Streetbeat News

Equity Actions

CMPS

COMPASS Pathways has announced a private placement of 16,076,750 shares at $7.78 per share, raising $285 million. This has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 4:29 pm

BABA

BIDU

Steve Weiss, while live on CNBC, announced that he has sold his shares in Baidu Inc and bought more shares in Alibaba Group Holdings.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:16 pm

ARHS

Arhaus has announced an underwritten public offering of 12 million shares of Class A common stock, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 4:13 pm

TSLA

Elon Musk's foundation has donated $10 million to the University of Texas for a project called the Population Wellbeing Initiative, which studies population trends. The donation is one of the largest made by the Musk Foundation. The foundation also donated to Georgetown University and the Massachusetts Institute of Technology for studies on artificial intelligence and pandemic preparedness. In 2022, Musk donated nearly $2 billion in Tesla Inc (NASDAQ:TSLA) shares to charity.

Portfolio Pulse from Chris Katje

August 16, 2023 | 4:04 pm

EVG

JPM

UBS

El Salvador's embrace of Bitcoin has led to a bond rally with 70% returns, attracting investors who had previously avoided the country's securities. These returns are the highest among dollar bonds from emerging markets in 2023. JPMorgan Chase & Co, Eaton Vance, and PGIM Fixed Income have recommended or purchased the debt, anticipating further growth. Other firms including Lord Abbett & Co LLC, Neuberger Berman Group LLC, and UBS Group AG have also added the debt since April.

Portfolio Pulse from Murtuza Merchant

August 16, 2023 | 3:39 pm

EWY

SPY

VGK

The U.S. Treasury Department has issued new sanctions related to Russia and North Korea. This could potentially impact the global market and specific ETFs such as EWY, SPY, and VGK.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 3:38 pm

AMC

AMC Entertainment Holdings Inc's shares are trading lower after Roth MKM analyst Eric Handler reiterated a Sell rating and a price target of 50 cents, citing an 'upside down capital structure'. Despite improving EBITDA, AMC continues to burn through cash and issue shares to maintain liquidity. Handler believes AMC's shares are trading at an irrational valuation and would need to generate $978 million of adjusted EBITDA to justify its current price. A 10-for-1 reverse stock split will go into effect on Aug. 25, increasing the total number of authorized shares of AMC's Class A common stock from approximately 524.2 million to 550 million.

Portfolio Pulse from Adam Eckert

August 16, 2023 | 3:22 pm

MANU

Manchester United Plc is in the final stages of making a decision on the future of Mason Greenwood. The outcome of this decision could potentially impact the club's performance and reputation.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 3:08 pm

RLND

The RoyaLand Company Ltd. (NASDAQ:RLND) is set to start trading on NASDAQ on August 17. The company is offering shares at an expected price between $4.00 and $6.00 per share. RoyaLand is a Bermuda holding company focused on creating an online and offline immersive, fantasy-based royalty-themed experience.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 3:00 pm

DWAC

Former President Trump will retain control of his social media company, Truth Social, even if he sells most of his shares post-IPO. This is due to the creation of a new class of high-vote stock by Digital World Acquisition Corp. (DWAC), the SPAC merging with Truth Social's parent company. Trump will be the sole holder of this stock, granting him 55% voting power. DWAC recently settled with the SEC over misleading investors and agreed to pay an $18 million penalty. The company has yet to file its required quarterly reports for Q1 or Q2 2023.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 2:50 pm