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Equity Actions

EFSH

1847 Holdings LLC (NYSE:EFSH) has announced its plans to acquire a premier consumer products company with revenues exceeding $20M and positive EBITDA in 2022. The acquisition will be funded without issuing any common stock or dilutive equity and is expected to be completed by Q3 2023. Egan-Jones has affirmed a BBB+ rating on 1847's senior credit facility. The company also plans to restructure its outstanding convertible notes and expects to resume dividends and repurchase stock in the future.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 12:36 pm

WBD

Warner Bros. Discovery has appointed Mark Thompson as the Chairman and CEO of CNN Worldwide. The appointment will be effective from October 9, and Thompson will report to David Zaslav, CEO of Warner Bros. Discovery.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 12:13 pm

DARE

Daré Bioscience has announced a $7M registered direct offering, which includes the purchase and sale of 10 million shares and warrants to purchase up to 10 million shares.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 12:09 pm

PVH

PVH Corp reported Q2 FY23 sales growth of 4% YoY to $2.21 billion, beating the analyst consensus of $2.19 billion. The increase was driven by growth in the Tommy Hilfiger and Calvin Klein businesses, particularly in the Asia Pacific region. The company also raised its FY23 non-GAAP EPS outlook to about $10.35 from the previous $10.00. PVH's planned stock repurchases in 2023 has been increased to about $400 million.

Portfolio Pulse from Shivani Kumaresan

August 30, 2023 | 11:21 am

KMDA

Kamada has announced that its shareholders have approved a $60M private placement with FIMI Opportunity Funds. The deal is expected to close soon.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 11:01 am

HPQ

QQQ

SPY

The US stock rally may cool off as focus shifts to Q2 GDP and private jobs data. The tech sector could face selling pressure due to earnings-related sell-offs from companies like HP, Inc. The market is also awaiting ADP's private payrolls report and preliminary Q2 GDP data. The Nasdaq Composite and the S&P 500 indices ended at their highest levels since early August. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell slightly. Stocks in focus include HP, Box, Inc., Ambarella, Inc., Brown-Forman Corporation, and Patterson Companies, Inc.

Portfolio Pulse from Shanthi Rexaline

August 30, 2023 | 10:57 am

JNJ

KVUE

Johnson & Johnson has secured $13.2 billion in cash proceeds from the Kenvue debt offering and initial public offering. The company still maintains a 9.5% equity stake in Kenvue.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:41 am

JNJ

Johnson & Johnson has updated its financials and FY23 guidance following the separation from Kenvue. The company now expects 2023 reported sales growth of 7%-8%, up from the previous range of 6.5%-7.5%. Operational growth is projected at 7.5%-8.5%, and adjusted operational growth at 6.2%-7.2%.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:37 am

CHH

Choice Hotels has promoted Scott Oaksmith from Senior Vice President and Deputy CFO to Chief Financial Officer. Dominic Dragisich, who joined the company as CFO in 2017, will be promoted to Executive Vice President, Operations and Chief Global Brand Officer.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:33 am

AAPL

AXP

BAC

BRK

CVX

KO

Warren Buffett, the CEO of Berkshire Hathaway, Inc. (NYSE:BRK), turned 93. Berkshire's top five equity investments at the end of Q2 2022 were Apple, Inc. (NASDAQ:AAPL), Bank of America Corp (NYSE:BAC), American Express Co. (NYSE:AXP), Coca-Cola Co. (NYSE:KO), and Chevron Corp. (NYSE:CVX). A hypothetical equal-weighted investment of $1,000 in these companies at the end of 2022 would have returned 4.5% over six months, compared to the S&P 500's 17.14% return.

Portfolio Pulse from Shanthi Rexaline

August 30, 2023 | 9:23 am