Streetbeat News

Equity Actions

GLPG

Galapagos NV (NASDAQ:GLPG) has signed a letter of intent to transfer its Jyseleca business to Alfasigma. The deal includes a €50 million upfront payment, potential milestone payments totaling €120 million, and mid-single to mid-double-digit royalties on European sales. Galapagos will pay up to €40 million by June 2025 to Alfasigma for Jyseleca related development activities. The company also plans to streamline its operations and expects annualized savings between €150 million and €200 million.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:38 pm

RNAZ

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) has withdrawn its underwritten public offering of common stock due to unfavorable market conditions. The company believes that the current conditions would not be in the best interests of its stockholders.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:35 pm

SCS

Steelcase Inc. has entered into a stock repurchase agreement with an independent third-party broker to repurchase up to 2 million shares, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:34 pm

BlackBerry has announced that John Chen will retire as Executive Chair and CEO. Current board member Richard Lynch has been appointed as the Board Chair and Interim CEO.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:07 pm

PNXP

Pineapple Express Cannabis Company (OTCPK: PNXP) is offering up to 5 million shares of its common stock at $1 per share, aiming to raise $5 million. The shares are available to accredited investors in compliance with Regulation D, Rule 506(c) under the Securities Act of 1933. The funds raised will be used for the company's strategic plan of launching 10 fully licensed retail cannabis dispensaries in the metro Los Angeles area and financing general corporate operations.

Portfolio Pulse from Joana Scopel

October 30, 2023 | 8:04 pm

NVO

A significant bullish stance has been taken on Novo Nordisk (NYSE:NVO) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 58% bullish and 41% bearish. The whales have been targeting a price range from $45.0 to $120.0 for Novo Nordisk over the last 3 months. The price of NVO is up 3.41% at $96.69. Argus Research has downgraded its action to Buy with a price target of $110.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 8:00 pm

John Chen, the CEO of BlackBerry, is set to leave the company on Friday. Chen has been instrumental in leading the turnaround of the company over the past decade.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 7:25 pm

ALZN

COMM

EAR

LMDX

MIRO

VYNE

WDC

The Dow Jones index gained over 500 points, with Western Digital Corp (WDC) announcing a plan to split its HDD and Flash businesses following upbeat Q1 results. Miromatrix Medical Inc. (MIRO) shares surged after United Therapeutics agreed to acquire the company. VYNE Therapeutics Inc. (VYNE) shares rose after announcing a private placement of $88 million and positive Phase 1b trial data. Eargo, Inc. (EAR) shares increased after announcing it will be taken private by Patient Square Capital. CommScope Holding Company, Inc. (COMM) shares dropped after reporting preliminary Q3 results. Alzamend Neuro, Inc. (ALZN) shares fell after announcing a reverse stock split. LumiraDx Limited (LMDX) shares fell after receiving a Nasdaq delisting determination.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 7:06 pm

PXMD

PaxMedica Inc (NASDAQ:PXMD) shares dropped by 21% after the company announced a 1-for-17 reverse stock split. The split is effective from October 30, and the common stock will start trading on a split-adjusted basis from October 31. No fractional shares were issued, and those entitled to fractional shares will receive whole shares instead.

Portfolio Pulse from Henry Khederian

October 30, 2023 | 6:52 pm

EIS

ELALF

IZRL

QQQ

SPY

The Israeli Defense Forces and Shin Bet security agency have successfully rescued a soldier captured by Hamas. Israeli Prime Minister Benjamin Netanyahu has rejected the idea of a ceasefire. U.S. Senate Minority Leader Mitch McConnell is advocating for combined aid for Ukraine and Israel, despite House GOP efforts to pursue a separate Israel aid package offset by budget cuts. El Al Israel Airlines Ltd. (OTCPK: ELALF) has altered its flight routes to southeast Asia, extending flight durations. The Israeli shekel rose 1.2% and the iShares MSCI Israel ETF (NYSE:EIS) rallied 4.1%. Cathie Wood’s ARK Israel Innovative Technology ETF (NYSE:IZRL) rose 1.6%. U.S. stocks also saw gains, with the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ Trust (NASDAQ:QQQ) up 1.1%.

Portfolio Pulse from Piero Cingari

October 30, 2023 | 6:45 pm