Streetbeat News

Equity Actions

AMR

The board of Alpha Metallurgical Resources has decided to cease its fixed dividend program following the next quarterly dividend. This decision may impact the company's stock price and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:10 pm

INNPF

Innocan Pharma Corporation has closed a non-brokered private placement offering of 8.4 million units at a price of CA$0.23 per unit, raising CA$1.9 million ($1.4 million). Each unit consists of one common share, one-half of one class A common share purchase warrant, and one-half of one class B common share purchase warrant. The proceeds will be used for working capital and general corporate purposes.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 3:09 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) has been in the news for its artificial intelligence (AI) offerings and organizational restructuring initiatives. The company's cloud unit showcased two large language models (LLMs) as part of its efforts to democratize AI technology. Alibaba's cloud unit is preparing for a spin-off from its parent in 2024. Meanwhile, Alibaba's logistic arm Cainiao Network launched a half-day express delivery service in eight major Chinese cities. Cainiao plans to pursue an initial public offering in the next 12 to 18 months.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 3:09 pm

TDS

USM

TDS and UScellular have announced that they are exploring strategic alternatives for UScellular. The comprehensive process will consider a range of options.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:09 pm

AMZN

Rosenblatt analyst Barton Crockett has upgraded Amazon.com (NASDAQ:AMZN) from Neutral to Buy and raised the price target from $111 to $184.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 3:08 pm

AAPL

DBVT

SPY

TSLA

The US markets experienced lower volatility ahead of the jobs report, with the S&P 500 settling lower. DBV Technologies and other penny stocks are being bought by insiders. In crypto, Shiba Inu outperformed Dogecoin and Pepe Coin, while Bitcoin, Ethereum, and Dogecoin fell amid rising jobless claims. Apple has been working on ChatGPT-like AI tech for years and is preparing for the iPhone 15 Pro launch. Tesla is gearing up for the launch of the 'Highland' Model 3. Hedge funds lost over $6B betting against US cruise lines and hotels.

Portfolio Pulse from Akanksha Bakshi

August 04, 2023 | 3:08 pm

BWXT

Baird analyst Peter Arment has upgraded BWX Technologies (NYSE:BWXT) from Neutral to Outperform and raised the price target from $61 to $85.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 3:07 pm

PNM

PNM Resources has reiterated its FY23 adjusted EPS of $2.65-$2.75, which is in line with the consensus of $2.72. The company's performance in the first half of the year has set the stage for future growth, especially in Texas where legislative changes have called for investments in grid reliability and resilience.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:02 pm

QS

QuantumScape Corporation has announced the pricing of its underwritten public offering of 37.5 million shares of its Class A common stock for gross proceeds of $300 million. The company has also granted the underwriters a 30-day option to purchase up to an additional 5.62 million shares at the public offering price. The offering is expected to close on August 8, 2023. Following the announcement, QS shares are trading lower by 9.19% at $8.00 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

August 04, 2023 | 3:00 pm

RYI

Ryerson Holding has reported the pricing of a secondary offering of 4 million shares by a significant shareholder. The pricing details have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:00 pm