Streetbeat News

Equity Actions

SHFS

SHF Holdings has announced that it is restructuring certain deferred consideration obligations related to its 2022 acquisition of Abaca. The agreement is expected to reduce dilution and provide long-term benefits.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:34 am

AMZN

META

QQQ

SPY

The US equity market is showing signs of recovery, with Amazon's Q3 results lifting tech stocks. The Nasdaq Composite and S&P 500 are eyeing a rebound, while Bitcoin edges down. Mixed earnings and robust economic data triggered a market decline in the previous session. The Nasdaq Composite has entered correction territory, while the S&P 500 teeters just above. The Dow Industrials also closed lower. The Russell 2000 rebounded after recent declines. Communication services stocks faced pressure due to Meta Platforms' cautious remarks. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained. DexCom, Masimo Corporation, Amazon, and Intel saw premarket gains, while Ford and Enphase Energy fell.

Portfolio Pulse from Shanthi Rexaline

October 27, 2023 | 11:20 am

SPY

USO

US markets closed in the red on October 26 due to mixed quarterly earnings and economic resilience. The Nasdaq saw the largest drop, primarily due to underperformance of mega-cap stocks. The S&P 500's communication services sector experienced the biggest drop, while real estate saw the most significant gain. Asian markets closed higher on October 27, led by gains in various sectors. European markets were mixed, with the STOXX 600 and DAX rising, while the CAC and FTSE 100 declined. Crude oil prices jumped 2.15%, while US futures were up.

Portfolio Pulse from Akanksha Bakshi

October 27, 2023 | 11:18 am

ARQT

GLT

LIFW

RGF

Insiders at four companies, The Real Good Food Company, Glatfelter Corporation, Arcutis Biotherapeutics, and MSP Recovery, have recently made significant purchases of their companies' stocks. The Real Good Food Company recently priced a public offering of its class A common stock, Glatfelter entered into a marketing agreement with Ekman & Co., Arcutis Biotherapeutics priced a $100 million public offering, and MSP Recovery announced a 1-for-25 reverse stock split.

Portfolio Pulse from Lisa Levin

October 27, 2023 | 10:43 am

GTLS

Chart Industries has updated its full year 2023 sales guidance from the previous outlook of $3.66B-$3.80B to $3.45B-$3.50B. The revision is due to the removal of sales associated with American Fan, Cryo Diffusion, and Cofimco, following their accelerated divestitures, and revenue timing between quarters.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 10:38 am

CVX

Chevron Corporation (CVX) has announced that it expects to repurchase shares worth approximately $3 billion, with a possible variation of 20%, in the fourth quarter.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 10:26 am

ALGN

Align Technology has announced a $250 million accelerated stock repurchase agreement with Citibank. This is part of Align's $1.0 billion stock repurchase program approved by the board in January 2023. Additionally, CEO Joe Hogan intends to personally purchase $1.0 million of Align's common stock.

Portfolio Pulse from Charles Gross

October 27, 2023 | 10:18 am

OPT

Opthea Limited has appointed Frederic Guerard as its new CEO, effective immediately. Guerard replaces Megan Baldwin, who will transition to the role of Founder and Chief Innovation Officer. The company has also appointed Peter Lang as its new CFO.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 9:39 am

NWE

NorthWestern Corporation has provided its financial guidance for FY23 and FY24. The company expects non-GAAP EPS for FY23 to be between $3.00-$3.10, which is below the consensus of $3.42. For FY24, the EPS is expected to be between $3.42-$3.62. The guidance is based on several assumptions including approval of the Montana general rate review settlement agreement, constructive outcomes in South Dakota rate review, normal weather, and an effective income tax rate of 4%-5% for 2023 and 12%-14% for 2024. The company also increased its long-term EPS growth guidance to 4%-6% from a 2022 base year.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 6:41 am

EQNR

Equinor expects its FY23 production to increase by approximately 1.5% YoY, with an estimated organic capital expenditure of $10B-$11B. The company also aims to keep the unit of production cost in the top quartile of its peer group.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 6:26 am