Streetbeat News

Equity Actions

PTON

There was a notable options activity for Peloton Interactive, with a sweep of 35 calls for the October 18 expiration at a $6 strike price. The volume of 1,773 contracts at $0.43 each was observed near the ask price, compared to an open interest of 942 contracts, with Peloton's stock reference price at $3.55.

Portfolio Pulse from Charles Gross

May 03, 2024 | 1:50 pm

AAPL

NET

SPY

Apple Inc. saw its stock price increase following a positive earnings report and announcement of a stock buyback. Cloudflare Inc. experienced a decline in its stock price due to providing softer guidance than expected. The April unemployment rate was higher than anticipated, potentially impacting market sentiment and indices like the SPDR S&P 500 ETF Trust.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:32 pm

CGC

Canopy Growth Corporation (CGC) has announced a financing deal with an institutional investor to receive approximately $50 million in gross proceeds and exchange about $20 million of existing debt for a new convertible debenture. The deal includes issuing additional common share purchase warrants and aims to use the proceeds for working capital and general corporate purposes. This move is part of Canopy's strategy to accelerate its entry into the U.S. market, following shareholder approval for the spin-out of Canopy USA.

Portfolio Pulse from Jelena Martinovic

May 03, 2024 | 1:31 pm

CLFD

Clearfield shares surged following the announcement of its Q2 results, which exceeded expectations. Additionally, the company expanded its stock repurchase program.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:21 pm

DBGI

Digital Brands Group, Inc. (DBGI) announced the exercise of certain outstanding warrants for $3.2 million in gross proceeds. These warrants, issued on September 5, 2023, are being exercised at a reduced price of $3.13 per share, down from the original $9.43. The transaction involves Series A and B warrants, with the closing expected around May 7, 2024. Additionally, DBGI will issue new Series A-1 and B-1 warrants at an exercise price of $2.88 per share. H.C. Wainwright & Co. serves as the placement agent. The proceeds are intended for working capital purposes.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:19 pm

KNSL

Kinsale Capital Group's (NYSE:KNSL) short interest has decreased by 14.17% since the last report, with 947 thousand shares sold short, representing 4.3% of its float. This indicates a bullish sentiment as it takes traders 8.11 days to cover their short positions. Compared to its peers, KNSL has a higher short interest percentage of float, suggesting more bearish sentiment among investors towards KNSL than its peers.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 1:15 pm

CTRA

Recent analyst evaluations of Coterra Energy (NYSE:CTRA) show diverse outlooks, with a total of 15 analysts providing ratings ranging from bullish to bearish. The average 12-month price target for CTRA has been raised to $32.6, indicating a 4.19% increase from the previous target. Analyst actions include both upgrades and downgrades, reflecting changes in market conditions and company performance. Coterra Energy, an independent oil and gas company, faces challenges such as a -30.0% revenue decline and below-industry-standard ROE and ROA, despite a strong net margin of 26.0% and a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 1:00 pm

BFRI

Biofrontera announced the achievement of two milestones related to its Series B-3 Convertible Preferred Stock Warrants, which will lead to $8M in payments to the company upon exercise of these warrants.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:55 pm

BRK

DJT

GS

MSFT

SPY

Marjorie Taylor Greene disclosed her latest stock transactions, including purchases of Berkshire Hathaway, Goldman Sachs, Microsoft, and others, while selling shares in various iShares ETFs. Notably, she did not trade in Trump's DJT. The disclosure follows a 2-year gap and adheres to the STOCK Act requirements. The stock market continues to perform well, with SPY showing a 6.5% gain this year.

Portfolio Pulse from Shanthi Rexaline

May 03, 2024 | 12:18 pm

AXL

American Axle & Manufacturing Holdings (AXL) has reiterated its FY24 sales outlook, expecting sales between $6.05B-$6.35B, in line with the $6.2B estimate. The company also targets an Adjusted EBITDA of $685M-$750M and Adjusted free cash flow of $200M-$240M, assuming capital spending of 4.0%-4.5% of sales.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:07 pm