Streetbeat News

Equity Actions

AAPL

AES

MRVL

SNX

Hedge funds adjusted their portfolios in Q1 2024, focusing on AI-related infrastructure stocks and cyclical sectors. Positions in several 'Magnificent Seven' tech stocks were trimmed, except for Apple. Marvell Technology, TD Synnex, and AES Corporation saw increased hedge fund interest.

Portfolio Pulse from Piero Cingari

May 24, 2024 | 4:20 pm

WAY

Waystar, a healthcare payments software company, plans to launch a $950 million IPO as soon as Tuesday, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:15 pm

AKAN

DECK

GNLX

INTU

MRUS

TLSI

VSTM

U.S. stocks traded higher with the Nasdaq Composite gaining around 1%. Intuit shares fell 8% despite better-than-expected earnings due to weak guidance. Akanda Corp. shares surged 70% after a reverse stock split. Merus N.V. shares rose 37% following a positive abstract publication. Deckers Outdoor Corporation shares increased 13% on strong quarterly results. Verastem, Inc. shares dropped 61% after initiating a rolling NDA submission. TriSalus Life Sciences shares fell 26% following an exchange offer announcement. Genelux Corporation shares declined 45% after pricing a $27.5 million stock offering.

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 4:07 pm

GNLX

Genelux Corporation (NASDAQ:GNLX) shares dropped by 40.7% to $2.73 after announcing an underwritten offering of 6.875 million shares and accompanying warrants at $4.00 each. The offering aims to raise approximately $27.5 million before expenses to support corporate activities and the clinical development of Olvi-Vec. The offering is expected to close around May 29, 2024.

Portfolio Pulse from Henry Khederian

May 24, 2024 | 3:19 pm

USO

Saudi Arabia is planning a multi-billion dollar share sale of Saudi Aramco as soon as June, which could raise $10 billion according to sources.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:12 pm

SINT

SINTX Technologies Inc (NASDAQ:SINT) shares fell by 14% to $0.06 after announcing a 1-for-200 reverse stock split to meet Nasdaq's minimum bid price requirements. This action will reduce the outstanding shares from approximately 123 million to 0.6 million.

Portfolio Pulse from Henry Khederian

May 24, 2024 | 2:34 pm

LILM

Lilium N.V. (NASDAQ:LILM) shares are dropping after the company announced $114 million in financing, including a $40 million public offering and a $50 million private placement. The stock is down 15.4% on heavy trading volume.

Portfolio Pulse from Erica Kollmann

May 24, 2024 | 2:33 pm

GODN

Golden Star announced the cancellation of its Business Combination EGM due to Gamehaus needing to complete filing with the China Securities Regulatory Commission (CSRC). The board decided to allow more time for the closing conditions to be met.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:07 pm

BACK

IMAC Holdings has appointed Faith Zaslavsky as the new CEO, succeeding Jeff Ervin.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:01 pm

AKAN

Akanda Corp. (NASDAQ:AKAN) shares are surging in premarket trading following the announcement of a 1-for-40 reverse stock split effective May 23, 2024. The company will file Articles of Amendment to reflect this change and will not issue fractional shares, rounding down instead. Akanda's portfolio includes CanMart in the U.K. and a Canadian farming property for THC and CBD development.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2024 | 12:50 pm