Streetbeat News

Equity Actions

AMC

APE

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares are trading lower after the company began trading on a 10-to-1 reverse split basis. In addition, AMC Preferred Equity Units (NYSE:APE) will be converted to AMC common on Friday, increasing the number of AMC shares from approximately 542.2 million to 550 million. The stock is experiencing heavy trading volume, with more than 10.57 million shares traded compared to the 100-day average of 3.539 million shares.

Portfolio Pulse from Erica Kollmann

August 24, 2023 | 2:50 pm

WING

Wingstop Inc has entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC to repurchase $125.0 million of Wingstop common stock. The agreement is part of Wingstop's previously announced $250.0 million share repurchase program. After completion, $125.0 million will remain available under the program. The company is funding the repurchase with cash on hand and will receive an initial share delivery of approximately 567,000 shares. The final settlement is scheduled to occur no later than the end of fiscal year 2023.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 2:44 pm

DLR

A significant bearish stance has been taken on Digital Realty Trust (NYSE:DLR) by a large investor or institution, as indicated by a large position in options. The sentiment among these big-money traders is split, with 36% bullish and 63% bearish. The price target for DLR over the last three months has been between $80.0 and $135.0. The current price of DLR is $129.82, up 3.22%. Analysts' ratings vary, with Barclays maintaining an Underweight rating and a price target of $94, while Citigroup, RBC Capital, Raymond James, and Exane BNP Paribas have Buy or Outperform ratings with price targets ranging from $136 to $140.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 2:32 pm

BSGM

BioSig AI Sciences, a subsidiary of BioSig Technologies (BSGM), has made significant progress in the development of its generative AI platform for hospitals. The platform aims to improve patient outcomes and reduce healthcare costs.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 2:31 pm

LOWLF

Lowell Farms Inc. (OTCQX:LOWLF) (CSE:LOWL) is consolidating all of its subordinate voting shares on a 1-for-10 basis, effective August 31, 2023. The number of issued and outstanding subordinate voting shares will be reduced from 112.8 million to approximately 11.3 million, and the number of super voting shares will be reduced from 202,590 to 20,259. The shares will continue to trade on the CSE under the symbol “LOWL” and on the OTCQX under the symbol “LOWLF” on a post-consolidation basis.

Portfolio Pulse from Vuk Zdinjak

August 24, 2023 | 2:31 pm

BRSH

ELIQ

MULN

NVDA

OIG

SCTL

VFS

U.S. stocks traded higher with the Dow Jones gaining over 150 points. NVIDIA Corporation reported better-than-expected Q2 results and issued strong Q3 revenue guidance. The company's board also approved an additional $25 billion in share repurchases. Bruush Oral Care, VinFast Auto, and Electriq Power Holdings saw significant stock increases, while Orbital Infrastructure Group, Societal CDMO, and Mullen Automotive experienced notable drops.

Portfolio Pulse from Lisa Levin

August 24, 2023 | 2:15 pm

SPY

In a CNBC interview, Fed's Harker stated that there is a clear tightening of credit, but it is unclear how much this will impact the economy. He also mentioned that he is not concerned about the rise in market yields and is closely watching it. He noted that low-income consumers are slowing down.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 2:10 pm

STLA

Stellantis has announced that it is expanding its SPOTiCAR program into the United States. The program, which is already operational in Europe, offers certified pre-owned vehicles from the company's various brands.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 2:03 pm

VINE

Fresh Vine Wine is exploring strategic opportunities to maximize shareholder value, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 2:02 pm

TD

Toronto-Dominion Bank (TD) reported Q3 FY23 earnings of C$3 billion, down 8% YoY, and adjusted earnings of C$3.7 billion, down 2% YoY. Total revenue grew 17% YoY to C$12.78 billion. The bank also announced a dividend per share of C$0.96 and plans to launch a new normal course issuer bid to repurchase up to 90 million of its common shares. TD shares are trading lower by 1.98% at $60.31.

Portfolio Pulse from Akanksha Bakshi

August 24, 2023 | 1:57 pm