Streetbeat News

Equity Actions

JPM

JP Morgan's Marko Kolanovic recommends preferring cash over stocks in 2024 due to the improbability of swift Federal Reserve interest rate cuts. Kolanovic cites high equity valuations, tight credit spreads, and low market volatility as indicators of a non-conducive investment environment for stocks. Despite 2023's bullish market, he predicts minimal or negative stock gains in 2024, with potential economic downturns and less frequent rate cuts than expected. JP Morgan forecasts an 8% drop in the S&P 500 for next year.

Portfolio Pulse from Benzinga Neuro

December 21, 2023 | 1:37 am

ANNX

Annexon, Inc. has announced the pricing of its underwritten public offering, which includes 25,035,000 shares of common stock and pre-funded warrants to purchase 18,379,861 shares. The common stock is priced at $2.88 per share, while the pre-funded warrants are priced at $2.879 per share, raising a total of $125 million.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 10:29 pm

INSW

International Seaways (INSW) may offer and sell common shares up to an aggregate offering price of $100 million from time to time, according to a recent 424B5 filing.

Portfolio Pulse from Charles Gross

December 20, 2023 | 10:22 pm

INPX

Inpixon has filed for an offering to raise $10 million through the sale of shares of common stock, as indicated in their S-1 filing. This move could potentially dilute the value of existing shares but also provide the company with additional capital for operations, investment, and growth.

Portfolio Pulse from Charles Gross

December 20, 2023 | 10:21 pm

ARKK

ARKW

COIN

Coinbase Global Inc. (NASDAQ:COIN) has seen its shares surge by over 381% in 2023, outperforming Bitcoin's 161% and Ethereum's 81% gains. ARK Invest, led by Cathie Wood, sold 34,261 COIN shares from its ARKK and ARKW ETFs. Coinbase co-founder Fred Ehrsam also sold 97,836 shares. Despite legal challenges with the SEC, Coinbase reported a 14% revenue increase in Q3 and is expanding globally, including PayPal integration in Germany and the U.K.

Portfolio Pulse from Khyathi Dalal

December 20, 2023 | 10:16 pm

AAT

American Assets Trust has filed an S-3ASR form, indicating its intention to offer mixed securities. The size and details of the offering have not been disclosed. This move could potentially dilute current shareholders but also provide the company with capital for growth, debt management, or other corporate purposes.

Portfolio Pulse from Charles Gross

December 20, 2023 | 10:03 pm

AZO

AutoZone's Board of Directors has authorized an additional $2 billion for the repurchase of its common stock, bringing the total authorized amount since 1998 to $37.7 billion.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 10:01 pm

NSC

Norfolk Southern Corporation has filed for a mixed shelf offering, although the size of the offering has not been disclosed. This filing allows the company to issue various types of securities over time.

Portfolio Pulse from Charles Gross

December 20, 2023 | 9:59 pm

IPHA

Innate Pharma has filed an F-3 form with the SEC, indicating its intention to offer and sell up to $200 million worth of stock in shelf offerings. This move allows the company to sell shares over time, providing flexibility in financing its operations or growth initiatives.

Portfolio Pulse from Charles Gross

December 20, 2023 | 9:51 pm

FEAM

5E Advanced Materials has filed an S-1 form with the SEC, indicating its intention to offer up to $50 million in stock through a shelf registration. This move allows the company to sell shares in one or more offerings at a future date.

Portfolio Pulse from Charles Gross

December 20, 2023 | 9:44 pm