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Equity Actions

WBUY

Webuy Global Ltd (NASDAQ:WBUY) is set to IPO on October 6th on the NASDAQ exchange. The company is offering shares at an expected price of $4.00 per share with an insider lock-up period of 180 days ending on April 03, 2024. Webuy Global Ltd is an emerging SEA community e-commerce retailer focusing on grocery and travel.

Portfolio Pulse from Benzinga Insights

October 05, 2023 | 3:00 pm

TLT

Economist Mohamed El-Erian warns of a potential stagflation risk and recession threat for the US economy by 2024 due to soaring interest rates, a strong dollar, and climbing oil prices. The yield on the benchmark US 10-year bond has surged, contributing to higher borrowing costs and an uneven pattern of deposit outflows from the banking system. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) has fallen 16% year to date, and more than 50% since its 2020 highs.

Portfolio Pulse from Piero Cingari

October 05, 2023 | 2:41 pm

VSME

VS Media Holdings Limited (NASDAQ:VSME) announced the closing of its IPO of 2 million shares priced at $5 per share and its expansion into Macau through a partnership with MLink Limited. The company's shares are volatile with more than 18.5 million shares traded on Thursday, compared to the average of 3.661 million shares. The shares are up 3% at $4.80.

Portfolio Pulse from Erica Kollmann

October 05, 2023 | 2:36 pm

ALXO

ALX Oncology Holdings Inc (NASDAQ:ALXO) announced the pricing of a public offering of approximately 7.37 million common stock shares at $6.38 per share and 1.25 million pre-funded warrants at $6.379 per warrant. The gross proceeds are expected to be around $55.0 million. The company plans to use the proceeds for clinical development and general corporate purposes.

Portfolio Pulse from Henry Khederian

October 05, 2023 | 2:33 pm

UBER

The Business of Cannabis: New York Conference, scheduled for November 3, 2023, will bring together over 400 entrepreneurs, investors, and operators in the cannabis industry. The conference will focus on market trends, regulatory shifts, and investment opportunities in the cannabis industry, which is forecasted to grow into a $7.2 billion industry by 2026. Despite challenges, the New York cannabis market is poised for growth. The conference will feature participation from industry giants and policy influencers including X (formerly Twitter), Uber (NYSE:UBER), the New York Office of Cannabis Management, and Bloomberg.

Portfolio Pulse from Javier Hasse

October 05, 2023 | 2:32 pm

GROM

Grom Social Enterprises Inc. (NASDAQ:GROM) shares are trading higher despite no company-specific news. The stock is trending on Yahoo! Finance and has attracted attention from short-sellers and retail investors. The shares are up 25% at $2.19. The company is a media, technology, and entertainment firm delivering content to children under 13 through a secure platform.

Portfolio Pulse from Erica Kollmann

October 05, 2023 | 2:32 pm

AMZN

Amazon has announced the launch of its first Project Kuiper internet satellites, KuiperSat-1 and KuiperSat-2, on October 6. The satellites will be launched from the Cape Canaveral Space Force Station in Florida. This is Amazon's first venture into space, with the aim of establishing a satellite array similar to Elon Musk's Starlink. Amazon plans to manufacture and deploy 3,200 internet satellites over the next six years. The first satellites for actual array use are planned for the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 2:27 pm

EHAB

AREX Capital Management, a beneficial owner of approximately 2.4 million shares of Enhabit, Inc., has issued a letter to the company's board expressing dissatisfaction with the company's communication and execution. AREX emphasized that Enhabit should not remain a standalone public company and that a sale of the company is the only acceptable outcome. AREX warned that it will act decisively to protect its rights if a sale is not announced by early next year.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 2:10 pm

VSTO

Vista Outdoor has announced that after its separation, the Outdoor Products Segment will be named Revelyst Inc and will trade on the New York Stock Exchange under the ticker 'GEAR'.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 2:07 pm

LW

Lamb Weston Holdings Inc (NYSE:LW) reported Q1 FY24 sales growth of 48% YoY to $1.67 billion, beating the analyst consensus estimate of $1.62 billion. The company's gross profit increased 82.7% YoY to $499.5 million, and the operating income for the quarter jumped 106% to $323 million. Lamb Weston returned $40.8 million to shareholders through cash dividends and $100.0 million through share repurchases. The company raised the FY24 sales outlook to $6.8 billion - $7 billion from $6.7 billion - $6.9 billion.

Portfolio Pulse from Shivani Kumaresan

October 05, 2023 | 2:04 pm