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BBWI

OLLI

TGT

Goldman Sachs analyst Kate McShane has identified Target Corporation (TGT), Ollie's Bargain Outlet Holdings (OLLI), and Bath & Body Works Inc (BBWI) as top retail stock picks for 2024. McShane is bullish on the retail sector due to improving margins, a strong labor market, and healthier consumer finances. Target is seen as having long-term growth potential with market share gains and improved operating margins. Ollie's is favored for its favorable closeout environment and growing scale, while Bath & Body Works is expected to return to positive sales growth in the second half of 2024 and could benefit from share buybacks.

Portfolio Pulse from Chris Katje

December 14, 2023 | 2:55 pm

ASLE

AerSale's stock price has declined following the announcement of a secondary offering of 4 million shares. This offering could dilute existing shareholders' equity and potentially put downward pressure on the stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:52 pm

TPIC

TPI Composites, Inc. has improved its liquidity by approximately $190 million and reduced future obligations by up to $90 million through a refinancing transaction with Oaktree Capital Management. The agreement involves converting Oaktree's $436 million Series A Preferred Stock into a $393 million senior secured term loan and $43 million in common equity. The term loan's maturity is extended to March 31, 2027, and the company has the option to pay interest in kind until December 31, 2025. The transaction eliminates certain financial covenants and prepayment penalties, enhancing TPI's financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:24 pm

EAF

GrafTech International Ltd. (NYSE:EAF) announced that Brookfield Business Partners LP and its affiliates distributed all 63.8 million of their shares of GrafTech common stock to a consortium of investors. This distribution increased GrafTech's public float from approximately 75% to 88% and reduced Brookfield's ownership to about 12%. Consequently, Denis A. Turcotte, a Brookfield designated director, resigned from GrafTech's Board of Directors effective December 14, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:21 pm

FWBI

First Wave BioPharma has announced a 1-for-20 reverse stock split, approved by its Board of Directors, to take effect soon. This action is typically aimed at boosting the stock's market price and ensuring compliance with minimum bid price requirements for continued listing on stock exchanges.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:19 pm

INPX

Inpixon (NASDAQ:INPX) has set December 27th, 2023 as the record date for the distribution of Grafiti Holding Inc. shares to eligible securityholders, in preparation for a spin-off and subsequent business combination with Damon Motors, maker of the HyperSport electric motorcycle. The combined company will be listed on Nasdaq, subject to approval. The spin-off shares will be held in a liquidating trust until a registration statement is effective, with 80% subject to lock-up post-business combination. Inpixon will retain its IIOT business and pursue a combination with XTI Aircraft Company.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:18 pm

FCCO

First Community Corporation (FCCO) announced leadership changes at First Community Bank. J. Ted Nissen will become CEO of the bank while retaining his role as President and join the Board of Directors on July 1, 2024. Joseph A. 'Drew' Painter and Vaughan R. Dozier, Jr. will become Executive Vice Presidents as Co-Chief Commercial and Retail Banking Officers starting January 1, 2024. Michael C. 'Mike' Crapps remains President and CEO of First Community Corporation, focusing on governance and growth strategies.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:16 pm

SGD

Safe and Green Development Corporation (NASDAQ:SGD), also known as SG Devco, has announced progress on the Lago Vista property development. MNO Partners has deposited earnest money and begun preliminary work as per a contribution agreement. SG Devco's subsidiary acquired the property for $3.5 million in 2021 and will contribute it to a joint venture with MNO Partners, receiving a membership interest valued at $11.5 million. MNO Partners will lead the development and is expected to secure construction financing as a closing condition of the JV.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:11 pm

MXF

The Mexico Fund, Inc. (MXF) has increased its quarterly distribution from $0.20 to $0.22 per share, a 10% hike. This increase corresponds to a 5% annualized distribution rate based on the market price as of November 30, 2023. The distribution is payable on January 25, 2024, to shareholders of record on January 17, 2024. The Fund's Managed Distribution Plan (MDP) will continue through 2024, with the Board retaining the right to amend or terminate the MDP. Since September 2008, MXF has distributed a total of $26.16 per share. The January 2024 distribution is estimated to be sourced from net investment income (56.81%), net realized short-term capital gains (7.63%), net realized long-term capital gains (30.53%), and return of capital (5.03%).

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:09 pm

IPDN

Professional Diversity Network, Inc. (IPDN) has entered into a stock purchase agreement with Cosmic Forward Limited for the sale of 122,670 shares at a discounted price of $1.63 per share, resulting in gross proceeds of $200,000, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:05 pm