Streetbeat News

Equity Actions

NCMI

National CineMedia announced a new $100M share repurchase program, signaling confidence in the company's financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:02 pm

INBS

Intelligent Bio Solutions Inc has filed with the SEC for an offering of up to 6.8 million shares by the selling stockholders. This move could potentially dilute current shareholders' equity and impact the stock's price.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 7:36 pm

GOEV

NVEI

SAIC

SOND

SWIN

WKSP

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Communication services shares led the gains, while industrials saw modest increases. Science Applications International Corp (SAIC) shares fell after reporting a revenue decline in Q4 fiscal 2024. Canoo Inc. (GOEV), Wearable Devices Ltd. (WLDS), and Nuvei Corporation (NVEI) saw significant stock price increases due to various positive developments. Solowin Holdings (SWIN), Sonder Holdings Inc. (SOND), and Worksport Ltd. (WKSP) experienced substantial drops in their share prices due to financial results and other issues. Oil and gold prices were up, while silver saw a slight decline.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 7:15 pm

ATMU

CMI

Cummins Inc. (CMI) successfully completed its exchange offer, finalizing the separation of Atmus Filtration Technologies Inc. (ATMU). Cummins exchanged 5,574,051 of its own shares for 67,054,719 shares of Atmus, with the offer being oversubscribed. The exchange did not include any remaining shares of Atmus, marking a complete separation. The process was managed by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, aiming to enhance shareholder value and allow both companies to focus on their respective markets.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 7:06 pm

ARKK

SARK

TARK

The AXS Short Innovation Daily ETF (SARK) is designed for traders looking to short Cathie Wood's ARKK Innovation ETF, which has underperformed the general market. SARK trades near flat, mirroring ARKK's stagnant performance. SARK, an actively managed fund, inversely tracks the AXS 2X Innovation ETF (TARK), aiming to capitalize on disruptive innovation's downturns. The article also highlights a potential upside for SARK based on technical analysis, suggesting a move towards $30 if it breaks above $27.90.

Portfolio Pulse from Melanie Schaffer

March 18, 2024 | 6:52 pm

HLN

PFE

Haleon shares are trading lower following Pfizer's announcement of its intention to reduce its stake in the company. This move by Pfizer could indicate a shift in its investment strategy or a reallocation of resources, impacting investor perception and Haleon's market valuation in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 6:10 pm

DIS

Trian Group, owning $3.5 billion of Disney (DIS) stock, released a letter urging shareholders to vote for change by electing Nelson Peltz and Jay Rasulo as new independent directors at Disney's 2024 Annual Meeting. Trian criticizes Disney's current board for the company's underperformance and believes Peltz and Rasulo can help restore Disney's financial health and strategic focus.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 5:40 pm

HROW

IMTX

LLY

ZTS

Today's session highlighted significant whale activity in the health care sector, focusing on options trading for 10 companies. The trades varied in sentiment, with both bullish and bearish positions taken across a range of expiration dates and strike prices. Notable activity included bullish calls on HROW, ZTS (despite being a put), SHC, ABBV, and AMGN, and bearish positions on IMTX, LQDA, MDGL, DXCM, and LLY (despite being a put). This activity could indicate investor expectations and market movements.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 5:35 pm

SHC

Sotera Health saw significant options activity with a sweep of 715 calls for May 17 at $15, priced near the ask at $0.897, against an open interest of 27. This activity comes ahead of their earnings report estimated on May 1, with the reference stock price at $14.335.

Portfolio Pulse from Charles Gross

March 18, 2024 | 5:27 pm

SYRE

Spyre Therapeutics announced a $180 million private placement of Series B non-voting convertible preferred stocks at $1,480 per share, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 5:11 pm