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Equity Actions

SIDU

Sidus Space Inc has filed for a mixed shelf offering of up to $75 million, according to Reuters.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 11:23 am

RILY

B. Riley Financial has priced its share offering at $55 per share, with a total of 1,818,182 shares being offered.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 11:06 am

ODFL

Old Dominion Freight Line (ODFL) has announced a new share repurchase program for up to $3.0 billion of its outstanding stock. This program will commence after the completion of the company's existing $2.0 billion repurchase program, which had $376.9 million remaining as of June 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 11:05 am

WNC

Wabash National has increased its FY23 EPS guidance to $4.25-$4.65 from $4.00-$4.50, which is higher than the estimated $4.13. However, the company has lowered its revenue outlook to $2.6B-$2.8B from $2.8B-$3.0B, which is lower than the estimated $2.8B.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 10:58 am

OTIS

Otis has revised its full year outlook for FY23, raising its adjusted EPS to $3.45-$3.50 from $3.40-$3.50 and adjusted sales to $14B-$14.3B from $13.9B-$14.2B. The company also expects organic sales to increase by 4.5 to 6%, with new equipment sales up 3 to 5% and service sales up 6 to 7%. Adjusted operating profit is projected to be $2.25 to $2.28 billion, and free cash flow is expected to be $1.5 to $1.55 billion. Otis also plans to repurchase $800 million of its shares.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 10:12 am

STLA

Stellantis NV reported a 12% YoY revenue growth in 1H FY23 to €98.4 billion, driven by higher shipments. Revenue in North America, Enlarged Europe, and Middle East & Africa rose by 8%, 11%, and 55% respectively. Global BEV sales increased 24% YoY to 169,000 vehicles. The company's net profit for 1H FY23 increased 37% to €10.9 billion. Stellantis repurchased €0.7 billion in shares in 1H 2023 and plans to complete the €1.5 billion share buyback program by the end of 2023. STLA shares are trading higher by 2.38% at $18.95 in premarket.

Portfolio Pulse from Shivani Kumaresan

July 26, 2023 | 10:09 am

WFC

Wells Fargo has announced a raise in its quarterly dividend and a $30 billion stock repurchase program, leading to a rise in its share prices.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 10:06 am

FXI

SPY

The US Senate has backed a measure that requires reporting on Chinese technology investments. This move could potentially affect the performance of ETFs like FXI and SPY, which have exposure to Chinese companies.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 8:48 am

ARKG

MRK

MRNA

Cathie Wood's Ark Investment Management has increased its stake in Moderna, Inc. (NASDAQ:MRNA) by $12M this week, ahead of the company's Q2 results. The purchases were made through Ark Genomic Revolution ETF (CBOE: ARKG), which now holds 244,271 shares of Moderna, accounting for 1.26% of the portfolio. Moderna is expected to report a loss of $4.03 per share, a significant reversal from a profit of $5.24 in the year-ago period. The company is also developing a personalized cancer vaccine with Merck & Co., Inc. (NYSE:MRK).

Portfolio Pulse from Shanthi Rexaline

July 26, 2023 | 6:47 am

DXF

Dunxin Financial has priced its registered direct offering at $1.00 per American Depositary Share (ADS), aiming to raise $1.09 million.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:26 am