Streetbeat News

Equity Actions

BTU

Peabody Energy's stock is trading higher following the announcement that it will be included in the S&P SmallCap 600 index.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:35 pm

CATX

Perspective Therapeutics Inc (NASDAQ:CATX) shares dropped 12.9% to $0.38 after announcing the pricing of a public offering at $0.37 per share and pre-funded warrants at $0.369 each, aiming to raise $60 million. Oppenheimer & Co. and B. Riley Securities are the joint book-running managers for the offering, which includes an option for underwriters to buy additional shares.

Portfolio Pulse from Henry Khederian

January 18, 2024 | 2:34 pm

DIS

Nelson Peltz, an activist investor, has criticized the Disney Board for their lack of significant share ownership, implying a lack of commitment to the company. Peltz's comments suggest he believes board members should have more at stake to align their interests with shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:32 pm

OVV

Ovintiv Inc. (NYSE:OVV) has seen a 13.58% decrease in short interest since its last report, with 5.63 million shares sold short, representing 2.29% of its float. The average time to cover these short positions is 2.8 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Ovintiv's short interest is below its peer group average of 6.18%.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 2:30 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) has announced an upsized private placement offering, raising approximately $35 million through the sale of 8,158,510 units at $4.29 each. Each unit includes one common share and one warrant, either series A or B, which allows the holder to purchase additional shares at $4.83. The funds will be used to pay down debt, for working capital, and other corporate purposes. This follows a significant debt reduction and cost-cutting by the company since the start of fiscal 2023. The private placement is expected to close on January 19, 2024. Canopy's shares saw a pre-market drop of 2.78% to $4.55.

Portfolio Pulse from Jelena Martinovic

January 18, 2024 | 2:24 pm

DIS

Nelson Peltz, an activist investor, has commented that Disney's theme parks require additional capital investment due to intensifying competition in the industry. Peltz's statement suggests that he believes Disney needs to enhance its theme park offerings to maintain its competitive edge.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:22 pm

DIS

Trian Fund Management has filed a preliminary proxy statement with the SEC for the nomination of Nelson Peltz and James A. Rasulo to the Disney board. This move indicates an active effort by Trian to influence the governance of Disney, potentially aiming for strategic changes at the company.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:19 pm

CFG

Citizens Financial Group (NYSE:CFG) has been rated by 7 analysts in the last three months, with an average 12-month price target of $33.71, up from $32.83. Ratings range from 'Outperform' to 'Neutral', with recent actions including both raised and lowered price targets. The company faces challenges with a revenue decline of -7.49%, below-average net margin and ROE, and a high debt-to-equity ratio. CFG's market capitalization is above industry average, indicating a strong market position.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 2:00 pm

ITCI

Intra-Cellular Therapies (NASDAQ:ITCI) received mixed analyst ratings with 2 bullish, 5 somewhat bullish, and 1 indifferent. The average 12-month price target is $81.75, up from $75.60, with a high of $101.00 and a low of $64.00. Analysts from firms like Goldman Sachs, Baird, and B of A Securities have adjusted their ratings and price targets, reflecting their views on the company's market position and recent performance. Intra-Cellular Therapies, a biopharmaceutical company, has seen a 75.05% revenue growth rate over 3 months but lags in net margin and ROE compared to industry averages.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 2:00 pm

BATL

BTU

GIFI

IMPP

Four energy stocks are considered overbought based on their Relative Strength Index (RSI) values, which may signal a potential short-term pullback. Gulf Island Fabrication (GIFI) has an RSI of 76.19 after a share repurchase program announcement. Peabody Energy (BTU) reported weaker-than-expected earnings but saw a 9% stock increase over six months, with an RSI of 71.99. Battalion Oil (BATL) received a non-compliance notice from NYSE American and has an RSI of 77.60. Imperial Petroleum (IMPP) experienced a 31% stock jump after a conversion of preferred stock, with an RSI of 73.77.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 1:54 pm