Streetbeat News

Equity Actions

DWAC

Digital World Acquisition Corp. (DWAC) plans to return $533 million of the $1 billion raised for Trump Media & Technology Group, following the cancellation of $467 million in funding commitments. This could potentially derail the anticipated merger between DWAC and the Trump media group. Despite the challenges, DWAC CEO Eric Swider sees the cancellation of funding commitments as a positive step towards finalizing the business combination.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 11:52 am

EIS

SPY

Israel's Gallant has stated that the Gaza offensive will be protracted, powerful and effect permanent change. This could potentially impact the stability in the region and affect the performance of related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 11:44 am

STKL

SunOpta has announced the appointment of Greg Gaba as its new Chief Financial Officer (CFO), effective from October 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 11:04 am

DG

Gordon Haskett analyst Chuck Grom has upgraded Dollar Gen (NYSE:DG) from Hold to Buy and announced a $140 price target.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 10:13 am

RSHO

The article discusses the focus of both President Joe Biden and former President Donald Trump on reviving the U.S. economy through domestic manufacturing and mining. Amid geopolitical tensions and supply chain issues, investors are looking for opportunities in the U.S. reshoring initiatives. The Tema American Reshoring ETF (NYSE:RSHO) is highlighted as a fund that offers protection against trade wars and supply chain failures. Since its trading inception on May 11, RSHO has risen 14.32%, outperforming the S&P 500.

Portfolio Pulse from Melanie Schaffer

October 13, 2023 | 10:06 am

AGNC

AGNC Investment Corp. has implemented a new 'At The Market' common stock issuance program. The company has entered into separate sales agreements to offer and sell shares of common stock with an aggregate offering price of up to $1.25 billion.

Portfolio Pulse from Charles Gross

October 13, 2023 | 10:06 am

IMVT

UBS analyst Colin Bristow has upgraded Immunovant (NASDAQ:IMVT) from Neutral to Buy and raised the price target from $18 to $55.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 9:48 am

KRE

TFC

Truist Financial (NYSE:TFC) is planning significant changes to boost its stock performance after a 43% decline since February 2023. The company plans to cut costs by selling or closing underperforming businesses and reducing its workforce. CEO William Rogers announced plans to eliminate $750 million in operating expenses over the next 12 to 18 months. These changes are expected to stabilize the company’s expense growth at around 0% to 1% in 2024, down from the estimated 7% in 2023.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 8:14 am

C

DG

JPM

SGH

WFC

Citigroup, Dollar General Corporation, JPMorgan Chase & Co., SMART Global Holdings, and Wells Fargo & Company are the stocks to watch heading into Friday. Citigroup and Wells Fargo are expected to report quarterly earnings, while Dollar General has narrowed its outlook for fiscal year 2023 and announced a CEO change. JPMorgan is also set to release its earnings, and SMART Global reported worse-than-expected Q4 results and issued a weak forecast for Q1.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 6:50 am

AMZN

RIVN

Rivian Automotive's CEO, R.J. Scaringe, discussed his relationship with Amazon's founder, Jeff Bezos, and the detailed conversation they had prior to Amazon's investment in Rivian. Amazon holds a 16.7% stake in Rivian and had a carrying value of $3.8 billion in Rivian's equity investments as of September 2021. Despite recent questions about Rivian's financial soundness, it is seen as a credible rival to Tesla in the EV market.

Portfolio Pulse from Shanthi Rexaline

October 13, 2023 | 6:43 am