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Equity Actions

KLAC

KLA Inc.'s (NASDAQ:KLAC) share price is currently at $452.29, after a 0.10% increase. Over the past month, the stock fell by 10.75%, but increased by 39.93% over the past year. KLA's P/E ratio is lower than the aggregate P/E of the Semiconductors & Semiconductor Equipment industry, which could indicate that the stock is undervalued or that shareholders do not expect it to perform better in the future.

Portfolio Pulse from Benzinga Insights

October 04, 2023 | 2:00 pm

BNTX

EVAX

MRK

MRNA

NVS

PFE

RHHBF

3D Medicines Inc. announced plans to repurchase up to 10% of its outstanding shares over the next 12 months, causing its stock to trade 7.2% higher. The company's management believes the current trading price does not reflect the intrinsic value and business prospects of the company. Despite strong sales and financial performance, the company's share price has dropped 87% year-to-date due to the broader Hong Kong market sell-off.

Portfolio Pulse from Daniel Harrison

October 04, 2023 | 1:49 pm

VNDA

Traders are circulating news that Zacks Healthcare Innovators has purchased stock in Vanda Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 1:43 pm

ELAN

Traders are circulating a DealReporter note that suggests a large new activist is involved with Elanco Animal Health.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 1:42 pm

AGBA

AGBA Group Holding Limited has confirmed a self-imposed lockup of all shares held by two significant shareholders, AGBA Holdings Limited and Apex Twinkle Limited, who collectively hold 7.11% of AGBA's share capital. They have committed not to sell their shares for the next three months. AGBA's majority shareholder, TAG Holdings Limited, holds an 82.3% stake in the company and has not sold any shares since AGBA's listing in November 2022.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 1:19 pm

ROL

Spruce Point Capital Management has issued a short report on Rollins, Inc. (ROL), predicting a 30-40% long-term downside risk for the company. The report cites changing industry dynamics, increased pressures such as rising customer churn and acquisition costs, and consumer resistance to recent price increases. It also warns that nearly 40% of Rollins' annual revenue growth has come from its acquisition strategy, which is facing challenges due to new private equity money backing pest control acquisition platforms. The report also questions Rollins' recent claims of improving gross margins and highlights the company's increasing leverage to repurchase shares while the Rollins family is accelerating stock sales.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 1:08 pm

KA

Kineta has announced a $3 million registered direct offering priced at-the-market under Nasdaq rules, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 1:03 pm

SALM

Salem Media Group has announced its plan to sell its Salem Church Product business for $30 million.

Portfolio Pulse from Bill Haddad

October 04, 2023 | 1:01 pm

VVPR

VivoPower International PLC (NASDAQ:VVPR) has announced a 1-for-10 reverse stock split of its outstanding ordinary shares, effective from October 5, 2023. The move is aimed at increasing the company's per share trading price and regaining compliance with the $1.00 per share minimum closing price required for continued listing on Nasdaq. The reverse split will not impact the company's current or future business operations.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 12:40 pm

MARA

Marathon Digital Holdings (NASDAQ:MARA) announced its Bitcoin production and mining operation updates for September 2023. The company produced 1,242 BTC in September, a 16% increase from the previous month and a 245% increase from September 2022. The company's share of the Bitcoin network's available miner rewards was a record 4.3%. The company's combined unrestricted cash and Bitcoin was $471 million as of September 30, 2023. The company also retired the majority of its convertible debt at a significant discount.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 12:34 pm