Streetbeat News

Equity Actions

ORCL

DZ Bank analyst Ingo Wermann has upgraded Oracle (NYSE:ORCL) from Hold to Buy and set a price target of $125.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 11:55 am

GWAV

Greenwave Technology Solutions, Inc (NASDAQ:GWAV) has launched ScrapApp.com, a mobile application for the scrap metal industry. The app, which is initially focused on junk cars, will use AI to optimize profit margins. Greenwave plans to use its proprietary data to train a large language model for the $41.4 billion scrap metal industry. The company also plans to develop an AI quoting system for metal from construction and demolition projects, list the nearest scrap yards with their real-time prices, and introduce a points-based rewards system.

Portfolio Pulse from Anusuya Lahiri

September 14, 2023 | 11:50 am

GENI

Genius Sports Limited (NYSE:GENI) has announced the commencement of a public offering of 20 million ordinary shares by an affiliate of investment funds advised by Apax Partners LLP. The underwriter has a 30-day option to purchase up to an additional 3 million shares. Genius Sports is not selling any shares and will not receive any proceeds from the offering.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 11:06 am

MEC

Mayville Engineering Company (MEC) has reiterated its full-year 2023 financial guidance and introduced its full-year 2026 financial targets. For 2023, the company expects net sales of $580M-$610M, adjusted EBITDA of $66M-$71M, and capital expenditures of $15M-$20M. For 2026, MEC projects net sales of $750M-$850M, adjusted EBITDA of $105M-$135M, an adjusted EBITDA margin of 14%-16%, and free cash flow of $65M-$75M.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 10:46 am

ICCT

iCoreConnect has entered into a purchase agreement with Arena Business Solutions Global SPC II, Ltd. to purchase up to $40M of ICCT common stock.

Portfolio Pulse from Charles Gross

September 14, 2023 | 10:08 am

MYTE

Mytheresa (MYTE) has projected its FY24 Gross Merchandise Value (GMV) and net sales growth to be between 8% and 13%. The company also expects its gross profit growth to be in the same range, while its adjusted EBITDA margin is anticipated to be between 3% and 5%.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 10:06 am

ALV

AMPX

IBEX

IE

PCT

SPCE

VTLE

Several stocks recorded losses in Thursday's pre-market trading session. PureCycle Technologies (PCT) shares fell 14.6%, Ivanhoe Electric (IE) dipped 12.2% after pricing its public offering, IBEX Limited (IBEX) declined 11.1% following downbeat Q4 results and weak FY24 revenue outlook, Vital Energy (VTLE) fell 8.4% after announcing a public offering and plans for senior notes, Amprius Technologies (AMPX) declined 7%, Autoliv (ALV) fell 4.4%, and Virgin Galactic (SPCE) declined 2.6%.

Portfolio Pulse from Lisa Levin

September 14, 2023 | 10:06 am

ARKK

TSLA

Ark Invest, led by Cathie Wood, sold 51,155 Tesla shares on Wednesday, amounting to $13.88 billion. This comes after Tesla's stock rallied by 9% this week. Despite the sale, Tesla remains the top holding of Ark's flagship ETF, the Ark Innovation ETF (ARKK), with an 11.38% weighting. Ark has been selling Tesla stock since mid-June, even amid the stock's weakness following Tesla's Q2 earnings release.

Portfolio Pulse from Shanthi Rexaline

September 14, 2023 | 10:01 am

IE

Ivanhoe Electric Inc (NYSE:IE) has priced an underwritten public offering of 11.9 million shares at $13.50 per share, a 12.3% discount to the company’s closing price as of Sept. 13, 2023. The company has also granted the underwriters a 30-day option to purchase up to an additional 1.8 million shares at the public offering price. The gross proceeds from the offering are expected to be approximately $160 million. The company intends to use the net proceeds for a feasibility study on the Santa Cruz Project, mineral rights payments, drilling and other exploration activities, and general corporate purposes.

Portfolio Pulse from Shivani Kumaresan

September 14, 2023 | 9:57 am

TSLA

Tesla's supplier, CNGR, is considering an initial public offering (IPO) for its battery metal unit in Indonesia, according to Bloomberg.

Portfolio Pulse from Charles Gross

September 14, 2023 | 9:39 am