Streetbeat News

Equity Actions

LULU

Lululemon's stock is trading higher following the announcement that it will be included in the S&P 500 index.

Portfolio Pulse from Bill Haddad

October 16, 2023 | 12:25 pm

FAT

FAT Brands Inc., the parent company of Johnny Rockets and 17 other restaurant concepts, has announced nine new openings for Johnny Rockets, including its first location in Iraq. The new locations also include Fortaleza, Brazil, Cumbica International Airport in Sao Paulo, Brazil, Santiago, Chile, Lima, Peru, Dubai, United Arab Emirates, Abu Dhabi, United Arab Emirates, Talca, Chile, and one ghost kitchen in the United Arab Emirates.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:24 pm

FFIE

EV startup Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) has announced measures to improve its falling stock price, which closed at $1.05 per share on Friday. The company's market cap is now about 1% of the nearly $3 billion invested into the business. Measures include investigating potential illegal short selling attempts, seeking investment for production ramp-up, and reducing operational costs. The company's executive leaders also plan to increase their holdings.

Portfolio Pulse from Anan Ashraf

October 16, 2023 | 12:10 pm

HHS

Harte Hanks announced that CFO Lauri Kearnes is stepping down and David Garrison will take over the role on an interim basis, effective October 23, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:06 pm

FOXA

NWSA

Activist shareholder Starboard Value has acquired a significant stake in News Corp (NASDAQ:NWSA) and is pushing for strategic and governance reforms. Starboard believes News Corp is undervalued due to its complex corporate structure and advocates for the spin-off of its digital real estate division, including REA Group and Realtor.com parent Move Inc. The firm is also pushing to eliminate News Corp's dual-class share structure, which grants the Murdoch family disproportionate voting rights.

Portfolio Pulse from Anusuya Lahiri

October 16, 2023 | 11:29 am

TSLA

Elon Musk has been the CEO of Tesla Inc (NASDAQ:TSLA) for 15 years, transforming it into the largest player in the EV industry with a market cap of $807.669 billion. Since its IPO in 2010, Tesla's shares have jumped 19,780.08% to close at $254.46 on Friday. Musk is also the CEO of Neuralink and SpaceX.

Portfolio Pulse from Anan Ashraf

October 16, 2023 | 11:07 am

GLD

SPY

USO

On Friday, October 13, the U.S. stock markets closed mixed due to declining consumer confidence and Middle East tensions, despite positive earnings from major U.S. banks. Energy, utilities, and consumer staples sectors led the gains in the S&P500. Asian markets closed lower on Monday, with investors cautious ahead of crucial inflation data. European markets were mixed, while commodities saw crude oil trading higher and gold trading lower. U.S. futures were mixed, and the U.S. Dollar Index was down.

Portfolio Pulse from Akanksha Bakshi

October 16, 2023 | 10:52 am

AULT

Ault Alliance, Inc. (NYSE:AULT) has entered into an agreement with Ault & Company, Inc. to restructure $17.5M of liabilities into long-term convertible debt. The agreement includes the issuance of a senior secured convertible promissory note and warrants to purchase AAI's common stock. The debt is secured by a first priority security interest in all the assets of AAI and its subsidiaries.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 10:32 am

KKR

KKR & Co Inc and Flerie have formed a new global pharma services platform, Frontier Biosolutions, which will invest in companies focused on specialized pharmaceutical services. As an initial investment, the platform has invested in Munich-based Coriolis Pharma, a company involved in formulation research and development, analytical services, and non-GMP manufacturing of biologics and cell and gene therapy products. The investment is expected to drive Coriolis' expansion strategy in the cell and gene therapy segment and boost its range of global services.

Portfolio Pulse from Lekha Gupta

October 16, 2023 | 10:23 am

NCR

NCR Corporation has announced a name change to NCR Voyix Corporation, effective from October 13, 2023. This is part of the company's plan to separate into two independent, publicly traded companies: NCR Voyix, focusing on digital commerce, and NCR Atleos, focusing on ATMs. The company's stock will start trading under the new ticker symbol 'VYX' on the New York Stock Exchange from October 17, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 10:05 am