Streetbeat News

Equity Actions

RNA

Avidity Bioscience has announced a proposed public offering of $300 million of common stock. This move is likely aimed at raising capital for ongoing and future projects.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 8:01 pm

TVGN

Tevogen Bio Holdings Inc. (NASDAQ:TVGN) will join the Russell 3000 Index effective July 1, 2024, as part of the annual reconstitution of the Russell US Indexes.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:47 pm

GME

Jim Cramer has declared victory for GameStop (NYSE:GME) after the company completed its at-the-market equity offering, raising approximately $2.137 billion. Cramer believes this cash position will allow CEO Ryan Cohen to transform the company, potentially turning it into a pseudo-SPAC. Short seller Citron Research has closed its short position in GameStop, citing the company's strong cash reserves.

Portfolio Pulse from Adam Eckert

June 12, 2024 | 6:26 pm

LUV

Artisan Partners Global Value Team has sent a letter to the Board of Directors of Southwest Airlines (NYSE:LUV), urging the board to reconstitute itself and upgrade the company's leadership. Artisan Partners holds over 10.8 million shares of Southwest Airlines, representing approximately 1.82% of the company's outstanding shares. The letter aligns with recent calls from Elliott Investment Management for significant changes in Southwest's management.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:44 pm

GME

GameStop (NYSE:GME) has completed two at-the-market offerings, raising $3 billion. Wedbush analyst Michael Pachter criticized the sale price and lowered the price target to $11. Citron Research is no longer short on GameStop, citing the company's $4 billion cash balance. Investors are optimistic about potential acquisitions and investments by CEO Ryan Cohen.

Portfolio Pulse from Chris Katje

June 12, 2024 | 5:40 pm

CAT

Caterpillar Inc. (NYSE:CAT) shares are rising after the company announced an 8% dividend increase and a $20 billion addition to its share repurchase program. The company also reported strong earnings, surpassing EPS estimates but slightly missing revenue expectations.

Portfolio Pulse from Vaishali Prayag

June 12, 2024 | 5:37 pm

GME

GameStop has seen a significant option alert with a sweep of 10 call options for June 28 at a strike price of $128, near the ask price. The transaction involved 967 contracts at $1.22 each, compared to an open interest of 15,055. The reference stock price at the time was $30.5459.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:08 pm

CNM

Core & Main shares are trading higher following the announcement of a $500 million share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 4:43 pm

PBR

Petrobras CEO Chambriard announced that changes in the executive team are expected by next week.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 4:06 pm