Streetbeat News

Equity Actions

ACN

MSFT

PSO

ZUO

Pearson Plc has appointed Omar Abbosh, current President of Microsoft Corporation's Industry Solutions business, as its new CEO and Executive Director, effective early 2024. Abbosh will succeed Andy Bird, who is retiring. Prior to Microsoft, Abbosh held senior leadership roles at Accenture Plc. He also serves on the board of Zuora, Inc. The appointment follows a shareholder revolt over Bird's pay and concerns about the impact of AI on the business.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2023 | 11:25 am

MSFT

PSO

Pearson PLC has announced the appointment of Omar Abbosh, current President of Microsoft's Industry Solutions business, as its new CEO and Executive Director, effective early 2024. Abbosh will succeed Andy Bird, who is retiring as CEO of Pearson.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:24 am

SWBI

Smith & Wesson Brands has authorized a repurchase of up to $50M of its common stock through September 19.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:14 am

UXIN

Uxin has announced an equity investment agreement with Hefei Construction Investment North City Industrial Investment. The agreement involves an investment of up to RMB1.5B in Uxin's Hefei subsidiary, Youxin (Hefei) Automobile Intelligent Remanufacturing, over the next decade. This investment will support the operation and development of Uxin’s used car super store in Changfeng County, Hefei City. Post-investment, Hefei Construction Investment's equity ownership in Uxin Hefei will not exceed 50%, and Uxin retains the right to repurchase such equity stake. This investment will not dilute Uxin Limited’s shares listed on NASDAQ.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:12 am

CZOO

Cazoo Group Ltd (NYSE:CZOO) has entered into a transaction support agreement with noteholders and shareholders, representing more than 75% of its $630 million aggregate principal amount of 2.00% Convertible Senior Notes due 2027 and more than 25% of outstanding shares. The transactions will significantly deleverage the company's capital structure and are expected to improve its financial flexibility. The transactions are expected to close in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:49 am

BWXT

Global shipping and energy supply chain leader Crowley has partnered with BWX Technologies, Inc. (NYSE:BWXT) to develop a ship concept that could generate alternative, zero-carbon emission energy for defense and disaster needs by including a microreactor on board.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:49 am

SPRC

SciSparc has announced a 1-for-26 reverse share split. This action is typically taken by companies to increase the market price of their shares.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:30 am

AIU

CART

NKLA

RVNC

SPRY

Several stocks recorded losses in Wednesday's pre-market trading session. ARS Pharmaceuticals shares dipped 46.8% after the FDA requested additional study for its neffy® Epinephrine nasal spray. Revance Therapeutics shares declined 5.8% following the company's plan to exit the OPUL payments business. Instacart shares fell 4.4% despite pricing its IPO at the top end of the expected range. Meta Data Limited, Nikola Corporation, and Toyota Motor Corporation also experienced declines.

Portfolio Pulse from Lisa Levin

September 20, 2023 | 10:23 am

KNW

Know Labs has filed for an offering of 14,814,815 shares of its common stock.

Portfolio Pulse from Charles Gross

September 20, 2023 | 10:08 am

PINS

Pinterest's board has authorized a stock repurchase program of up to $1B of Class A common stock.

Portfolio Pulse from Charles Gross

September 20, 2023 | 10:03 am