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Equity Actions

ARVN

Arvinas Inc (NASDAQ:ARVN) shares rose 11.2% after announcing a $350 million private placement of common stock and pre-funded warrants. The funds will support clinical programs, preclinical pipeline, and general operations. The placement, co-led by EcoR1 Capital and RTW Investments, LP, is set to close on November 28. BofA Securities, Inc. and Goldman Sachs & Co. LLC were the joint lead placement agents.

Portfolio Pulse from Henry Khederian

November 27, 2023 | 3:47 pm

ING

ING Groep Inc. (NYSE:ING) stock is currently trading at $13.91, down 0.22% for the session, but has seen an 8.48% increase over the past month and a 15.98% rise over the past year. The company's P/E ratio is lower than the Banks industry average, which could indicate that the stock is undervalued or that shareholders have lower growth expectations.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 3:45 pm

ASST

Asset Entities Inc. (NASDAQ:ASST) stock surged 43% to $0.50 after announcing a stock repurchase program for up to 1.25 million shares of Class B common stock. The program, which aims to maximize shareholder value, is approved by the Board of Directors and will expire on November 21, 2024. CEO Arshia Sarkhani expressed confidence in the company's future, with repurchases funded from existing cash reserves. The company has the flexibility to suspend or terminate the program. ASST has a 52-week trading range between $27.85 and $54.60, with 5,639,134 Class B shares outstanding.

Portfolio Pulse from Henry Khederian

November 27, 2023 | 3:31 pm

ARVN

Arvinas, Inc. stock (ARVN) is trading higher following the announcement of a successful $350 million private placement, which was oversubscribed.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 3:17 pm

MDB

MongoDB (NYSE:MDB) has seen a 16.28% increase in short interest since its last report, with 3.67 million shares sold short, representing 6.0% of its float. It would take about 3.72 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. MongoDB's short interest is higher than its peer group average of 5.46%.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 3:15 pm

KKR

KKR & Co. (NYSE:KKR) has acquired Potter Global Technologies, a manufacturer of fire and life safety equipment. The financial terms of the deal were not disclosed. Potter, based in St. Louis, Missouri, serves various markets including education and healthcare. KKR plans to implement an employee ownership program at Potter, allowing all employees to benefit from ownership. As of September 30, 2023, KKR reported a book value per adjusted share of $29.68 and had $28 billion in cash and investments. The acquisition is part of KKR's Ascendant Strategy to invest in North American mid-market companies. KKR shares saw a slight decline of 0.59% to $68.79 following the announcement.

Portfolio Pulse from Akanksha Bakshi

November 27, 2023 | 2:50 pm

ASST

Asset Entities shares have risen following the announcement of a stock repurchase program, indicating the company's confidence in its own stock and a potential reduction in share supply.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 2:50 pm

GDC

LIZI

MOMO

SJ

TEO

Benzinga Insights has identified five value stocks in the communication services sector based on their low P/E ratios, suggesting they may be undervalued. The stocks are GD Culture Group (GDC), Lizhi (LIZI), Scienjoy Holding (SJ), Telecom Argentina (TEO), and Hello Gr (MOMO). The article provides recent earnings per share (EPS) data, indicating mixed performance with some companies experiencing decreases in EPS while others have seen increases.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 2:44 pm

NOW

ServiceNow (NYSE:NOW) has seen a 7.44% increase in short interest since its last report, with 2.66 million shares sold short, representing 1.3% of available shares. The short interest is below the peer group average of 5.00%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 2:30 pm

PERF

Perfect Corp (NASDAQ:PERF) shares surged after announcing a tender offer to purchase up to 16.13 million shares at $3.10 each, above the current share price, with a maximum aggregate purchase price of $50 million. The company will use its cash and equivalents to fund the offer. Shareholders can indicate the number of shares they wish to tender, subject to proration if oversubscribed. Perfect Corp specializes in augmented reality and AI SaaS solutions for the beauty and fashion industries.

Portfolio Pulse from Adam Eckert

November 27, 2023 | 2:22 pm