Streetbeat News

Equity Actions

IOT

Spruce Point Capital Management has issued a strong sell research opinion for Samsara Inc (NYSE:IOT), citing substantial long-term downside risk of 45% to 75%. The report highlights concerns about Samsara's reliance on hardware, accounting practices, security vulnerabilities, limited market penetration, and inflated valuation. IOT shares are down 4.16% at $24.17.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 4:08 pm

LULU

Lululemon Athletica (NASDAQ:LULU) has seen unusual options activity, with a mix of bullish and bearish trades. Whales have been targeting a price range from $320.0 to $410.0 for Lululemon over the last 3 months. The company's stock price is currently down by 0.65% at $389.32. Analysts from Wells Fargo, Morgan Stanley, Keybanc, and Piper Sandler maintain their Overweight rating on Lululemon, with price targets ranging from $437 to $455. However, Wedbush downgraded its action to Outperform with a price target of $415.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 3:47 pm

XJET

XJet Ltd (NASDAQ:XJET) is set to start trading on the NASDAQ exchange on September 22. The company is offering shares at an expected price of $4.00 per share with an insider lock-up period of 180 days ending on March 20, 2024. XJet Ltd develops and manufactures unique additive manufacturing solutions.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 3:00 pm

ATVI

EA

GOOG

Proof of Play, a game studio established by veterans from Epic Games, Zynga, EA, Activision, and Google, has raised $33 million in seed funding. The funding will be used to further develop Pirate Nation, an onchain pirate-themed RPG, and support other innovative onchain gaming projects. The company aims to integrate blockchain technology into gaming and simplify entry into the world of onchain gaming.

Portfolio Pulse from Jose Rodrigo Safdiye

September 21, 2023 | 3:00 pm

GPAK

Gamer Pakistan Inc (NASDAQ:GPAK) is set to IPO on September 22, with shares expected to be priced between $4.00 and $5.00. The company, which focuses on promoting esports events and product marketing, has an insider lock-up period of 180 days ending on March 20, 2024.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 3:00 pm

UPTD

TradeUP Acquisition's shares are trading higher following the company's announcement of buybacks and a potential short squeeze.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 2:46 pm

CELH

KO

The Bear Cave newsletter has issued a short report on Coca-Cola (KO), highlighting several challenges the beverage giant is facing. These include a changing advertising landscape favoring new entrants, internal cultural issues, and reduced demand due to weight loss drugs. The report also points out the success of upstart brands like Prime and Celsius (CELH), which have grown rapidly through social media and influencer partnerships.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 2:32 pm

TRNS

Transcat Inc (NASDAQ:TRNS) has priced its underwritten public offering of 736,845 shares at $95.00 per share, a 12.5% discount to its closing price as of September 20, 2023. The company expects to raise approximately $65.2 million from the offering, which it plans to use to repay its credit facility, for working capital, and other general corporate purposes. The offering is expected to close on September 25, 2023. Following the news, TRNS shares are trading lower by 9.87% at $97.94.

Portfolio Pulse from Shivani Kumaresan

September 21, 2023 | 2:30 pm

FOXA

NWSA

Rupert Murdoch is set to step down as chairman of Fox Corp (NASDAQ:FOXA) and News Corp (NASDAQ:NWSA) in mid-November. His son, Lachlan Murdoch, will take over as sole chair of News Corp and continue as executive chair and CEO of Fox. The announcement comes after Fox agreed to pay a $787.5-million settlement to Dominion Voting Systems in April and a year ahead of the 2024 presidential election.

Portfolio Pulse from Adam Eckert

September 21, 2023 | 2:14 pm

SEEL

Seelos Therapeutics has announced a $4.5 million registered direct offering of 15 million shares at $0.30 per share, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 2:13 pm