Streetbeat News

Equity Actions

GES

The board of Guess? has authorized a new $200 million share repurchase program, signaling confidence in the company's financial health and future prospects. This move is likely to be viewed positively by investors as it often indicates a belief by the company's management that its stock is undervalued.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:08 am

FHN

First Horizon announced the redemption of its 6.10% Fixed to Floating Non-cumulative Perpetual Preferred Stock, Series D, and corresponding Series D Depositary Shares at $25.00 per share. The redemption does not include accrued dividends as the redemption date coincides with a dividend payment date. The regular semi-annual Series D dividend declared in January will be paid on May 1, 2024, to shareholders of record as of April 16, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:48 am

THC

Tenet Healthcare has successfully completed the sale of six hospitals and their related operations in California, in line with the terms that were previously disclosed. This move is part of Tenet's strategic repositioning and focus on optimizing its portfolio for better financial and operational performance.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:46 am

AKTX

Akari Therapeutics reported a cash position of approximately $3.8M as of December 31, 2023. In March 2024, the company raised around $2M through a private placement and plans to secure more capital in Q2 of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:35 am

AVTX

Avalo Therapeutics announced a cash balance of $7.4M and a capital raise of $185M in March 2024, expected to extend its cash runway into 2027.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:24 am

AAPL

BBY

DKS

LEN

MSFT

TOL

Jim Cramer emphasized the importance of share count reduction in driving stock performance, noting that over half of the S&P 500 stocks reaching new 52-week highs in Q1 benefited from this strategy. He highlighted companies across housing, retail, and technology sectors, including Lennar, Toll Brothers, Best Buy, Dick's Sporting Goods, Apple, and Microsoft, as examples of firms that have significantly reduced their share counts since 2019. This trend is seen as a positive indicator for the S&P 500, which is predicted to surge by 15% by the end of 2024.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 10:23 am

TSQ

Townsquare Media, Inc. (TSQ) announced the repurchase and retirement of 1.5 million shares of Class A common stock from MSG National Properties, LLC at $9.76 per share, an 11% discount from the closing price on March 28, 2024. This follows previous repurchases in June 2023 and March 2021. The $14.6 million purchase was funded with cash on hand. Townsquare's Cash Flow from Operations increased 35% year-over-year to $68 million in 2023, with the transaction increasing Cash Flow per share to approximately $4.47, a 10% accretion. Post-transaction, the company has 15.2 million shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:05 am

ELAN

Activist investor Ancora has successfully secured two board seats at Elanco, as reported by Bloomberg. This move could signal potential strategic shifts or operational improvements at Elanco, influenced by Ancora's positions.

Portfolio Pulse from Charles Gross

April 01, 2024 | 8:43 am

GOOG

GOOGL

MSFT

NVDA

Sir Demis Hassabis, co-founder of Google DeepMind, expressed concerns over the exaggerated hype surrounding artificial intelligence (AI), comparing it to the crypto buzz. He believes this overshadows real scientific progress in AI. Despite the hype, Hassabis remains optimistic about AI's transformative potential, citing DeepMind's AlphaFold as a significant advancement. The article also mentions the surge in funding for AI startups and the interest in major tech companies like Microsoft, Alphabet, and Nvidia, which are leading the AI revolution.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 8:07 am

NE

Noble Corporation has expanded its share capital through new issuances, which includes the vesting of Restricted Stock Units (RSUs) for employees. This move could potentially dilute existing shareholders but also indicates potential growth and investment in its workforce.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 6:34 am