Streetbeat News

Equity Actions

JPM

A JPMorgan Chase & Co survey reveals that 75% of investors have a neutral or slightly bearish sentiment due to current market conditions. However, 38% plan to increase their equity exposure in the coming days or weeks, indicating cautious optimism.

Portfolio Pulse from Michael Cohen

May 23, 2023 | 6:17 pm

NVFY

Nova Lifestyle Inc (NASDAQ:NVFY) has completed a one-for-five reverse stock split, decreasing the number of authorized shares from 15 million to 3 million. The stock will trade on a split-adjusted basis starting May 24, 2023. NVFY shares are trading higher by 26% at $0.61.

Portfolio Pulse from Shivani Kumaresan

May 23, 2023 | 5:51 pm

NVFY

Nova LifeStyle, Inc. (NASDAQ:NVFY) has completed a 1-for-5 reverse stock split, effective May 22, 2023. The company's common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market on May 24, 2023 under the symbol NVFY.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 4:48 pm

USFD

US Foods Holding Corp (NYSE:USFD) has priced a secondary offering of 17.4 million shares by KKR Fresh Holdings L.P. at $39.90 per share, a 3.7% discount to the company's closing price on May 22. US Foods will repurchase about $150 million shares being offered in the offering. Upon closing, KKR Fresh will no longer own any common stock or Series A Convertible Preferred Stock of US Foods.

Portfolio Pulse from Shivani Kumaresan

May 23, 2023 | 4:05 pm

FXCOF

RIDE

Lordstown Motors Corp (NASDAQ:RIDE) announced a 1:15 reverse stock split on May 24 to avoid potential Nasdaq delisting and secure a $170-million funding lifeline from Foxconn Technology Co Ltd (OTC:FXCOF). The company has manufactured 56 units of its EV model, the Endurance, and delivered 18 to customers.

Portfolio Pulse from AJ Fabino

May 23, 2023 | 3:30 pm

GH

Guardant Health Inc (NASDAQ:GH) shares are trading lower after announcing a $350 million public offering of 12.5 million shares at $28 per share. The offering is expected to close on May 25, with the company anticipating $350 million in gross proceeds.

Portfolio Pulse from Adam Eckert

May 23, 2023 | 1:18 pm

USFD

US Foods has announced a $150 million share buyback program, signaling confidence in the company's future growth and potentially boosting its stock price.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 1:16 pm

RIDE

Lordstown Motors announced a 1:15 reverse stock split of its Class A common stock effective May 24, 2023, to improve marketability and liquidity. The stock has plunged 73.5% YTD and 13% last week. The company faces potential bankruptcy after Foxconn Ventures sought to withdraw from a $170 million investment deal.

Portfolio Pulse from Anusuya Lahiri

May 23, 2023 | 1:14 pm

USFD

US Foods has announced the pricing of its secondary public offering of common stock at $34.50 per share. The offering is expected to close on February 18.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 1:13 pm

SB

Safe Bulkers, Inc. has announced a 5 million share repurchase program, aiming to return value to shareholders and potentially increase the stock price.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 1:06 pm