Streetbeat News

Equity Actions

TRSSF

TSX:TSND

TerrAscend Corp. (TSX:TSND) (OTCQX:TRSSF) has raised $21 million in equity and senior unsecured convertible debentures and listed on the Toronto Stock Exchange, freeing it from U.S. regulatory constraints. The company's stock now trades under the ticker symbol 'TSND'. The listing has given TerrAscend access to more institutional capital and investors. Morgan Stanley has also removed all restrictions from the stock. TerrAscend's Q1 results reported a 42.8% YoY increase in revenue and a positive free cash flow of $5.9 million.

Portfolio Pulse from Jelena Martinovic

August 23, 2023 | 7:44 pm

SALM

Salem Media Group has announced its plan to sell its Greenville radio stations. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 7:34 pm

CME

CME Gr Inc.'s stock is currently trading at $200.52, marking a 0.52% increase. Over the past month, the stock has increased by 0.89%, and by 0.70% over the past year. The company's P/E ratio of 24.39 is lower than the Capital Markets industry average of 72.36, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 7:31 pm

ADI

APLS

IDEX

ITOS

PTON

VCIG

US stocks traded higher with the S&P 500 gaining 1.08%. Analog Devices (ADI) reported weaker-than-expected Q3 results, with a YoY revenue decline of 1% to $3.08 billion. VCI Global (VCIG) shares rose 129% after announcing a collaboration with Microsoft Azure OpenAI. Apellis Pharmaceuticals (APLS) shares rose 31% after reporting rare events of retinal vasculitis in treatment with SYFOVRE. iTeos Therapeutics (ITOS) shares rose 28% following the release of Roche NSCLC data. Ideanomics (IDEX) shares dropped 27% after announcing a 1-for-125 reverse stock split. Foot Locker (FL) shares fell 30% after reporting a Q2 revenue miss and an 11% rise in inventories. Peloton (PTON) shares fell 24% after reporting mixed Q4 results and a quarterly decline in Connected Fitness subscribers.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 6:25 pm

AMC

AMC Entertainment is planning a 10-to-1 reverse stock split that will take effect on Thursday. The company's Preferred Equity Units will be converted to common stock the following day. This has led to a decrease in AMC's share price.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 5:52 pm

SPKY

SPY

UVXY

The SPDR S&P 500 (NYSE:SPY) rose about 1% during Wednesday's trading session, ahead of Nvidia Corporation's earnings print and the Jackson Hole Symposium. The SPY had fallen 5.75% between July 17 and Aug. 18 before rebounding over the last four trading days. There's a possibility the market ETF could be settling into a bear flag pattern. If the SPY breaks down from the bear flag pattern, volatility in the stock market is likely to increase. Traders can trade the potential volatility with options like the ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY) and ProShares Ultra VIX Short Term Futures ETF (NYSE:UVXY).

Portfolio Pulse from Melanie Schaffer

August 23, 2023 | 5:48 pm

BURL

CMG

CVNA

LULU

MCD

SBUX

TSLA

ULTA

The article reports on the options activity of 10 consumer discretionary stocks in today's session. The stocks include Tesla (TSLA), Foot Locker (FL), Burlington Stores (BURL), Ulta Beauty (ULTA), Carvana (CVNA), McDonald's (MCD), Chipotle Mexican Grill (CMG), RH (RH), Starbucks (SBUX), and Lululemon Athletica (LULU). The article provides detailed information about the type of options activity (put/call), trade type, sentiment, expiration date, strike price, total trade price, open interest, and volume for each stock.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 5:35 pm

DHI

A significant investor has taken a bearish stance on D.R. Horton (NYSE:DHI), with 75% of recent trades being bearish. The targeted price range for D.R. Horton over the last 3 months is $70.0 to $125.0. The current price of DHI is up 0.88% at $118.16. Keefe, Bruyette & Woods maintains a Market Perform rating on D.R. Horton, with a price target of $142.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 5:19 pm

HUM

Steve Weiss, a frequent guest on CNBC, announced that he has sold his shares in Humana (HUM).

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 4:44 pm

DBGI

Digital Brands Group, Inc. (NASDAQ:DBGI) shares have been volatile with heavy trading volume, leading to multiple trading halts. The company recently executed a 1-for-25 reverse stock split. DBGI's Q2 financial reports showed earnings of 38 cents per share and revenue of $4.5 million, a 69.6% increase. The company expects Q3 and Q4 revenues to be significantly higher. Despite this, DBGI shares are down by more than 3%.

Portfolio Pulse from Erica Kollmann

August 23, 2023 | 4:43 pm