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Equity Actions

CGC

Canopy Growth Corp (NASDAQ:CGC) shares are trading lower by 6.7% after the company filed for an offering of up to 45.9 million shares of common stock by the selling securityholders. The company will not receive proceeds from the sale of the shares but would receive approximately $31 million upon the full exercise of the warrants held by the selling securityholders. The proceeds will be used for general corporate purposes.

Portfolio Pulse from Henry Khederian

September 21, 2023 | 1:41 pm

DRI

Darden Restaurants Inc reported Q1 FY24 sales growth of 11.6% YoY to $2.73 billion, beating the analyst consensus estimate. The growth was driven by a 5.0% increase in same-restaurant sales and sales from 77 new Ruth's Chris Steak House restaurants. The company declared a quarterly cash dividend of $1.31 per share and elected Cynthia T. Jamison as the new Chair of the Board. DRI reaffirmed its FY24 adjusted EPS guidance of $8.55 - $8.85.

Portfolio Pulse from Shivani Kumaresan

September 21, 2023 | 1:39 pm

IOT

Spruce Point Capital Management has released a report expressing a strong sell opinion on Samsara Inc. (NYSE:IOT). The report highlights concerns over Samsara's accounting policies, financial reporting, revenue growth risks, competitive position, and governance. It also questions the company's upside potential related to AI and sees a 45% to 75% long-term downside risk to Samsara's share price.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 1:20 pm

FOXA

NWS

Rupert Murdoch is stepping down as chairman of Fox Corporation and News Corp, to be appointed Chairman Emeritus of each company. His son, Lachlan Murdoch, will become the sole Chair of News Corp and continue as Executive Chair and CEO of Fox Corporation.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 1:16 pm

SEEL

Seelos Therapeutics, Inc. (NASDAQ:SEEL) has announced a registered direct offering of 15,000,000 shares of common stock and warrants to purchase up to 10,010,010 shares of common stock at a combined offering price of $0.30 per share. The offering is expected to generate gross proceeds of approximately $4.5 million. The proceeds will be used for general corporate purposes, to advance the development of its product candidates and to repay approximately $0.7 million under a convertible promissory note.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 1:10 pm

HGBL

Heritage Global Inc. has announced the filing of Form S-3 to replace its expired shelf registration statement. This move allows the company to sell securities in the future without a delay.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 1:03 pm

CRLBF

TCNNF

Cresco Labs Inc. is expanding its cannabis brand portfolio in Florida to include the FloraCal and Cresco brands. The company will roll out these products at Florida-based Sunnyside dispensaries starting next week. Cresco recently opened its 33rd medical cannabis store in the state, positioning itself as a main competitor to Trulieve Cannabis Corp., which has over 120 dispensaries in Florida. Other companies positioning themselves for potential legalization of recreational marijuana in Florida include Planet 13 and AYR Wellness, Inc.

Portfolio Pulse from Jelena Martinovic

September 21, 2023 | 12:54 pm

BTCUSD

ETHUSD

HAL

MCD

SPY

The article covers a range of topics including US markets, crypto, politics, economy, electric vehicles, tech, consumer, communication, industrial, space, and financial. Key points include insider selling of McDonald's and Halliburton stocks, tech and small-cap stocks shuddering due to high bond yields, and investor optimism falling after the Fed keeps rates steady. In crypto, ImmutableX's token surges 35% while Bitcoin, Ethereum, and Dogecoin trail. In tech, Google ditches Broadcom for Marvell amid AI chip wars, and Amazon faces pushback on new fees. In consumer news, Starbucks announces a dividend hike. In communication, Elon Musk's X is closer to 'Everything App' goal.

Portfolio Pulse from Akanksha Bakshi

September 21, 2023 | 12:50 pm

AREC

American Resources Corporation's subsidiary, ReElement Technologies, has secured $46 million in local incentives from Marion, Indiana for its 42-acre critical mineral refining campus. The campus will produce ultra-pure battery elements and rare earth elements for EV battery and permanent magnet supply chains. The incentives are in the form of an Economic Development Revenue Bond issued by the city. The campus will have an initial production capacity of 5,000 metric tons of ultra-pure lithium hydroxide or carbonate per year, and 750 metric tons per year of rare earth oxides.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 12:39 pm

SASI

Sigma Additive Solutions, Inc. (NASDAQ:SASI) has announced a 1-for-20 reverse stock split to regain compliance with Nasdaq's minimum bid price per share requirement and facilitate strategic transactions. The company's common stock will begin trading on a split-adjusted basis on September 22, 2023, under the symbol 'SASI'. The reverse stock split will reduce the number of shares from approximately 12,227,135 to around 611,357.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 12:36 pm