Streetbeat News

Equity Actions

AAU

Almaden Minerals has initiated an arbitration notice against Mexico and announced its delisting from the NYSE American to move to the OTCQB market. This decision comes as a significant step for the company, potentially impacting its stock visibility and investor base.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 6:10 am

ECPG

Encore Capital has successfully priced an upsized offering of $500 million in senior secured notes at an interest rate of 9.250%, with these notes set to mature in 2029. This move indicates the company's strategy to secure long-term financing at a fixed interest rate.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 5:40 am

ODD

ODDITY has priced a secondary offering of 4,782,609 Class A Ordinary Shares at $43.50 each, with an option for underwriters to purchase up to an additional 717,391 shares. The offering, closing on March 19, 2024, involves only the Selling Stockholder's shares, with no proceeds going to ODDITY.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 5:33 am

HXSCL

NVDA

SSNLF

TSM

Fidelity International advises investors to look beyond the current AI market leaders like NVIDIA, suggesting exploration of indirect AI beneficiaries such as semiconductor foundries, packaging technology companies, and memory companies. The firm draws parallels between the AI hype and the dot-com bubble, indicating a potential similar trend. Despite NVIDIA's significant gains, other companies like Taiwan Semiconductor, Samsung Electronics, and SK Hynix have also seen substantial growth, benefiting from the AI boom.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 4:06 am

TSLA

Ross Gerber, a significant investor in Tesla Inc (NASDAQ:TSLA), has suggested that Tesla's recent stock decline could be reversed by a change in CEO Elon Musk's behavior or his replacement. The stock has fallen over 36% this year due to poor earnings, a lackluster product lineup, and broader market challenges. Wells Fargo downgraded Tesla's stock with a price target of $125, citing a 'growth company with no growth'. Despite this, Dan Ives of Wedbush Securities predicts a 77% rebound in Tesla's stock within the next 12 months, suggesting improvements to Musk's compensation and share control as solutions.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 2:17 am

BX

Blackstone Inc. (NYSE:BX) President Jon Gray highlighted the current investment opportunities in commercial real estate, citing the market's discounted assets and growth potential. During the Bank of America Global Investor Summit, Gray pointed out the lack of fierce competition for these assets and the need for new capital in the sector. Blackstone has been active in capitalizing on these opportunities, including a bid for a $17 billion portfolio of commercial-property loans. With assets reaching $1 trillion in July 2023, Blackstone's optimistic outlook on commercial real estate is backed by its significant growth and strategic investments.

Portfolio Pulse from Piero Cingari

March 14, 2024 | 9:30 pm

WPM

Wheaton Precious Metals (WPM) has updated its dividend policy, moving from a system that distributed 30% of the average of the last four quarters' operating cash flows to a progressive dividend policy. This change is highlighted by an increase in the quarterly cash dividend for the first quarter of 2024 to $0.155, up from the previous quarter's $0.15.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 9:14 pm

M

Macy's announced the nomination of Douglas W. Sesler for election to its board, replacing Francis S. Blake who will not seek reelection due to the mandatory retirement age policy. Blake has served since 2015.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 9:01 pm

ONTF

The board of ON24 has approved a share repurchase program allowing the company to buy back up to $25 million of its own 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 14, 2024 | 8:51 pm

AJG

Arthur J. Gallagher & Co. has entered into an equity distribution agreement with Morgan Stanley, allowing it to offer and sell up to 3 million shares. This move could potentially increase the company's liquidity and fund its strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 8:50 pm