Streetbeat News

Equity Actions

CRNC

Cerence Inc (CRNC) shares are down 12.3% after pricing a $190 million offering of convertible senior notes due 2028. The company estimates net proceeds of approximately $184.1 million, which will be used for various purposes including repurchasing its 2025 notes and repayment of its term loan facility.

Portfolio Pulse from Henry Khederian

June 22, 2023 | 6:05 pm

UP

Wheels Up Experience shares resumed trading after a temporary halt. The company, which provides private aviation services, recently went public through a SPAC merger.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 5:56 pm

ADBE

Adobe Inc.'s stock price is at $475.05, after a 0.51% decrease. Over the past month, the stock spiked by 21.14%, and in the past year, by 22.50%. Adobe has a lower P/E ratio than the aggregate P/E of the Software industry, which could indicate undervaluation or weak growth prospects.

Portfolio Pulse from Benzinga Insights

June 22, 2023 | 5:02 pm

AEP

BX

Blackstone Infrastructure Partners has invested an additional $1 billion in sustainable energy solutions provider Invenergy, raising its total stake to nearly $4 billion. Invenergy plans to use the investment to accelerate growth and advance its portfolio of clean energy projects.

Portfolio Pulse from AJ Fabino

June 22, 2023 | 4:40 pm

CRNC

Cerence priced an offering of $190 million of convertible senior notes, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 4:24 pm

KRE

Jim Labenthal announced on CNBC that he has sold his position in the SPDR S&P Regional Banking ETF (KRE).

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 4:15 pm

NRG

NRG Energy's shares are trading higher following the announcement of an increased share repurchase authorization and a cost reduction initiative.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 4:14 pm

MEDS

TRxADE Health (MEDS) stock is surging on high volume after a 1-for-15 reverse stock split took effect today, reducing the company's outstanding shares from 10,210,878 to 680,726. The reduced number of shares combined with high trading volume has increased price volatility.

Portfolio Pulse from Erica Kollmann

June 22, 2023 | 3:42 pm

GENK

GEN Restaurant Group, Inc (NASDAQ:GENK) is set to IPO on June 23, offering shares at an expected price between $10.00 and $12.00 per share. The company has 32 company-owned restaurants in the US, offering traditional Korean and Korean-American food.

Portfolio Pulse from Benzinga Insights

June 22, 2023 | 3:00 pm

MEDS

TRxADE Health's shares are trading higher on unusually high volume following the announcement of a 1-for-15 reverse stock split, which took effect today.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 2:38 pm