Streetbeat News

Equity Actions

SKIL

Skillsoft has announced a 1-for-20 reverse stock split. This action is typically taken by companies to boost their share price and meet listing requirements.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:05 pm

Permian Resources Corporation (NYSE:PR) has announced a secondary public offering of 20.3 million shares of its Class A Common Stock. The shares are being sold by affiliates of NGP Energy Capital Management, not by Permian Resources itself. The company also plans to purchase 2.2 million common units from the selling stockholders. J.P. Morgan, BofA Securities, and Truist Securities are serving as joint book-running managers for the offering.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:02 pm

FRTX

Fresh Tracks Therapeutics has announced that its board has approved a plan of liquidation and dissolution. The company is discontinuing all clinical and preclinical development programs and reducing its workforce.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:02 pm

PINS

Pinterest, Inc. (NYSE:PINS) has appointed Scott Schenkel, former CFO and Interim CEO of eBay, to its Board of Directors. Schenkel has a strong background in finance and ecommerce, having served in leadership roles at eBay and General Electric. He also currently serves on the Board of Directors at NetApp and Forter.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 7:56 pm

FLGC

Flora Growth has announced the pricing of a $2.7 million registered direct offering and concurrent private placement, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 7:53 pm

MRK

A significant bearish stance has been taken on Merck & Co (NYSE:MRK) by a large investor or institution, as evidenced by unusual options activity. The overall sentiment of these big-money traders is 86% bearish. The whales have been targeting a price range from $87.5 to $115.0 for Merck & Co over the last 3 months. The price of MRK is currently down -0.45% at $107.34. Cantor Fitzgerald has downgraded its action to Overweight with a price target of $135.

Portfolio Pulse from Benzinga Insights

September 19, 2023 | 7:46 pm

HSCS

Heart Test Laboratories has disclosed a prospectus for a $50 million offering, according to a FormS filing. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 7:40 pm

ADSK

AVGO

BLK

CSCO

INTC

JPM

LMT

MMM

PYPL

TSLA

UBS

S&P 500 companies are increasingly investing in politically aligned nations, sidestepping China, according to a Bloomberg Economics analysis. The study found that cost-effectiveness is no longer the primary factor for companies investing abroad. Instead, companies are more likely to make significant investments in like-minded countries. In 2022, $1.2 trillion were made in greenfield foreign direct investments (FDI), with $180 billion (or 15%) shifting from countries not condemning Russia's invasion of Ukraine to those who did. Companies including BlackRock, Coca-Cola, Tesla, 3M, Paypal, JP Morgan Chase, Citigroup, Lockheed Martin, Broadcom, Cisco Systems, Intel, Mastercard, Ford, UBS Group, and Autodesk have mentioned 'geopolitics' more frequently in earnings calls.

Portfolio Pulse from Natan Ponieman

September 19, 2023 | 7:38 pm

JPM

Morgan Stanley has introduced a financial assistant powered by OpenAI’s generative AI software, marking Wall Street's entry into the generative AI domain. The AI-driven assistant is now operational for all the bank's financial advisors and their auxiliary staff. The tool offers advisors access to the institution’s expansive 'intellectual capital,' comprising roughly 100,000 research reports and documents. Morgan Stanley sees the tool as being the first in a lineage of generative AI-based solutions.

Portfolio Pulse from AJ Fabino

September 19, 2023 | 7:25 pm

AXLA

Axcella Health has commenced a previously announced 1-for-25 reverse stock split, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 7:24 pm