Streetbeat News

Equity Actions

PROK

ProKidney Corp has filed with the SEC for a mixed shelf offering of up to $500 million. This move allows the company to sell various types of securities to the public up to the total value of $500 million, providing flexibility for future financing needs.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:26 pm

BCS

C

SCGLY

WFC

Citigroup Inc (NYSE:C) is planning to launch a direct lending strategy by early January to tap into the $1.6 trillion private credit market. This move is part of a trend among banks like Wells Fargo & Co (NYSE:WFC), Barclays Plc (NYSE:BCS), and Societe Generale SA (OTC:SCGLY), which are expanding into private debt. Citigroup's strategy will offer a range of financing options, including high-yield bonds, leveraged loans, or private credit, to meet the needs of companies and private equity owners, especially in anticipation of a rise in buyout deals.

Portfolio Pulse from Vandana Singh

November 22, 2023 | 2:15 pm

TFC

Truist Finl Inc. (NYSE:TFC) saw a 0.25% drop in its share price to $31.50 in the current market session, despite a 13.91% increase over the past month. However, the stock has fallen 32.12% 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 it may perform worse than its peers.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 2:15 pm

BTI

British American Tobacco (NYSE:BTI) is facing industry changes with strategic adaptations. Despite a 21.36% stock decline YTD, BTI shows resilience with investments in 'new categories' like vaping, which contribute to 26% revenue growth. The company's financials are stable, with equity holdings exceeding long-term debt. Investors are considering if the stock drop is a buying opportunity, reflecting a Warren Buffett-style value investment with a 9% yield.

Portfolio Pulse from Surbhi Jain

November 22, 2023 | 2:10 pm

ATPC

AGAPE ATP Corporation (NASDAQ:ATPC) has announced a share repurchase plan to buy back up to $1 million of its shares over the next 6 months. The repurchases will be conducted in the open market or through private transactions, and will be funded from existing funds. The plan does not obligate ATPC to purchase any specific number of shares and can be adjusted, suspended, or discontinued at any time.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:05 pm

MTSI

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) announced the passing of John Ocampo, Chairman of the Board of Directors. Ocampo was a significant figure in the semiconductor industry, co-founding GaAs Labs and Sirenza Microdevices. His leadership roles and contributions to the industry and charitable causes were highlighted. MACOM's President and CEO, Stephen G. Daly, expressed deep condolences and acknowledged Ocampo's profound impact on the company and the industry.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:03 pm

BA

GE

JPM

MUFG

On CNBC's 'Halftime Report Final Trades,' analysts recommended JPMorgan Chase & Co. (JPM), The Boeing Company (BA), Mitsubishi UFJ Financial Group, Inc. (MUFG), and General Electric Company (GE). JPMorgan may manage up to $10 billion in JPM Coins soon. Boeing was upgraded by Deutsche Bank to Buy with a $270 price target. Mitsubishi UFJ announced a stock repurchase, and GE's GE Vernova signed an MOU with Next Hydrogen Solutions for green hydrogen production. JPM shares fell slightly, BA shares rose, MUFG shares fell, and GE shares also fell slightly in Tuesday's session.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 1:51 pm

BABA

Jack Ma, co-founder of Alibaba Group Holding Limited (NYSE:BABA), has decided not to sell his 10 million shares in the company as the stock price has not reached his target. This decision comes after Alibaba experienced its largest selloff in over a year and scrapped plans to spin off its $11 billion cloud business, leading to a $22 billion loss in market value. Despite challenges, including U.S.-China tech tensions and competition, Ma remains confident in Alibaba's long-term value. The planned share sale was to fund investments in agriculture and charities. Alibaba's stock is down 14.2% YTD but traded up 0.61% premarket.

Portfolio Pulse from Anusuya Lahiri

November 22, 2023 | 1:42 pm

CLPS

CLPS Incorporation has announced a second special cash dividend of $0.10 per share. This declaration follows a previous special dividend and represents a distribution of additional profits to shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 1:31 pm

SOPA

Maxim Group LLC maintains a positive outlook on Society Pass Inc. (NASDAQ:SOPA), citing its low EV/revenue multiple compared to peers, better than expected 3Q 2023 results, and potential for organic growth and M&A. SOPA's 3Q revenue was $2.3M with a narrowed adjusted EBITDA loss of ($2.6M). Maxim highlights SOPA's strong balance sheet with $8.2M in unrestricted cash and a $40M equity line of credit, expecting sufficient funds for growth through 2024.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 1:22 pm