Streetbeat News

Equity Actions

TTGT

TechTarget (NASDAQ:TTGT) and Informa PLC (LSE: INF.L) have announced a definitive agreement to combine Informa Tech's digital businesses with TechTarget, creating a new entity, New TechTarget. TechTarget shareholders will receive approximately $11.79 per share in cash and retain a 43% stake in the new company. Informa PLC will contribute its digital businesses and $350 million in cash for a 57% stake in New TechTarget. The combined company is expected to achieve double-digit organic revenue growth, 35%+ Adjusted EBITDA margins, and strong free cash flow within three years. The merger aims to create a leading global platform in B2B Data and Market Access, expanding TechTarget's addressable market and enhancing business resilience by entering new markets and buyer personas.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:37 pm

CMC

Commercial Metals Company (CMC) has announced a $500 million increase to its existing share repurchase program, signaling confidence in the company's financial health and a commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:31 pm

BETS

Bit Brother Limited (NASDAQ:BETS) experienced a significant stock price movement on Wednesday, following the announcement of a 1-for-1,000 reverse stock split approved by its board. The split is expected to be effective around Jan. 10. Trading was halted on Tuesday night and resumed on Monday. Despite an initial drop of 15%, shares rose by nearly 30%. The volatility was partly due to market chaos linked to a compromised SEC Twitter account, which falsely claimed Bitcoin ETF approvals.

Portfolio Pulse from Ryan Gustafson

January 10, 2024 | 9:30 pm

PRAX

Praxis Precision Medicines has announced its intention to conduct a proposed public offering of its common stock. However, the terms of the offering have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:21 pm

TPHS

Trinity Place Holdings Inc. has entered into a stock purchase agreement with a lender under its corporate credit facility and an affiliate of that lender. The agreement involves the sale of stock, which may impact the company's share structure and financial stability.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:18 pm

MRT

Marti has announced a share repurchase program authorized by its Board of Directors, allowing the company to buy back up to $2.5 million of its Class A ordinary shares. This represents about 7.9% of Marti's market capitalization based on the closing price of $0.6510 on January 9, 2024. The repurchase program is effective immediately and will last for six months.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:10 pm

WERN

Werner Enterprises has announced the appointment of Nathan Meisgeier as President, effective January 5. This strategic leadership change could signal a new direction or continued growth for the company.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:06 pm

REBN

Reborn Coffee, Inc. (NASDAQ:REBN) has received a $1M private placement equity commitment from its Chairman, Farooq Arjomand. This investment is a strong vote of confidence in Reborn's valuation and growth potential, coinciding with the opening of its flagship store in Malaysia and planned expansion into Dubai and Southeast Asia. The company aims to leverage this investment to enhance product offerings, expand market reach, and continue innovating within the coffee industry.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:05 pm

IVA

Inventiva (NASDAQ:IVA) has drawn down the second €25 million tranche of its loan agreement with the European Investment Bank to fund its NATiV3 Phase III clinical trial for lanifibranor in NASH patients. The loan has a 7% interest rate, a 3-year maturity, and repayment is expected after the trial results in H1 2026. The funds extend Inventiva's cash runway until Q3 2024. The company issued 3,144,654 warrants to EIB with an exercise price of €3.95, potentially raising €12,421,383 if exercised.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:03 pm

O

Realty Income (NYSE:O) has received mixed analyst ratings over the past quarter, with 6 analysts offering opinions ranging from bullish to indifferent. The average 12-month price target is $60.25, with a high of $67.50 and a low of $48.00, marking a slight decrease from the previous average of $61.12. Analysts from firms including Mizuho, Exane BNP Paribas, Wolfe Research, RBC Capital, and Stifel have updated their ratings and price targets, reflecting their views on the company's performance and market conditions. Realty Income owns a diverse portfolio of properties and has shown strong revenue growth and net margin, but below-average ROE and ROA. Its debt-to-equity ratio is below industry norms, indicating a sound financial structure.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 9:01 pm