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Equity Actions

SGD

Safe and Green Development Corporation (NASDAQ:SGD), also known as SG Devco, has entered into a contribution agreement with MNO Partners to form a joint venture for developing the Lago Vista property. The project, estimated to cost around $80 million, will include luxury condos and a marina. SG Devco's subsidiary originally bought the property for $3.5 million and will now contribute it to the JV, receiving a membership interest valued at $11.5 million. MNO Partners will lead the development and secure construction financing as a condition for closing the JV.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 3:02 pm

UBER

Uber Technologies Inc (NYSE:UBER) stock is experiencing an increase after being added to the S&P 500 Index, replacing Sealed Air Corp. This inclusion often leads to a rise in stock price as index-tracking funds must purchase shares. Uber's recent financial performance, with $221 million in net income and earnings of 10 cents per share for the last quarter, and over $1 billion in profits over the past four quarters, met the criteria for S&P 500 inclusion. Analysts are favorable towards Uber, with 26 Buy and eight Overweight ratings and an average price target of $57.74. Uber's stock has risen over 145% since the beginning of the year and was trading up 5.58% at $60.56.

Portfolio Pulse from Adam Eckert

December 04, 2023 | 2:57 pm

EXC

Exelon Inc. (NASDAQ:EXC) has seen a 0.26% decrease in its stock price in the current session, trading at $38.89. Over the past month and year, the stock has fallen by 2.57% and 9.68%, respectively. Exelon's P/E ratio of 18.13 is lower than the Electric Utilities industry average of 22.23, which could suggest the stock is undervalued or expected to underperform. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 2:45 pm

ARCT

CCRN

PRE

SPRO

ZYME

The article identifies five value stocks in the healthcare sector based on their low price-to-earnings (P/E) multiples, suggesting they may be undervalued. The stocks mentioned are Cross Country Healthcare (CCRN), Prenetics Global (PRE), Spero Therapeutics (SPRO), Arcturus Therapeutics (ARCT), and Zymeworks (ZYME). The article also provides recent changes in earnings per share for these companies and notes the risks associated with investing in value stocks.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 2:44 pm

DDC

DayDayCook has announced a new share repurchase program under Rule 10b-18, authorizing the repurchase of up to 500,000 Class A shares. This move could indicate the company's confidence in its own stock and a potential undervaluation, signaling to investors a possible buyback-driven price increase.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:31 pm

SSNT

SilverSun Technologies' stock price is on the rise following the announcement that Jacobs Private Equity II and minority co-investors will invest $1 billion in the company.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:20 pm

MCOM

Micromobility.com Inc. (NASDAQ:MCOM) CEO Salvatore Palella addresses shareholders, outlining strategic initiatives for profitability and market expansion. The company is pivoting to branded retail and profitable sharing services, with significant cost reductions in Q2. They are introducing Long-Term Rentals (LTR) in key cities and integrating fintech payment solutions, with plans to expand retail outlets in various U.S. cities. MCOM is negotiating a loan leveraging IP and pursuing M&A activities, focusing on profitable growth. The CEO acknowledges past challenges, particularly in the media business segment, and emphasizes a commitment to financial sustainability and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:17 pm

HPP

Hudson Pacific Properties, Inc. (HPP) has sold a land parcel in Silicon Valley and parts of a loan secured by its Hollywood Media Portfolio for $189.3 million. The proceeds were used to repay debt on its unsecured revolving credit facility, strengthening the company's balance sheet and improving covenant compliance with minimal impact to FFO.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:10 pm

DBGI

Digital Brands Group, Inc. (DBGI) has announced the conversion of all remaining pre-funded warrants from their August 2023 financing into common shares. This move eliminates the overhang of shares and is expected to positively impact the company's stock. The conversion has resulted in a total of 857,859 common shares outstanding. CEO Hil Davis believes this will aid in executing their growth strategy and maintaining Nasdaq listing standards. The company anticipates being ebitda neutral in Q1 due to increasing revenue trends and decreasing operating expenses.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:10 pm

UCAR

U Power Limited (NASDAQ:UCAR), an EV battery power solution provider in China, has announced the pricing of a follow-on offering of 10 million units at $1.20 each. The offering includes ordinary shares and Series A and B warrants exercisable at $1.20 and $1.54 respectively, expiring in five years. The expected closing date is December 6, 2023, with anticipated gross proceeds of $12 million, to be used for M&A of battery swapping companies, working capital, and general corporate purposes. Univest Securities, LLC is the placement agent, with Hunter Taubman Fischer & Li LLC and Ortoli Rosenstadt LLP as U.S. securities and counsel respectively.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:04 pm