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SPHR

Sphere Entertainment Co. (NYSE:SPHR) reported a $98.4 million operating loss from its Las Vegas Sphere venue for the quarter ending Sep. 30, 2023. The company's CFO, Gautam Ranji, has also resigned, although the company clarified that his departure was not due to any professional disagreement. Despite these challenges, the company reaffirmed its commitment to delivering long-term shareholder value.

Portfolio Pulse from Benzinga Neuro

November 10, 2023 | 6:03 am

COR

WBA

Cencora, Inc. (NYSE:COR) has agreed to repurchase its common stock from Walgreens Boots Alliance Holdings LLC for approximately $250 million. The repurchase is concurrent with Walgreens Boots Alliance's entry into certain variable pre-paid forward transactions. The repurchased shares will be held in Cencora's treasury.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:19 am

COR

WBA

Walgreens Boots Alliance (WBA) has sold shares of Cencora, Inc. (COR) for initial proceeds of $674 million. The sale was executed through variable prepaid forward transactions, providing WBA with liquidity while maintaining the ability to participate in potential stock price appreciation. The proceeds will be used for debt paydown and general corporate purposes. The sale has no impact on the long-term partnership between the two companies.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:18 am

SRFM

Surf Air Mobility Inc. (NYSE:SRFM) has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission, registering up to 300 million shares of Common Stock. This is part of the company's Share Subscription Facility with GEM, under which it has access to a total of $400 million. The company currently has $392.5 million remaining under this agreement. The registered shares will be used to request advances under the share subscription facility and satisfy other current obligations to register shares previously issued to GEM.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:07 am

ITCL

Banco Itaú Chile (NYSE:ITCL) has announced the termination of its American Depositary Shares (ADS) program. The Bank of New York Mellon, as depositary, issued a termination notice on November 8, 2023, with the program set to end on February 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:00 am

FEAM

5E Advanced Materials, Inc. (NASDAQ:FEAM) has entered a standstill agreement with its primary lender, BEP Special Situations IV, LLC, to facilitate discussions for a funding solution for the next phase of operations. The agreement allows 5E to go below its current cash covenant until December 1, 2023. The company has also retained Province to advise in restructuring its debt. The CEO stated that a successful restructure of convertible notes and approval from the EPA will enable the company to advance operations and growth.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 11:56 pm

AEY

ADDvantage Technologies Group, Inc. (NASDAQ:AEY) has announced a 1-for-10 reverse stock split of its common stock as part of its Nasdaq compliance plan. The reverse stock split is expected to take effect on November 16, 2023. No fractional shares will be issued, instead, stockholders will receive cash in lieu of fractional shares. The number of outstanding shares will be reduced from approximately 14,947,078 to approximately 1,494,707 after the reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 11:45 pm

MKTX

MarketAxess Holdings Inc. (NASDAQ:MKTX) announced that its CFO, Christopher N. Gerosa, will step down on January 31, 2024, to join a private tech company in the commercial bank sector. The company has initiated a formal search for a new CFO.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 11:37 pm

AIZ

Assurant, Inc. (NYSE:AIZ) has announced that its Board of Directors has authorized a repurchase program for up to $600 million of the company's outstanding common stock. This is in addition to the company's current authorization, of which approximately $174 million remained unused as of October 31, 2023. The company's Board of Directors also declared a quarterly dividend increase of $0.02 to $0.72 per share of common stock.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 11:36 pm

EXPD

Expeditors International of Washington, Inc. (NASDAQ:EXPD) has announced its decision to transfer the listing of its common stock from the Nasdaq Stock Market LLC to the New York Stock Exchange (NYSE). The company's common stock is expected to begin trading on the NYSE on November 21, 2023, under its current ticker symbol 'EXPD'. The stock will continue to trade on Nasdaq until the market closes on November 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 11:32 pm