Streetbeat News

Equity Actions

Piper Sandler analyst Rob Owens has upgraded Zscaler (NASDAQ:ZS) from Neutral to Overweight and raised the price target from $160 to $190.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 9:00 am

SPI

SPI Energy's subsidiary, Solar4America, will provide an update on its manufacturing expansion plans at PV CellTech USA 2023. The company's manufacturing facility in Sacramento currently produces approximately 700MW, with total combined capacity of the California and South Carolina locations expected to reach 2.4GW in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:58 am

VTRS

Viatris plans to divest its OTC, Women's Healthcare, and API businesses in a strategic move that could yield up to $6.94B in total gross proceeds. The company will retain rights for Viagra®, Dymista® and select OTC products in certain markets, representing about $1.6B in estimated retained value. The divestitures, expected to close by H1 2024, will result in up to 12 facilities and over 6,000 employees, or about 15% of the company's global workforce, being conveyed. The proceeds will be used for debt paydown to reach a gross leverage target of 3.0x in H1 2024.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:07 am

TSLA

Tesla CEO Elon Musk disputed reports of his net worth rising by $8.6 million every hour, stating that he 'loses' more every time Tesla's stock drops. Musk owns more than 423 million shares of Tesla, representing a 13.4% stake in the company. Tesla shares closed at $250.22 per share on Friday, up 19,448% since listing. Musk is currently the richest person in the world with a net worth of $252.6 billion.

Portfolio Pulse from Anan Ashraf

October 02, 2023 | 4:25 am

GVH

LRHC

PMEC

Three companies, La Rosa Holdings Corp (LRHC), Globavend Holdings Limited (GVH), and Primech Holdings Ltd. (PMEC), are scheduled to go public this week. LRHC will offer 1,000,000 shares at $5.00 per share, GVH will offer 1,875,000 shares at $4.50 per share, and PMEC will offer 3,050,000 shares at $4.50 per share. All three companies have a 180-day insider lock-up period.

Portfolio Pulse from Benzinga Insights

October 01, 2023 | 7:34 pm

BLK

COIN

FNF

Kevin O'Leary, chairman of O'Shares Investment Advisors, predicts that a new regulatory-compliant crypto exchange, M2, being planned in Abu Dhabi could surpass Binance and FTX. He highlighted the regulatory challenges faced by Coinbase (NASDAQ:COIN), and the hurdles encountered by Fidelity (NYSE:FNF) and BlackRock (NYSE:BLK) in launching their ETFs.

Portfolio Pulse from Bibhu Pattnaik

October 01, 2023 | 4:34 pm

CGC

GDNSF

GTBIF

TLLTF

Green Thumb Industries Inc. has appointed Richard Reisin and Hannah Ross to its board of directors. Canopy Growth Corporation announced the election of seven directors at its recent shareholders meeting. Goodness Growth Holdings, Inc. announced the resignation of its CFO, John Heller, effective September 30. TILT Holdings Inc. has appointed Tim Conder as its permanent CEO and Art Smuck as chair of the board.

Portfolio Pulse from Jelena Martinovic

October 01, 2023 | 2:48 am

DLTR

FSR

META

TSLA

Barron's has highlighted several key stories for investors, including Dollar Tree director Daniel J. Heinrich's purchase of 1,650 shares amid a significant stock price decline. Meta Platform's value fluctuated with the introduction of new AI software initiatives. EV startup Fisker plans to raise $170 million via convertible notes due in 2025. Philip Morris shares rose following the announcement of robust growth targets, particularly in smoke-free products. Tesla's third-quarter delivery estimates vary widely, causing market uncertainty.

Portfolio Pulse from Justin Chan

October 01, 2023 | 1:10 am

DKNG

MGM

PENN

Workers at Detroit's casinos, including MGM Resorts International's MGM Grand Detroit and PENN Entertainment, Inc.'s Hollywood at Greektown, have authorized a potential strike that could disrupt the city's gaming sector. The strike, backed by the United Auto Workers (UAW) and Teamsters, could mobilize over 3,500 workers to halt operations as early as mid-October. This comes amid escalating labor movements nationwide and could impact the operations of casino conglomerates like MGM Resorts and PENN Entertainment.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 8:49 pm

DHR

VLTO

Danaher Corporation has completed the spin-off of its Environmental & Applied Solutions segment, Veralto Corporation. Veralto will begin trading on the NYSE under the symbol 'VLTO' on October 2, 2023. Danaher stockholders received one share of Veralto for every three shares of Danaher held as of September 13, 2023. Approximately 246 million shares of Veralto were distributed.

Portfolio Pulse from Charles Gross

September 30, 2023 | 1:01 pm