Streetbeat News

Equity Actions

ACB

CGC

EPM

GRNT

NIO

PKX

SQSP

WE

XPEV

Several US-listed stocks traded lower in Wednesday's pre-market session. Evolution Petroleum Corporation (EPM) dipped 13.9% after reporting downbeat Q4 results. Aurora Cannabis (ACB), Canopy Growth Corporation (CGC), Granite Ridge Resources (GRNT), WeWork (WE), POSCO Holdings (PKX), Squarespace (SQSP), XPeng (XPEV), and NIO (NIO) also recorded losses. Squarespace priced its secondary offering of 5 million class A common shares at $29 per share. Shares of China EV makers fell following report of possible EU tariffs.

Portfolio Pulse from Lisa Levin

September 13, 2023 | 10:02 am

NVO

Novo Nordisk's Board of Directors has approved a 2:1 stock split of the company's B shares listed on Nasdaq Copenhagen and its American Depositary Receipts (ADRs) listed on the New York Stock Exchange (NYSE). The split will be effective from September 20, 2023.

Portfolio Pulse from Charles Gross

September 13, 2023 | 9:06 am

BYDDF

FXI

LI

NIO

XPEV

The European Commission has initiated an investigation to determine if tariffs are necessary on Chinese electric vehicle manufacturers that are benefiting from state subsidies. This could potentially impact Chinese EV manufacturers listed in the US, including BYD Co Ltd (BYDDF), Li Auto Inc. (LI), NIO Inc. (NIO), and XPeng Inc. (XPEV), as well as the iShares China Large-Cap ETF (FXI).

Portfolio Pulse from Charles Gross

September 13, 2023 | 8:52 am

CBRL

MAMA

REVG

SBOW

SMTC

Cracker Barrel, Mama's Creations, REV Group, SilverBow Resources, and Semtech Corporation are stocks to watch on Wednesday. Cracker Barrel and REV Group are expected to report earnings, while Mama's Creations reported upbeat Q2 results. SilverBow Resources announced a proposed public offering of common stock, and Semtech is also expected to report earnings.

Portfolio Pulse from Lisa Levin

September 13, 2023 | 8:34 am

META

MSFT

Elon Musk's X, formerly known as Twitter, has introduced a 'Swipe Up for More' video feature, aiming to compete with TikTok and Instagram. The feature has received mixed reactions from users, with some criticizing its persistent presence on the screen. Musk plans to make X an 'everything app', incorporating features for payments, audio and video calling, and shopping. Earlier this month, X implemented a job cards feature to compete with Microsoft's LinkedIn.

Portfolio Pulse from Ananya Gairola

September 13, 2023 | 7:52 am

VFS

Vietnamese EV maker VinFast Auto (NASDAQ:VFS) plans to expand into seven additional market clusters, including Indonesia, starting in 2024. The company also intends to establish manufacturing facilities for its EVs and batteries in Indonesia, with a preliminary investment target of up to $1.2 billion. VinFast shares started trading on the Nasdaq in August following a SPAC merger with Black Spade Acquisition Co.

Portfolio Pulse from Anan Ashraf

September 13, 2023 | 7:00 am

AMPH

Amphastar Pharmaceuticals has priced its offering of $300M of 2.00% convertible senior notes due 2029.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:41 am

SQSP

Squarespace has priced its secondary offering of 5 million Class A common shares at $29 per share.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:39 am

RCKT

Rocket Pharmaceuticals has priced its public offering of 7,812,500 common shares at $16 per share, and pre-funded warrants to purchase 3,126,955 common shares at $15.99 per pre-funded warrant, raising a total of $175 million.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:36 am

CRNX

Crinetics Pharmaceuticals has priced an upsized public offering of 11,441,648 common shares at $30.59 per share, raising $350 million.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:31 am