Streetbeat News

Equity Actions

NTAP

NetApp has announced an additional $1 billion share repurchase authorization, indicating confidence in its financial health and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:10 pm

LFMD

LifeMD shares are trading higher following the announcement that the stock will be added to the Russell 3000 index.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 7:25 pm

AVDE

AVSD

UBS

UBS Group AG (NYSE:UBS) announced a significant reshuffle in its Group Executive Board, effective July 2024, including splitting its top wealth management role. The changes aim to streamline operations and emphasize long-term growth, particularly in the Americas and Asia-Pacific. UBS shares rose 2.33% following the announcement.

Portfolio Pulse from Lekha Gupta

May 30, 2024 | 6:50 pm

SPG

Recent options trading activity for Simon Property Group (NYSE:SPG) indicates a bearish sentiment among large investors, with 6 put options and 2 call options detected. The price target for SPG is between $125.0 and $155.0. The stock is currently trading at $148.07, up by 0.66%, with an RSI indicating it may be approaching overbought territory. An analyst from Scotiabank maintains a Sector Perform rating with a price target of $152.0.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:45 pm

DIS

PEP

PG

SPY

Activist investor Nelson Peltz, through Trian Fund Management, increased his stake in Walt Disney Co (NYSE:DIS) last October and owned more than 1% by the end of 2023. Despite losing a proxy battle to oust CEO Bob Iger, Peltz sold his entire Disney stake for nearly $1 billion. Disney's stock has outperformed the SPDR S&P 500 Trust (NYSE:SPY) in 2024, although it dropped 10% on May 7. Peltz has previously taken activist positions in companies like Proctor & Gamble Co (NYSE:PG) and PepsiCo (NYSE:PEP).

Portfolio Pulse from Aaron Bry

May 30, 2024 | 6:43 pm

JNJ

SRPT

SWAV

Sarepta Therapeutics (NASDAQ:SRPT) stock is rising after the announcement that it will be added to the S&P MidCap 400, replacing Shockwave Medical (NASDAQ:SWAV). Johnson & Johnson (NYSE:JNJ) is expected to acquire Shockwave Medical, pending final closing conditions.

Portfolio Pulse from Dylan Berman

May 30, 2024 | 6:20 pm

PARA

PARAA

Paramount's independent committee is set to review an enhanced merger offer from Skydance, which includes improved terms for both nonvoting and voting shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 5:47 pm

BRKR

Bruker Corp (NASDAQ:BRKR) shares are down 6.6% to $67.80 after announcing a public offering of 6 million shares, with an option for underwriters to purchase an additional 900,000 shares. The proceeds will be used to reduce debt from recent acquisitions.

Portfolio Pulse from Henry Khederian

May 30, 2024 | 4:35 pm

INSM

Insmed shares are trading higher following the announcement of a $650 million public offering.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 3:33 pm

SSNT

SilverSun Technologies, Inc. (NASDAQ:SSNT) stockholders have approved an equity investment agreement with Jacobs Private Equity II, LLC (JPE) and minority co-investors, resulting in a $1 billion cash investment into SilverSun.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 2:49 pm