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Equity Actions

NCMI

National CineMedia (NCMI) shares surged following the announcement of better-than-expected Q4 financial results and a new $100 million share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 11:05 am

ACXP

Acurx Pharmaceuticals' shares are trading lower following the company's announcement of a common stock offering.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 11:04 am

SMCI

Super Micro Computer has filed for a stock shelf offering, planning to offer up to 2 million shares of its common stock. This move allows the company to sell shares over time, providing flexibility in financing its operations or growth initiatives.

Portfolio Pulse from Charles Gross

March 19, 2024 | 10:54 am

CAL

CNM

CTRN

NCMI

YY

U.S. stock futures are trading lower, with focus on Core & Main, JOYY Inc., Caleres, National CineMedia, and Citi Trends due to earnings reports and corporate actions. Core & Main is expected to report earnings with a slight decrease in after-hours trading. JOYY Inc. reported strong Q4 earnings but forecasts Q1 revenues below market estimates, yet shares increased. Caleres is anticipated to report earnings with a slight rise in after-hours trading. National CineMedia reported upbeat Q4 results and announced a $100 million share repurchase program, leading to a significant share price increase. Citi Trends is expected to report earnings, with a decrease in after-hours trading.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 8:12 am

PRTC

PureTech Health plc (NASDAQ:PRTC) announces a proposed capital return of $100 million to shareholders via a Tender Offer at 250 pence per share, a 25% premium to its trailing three-day VWAP. This follows the $14 billion acquisition of Karuna Therapeutics by Bristol Myers Squibb, from which PureTech will receive approximately $293 million gross proceeds. The Tender Offer is set to launch after the publication of the company's Full Year Results in April 2024.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 7:11 am

DEO

Diageo Plc announced that Sir John Manzoni will become the new Chairman of the Board on February 5, 2025, succeeding Javier Ferrán. Manzoni, a current non-executive director at Diageo, has a notable background including roles at the UK Civil Service, SSE plc, KBR, Inc., SAB Miller plc, Talisman Energy, and BP plc.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 7:09 am

AZN

FUSN

AstraZeneca (NASDAQ:AZN) is set to acquire Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) for $2 billion in cash plus additional contingent payments, totaling a potential $2.4 billion. This acquisition aims to enhance AstraZeneca's oncology portfolio with Fusion's next-generation radioconjugates. The offer represents a significant premium over Fusion's recent market prices.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 7:06 am

MDGL

Madrigal Pharmaceuticals, Inc. (MDGL) has announced the pricing of an upsized public offering of 750,000 shares at $260 per share, along with pre-funded warrants for 1,557,692 shares at $259.9999 each. This move is aimed at raising funds to support its efforts in developing treatments for nonalcoholic steatohepatitis (NASH).

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 6:13 am

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