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Equity Actions

CGC

Canopy Growth Corporation (CGC) has been approved by the Ontario Superior Court of Justice to sell assets of BioSteel Sports Nutrition Inc. under the Companies' Creditors Arrangement Act. The sale includes assets of BioSteel Canada and BioSteel Manufacturing, LLC, which is expected to improve Canopy Growth's balance sheet. CFO Judy Hong stated that ceasing to fund BioSteel has already enhanced the company's financial position, and the sale proceeds will further improve it. Canopy's shares were up 3.2216% at $0.5479 per share.

Portfolio Pulse from Jelena Martinovic

November 17, 2023 | 4:05 pm

DLTR

Dollar Tree (NASDAQ:DLTR) is evaluated against competitors in the Food & Staples Retailing industry. It has a lower P/E, P/B, and higher P/S ratios compared to the industry average, suggesting undervaluation but also potential overvaluation in sales. Dollar Tree's ROE, EBITDA, and gross profit are below the industry average, indicating possible inefficiencies, while its revenue growth outperforms the industry. The company's lower debt-to-equity ratio suggests a stronger financial position relative to its top 4 peers.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 4:00 pm

CTSH

The article compares Cognizant Tech Solns (CTSH) to its IT Services industry peers, analyzing financial metrics like P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth. Cognizant, with a lower P/E, P/B, and P/S than the industry average, may be undervalued. However, its ROE, EBITDA, gross profit, and revenue growth are below the industry average, indicating potential profitability and growth challenges. The company's lower debt-to-equity ratio suggests a stronger financial position compared to its top 4 peers.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 4:00 pm

DELL

Dell Technologies Inc. (NYSE:DELL) stock has seen a 0.36% increase in the current session, trading at $72.80. Over the past month and year, the stock has risen by 11.67% and 78.21%, respectively. The company's P/E ratio of 27.9 is below the industry average of 29.29, which could suggest undervaluation or potentially weaker growth prospects compared to industry peers.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 4:00 pm

CYTO

Altamira Therapeutics Ltd (NASDAQ:CYTO) is trading over 200% higher after announcing the sale of a 51% stake in its subsidiary Altamira Medica AG to a Swiss private equity investor. The deal includes a cash consideration of CHF 2.04 million and future licensing income. The company will retain a 49% stake in Medica and expects a financial gain of approximately $5.2 million from the transaction. Altamira's CEO anticipates major growth from 2024 and a strategic repositioning into a focused RNA delivery company.

Portfolio Pulse from Vandana Singh

November 17, 2023 | 3:58 pm

AIRE

ReAlpha, a real estate technology company, has filed a prospectus with the SEC for the offering of up to 1.67 million common units at a price of $12 per unit, as detailed in their Form S-11 filing.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 3:41 pm

SGD

Safe And Green Development (SGD) shares are up following the company's announcement that it will not proceed with the offering of common stock previously contemplated by the Registration Statement.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 3:39 pm

ADBE

Adobe Inc. (NYSE:ADBE) has seen a decrease in short interest, with the current level at 4.04 million shares or 0.89% of float, down 17.59% from the last report. The short interest now represents approximately 1.6 days of average trading volume. While a decrease in short interest can indicate a more bullish sentiment towards the stock, it does not necessarily predict a near-term price rise. Adobe's short interest is below its peer group average of 3.41%.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 3:30 pm

DXCM

DexCom (NYSE:DXCM) has experienced a 32.63% increase in short interest since its last report, with 21.06 million shares sold short, representing 6.26% of its float. It would take about 3.33 days to cover all short positions. While high short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. DexCom's short interest is higher than its peer group average of 3.24%.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 3:30 pm

DEO

Diageo (NYSE:DEO) has experienced a 38.1% increase in short interest since its last report, with 1.65 million shares sold short, representing 0.29% of its float. It would take about 2.88 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Diageo's short interest is below its peer group average of 4.94%. This suggests less bearish sentiment compared to its peers, and increasing short interest can sometimes be a bullish indicator.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 3:30 pm