Streetbeat News

Equity Actions

AUR

Aurora Innovation has announced plans to sell $600 million worth of stock in a private placement, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 9:55 am

BPTS

Biophytis has announced a registered direct offering of $3.8 million.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 7:28 am

PSNY

TSLA

Tesla is set to report its Q2 results, with analysts expecting a YoY rise in EPS from $0.76 to $0.82 and a 44.50% jump in revenue to $24.48 billion. Despite concerns over auto gross margin shrinkage due to price cuts and discounts, Gene Munster, Managing Partner at Deepwater Asset Management, is not overly concerned. He expects margins to improve in the latter half of the year and into 2024, particularly as Tesla ramps up production at Giga Austin and the 4680 battery, and lithium prices decrease. Munster also noted that traditional automakers are struggling with their EV margins, citing Ford's EV division's 40% loss and Polestar's 45% loss, compared to Tesla's 15% operating margin.

Portfolio Pulse from Shanthi Rexaline

July 19, 2023 | 6:48 am

ABOS

Acumen Pharmaceuticals has increased its previously announced offering from $100M to $130M, pricing 16,774,193 shares at $7.75 per share.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 5:09 am

ARGX

argenx has raised approximately $1.1 billion in gross proceeds from a global offering. The company sold 1,580,981 ADSs at a price of $490.00 per ADS and 663,918 ordinary shares at a price of €436.37 per ordinary share.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 4:52 am

GOOGL

META

MSFT

Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg announced plans to open-source the company’s latest AI technology, LLaMA 2, to developers and software enthusiasts for free. This move could help Meta compete with rivals like Google (NASDAQ:GOOGL) and ChatGPT. Meta and Microsoft (NASDAQ:MSFT) have partnered to make LLaMA 2 open-source, allowing it to operate on Microsoft’s Azure cloud services.

Portfolio Pulse from Benzinga Neuro

July 19, 2023 | 4:08 am

ARKK

ARKW

AVDX

COIN

SOFI

TSLA

TWLO

Ark Invest, led by Cathie Wood, has continued to sell Tesla Inc shares for the second consecutive day, with the most significant trade involving the sale of 28,659 Tesla shares valued at $8.4 million. The firm sold shares through the Ark Innovation Fund and the Ark Next Generation Internet ETF. Despite this, Ark Invest remains bullish on Tesla's long-term prospects, particularly in AI. Other trades included the purchase of shares in Twilio Inc, AvidXchange Holdings Inc, and SoFi Technologies Inc, and the sale of Coinbase Global Inc shares.

Portfolio Pulse from Benzinga Neuro

July 19, 2023 | 1:21 am

MSSTF

REUN

Terran Biosciences has filed a patent application for solid forms of 4-OH-DiPT hemiglutarate, a psychedelic compound, amidst an ongoing court battle between Reunion Neuroscience (NASDAQ:REUN) and Mindset Pharma (OTC:MSSTF) over similar claims. Terran's application claims priority back to six provisional applications, including four filed just a week after the broad nature of RE104, Reunion's lead drug candidate, was disclosed.

Portfolio Pulse from Lara Goldstein

July 19, 2023 | 12:47 am

PHRRF

PharmaTher Holdings (OTCQB:PHRRF) and the Terasaki Institute for Biomedical Innovation have reported positive outcomes from their research on a novel microneedle patch for the delivery of DMT. The study aimed to develop a suitable prototype of PharmaPatch for DMT’s transdermal delivery. The company will work with its research partner PharmaDrug Inc., and invest $227,700 in PharmaDrug's subsidiary, Sairiyo Therapeutics, for a 49% ownership.

Portfolio Pulse from Lara Goldstein

July 18, 2023 | 9:45 pm

ODD

The Wall Street Journal has reported that Oddity's initial public offering (IPO) is set to price at $35 per share.

Portfolio Pulse from Charles Gross

July 18, 2023 | 9:28 pm