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Equity Actions

SPCE

John Hempton, founder and CIO at Bronte Capital, criticized Chamath Palihapitiya, known as the 'SPAC King', over his past dealings. The criticism was in response to a tweet by Palihapitiya praising 'disagreeable' individuals in the start-up space. Hempton's comments refer to Palihapitiya's past SPAC activities, including the public listing of Virgin Galactic Holdings Inc (NYSE:SPCE), which left some investors with significant losses. Despite the collapse of numerous SPACs he championed, Palihapitiya remains unrepentant and continues to find investments.

Portfolio Pulse from AJ Fabino

September 05, 2023 | 8:59 pm

NUE

Nucor Inc.'s (NYSE:NUE) stock price is currently at $170.24, after a 1.36% drop. However, the stock has increased by 0.19% over the past month and by 25.54% over the past year. The company's P/E ratio is lower than the aggregate P/E of the Metals & Mining industry, indicating that the stock might be undervalued. However, a lower P/E can also suggest that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

September 05, 2023 | 8:45 pm

SNEX

StoneX Board has authorized the repurchase of up to 1.0M shares from time to time, starting from October 1, 2023, and ending on September 30, 2024, according to a filing.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 8:44 pm

CVEO

Civeo Corporation has announced the renewal of its share repurchase authorization, allowing the company to repurchase up to 5% of its total common shares outstanding through the New York Stock Exchange over the next twelve months. The company plans to fund these repurchases through cash on hand and cash generated from operations.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 8:32 pm

USDTUSD

Tether (CRYPTO: USDT) now holds an exposure of $72.5 billion in U.S. Treasury bills, making it one of the top 22 global buyers, surpassing countries such as the UAE, Mexico, Australia, and Spain. This announcement comes amid discussions about China's diminishing stake in U.S. T-bills and its shift towards gold. Tether's significant holdings in T-bills were expected as the company had previously disclosed its investments in these assets.

Portfolio Pulse from Murtuza Merchant

September 05, 2023 | 8:29 pm

VSTO

Vista Outdoor Inc. (NYSE:VSTO) has filed its Form 10 registration statement with the SEC, in line with its plan to separate its Outdoor Products and Sporting Products segments into two independent, publicly traded companies by 2023. The Outdoor Products company will be led by Eric Nyman and will focus on performance gear and precision technologies. Post-spin, Vista Outdoor will be rebranded as The Kinetic Group, with the NYSE ticker 'HUNT'.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 8:16 pm

JNJ

A significant bearish stance has been taken on Johnson & Johnson (NYSE:JNJ) by a large investor or institution, as evidenced by unusual options trades. The sentiment among these big-money traders is 100% bearish. The targeted price range for JNJ over the last 3 months has been $155.0 to $210.0. Analysts from Cantor Fitzgerald and Morgan Stanley have given JNJ an Overweight and Equal-Weight rating respectively, with price targets of $215 and $172.

Portfolio Pulse from Benzinga Insights

September 05, 2023 | 8:15 pm

ENB

Enbridge Inc. has announced a bought-deal offering of 89.49 million common shares at CDN$44.70 per share, for a total of CDN$4 billion. The underwriters, led by RBC Capital Markets and Morgan Stanley, have an option to purchase up to 15% additional shares. The proceeds will be used to finance part of the cash consideration for the purchase of US gas utilities from Dominion Energy. The offering is expected to close on September 8, 2023.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 8:14 pm

D

ENB

Enbridge Inc. has entered into three separate agreements with Dominion Energy, Inc. to acquire EOG, Questar and PSNC for an aggregate purchase price of $14.0 billion. The acquisitions will double the scale of Enbridge's gas utility business to approximately 22% of its total adjusted EBITDA. The company expects the acquisitions to be accretive to its financial DCFPS and adjusted EPS outlook in the first full year of ownership.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 8:12 pm

CSGS

CSG Systems has increased its share repurchase authorization by an additional $100M. The company may make purchases of its common stock at its discretion through open market purchases.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 8:12 pm