Streetbeat News

Equity Actions

HSY

Hershey Co (NYSE:HSY) reported Q2 FY23 sales growth of 5% YoY to $2.49 billion, slightly missing the consensus of $2.50 billion. The company's North America Confectionery segment net sales rose 4.4% YoY, and International segment sales increased 8.5%. Gross margin expanded to 45.5%, and gross profit rose 13.2% YoY. Adjusted EPS of $2.01 beat the analyst consensus of $1.91. The company also announced a 15% increase in quarterly dividends. Hershey raised its FY23 adjusted EPS growth outlook and expects net sales growth of 8%.

Portfolio Pulse from Shivani Kumaresan

July 27, 2023 | 1:51 pm

GOOG

GOOGL

META

MSFT

NVDA

QQQ

SMH

SOXX

SPY

Nvidia Corp's stock is trading higher, boosted by Meta Platforms Inc's positive Q2 results. Meta's revenue was $32 billion, up 11% YoY, beating the Street consensus estimate of $31.12 billion. This has added to the Wall Street momentum driving up tech sector stock prices. Microsoft Corp and Alphabet Inc's positive earnings results earlier this week also had a positive impact. Semiconductor ETFs like VanEck Semiconductor ETF and iShares Semiconductor ETF are trading higher by over 2% today. Broader index ETFs like SPDR S&P 500 and Invesco QQQ Trust, Series 1 are trading higher by ~1%.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:38 pm

INVO

INVO BioScience has announced a 1-for-20 reverse stock split, which will be effective pre-market opening on July 28.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:28 pm

ABVC

ABVC BioPharma has announced the pricing of a $1.75 million registered direct offering of 500,000 shares at $3.50 per share.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:24 pm

SEMR

Semrush Holdings, Inc. (NYSE:SEMR) has announced two new AI-powered features for its Listing Management Tool. The features aim to help users respond to online reviews faster and find higher-quality keywords for their local business listings. The company has also advanced and expanded a number of its other tools using generative AI in 2023, including ContentShake, Kompyte GPT, and Purchase Conversion. Semrush has also enhanced its App Center offerings with new AI-backed apps.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:17 pm

CELU

Celularity Inc. (NASDAQ:CELU) has announced a registered direct offering of 8,571,428 shares and warrants at a price of $0.35 per unit, resulting in total gross proceeds of approximately $3 million. The warrants will be exercisable six months after issuance and will expire five years after the initial exercise date. The closing of the offering is expected to occur on July 31, 2023.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:12 pm

CUTR

Cutera, Inc. (NASDAQ:CUTR) has announced the appointment of Taylor Harris as its new CEO, effective from August 7, 2023. Harris, who has over 20 years of experience in the healthcare industry, will succeed Sheila Hopkins, the current Interim CEO. Harris previously served as the CFO of MyoKardia and ZELTIQ Aesthetics, and has been a member of Cutera's Board since June 2023.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:08 pm

VICI

Canyon Ranch, a wellness destination, has announced a growth partnership with VICI Properties, a real estate investment trust. The partnership aims to expand Canyon Ranch's wellness offerings across North America and beyond. VICI Properties will invest an additional $150M in the partnership, which will power the expansion of Canyon Ranch to new markets for both its Wellness Club and Destination Resort offerings. The first location to debut both offerings will be Texas, with the inaugural Wellness Club opening in Fort Worth this fall, a Houston location in 2024, and the Canyon Ranch Austin resort in 2025.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:05 pm

ASXC

Asensus Surgical, Inc. (NYSE:ASXC) has announced a registered direct offering of 23,809,524 shares and warrants at a price of $0.42 per unit. The offering is expected to close on July 31, 2023, and is expected to generate gross proceeds of $10 million. The funds will be used for general corporate purposes, including working capital and funding research and development activities.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:04 pm

OTRK

Ontrak has announced a 1-for-6 reverse stock split. This action is typically taken by companies to increase the market price of their shares.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 12:51 pm