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Equity Actions

AAMC

Altisource Asset Management Corp (AAMC) announced the appointment of William C. Erbey as the new CEO and Chairman of the Board, effective December 21, 2023, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:06 pm

LMDX

A recent 13D/A filing with the SEC reveals that Willard L. Umphrey now holds a 10.31% stake in LumiraDx Ltd as of December 22. This filing indicates a significant ownership position in the company.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:00 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) shares have risen after the company announced a share consolidation on a 1-for-10 basis to regain compliance with Nasdaq listing requirements. The stock had previously surged with the sale of BioSteel Canada and the launch of CBD gummies with Martha Stewart CBD but fell before the consolidation. Post-consolidation, shares began to recover, with a 15% increase over the last week.

Portfolio Pulse from Ryan Gustafson

December 26, 2023 | 8:59 pm

ZYME

Zymeworks Inc. stock (ZYME) is trading higher following the announcement of a securities purchase agreement with EcoR1 Capital, which will provide the company with $50 million in gross proceeds.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 8:34 pm

HALL

Hallmark Financial Services has notified Nasdaq of its intention to voluntarily delist its common stock from the Nasdaq Global Market. According to an SEC filing, trading of the company's stock will be suspended at the opening of business on January 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 8:30 pm

EFA

IVV

SPY

VOO

WFC

XLB

XLI

XLV

Wells Fargo Investment Institute has set a target for the S&P 500 Index at 4600-4800 by the end of 2024, expecting global earnings to face challenges early in the year but to rebound later. They favor large-caps over mid-caps and small-caps, and have a target for the MSCI EAFE Index at 2000-2200. Wells Fargo's favored sectors for 2024 are Health Care, Industrials, and Materials, while Consumer Discretionary and Real Estate are viewed unfavorably. ETFs tracking these indices and sectors are highlighted as investment options.

Portfolio Pulse from Surbhi Jain

December 26, 2023 | 7:37 pm

NTES

NetEase shares are trading higher due to a report indicating that Chinese gaming companies are initiating share repurchase programs in response to China's new gaming regulations.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 7:24 pm

IINN

Inspira has announced a registered direct offering of 3,031,250 shares at a price of $1.28 per share, with expected gross proceeds of $3.88 million. The net proceeds will be used for working capital and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 7:20 pm

ARM

BIRK

CART

CAVA

KVUE

KVYO

NDAQ

NXT

Nasdaq, Inc. (NDAQ) is leading over the New York Stock Exchange in IPO listings for the fifth consecutive year, having raised $13.6 billion from IPOs in 2023 compared to NYSE's $10.4 billion. Notable Nasdaq IPOs include Arm Holdings Plc (ARM), Maplebear Inc. (CART), and Nextracker Inc. (NXT). The NYSE attracted Kenvue Inc. (KVUE), Birkenstock Holding PLC (BIRK), CAVA Group, Inc. (CAVA), and Klaviyo, Inc. (KVYO). Nasdaq's competitive listing fees and appeal to tech and global firms are seen as strengths. NDAQ shares rose 0.60% to $57.39.

Portfolio Pulse from Nabaparna Bhattacharya

December 26, 2023 | 6:55 pm

FPI

Raymond James analyst Buck Horne has reiterated an Outperform rating on Farmland Partners Inc (FPI) and increased the price target from $14 to $15. Despite a 10% year-over-year drop in agricultural commodity prices, U.S. farmers are experiencing strong profitability, with 2023 expected to be the third-highest year for farm income in a decade. FPI has repurchased over 11% of its shares year-to-date at $11/share and announced a special dividend of $0.21/share. The company has also completed property dispositions worth $71.1 million this quarter, with a year-to-date total of $122 million. FPI is executing a $190 million capital recycling program to leverage the difference between public valuation and private market value. Lease renewals in 2023 have seen an 18% increase year-to-date. With $163.1 million in available liquidity, FPI is well-positioned to maintain its dividend. The analyst estimates FPI's Net Asset Value/share at $16, indicating a 20% discount on the current share price, with the target price reflecting a 10% discount to NAV. FPI shares are up 1.65% at $12.97.

Portfolio Pulse from Shivani Kumaresan

December 26, 2023 | 6:51 pm