Streetbeat News

Equity Actions

LCID

NKLA

TM

TSLA

VFS

Electric vehicle (EV) stocks fell this week due to the Federal Reserve's hint at continuing its rate-tightening cycle. Tesla (TSLA) is rumored to pause Model Y production at its Giga Texas plant, causing concerns about Q3 deliveries. Lucid Group (LCID) received an operating license to begin production in Saudi Arabia. Nikola Corp. (NKLA) appointed Mary Chan as its new COO, causing the stock to spike by 38%. Toyota (TM) plans to triple EV production by 2025. VinFast Auto (VFS) plans to expand into Europe and India.

Portfolio Pulse from Shanthi Rexaline

September 23, 2023 | 4:53 pm

F

GM

STLA

President Joe Biden announced his plans to join the picket line in Michigan on Tuesday, expressing solidarity with the striking workers of the United Auto Workers (UAW) union. The union has expanded its strike to include more assembly plants and distribution centers belonging to General Motors Co (GM) and Stellantis NV (STLA), while limiting the strike against Ford Motor Co (F) to the Michigan assembly plant due to progress in negotiation talks.

Portfolio Pulse from Anan Ashraf

September 23, 2023 | 2:51 am

PMN

ProMIS Neurosciences Inc has filed for a shelf of up to 22.1 million common shares by selling stockholders, according to a SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:54 pm

GIA

GigCapital5, Inc. (NASDAQ:GIA) has confirmed that it is considering Non-Redemption Agreements with non-affiliate stockholders of GigCapital5 common stock. This is in line with the Settlement Agreement that GigCapital5, QT Imaging, Inc., and the John C. Klock, Jr. and Cynthia L. Klock Trust entered into on September 21, 2023. QT Imaging plans to issue shares of its common stock that will convert into GigCapital5 Shares prior to the closing of the Business Combination.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:49 pm

SLB

A significant amount of unusual options activity has been observed for Schlumberger Limited (NYSE:SLB), with a majority of investors taking a bearish stance. Whales have been targeting a price range from $52.5 to $70.0 for SLB over the last 3 months. The current price of SLB is $59.04, up 0.37%. Citigroup, Susquehanna, and Piper Sandler have maintained their positive ratings on SLB with price targets of $70, $72, and $77 respectively.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 8:45 pm

DOMH

Robert J. Vander Zanden, the Chairman of the Board at Dominari Holdings, has resigned effective immediately. The Board has unanimously appointed Anthony Hayes as the new Chairman, effective from September 21, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:43 pm

GT

Goodyear Tire & Rubber Co has proposed a plan that will result in the exit of nine warehouse locations and the sale or exit of about 100 retail and fleet store locations. These actions are expected to improve the company's Asia Pacific segment operating income by approximately $50M-$55M in 2025, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:41 pm

GT

Goodyear Tire & Rubber Co has approved a rationalization plan in the Asia Pacific to improve profitability in its Australia and New Zealand operations. The proposed plan will lead to a reduction of approximately 700 positions.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:39 pm

SWX

Southwest Gas Holdings, Inc. (NYSE:SWX) has announced that its subsidiary, Centuri Group, Inc., has confidentially submitted a draft registration statement for a proposed initial public offering (IPO) of newly issued Centuri common stock. The number of shares and the price range for the offering have not been determined yet. The IPO is subject to market conditions and the completion of the SEC's review process.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:34 pm

VCNX

Vaccinex, Inc. (NASDAQ:VCNX) has announced a 1-for-15 reverse stock split of its issued common stock, effective from September 25, 2023. The move is aimed at regaining compliance with the $1.00 minimum bid price requirement of The Nasdaq Capital Market. The company's shares will continue to trade under the symbol 'VCNX'. The reverse stock split will not alter any stockholder's percentage ownership interest in the company's equity, except for the rounding up of fractional shares to whole shares.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:33 pm