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Equity Actions

CHK

SBOW

Analysts have lowered the price target for Chesapeake Energy Corp (CHK) following its announcement to sell its remaining Eagle Ford assets to SilverBow Resources Inc (SBOW) for $700 million. The analysts expect the company to use the proceeds for share repurchases or acquisitions. However, the deal is considered immaterial given the scale of CHK's other assets. The price of CHK shares has fallen by 1.8%.

Portfolio Pulse from Lekha Gupta

August 15, 2023 | 6:04 pm

BRK.A

CE

Berkshire Hathaway has reduced its stake in Celanese, leading to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 5:39 pm

RSKD

Riskified reported better-than-expected Q2 sales results, raised its FY23 revenue guidance, and authorized a $75 million share repurchase program. This has led to a rise in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 5:36 pm

NVO

Tiger Global has disclosed that it has added a stake in Novo Nordisk, leading to a rise in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 5:10 pm

DAL

UP

Delta Air Lines, Certares, and Knighthead are set to co-lead a $500 million facility in Wheels Up. As a result, the lenders will receive newly issued Wheels Up Class A common stock, leading to the lenders owning approximately 95% of the pro forma equity of the company.

Portfolio Pulse from Charles Gross

August 15, 2023 | 4:58 pm

WATT

Energous Corporation (NASDAQ:WATT) has announced a 1-for-20 reverse stock split of the company’s common stock, effective from August 16, 2023. The company's common stock will begin trading on a split-adjusted basis from the same date.

Portfolio Pulse from Charles Gross

August 15, 2023 | 4:55 pm

AMC

AMC Entertainment's shares are trading higher following a recent dip after court approval for its revised stock conversion plan.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 4:48 pm

AKTX

Akari Therapeutics announced a ratio change of its American Depository Shares from 1-representing-100 to 1-representing-2000, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 4:43 pm

AMZN

CVS

LLY

NVO

SNY

WBA

Amazon's online pharmacy has launched a new initiative to streamline the process for diabetes patients seeking discounts on their medications. The program automatically applies manufacturer-sponsored coupons to over 15 insulin and diabetes drugs. The move aims to ensure patients benefit from the discounts promised by pharmaceutical companies. The cost of insulin can be as low as $35 for a month's supply with Amazon Pharmacy's automated system. Amazon Pharmacy will also extend automatic discounts to diabetes-related devices and other cardiometabolic medications.

Portfolio Pulse from Anusuya Lahiri

August 15, 2023 | 4:41 pm

DINO

DK

MPC

PBF

PSX

VLO

Bank of America Securities analyst Doug Leggate has recommended a strategic pause for US refiners due to a combination of capacity offshoring and a sustainable cost advantage of US natural gas. He sees risks that margins are peaking and seasonal trends could pressure margins in the coming months. He views Phillips 66, Marathon Petroleum Corp, and Valero Energy Corp as defensive plays, with PBF Energy Inc most leveraged to ongoing changes. He has lowered all Buy-rated refiners to Neutral.

Portfolio Pulse from Shivani Kumaresan

August 15, 2023 | 4:36 pm