Streetbeat News

Equity Actions

MBRX

Moleculin Biotech, Inc. has announced a 1-for-15 reverse stock split, effective immediately. This corporate action is typically undertaken to boost the stock's price to meet exchange listing requirements or to improve the stock's perception among investors. The reverse split reduces the number of shares outstanding, increasing the price per share correspondingly, without changing the company's market capitalization.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:32 pm

CTO

CTO Realty Growth, Inc. (NYSE:CTO) announced the sale of a mixed-use property in Santa Fe, New Mexico for $20M, generating a $4.6M gain. The proceeds are intended for a core power center acquisition in Orlando and to repay part of a credit facility. The sale is part of a Section 1031 like-kind exchange.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:25 pm

AMCR

Amcor reaffirms its FY24 guidance, projecting an adjusted EPS of $0.67-$0.71, aligning with an estimated $0.69. The guidance includes a mix of underlying business performance ranging from a low-single digit decline to a low-single digit increase, a 2% benefit from share repurchases, and a 6% negative impact from higher estimated net interest and tax expense.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:21 pm

MITK

Mitek Systems projects FY23 revenue to be between $180M-$185M, aligning with a $182.03M estimate. For FY24, it anticipates a non-GAAP operating margin of 30%-31%. The company highlights a significant multi-year mobile deposit reorder that contributed to an adjusted fiscal 2024 revenue growth forecast of approximately 12%.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:20 pm

BUD

MO

Altria has initiated $2.4 billion in accelerated share repurchase transactions following the closure of its offering of Anheuser-Busch InBev stock. This move is part of Altria's strategy to return value to its shareholders.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:17 pm

AMCR

Amcor announced that CEO Ron Delia will retire and step down from the board for health reasons, effective April 15, 2024. Peter Konieczny, the current Chief Commercial Officer, has been appointed as Interim CEO. The board is searching for a permanent successor, considering both internal and external candidates.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:17 pm

NDAQ

Nasdaq, Inc. (NDAQ) and Borse Dubai announced the commencement of a secondary offering of 26,956,522 shares of Nasdaq's common stock by Borse Dubai, with an option for underwriters to purchase up to 4,043,478 additional shares. Nasdaq will not offer any shares or receive proceeds from this offering. Post-offering, Borse Dubai will hold approximately 10.8% of Nasdaq's outstanding shares, becoming the second largest shareholder. Borse Dubai commits to an 18-month lock-up period for its remaining shares and retains the right to nominate a board member as long as it owns at least 10% of Nasdaq's shares. The offering aims to enhance Borse Dubai's capital structure and liquidity, reflecting a long-term partnership and shared vision between the two entities.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:16 pm

AQST

Aquestive Therapeutics' stock price is trading lower following the announcement of a proposed public offering. This move indicates the company is seeking to raise capital, but it often leads to dilution of existing shares, negatively impacting their value in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:04 pm

LGVN

Longeveron's Board has approved a 1-for-10 reverse split of its Class A common stock, effective March 26, 2024, at 11:59 p.m. Eastern Time. The stock will trade on a split-adjusted basis under the ticker symbol 'LGVN' on The Nasdaq Capital Market starting March 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:02 pm

AQST

Aquestive Therapeutics has announced a proposed public offering of its common stock, although the size of the offering has not been disclosed. This move could potentially dilute current shareholders but also provide the company with necessary capital for operations or expansion.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:02 pm