Streetbeat News

Equity Actions

ADBE

A significant bearish stance has been taken on Adobe (NASDAQ:ADBE) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 42% bullish and 57% bearish. The whales have been targeting a price range from $480.0 to $550.0 for Adobe over the last 3 months. Morgan Stanley has upgraded Adobe to Overweight with a price target of $660.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 1:47 pm

NAVB

Navidea Biopharmaceuticals, Inc. (NYSE:NAVB) is focusing on advancing its technology to market and intends to appeal the potential delisting of its stock from the NYSE. The company has made several strategic changes, including reducing administrative expenses, promoting key personnel, and entering into various agreements to secure funding. It has also sold assets and launched a Strategic Partnership Initiative. Despite the potential delisting, Navidea sees opportunities for diverse capital sources and strategic agility. The company's clinical trials NAV3-32 and NAV3-33 are progressing, with the former nearing completion.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:34 pm

ECOR

ElectroCore, Inc. (NASDAQ:ECOR) has announced a registered direct offering and concurrent private placements priced at market under Nasdaq rules. The company will issue and sell 1,675,914 registered shares of common stock and unregistered warrants to institutional and accredited investors. Additionally, 169,968 shares of common stock will be sold to the company's officers and directors. The total gross proceeds are expected to be approximately $8.145 million. The proceeds will be used for sales and marketing, working capital, and general corporate purposes. The offerings are expected to close on August 2, 2023.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:30 pm

GIGM

GigaMedia's CEO, James Huang, has announced that the company will continue to pursue healthy growth with a lean operation while seeking strategic expansion and new business opportunities.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 1:23 pm

BE

Bloom Energy (NYSE:BE) has announced its first customer in Germany, Geothermie-Gesellschaft Bruchsal GmbH, an affiliate of energy conglomerate EnBW. Under the agreement, 300 kilowatts of Bloom's solid oxide fuel cells will provide base load power to the geothermal plant in Bruchsal. This marks Bloom's first Combined Heat and Power (CHP) installation in Germany. The company has been expanding its presence in Europe over the past year.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:22 pm

GWAYF

Greenway Greenhouse Cannabis Corporation (OTCQB:GWAYF) (CSE:GWAY) reported FY23 revenue of CA$5.6 million ($4.2 million), a 183% increase from FY22. However, gross profit decreased by 12% to CA$741,990 and gross margin dropped to 13.2% from 42.5%. The company also reported a loss of CA$2.6 million, slightly less than the CA$2.9 million loss in FY22. Greenway issued 964,285 common shares to Hybrid Financial Ltd. in partial settlement of outstanding debt.

Portfolio Pulse from Vuk Zdinjak

July 31, 2023 | 1:14 pm

SKY

Skyline Champion Corporation (NYSE:SKY) has elected Eddie Capel as Chair of the Board, effective July 27, 2023. Capel, who has been a director of Skyline Champion since 2019 and the CEO of Manhattan Associates, Inc. since 2013, is expected to contribute to the achievement of Skyline Champion's long-term objectives and help the company transform homebuilding and homeownership.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:12 pm

RKT

Rocket Companies (NYSE: RKT) has appointed Varun Krishna as its new CEO, effective from September 5, 2023. Krishna, who has over 20 years of experience in fintech, will succeed Bill Emerson, the interim CEO. Krishna previously served as Executive Vice President and General Manager, Consumer Group of Intuit, Inc. and Senior Director of Product at PayPal. Bob Walters, the current CEO of Rocket Mortgage and President and COO of Rocket Companies, will retire on the same day.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 1:04 pm

BABA

Alibaba Group Holding Limited's stock is trading slightly up amid reports of the unlikelihood of the Ant Group's IPO in the short term. Ant Group recently won approval to buy back up to 7.6% of its equity interest from investors, valuing Alibaba's fintech affiliate at $78.54 billion. In July, China ended its regulatory overhaul on the Alibaba fintech affiliate with a record penalty of $984 million. Ant Group paid the fine for violating consumer protection and corporate governance laws. Jack Ma's holding companies invested $1.5 million in a newly established marine technology firm.

Portfolio Pulse from Anusuya Lahiri

July 31, 2023 | 1:03 pm

ISIG

Insignia Systems, Inc. (NASDAQ:ISIG) has announced that its shareholders have approved the sale of its in-store marketing business to Park Printing, Inc. The sale is expected to close on August 3, 2023. Following the sale, Insignia Systems will focus on building a non-bank lending platform. The company's President and CEO, Kristine Glancy, will depart from the company at the end of August 2023.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:02 pm