Streetbeat News

Equity Actions

WSR

The Delaware Court of Chancery ruled in favor of Whitestone REIT in its case against Pillarstone Capital REIT. The court found that Pillarstone's adoption of a 'Poison Pill' breached the covenant of good faith and fair dealing, causing harm to Whitestone. Whitestone is now allowed to redeem its units without repercussions and may receive a monetary judgment against Pillarstone for the difference in value of the partnership's assets compared to December 2021, plus interest.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:32 pm

GAM

General American Investors' Board has authorized the repurchase of an additional 1 million shares of its common stock when the shares are trading at a discount of at least 8% from the underlying net asset value. This decision is part of an ongoing repurchase program initiated in March 1995. As of December 31, 2023, the company has repurchased 32.5 million shares at a cost of $1 billion, with an average discount of 14.1%.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:28 pm

PEPL

PepperLime Health Acquisition Corporation (NASDAQ: PEPL) announced its intention to liquidate after failing to complete an initial business combination by January 19, 2024. Shareholders of record as of February 7, 2024, will receive their share of the Trust Account funds on or about February 8, 2024. The company's sponsor waived liquidation rights for its pre-IPO shares, and there will be no distributions for redeemable warrants. The last trading day for PEPL's securities on Nasdaq is expected to be February 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:20 pm

AYI

Acuity Brands has announced an increase in its quarterly dividend from $0.13 to $0.15 per share. Additionally, the company's board has authorized the repurchase of an additional 3 million shares.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:17 pm

AAPL

META

MSFT

NVDA

TSLA

Meta Platforms (NASDAQ:META) rejoined the $1 trillion market cap club, surpassing Tesla (NASDAQ:TSLA), which fell to a market cap of $575.31 billion. NVIDIA (NASDAQ:NVDA) also recently achieved a $1 trillion market cap. Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) are competing for the title of most valuable public company, both with market caps over $3 trillion. The rivalry between CEOs of Tesla and Meta has been highlighted, with Meta's stock outperforming Tesla's in 2023. Elon Musk's wealth has decreased, while Mark Zuckerberg's has increased in 2024.

Portfolio Pulse from Chris Katje

January 25, 2024 | 9:15 pm

AROC

Archrock, Inc. has announced an increase in its quarterly cash dividend from $0.155 to $0.165 per share.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:03 pm

CACC

Credit Acceptance Corporation (CACC) has announced the promotion of Jay Martin to the position of Chief Financial Officer (CFO), effective January 23, 2024. This executive change is part of the company's leadership transition plan.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:02 pm

RJF

Raymond James Financial (NYSE:RJF) was analyzed by 7 analysts, with a mix of indifferent and somewhat bullish ratings. The average 12-month price target is $117.14, up from the previous $110.80. Analysts from UBS, JP Morgan, Jefferies, TD Cowen, Goldman Sachs, and Morgan Stanley have adjusted their ratings and price targets, reflecting their latest views on the company's performance. Raymond James Financial is a financial holding company with over $1.2 trillion assets under administration, with 90% of revenue from the U.S. and 70% from wealth management. The company has seen a 7.76% revenue growth rate and has a strong financial structure with a debt-to-equity ratio of 0.31.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 9:00 pm

HBAN

Huntington Bancshares (NASDAQ:HBAN) has received mixed analyst ratings over the past three months, with 7 analysts offering views ranging from bullish to indifferent. The average 12-month price target has been raised to $14.57, reflecting an 18.55% increase from the previous target of $12.29. Analysts from firms including Citigroup, Evercore ISI Group, Barclays, Raymond James, RBC Capital, Goldman Sachs, and Morgan Stanley have raised their price targets for HBAN. The company faces challenges with a revenue decline of -8.31% as of December 31, 2023, a below-average net margin of 12.49%, and a low ROE of 1.3% and ROA of 0.11%. Its debt-to-equity ratio of 0.77 is higher than the industry average, indicating a higher financial risk.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 9:00 pm

ABVC

ABVC BioPharma (NYSE:ABVC) has experienced a significant increase in short interest, with a 696.3% rise since the last report. The current short interest represents 2.15% of the float, with 132 thousand shares sold short. It would take about 1.0 trading day to cover all short positions. While this increase in short interest may suggest bearish sentiment, it does not necessarily predict a price drop. ABVC's short interest is slightly below its peer group average of 2.28%.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 8:45 pm