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Equity Actions

CVGI

Commercial Vehicle Group (CVG) has announced the appointment of James Ray as its new President and CEO, effective December 20, 2023. He will succeed Robert Griffin, who has been serving as Interim CEO and will remain as Chairman of the Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:07 pm

PH

Parker Hannifin (NYSE:PH) received 5 bullish analyst ratings in the last quarter with no bearish or neutral ratings. The average price target is $484.2, representing an upside from the current price of $438.63. This target has increased by 7.96% from the previous target of $448.50. Analysts typically review stocks quarterly or after major company updates, considering financials, meetings, and insider information.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 12:00 pm

NOTE

FiscalNote Holdings, Inc. has formed a strategic commercial partnership with EGT-East, LLC, an affiliate of Era Global Technologies, LLC. This partnership includes Era's investment of up to $7.5 million in FiscalNote for subordinated convertible notes due 2027 and the issuance of up to $3.75 million in FiscalNote's class A common stock to Era by June 2024. Era's Era Catalyst platform will support distribution and sales acceleration for FiscalNote's AI Co-pilot program, aiming to drive AI innovation and growth for FiscalNote in the legal and regulatory sectors.

Portfolio Pulse from Charles Gross

December 11, 2023 | 11:59 am

MFC

Manulife Financial has agreed to reinsure C$13 billion of reserves, including C$6B of long-term care reserves, to Global Atlantic and its partners. This deal is expected to release $1.2 billion of capital for Manulife, which they plan to return to shareholders through share buybacks.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:54 am

STN

Stantec has announced the renewal of its Normal Course Issuer Bid (NCIB) and an Automatic Share Purchase Plan (ASPP). The NCIB allows Stantec to repurchase its shares as a way to return value to shareholders. The ASPP is a mechanism that enables the company to continue purchasing its shares during self-imposed blackout periods, ensuring compliance with securities regulations.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:53 am

BODY

The Beachbody Company has entered into an agreement with institutional investors for a registered direct offering of 543,590 shares at $9.75 per share, aiming to raise approximately $5.30 million.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:52 am

KTB

Kontoor Brands has announced a new share repurchase program of up to $300 million, replacing the previous program from August 5, 2021. The company plans to fund the buybacks through operational cash flow.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:51 am

NAK

Northern Dynasty Minerals has announced a $15M convertible notes offering and a private placement of up to C$3.4M. The funds raised will likely be used to finance the company's operations and projects.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:50 am

VAPO

Vapotherm has notified the NYSE of its intention to voluntarily delist its common stock. The company is seeking to transfer its shares to the OTCQX, a trading platform for over-the-counter stocks.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:48 am

LCID

Lucid Group, Inc. (NASDAQ:LCID) shares are declining in premarket trading after an announcement that Lucid will be removed from the Nasdaq 100 Index. The removal is due to the annual reconstitution of the index, which considers factors like market capitalization and trading volume. Lucid has faced challenges with production and deliveries, leading to a significant drop in its stock price from post-IPO highs. The removal from the index could lead to further selling pressure as index-tracking funds may divest from the stock. In premarket trading, LCID's stock fell 6.43% to $4.43.

Portfolio Pulse from Shanthi Rexaline

December 11, 2023 | 11:45 am