Streetbeat News

Equity Actions

LVS

Options for Las Vegas Sands (LVS) with a strike price of $47, expiring on December 29, are seeing active trading.

Portfolio Pulse from Charles Gross

November 30, 2023 | 2:58 pm

LVS

The article discusses the debate between stock buybacks and dividends, advocating for buybacks. It refutes the claim that buybacks provide only a one-time benefit, arguing that they permanently increase EPS by reducing share count. Dividends, in contrast, can be cut unexpectedly. Buybacks also align management's interests with shareholders, reflect management's confidence in the company's value, and are more tax-efficient than dividends. The article acknowledges the risk of leverage in buybacks but considers it an optional problem. Las Vegas Sands (NYSE:LVS) is mentioned as a company that uses both dividends and buybacks.

Portfolio Pulse from Gary Brode

November 30, 2023 | 2:56 pm

LGF/A

Shareholders of Lions Gate Entertainment Corp. have voted in favor of a proposal for the company to adopt a one-share, one-vote governance structure. Investment firm Neuberger Berman has called on the board to heed the shareholders' decision and adjust the plan of arrangement regarding the company's intended business separation.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:31 pm

DIS

Nelson Peltz is seeking two seats on Disney's board, as reported live on CNBC. Following the news, Disney's shares moved higher.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:26 pm

POET

POET Technologies Inc. has priced its public offering in the United States at $1.4 million, which includes 1.6 million common shares and equal number of warrants at $0.90 per share and warrant. Each warrant is exercisable at $1.12 for five years. Maxim Group LLC is the sole book-running manager for the offering.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:20 pm

BRK.A

KO

Legendary investor Charlie Munger, who passed away on Nov. 28 at the age of 99, once shared a piece of advice that significantly influenced an investor and was also adopted by Warren Buffett. During a dinner with podcaster David Senra, Munger emphasized the importance of aiming for greatness in life and business. Munger's approach included understanding human nature, expecting and preventing problems, and seeking out great businesses and people. His philosophy shaped Berkshire Hathaway's investment strategies, including the decision to invest in Coca-Cola, and contributed to the company's success.

Portfolio Pulse from Chris Katje

November 30, 2023 | 2:10 pm

SB

Safe Bulkers, Inc. (NYSE:SB) has announced a stock repurchase program to buy back up to 5 million shares of its common stock, representing about 4.5% of outstanding shares and 8.1% of its public float. The repurchase program is not obligatory and can be modified or terminated at any time. Purchases will be made on the open market in compliance with laws and regulations, specifically within the safe harbor provisions of Regulation 10b-18. The repurchases will be funded using Safe Bulkers' existing cash resources.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:04 pm

AAOI

Applied Optoelectronics, Inc. (AAOI) plans to offer $80 million in Convertible Senior Notes due 2026, exempt from the Securities Act registration. The Notes will be senior, unsecured, and potentially guaranteed by future subsidiaries. Proceeds will fund repurchases or exchanges of existing 5.00% Convertible Senior Notes due 2024. Market activities related to the 2024 notes may affect the stock and initial conversion price of the new Notes. The offering is for qualified institutional buyers under Rule 144A, and there's no assurance it will be completed.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:55 pm

MSTR

MicroStrategy has filed with the SEC to potentially issue and sell shares of its Class A common stock, with an offering price of up to $750 million.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:54 pm

WB

Weibo's stock is trading lower following the announcement of a $300 million convertible senior notes offering and a proposed offering of ADSs related to the Delta Placement of Borrowed ADSs.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:52 pm