Streetbeat News

Equity Actions

GHG

GreenTree Hospitality Group's board has authorized a share repurchase program, allowing the company to repurchase up to $10M worth of outstanding Class A ordinary shares, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:49 pm

FCEL

FuelCell Energy Inc has filed for a stock shelf, according to a recent SEC filing. The size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:38 pm

NVFY

Nova Lifestyle Inc has filed for a mixed shelf offering of up to $55 million, according to a SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:37 pm

RYAM

Rayonier Advanced Materials Inc. (NYSE:RYAM) has engaged Houlihan Lokey as its financial advisor to explore the potential sale of its paperboard and high-yield pulp assets located at its Temiscaming site. This move is part of RYAM's strategy to enhance its operational and financial performance, optimize its portfolio, and reduce debt.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:35 pm

CME

GLD

MSFT

USO

XLE

XOM

The escalating Israel-Hamas conflict, rising inflation, and surging oil prices have shaken global markets. The conflict could disrupt global oil supplies, as the Middle East accounts for about one-third of global oil production. In the US, inflation figures exceeded expectations, with the Producer Price Index surging 2.2% YoY and the Consumer Price Index inflation rising by 3.7% YoY. This has led to a spike in 30-year mortgage rates and a dip in consumer sentiment. Despite this, the Fed signals another rate hike is still possible. M&A activity picked up with Exxon Mobil acquiring Pioneer Resources and Microsoft purchasing Activision Blizzard. The week also saw strong Q3 earnings from major banks.

Portfolio Pulse from Piero Cingari

October 13, 2023 | 8:33 pm

PFE

Pfizer has revised its 2023 revenue guidance to $58B-$61B, down from $66.02B, due to changes in its Covid products. The company has amended its supply agreement with the U.S. government for Paxlovid, reducing its revenue guidance for the drug by $7B. Pfizer will commercialize Paxlovid in the U.S. starting January 1, 2024. The company also plans to launch a cost realignment program expected to deliver savings of at least $3.5B.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:32 pm

VWE

Vintage Wine Estates Inc has announced that Seth Kaufman will assume the role of CEO on October 30, 2023. The company is looking forward to advancing its strategy under new leadership.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:22 pm

USO

The Ecuadorian government has appointed Reinaldo Armijos as the new manager for state oil firm PetroEcuador. This announcement comes just days ahead of the country's presidential election.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:21 pm

WINV

WinVest Acquisition Corp. (NASDAQ:WINV) has extended the deadline for its initial business combination by one month to November 17, 2023. The extension is to provide additional time for the company to complete the combination. In connection with the extension, $65,000 will be deposited into the trust account established in connection with the company's initial public offering. The board may further extend the termination date on a monthly basis until December 17, 2023, upon the deposit of an additional $65,000 into the trust account per monthly extension.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:18 pm

JPC

JPS

JPT

Shareholders of Nuveen Preferred and Income Fund (JPT), Nuveen Preferred & Income Securities Fund (JPS), and Nuveen Preferred & Income Opportunities Fund (JPC) have approved a proposal to merge the funds. The mergers will combine JPT and JPS into JPC, expected to become effective before the market opens on November 6, 2023. The monthly distributions for JPT, JPS, and JPC will be replaced by pre-merger distributions declared on October 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:17 pm