Streetbeat News

Equity Actions

HYZN

Hyzon Motors has announced the appointment of Erik Anderson as the Chairman of its Board of Directors, effective from August 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 11:06 am

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PANW

TSLA

ZM

US stocks recorded a weekly loss, with Zoom Video and Palo Alto Networks among stocks to watch. Crypto market saw a slide with Vitalik Buterin sending $1M in Ethereum to Coinbase. Tesla faced a data breach affecting over 75,000 people and Elon Musk revealed challenges in developing Tesla's humanoid bot. Citigroup plans to split its biggest division, while Goldman Sachs faces potential lawsuits over 1MDB settlement. DuPont plans to sell its Delrin Resins business for $1.8B.

Portfolio Pulse from Akanksha Bakshi

August 21, 2023 | 11:06 am

DD

DuPont has announced an agreement to divest 80% of its ownership in the Delrin business to TJC for $1.8 billion.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 11:02 am

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NVDA

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QQQ

SPY

TSLA

US stock futures suggest a potential rebound as traders anticipate Nvidia's earnings and the Jackson Hole Symposium. Last week, stocks closed lower due to fears of aggressive interest rate hikes. The S&P 500, Nasdaq Composite, and Dow Industrials all recorded losses. Analyst Quincy Crosby suggests that the market may wait for Jerome Powell's comments at the Jackson Hole conference before reentering. China's financial issues could also trigger a slide in financial markets, leading to increased investment in the US Treasury. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF both saw gains. Stocks in focus include Palo Alto Networks, Tesla, Nvidia, and Nordson Corp.

Portfolio Pulse from Shanthi Rexaline

August 21, 2023 | 10:59 am

NKLA

Nikola Corporation has terminated a common stock purchase agreement with Tumim Stone Capital that was dated September 2021. Instead, the company has entered into a securities purchase agreement for the sale of up to $325 million in aggregate principal amount of senior convertible notes.

Portfolio Pulse from Charles Gross

August 21, 2023 | 10:22 am

JNJ

KVUE

Johnson & Johnson has announced that its offer to shareholders to exchange their shares of Johnson & Johnson for shares of Kenvue was oversubscribed. For each share of Johnson & Johnson, 8.0324 shares of Kenvue will be exchanged.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 10:21 am

APP

Applovin Corporation has entered into an agreement to repurchase 15 million shares of its Class A common stock. The transaction was announced on August 21.

Portfolio Pulse from Charles Gross

August 21, 2023 | 10:13 am

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TSLA

Over the weekend, several key events occurred including criticism of Donald Trump's attacks on the justice system, controversy over Jared Kushner's $2 billion Saudi investment, concerns about Bitcoin's volatility following SpaceX's pullout, and Ford's F-150 Lightning surpassing Tesla's Cybertruck in buyer interest. Additionally, a Tesla car's dashcam captured a tornado in Rhode Island.

Portfolio Pulse from Benzinga Neuro

August 21, 2023 | 9:57 am

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DBSDY

Citigroup Inc is reportedly considering splitting its largest division, Institutional Clients Group (ICG), into three primary business segments. The move is expected to give CEO Jane Fraser more direct control over operations. ICG, which generated revenue of around $10.4 billion in Q2 FY23, offers financial services to institutional investors and governments. The transaction will be the bank's most significant shake-up of its corporate structure in nearly 15 years. The bank also recently closed the sale of its Taiwan consumer businesses to DBS Group Holdings Ltd.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 9:38 am

XPEV

B of A Securities analyst Ming Hsun Lee has upgraded XPeng (NYSE:XPEV) from Neutral to Buy and raised the price target from $16.3 to $22.

Portfolio Pulse from richadhand@benzinga.com

August 21, 2023 | 9:26 am