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Equity Actions

GM

Jess Bala, Director of Cadillac Planning & Product Strategy, stated at Benzinga's EV Conference that the company is prepared to sell more than 1 million units in 2025. This indicates a strong growth strategy for Cadillac, a division of General Motors (GM).

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:06 pm

PRMW

Primo Water Corp's Q2 earnings report showed a revenue growth of 4% Y/Y to $593 million, surpassing the consensus of $586.8 million. The company's gross margin expanded to 62.1% and adjusted EBITDA increased 13% Y/Y to $122 million. Primo Water also authorized a new $50 million share repurchase program and declared a dividend per share of $0.08. The company raised its FY23 revenue outlook and reaffirmed the 2024 outlook for high single-digit organic revenue growth.

Portfolio Pulse from Lekha Gupta

August 10, 2023 | 3:06 pm

SWIN

Solowin Holdings Limited (NASDAQ:SWIN) is set to IPO on August 11, with shares expected to be priced between $4.00 and $6.00. The company has an insider lock-up period of 180 days ending on February 07, 2024.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 3:00 pm

NOW

Investor Business Daily SwingTrader has reportedly purchased stock in ServiceNow (NOW).

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 2:33 pm

PLTR

Palantir Technologies Inc's (NYSE:PLTR) shares are trading higher, possibly due to repeated buying from Cathie Wood of Ark Invest. The company recently reported Q2 financial results in line with estimates, issued strong guidance, and announced a $1 billion buyback. Palantir also announced a multi-year partnership with Azule Energy. Several analysts adjusted price targets on the stock this week.

Portfolio Pulse from Adam Eckert

August 10, 2023 | 2:28 pm

SPRC

SciSparc Ltd (NASDAQ:SPRC) shares dropped by 59.8% after the company announced a proposed underwritten public offering of approximately $1.3 million. The offering includes 6.5 million ordinary shares at $0.20 per share. Aegis Capital Corp. has a 45-day option to buy additional shares up to 15% of the offering, potentially increasing total gross proceeds to around $1.5 million.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 2:25 pm

ARMK

Aramark (NYSE:ARMK) shares are trading lower by 4.1% after the company announced pricing of a secondary offering of common stock. The offering of 21,262,245 common stock shares is priced at $39.75 per share. Aramark is not involved in selling shares and won't receive any proceeds. The offering is set to close around August 11.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 2:20 pm

NKLA

Nikola Corporation's shares are trading higher after a 40% drop in the last five sessions. The volatility follows the company's Q2 financial results and an abrupt CEO transition. Nikola reported Q2 revenue of $15.36 million and a loss of 20 cents per share. CEO Michael Lohscheller stepped down due to a family health matter, and board chairman Steve Girsky assumed the CEO role. The company's shares are moving higher on above-average trading volume, attracting short sellers.

Portfolio Pulse from Erica Kollmann

August 10, 2023 | 2:19 pm

USFD

US Foods Holding Corp (USFD) reported Q2 2023 sales growth of 2.1% Y/Y to $9.01 billion, missing the consensus of $9.34 billion. Adjusted gross profit increased 8.8% Y/Y to $1.6 billion. Adjusted EBITDA grew 17.4% Y/Y to $432 million. The company repurchased 4.2 million shares worth $166 million in the quarter. US Foods revised the outlook for adjusted EPS to $2.55-$2.65 from $2.45 - $2.65 and raised adjusted EBITDA to $1.51 billion-$1.54 billion from $1.45 billion- $1.51 billion.

Portfolio Pulse from Lekha Gupta

August 10, 2023 | 2:18 pm

ATNF

180 Life Sciences Corp (NASDAQ:ATNF) announced a $3 million public offering, causing its shares to drop by 18.3% to $0.69. The offering includes 4,615,385 common stock shares and accompanying warrants priced at $0.65 per share, exercisable until October 10, 2028. The proceeds will be used for research, development, general corporate purposes, and legal expenses.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 1:50 pm