Streetbeat News

Equity Actions

LAC

Lithium Americas shareholders have approved a plan to split the company into two separate lithium entities. The separation, which was approved by 98.85% of votes, is expected to become effective in early October 2023.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 9:49 pm

BABA

Truist analyst Youssef Squali reiterated a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) with a price target of $130. Squali expects Alibaba's 2H performance to be bolstered by China's economic policies and international commerce. He anticipates a 9% Y/Y growth in total revenue in F1Q24 due to recovery in China Commerce. Alibaba's International Commerce is expected to achieve +24% Y/Y growth in 1Q24, bolstered by a recovering Europe and the U.S. market and rapid growth in Southeast Asia. Alibaba's management reshuffle and organizational restructuring are seen as positive moves for the company's growth.

Portfolio Pulse from Anusuya Lahiri

July 31, 2023 | 9:48 pm

GDEN

Golden Entertainment has increased its share buyback authorization to $100 million.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 9:47 pm

GDEN

Golden Entertainment has declared a special cash dividend of $2.00 per share, payable on August 25, 2023, to stockholders of record as of August 11, 2023. The company's board has also increased the share repurchase authorization to $100 million.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 9:46 pm

MLI

Mueller Industries, Inc. (NYSE:MLI) has filed a preliminary proxy statement with the SEC for a special meeting of shareholders to approve an increase in the total number of its authorized shares of Common Stock from 100 million to 250 million. The primary purpose of this amendment is to facilitate a stock split in the form of a stock dividend.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 9:44 pm

TKLF

Yoshitsu Co., Ltd (NASDAQ:TKLF) reported its FY23 financial results, showing a decrease in EPS from $0.12 YoY to $(0.22) and a drop in revenue from $234.75M YoY to $169.72M. The company attributed these results to the global pandemic and currency fluctuations. However, Yoshitsu highlighted strategic successes, including a shift in geographic market strategy towards the domestic Japan market and a focus on franchise stores and wholesale customers. The company also plans to expand overseas and develop a new shopping App to attract worldwide shoppers.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 9:40 pm

ZI

ZoomInfo Technologies Inc. reported mixed Q2 earnings, beating the analyst consensus estimate for earnings per share but missing on sales. The company also provided weak guidance for Q3 revenues and cut its 2023 revenue outlook. Additionally, ZoomInfo announced a $500 million share repurchase program.

Portfolio Pulse from Ryan Gustafson

July 31, 2023 | 9:39 pm

ACWX

EPOL

EZA

GXC

SPY

TUR

VNM

July saw strong gains in global equity markets, with some countries posting double-digit monthly returns. The SPDR S&P 500 ETF Trust (NYSE:SPY) outperformed the iShares MSCI All Country World Index Ex-US ETF (NYSE:ACWX) in 2023, but underperformed global equities in July. Top performing country ETFs in July included iShares MSCI Poland ETF (NYSE:EPOL), SPDR S&P China ETF (NYSE:GXC), iShares MSCI South Africa ETF (NYSE:EZA), VanEck Vietnam ETF (NYSE:VNM), and iShares MSCI Turkey (NYSE:TUR).

Portfolio Pulse from Piero Cingari

July 31, 2023 | 9:26 pm

QFTA

Quantum FinTech Acquisition Corporation (QFTA) has announced that it will transfer the listing of its common stock from the New York Stock Exchange to NYSE American on August 2, 2023. The company's stock has been approved for listing on NYSE American and will continue to trade under the same ticker symbol, QFTA. Quantum is also involved in a business combination agreement that will result in Atlas FinTech Holdings Corp. transferring its trading technology assets to AtlasClear and the acquisition of Wilson Davis & Co., Inc. by AtlasClear.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 9:21 pm

GLG

TD Holdings Inc has entered into a securities purchase agreement with certain purchasers. The company has agreed to sell 28 million shares of its common stock at a price of $0.35 per share.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 9:18 pm