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SONN

Sonnet BioTherapeutics has announced the pricing of a $4.55 million underwritten public offering, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:59 pm

IDYA

IDEAYA Biosciences Inc (NASDAQ:IDYA) shares fell by 11.6% after the company priced an underwritten public offering of common stock and pre-funded warrants. The company is selling 5 million shares at $23.50 per share, along with pre-funded warrants to purchase 319,150 shares at $23.4999 per warrant. The total gross proceeds are estimated to be about $125,000,000. The offering is expected to close on October 27, 2023. J.P. Morgan, Goldman Sachs & Co. LLC, Jefferies, and RBC Capital Markets are the joint book-running managers for the offering.

Portfolio Pulse from Henry Khederian

October 25, 2023 | 2:44 pm

ATEC

Alphatec Holdings Inc (NASDAQ:ATEC) shares dropped by 18.4% after the company announced the pricing of a public offering of 14.3 million common stock shares at $10.50 per share. The offering is set to close on October 27. The joint book-running managers for the offering are Morgan Stanley, TD Cowen, Barclays, and Stifel. Alphatec anticipates gross proceeds of around $150 million, excluding the underwriters' option.

Portfolio Pulse from Henry Khederian

October 25, 2023 | 2:40 pm

GBX

Greenbrier Companies Inc's (GBX) shares fell by 16% after the company reported Q4 FY23 results. Despite revenues rising to $1.017 billion and securing orders for 15,300 new railcars, the company's adjusted EPS of $0.92 missed the consensus of $1.00. The company repurchased 0.2 million shares for around $8 million in Q4 and has $46 million worth of shares remaining under the current share repurchase program. For FY24, GBX expects revenue of $3.40 billion – $3.70 billion, lower than the consensus of $3.72 billion.

Portfolio Pulse from Lekha Gupta

October 25, 2023 | 2:38 pm

RUN

Muddy Waters has announced that it is shorting Sunrun (RUN) due to its belief that the company is significantly inflating its subscriber numbers. Sunrun reported approximately 725K subscribers in Q2, but data provided to the U.S. Energy Information Agency shows only around 600K subscribers.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:09 pm

DOW

Dow's (NYSE:DOW) short percent of float has risen 5.62% since its last report, with 11.87 million shares sold short, which is 1.69% of all regular shares available for trading. It would take traders 2.75 days to cover their short positions on average. Dow's peer group average for short interest as a percentage of float is 5.18%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

October 25, 2023 | 2:00 pm

SCU

Sculptor Capital Management has announced that it is uncertain when a consortium would be ready to execute a transaction, or if an agreement can be reached. As of October 24, the consortium's $13.50 proposal must be evaluated on a risk- and timing-adjusted basis, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:36 pm

ADI

AMD

AMKR

ENPH

GFS

INTC

LHX

NXPI

QCOM

The Biden administration has selected 31 tech hubs across the U.S. as part of the CHIPS and Science Act, which appropriates $56 billion to renationalize strategically important parts of the semiconductor supply chain. The tech hubs, composed of private companies, local governments, universities, labor unions, and non-profits, will be able to compete for grants of up to $75 million to boost their research and production capacities. Among the top semiconductor makers in the U.S. are Intel Corp., L3Harris Technologies, Inc., Qualcomm Inc., Amkor Technology Inc., NXP Semiconductors USA, Inc., GlobalFoundries Inc., Enphase Energy, Advanced Micro Devices Inc., and Analog Devices, Inc.

Portfolio Pulse from Natan Ponieman

October 25, 2023 | 1:33 pm

AMTD

AMTD IDEA Group (NYSE:AMTD) has announced an extension of its existing share repurchase program until the end of Q1 2024. The board of directors has also approved to set forth and earmark 70% of the program's total approved amount for October and November 2023.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:31 pm

GNS

Genius Group's CEO and other insiders have provided an additional $2M in funding to the company.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:31 pm