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Equity Actions

IEP

NWL

Newell Brands announced that the Director Appointment & Nomination Agreement between Icahn Group and the company, dated March 18, 2018, has been terminated. Additionally, Gaoxiang Hu and David Willetts have resigned from the company's Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:30 pm

CCG

PIAI

Cheche Group Inc. and Prime Impact have completed their business combination, with Cheche's Class A ordinary shares and warrants set to begin trading on the Nasdaq under the ticker symbols 'CCG' and 'CCGWW' respectively. The business combination is expected to generate approximately $22.1 million in proceeds for Cheche. The company plans to use the funds to invest in its technology platform, strategic partnerships with leading NEV manufacturers, and growth plans across key segments of the global insurance market.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:12 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) is raising $50 million through a private placement offering of 22.93 million units at $1.09 per unit to strengthen its financial position. The investors also have an over-allotment option to acquire up to an additional 22.93 million units at the same price. The funds are expected to be used for working capital and other general corporate purposes. The news led to a 14.91% drop in Canopy's pre-market share price.

Portfolio Pulse from Nina Zdinjak

September 18, 2023 | 1:10 pm

SBUX

Starbucks Corp (NASDAQ:SBUX) has promoted Molly Liu to executive vice president and co-CEO of Starbucks China, effective October 2, 2023. Liu has served as Starbucks China's COO since 2021 and previously served as the company's VP of Digital Ventures. The company aims to operate 9,000 stores across 300 Chinese cities by 2025 and create more than 10,000 additional jobs annually. SBUX shares are trading higher by 0.07% at $96.30 in premarket on the last check Monday.

Portfolio Pulse from Shivani Kumaresan

September 18, 2023 | 1:08 pm

INTC

Intel has announced the development of industry-leading glass substrates for next-generation advanced packaging, which will enable the continued scaling of transistors in a package and advance Moore's Law. The glass substrates offer properties such as ultra-low flatness and better thermal and mechanical stability, resulting in higher interconnect density in a substrate. This will allow chip architects to create high-density, high-performance chip packages for data-intensive workloads such as AI. Intel plans to deliver complete glass substrate solutions to the market in the second half of this decade.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:03 pm

CGC

Canopy Growth Corporation has announced a private placement of up to $50 million, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:01 pm

IBEX

IBEX Limited (NASDAQ:IBEX) has announced a share repurchase program, under which the company may repurchase up to $30 million of its shares over the next 6 months. The repurchase program reflects the board's and management's confidence in the company's growth trajectory. The company's proposed repurchases may be made through various means, depending on market conditions and in accordance with applicable rules and regulations. The program does not obligate the company to acquire any particular amount of ordinary shares, and it may be suspended or discontinued at any time at the company's discretion.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:00 pm

KIM

Kimco Realty has announced a $500 million offering of common stock, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 12:50 pm

GPP

GPRE

Green Plains Inc. (GPRE) and Green Plains Partners LP (GPP) have announced a definitive merger agreement. GPRE will acquire all publicly held common units of GPP not already owned by GPRE and its affiliates in exchange for GPRE common stock and cash. The merger is expected to simplify GPRE's corporate structure, generate near-term earnings and cash flow, reduce SG&A expense related to GPP, and improve the credit quality of the combined enterprise. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 12:34 pm

F

GM

STLA

Stellantis has increased its offer to United Auto Workers (UAW) members to include pay raises of nearly 21%, including an immediate 10% increase. The proposal comes amid ongoing strikes and is in line with proposals from Ford and General Motors. The company also offered an inflation protection measure and committed over $1 billion for improvements in pension and retirement savings plans. Meanwhile, negotiations between Ford, GM, and the UAW have resumed.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 12:27 pm