Streetbeat News

Equity Actions

ETN

Eaton Corp (NYSE:ETN) has seen a 10.08% decrease in short interest, with 4.61 million shares sold short, representing 1.16% of available shares. The average time to cover these short positions is 2.91 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Eaton Corp's short interest is below its peer group average of 12.29%.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 2:15 pm

OKE

ONEOK (NYSE:OKE) has seen a decrease in short interest, with the short percent of float dropping 6.67% since the last report. The company has 10.03 million shares sold short, representing 2.1% of available shares for trading. The current short interest suggests it would take about 3.36 days for traders to cover their positions. A decrease in short interest can indicate a more bullish sentiment towards the stock. ONEOK's short interest is below its peer group average of 3.50%.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 2:15 pm

ODP

AREX Capital sent a letter to ODP Corporation's Board of Directors urging them to restart the separation process of Office Depot and to sell Varis. AREX believes these actions will unlock shareholder value and is critical for ODP's future success.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 2:04 pm

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MDGS

Medigus announced that Jeffs' Brands, in which it owns a 34.87% stake, signed a non-binding LOI with Sky Growth Partners to invest in advanced laser-based wireless charging technology for drones and unmanned aircrafts. Jeffs' Brands will hold a 70% equity interest in a new Israeli company (NewCo) after a $2.5M investment. The LOI includes milestones that could grant additional equity to founders without extra cost.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:48 pm

NIO

NIO Inc (NYSE:NIO) shares rose after announcing a $2.2 billion strategic equity investment from CYVN Holdings. CYVN will subscribe for 294 million newly issued Class A shares at $7.50 each, increasing its ownership to approximately 20.1% of NIO. The investment aims to strengthen NIO's balance sheet, brand positioning, sales, service capabilities, and investment in core technologies. The deal is expected to close by the end of December, with CYVN potentially nominating up to two directors to NIO's board.

Portfolio Pulse from Adam Eckert

December 18, 2023 | 1:46 pm

FRTX

Fresh Tracks Therapeutics Inc (NASDAQ:FRTX) shares are experiencing volatility after the company announced it will be delisted from Nasdaq and move to an over-the-counter market. The delisting follows the company's decision to withdraw an appeal for Nasdaq listing in preparation for a planned liquidation and dissolution. A stockholders' meeting is scheduled to vote on the liquidation plan, with a warning that failure to approve could lead to a judicial dissolution, potentially reducing cash distribution to stockholders.

Portfolio Pulse from Henry Khederian

December 18, 2023 | 1:44 pm

ASNS

Actelis Networks has announced a private placement offering of 1,271,187 shares of common stock and associated warrants at $1.18 per share, with expected gross proceeds of approximately $1.5 million. The offering is anticipated to close around December 20, 2023, and the net proceeds are intended for working capital and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:40 pm

NIO

NIO's stock price is on the rise following the announcement of a $2.2 billion strategic equity investment from CYVN.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:39 pm

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BYDDY

KGRN

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NIO

XPEV

NIO Inc (NYSE:NIO) stock rose over 8% in premarket trading after announcing a $2.2 billion strategic investment from CYVN Holdings. The investment will support NIO's expansion and technology collaborations internationally, particularly in Europe. CYVN's investment increases its ownership to approximately 20.1% of NIO's equity. The European Union is scrutinizing Chinese EV imports for potential competition rule violations. NIO is also a significant holding in the KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN), comprising 9.93% of its portfolio.

Portfolio Pulse from Surbhi Jain

December 18, 2023 | 1:33 pm

BBLG

Bone Biologics has announced a 1-for-8 reverse stock split. This corporate action is typically used by companies to boost their stock price by reducing the number of shares outstanding, which can help them meet minimum price requirements for stock exchanges and improve investor perceptions. However, it does not fundamentally change the company's valuation or market capitalization.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:14 pm