Streetbeat News

Equity Actions

HUGE

FSD Pharma Inc. announced the distribution date for Celly Nutrition Corp. shares to its securityholders as part of a plan of arrangement. The distribution date is set for November 29, 2023, with a record date of November 28, 2023, and an ex-dividend date of November 27, 2023. Eligible holders of FSD Pharma shares and certain warrants will receive one Celly Nu Share for each share or warrant held. Approximately 45.7 million Celly Nu Shares will be distributed, with FSD Pharma retaining about 154.3 million shares. The arrangement will be voted on at a special meeting on November 20, 2023, and requires final court approval on November 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:05 pm

BAC

Bank of America Inc. (NYSE:BAC) shares increased by 0.88% in the current session, trading at $29.80, and have risen by 13.26% over the past month, despite a 20.13% decline over the past year. The stock's P/E ratio of 8.27, compared to the Banks industry average of 13.16, suggests it may be undervalued or expected to underperform its peers. Investors should consider the P/E ratio among other factors when evaluating the company's market performance.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 1:00 pm

BRK

JNJ

Hedge fund billionaires, including Warren Buffett and Ray Dalio, have been selling shares of Johnson & Johnson (JNJ) in the third quarter, as revealed by recent 13F filings. JNJ, a dividend king and Fortune’s World's Most Admired Company in 2023, has seen a decrease in hedge fund holdings. Buffett's Berkshire Hathaway (BRK) fully exited its position, while Dalio's Bridgewater Associates and other firms like Lazard Asset Management and Alliancebernstein reduced their stakes. Challenges such as upcoming patent expiration and litigation issues may be influencing these decisions.

Portfolio Pulse from Surbhi Jain

November 17, 2023 | 12:58 pm

GS

Masanori Mochida, President of Goldman Sachs Japan, is stepping down after 38 years. His departure is part of a move for fresh leadership as the firm faces increased competition in Japan. Mochida was instrumental in establishing Goldman's presence in Japan, competing with domestic banks. His retirement aligns with a growing interest in Japanese investments due to corporate governance reforms and shareholder activism. Mochida's post-retirement plans may involve rugby, reflecting his past interest in the sport.

Portfolio Pulse from Anusuya Lahiri

November 17, 2023 | 12:52 pm

CGC

Canopy Growth Corporation (CGC) announced that its subsidiary, BioSteel, has received court approval for successful bids in its sale and investment solicitation process. This development could potentially lead to new investments or ownership changes in BioSteel, which may impact CGC's financials and strategic direction.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:38 pm

YTRA

Yatra Online, Inc. (YTRA) has announced a share repurchase program authorized by its Board of Directors, allowing the company to buy back up to $5 million of its outstanding ordinary shares. The timeline for the repurchase is unlimited.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:33 pm

CINT

CI&T has announced a new share repurchase program authorizing the buyback of up to 2.5 million shares until December 31, 2024. This move could indicate the company's confidence in its own stock and a potential attempt to increase shareholder value.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:21 pm

DAWN

Day One Biopharmaceuticals announced that data from its FIREFLY-1 study of tovorafenib has been published in Nature Medicine. The study focuses on the treatment's impact on pediatric low-grade glioma, a common brain tumor in children. The publication in a prestigious journal suggests positive results and could enhance the company's profile in the biopharmaceutical industry.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:05 pm

THAR

Tharimmune has announced a 1-for-25 reverse stock split, set to take effect at 4:01 PM Eastern Time on November 20, 2023. This corporate action will consolidate existing shares, potentially increasing the market price per share.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:04 pm

ATKR

Atkore, a manufacturer of electrical products, has projected an adjusted earnings per share (EPS) of over $18.00 for fiscal year 2025. This forward-looking statement reflects the company's expectations for significant growth in the coming years.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 11:55 am