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Equity Actions

MNSO

MINISO has changed its fiscal year-end from June 30 to December 31 to improve financial alignment. This adjustment is expected to provide a more standardized comparison with peers and align with the calendar year, which could enhance financial reporting and planning.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 6:33 am

CFLT

DVN

LAC

Jim Cramer, host of CNBC's 'Mad Money,' warned of a potential market downturn due to an unsustainable surge in tech stocks, particularly those touting AI initiatives. He noted that stocks have gone parabolic on no new information, with the 'Magnificent Seven' tech stocks needing to rest. Cramer linked the market rally to the Fed's pause on rate hikes, suggesting a cooling economy. He advised investors to take profits and remains skeptical about certain stocks like Devon Energy (DVN), Lithium Americas (LAC), and Confluent (CFLT). The major indices fell on Tuesday, with the S&P 500 down by 0.37% and the Nasdaq 100 down by 0.19%.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 3:34 am

UNRV

Unrivaled Brands, Inc. (OTCQB:UNRV) has completed a strategic reorganization, with Blum Holdings, Inc. becoming its parent company. UNRV implemented a 1-for-100 reverse stock split of its common stock on Jan. 12. Post-reorganization, UNRV shares have converted to Blüm's common stock, which will trade under the symbol 'BLMH' on the OTCQB. The company's Q3 financials showed a revenue drop of 11.4% YoY to $8.6 million, but a reduced net loss of $3.4 million compared to the previous year's $119.9 million. UNRV shares were down 7.41% at $0.0075 per share.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 11:17 pm

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), expressed his desire to increase his voting control in Tesla to around 25% to be more influential in advancing AI and robotics within the company. Musk currently owns 12.97% of Tesla shares and could own up to 20.6% with the exercising of options. His comments come amid concerns about potential conflicts of interest with his AI company, xAI, and discussions about his compensation at Tesla. Musk has sold Tesla shares in the past to fund the acquisition of Twitter, now called X. Analyst Daniel Ives of Wedbush views keeping AI initiatives within Tesla as crucial to the company's future.

Portfolio Pulse from Chris Katje

January 16, 2024 | 11:04 pm

VSAC

Vision Sensing Acquisition Corp (VSAC) has entered into a definitive agreement and plan of merger with Mediforum, a transaction valued at $250 million. Under the terms of the agreement, Mediforum will receive 25 million shares of VSAC at a price of $10 per share.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 10:37 pm

PB

Prosperity Bancshares has announced a stock repurchase program authorizing the buyback of up to approximately 4.7 million shares. This move is typically seen as a sign of confidence by the company's management in its financial health and future prospects. Repurchase programs often lead to a reduction in the number of shares outstanding, potentially increasing earnings per share and the stock's value.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 10:33 pm

INTR

Inter & Co has filed for a share offering of up to 32 million Class A shares. This move could potentially dilute existing shareholders' equity and affect the company's stock price in the short term.

Portfolio Pulse from Charles Gross

January 16, 2024 | 10:26 pm

FMAO

The board of Farmers & Merchants Bancorp has authorized a stock repurchase program for up to 650,000 shares of its outstanding common stock. The program is set to take place from January 16, 2024, to December 31, 2024, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 10:17 pm

BTC-USD

USDT-USD

Howard Lutnick, CEO of Cantor Fitzgerald, expressed confidence in Tether (USDT), stating the stablecoin has the necessary funds. Despite a UN report linking USDT to criminal activities, Lutnick sees stablecoins as valuable, especially in countries with volatile economies. He also believes Bitcoin (BTC) will grow, comparing its trajectory to early gold ETFs and predicting stability with potential for future rallies. Lutnick was skeptical about the need for Bitcoin ETFs in the U.S., viewing them as less practical than stablecoins in countries like Argentina, Venezuela, and Turkey.

Portfolio Pulse from Murtuza Merchant

January 16, 2024 | 10:12 pm

ENLC

EnLink Midstream, LLC (ENLC) has announced the completion of its 2023 common unit repurchase program and the authorization of a new $200 million repurchase plan for 2024. Additionally, ENLC increased its quarterly distribution for Q4 of 2023 to $0.1325 per common unit, reflecting a 6% increase from the previous quarter. The company also updated its financial policy to target a long-term leverage ratio of 3.5x debt-to-EBITDA. A webcast and conference call to discuss Q4 and full-year 2023 earnings, along with 2024 financial guidance, is scheduled for February 21.

Portfolio Pulse from Charles Gross

January 16, 2024 | 10:10 pm