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Equity Actions

TITN

Titan Machinery Inc. (NASDAQ:TITN) announced a leadership succession plan. David Meyer, the company's Founder, Chairman, and CEO, will transition to Executive Chairman effective February 1, 2024. Bryan Knutson, the company's President and COO, will succeed Meyer as CEO and will also join the company's Board of Directors. Meyer will focus on leading the Board of Directors, providing counsel to Knutson and the leadership team, and continuing to advance Titan's acquisition strategy.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:18 pm

BXRX

Baudax Bio has announced that it is ready to initiate the clinical development of TI-168 following the recent approval of corporate actions related to the acquisition of TeraImmune by its shareholders.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:12 pm

LGND

OVID

Ovid Therapeutics Inc. (OVID) and Ligand Pharmaceuticals Incorporated (LGND) have announced a deal in which Ligand acquires a 13% portion of the royalties and milestones related to the potential approval and commercialization of soticlestat. Ovid will receive a $30 million payment in return, extending its cash runway into 2026.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:04 pm

AMBA

Ambarella's CFO, Brian White, is set to retire at the end of FY24. John Young, the current Vice President of Finance, will take over the CFO role at that time.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:01 pm

EA

GIII

SNOW

SNX

Insiders at four companies, G-III Apparel Group (GIII), Electronic Arts (EA), TD SYNNEX (SNX), and Snowflake (SNOW), have recently sold shares. G-III Apparel Group reported a 9% YoY sales growth in Q2 FY24, beating analyst consensus. Electronic Arts was recently upgraded from Neutral to Buy by B of A Securities. TD SYNNEX announced a secondary public offering of 6.75 million shares and a concurrent share repurchase of $280 million. B of A Securities initiated coverage on Snowflake with a Neutral rating.

Portfolio Pulse from Lisa Levin

October 18, 2023 | 11:59 am

BTCUSD

C

Robert Kiyosaki, author of 'Rich Dad Poor Dad', commented on the impact of inflation on different socioeconomic groups, stating that it exacerbates the financial struggles of the poor and middle class who primarily rely on dollars, while benefiting the wealthy who prioritize assets like gold, silver, and Bitcoin. He also mentioned Citibank's new service, Citi Token Services, which incorporates blockchain technology for instant payments. Kiyosaki has previously predicted that Bitcoin would reach $100,000.

Portfolio Pulse from Mehab Qureshi

October 18, 2023 | 11:55 am

TSM

According to industry sources, Taiwan Semiconductor Manufacturing Company (TSMC) plans to increase sub-7nm foundry quotes by 3-6% in 2024. However, quotes for 16nm and above process manufacturing will remain stable.

Portfolio Pulse from Charles Gross

October 18, 2023 | 11:48 am

FND

Floor & Decor Holdings (FND) shares are trading higher after the announcement that the company will join the S&P MidCap 400.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 11:18 am

NIO

Chinese electric vehicle (EV) manufacturer NIO Inc. is reportedly considering the establishment of a dealer network in Europe to boost sales growth. The move is part of NIO's strategy to mitigate potential tariffs on Chinese EVs in the region. The company is also planning to introduce a more budget-friendly EV brand, 'Firefly', in Europe by 2025. NIO's decision to use dealers is aimed at easing cash pressure as it prioritizes expenditure on research and battery swapping stations in China.

Portfolio Pulse from Nabaparna Bhattacharya

October 18, 2023 | 10:59 am

PG

P&G has reiterated its FY24 adjusted EPS guidance of $6.25 - $6.43, which is in line with the $6.38 estimate. The company expects a revenue growth of 2% - 4% year over year. Despite an incremental $600 million after-tax foreign exchange headwind, P&G maintains its EPS range and outlook for organic sales growth of 4% - 5%.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 10:58 am