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CHGG

Chegg has announced a $200 million stock buyback, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 2:57 pm

CHK

Chesapeake Energy's stock is trading higher following the announcement that the company will join the S&P MidCap 400. UBS has also maintained a Buy rating on the stock and increased its price target from $102 to $106.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 2:53 pm

TIVC

Tivic Health Systems, Inc. (NASDAQ:TIVC) shares surged by more than 50% after the company announced the commencement of enrollment for a funded study of its bioelectronic device approach to vagus nerve stimulation. The company also reported Q2 financial results with a revenue of $60 thousand and a net loss of $2.1 million. Last week, TIVC shareholders approved a reverse stock split to regain compliance with the Nasdaq minimum bid price requirement.

Portfolio Pulse from Erica Kollmann

August 17, 2023 | 2:44 pm

GFI

Gold Fields CFO Paul Schmidt has announced his intention to retire after spending 27 years with the company.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 2:39 pm

TSLA

Tesla CEO Elon Musk has expressed regret that Warren Buffett, CEO of Berkshire Hathaway, did not invest in Tesla when the company was worth significantly less. Musk's comments came in response to a social media post praising Buffett's investment strategies. Musk had previously stated that Charlie Munger, Buffett's business partner, had the opportunity to invest in Tesla 15 years ago when the company was valued at around $200 million. Despite recent praise for Musk from Buffett and Munger, it is unlikely that Berkshire Hathaway will invest in Tesla due to its high P/E multiple and growth stock status.

Portfolio Pulse from Shanthi Rexaline

August 17, 2023 | 2:34 pm

WING

Wingstop Inc's board of directors has approved a new share repurchase program for up to $250 million of shares, effective immediately. The company plans to fund the repurchases with a combination of existing cash and cash flows from operations. This comes after Wingstop reported a Q2 FY23 sales growth of 27.9% Y/Y to $107.17 million, beating the analyst consensus. The company's board also approved a quarterly dividend increase of 15% to $0.22 per share.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 2:27 pm

APO

ARNC

CHK

MRCY

Chesapeake Energy Corp. (CHK) will replace Mercury Systems Inc. (MRCY) in the S&P MidCap 400, and Mercury Systems will replace Arconic Corp. (ARNC) in the S&P SmallCap 600 effective August 21, 2023. Apollo Global Management Inc. (APO) is acquiring Arconic in a deal expected to close soon.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 2:20 pm

AVT

CHGG

CHK

CSCO

GAMB

LYTS

PGEN

PLCE

SGHC

TGI

Several US stocks traded higher on Thursday, with LSI Industries, Super Group, Gambling.com Group, The Children's Place, Avnet, Chegg, Triumph Group, Precigen, Chesapeake Energy, and Cisco Systems recording significant gains. The increases were largely driven by better-than-expected quarterly results, raised FY23 guidance, increased share buybacks, and raised price targets.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 2:17 pm

EMKR

EMCORE has announced the pricing of its $15.8 million public offering of 19,652,174 shares of its common stock at $0.50 per share. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 2:12 pm

PLL

Piedmont Lithium Inc (NASDAQ:PLL) plans to increase its stake in Atlantic Lithium Limited's Ewoyaa Lithium Project to 50% through a staged investment agreement. Piedmont will provide an additional $70 million toward Ewoyaa development capital to acquire an additional 27.5% interest. The company will share the remaining project capital costs equally with Atlantic Lithium, committing about $128 million toward the total estimated $185 million project capital costs. Piedmont is entitled to purchase 50% of lithium concentrate production at Ewoyaa for the life of the mine.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 2:10 pm