Streetbeat News

Equity Actions

FATH

Fathom Digital Manufacturing has announced a 1-for-20 reverse stock split, which will be effective after the close on September 28.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:31 pm

BA

A significant bearish stance has been taken on Boeing (NYSE:BA) as indicated by unusual options activity. The sentiment among big-money traders is split between 48% bullish and 51% bearish. Whales have been targeting a price range from $165.0 to $240.0 for Boeing over the last 3 months. The price of BA is currently down -1.44% at $205.12. Susquehanna has downgraded its action to Positive with a price target of $270, while TD Cowen and Citigroup maintain their Outperform and Buy ratings respectively, with price targets of $260 and $285.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 8:30 pm

VMAR

Vision Marine Technologies Inc. (NASDAQ:VMAR) has announced a private placement of 372,870 units at a purchase price of $4.05 per unit, expected to generate gross proceeds of approximately $1.5 million. Each unit consists of one common share and one common share purchase warrant, exercisable six months from issuance and expiring three years from issuance. The closing of the private placement is expected to occur on or about September 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:30 pm

NIO

NIO Inc. has announced a proposed offering of $1B in convertible senior notes, split equally between notes due in 2029 and 2030. The company plans to use the proceeds to repurchase a portion of its existing debt securities and to strengthen its balance sheet. The notes will be senior, unsecured obligations of NIO, and may be converted into cash, American Depositary Shares, or a combination of both.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:29 pm

CPTN

Cepton has announced a 1-for-10 reverse stock split, which will be effective from September 21. This move is typically aimed at increasing the per-share price of the company's stock.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:20 pm

PIK

KIDPIK has entered into a debt exchange agreement with its CEO, Ezra Dabah. Dabah will exchange $1.2M due on 1,553,800 shares at $0.7723 per share.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:18 pm

ALEX

HE

Hawaiian Electric Industries (HEI) has announced leadership changes effective October 1, 2023. Paul Ito, currently EVP, CFO & treasurer of HEI, will serve as SVP, CFO & treasurer of Hawaiian Electric until approximately December 31, 2024, following the retirement of Tayne Sekimura. Scott DeGhetto, a veteran from Moelis & Company, will join HEI as CFO until Ito resumes his position. DeGhetto will remain at HEI in an advisory role from approximately January 1, 2025 until April 1, 2025.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:16 pm

ANAB

AnaptysBio has appointed John Orwin as the Chairman of the Board, replacing Jamie Topper who is stepping down but will continue to serve as an advisor to the board through Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:16 pm

BABA

A significant amount of unusual options activity has been observed for Alibaba Group Holding (NYSE:BABA), with a bearish stance being taken by a majority of investors. Of the 93 unusual trades detected, 60% were bearish and 39% bullish. The total amount for puts was $4,817,476 and for calls was $1,870,425. Whales have been targeting a price range from $30.0 to $265.0 for Alibaba over the last 3 months. Susquehanna has downgraded its action to Positive with a price target of $160.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 8:15 pm

SNAP

SONO

Patrick Spence, the CEO of Sonos, has joined the board of directors at Snap Inc.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:11 pm