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Equity Actions

GDDY

GoDaddy projects a ~33% normalized EBITDA margin by 2026 and anticipates generating $4.5B or more in cumulative free cash flow over the next three years. The company aims for a capital return strategy that targets a free cash flow per share compounded annual growth rate of over 20%.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:47 pm

ALB

Albemarle Corporation's stock is trading higher following the announcement of an upsized $2 billion offering of depository shares, an increase from the previously announced $1.75 billion.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:39 pm

HCP

HashiCorp's stock is trading higher following the announcement of better-than-expected Q4 financial results and the initiation of a share repurchase program valued at up to $250 million.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:37 pm

NYCB

NYCB is conducting an equity capital raise transaction, issuing shares of common stock and convertible preferred stock at $2.00 per share, aiming to raise $1.05 billion. Investors will also receive 60% warrant coverage at $2.50 per share. The preferred stock, convertible into common stock, comes with quarterly dividends and specific conversion conditions, including regulatory approvals and charter amendments. Liberty has rights for an underwritten shelf take-down and block trades.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:15 pm

NYCB

New York Community Bancorp, Inc. (NYCB) announced a significant equity investment exceeding $1 billion from a consortium led by Liberty Strategic Capital, Hudson Bay Capital, and Reverence Capital Partners. The investment is anchored by notable figures such as former U.S. Treasury Secretary Steven Mnuchin. This capital infusion is aimed at bolstering NYCB's balance sheet and liquidity, with the bank planning to add four new directors to its Board, including Mnuchin and former Comptroller of the Currency Joseph Otting, who will also serve as the new CEO. The move is seen as a positive endorsement of NYCB's turnaround strategy and is expected to position the bank for long-term profitability and growth.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:13 pm

DPST

Direxion Daily Regional Banks Bull 3X Shares (DPST) experienced a significant increase following news that New York Community Bank (NYCB) successfully raised over $1 billion in equity, with notable leadership in the effort from Steven Mnuchin's investment firm. This development is seen as a positive signal for the regional banking sector, potentially indicating strong investor confidence and financial stability within this segment.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:11 pm

NYCB

New York Community Bancorp (NYCB) successfully raised over $1 billion in equity, with significant backing from a firm led by Steven Mnuchin. This capital infusion is aimed at bolstering NYCB's financial position and supporting its growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:06 pm

RSKD

Recent analyst evaluations of Riskified (NYSE:RSKD) show diverse outlooks, with a shift towards a more neutral stance in the last 30 days. The average 12-month price target has been raised to $5.5, indicating a 15.79% increase from the previous target. Riskified's financial performance shows positive revenue growth but challenges in net margin and ROA. The company's low debt-to-equity ratio suggests a healthy balance between debt and equity.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 7:00 pm

NYCB

New York Community Bancorp Inc (NYSE:NYCB) shares plummeted following reports the bank is seeking a capital infusion through a potential equity sale. The stock was halted multiple times after The Wall Street Journal reported the bank's efforts to shore up confidence. Concerns arose after weak financial results, a dividend cut, and fears over commercial real-estate loan losses. The situation worsened with Moody's downgrading the bank's ratings to junk and the replacement of its CEO and board director.

Portfolio Pulse from Adam Eckert

March 06, 2024 | 6:40 pm

CME

Five analysts have recently updated their ratings on CME Group (NASDAQ:CME), showing a mix of bullish and bearish sentiments. The average 12-month price target is now $213.4, down 7.35% from the previous $230.33. Analyst actions include ratings from 'Buy' to 'Sell' with price target adjustments reflecting market conditions and company performance. CME Group, a major financial exchange operator, has shown strong financial performance with a notable net margin and ROE, but faces challenges in ROA and revenue growth compared to peers.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 6:00 pm