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Equity Actions

GM

At the BofA Securities 2024 Automotive Summit, General Motors CFO Paul Jacobson discussed GM's progress in EV production and capital allocation. GM is on track to meet its 2024 EV production goal, with the Cadillac LYRIQ setting monthly sales records. The company aims for EV profitability by 2025 and has initiated a $10 billion share repurchase program. Jacobson also highlighted a $2 billion cost reduction program and the strategic review of Cruise, GM's autonomous vehicle technology.

Portfolio Pulse from Tornado

March 28, 2024 | 3:58 pm

AWIN

AERWINS Technology's shares are trading lower following the announcement of a 1-for-100 reverse stock split. This significant consolidation of shares typically indicates an attempt to boost the stock price or comply with stock exchange listing requirements.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:56 pm

CCI

Ted B. Miller, co-founder of Crown Castle Inc. (CCI), and his investment vehicle, Boots Capital Management, LLC, have filed preliminary proxy materials with the SEC for Crown Castle's 2024 Annual Meeting. Miller criticizes the current leadership for destroying shareholder value and proposes a new slate of directors to restore the company's performance. Crown Castle's stock recently hit a six-year low, underperforming peers for over a decade. Miller's plan aims to refocus on the core tower business and reverse the company's fortunes.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:54 pm

NCNA

NuCana plc (NASDAQ:NCNA) shares dropped 15.2% to $0.26 after announcing a reverse ADS split from 1:1 to 1:25, effective around April 16, aiming to enhance liquidity and meet Nasdaq's minimum bid price requirement. The adjustment may lead to a proportional increase in ADS trading price, but this is not guaranteed. The company's 52-week trading range is from $0.23 to $1.00.

Portfolio Pulse from Henry Khederian

March 28, 2024 | 3:41 pm

AWIN

AERWINS Technologies Inc. (NASDAQ:AWIN) announced a 1-for-100 reverse stock split effective April 2, 2024, to meet Nasdaq's $1.00 minimum bid price requirement. The split was approved by stockholders and will adjust shares, warrants, options, and RSUs proportionally. No change in total authorized shares; fractional shares will be rounded up.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:27 pm

FXI

SPY

TSLA

The World Trade Organization (WTO) has reported that China has initiated a dispute over U.S. tax credits for electric vehicles and renewable energy, according to Reuters. This move by China could escalate tensions between the two largest economies over clean energy incentives.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:26 pm

TNXP

Tonix Pharmaceuticals Holding Corp. (TNXP) shares are trading lower following the announcement of a $4.4 million registered direct offering.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:21 pm

ATS

ATS shares are trading lower following the announcement of a C$163 million secondary offering of common shares.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:10 pm

PRKS

United Parks & Resorts announced a $500 million share repurchase authorization and amended its stockholders agreement with Hill Path Capital LP, leading to a rise in its shares.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:09 pm

MTB

M&T Bank (NYSE:MTB) received mixed analyst ratings with a recent average price target of $162.29, up 4.7% from the previous target. The bank's financial performance shows a revenue decline of -2.69% but outperforms in ROE and ROA, despite a high debt-to-equity ratio. Analysts' actions vary, with some raising and others maintaining or lowering their ratings and price targets.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 3:00 pm