Streetbeat News

Equity Actions

NXU

Nxu shares are trading lower following the announcement of a $5 million public offering.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:29 pm

BLK

BTCUSD

Billionaire David Rubenstein, co-founder of The Carlyle Group, expressed his confidence in Bitcoin's endurance due to the global interest it attracts. He also pointed out that major financial firms like BlackRock and Fidelity are seeking approval to launch Bitcoin ETFs. Other companies such as Valkyrie, WisdomTree, VanEck, Ark Invest, and Invesco are also applying for a Bitcoin ETF.

Portfolio Pulse from Murtuza Merchant

August 09, 2023 | 1:24 pm

PFE

The National Comprehensive Cancer Network (NCCN) has announced research funding for biomarker-directed therapy in metastatic colorectal cancer. This initiative is in collaboration with Fight CRC and Pfizer Inc. (PFE).

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:09 pm

XYL

Spruce Point Capital Management has released a strong sell research opinion on Xylem Inc. (NYSE:XYL), citing concerns over Xylem's recent $7.5 billion acquisition of Evoqua Water Technologies. Spruce Point believes the acquisition combines two troubled companies that will fail to deliver value for shareholders. The firm also highlighted new accounting concerns and warned that Evoqua was charged for revenue fraud by the SEC and remains under federal investigation. Spruce Point sees a 30% to 45% long-term downside risk to Xylem's share price.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:04 pm

GTES

Gates Industrial has announced the pricing of a secondary offering of 15 million ordinary shares, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 12:51 pm

LPSN

PENN

UP

LivePerson (LPSN) reported Q2 EPS of $0.12, beating the estimate of $(0.38), and sales of $97.52M, beating the estimate of $96.85M. PENN Entertainment (PENN) reported Q2 EPS of $0.48, beating the estimate of $0.42, with sales of $1.67B in line with estimates. Wheels Up (UP) is pursuing strategic options.

Portfolio Pulse from ryanfaloona@benzinga.com

August 09, 2023 | 12:37 pm

JACK

Jack In The Box plans to execute at least $80M in share repurchases in FY23. The company also plans to refranchise 90-120 Del Taco restaurants in FY23.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 12:35 pm

TG

Tredegar Corporation (TG) has announced plans to close its PE Films Technical Center in Richmond and reduce its efforts to develop and sell films supporting the semiconductor market. Future R&D activities will be conducted at the Pottsville, PA facility. The company expects to incur $1.8 million in cash costs related to exit activities, non-cash asset write-offs, and accelerated depreciation of up to $4.5 million. However, it anticipates net annual cash savings of $3.4 million starting from Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 12:20 pm

MAQCU

Immersed Inc., a provider of spatial computing software, is set to go public on Nasdaq via a merger with Maquia Capital Acquisition Corp. (NASDAQ:MAQCU). The transaction values Immersed at $150 million. The proceeds will be used to complete the development of its AI assistant, 'Curator', and its lightweight headset, 'Visor'. Post-merger, the company will trade under the ticker symbol 'AIMR'.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 12:19 pm

NVAX

B. Riley Securities has upgraded Novavax from Neutral to Buy and set a price target of $15. The upgrade is expected to have a positive impact on Novavax's stock price.

Portfolio Pulse from richadhand@benzinga.com

August 09, 2023 | 12:17 pm