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Equity Actions

VRDN

Viridian Therapeutics Inc (NASDAQ:VRDN) stock dropped 5.98% after announcing a public offering of 7,142,858 shares at $21.00 each, aiming to raise $150 million. The offering includes an option for underwriters to buy an additional 1,071,428 shares. The proceeds will fund clinical programs, working capital, and general corporate purposes. Jefferies and Leerink Partners are the offering's lead managers. VRDN's 52-week range is $10.92 to $39.00.

Portfolio Pulse from Henry Khederian

January 18, 2024 | 2:51 pm

DIS

Activist investor Nelson Peltz has disclosed the sale of half of his stake in The Walt Disney Company at a price of $113 per share. This move comes amidst Peltz's ongoing efforts to secure a seat on Disney's board, which the company has resisted. The sale could signal a shift in Peltz's strategy or confidence in the company's direction.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:48 pm

PLUG

Plug Power's stock is trading lower following the announcement of an At Market Issuance Sales Agreement with B. Riley Securities, which allows for a common stock offering of up to $1 billion.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:38 pm

ABBV

ACGL

GILD

HOOK

VZ

On CNBC's 'Halftime Report Final Trades,' analysts recommended Gilead Sciences (GILD), AbbVie (ABBV), Verizon (VZ), and Arch Capital (ACGL). Gilead purchased shares of HOOKIPA Pharma (HOOK), AbbVie expressed confidence in Botox's market share, Verizon disclosed a $5.8 billion write-down, and UBS maintained a Buy rating on Arch Capital with a lowered price target. GILD and ABBV shares rose slightly, while VZ fell and ACGL increased.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 2:36 pm

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