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Equity Actions

HUM

Humana has announced the appointment of Jim Rechtin as President and Chief Operating Officer, effective from January 8, 2024. This is part of a long-planned CEO transition. Rechtin will report to current CEO Bruce Broussard until the latter half of 2024, when Broussard will step down and Rechtin will assume the CEO role.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 11:02 am

BIOR

Biora Therapeutics has issued a warrant to an investor in a private placement transaction, allowing the purchase of up to 1 million shares at an exercise price of $1.93 per share.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 10:53 am

HPQ

HP Inc (HPQ) has provided an FY24 outlook, updated on its cost-saving initiatives, and raised its annual dividend by 5% to $1.1024 per share. The company expects an adjusted EPS of $3.25-$3.65 and FCF of $3.1 billion-$3.6 billion for FY24. HPQ plans to return about 100% of FCF through dividends and share repurchases. The company also anticipates increasing its Future Ready plan annualized gross run rate structural cost savings by $200 million to $1.6 billion by the end of FY25.

Portfolio Pulse from Lekha Gupta

October 11, 2023 | 10:50 am

STLA

Stellantis N.V. and Samsung SDI have announced Kokomo, Indiana as the site for a second battery manufacturing facility in the US as part of the StarPlus Energy joint venture. The new plant is expected to start production in 2027 with an annual capacity of 34 GWh. The joint venture will invest over $3.2 billion and create 1,400 new jobs. The total investment for both facilities will be over $6.3 billion, creating 2,800 total new jobs.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 10:05 am

ASTR

AZZ

ETWO

RELL

VOXX

Richardson Electronics (RELL) is expected to report quarterly earnings of 3 cents per share on revenue of $51.10 million. AZZ Inc. (AZZ) posted better-than-expected results for its second quarter and reaffirmed FY24 guidance. Astra Space (ASTR) is exploring strategic options, including asset sales. VOXX International Corporation (VOXX) reported stronger-than-expected sales for its second quarter. E2open Parent Holdings Inc (ETWO) posted downbeat results for its second quarter and named Andrew Appel as interim CEO.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 7:42 am

AAPL

AMZN

FB

GOOGL

MSFT

NVDA

The Russell 2000 index, which represents the smaller two-thirds of the U.S. stock market, is lagging behind the large-cap Russell 1000 index by 13 percentage points this year, potentially signaling economic concerns. The dominance of tech giants like Microsoft, Amazon, Apple, Nvidia, Meta Platforms, and Alphabet could be contributing to the perceived weakness of the rest of the stock market. Despite the current lag, small-cap stocks have historically outperformed large-caps in the 12 months following each of the last 11 recessions.

Portfolio Pulse from Benzinga Neuro

October 11, 2023 | 7:33 am

CMCL

Caledonia Mining has reported a 3Q23 gold production of 21,772 ounces at its Blanket Mine, marking a new quarterly record. This is a 3% increase from the 21,120 ounces produced in the same quarter of 2022. The total gold produced in the nine months to the end of September was 55,244 ounces. The company has reiterated its gold production guidance for 2023 of between 75,000 and 80,000 ounces.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 7:14 am

PD

PagerDuty has priced $350 million of 1.50% Convertible Senior Notes due 2028 in a private placement to qualified institutional buyers. The company also granted the initial purchasers an option to buy up to an additional $52.5 million principal amount of notes. The sale is expected to close on October 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 7:03 am

NOG

Northern Oil And Gas has priced its public offering of 6.5 million common shares for gross proceeds of approximately $252.7 million.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:41 am

HPQ

HP Inc. has announced a 5% increase to its annual dividend, amounting to $1.1024 per share. The company plans to return approximately 100% of free cash flow through dividends and share repurchases in fiscal 2024. The company's CFO, Marie Myers, expressed confidence in the company's plans to grow non-GAAP diluted net EPS and free cash flow in FY24 and beyond.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:02 am