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Equity Actions

COIN

MRNA

SQ

TWLO

U

Cathie Wood's Ark Invest sold shares of Coinbase (COIN) and Block Inc (SQ), despite recent cryptocurrency market highs. Ark offloaded $7.3 million worth of Coinbase shares through ARKK and $8.95 million in Block shares through ARKK and ARKW. The sales occurred amidst a backdrop of Bitcoin and Ethereum's price adjustments after a period of significant gains. Additionally, Ark Invest made other key trades, including purchasing Moderna (MRNA) shares, selling Twilio (TWLO) shares, and increasing its stake in Unity Software (U).

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 5:23 am

EXLS

EXL (NASDAQ:EXLS), a data analytics and digital operations company, announced a $125M accelerated share repurchase (ASR) agreement with Citibank, N.A. to buy back its common stock. This move is part of EXL's capital allocation program and aims to enhance stockholder value. The repurchase will be funded by cash on hand or borrowing, and the final number of shares bought will depend on the stock's average prices during the ASR term. This ASR is under EXL's existing $500M stock repurchase program.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 9:13 pm

KLAC

KLA announced its plan to exit the FPD (Flat Panel Display) systems market, expecting this move to have an immaterially favorable impact on its profitability margins over the longer term. The company believes that focusing on its core competencies will enhance its financial performance.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 9:12 pm

KLAC

KLA Corp has reaffirmed its Q3 revenue guidance at $2.3B, +/- $125M, aligning with an estimate of $2.313B, but has reduced its adjusted EPS outlook from a range of $5.26 +/- $0.60 to $4.83 +/- $0.60, below the estimated $5.31. The company also anticipates $60-$70 million in non-cash expenses for writing off excess and obsolete inventory and $50-$70 million for impairment of goodwill and purchased intangible assets for the quarter ending March 31, 2024. Consequently, KLA Corp has revised its GAAP gross margin guidance to 56.6% +/- 1.0% for the March quarter.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 9:11 pm

BYND

Beyond Meat Inc (NASDAQ:BYND) shares fell in after-hours trading following the company's announcement of a mixed securities shelf offering of up to $250 million. This offering could include various securities such as common stock, preferred stock, debt securities, and more. Beyond Meat reported $205.9 million in cash and equivalents and $1.1 billion in debt as of the end of December. The stock has underperformed the broader market, losing about 45% over the past year. Analysts have set an average one-year price target of $8.50 for BYND, with a high of $10 and a low of $7. After-hours trading saw the stock down 6.14% at $7.80.

Portfolio Pulse from Adam Eckert

March 18, 2024 | 9:11 pm

KLAC

KLA Corp has announced its strategic decision to exit the flat panel display business, which is a part of its PCB, Display, and Component Inspection reporting segment, according to a recent filing.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 9:05 pm

WT

The board of WisdomTree has unanimously voted to extend its existing Limited Duration Stockholder Rights Plan, which has been amended. This move is aimed at protecting the interests of the company and its shareholders.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:54 pm

ACHR

SFS UK 1 LTD. has acquired 1.5 million shares of Archer Aviation (ACHR) common stock at a price of $5.09 per share, according to a recent Form 4 filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:52 pm

GNTY

The board of Guaranty Bancshares has approved a share repurchase program, allowing the company to buy back up to 1.25 million shares. This move is often seen as a sign of confidence by the company's management in its financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:48 pm

STNE

StoneCo announces plans to appoint Mauricio Luchetti as Chairman and Gilberto Caldart as Vice-chairman, following the decision of founder André Street and others not to seek re-election at the next Annual General Meeting by end of April 2024.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:43 pm