Streetbeat News

Equity Actions

MMM

PODD

Insulet Corp's CFO, Wayde McMillan, has resigned and will join 3M Company as CFO of its Health Care business. Insulet has appointed Lauren Budden as Interim CFO and Treasurer and has initiated a search for a permanent successor. Despite the resignation, Insulet reaffirmed its Q3 and FY23 revenue and margin outlook. PODD shares are trading lower by 1.15% premarket.

Portfolio Pulse from Lekha Gupta

October 04, 2023 | 12:17 pm

LAB

SLGC

Standard BioTools (NASDAQ:LAB) and SomaLogic (NASDAQ:SLGC) have announced an all-stock merger, creating a diversified leader in life sciences tools. The combined company will have a pro-forma equity value of over $1 billion and over $180 million of pro-forma combined revenue for the full year 2023. The merger is expected to generate $80 million in annual cost synergies by 2026. Standard BioTools shareholders will own approximately 43% of the combined company, and SomaLogic shareholders will own approximately 57%.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 12:14 pm

AEMD

Aethlon Medical, Inc. (AEMD) has announced a 1-for-10 reverse stock split. This action is typically taken by companies to increase the market price of their shares and attract investors.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 12:13 pm

Kineta, Inc. (NASDAQ:KA) has announced a registered direct offering of 890,208 shares of common stock at $3.37 per share, expected to generate approximately $3 million in gross proceeds. The company will also issue unregistered warrants to purchase up to 890,208 shares of common stock at $3.25 per share. The offering is expected to close on October 5, 2023. The proceeds will be used for working capital purposes.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 12:07 pm

AMZN

GOOG

GOOGL

AI startup Anthropic is discussing a new $2 billion funding round with potential investors, including Alphabet Inc's Google, following Amazon's recent commitment to invest up to $4 billion in the company. The company aims to achieve a post-funding valuation of $20 billion - $30 billion, a significant increase from its $4 billion valuation in March. Anthropic is known for its generative AI models and plans to develop a more advanced model, Claude Next, requiring substantial capital due to its resource-intensive nature.

Portfolio Pulse from Anusuya Lahiri

October 04, 2023 | 11:28 am

AAPL

INTC

PLTR

QQQ

SPY

TLT

The equity market continues to face uncertainty due to unclear interest rate trajectory and political instability. High bond yields and increased job openings have further weakened the market. The S&P 500, Nasdaq, and Dow are all at a four-month low. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF have both seen a decrease in premarket trading. Apple's stock has been downgraded, while Palantir and Intel have seen increases due to recent announcements. The iShares 20+ Year Treasury Bond ETF is also seeing a drawdown.

Portfolio Pulse from Shanthi Rexaline

October 04, 2023 | 11:27 am

CEI

FLNG

GPRE

RCON

The article lists four energy stocks that are considered oversold and may present buying opportunities. These include Recon Technology (RCON), Camber Energy (CEI), Green Plains Inc. (GPRE), and FLEX LNG Ltd. (FLNG). All these stocks have an RSI value below 30, indicating they may be undervalued.

Portfolio Pulse from Lisa Levin

October 04, 2023 | 11:20 am

AOUT

American Outdoor Brands (AOUT) has appointed Brent Vulgamott as the new Chief Operating Officer. Previously, Vulgamott served as the Vice President of Sales, Operations & Analytics.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 11:07 am

GOOG

META

NVDA

SFTBF

Masayoshi Son, CEO of Softbank Group Corp, emphasized the importance of artificial general intelligence (AGI) during the company's annual event, predicting that AGI will surpass human intelligence within a decade. Son's advocacy comes amid a global race to harness AI's potential, led by tech giants like Meta Platforms Inc and Alphabet Inc. Son also revealed his daily interactions with GPT-4, an advanced AI model. SoftBank is preparing to re-enter tech investments, with a shift from a $43.9 billion investment in FY 2021 to a more modest $4 billion in the last fiscal year.

Portfolio Pulse from Anusuya Lahiri

October 04, 2023 | 11:01 am

BRKR

Bruker Corporation has announced a majority investment in MIRO Analytical AG, a company known for its innovation in compact, high-precision QCL-based multi-gas analyzers. The financial details of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 11:01 am