Streetbeat News

Equity Actions

IREN

Iris Energy Ltd has entered into an at-market issuance sales agreement to offer up to $300 million of common stock, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:50 pm

COTY

Coty Inc. has announced that it has filed for a stock shelf offering, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:31 pm

TMUS

T-Mobile (NASDAQ:TMUS) has announced its second corporate venture capital fund aimed at fueling the development of next-generation connected products and services. The fund will support private mid- and growth-stage companies to leverage T-Mobile's 5G network for future growth areas.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:25 pm

SRFM

TXT

Surf Air Mobility (SRFM) has confirmed its exclusive relationship with Textron Aviation, a Textron Inc. (TXT) company, and announced an initial fleet order of 100 Cessna Grand Caravan EX aircraft, with an option for 50 more. Deliveries of the first 20 aircraft are expected to begin in the first half of 2024. The aircraft will be upgraded to Surf Air Mobility's proprietary electric or hybrid-electric powertrain technology. Surf Air Mobility aims to make electrified aircraft broadly available and bring the benefits of lower cost, lower emission air travel at scale to customers.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:09 pm

ONCY

Oncolytics Biotech, Inc. (NASDAQ:ONCY) has been selected by the Pancreatic Cancer Action Network (PanCAN) to receive a $5 million Therapeutic Accelerator Award. The award is in recognition of Oncolytics' work on pelareorep, an investigational immunotherapy treatment for pancreatic cancer. The grant will fund the next stage of research, which includes a clinical trial of pelareorep in combination with modified FOLFIRINOX chemotherapy. If successful, the treatment may advance to late-stage clinical development through the PanCAN Precision Promise adaptive clinical trial platform.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:02 pm

ACST

Acasti Pharma Inc. has announced a $7.5 million private placement equity financing. The funds will be used for general corporate purposes.

Portfolio Pulse from Bill Haddad

September 26, 2023 | 12:01 pm

EADSY

Airbus SE (OTC:EADSY) has appointed Christian Scherer as the CEO of its Commercial Aircraft business. This move is part of a significant leadership reshuffle aimed at strengthening the company's Commercial Aircraft business. The new organizational structure is expected to be implemented from January 1, 2024. EADSY shares closed lower by 0.61% to $32.60 on Friday.

Portfolio Pulse from Nabaparna Bhattacharya

September 26, 2023 | 11:59 am

TSLA

VGK

Tesla Inc. is under investigation by the European Union for potentially benefiting from Chinese subsidies. The probe was initiated after evidence suggested that Tesla, among other companies, may have benefited from these subsidies. This could lead to levies aimed at offsetting the subsidies.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:54 am

BYDDY

HYMTF

KIMTF

Hyundai Motor Co and Kia Corp plan to reduce the prices of several electric vehicles (EVs) in response to the South Korean government's decision to expand subsidies for clean vehicles. The price cuts, which will affect models such as the Ioniq 5, Ioniq 6, Kona EV, EV6, Niro EV, and Niro Plus, are set to begin next month and last until the end of 2023. This move could intensify the price competition in the South Korean automotive industry and potentially increase international tension surrounding EV pricing.

Portfolio Pulse from Shivani Kumaresan

September 26, 2023 | 11:39 am

BABA

FXI

JD

KWEB

PDD

Alibaba Group Holding Limited (NYSE:BABA) plans to spin off Cainiao Smart Logistics Network Limited with a separate listing on the Hong Kong Stock Exchange, while retaining majority shareholding. This comes amid concerns over China's property sector, affecting Alibaba's stock and broader indexes like iShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB). The global e-commerce sector is shifting towards discount retailing due to China's economic issues and inflation in the U.S. and Europe. Despite growth reported by Alibaba and JD.com Inc (NASDAQ:JD), PDD Holdings Inc (NASDAQ:PDD) reported a 66% YoY revenue increase, outperforming both.

Portfolio Pulse from Anusuya Lahiri

September 26, 2023 | 11:28 am