Streetbeat News

Equity Actions

BMY

Bristol-Myers Squibb's (NYSE:BMY) short percent of float has fallen 17.97% since its last report, with 43.76 million shares sold short, which is 2.1% of all regular shares available for trading. It would take traders 4.46 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average for short interest as a percentage of float being 4.22%.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 2:00 pm

CGC

Canopy Growth Corp (NASDAQ:CGC) announced a private placement of up to $50 million, causing its shares to trade lower. The company entered into subscription agreements with institutional investors for a private placement of nearly 23 million units at $1.09 per unit. The private placement is expected to result in gross proceeds of approximately $25 million, potentially climbing to $50 million. Canopy intends to use the additional liquidity for working capital and general corporate purposes.

Portfolio Pulse from Adam Eckert

September 18, 2023 | 1:58 pm

AGRI

AVGR

CGC

ELWS

SQL

SSKN

WORX

US stocks traded mostly higher with the Dow Jones gaining over 50 points. Energy shares rose by 0.8% while real estate shares fell by 0.8%. Canopy Growth Corporation (CGC) entered into subscription agreements with institutional investors in a private placement offering. SCWorx Corp. (WORX), Avinger, Inc. (AVGR), and SeqLL Inc. (SQL) saw their shares rise significantly. Earlyworks Co., Ltd (ELWS), STRATA Skin Sciences, Inc. (SSKN), and AgriFORCE Growing Systems Ltd. (AGRI) saw their shares drop.

Portfolio Pulse from Lisa Levin

September 18, 2023 | 1:53 pm

VLO

Valero Energy's board has authorized a share repurchase of up to $2.5 billion, leading to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:50 pm

NVDA

A large bearish position on NVIDIA (NASDAQ:NVDA) has been noticed, with 48 uncommon options trades spotted. The sentiment of these trades is split between 47% bullish and 52% bearish. Whales have been targeting a price range from $400.0 to $500.0 for NVIDIA over the last 3 months. The price of NVDA is currently down -3.0% at $425.84. Several experts have maintained or upgraded their ratings on NVIDIA, with price targets ranging from $600 to $1100.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 1:47 pm

NEPT

Neptune Wellness Solutions Inc. (NASDAQ:NEPT) has announced plans to spin out a majority of its equity interest in Sprout Organics, an organic baby food and toddler brand, to its shareholders. The move is part of a strategic plan to enhance the company's value and reduce operating costs and debt exposure. The spinout is subject to several conditions including legal and tax structuring analyses, financial analysis, regulatory approvals, and listing of Sprout shares on a stock exchange.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:42 pm

ADES

Advanced Emissions Solutions, Inc. (NASDAQ:ADES) has appointed Jeremy 'Deke' Williamson as its new Chief Operating Officer, effective from September 18, 2023. Williamson, a former Senior Vice President of Production and Distribution Operations at Hi-Crush, Inc., will leverage his experience in plant operations and construction projects to support the expansion of ADES's Red River and Corbin plants.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:36 pm

STM

STMicroelectronics Inc.'s (NYSE:STM) shares are currently trading at $43.70, after a 0.14% drop. Despite a fall of 8.21% over the past month, the stock has risen by 21.09% over the past year. The company's P/E ratio is lower than the industry average, which could indicate undervaluation or weak growth prospects.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 1:33 pm

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