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Equity Actions

ITW

Illinois Tool Works Inc. (ITW) has announced a succession plan, with Vice Chairman Christopher A. O'Herlihy set to become President and CEO from January 1, 2024. Current CEO E. Scott Santi will step down and become Non-Executive Chairman of the Board until March 1, 2024. The succession plan is part of ITW's Enterprise Strategy for long-term performance. O'Herlihy has been with ITW for over 34 years and will be the eighth CEO in the company's 112-year history.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 12:09 pm

IE

BMO Capital analyst Andrew Mikitchook maintains an Outperform rating on Ivanhoe Electric (AMEX:IE) and raises the price target from $18 to $20.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 12:09 pm

LSDI

Lucy Scientific is acquiring the IP of High Times and will issue 19.9% of its outstanding stock to High Times. Lucy will make semi-annual payments for the next 5 years based on EBITDA generated from the acquired IP. Lucy will also license the right to operate retail stores and manufacture and sell THC products in the US back to High Times for a license fee of $1.0M per year, increasing to $2.0M per year upon Federal legalization.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 12:05 pm

CION

CION Investment Corporation (NYSE:CION) has announced a one-year extension to its existing $60 million share repurchase program through August 29, 2024. The program authorizes CION to repurchase up to $60 million of its common shares, of which approximately $37.0 million remains available. Repurchases may be made either in the open market or through private transactions, subject to market conditions and legal requirements.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 12:04 pm

MNTS

Momentus Inc. (NASDAQ:MNTS) has announced a registered direct offering priced at-the-market under Nasdaq rules. The company will sell 672,948 shares of common stock at $7.43 per share to a single institutional investor, resulting in gross proceeds of approximately $5.0 million. Momentus will also issue Series A and Series B warrants to the investor, exercisable immediately at $7.18 per share.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 12:00 pm

AAPL

ETHUSD

GME

SAIC

The article covers a range of topics including US markets, crypto, US politics, world politics, US economy, world economy, electric vehicles, tech, communications, pharma, and consumer. Key points include Biden's growing lead over Trump, whales purchasing $425M in Ethereum, and Ark Invest's proposal for an ETH/USD-based ETF. Other highlights include a potential mega-deal between Biden and the Saudi Crown Prince, warnings about China's economy, and various updates on electric vehicle companies and tech firms.

Portfolio Pulse from Akanksha Bakshi

September 07, 2023 | 11:55 am

LVO

LiveOne (Nasdaq: LVO) announced that its subsidiary, Courtside Group, Inc. (dba PodcastOne) will ring the Nasdaq Stock Market opening bell on September 8, 2023, to celebrate its direct listing on Nasdaq and spin-out as a separate public company.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 11:42 am

JNVR

Janover Inc. (NASDAQ:JNVR), an AI-enabled B2B fintech marketplace, has announced the appointment of Bruce S. Rosenbloom as Chief Financial Officer, effective September 07, 2023. He replaces Patrick Stinus, who resigned from his position as Senior Vice President and Interim Chief Financial Officer.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 11:36 am

TRI

Thomson Reuters and certain Blackstone-affiliated investment funds have collectively sold 35.0 million shares of London Stock Exchange Group PLC (LSEG) at a price of £79.50 per share. The sale was conducted through a placement to institutional investors, an offer to retail investors, and includes approximately 9.5 million shares sold directly to LSEG in satisfaction of their previously announced intention to conduct a directed buyback of up to £750 million.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 11:32 am

MEI

MEI has revised its Q2 and FY24 forecasts downwards due to operational inefficiencies and costs related to the discontinuation of Dabir Surfaces and acquisition of Nordic Lights. Q2 net sales are expected to be $285M-$295M, down from $310.52M estimated, and adjusted EPS is expected to be $0.12-$0.17, down from $0.49 estimated. FY24 net sales are expected to be $1.14B-$1.18B, down from $1.15B-$1.20B, and adjusted EPS is expected to be $0.88-$1.08, down from $1.55-$1.75. FY25 forecasts remain unchanged.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 11:17 am