Streetbeat News

Equity Actions

ADI

Analog Devices (NYSE:ADI) has seen a 13.01% decrease in short interest since its last report, with 6.29 million shares sold short, representing 1.27% of its float. The average time to cover these short positions is 1.86 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. ADI's short interest is below its peer group average of 3.66%.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 1:15 pm

GROM

Grom Social Enterprises, Inc. has signed an $8M convertible notes financing agreement with an institutional investor. The deal includes the sale of two convertible promissory notes, each worth $4M, and the issuance of warrants for over 3 million shares. Shareholder approval is required, with closings contingent on this and SEC registration effectiveness. The funds will be used for general working capital and administrative purposes. EF Hutton is the exclusive placement agent for the transaction.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 1:02 pm

EWG

INTC

A German court ruling may lead to Intel losing billions of euros in subsidies for a planned semiconductor factory in Germany. The decision could have significant implications for the company's expansion plans in Europe and its ability to compete globally.

Portfolio Pulse from Charles Gross

November 22, 2023 | 12:37 pm

DCBO

Docebo Inc. has announced that its board has approved a substantial issuer bid to repurchase up to $100 million of its outstanding common shares at $55.00 per share. Intercap Equity, holding approximately 43% of Docebo's common shares, intends to participate in the offer to maintain around a 40% ownership stake.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 12:31 pm

Blackstone Group Inc. (NYSE:BX) is close to finalizing a $2.5 billion deal to acquire Civica, a U.K.-based software developer. The acquisition includes Civica's debt and is part of Blackstone's strategic expansion in Europe, following other U.K. investments. Civica, currently owned by Partners Group, was acquired in 2017 for approximately $1.4 billion. The company provides software services to public agencies and generates recurring revenue, fitting Blackstone's investment strategy of focusing on high-growth, stable cash flow businesses.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 9:28 am

GOTU

Gaotu Techedu's board has increased the limit of its share buyback program from $30 million to $80 million, with the program effective until November 22, 2025.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 9:18 am

ARKK

Economist Mohamed El-Erian advocates for a fresh approach to growth, emphasizing deregulation and investment in 'growth areas of tomorrow' such as green energy, life sciences, and generative AI. He criticizes current fiscal policies for looking backward rather than forward. Cathie Wood of Ark Investment Management echoes the sentiment, focusing on disruptive innovations like AI, robotics, and energy storage. ARKK, Wood's flagship ETF, recently saw a decline in its share price.

Portfolio Pulse from Shanthi Rexaline

November 22, 2023 | 7:44 am

BOTZ

IWO

MEME

ETFs tracking meme stocks, such as the Roundhill MEME ETF (MEME), the Robotics & AI ETF (BOTZ), and iShares Russell 2000 Growth (IWO), have experienced significant gains, outperforming the S&P 500 over the past five trading days. DataTrek Research highlights this trend as a sign of investors' 'animal spirits' running hot again, with these ETFs showing better average returns than the S&P not only in the past week but also over the last month and year-to-date. The resurgence of interest in meme stocks is seen as part of a broader bullish market condition, with predictions that the November stock rally could continue through year-end.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 4:02 am

BRK.B

Warren Buffett, Chairman of Berkshire Hathaway Inc., has donated approximately $866 million in company stock to four family charities. The donation includes 1.5 million Class B shares to the Susan Thompson Buffett Foundation and 900,000 Class B shares divided among charities led by his children. Buffett, aged 93, reaffirmed his commitment to philanthropy and intends to give away over 99% of his wealth to charitable causes. Since 2006, he has donated about $52 billion in Berkshire stock to various charities.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 2:54 am

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AYRWF

CRLBF

CURLF

GDNSF

GTBIF

JUSHF

VEXTF

VRNOF

Zuanic & Associates' report predicts significant EBITDA growth and market cap increases for cannabis companies in key U.S. states moving towards legal recreational cannabis sales by 2025. The report highlights potential EBITDA upside for market leaders like Curaleaf, Green Thumb, Verano, and Trulieve, and substantial market cap gains for emerging players such as Cannabist and Jushi Holdings. Established operators like Acreage Holdings, Ayr Wellness, Cresco Labs, Ascend Wellness, and Green Thumb are also expected to see market cap increases. Goodness Growth Holdings is noted for its potential in Minnesota. A repeal of Tax Rule 280E could further benefit the sector by reducing effective tax rates.

Portfolio Pulse from Nicolás Jose Rodriguez

November 21, 2023 | 11:57 pm