Streetbeat News

Equity Actions

MESA

Mesa Air anticipates that the completion of its current and scheduled asset sale deals related to CRJ aircraft, along with principal repayments through Q4 2024, will reduce its total debt by an additional $225.4 million.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:23 pm

BTU

ELF

SRC

e.l.f. Beauty, Inc. (NYSE:ELF) shares experienced a pullback after reaching an all-time high earlier in the week. The stock had gained over 50% in the past three months, driven by strong holiday sales and positive market sentiment. Despite the recent decline, JP Morgan analyst Andrea Teixeira maintained an Overweight rating on ELF and increased the price target from $130 to $175. Additionally, ELF will replace Spirit Realty Capital Inc. (NYSE:SRC) in the S&P MidCap 400, and Peabody Energy Corp. (NYSE:BTU) will take ELF's place in the S&P SmallCap 600 effective January 23.

Portfolio Pulse from Ryan Gustafson

January 18, 2024 | 9:18 pm

BECN

Beacon has announced the commencement of a secondary public offering of 5.218 million shares by its selling stockholder, CD&R. After the completion of this offering, CD&R will no longer hold any shares of Beacon's common stock.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:15 pm

ASTS

GOOGL

T

VOD

AST SpaceMobile has announced new financing of up to $206.5M in gross proceeds, with investments from major companies including AT&T, Google, and Vodafone. This capital infusion is aimed at advancing AST SpaceMobile's mission to deliver space-based mobile broadband services.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:12 pm

MATX

Matson, Inc. (NYSE:MATX) released preliminary Q4 results, expecting operating income for Ocean Transportation to be $61.0-$66.0 million and for Logistics $8.0-$9.0 million. Q4 net income is projected to be $57.7-$62.2 million with EPS of $1.65-$1.78. The company repurchased 0.5 million shares in Q4 and will hold its earnings call on February 20, 2024. Matson saw a decrease in Hawaii and Alaska container volumes but an increase in China and Guam volumes. The effective income tax rate for Q4 is estimated at 26%, and the company had $134.0 million in cash and cash equivalents, excluding $599.4 million in the CCF, with total debt of $440.6 million.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:12 pm

CMBM

Cambium Networks has appointed John Becerril as the Interim CFO, effective February 2, 2024. He will be succeeding Andrew Bronstein, who currently holds the position. This change in the company's financial leadership could signal a new direction or strategy for Cambium Networks.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:09 pm

ACIC

Bradford Martz is stepping down as CFO of American Coastal Insurance to focus on his role as President. Svetlana Castle will take over as CFO effective January 22, 2024. Martz will now concentrate on investor relations and strategic initiatives to enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:07 pm

PLL

Piedmont Lithium has sold 24.3 million shares of Atlantic Lithium to Assore Limited, generating approximately $7.8 million in proceeds. This transaction may indicate Piedmont's strategy to liquidate some of its assets or to raise funds for other projects or debt repayment.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:07 pm

ESPR

Esperion Therapeutics has announced the commencement of a public offering of shares of its common stock. The terms of the offering have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:01 pm

CSWC

Capital Southwest Inc. (NASDAQ:CSWC) stock is currently at $25.30, down 0.35% in the current session but up 8.67% over the past month and 36.37% over the past year. The company's P/E ratio of 13.72 is lower than the Capital Markets industry average of 20.25, which could indicate that the stock is undervalued or that shareholders expect less future growth.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 8:45 pm