Streetbeat News

Equity Actions

LEN

Blu Putnam, chief economist at CME Group, shared his insights on inflation and market reactions, expressing optimism about curbing inflation. He noted that companies have been maintaining profit margins better than expected, positively impacting equity prices. Homebuilders like Lennar Corporation (NYSE:LEN) are benefiting from a lack of used housing supply.

Portfolio Pulse from Josh Walter

June 21, 2023 | 7:13 pm

OSG

Overseas Shipholding Group (OSG) announced a $10 million increase in its share repurchase program, leading to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 6:44 pm

ACGL

Arch Capital Group's (ACGL) share price increased by 1.07% to $71.55 in the current market session. The stock has a lower P/E ratio than the aggregate P/E of the insurance industry, which could indicate undervaluation or weak growth prospects.

Portfolio Pulse from Benzinga Insights

June 21, 2023 | 5:45 pm

NFLX

Netflix shares are trading lower by 2.44% to $424.08 as stocks across sectors pull back after a recent surge on AI optimism. The decline is also attributed to Fed Chair Powell's rate hike comments, which may lead investors to seek safer investment options, affecting high-growth stocks like Netflix.

Portfolio Pulse from Henry Khederian

June 21, 2023 | 5:36 pm

OSG

Overseas Shipholding Group (OSG) announced a $10 million increase in its stock repurchase program, raising the total value to $20 million. The company may repurchase shares in open market transactions or privately negotiated transactions, with no time limit on the program.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 5:24 pm

MEDS

TRxADE Health, Inc. (NASDAQ:MEDS) has announced a 1-for-15 reverse stock split, effective June 22, 2023. The company's outstanding shares will be reduced from 10,210,878 to 680,726, with the aim of increasing the marketability of its stock to a broader range of potential investors.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 4:37 pm

BLK

BTCUSD

DOGEUSD

Major cryptocurrencies like Bitcoin, Ether, and Dogecoin are trading at a monthly high, with Bitcoin breaking $26,500 for the first time in over a month. BlackRock submitted an application for a Bitcoin ETF in the U.S., and EDX Markets, backed by Charles Schwab, Citadel Securities, and Fidelity Digital Assets, launched its trading services. Experts attribute the rise to institutional interest and economic forecasts.

Portfolio Pulse from Murtuza Merchant

June 21, 2023 | 4:25 pm

BLK

BTCUSD

BlackRock has submitted a request for the first-ever Bitcoin ETF in the US, signaling a shift towards mainstream adoption of cryptocurrency. Bitcoin has shown a strong recovery from its low of $15,479 in November 2022, increasing by 79% since then.

Portfolio Pulse from Zaheer Anwari

June 21, 2023 | 4:12 pm

ABR

ROCC

Arbor Realty Trust (ABR) shares are trading higher after the announcement that the company will join the S&P SmallCap 600, replacing Ranger Oil Corp. (ROCC) on June 23. ABR is a real estate investment trust with a portfolio of structured finance assets in various real estate markets.

Portfolio Pulse from Erica Kollmann

June 21, 2023 | 3:46 pm

DMAC

DiaMedica Therapeutics has raised $37.5 million through a private placement, issuing 11.01 million common shares at $3.40 per share. The proceeds will be used to fund the development of DM199, including the ReMEDy2 clinical trial, and for general corporate purposes. The FDA has also lifted the clinical hold on the ReMEDy2 trial.

Portfolio Pulse from Nabaparna Bhattacharya

June 21, 2023 | 3:40 pm