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Equity Actions

ETHUSD

On Monday, 3,429.16 Ether (ETH) worth $5,645,564 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -1.94%.

Portfolio Pulse from Benzinga Insights

September 19, 2023 | 6:00 pm

CNHI

DE

DIS

Major indexes are down due to rising Treasury yields ahead of the Federal Reserve's decision this week. Stocks are also being pressured by weakness in Disney, Deere and CNH Industrial.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 5:42 pm

GE

GEHC

Citi has initiated coverage on GE HealthCare Technologies Inc (NASDAQ:GEHC) with a Buy rating and a price target of $82. GEHC was spun off from General Electric (NYSE:GE) in January 2023, with GE retaining a 19.9% stake, later reduced to 13.5%. In 2022, GEHC reported sales of over $18 billion. GEHC shares are currently down 0.78% at $65.77.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 5:36 pm

ELUT

Elutia Inc (NASDAQ:ELUT) announced a private placement financing of approximately $10.5 million. The full exercise of warrants included in the financing would add $15.8 million for total gross proceeds of $26.2 million. Elutia also announced to divest its Orthobiologics business unit to Berkeley Biologics, a subsidiary of GNI Group Ltd, for up to $35 million. The company is seeking FDA clearance for its flagship drug-eluting product, CanGaroo RM, and plans to launch it in the first half of 2024.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 5:19 pm

FLGC

Flora Growth Corp. (NASDAQ:FLGC) has announced a registered direct offering and concurrent private placement, aiming to raise approximately $2.7 million. The company plans to sell 1,369,000 common shares and warrants to institutional investors. The proceeds will be used to increase operating capacity, for working capital, and for other general corporate purposes. The offering is expected to close on September 21, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 5:19 pm

LGND

Ligand Pharmaceuticals has entered into a merger agreement with Primrose Bio, making its subsidiary, Pelican Technology Holdings, a wholly owned subsidiary of Primrose Bio. Ligand retains commercial royalties related to Pelican Expression Technology and will own 49.9% of Primrose Bio. Ligand has also updated its annual guidance, increasing adjusted EPS guidance and modifying revenue guidance.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 5:16 pm

CART

Josh Brown announced on CNBC that he has sold his shares in Instacart. The ticker symbol CART may have been mentioned in the discussion.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 5:01 pm

CART

Instacart's initial public offering (IPO) shares have started trading at $41.76, significantly higher than the IPO price of $30 per share.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 4:50 pm

NOW

A significant investor has taken a bearish stance on ServiceNow (NYSE:NOW), with 60% of recent trades being bearish and 40% bullish. The total amount for puts is $174,820 and for calls is $299,400. Whales have been targeting a price range from $450.0 to $600.0 for ServiceNow over the last 3 months. The current price of NOW is down -1.78% at $568.24. HSBC has downgraded its action to Buy with a price target of $704.

Portfolio Pulse from Benzinga Insights

September 19, 2023 | 4:46 pm

CART

DASH

UBER

Instacart is set to debut on the Nasdaq under the symbol 'CART' with an IPO price of $30 per share, totaling 22 million shares. Current indications suggest an opening trade at $42. The company's CEO, Fidji Simo, discussed the company's performance and future plans, emphasizing its competitive edge due to deep integration with grocers. The advertising segment of the business, accounting for nearly 30% of the total revenue, is also gaining attention.

Portfolio Pulse from AJ Fabino

September 19, 2023 | 4:33 pm