Streetbeat News

Equity Actions

ARGT

BMA

GGAL

YPF

Javier Milei's victory in Argentina's presidential election led to a surge in Argentine ADRs and ETFs in U.S. markets. The Global X MSCI Argentina ETF (ARGT) rose by 13%, while ADRs like YPF Sociedad Anonima (YPF), Banco Macro S.A. (BMA), and Grupo Financiero Galicia S.A. (GGAL) saw significant premarket gains. Milei's economic proposals include privatization, dollarization, and fiscal reforms. Goldman Sachs highlighted risks associated with these changes, particularly for the exchange rate. The Argentine peso's volatility against the dollar Tether (USDT) on Binance and the disparity between official and parallel exchange rates are concerns for financial stability.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 2:45 pm

PXMD

PaxMedica, a biopharmaceutical company, has announced the pricing of its public offering at $1.30 per share, aiming to raise $7 million through the sale of 5,384,615 shares.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:24 pm

LIVB

Liv Capital Acquisition Corp (LIVB) has mutually agreed to terminate its pending business combination and will redeem all outstanding Class A ordinary shares on Dec. 8, 2023. Following the redemption, the company will liquidate, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:19 pm

NURO

NeuroMetrix, Inc. has announced a one-for-eight reverse stock split. This corporate action is typically used by companies to boost the share price to comply with exchange listing requirements and may also be an attempt to attract more institutional investors. However, reverse splits can be viewed negatively by the market as they often signal that a company has been struggling to maintain its share price.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:01 pm

RATE

SPY

The upcoming release of the FOMC minutes may serve as a reality check for markets that have recently adopted a dovish view on interest rates. Despite slowing inflation, the Fed may maintain a 'higher for longer' interest rate stance. The Global X Interest Rate Hedge ETF (RATE) has seen a decline in value, while the SPDR S&P 500 ETF (SPY) has risen following positive inflation data. Analysts are not expecting major surprises from the minutes but suggest that the market may be overly optimistic about rate cuts.

Portfolio Pulse from Neil Dennis

November 20, 2023 | 1:49 pm

ABVC

ABVC BioPharma, Inc. has entered into a securities purchase agreement with Lind Global Fund II, LP. The agreement includes a secured, convertible note for $1.2 million with a purchase price of $1 million, convertible into ABVC common stock at a price of $3.50 or 90% of the lowest VWAPs in the 20 days prior to conversion. Additionally, Lind received a warrant to purchase up to 1 million shares at $2 per share.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:40 pm

ITUB

Itau Unibanco Holding (NYSE:ITUB) has experienced a 5.45% increase in short interest since its last report, with 27.91 million shares sold short, representing 0.58% of its float. The average time to cover these short positions is 1.91 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. ITUB's short interest is below its peer group average of 0.82%.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 1:30 pm

MCD

McDonald's (NYSE:MCD) has seen a decrease in short interest, with the short percent of float falling 4.12% since the last report. The current short interest is 6.74 million shares, or 0.93% of available shares, with a cover time of 1.83 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average of 9.27% short interest as a percentage of float.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 1:30 pm

PPBI

Pacific Premier Bancorp, Inc. (PPBI) has repositioned its securities portfolio by selling $1.27 billion in available-for-sale securities, resulting in an estimated after-tax loss of approximately $182.3 million. The bank plans to deploy the net proceeds from the sale during the fourth quarter. The repositioning is expected to contribute $50.4 million to the bank's net interest income.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:21 pm

SPEC

Spectaire Holdings Inc has entered into a $20M common stock purchase agreement with an equity line investor, as disclosed in their SEC 8K filing on November 17.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:15 pm