Streetbeat News

Equity Actions

TRC

Tejon Ranch plans to aggressively pursue commercial and industrial development, multi-family development, leasing, sales, and investment within TRCC and its joint ventures in FY23. The company will also continue to invest in residential projects.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 2:24 pm

ARKF

ARKK

ARKW

ROKU

Ark Invest, led by Cathie Wood, sold 171,268 shares of Roku, Inc. (NASDAQ:ROKU) through its Ark Innovation ETF (NYSE:ARKK), following Roku's post-earnings surge. Despite the sale, Roku remains ARKK's top holding. Roku is also part of Ark's Ark Next Generation Internet ETF (NYSE:ARKW) and ARK Fintech Innovation ETF (NYSE:ARKF). Roku's Q3 revenue exceeded expectations, but the EPS loss was wider than expected.

Portfolio Pulse from Shanthi Rexaline

November 07, 2023 | 2:09 pm

MARA

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has launched a 27 megawatt Bitcoin mining project in Paraguay, powered by renewable, hydro energy. This is Marathon's second international deployment, following a project in Abu Dhabi. The project is a joint venture with Penguin Infrastructure Holding and will be built out in two stages, with the first stage expected to be energized in November. Marathon's CEO, Fred Thiel, highlighted the benefits of such deployments in regions with excess power, such as reduced power costs and increased mix of sustainable energy.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 2:03 pm

PHG

Royal Philips (NYSE:PHG) has received a second round of funding from the Bill & Melinda Gates Foundation to accelerate the global adoption of AI algorithms on Philips Lumify Handheld Ultrasound. The total investment from the foundation now stands at $60 million. The AI-guided ultrasound technology aims to simplify key measurements to identify abnormalities during pregnancy, reducing training time from weeks to hours. The technology has shown a positive impact in Kenya and the new funding will support its deployment to underserved communities globally.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 2:01 pm

AMTD

AMTD IDEA Group (NYSE:AMTD) has announced a change in the ratio of its American depositary shares (ADSs) to its Class A ordinary shares from 1:2 to 1:6, effective on November 17, 2023. This change will have the same effect as a one-for-three reverse ADS split. No fractional new ADSs will be issued, and the change will not impact the company's underlying Class A ordinary shares.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 1:46 pm

MMAT

Meta Materials Inc. (MMAT) announced preliminary positive results from its restructuring, focusing on core business lines generating revenue. The company's CFO and COO, Uzi Sasson, has been appointed as CEO, effective immediately. The company has also reported recent multi-million-dollar business wins, new purchase orders worth $6.2 million, and a larger agreement with a G10 central bank customer worth up to $41.5M over 5 years. The company is showcasing its latest innovation at the Dubai Airshow in November 2023.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 1:41 pm

MMC

SPY

Marsh & McLennan Companies Inc. (NYSE:MMC) is showing a strong performance with a 146% increase over the last five years, outpacing the 73% return of the SPDR S&P 500 ETF (NYSE:SPY). The company has grown earnings by an average of 18% per year over the last five years and is expected to grow earnings by 11% per year going forward. MMC is also buying back shares with a buyback yield of 1% and offers a 1.5% dividend. The stock is currently trading at one of its lowest P/E ratios in the last five years.

Portfolio Pulse from Cory Mitchell

November 07, 2023 | 1:41 pm

WWAC

Aeries Technology, Inc has completed its business combination with Worldwide Webb Acquisition Corp. (NASDAQ:WWAC), becoming a publicly traded company. The combined company's ordinary shares and warrants will be listed on The Nasdaq Stock Market LLC under the symbols 'AERT' and 'AERTW'. Aeries Technology offers a range of management consultancy services and currently has 30+ clients across various verticals in the U.S. and other international markets. The company is also in discussions to raise further capital to execute on its growth and M&A strategy.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 1:36 pm

HES

Argus Research analyst Bill Selesky has upgraded Hess (NYSE:HES) from Hold to Buy and announced a price target of $171.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 12:40 pm

BMBL

CRM

MSFT

MTCH

Bumble Inc. (NASDAQ:BMBL) founder and CEO, Whitney Wolfe Herd, has announced her resignation after ten years. She will become the company's executive chair, with Lidiane Jones, current CEO of Slack, set to replace her. The news comes during a challenging time for online dating platforms, with Match Group (NASDAQ:MTCH) experiencing a slowdown in user growth and revenue, leading to a 36% drop in its stock value this year. Jones' experience at Salesforce Inc. (NYSE:CRM) and Microsoft Corp. (NASDAQ:MSFT) could help Bumble remain competitive.

Portfolio Pulse from Rounak Jain

November 07, 2023 | 12:37 pm