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ETN

Eaton Corporation announced a $150 million investment to increase the supply of its electrical power distribution solutions. This has led to a decrease in the company's share price.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 7:01 pm

SNBR

Sleep Number has issued a statement regarding a shareholder letter, stating that the board has put together a proposal demonstrating that it has listened closely to Stadium Capital. The proposal offers Stadium Capital the opportunity to participate in the selection of a new independent director. Sleep Number's board and management team have engaged in regular discussions with Stadium Capital to better understand its views. The company remains confident in its strategy and is focused on strengthening its brand, culture, and competitive advantages.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:37 pm

SNBR

Stadium Capital Management has issued a letter to Sleep Number's board of directors, criticizing the board's poor corporate governance practices, capital allocation, and shareholder returns. The firm also expressed disappointment with the board's rejection of an offer to collaborate on director refreshment and urged the board to meet with them to understand shareholders' concerns.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:34 pm

DIS

GBTC

This week's investment news highlights include the potential end of disinflation due to rising oil prices, the falling Japanese yen, the possibility of a Bitcoin ETF following a lawsuit win by Grayscale, Disney's lack of shareholder value creation over the past decade, and mixed data on unemployment. The news suggests potential impacts on the stocks of Grayscale Bitcoin Trust (GBTC) and Disney (DIS).

Portfolio Pulse from Gary Brode

September 13, 2023 | 6:09 pm

AVTX

EIGR

HRT

RCKT

REVG

Several stocks experienced significant price movements in Wednesday's mid-day session. Eiger BioPharmaceuticals shares dropped by 52.5% after the company decided to discontinue a Phase 3 study. Avalo Therapeutics shares surged by 68% after receiving a notice from Nasdaq. Rocket Pharmaceuticals rose by 31.8% after reaching alignment with the FDA on a global Phase 2 trial. HireRight Holdings climbed by 14.8% after planning an additional $25 million share repurchase program. REV Group surged by 9.2% after reporting better-than-expected Q3 results and raising FY23 net sales guidance.

Portfolio Pulse from Lisa Levin

September 13, 2023 | 6:07 pm

MRNA

During the Investor Day Conference, a Moderna executive stated that the total respiratory vaccine market could reach up to $30 billion. This suggests a significant potential for growth in the vaccine market.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:05 pm

HRT

HireRight has announced an additional $25 million share repurchase program, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:03 pm

C

Citigroup Inc's CEO Jane Fraser is restructuring the bank's upper management tiers to streamline the organization. The bank will abolish its division into two segments and remove the international layer overseeing global regions. The new model will eliminate several management layers and the heads of the five core businesses will report directly to Fraser. The exact number of job cuts resulting from these changes has not been disclosed. Citigroup's shares are up 2.22% at $42.61.

Portfolio Pulse from Vandana Singh

September 13, 2023 | 5:59 pm

C

Citigroup has announced an organizational structure change, which has led to an increase in the company's share price.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 5:57 pm

HOTH

Hoth Therapeutics has announced a registered direct offering of 1.1 million shares of its stock, priced at-the-market under Nasdaq rules. The offering is expected to raise $2.89 million.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 5:47 pm