Streetbeat News

Equity Actions

ERJ

Embraer S.A. (NYSE:ERJ) has announced the early results of its offer to purchase for cash up to $750.0 million of its outstanding senior unsecured guaranteed notes due 2025, 2027, and 2028. The company has also amended the Tender Offer Consideration and the Total Consideration for the 2025 Notes and has delivered notice of optional redemption of all outstanding 2025 Notes. The 2025 Notes will be redeemed on September 7, 2023.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:38 pm

MYNA

Mynaric (NASDAQ:MYNA) announced the results of its annual general assembly, with Bulent Altan and Margaret Abernathy joining the Supervisory Board. Bulent Altan was elected as Chairman. Mustafa Veziroglu will serve as the sole CEO, leading the company's operations and strategy to produce laser communications terminals at scale. The company has the largest backlog of terminals in its history and plans to start delivering products at scale from 2023.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:37 pm

HWM

Barclays analyst David Strauss maintains an Overweight rating on Howmet Aerospace (NYSE:HWM) and raises the price target from $52 to $57.

Portfolio Pulse from jenniferd'souza@benzinga.com

August 08, 2023 | 12:24 pm

NUWE

UNH

Nuwellis, Inc. (NASDAQ:NUWE) announced that CFO Lynn Blake will be transitioning from her role to pursue broader career goals. She will remain in her current role through September 1, 2023, and then consult with the company through March 31, 2024. The company plans to appoint Rob Scott, currently the Senior Finance Director, as the new CFO. Scott, a 10-year veteran of Nuwellis, previously spent five years at UnitedHealth Group (NYSE:UNH) in various finance roles.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:23 pm

SEAC

SeaChange International, Inc. (NASDAQ:SEAC) has announced its voluntary decision to deregister its common stock with the U.S. Securities and Exchange Commission (SEC) and delist from Nasdaq. The company expects the last trading day of its common stock on Nasdaq to be around August 28, 2023. The decision follows a strategic alternatives process initiated in December 2022, which explored potential transactions to maximize stockholder value. The company believes that delisting will save significant money, which can be used to execute its standalone plan and provide a benefit to the company's stockholders.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:20 pm

CHPT

ChargePoint (NYSE:CHPT), a leading provider of electric vehicle (EV) charging solutions, announced a significant investment in technology to deliver nearly 100% charging station reliability. The company will implement 24/7 proactive station monitoring, predictive analytics, and machine learning to detect station downtime and improve charger uptime. ChargePoint also plans to introduce a comprehensive training program to certify electrical contractors that install EV charging infrastructure. The company currently delivers approximately 96% uptime across its entire public network in North America and Europe.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:14 pm

WCN

Waste Connections, Inc. (NYSE:WCN) has announced the renewal of its normal course issuer bid (NCIB) to repurchase up to 12,881,534 common shares, or 5% of its total issued and outstanding common shares. The repurchases will be made through the Toronto Stock Exchange, the New York Stock Exchange, and/or alternative Canadian trading systems over the next 12 months. The company has not purchased any common shares under the current NCIB, which will expire on August 9, 2023.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:12 pm

FSTR

L.B. Foster has updated its 2023 financial guidance due to improved profitability in its year-to-date results. The company now expects adjusted EBITDA to range between $28 million to $32 million, up from the previous estimate of $27 million to $31 million. Despite the impact of divestitures, net sales guidance for 2023 remains unchanged at between $520 million to $550 million.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:09 pm

FOX

FOXA

Fox Corporation has authorized a $7 billion stock buyback program. This move is expected to boost shareholder value by reducing the number of shares in circulation, potentially leading to an increase in the stock price.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:58 am

QMCO

Quantum Corporation has revised its Q2 and FY24 guidance downwards. For Q2, it now expects revenues of $80M and a net loss per share of $0.04. For FY24, it expects revenues of $360M and a net loss per share of $0.06. The company attributes the decline to more pronounced declines in its hyperscale and media businesses and the potential impact of a prolonged entertainment work stoppage. Despite the revenue headwinds, the company's gross margins are improving due to a higher revenue contribution from Primary Storage and non-hyperscale Secondary Storage customers.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 11:48 am