Streetbeat News

Equity Actions

INBS

Intelligent Bio Solutions has announced the pricing of a $4 million underwritten public offering at $0.55 per unit, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 2:10 pm

JPM

SPY

Jamie Dimon, CEO of JPMorgan Chase, stated in an interview with Bloomberg TV that artificial intelligence (AI) is performing most of the equity hedging for the company and will definitely replace jobs in the future.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 2:09 pm

MITQ

Moving iMage Technologies (NYSE:MITQ) has announced a 10b5-1 stock trading plan to facilitate its previously re-authorized one-year, $1 million share repurchase program. The company had repurchased approximately 273,000 shares for $303,000 by June 30, 2023, leaving $697,000 available for future repurchases. The 10b5-1 plan allows for repurchases of MITQ common stock during blackout periods based on MiT's insider trading policy.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 2:03 pm

AEP

American Electric Power Company Inc (AEP) has appointed Charles E. Zebula as its new CFO, effective immediately. Zebula, who previously served as AEP's executive vice president, Portfolio Optimization, succeeds Ann P. Kelly. The company also reaffirmed its 2023 operating EPS guidance range of $5.19-$5.39, long-term growth rate of 6%-7%, and FFO/Debt target of 14%-15%. AEP shares traded lower by 2.40% at $73.42 on the last check Monday.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 2:02 pm

DVN

A significant amount of unusual options activity has been detected for Devon Energy (NYSE:DVN), with a majority of investors taking a bearish stance. The trades range from $40.0 to $55.0 for Devon Energy over the last 3 months. The current price of DVN is down -1.99% at $46.75. Citigroup and Mizuho have maintained their Buy rating on Devon Energy, with price targets of $55 and $62 respectively.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 2:01 pm

ARM

BIRK

CART

KVYO

Birkenstock Holding is planning an IPO with a targeted valuation of up to $9.2 billion. The company plans to sell approximately 10.75 million shares for between $44 and $49 per share. Private-equity firm L Catterton will offer another 21.5 million shares, bringing the total share count to approximately 32.3 million shares. The company expects to have around 187.8 million shares outstanding following the offering. Birkenstock has applied to list its shares on the NYSE under the ticker symbol 'BIRK'.

Portfolio Pulse from Adam Eckert

October 02, 2023 | 1:57 pm

MEDIF

TLRY

MediPharm Labs Corp. has settled a commercial agreement dispute with Tilray's Hexo for $9 million. The dispute was over a long-term supply agreement for cannabis concentrates. As part of the settlement, Hexo will abandon its appeal against MediPharm. The settlement includes a $3 million immediate cash payment, $4.5 million in Tilray common shares, $1 million in Tilray cannabis products, and a $500,000 supply agreement to provide Tilray with MediPharm products and services over four years.

Portfolio Pulse from Nina Zdinjak

October 02, 2023 | 1:49 pm

NFLX

A significant amount of unusual options activity has been observed for Netflix (NASDAQ:NFLX), with a majority of investors taking a bullish stance. The price range targeted by these investors over the last three months is between $370 and $500. However, expert opinions vary, with price targets ranging from $293 to $500. The current price of NFLX is $377.08, down by 0.14%, and the next earnings are expected in 16 days.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 1:46 pm

SVFD

Save Foods, Inc. (NASDAQ:SVFD) has increased its investment in Plantify Foods, Inc. (TSXV:PTFY) by purchasing an additional 55,004,349 common shares, making it the largest shareholder with 23.13% of Plantify's issued and outstanding share capital. Save Foods' CEO, David Palach, expressed his belief in Plantify's potential and commitment to sustainable food production. The decision to increase the investment was based on the potential synergies between the two companies and the rapid global growth in interest and sales of Plantify's products.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 1:15 pm

BTCUSD

ETHUSD

Invesco and Galaxy Digital have filed for a spot Ethereum ETF named Invesco Galaxy Ethereum ETF. This move involves Galaxy Digital Funds which will manage the sale of Ethereum. The ETF will directly hold ether. Futures-based Ether ETFs are expected to open trade soon. Other companies such as VanEck, Valkyrie, Bitwise, and Hashdex are also preparing to launch their Ether ETFs.

Portfolio Pulse from Khyathi Dalal

October 02, 2023 | 1:00 pm