Streetbeat News

Equity Actions

ALV

AMPX

IBEX

IE

PCT

SPCE

VTLE

Several stocks recorded losses in Thursday's pre-market trading session. PureCycle Technologies (PCT) shares fell 14.6%, Ivanhoe Electric (IE) dipped 12.2% after pricing its public offering, IBEX Limited (IBEX) declined 11.1% following downbeat Q4 results and weak FY24 revenue outlook, Vital Energy (VTLE) fell 8.4% after announcing a public offering and plans for senior notes, Amprius Technologies (AMPX) declined 7%, Autoliv (ALV) fell 4.4%, and Virgin Galactic (SPCE) declined 2.6%.

Portfolio Pulse from Lisa Levin

September 14, 2023 | 10:06 am

ARKK

TSLA

Ark Invest, led by Cathie Wood, sold 51,155 Tesla shares on Wednesday, amounting to $13.88 billion. This comes after Tesla's stock rallied by 9% this week. Despite the sale, Tesla remains the top holding of Ark's flagship ETF, the Ark Innovation ETF (ARKK), with an 11.38% weighting. Ark has been selling Tesla stock since mid-June, even amid the stock's weakness following Tesla's Q2 earnings release.

Portfolio Pulse from Shanthi Rexaline

September 14, 2023 | 10:01 am

IE

Ivanhoe Electric Inc (NYSE:IE) has priced an underwritten public offering of 11.9 million shares at $13.50 per share, a 12.3% discount to the company’s closing price as of Sept. 13, 2023. The company has also granted the underwriters a 30-day option to purchase up to an additional 1.8 million shares at the public offering price. The gross proceeds from the offering are expected to be approximately $160 million. The company intends to use the net proceeds for a feasibility study on the Santa Cruz Project, mineral rights payments, drilling and other exploration activities, and general corporate purposes.

Portfolio Pulse from Shivani Kumaresan

September 14, 2023 | 9:57 am

TSLA

Tesla's supplier, CNGR, is considering an initial public offering (IPO) for its battery metal unit in Indonesia, according to Bloomberg.

Portfolio Pulse from Charles Gross

September 14, 2023 | 9:39 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) stock has regained momentum following a positive analyst rerating. Datatrek co-founder Nicholas Colas suggests that Tesla could use its $23 billion cash balance to increase its competitive positioning in the EV market. However, Future Fund's Managing Partner Gary Black disagrees, stating that Tesla is not capital-constrained and could initiate a buyback instead.

Portfolio Pulse from Shanthi Rexaline

September 14, 2023 | 8:58 am

IE

Ivanhoe Electric has priced its public offering of 11,851,852 common shares at $13.50 per share.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:49 am

YUMC

Yum China (YUMC) has announced plans to expand its store count to 20,000 by 2026, aiming for a double-digit compound annual growth rate (CAGR) in earnings per share (EPS). The company also targets to return $3 billion to shareholders from 2024 to 2026.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:30 am

SBOW

SilverBow Resources has priced an upsized public offering of 4 million common shares at $37 per share.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:13 am

BIOL

BIOLASE has priced an underwritten public offering of 75,000 units, each consisting of one share of Series J Convertible Redeemable Preferred Stock and one warrant to purchase half a share of the same. The offering is expected to close on September 18, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:11 am

AMC

AMC Entertainment has completed an at-the-market equity offering of 40 million shares, raising approximately $325 million.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 5:56 am