Streetbeat News

Equity Actions

AMC

AMC Entertainment has engaged in exchange agreements to issue 3,258,657 shares of Class A common stock in exchange for $22.5 million of its 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 9:31 pm

SABS

SAB Biotherapeutics has announced a 1-for-10 reverse stock split. This corporate action is typically used by companies to boost their share price by reducing the number of shares outstanding, which can help them meet minimum price requirements for stock exchanges and improve investor perceptions. However, reverse splits do not change the company's market capitalization or the value of individual investors' holdings.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 9:31 pm

AISP

Airship Redmond Family LP has disclosed a 34.2% active stake in Airship AI Holdings, Inc. This indicates a significant investment by the Redmond Family LP in the company, which could suggest an interest in influencing the company's direction or potential strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 9:22 pm

BLMN

Bloomin' Brands has entered into a cooperation agreement with Starboard, which owns about 9.7% of the company's stock. As part of the agreement, Dave George and Jon Sagal have been added to the board. Starboard has agreed to standstill, voting, and other customary provisions.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 9:14 pm

CFLT

MDB

Needham analyst Mike Cikos maintained a Buy rating on Confluent Inc (CFLT) and raised the price target from $23 to $30, adding it to Needham's Conviction List for 2024 as the top Infrastructure and Analytics Software pick, replacing MongoDB, Inc (MDB). CFLT is seen as undervalued after a recent run-up and is expected to have multiple growth vectors in CY24. The company's go-to-market transformation and product roadmap, including Flink's general availability and potential FedRAMP authorization, are seen as catalysts. The management's CY24 outlook accounts for multiple headwinds, with Q4 revenue and EPS projections aligning with consensus estimates. CFLT shares closed lower by 2.91% at $22.72.

Portfolio Pulse from Anusuya Lahiri

January 02, 2024 | 9:12 pm

TBLT

ToughBuilt Industries, Inc. (NASDAQ:TBLT) experienced a decline in stock price on Tuesday after beginning to trade on a split-adjusted basis due to a reverse stock split. The reverse stock split was at a ratio of 1 post-split share for every 65 pre-split shares, effective after market close on Jan. 1. The decision was authorized by stockholders at the annual meeting on Dec. 11. Trading had been halted the previous Friday and resumed on Tuesday morning. The stock closed down 15.1% at $8.69.

Portfolio Pulse from Ryan Gustafson

January 02, 2024 | 9:10 pm

LBPH

Longboard Pharmaceuticals has initiated a $150M underwritten public offering and may allow underwriters a 30-day option to buy up to an additional $22.5M of common stock. Completion, size, and terms of the offering are uncertain.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 9:02 pm

ZoomInfo Technologies (NASDAQ:ZI) has been analyzed by 14 financial analysts, showing a range of opinions. The average 12-month price target is now $20.14, down from $24.86, with high and low estimates of $24.00 and $16.00, respectively. Analysts have adjusted their ratings and price targets, with many lowering their expectations. ZoomInfo's revenue growth is strong at 9.11%, with a net margin of 9.62% and an ROE of 1.31%, but its ROA of 0.42% is below industry benchmarks. The company's debt-to-equity ratio is healthy at 0.59.

Portfolio Pulse from Benzinga Insights

January 02, 2024 | 9:00 pm

AMD

AMZN

HUMA

KRUZ

META

MNST

MSFT

NANC

NVDA

SPY

TSLA

A report by Unusual Whales reveals that 115 members of Congress disclosed stock transactions in 2023, with about a third outperforming the S&P 500. The average gains were 31.18% for Democrats and 17.99% for Republicans, compared to the S&P 500's 24.8%. The report also highlights potential conflicts of interest related to committee positions and trading activities. Notable trades include those by Josh Gottheimer in Meta Platforms and NVIDIA, and Nancy Pelosi's scrutinized Nvidia options trades. Unusual Whales launched two ETFs, NANC and KRUZ, tracking Democratic and Republican trading activities in Congress.

Portfolio Pulse from Chris Katje

January 02, 2024 | 8:51 pm

VEEV

Analysts have published 18 ratings on Veeva Systems (NYSE:VEEV) in the last three months, with a diverse range of views. The average 12-month price target is $209.44, down 3.56% from the previous average. Analysts have made various adjustments to their ratings and price targets, with some raising and others lowering their expectations. Veeva is a leading provider of cloud-based software for the life sciences industry. Financial indicators show strong market presence, profitability, and financial management, with a market cap above industry average, positive revenue trend, high net margin, ROE, and ROA, and low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 02, 2024 | 8:01 pm