Streetbeat News

Equity Actions

KBNT

Kubient Inc has implemented a 36% reduction in its workforce, equating to 4 people, in an effort to reduce the company's operating costs, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:13 pm

MSFT

NVDA

Microsoft is planning to unveil its first artificial intelligence chip at its annual developers' conference next month. The chip, similar to Nvidia GPUs, is designed for data center servers that train and run large language models. This could help Microsoft reduce its reliance on Nvidia-designed AI chips, which have been in short supply due to high demand.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:09 pm

ANEB

Anebulo Pharmaceuticals Inc has announced Richie Cunningham as its new Chief Executive Officer and a member of the company's Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:07 pm

CNFR

James G. Petcoff, the Chairman and Co-CEO of Conifer Holdings Inc, has announced his decision to step down from his roles.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:04 pm

CNFR

Conifer Holdings has announced that Nick Petcoff will become the sole CEO of the company, effective from December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:03 pm

ADXN

Addex Therapeutics (NASDAQ:ADXN) plans to change its American Depositary Shares (ADSs) to ordinary shares ratio from 1:6 to 1:120, effective around October 23, 2023. This change is equivalent to a 1 for 20 reverse ADS split, aimed at regaining compliance with the Nasdaq minimum bid price requirement. The company's ADSs will continue to be traded on the Nasdaq Capital Market under the ticker symbol 'ADXN'. The change is expected to proportionally increase the company's ADS trading price.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:02 pm

K

Stifel analyst Matthew E. Smith has reiterated a Hold rating on Kellanova (NYSE:K), lowering the price target to $56 from $71. The company recently completed the spin-off of WK Kellogg, resulting in a more focused global snacking company. However, the analyst cautions that a weak volume environment and diminishing pricing could impact the company negatively. Smith estimates FY23 EPS of $3.38 and 7% organic sales growth. Shares are currently trading in line with peers.

Portfolio Pulse from Nabaparna Bhattacharya

October 06, 2023 | 7:36 pm

BTCUSD

HOOD

Venture capitalist Tim Draper discussed his views on artificial intelligence, Bitcoin, and his best investment returns in an interview. He expressed excitement about the potential of AI, particularly in education, and mentioned his investment in Otter.ai. Draper reiterated his belief that Bitcoin will reach $250,000, though he has adjusted his timeline for this prediction. He also highlighted the benefits of Bitcoin's decentralization and expects its adoption to increase. Draper's best investment return was from Robinhood Markets Inc, with a return of over 1000x.

Portfolio Pulse from Chris Katje

October 06, 2023 | 7:00 pm

AUVI

CAMP

OMQS

PIXY

PRZO

VCNX

U.S. stocks traded higher with the Dow Jones index gaining more than 300 points. Information technology shares rose by 1.8%. U.S. nonfarm payrolls rose by 336,000 in September, above market estimates. ParaZero Technologies, Vaccinex, and Applied UV saw significant stock increases. CalAmp Corp., OMNIQ Corp., and ShiftPixy saw significant stock decreases. Gold and oil prices increased.

Portfolio Pulse from Lisa Levin

October 06, 2023 | 6:31 pm

LULU

A significant amount of unusual options activity has been observed for Lululemon Athletica (NASDAQ:LULU), with a bearish stance being taken by a majority of investors. The price target for Lululemon Athletica over the last 3 months has been between $350.0 to $390.0. The current price of LULU is down -0.25% at $359.46. HSBC, Needham, and Telsey Advisory Group have all downgraded their actions to Buy or Outperform with price targets ranging from $450 to $500.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 6:17 pm