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Equity Actions

BCEL

Atreca has announced the termination of a lease and the departure of CFO Herb Cross on September 22. The company did not provide further details on the reasons behind these decisions.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:02 pm

SR

Spire Inc. (NYSE:SR) has announced that Steven L. Lindsey will become its president and CEO, effective October 1, 2023. Lindsey, who currently serves as Spire's executive vice president and COO, will succeed Suzanne Sitherwood. Lindsey has a history of building high-performance teams and delivering results, and his leadership is expected to support Spire's vision and long-term strategy for success.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:02 pm

OSA

ProSomnus Inc (NASDAQ:OSA) has raised $10 million in a convertible preferred equity offering led by Spring Mountain Capital and Cetus Capital. The funds will be used to optimize the company's operations and support its strategic growth initiatives. The company's goal is to reach cash flow breakeven while still delivering strong top-line growth.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 12:00 pm

META

TSLA

Elon Musk, CEO of Tesla, has mocked Mark Zuckerberg's $36 billion investment in the metaverse through Meta Platforms Inc. (NASDAQ:META). Musk's comment came in response to a post by Autism Capital on X, formerly Twitter. Despite the mockery, Zuckerberg remains steadfast in his belief that the metaverse represents the future of computing. However, there are concerns about the performance of Meta's social app, Horizon Worlds.

Portfolio Pulse from Ananya Gairola

September 21, 2023 | 11:59 am

CRNX

NXGN

OBIO

TAK

The article identifies four overbought health care stocks: Orchestra BioMed Holdings, Inc. (OBIO), Crinetics Pharmaceuticals, Inc. (CRNX), Takeda Pharmaceutical Company Limited (TAK), and NextGen Healthcare, Inc. (NXGN). These stocks are considered overvalued and present an opportunity to go short. The companies have recent developments such as FDA approvals, public offerings, and acquisitions.

Portfolio Pulse from Lisa Levin

September 21, 2023 | 11:51 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares could extend losses due to a rise in risk aversion toward growth stocks and company-specific news. Higher bond yields make investment in high-growth tech stocks unattractive. Tesla's production at the Giga Texas factory may remain suspended until September due to factory upgrades. The company is also facing depletion in the Model 3 inventory. Future Fund’s Gary Black expects Tesla’s third-quarter deliveries to undershoot expectations.

Portfolio Pulse from Shanthi Rexaline

September 21, 2023 | 11:35 am

WPC

W. P. Carey (WPC) has announced a strategic plan to exit its office portfolio. The majority of the office portfolio will be spun-off into a separate publicly-traded REIT. The company has also implemented an on-balance sheet office sale program to exit remaining office assets by January 2024. Assets representing over half of the office sale program ABR are in the advanced stages of a sale or have been sold.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 11:31 am

DRI

Darden Restaurants has appointed Cynthia Jamison as the Chair of the Board, succeeding Eugene Lee who recently retired.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 11:06 am

AVGO

DRI

FDS

FDX

GOOG

KBH

MRVL

QQQ

SPY

The S&P 500 and Nasdaq are set to open lower due to high bond yields affecting tech and small-cap stocks. The 10-year Treasury note yield reached a 16-year high, which could reduce risk appetite, particularly in tech stocks. FedEx Corp. (NYSE:FDX) reported positive earnings. The SPDR S&P 500 ETF Trust (NYSE:SPY) slid 0.59% to $436.06 and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.72% to $361.92 in premarket trading. Stocks such as FedEx, KB Home, Inc. (NYSE:KBH), Broadcom, Inc. (NASDAQ:AVGO), Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), Marvell Technology, Inc. (NASDAQ:MRVL), Darden Restaurants. Inc. (NYSE:DRI) and FactSet Research Systems, Inc. (NYSE:FDS) are in focus.

Portfolio Pulse from Shanthi Rexaline

September 21, 2023 | 10:57 am