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Equity Actions

KORE

KORE Group Holdings shares are trading lower following the announcement of a 1-for-5 reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 3:32 pm

EFTR

eFFECTOR Therapeutics (EFTR) shares plummeted over 70% after the company announced it will terminate employees, wind down operations, and request delisting from Nasdaq. Craig R. Jalbert has been appointed to oversee the process.

Portfolio Pulse from Henry Khederian

June 24, 2024 | 3:26 pm

CVX

Chevron announced plans for Q2 2024 buybacks between $2.5 billion and $3 billion. The company expects full-year production, including asset sales, to range from 3,245 MBOE/d to 3,338 MBOE/d. Estimated Q2 upstream turnarounds and downtime are about 65 MBOE/d, mainly due to TCO and Gulf of Mexico assets. Permian production in H1 is expected to be down less than 2% from Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 3:13 pm

PUK

Prudential shares are trading higher following the announcement of a $2 billion buyback.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 2:30 pm

BZFD

Vivek Ramaswamy has met with BuzzFeed's CEO, Jonah Peretti, and disclosed that his stake in the company has risen to 8.9%.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:40 pm

DGLY

Digital Ally has announced the pricing of a private placement worth approximately $2.9 million, consisting of 1,195,219 units at $2.51 per unit.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:36 pm

KNGS

REGL

SON

Sonoco Products Company (NYSE:SON) has announced a $3.9 billion acquisition of Eviosys, a leading metal packaging manufacturer. The deal is expected to enhance Sonoco's global market position and is projected to close by the end of 2024. The acquisition will be financed through new debt and equity issuance, with plans to maintain an investment-grade credit rating. Sonoco anticipates significant synergies and a positive impact on earnings per share. The company also plans to divest ThermoSafe and other assets to generate $1 billion in proceeds.

Portfolio Pulse from Lekha Gupta

June 24, 2024 | 1:29 pm

AMC

GME

AMC Entertainment Holdings Inc (NYSE:AMC) is in confidential talks with lenders to reduce its debt and extend near-term maturities. The company has over $2.8 billion in maturities due in 2026. AMC has also raised $250 million through a recent equity offering. The stock has been volatile due to renewed interest in meme stocks, partly driven by GameStop Corp (NYSE:GME) trader Keith Gill. Additionally, AMC may be benefiting from the success of 'Inside Out 2' at the box office.

Portfolio Pulse from Adam Eckert

June 24, 2024 | 1:26 pm

SISI

Shineco has entered into a securities purchase agreement with gross proceeds of $7.0 million. The company will issue up to 1.4 million shares at $5.00 per share.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:07 pm

GRMN

Garmin has appointed Patrick Desbois and Brad Tenkle as Co-Chief Operating Officers, effective July 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:02 pm