Streetbeat News

Equity Actions

AKAN

DECK

GNLX

MRUS

TLSI

VSTM

U.S. stocks traded higher with the Nasdaq Composite gaining over 1%. Notable stock movements included Akanda Corp. (AKAN) rising 34% after a reverse stock split, Merus N.V. (MRUS) surging 34% following an abstract publication, and Deckers Outdoor Corporation (DECK) increasing 13% due to strong quarterly results. Conversely, Verastem, Inc. (VSTM) shares plummeted 65% after initiating a rolling NDA submission, TriSalus Life Sciences, Inc. (TLSI) fell 21% amid an exchange offer, and Genelux Corporation (GNLX) dropped 41% following a stock offering announcement.

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 6:47 pm

CSCO

DIA

IBM

INTC

NVDA

Nvidia (NVDA) reported strong Q1 results and announced a 10-for-1 stock split, potentially positioning itself for inclusion in the Dow Jones Industrial Average (DJIA). Analysts suggest Nvidia could replace Intel (INTC) in the DJIA due to its relevance in AI and technology growth. The stock split is seen as a strategic move to make Nvidia more attractive for retail investors and index inclusion.

Portfolio Pulse from Chris Katje

May 24, 2024 | 4:55 pm

NYC

American Strategic Investment shares are trading higher after Bellevue Capital Partners announced an increase in its purchase price for its previously announced tender offer for shares of the company.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:37 pm

GNLX

Genelux shares are trading lower following the announcement of a $27.5 million underwritten offering of common stock and accompanying warrants.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:22 pm

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