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Equity Actions

ARHS

Arhaus Inc (NASDAQ:ARHS) has priced its underwritten public offering of 12 million shares at $10 per share, an 18% discount to the company's closing price as of August 15, 2023. The offering, expected to close on August 21, 2023, is by certain selling stockholders affiliated with Freeman Spogli & Co. The stockholders have also granted underwriters a 30-day option to purchase up to an additional 1.8 million shares. Arhaus will not receive any proceeds from the offering.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 10:36 am

FXI

SPY

China's Commerce Ministry is making a comprehensive assessment of the U.S. executive order restricting foreign investment and will adopt necessary measures based on the assessment results.

Portfolio Pulse from Charles Gross

August 17, 2023 | 10:14 am

DOLE

Dole expects its FY23 adjusted EBITDA to be at least $350M. The company is monitoring potential disruptions due to El Niño climatic conditions in key growing regions in Central and South America. Despite the unpredictable macro-economic environment, Dole has seen positives such as the strengthening Euro relative to the U.S. Dollar, more open supply chains, and moderation of inflation for certain input costs. However, it continues to be impacted by higher interest rates and other foreign currency movements.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 10:06 am

GS

TSN

Tyson Foods Inc is planning to sell its China poultry business and has hired The Goldman Sachs Group Inc as an advisor for the divestiture. The company has sent preliminary information to potential buyers, including several private equity firms. The valuation of the business, which has annual sales of around $1.1 billion, is unclear. Tyson Foods recently reported Q3 FY23 results, missing revenue and EPS consensus. The company's shares closed lower by 0.61% at $53.40 on Wednesday.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 9:55 am

EH

EHang Holdings announced that CFO Richard Jian Liu will step down effective August 31, 2023, for personal reasons. He will serve as a senior advisor to the company from September 1, 2023. Conor Chia-hung Yang, currently a director of the company, will take over as CFO while retaining his directorship.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 9:09 am

HXL

Wolfe Research analyst Myles Walton has upgraded Hexcel (NYSE:HXL) from Peer Perform to Outperform and announced a price target of $83.

Portfolio Pulse from richadhand@benzinga.com

August 17, 2023 | 9:08 am

SCHL

Scholastic (NASDAQ:SCHL) announced key leadership transitions. Beth Polcari, previously President of International, has been named President of Education Solutions. Ken Cleary will leave his role as CFO upon appointment of a successor and will become Scholastic's next President of International. The company has begun the process of identifying and hiring a successor CFO.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:07 am

JNJ

KVUE

Johnson & Johnson (JNJ) has announced the final exchange ratio for its split-off exchange offer. Shareholders can exchange their JNJ shares for shares of Kenvue Inc. (KVUE) at a ratio of 8.0324 KVUE shares for each JNJ share.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:02 am

QSR

Restaurant Brands International Inc. (RBI) announced that an underwritten registered public offering of up to 7,136,149 common shares commenced by HL1 17 LP, an affiliate of 3G Capital Partners Ltd., had priced. These common shares relate to the exchange notice received by RBI from the Selling Shareholder, to exchange 7,136,149 Class B exchangeable limited partnership units of RBI.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 7:46 am

JHX

James Hardie Industries (JHX) has appointed Rachel Wilson as its new Chief Financial Officer, effective immediately. She replaces Jason Miele, who will remain with the company for three months as an advisor before leaving the organization.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 7:46 am