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Equity Actions

RIVN

Rivian Automotive has announced its intention to offer $1.50B of green convertible senior notes due 2030 in a private offering. The proceeds will be used for general corporate purposes, including the development of electric vehicles and related technologies.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 9:44 pm

INBS

Intelligent Bio Solutions has entered into an underwriting agreement to issue and sell 1.5 million Class A units in a registered public offering.

Portfolio Pulse from Charles Gross

October 04, 2023 | 9:33 pm

PARA

PARAA

SPY

TSLA

The article discusses the potential returns for investors who invested in Tesla Inc (NASDAQ:TSLA) after Elon Musk's appearance on 'The Big Bang Theory' in 2015. A $1,000 investment in Tesla stock the morning after the episode aired could have purchased 67.11 shares based on a split-adjusted price of $14.90. The $1,000 investment would be worth $17,354.65 today, based on a price of $258.60 for Tesla shares at the time of writing. This represents a return of 1,635.5% over the last nearly eight years. For comparison, the same $1,000 invested in the SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the broad market S&P 500 Index, would be worth $2,017.14 today. This represents a return of 106.7%

Portfolio Pulse from Chris Katje

October 04, 2023 | 9:24 pm

BB

BlackBerry has announced that it will continue to pursue the objectives of Project Imperium as it begins activities to separate its principal businesses.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 9:10 pm

BB

BlackBerry has announced its intention to separate its IoT business and pursue an IPO for it, with a launch targeted in the first half of the next fiscal year.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 9:09 pm

BB

BlackBerry has announced that its board has decided to separate its IoT and Cybersecurity business units into two independently-operated entities. This move is seen as the optimal strategic direction for the company.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 9:07 pm

OTTR

Otter Tail Corporation's CFO and SVP, Kevin Moug, is set to retire on December 31. Todd Wahlund has been named as his successor.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 9:01 pm

XLB

XLE

XLRE

XLU

XLV

XLY

Merrill Lynch, a Bank of America company, has challenged the traditional wisdom surrounding the predictive power of the U.S. yield curve inversion for recessions. The inversion of the U.S. yield curve has been in effect since July 2022. However, the U.S. economy has defied expectations, weathering sharp Federal Reserve rate hikes with surprising resilience. Merrill warns of a significant risk of a potentially meaningful increase in unemployment over the next year. The firm is bullish on the Health Care Select Sector SPDR Fund (NYSE:XLV), bearish on the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY), and favors overweights in the Utilities Select Sector SPDR Fund (NYSE:XLU) and the Energy Select Sector SPDR Fund (NYSE:XLE). It leans towards underweights in the Real Estate Select Sector SPDR Fund (NYSE:XLRE) and the Materials Select Sector SPDR Fund (NYSE:XLB).

Portfolio Pulse from Piero Cingari

October 04, 2023 | 8:47 pm

TSLA

Reliance Industries, an Indian oil refining company, has unveiled its swappable and multipurpose battery storage technology for electric vehicles (EVs). This move is part of the company's initiative to embrace green energy and diversify from its core oil-to-chemical business. Meanwhile, Tesla Inc, which plans to produce and sell battery storage systems in India, has submitted a proposal seeking incentives to establish a factory in the country. Reliance's batteries are easily swappable at designated stations or recharged at home, especially with rooftop solar panels, another product that Reliance plans to introduce.

Portfolio Pulse from Anusuya Lahiri

October 04, 2023 | 8:32 pm

MATICUSD

Jaynti Kanani, co-founder of Polygon (CRYPTO: MATIC), has announced his decision to step back from his active role in the project after six years. He plans to embark on 'new adventures' but will continue to support Polygon 'from the sidelines'. The crypto community is discussing these developments, and Polygon's journey continues with the aim of realizing the vision of 'bringing Polygon 2.0 to life'.

Portfolio Pulse from Murtuza Merchant

October 04, 2023 | 8:31 pm