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Equity Actions

BRBS

Blue Ridge Bankshares has entered into definitive securities purchase agreements to issue $150M of its common stock. This capital raise could support the bank's growth initiatives or strengthen its balance sheet.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:36 pm

AAPL

AMZN

BA

BRK.A

DIS

GM

MSFT

NKE

TSLA

Cryptocurrencies like Dogecoin, SHIB, and Solana are experiencing significant market movements. Tesla is recalling 120,000 Model S and X EVs due to door issues. Nike and NetEase stocks moved lower in pre-market trading. US markets are optimistic with Dow jumping over 300 points. US and world politics are active with developments in US-China relations and Trump's potential 2024 run. The US economy sees criticism from Peter Schiff regarding Q3 GDP. In tech, Apple and Microsoft face challenges, while Tencent is hit by new regulations. The EV sector is highlighted by Tesla's recall and bullish predictions. GM recalls Chevrolet Bolt EVs. Amazon and Disney face challenges in communication, while Boeing resumes 787 deliveries to China. US banks may face significant losses in real estate, and Berkshire Hathaway increases its stake in Occidental Petroleum.

Portfolio Pulse from Akanksha Bakshi

December 22, 2023 | 1:35 pm

OCAX

Powermers Smart Industries, Inc. (PSI) is set to go public through a business combination with OCA Acquisition Corp. (OCAX). The transaction is expected to close in 2024, with the combined company to be listed on Nasdaq under the symbol PSII. PSI focuses on green-powered technology solutions for the commercial transportation and industrial equipment industries. The business model includes partnerships across the value chain, offering green equipment technology solutions and services. The pro forma equity value of the combined entity is estimated at $2 billion, with all PSI stockholders rolling their equity into the new company. The deal includes investments of up to $8 million in convertible promissory notes and an additional $2 million PIPE investment from OCAX's sponsor.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:34 pm

LIDR

The board of AEye has approved a 1-for-30 reverse stock split, which is expected to become effective on December 26 at 5:00 p.m. ET. This corporate action is typically undertaken by companies aiming to boost their stock price by reducing the number of shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:34 pm

HPE

Hewlett Packard Enterprise Co (HPE) has filed for a mixed shelf offering according to a recent SEC filing. The size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:33 pm

BRBS

Blue Ridge Bankshares has entered into definitive securities purchase agreements to issue $15M of its common stock. The capital raised is intended to reposition business lines, support organic growth, and enhance the capital levels of the core community bank.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:32 pm

PROP

Prairie Operating Co. (OTCQB: PROP) has received approval to list its common stock on the Nasdaq Capital Market, with trading expected to start on December 28, 2023. The uplisting is seen as a way to increase visibility among institutional investors and improve stock liquidity. The ticker symbol will remain 'PROP', and no action is required from shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:05 pm

LITE

Lumentum Holdings (NASDAQ:LITE) has received mixed analyst ratings over the past three months, with no changes in the last 30 days. The average 12-month price target is now $49.81, down from $52.57, with a high estimate of $55.00 and a low of $45.00. Analysts from firms including Needham, Susquehanna, Raymond James, Rosenblatt, Morgan Stanley, and B of A Securities have adjusted their price targets and ratings, reflecting changes in market dynamics and company performance. Lumentum Holdings, a provider of optical and photonic products, has seen a -37.33% decline in revenue growth and faces challenges with market capitalization, net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 1:00 pm

VRSK

Verisk Analytics (NYSE:VRSK) has seen a decrease in short interest, with the short percent of float dropping 3.29% since the last report. The company has 2.98 million shares sold short, representing 2.35% of available shares. The average time to cover these short positions is 3.76 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Verisk Analytics has a lower short interest compared to its peer group average of 2.95%.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 1:00 pm

RMD

ResMed (NYSE:RMD) has seen a decrease in short interest, with the current level at 5.85 million shares or 4.54% of float, down 7.16% from the last report. It would take about 5.67 days to cover all short positions. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise. ResMed's short interest is higher than its peer group average of 3.38%.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 1:00 pm