Streetbeat News

Equity Actions

TSLA

Tesla, Inc. (NASDAQ:TSLA) has received support from T. Rowe Price, its tenth-largest shareholder, for the reinstatement of Elon Musk's 2018 pay package, previously voided by a Delaware judge for being unfair to investors. This backing is crucial ahead of Tesla's June 13 annual shareholder meeting, where a special vote will seek re-approval of the compensation plan. T. Rowe Price's support, holding 22.4 million shares, signifies confidence in Musk's leadership and the plan's alignment with long-term investor interests.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 12:48 pm

ASPN

COP

ENVX

LRCX

MCK

MRVL

PNC

RYTM

VALE

Jim Cramer, on CNBC's 'Mad Money Lightning Round,' provided various stock recommendations including holding ConocoPhillips, buying Marvell Technology, and not selling McKesson. He labeled Rhythm Pharmaceuticals as a speculative play, advised waiting for a lower price on Lam Research, and recommended selling Aspen Aerogels for profit. Cramer was cautious about Enovix due to lack of profitability and suggested a staggered buying approach for PNC Financial Services. He also mentioned Vale S.A. is too low to sell.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 12:46 pm

CLIR

ClearSign Technologies has announced the pricing of an underwritten offering of 4,620,760 shares at $0.91 per share, with each share accompanied by a warrant priced at $0.01.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:36 pm

CNS

NFLX

RWOD

Netflix shares dropped 7% following Q1 financial results. Cohen & Steers shares rose 7% as it's set to join the S&P SmallCap 600. Redwoods Acquisition shares surged 217% after shareholders approved its merger with Anew Medical.

Portfolio Pulse from ryanfaloona@benzinga.com

April 19, 2024 | 12:36 pm

BNIX

Bannix Acquisition Corp. has announced an extension of the deadline to complete its initial business combination from April 14, 2024, to May 14, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:23 pm

KBH

KB Home (NYSE:KBH) announced a $1 billion stock repurchase plan and a 25% increase in its quarterly dividend, from $0.20 to $0.25 per share. This move follows a prior authorization with $113.6 million remaining and is part of a strategy to return value to shareholders while maintaining growth. The company plans to repurchase $200-$400 million in shares in 2024, including $50 million already completed in Q1. The dividend increase results in an annualized rate of $1.00 per share, reflecting a 1.6% yield based on the April 17, 2024 closing price. KB Home's strong balance sheet, with $668.1 million in cash and equivalents as of February 29, 2024, supports these initiatives. KBH shares saw a 1.04% increase in premarket trading to $61.04.

Portfolio Pulse from Shivani Kumaresan

April 19, 2024 | 12:21 pm

NSC

Norfolk Southern Corp. has labeled the near-term targets set by Ancora Alternatives LLC as 'highly unrealistic' and is urging its shareholders to vote for the company's nominees instead of those proposed by Ancora. This dispute highlights a significant disagreement between the railroad company and the investment firm regarding the strategic direction and management goals.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:06 pm

INSP

Inspire Medical Systems (NYSE:INSP) received mixed analyst ratings with a recent shift towards a more bullish outlook. The latest ratings from 7 analysts show an increase in the average 12-month price target to $267.57, up 8.47% from the previous $246.67. Analyst actions include maintaining and raising price targets, reflecting positive market conditions and company performance. Inspire Medical Systems, specializing in minimally invasive solutions for obstructive sleep apnea, shows strong revenue growth and solid financial performance, despite challenges in profitability and equity capital utilization.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 12:01 pm

In the past three months, 23 analysts have provided diverse ratings for Block (NYSE:SQ), with a recent shift towards more bullish sentiments. The average 12-month price target for SQ has been raised to $89.83, up 8.73% from $82.62, reflecting positive adjustments by analysts. Key financial indicators show Block's revenue growth outpacing peers, but challenges in profitability and efficiency metrics like net margin, ROE, and ROA. The company's conservative debt management is noted with a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 12:01 pm

JWN

Analysts have varied opinions on Nordstrom (JWN), with recent ratings showing a mix of indifference and slight bearishness. The average 12-month price target is $17.9, reflecting a 9.15% increase from the previous target. Analyst actions include maintaining, raising, and lowering ratings and price targets, indicating a nuanced view of Nordstrom's market performance. The company's financial health is highlighted by its market capitalization, revenue growth, net margin, ROE, ROA, and debt management, suggesting a complex but potentially promising investment landscape.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 12:01 pm