Streetbeat News

Equity Actions

AAPL

Investor Business Daily's SwingTrader has reportedly sold shares of Apple (AAPL), which may indicate a shift in their trading strategy or response to market conditions.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 2:58 pm

CLF

Cleveland-Cliffs, Inc. (NYSE:CLF) stock is trading higher after the company commented on the proposed acquisition of U.S. Steel by Nippon Steel. CEO Lourenco Goncalves highlighted U.S. Steel's undervaluation and synergy potential with Cleveland-Cliffs, expressing that the sector is undervalued and a re-rating for Cleveland-Cliffs is overdue. The company has reached its net debt target and plans to prioritize aggressive share buybacks. CLF shares have risen 19% over the past month and are up 8.8% at $20.34.

Portfolio Pulse from Erica Kollmann

December 18, 2023 | 2:57 pm

YQ

17 Education & Technology Group Inc (NASDAQ:YQ) stock is trading lower at $1.56 after announcing a change in the ratio of its ADSs to Class A ordinary shares from 1:10 to 1:50, effectively a one-for-five reverse ADS split. Fractional ADSs will not be issued; instead, they will be sold and proceeds distributed to holders.

Portfolio Pulse from Henry Khederian

December 18, 2023 | 2:46 pm

VVPR

VivoPower International PLC's Executive Chairman and CEO, Kevin Chin, is set to increase his shareholding in the company by 125,000 shares, which is about 4% of the company's undiluted shares. This increase comes as a result of Chin opting to receive his CEO salary in the form of VivoPower shares since July 1, 2023, a decision approved by the Remuneration Committee. The share issuance is contingent on the directors being granted authority to allot shares by shareholders at the 2023 Annual General Meeting.

Portfolio Pulse from Happy Mohamed

December 18, 2023 | 2:35 pm

CLF

X

Cleveland-Cliffs' CEO Lourenco Goncalves commented on the proposed acquisition of U.S. Steel by Nippon Steel, expressing that U.S. Steel's decision validates Cleveland-Cliffs' view of the undervaluation in the steel sector. Goncalves highlighted Cleveland-Cliffs' achievement of its net debt target and announced a shift in capital allocation towards more aggressive share buybacks.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 2:27 pm

COSM

Cosmos Health Inc. CEO, Mr Greg Siokas, plans to buy up to $3M of COSM common shares in the open market by the end of 2024. He has already invested $1M in 2023 and over $15M since inception. Siokas believes the stock is undervalued and sees current prices as an opportunity to increase his stake, especially with the company's growth prospects, R&D initiatives, and potential spinoff of its R&D department.

Portfolio Pulse from Happy Mohamed

December 18, 2023 | 2:19 pm

GSK

GSK (NYSE:GSK) has seen a 22.22% decrease in short interest since the last report, with 2.77 million shares sold short, representing 0.14% of available shares. The average time to cover these short positions is 1.02 days. Short interest is a market sentiment indicator, and GSK's short interest is below its peer group average of 4.38%. This decline in short interest does not necessarily predict a rise in GSK's stock price.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 2:15 pm

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