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Equity Actions

OXY

Occidental Petroleum Corp's subsidiary 1PointFive and ADNOC have begun a jointly funded preliminary engineering study for a 1 million tonne-per-year Direct Air Capture (DAC) facility in the UAE. This follows a memorandum of understanding signed on August 1, 2023, which is expected to mobilize $100 billion in clean energy and carbon management projects by 2035. If approved, the UAE project will connect to ADNOC's CO2 infrastructure in Abu Dhabi for injection and permanent storage into saline reservoirs.

Portfolio Pulse from Lekha Gupta

October 03, 2023 | 11:34 am

SMLP

Summit Midstream Partners (SMLP) expects Q3 adjusted EBITDA of $70M, a 20% increase from Q2. The company also anticipates significant quarterly volume growth across nearly every segment. The Q4 adjusted EBITDA guidance of $75M-$85M is reiterated.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:12 am

ALXO

CALM

MKC

NVDA

QQQ

SPY

The S&P 500 and Nasdaq futures are wavering as the market turns its focus to the JOLTS data. Analysts from LPL Financial suggest that expecting a strong Q4 this year could be tricky due to factors such as a potential government shutdown, high interest rates, and a strong dollar. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ ETF (QQQ) saw slight increases in premarket trading. Stocks in focus include ALX Oncology Holdings (ALXO), Nvidia Corp (NVDA), McCormick & Company (MKC), and Cal-Maine Foods (CALM).

Portfolio Pulse from Shanthi Rexaline

October 03, 2023 | 10:54 am

BAM

Brookfield Asset Management has closed its latest flagship global private equity program, Brookfield Capital Partners VI, with $12 billion in total capital raised. The fund is the largest private equity fund raised by Brookfield. The firm has committed $3.5 billion to the fund, aligning its interests with other investors.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 10:50 am

DHT

DHT Holdings, Inc. (NYSE:DHT) has announced that it purchased 1,137,583 of its own shares, equivalent to 0.7% of its outstanding shares, at an average price of $8.7219 during the third quarter. The shares have been retired upon receipt.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 10:48 am

AMPX

Amprius Technologies has entered into an At Market Issuance Sales Agreement with B. Riley Securities, Cantor Fitzgerald, and H.C. Wainwright. Under this agreement, Amprius may offer and sell up to $100 million in shares of its common stock, from time to time, through these sales agents.

Portfolio Pulse from Charles Gross

October 03, 2023 | 10:44 am

WISA

WiSA Technologies, Inc. (NASDAQ:WISA) provided a business update focusing on achieving key milestones and reducing total SG&A expenses leading into 2024. The company has begun shipping WiSA E development kits to strategic customers and rolled out a licensing plan for WiSA E software. WiSA is also initiating expense reductions in SG&A that will lower cash expenses, with savings expected to be about $0.9 million in Q1 2024 and about $4 million total in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 10:18 am

TLSI

TriSalus Life Sciences, Inc. has entered into a Standby Equity Purchase Agreement with YA II PN, Ltd. (Yorkville), a fund managed by Yorkville Advisors Global, LP. The agreement allows TriSalus to sell up to $30,000,000 of common stock to Yorkville at any time during a 24-month period starting from October 2, 2023.

Portfolio Pulse from Charles Gross

October 03, 2023 | 10:11 am

CALM

DLA

GAIA

MKC

TRIB

McCormick & Company, Delta Apparel, Cal-Maine Foods, Gaia, and Trinity Biotech are the stocks to watch heading into Tuesday. McCormick is expected to report quarterly earnings of 65 cents per share on revenue of $1.70 billion. Delta Apparel received an unsolicited offer to purchase its Salt Life business. Cal-Maine Foods is expected to have earned 25 cents per share on revenue of $473.37 million. Gaia reported a proposed public offering of common stock. Trinity Biotech is expected to post a quarterly loss at 9 cents per share on revenue of $13.50 million.

Portfolio Pulse from Lisa Levin

October 03, 2023 | 8:13 am

COMM

CommScope has sold its Home Networks division to Vantiva in exchange for a 25% stake in the company. This move is expected to allow CommScope to focus on its core businesses while still maintaining a significant interest in the home networks market.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 7:22 am