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Equity Actions

MPC

Marathon Petroleum (NYSE:MPC) has seen a 5.75% rise in short interest since the last report, with 10.47 million shares sold short, representing 2.76% of available shares. It would take about 3.67 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Compared to its peers, MPC has a lower short interest as a percentage of float (2.76% vs. peer average of 8.47%).

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 1:15 pm

GENE

Genetic Technologies announced a share consolidation of 1 for 100 and a change in the ADS ratio from 1 ADS representing 600 shares to 1 ADS representing 30 shares. The effective date is December 14, 2023. Shares will trade on the ASX as 'GTGDA' from December 14 to 22, 2023, and revert to 'GTG' from December 27, 2023. ADSs will continue trading on the Nasdaq under 'GENE'.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:13 pm

PAYO

The Board of Payoneer Global has approved an amendment to its share repurchase program, increasing the authorized amount for share repurchases to a total of $250 million.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:09 pm

AIMD

Ainos, Inc. (NASDAQ: AIMD) has announced a 1-for-5 reverse stock split effective December 14, 2023. The reverse split will reduce the number of outstanding shares to approximately 4,677,898. The ticker AIMD will remain the same, and no fractional shares will be issued, with holders being paid out in cash for fractional portions. Adjustments will be made to outstanding options and warrants.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:03 pm

ADV

Advantage Solutions is restructuring its international businesses to reduce complexities and expenses, simplify financial reporting, and eliminate losses in some Asian businesses. The company also plans to trade a minority interest in a foreign business for shares of Advantage stock.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:02 pm

CBUS

Cibus, Inc. (NASDAQ:CBUS) has announced a registered direct offering of 2,106,723 shares of Class A Common Stock and Pre-Funded Warrants for 50,000 shares at $9.00 per share, with an exception for an executive officer who will purchase at $10.58 per share. The Pre-Funded Warrants are sold at $10.57 with an exercise price of $0.01 per share. The gross proceeds are expected to be approximately $20.3 million, which will fund the development of seed traits, Trait Machine maintenance, R&D, and general corporate purposes. The offering is set to close around December 14, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:32 pm

ABL

Abacus Life, a company that may be referred to as ABL in the article, has announced a stock repurchase program of up to $15 million. This program reflects the company's confidence in its own stock and is typically seen as a positive signal to the market, as it can indicate that the company believes its stock is undervalued. The repurchase program may lead to a reduction in the number of shares outstanding, potentially increasing earnings per share and the stock's value for remaining shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:30 pm

BMY

SystImmune and Bristol Myers Squibb have entered into a collaboration agreement for the development of BL-B01D1. Bristol Myers Squibb will pay SystImmune an $800M upfront fee and up to $500M in near-term contingent payments. Additionally, SystImmune could receive up to $7.1B based on future milestones.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:23 pm

BRK-A

BRK-B

DELL

HPQ

Warren Buffett's Berkshire Hathaway has reduced its stake in HP Inc by nearly half, from 97.85 million shares to 51.5 million shares. HP's shares have underperformed compared to Dell Technologies, with a year-to-date gain of 13.5% versus Dell's 72%. HP reported a Q4 net revenue decline of 6.5% year-over-year but beat the consensus revenue estimate. HP's stock is trading lower by 0.36% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 12:22 pm

LQDA

Liquidia has priced its public offering of 3.49 million shares at $7.16 per share, aiming to raise total gross proceeds of $25 million. The offering is anticipated to close on December 14, 2023, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:17 pm