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Equity Actions

INBS

Intelligent Bio Solutions (INBS) announced a 1-for-12 reverse stock split, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 8:08 pm

BZFD

BuzzFeed Inc (NASDAQ:BZFD) and Vice Media are facing financial difficulties, leading to downsizing and asset sales. BuzzFeed's stock has dropped over 97% since its 2021 IPO, and it is now looking to sell its food-focused sites Tasty and First We Feast. Vice Media, overseen by Fortress Investment Group after bankruptcy, is trying to sell Refinery29 after a failed attempt to sell the entire company. Both companies are struggling with a volatile advertising market and reduced traffic, reflecting broader industry challenges for digital media.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 8:06 pm

EQNR

Equinor (NYSE:EQNR) has agreed to a swap transaction with bp, gaining full ownership of the Empire Wind lease and projects, and taking over bp's 50% share of the South Brooklyn Marine Terminal lease. In exchange, bp will take full ownership of the Beacon Wind lease and projects. The deal is cash neutral, except for standard settlements. Equinor submitted a bid for Empire Wind 1 in New York's offshore wind solicitation and terminated the OREC agreement for Beacon Wind 1. The transaction will increase Equinor's near-term capital expenditure by approximately $1.2 billion in 2024 and $1.5 billion in 2025, and is expected to result in a reported loss of around $200 million, pending regulatory approval and a positive NY4 solicitation outcome.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 8:05 pm

GBTC

The SEC has postponed its decision on Grayscale's proposal for a spot Ethereum ETF, originally submitted by NYSE Arca on Oct. 10, 2023. The Grayscale Ethereum Trust aims to reflect the value of Ethereum, and the SEC is seeking public input on the proposal's compliance with the Securities Exchange Act of 1934. The SEC is concerned with potential fraudulent and manipulative acts, investor protection, and the correlation between Ethereum spot and futures markets. Public comments are invited within 21 days of the proposal's Federal Register publication, with an additional 35 days for rebuttals. Bloomberg analyst James Seyffart anticipates sporadic delays for spot Ethereum ETFs in the coming months, with the next significant date being May 23rd.

Portfolio Pulse from Murtuza Merchant

January 25, 2024 | 8:04 pm

STZ

Constellation Brands (NYSE:STZ) has seen a 24.32% increase in short interest since its last report, with 1.62 million shares sold short, representing 0.92% of available shares. The short interest is below the peer group average of 4.45%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Traders would need approximately 1.0 days to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 8:00 pm

EKSO

Ekso Bionics Holdings (NYSE:EKSO) has seen a 14.74% increase in short interest since its last report, with 373 thousand shares sold short, representing 2.18% of its float. The short interest is lower than the peer group average of 4.15%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 7:30 pm

OPTT

Paragon Technologies, a 4.8% shareholder in Ocean Power Technologies, is campaigning for shareholders to vote for its board nominees using the Blue Proxy Card. Paragon is actively seeking to influence the board composition of OPTT.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 7:13 pm

CGON

CG Oncology's IPO shares opened at $29 per share, significantly higher than the IPO price of $19 per share on an offering of 20 million shares.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:40 pm

YIBO

Planet Image International has opened its shares for trade in an Initial Public Offering (IPO). The article may also mention YIBO, but no specific details about its involvement or impact on the IPO were provided.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:39 pm

SPY

U.S. Treasury Secretary Janet Yellen has indicated that tax fairness will be a key component of President Joe Biden's second-term agenda. This includes ensuring that wealthy individuals and corporations pay more in taxes, while maintaining the tax cuts implemented during the Trump era for those earning less than $400,000 annually.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:35 pm