicative of the company's financial strength and confidence in its long-term business prospects.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:05 pm

APTO

Aptose Biosciences Inc. has priced an underwritten public offering of 4,912,280 shares at $1.71 each, with warrants included, aiming to raise approximately $8.4 million. Additionally, Aptose has arranged a $4 million private placement with Hanmi Pharmaceutical.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:04 pm

AVTR

Avantor (NYSE:AVTR) has been rated by 10 financial analysts in the last three months, with a majority holding a bullish or somewhat bullish stance. The average 12-month price target is $24.55, with a high of $28.00 and a low of $21.00, indicating a 9.11% increase from the previous target. Analysts have adjusted their ratings and price targets based on recent developments, with several raising their targets. Avantor operates in various industries and has a smaller market capitalization compared to peers, a recent revenue decline of -7.34%, but strong profitability indicators such as a net margin of 6.3% and ROE of 2.14%. However, the company's debt management is a concern with a debt-to-equity ratio of 1.1.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 1:01 pm