Streetbeat News

Equity Actions

AER

AerCap Holdings NV (AER) reported Q3 FY23 transactions and financial developments. The company signed 134 lease agreements, purchased 33 airlines, and completed 52 sale deals. It also repurchased about 20 million shares worth $1.2 billion and carried out financing transactions worth $3.9 billion. In Q2 FY23, the company reported a 10% YoY total lease revenue growth to $1.72 billion, missing the analyst consensus of $1.82 billion. Adjusted EPS of $2.56 beat the analyst consensus of $2.06.

Portfolio Pulse from Lekha Gupta

October 09, 2023 | 12:55 pm

ARM

CART

The IPO market has been struggling due to rising interest rates and recessionary headwinds. High-profile IPOs like Arm Holdings (NASDAQ:ARM) and Instacart (NYSE:CART) have seen their stocks wobble soon after listing, with Arm's stock falling nearly 15% and Instacart's plunging over 24%. The Federal Reserve's plan to continue raising interest rates has deterred companies from going public due to concerns about rising borrowing costs. The current hawkish backdrop is unfavorable for IPOs as growth expectations and funding availability remain low.

Portfolio Pulse from Aditi Ganguly

October 09, 2023 | 12:52 pm

FTXG

PEP

XLB

XLP

PepsiCo shares fell around 5% due to Walmart indicating a decrease in shopping demand due to the use of appetite-suppressing medications. The First Trust Nasdaq Food & Beverage ETF (FTXG) fell by over 5% last week, marking its third consecutive week of losses. The Materials Select Sector SPDR Fund (XLB) gained 0.9%, while the Consumer Staples Select Sector SPDR Fund (XLP) lost 0.6% on Friday.

Portfolio Pulse from Priya Nigam

October 09, 2023 | 12:48 pm

SEB

Seaboard Corporation has announced a share repurchase of 189,724 shares at $3,162.50 per share.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:45 pm

LIXT

LIXTE Biotechnology Holdings, Inc. (NASDAQ:LIXT) announced the passing of its founder and Executive Chairman, John S. Kovach, M.D. Dr. Kovach founded the company in 2005 and served as LIXTE's President and CEO until September 26, 2023. He was succeeded by Bas van der Baan. The company is developing a novel class of cancer therapy called PP2A inhibitors.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:38 pm

DM

SSYS

Desktop Metal, Inc. (NYSE:DM) has announced the termination of its shareholder rights plan in connection with the termination of the merger agreement with Stratasys Ltd. (NASDAQ:SSYS). The amendment to the rights agreement will be detailed in a Form 8-K to be filed with the SEC.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:35 pm

MAMA

Mama's Creations, Inc. (NASDAQ:MAMA) announced the retirement of COO Matthew Brown at the end of fiscal Q3 2024. Eric Felice and Ray Geer have been promoted to Vice Presidents of Operations at the company's East Rutherford and Farmingdale facilities respectively. EVP Steve Burns has expanded his responsibilities as Chief Administrative Officer, and Anthony Morello, President of T&L Creative Salads and Olive Branch, will also broaden his responsibilities to accelerate the company's operational load sharing and redundancy efforts.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:35 pm

CLMB

Climb Global Solutions, Inc. (NASDAQ:CLMB) has acquired DataSolutions Holdings Limited, a leading IT and security solutions distributor in Ireland and the UK, for $16.3 million. The acquisition is expected to be accretive to earnings and adjusted EBITDA. DataSolutions brings its robust share of the Irish and UK markets to Climb, along with 14 blue-chip vendor partners. The acquisition is expected to enhance Climb's gross profit and adjusted EBITDA margins, and fortify its foundation for long-term growth.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:31 pm

ASPI

ASP Isotopes Inc. (NASDAQ:ASPI) has announced a private placement of approximately 9 million shares of its common stock at a price of $0.9105 per share, expected to generate around $8 million in gross proceeds. The placement was oversubscribed and priced 'At the Market' under NASDAQ rules. The Tees River Critical Resources Fund intends to take a significant percentage of the placement, increasing its total ownership to around 14%. The proceeds will be used for working capital and other general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:22 pm

FXI

SPY

U.S. Senator Schumer has expressed the need to remove restrictions and open up Chinese markets. This could potentially impact the performance of ETFs like FXI and SPY.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:14 pm