Streetbeat News

Equity Actions

AFBI

APCU/Center Parc Credit Union is set to acquire Affinity Bank, a subsidiary of Affinity Bancshares. The transaction is expected to close in late 2024 or early 2025, after which Affinity and Affinity Bank will liquidate and distribute remaining assets to shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:45 pm

LXP

LXP Industrial Trust announced that Beth Boulerice will step down from her roles as CFO and Treasurer effective March 1, 2025. Nathan Brunner will succeed her and has been appointed Executive Vice President of Capital Markets effective September 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:42 pm

PD

PagerDuty's Board of Directors has approved a share repurchase program of up to $100 million, set to continue through May 29, 2026. The repurchases will be made on the open market or through negotiated transactions.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:25 pm

AIG

CRBG

AIG has announced the launch of a 30 million share offering by its subsidiary, Corebridge Financial. This move is likely to impact both AIG and Corebridge Financial in the short term.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:22 pm

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