Streetbeat News

Equity Actions

SFIX

Stitch Fix has appointed Matt Baer as its new CEO. Baer has a diverse background, having worked in his family's furniture stores, studied business and law, and worked at e-commerce startups and larger retailers like Walmart and Macy's. Stitch Fix, a tech firm that sends subscribers curated clothing items, has been struggling in recent years after a failed attempt to diversify into conventional retailing.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 2:05 pm

BMY

IMTX

Immatics N.V. (NASDAQ:IMTX) shares are trading higher after the company announced a $35 million equity investment from Bristol-Myers Squibb Company (NYSE:BMY). Bristol Myers Squibb purchased 2.42 million ordinary shares in a private placement transaction at a subscription price per share of $14.46. The companies had expanded their strategic alliance last year to pursue the development of multiple allogeneic off-the-shelf TCR-T and/or CAR-T programs.

Portfolio Pulse from Nabaparna Bhattacharya

July 24, 2023 | 2:05 pm

CRWD

A significant bearish stance has been taken on CrowdStrike Holdings (NASDAQ:CRWD) as evidenced by unusual options activity. The overall sentiment of these big-money traders is 80% bearish. The whales have been targeting a price range from $142.0 to $160.0 for CrowdStrike Holdings over the last 3 months. The price of CRWD is up 0.39% at $151.49. Needham and JMP Securities have downgraded their actions with price targets of $170 and $235 respectively.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 1:46 pm

AMC

APE

KOSS

TUP

Shares of AMC Entertainment Holdings, Koss Corp, and Tupperware Brands Corp are moving following a court's rejection of AMC's proposed settlement with shareholders. The settlement would have allowed for the conversion of AMC Preferred Equity Units into common shares and included a reverse stock split, diluting AMC shareholders. The rejection of the settlement led to a surge in AMC shares, while APE units slid. Other stocks favored by retail investors, including Koss Corp and Tupperware Brands Corp, also moved alongside AMC.

Portfolio Pulse from Adam Eckert

July 24, 2023 | 1:39 pm

AAPL

TSLA

Tesla is planning to meet with India's commerce minister in July to discuss building a factory in India for a new $24,000 car. The factory would produce low-cost electric vehicles for the local market and for export. The Indian government has promised incentives to attract investment from Tesla and Apple. UBS analyst Patrick Hummel downgraded Tesla from Buy to Neutral and raised the price target from $220 to $270.

Portfolio Pulse from Anusuya Lahiri

July 24, 2023 | 1:33 pm

XXII

22nd Century Group, Inc. (NASDAQ:XXII) has announced executive leadership changes, appointing John Miller as interim CEO. The company has also secured an additional $11.7 million in gross proceeds from direct financing and implemented a $15 million cost reduction initiative. Furthermore, the company has expanded its board with the appointment of Wall Street veteran Andrew Arno as an independent director.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 1:25 pm

ICAGY

International Consolidated Airlines Group SA (ICAGY) has invested in Nova Pangaea Technologies (NPT), a cleantech company that develops advanced biofuels for Sustainable Aviation Fuel. The investment will speed up the development of NPT's first commercial-scale waste-to-fuel production facility, NOVAONE. The deal makes ICAGY a minority shareholder in NPT. ICAGY plans to use NPT's technology to help other airlines in its group decarbonize.

Portfolio Pulse from Akanksha Bakshi

July 24, 2023 | 1:19 pm

CVKD

Cadrenal Therapeutics has filed for the resale of up to 8.85 million shares of common stock by the selling stockholders, according to a SEC filing.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 1:19 pm

LYFT

Lyft is considering strategic alternatives for its bike division, including a potential sale or partnership with an investor. The company acquired a bike-rental operation in 2018, which has been popular in several cities but is also a costly logistical challenge. The move is part of a series of changes by new CEO David Risher to turn around the struggling company. Since taking over, Risher has cut jobs, introduced new features, and mandated office returns. Lyft's market share has increased recently, and its stock has risen more than 19% since Risher's appointment.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 1:10 pm

HRTX

Heron Therapeutics, Inc. (NASDAQ:HRTX) has announced a cost reduction plan and corporate restructuring, which is expected to result in cash savings of approximately $75 million through 2025. The company's new management team conducted a strategic review of the business, leading to these actions. The plan includes a $30 million equity financing, streamlining operational expenditures, and reducing the company's employee base by 25%. The company aims to achieve profitability by late 2024.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 1:07 pm