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Equity Actions

MESO

Mesoblast Limited (NASDAQ:MESO) announced a fundraising effort to raise up to A$97.0 million through a placement and entitlement offer. The company plans to issue up to 120 million new shares at A$0.30 each to raise A$36.0 million in a placement, and up to A$61 million through a 1 for 4 pro-rata accelerated non-renounceable entitlement offer to existing shareholders. The offer includes an institutional and a retail component, with a 'top-up' facility for eligible retail shareholders. Approximately 323 million new shares will be issued, increasing the total shares by 39.7%.

Portfolio Pulse from Charles Gross

December 04, 2023 | 9:51 am

ALK

GTLB

JOAN

SAIC

UBER

U.S. stock futures are trading lower on Monday, with key stocks in focus including SAIC expected to report earnings, Alaska Air's acquisition of Hawaiian Holdings, JOANN's expected quarterly loss, Uber joining the S&P 500, and GitLab's upcoming earnings report.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 7:37 am

MSFT

Bill Gates, co-founder of Microsoft (NASDAQ:MSFT), credits his love for reading as a pivotal factor in his transition from technology to philanthropy. On the 'What Now? With Trevor Noah' podcast, Gates shared how reading about global health challenges inspired him to focus on philanthropy after stepping down from Microsoft. The Bill and Melinda Gates Foundation, established in 2000, has since contributed $53.8 billion to combat health crises, reducing the under-five child mortality rate by half.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 7:15 am

ASTI

Ascent Solar Technologies, Inc. is planning to pursue multiple federal funding opportunities with the aim of securing allocations in 2024. The company is looking to capitalize on the current favorable government funding environment to support its growth and development initiatives.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 6:34 am

AFJKU

DOCO

Docola, Inc (NASDAQ:DOCO) and Aimei Health Technology Co (NASDAQ:AFJKU) are set to go public this week with their IPOs. Docola is offering 1,061,000 shares at $6.25 each, while Aimei Health Technology is offering 6,000,000 shares at $10.00 each. Both companies have a 180-day lockup period for insiders.

Portfolio Pulse from Benzinga Insights

December 03, 2023 | 5:17 pm

AAPL

JNJ

PSX

SCHW

UBER

Barron's weekend stock picks include Uber joining the S&P 500, Elliott Management's stake in Phillips 66, Schwab's rebound, Apple's December performance, and UBS's upgrade of Johnson & Johnson. Uber's inclusion in the S&P 500 reflects its recent profitability. Elliott Management's $1 billion stake in Phillips 66 could lead to a 75% stock increase. Schwab's stock rose 12% with a positive outlook from analysts. Apple may see a better December due to high holiday expectations and improved supply. Johnson & Johnson was upgraded to 'Buy' by UBS, with a positive outlook on its businesses.

Portfolio Pulse from Justin Chan

December 02, 2023 | 10:29 pm

ALK

BLDR

JBL

SEDG

SEE

UBER

Uber Technologies, Inc. (NYSE:UBER) is set to join the S&P 500 index, replacing Sealed Air Corp. (NYSE:SEE). Jabil Inc (NYSE:JBL) and Builders FirstSource Inc. (NYSE:BLDR) will also join, replacing Alaska Air Group Inc. (NYSE:ALK) and SolarEdge Technologies Inc. (NASD: SEDG). The changes will take effect on December 18, coinciding with the quarterly rebalance. Uber has shown strong financial performance with four consecutive quarters of positive GAAP earnings and robust growth in stock value. The company reported an Adjusted EBITDA of $1.09 billion in the last quarter and expects Q4 gross bookings of $36.5 to $37.5 billion with an adjusted EBITDA of $1.18 to $1.24 billion. UBER shares closed higher by 1.72% and rose 5.49% after hours.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 9:45 pm

FTCH

JPM

Point72 Asset Management, led by Steven A. Cohen, has acquired a 5.1% stake in Farfetch (NYSE:FTCH), a luxury fashion company. The SEC filing revealed Point72 owns 18,132,807 Class A Ordinary Shares. Farfetch's founder, José Neves, is considering taking the company private with the help of JP Morgan Chase & Co. (NYSE:JPM), controlling 15% of the stake and 77% of the voting rights. Farfetch has postponed its Q3 financial results and guidance, with shares closing higher by 9.4% but trading lower by 0.78% after hours.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 3:57 pm

MSFT

TSLA

This week in politics included Rep. Marjorie Taylor Greene's ageist comments towards President Biden, a gag order upheld against Donald Trump, Home Depot co-founder Ken Langone's political realignment, potential interest from Elon Musk and Bill Gates in purchasing Trump's Mar-a-Lago property, and a televised debate between Governors Gavin Newsom and Ron DeSantis. The article also mentions Tesla Inc. and Microsoft Corporation in relation to their CEOs' potential interest in Mar-a-Lago.

Portfolio Pulse from Benzinga Neuro

December 02, 2023 | 2:26 pm

SPY

November 2023 saw a significant 'Turkey Rally' with the S&P 500 Index, tracked by SPDR S&P 500 ETF Trust (SPY), rising 8.9%. This rally, the 18th-best monthly performance since 1950, was driven by expectations of Federal Reserve interest rate cuts in 2024 due to declining inflation. Historically, December has been positive for the S&P 500, but a strong November may lead to a more subdued 'Santa Claus Rally'. LPL Research's George Smith suggests that despite a potentially quieter December, the strong November performance could indicate a bullish 2024, with historical data showing substantial gains following similar monthly rises and the end of losing streaks.

Portfolio Pulse from Piero Cingari

December 02, 2023 | 2:13 pm