Streetbeat News

Equity Actions

SSYS

The Donerail Group, a large shareholder of Stratasys Ltd. (SSYS), has released an open letter to Stratasys' Board of Directors, urging them to consider alternatives to the Desktop Metal transaction. Donerail highlighted the improved offer from 3D Systems Corporation and the interest from Nano Dimension Ltd., both of which value SSYS stock at nearly a 70% premium to the Stratasys share price following the Desktop Metal news.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:22 pm

AMGN

DIS

LSDI

Richard Nanula, former CFO of The Walt Disney Corporation and Amgen Inc., has taken over as CEO of Lucy Scientific Discovery. He succeeds Chris McElvany, who will remain involved with the company as a consultant. Lucy Scientific Discovery is involved in the development, sale, delivery, and manufacture of pharmaceutical-grade Active Pharmaceutical Ingredients used in controlled substances and their raw material precursors.

Portfolio Pulse from Lara Goldstein

July 14, 2023 | 8:17 pm

BRKL

Brookline Bancorp Inc has filed for a mixed shelf of up to $200 million, according to a SEC filing.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:08 pm

MICS

The Singing Machine Company, Inc. (NASDAQ: MICS) reported its FY23 financial results, showing a decrease in EPS from $0.14 YoY to $(1.65) and a decrease in revenue from $47.5M to $39.3M. The company attributes the decline to a slower holiday retail season due to inflation, higher interest rates, and overall economic conditions. However, the company improved its gross margins to 23.4% and reduced its short-term liabilities by 49%. The company also completed two capital raises and a successful uplisting to Nasdaq during FY23.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:08 pm

BCAN

BYND Cannasoft Enterprises Inc. (BCAN) has announced its intention to offer its securities in a firm commitment underwritten public offering. The company plans to use the net proceeds from this offering for working capital. The offering is subject to market conditions and there is no assurance as to when or if the offering will be completed, or the actual size or terms of the offering.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:05 pm

TIVC

Tivic Health Systems, Inc. (NASDAQ:TIVC) has announced its intention to offer and sell shares of its common stock in a public offering. The proceeds from the offering will be used for working capital and general corporate purposes. The completion of the offering is subject to market and other conditions. Maxim Group LLC is acting as the sole placement agent for the offering.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:04 pm

CGC

Canopy Growth Corp. (NASDAQ:CGC) has announced measures to reduce its debt and enhance financial flexibility. The company plans to reduce its total debt by approximately $437 million within the next six months, with annual interest expense savings estimated to range from $20 to $30 million. The company will also convert approximately 41% of the existing notes into common shares. Additionally, Canopy Growth will redeem a portion of its outstanding senior notes due in July 2023, settling approximately $193 million in principal amount with a combination of cash, common shares, and newly issued convertible debentures.

Portfolio Pulse from Joana Scopel

July 14, 2023 | 7:58 pm

TSNDF

TerrAscend (OTC:TSNDF) (TSX:TSND), a cannabis company operating in Canada and the U.S., has secured a listing on the Toronto Stock Exchange (TSX), a significant milestone in the cannabis industry. This development could potentially attract deeper-pocketed investors, as it offers credibility, liquidity, and an additional layer of security for major investment banks and custodians. However, the company's deal structure is intricate and not easily replicable.

Portfolio Pulse from Javier Hasse

July 14, 2023 | 7:27 pm

PNC

A significant bearish stance has been taken on PNC Financial Services Group (NYSE:PNC) by a large investor, as observed in the options history. The sentiment among these big-money traders is 75% bearish and 25% bullish. The whales have been targeting a price range from $100.0 to $135.0 for PNC over the last 3 months. The price of PNC is currently down by 2.55% at $126.48. Morgan Stanley has downgraded its action to Underweight with a price target of $137.

Portfolio Pulse from Benzinga Insights

July 14, 2023 | 7:20 pm

OXY

A significant bearish stance has been taken on Occidental Petroleum (NYSE:OXY) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 47% bullish and 52% bearish. The whales have been targeting a price range from $20.0 to $75.0 for Occidental Petroleum over the last 3 months. Citigroup and Stephens & Co. have downgraded their actions on OXY with price targets of $62 and $72 respectively.

Portfolio Pulse from Benzinga Insights

July 14, 2023 | 6:47 pm