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Equity Actions

AULT

Ault Alliance announced the termination of the marketing process for its four hotels owned by Ault Global Real Estate Equities (AGREE), a wholly owned subsidiary. Consequently, AGREE's assets and liabilities, previously classified as held for sale, will now be considered as held and used. This reclassification affects $91.0 million in assets and $70.4 million in liabilities as of December 31, 2023, which will be moved from discontinued to continuing operations in future financial statements.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 10:34 am

BNR

Burning Rock Biotech announced an adjustment in the ratio of its American depositary shares (ADS) to Class A ordinary shares, effective May 15. The new ratio will be one ADS representing ten Class A ordinary shares, a change from the current one-to-one ratio.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:39 am

BLTE

Belite Bio has entered into a securities purchase agreement with an institutional investor for a registered direct offering of 651,380 ADSs at $38.38 each, plus warrants, with a closing expected by April 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:03 am

CVX

GOOG

MSFT

PSX

XOM

U.S. stock futures are trading higher with focus on Exxon Mobil, Microsoft, Chevron, Alphabet, and Phillips 66 due to earnings reports and announcements. Exxon Mobil is expected to report earnings with a slight share drop in after-hours. Microsoft exceeded earnings and sales expectations, causing a share price jump. Chevron is anticipated to post earnings with a minor after-hours share decrease. Alphabet announced a significant share repurchase program and a dividend, leading to a substantial share price increase. Phillips 66 is expected to report earnings with a slight increase in after-hours trading.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 6:59 am

NWE

NorthWestern Corp. has reaffirmed its 2024 earnings guidance, projecting EPS of $3.42 to $3.62, aligning with a consensus of $3.49. The company also confirmed its $500 million capital plan and anticipates a long-term EPS growth of 4% to 6% from the 2022 base year. Key assumptions include normal weather, a 12%-14% effective income tax rate, and 61.3 million diluted average shares outstanding. NorthWestern expects rate base growth of 4% to 6% without the need for equity issuances, though future strategic opportunities may require such financing.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:46 am

AZZ

AZZ Inc. has priced its public offering of 4 million shares of common stock at $70 per share, aiming to raise gross proceeds of $280 million.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:31 am

VINC

Vincerx Pharma, Inc. (NASDAQ:VINC) has announced the pricing for its underwritten public offering, which includes 6,000,000 shares of common stock and warrants, as well as pre-funded warrants for up to 16,000,000 shares. The offering prices are set at $0.75 for each share and accompanying warrant, and $0.7499 for each pre-funded warrant and accompanying warrant.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:29 am

MSFT

Microsoft projects its total revenue to grow in double digits by FY2025, with capital expenditures expected to be higher than in FY24. However, operating margins are anticipated to decrease by approximately 1 point, as revealed in a conference call.

Portfolio Pulse from Charles Gross

April 25, 2024 | 10:03 pm

RCON

Recon Technology has announced a 1-for-18 reverse stock split, a move typically aimed at increasing the market price of a company's shares. This action can affect the stock's liquidity and potentially its listing status, depending on the exchange's minimum price requirements.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:11 pm

CLS

Celestica Inc. (NYSE: CLS) announced the successful election of its board of directors nominees and the approval of share reclassification at its Annual and Special Meeting of Shareholders. The reclassification involves removing multiple voting shares and redesignating subordinate voting shares as common shares.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:10 pm