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ES

Eversource Energy (NYSE:ES) is in advanced talks to sell its 50% stake in three offshore wind projects to a global private infrastructure investor. The company will record an impairment charge of $1.4-$1.6 billion in Q4 due to revised construction costs, which will not affect future cash flows or current cash balances. Eversource will provide 2024 earnings guidance and other financial forecasts in an upcoming earnings call.

Portfolio Pulse from Shivani Kumaresan

January 09, 2024 | 11:44 am

FBRX

Funicular Funds reported in an amended 13D filing that Forte Biosciences filed a legal action against Jacob Ma-Weaver and Funicular Funds on Oct 28, 2023. Funicular Funds, which holds a 5.59% stake in Forte Biosciences, believes the allegations are baseless and without merit.

Portfolio Pulse from Charles Gross

January 09, 2024 | 11:20 am

COIN

PATH

QCOM

ROKU

Cathie Wood's Ark Investment Management paused its sell-off of Coinbase Global, Inc. (COIN) shares, after consistently selling since July 2023. Coinbase is a major holding in Ark's ETFs, including ARKK, ARKF, and ARKW. Despite the sell-off, the value of Ark's Coinbase stake increased by over $400 million due to a rally in the shares. Ark also invested $8M in Qualcomm, Inc. (QCOM) through ARKW and ARKQ, marking a re-entry after a 5-year hiatus. Additionally, Ark sold shares of Roku, Inc. (ROKU) and UiPath Inc. (PATH).

Portfolio Pulse from Shanthi Rexaline

January 09, 2024 | 9:43 am

AKR

Acadia Realty Trust has priced its offering of 6.9 million common shares at $16.75 per share. This move is aimed at raising capital, potentially for growth initiatives, debt reduction, or other corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 6:43 am

AKR

Acadia Realty Trust (NYSE:AKR) has priced an underwritten offering of 6.9 million shares at $16.75 each, including an option for underwriters to purchase an additional 900,000 shares. The offering is set to close on January 11, 2024. The proceeds will be used for general corporate purposes such as funding acquisitions, repaying debt, and working capital. J.P. Morgan and BofA Securities are the underwriters for the offering.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 4:02 am

PETS

PetMed Express has announced the appointment of Leslie C. G. Campbell as the Chairman of the Board, effective January 5, 2024. Campbell has been a member of PetMeds' Board since 2018 and holds positions on several committees. Gian Fulgoni, the current Chairman, will remain on the Board.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 10:50 pm

JBLU

JetBlue has announced that its President & COO, Joanna Geraghty, will succeed Robin Hayes as CEO on February 12, 2024. This planned leadership transition is part of the company's long-term strategy.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 10:01 pm

CAAP

Corporación América Airports S.A. (NYSE:CAAP) announced that its subsidiary ICASGA received a gross indemnification payment of R$610.4 million due to the friendly termination of its concession agreement for the Natal airport in Brazil. The payment will positively impact CAAP's Adjusted EBITDA by R$610.6 million in 4Q2023. The net indemnification amount will be disclosed after accounting for regulatory deductions, taxes, and costs, as well as pre-payment of ICASGA's debts. The transition to a new operator is expected to be completed by early March.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:36 pm

CMA

Comerica Incorporated anticipates significant expenses in Q4 2023, including a $109M special assessment, $91M for re-designating swaps, and $25M for certain initiatives. These costs will likely impact the company's financial results for the quarter.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:29 pm

BTCUSD

ETHUSD

The total cryptocurrency market cap has reached $1.69 trillion, the highest since May 2022, driven by expectations of a Bitcoin spot ETF approval. Bitcoin's market value nearly doubled to $920 billion, while Ethereum's market share slightly declined. Analysts at Standard Chartered predict a bullish future for Bitcoin, suggesting a potential rise to $100,000 by the end of 2024 if the ETF is approved, with an optimistic forecast of $200,000 by the end of 2025.

Portfolio Pulse from Piero Cingari

January 08, 2024 | 9:27 pm