Streetbeat News

Equity Actions

WDC

Western Digital Corp (WDC) reported a Q1 FY23 revenue decline of 26% YoY to $2.75 billion, beating the consensus of $2.65 billion. The company's board approved a plan to separate its HDD and Flash businesses. WDC sees Q2 FY23 revenue of $2.85 billion - $3.05 billion, compared to the consensus of $2.92 billion. WDC shares traded higher by 13.20% at $44.11 premarket on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 1:00 pm

ALZN

Alzamend Neuro has announced a reverse stock split, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:49 pm

VYNE

VYNE Therapeutics announced a private placement of $88 million and data from its Phase 1b trial evaluating once-daily dosing of VYN201 in patients with nonsegmental vitiligo. This has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:48 pm

SNBR

Blue Clay Capital, long-term shareholders of Sleep Number Corporation (NASDAQ:SNBR), have sent a letter to the company's board urging them to immediately elect three Stadium Capital board representatives. They cite poor management decisions, ineffective strategic decisions, and a lack of accountability as reasons for Sleep Number's 46% decline since 2015, compared to a 161% gain for Tempur-Pedic and 125% gain for the S&P 500. They also express concerns about misallocation of capital and resources, untimely stock repurchases, and excessive executive compensation.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:47 pm

CNDT

Conduent Incorporated (NASDAQ:CNDT) has announced Conduent CXNow, a digital Customer Experience-as-a-Service offering for commercial and government clients. The solution, designed for mid- to large-sized businesses and government agencies, leverages artificial intelligence to provide chatbots, sentiment analysis, and predictive engagement. The cloud-based solution is flexible and scalable, aiming to meet the needs of a broad range of industries.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:44 pm

VRDN

Viridian Therapeutics has appointed Stephen Mahoney as its new CEO and announced a $185M private placement financing. The company also unveiled its next-generation FcRn inhibitor programs for autoimmune diseases. Viridian's pipeline includes IGF-1R inhibitors for thyroid eye disease (TED) and FcRn inhibitors. The company expects to select its lead subcutaneous IGF-1R program by the end of 2023 and topline results from the first THRIVE Phase 3 clinical trial for intravenous VRDN-001 for active TED in mid-2024. The financing will extend the company's operating runway into 2026.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:38 pm

AFCG

AFC Gamma has announced the appointment of Daniel Neville as its new CEO, effective from November 13, 2023. He will succeed Leonard Tannenbaum, who will transition to the role of Chief Investment Officer. Neville brings extensive operational experience and deep knowledge of the cannabis industry.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:34 pm

SKIN

The Beauty Health Company (NASDAQ:SKIN), home to Hydrafacial, has launched its first direct-to-consumer sales channel on Chinese e-commerce platform Tmall. This move allows consumers to purchase Hydrafacial treatment packages directly from the brand and redeem them at select verified providers. The company has experienced encouraging growth in China, and this new sales channel aims to make the brand more accessible. BeautyHealth grew +265% YoY in China in Q2 2023.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:24 pm

MSFT

MSTR

SQ

In October 2020, MicroStrategy's CEO, Michael Saylor, praised Square's (now Block Inc) $50 million investment in Bitcoin. Since then, MicroStrategy's and Square's stock performances have diverged significantly. As of October 27, 2023, Microsoft's stock price increased by 52.05%, while Square's fell by 78.99%. The correlation between the two stocks is low, suggesting their performances do not influence each other.

Portfolio Pulse from Mehab Qureshi

October 30, 2023 | 12:22 pm

ALZN

Alzamend Neuro's board of directors has approved a 1-for-15 reverse stock split of the company's common stock, which will be effective on October 31.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:20 pm