Streetbeat News

Equity Actions

TLIS

Talis Biomedical Corporation (NASDAQ:TLIS) has announced a 1-for-15 reverse stock split of its common stock, effective at 5:00 p.m. Eastern time on July 5, 2023. The move is primarily intended to increase the company's per share market price to regain compliance with the minimum per share bid price requirement for continued listing on The Nasdaq Capital Market. The reverse stock split will reduce the number of issued and outstanding shares of the company's common stock from approximately 26.9 million to approximately 1.8 million.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:06 pm

TRNR

Bradley Wickens, a notable hedge fund manager and founder of Broad Reach Investment Management, has increased his stake in Interactive Strength Inc. (NASDAQ:TRNR), a premium digital smart home fitness company. Wickens, who started with a 10% ownership stake, has made a series of purchases since the company's IPO in May, recently acquiring 20,000 shares at an average price of $5.71. This insider buying is often viewed as a positive sign for the company's future growth and share price. Another UK-based investment firm, Block.one, also recently purchased TRNR shares.

Portfolio Pulse from shashankjacob@benzinga.com

July 05, 2023 | 12:00 pm

EWG

INTC

SOXX

Germany's Finance Minister Olaf Scholz has indicated that there are other chip projects in the works by German and other companies. The specific companies involved were not mentioned in the article.

Portfolio Pulse from Charles Gross

July 05, 2023 | 11:29 am

EWG

INTC

Germany's Finance Minister Olaf Scholz has stated that Intel's investment in the country is a positive sign that companies are looking to expand semiconductor production in Germany.

Portfolio Pulse from Charles Gross

July 05, 2023 | 11:28 am

NGS

Stephen C. Taylor has agreed to continue his role as Interim CEO and President of Natural Gas Services (NGS) until December 31, 2023, or until a successor is appointed. Donald J. Tringali has been appointed as the Lead Independent Director, succeeding David L. Bradshaw.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 11:04 am

RVLP

RVL Pharmaceuticals is considering strategic alternatives, including acquiring a specific potential counterparty in an all-stock deal. The company is also in discussions with potential financing sources for the combined company and is in business development discussions with other parties.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 10:54 am

AHI

CGC

DNOW

MVIS

NKLA

RXT

TSLA

U.S. stock futures traded lower with several big stocks recording losses in pre-market trading. Advanced Health Intelligence Ltd. (AHI) shares declined 11.9% after Bank of New York Mellon raised its stake in the company. Canopy Growth Corporation (CGC) shares dropped 10% despite recent gains. Nikola Corporation (NKLA) shares fell 8.8% following the announcement of asset liquidation of Romeo Power. Other companies experiencing pre-market losses include Kingsoft Cloud Holdings Limited (KC), Rackspace Technology, Inc. (RXT), NOW Inc. (DNOW), MicroVision, Inc. (MVIS), and Tesla, Inc. (TSLA).

Portfolio Pulse from Lisa Levin

July 05, 2023 | 10:33 am

BLV

LYV

NTES

UMGNF

WMG

Goldman Sachs has identified five stocks to leverage the trend of generative AI in the music industry: Live Nation (LYV), Warner Music Group (WMG), Believe (BLV), NetEase (NTES), and Universal Music Group (UMGNF). The bank believes that AI will enhance music creation and boost productivity, and that concerns over AI-generated music are overstated. Despite falling revenue per audio stream, Goldman Sachs sees potential in Live Nation due to expected increase in artist tours and globalization of music.

Portfolio Pulse from Benzinga Newsbot

July 05, 2023 | 10:10 am

SPY

USO

VGK

Saudi Energy Minister has stated that the recent cuts in oil production prove wrong the cynical spectators of Russia-Saudi relations. This statement comes in the wake of the OPEC+ agreement to cut oil production to stabilize prices.

Portfolio Pulse from Charles Gross

July 05, 2023 | 9:02 am

LCID

Lucid Motors (NASDAQ:LCID) faced criticism on Twitter after claiming to be an American company in a Fourth of July post, with users pointing out that the majority of the company is owned by Saudi Arabia's Public Investment Fund (PIF). The PIF recently increased its stake in Lucid to over 60% through a private placement, acquiring 265.7 million shares at a premium price of $6.83 per share, generating approximately $1.82 billion in gross proceeds.

Portfolio Pulse from Anan Ashraf

July 05, 2023 | 2:35 am