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First Quantum Minerals is considering selling a minority stake in its Zambian copper operations, including the Sentinel and Kansanshi mines, amid efforts to consolidate its portfolio and focus on reopening its key asset in Panama. The company has signed non-disclosure agreements with several interested parties for due diligence. Despite previous rumors of selling these assets to Jiangxi Copper, First Quantum remains committed to its Zambian operations and has raised around $1 billion to reduce debt and improve liquidity.

Portfolio Pulse from Stjepan Kalinic

March 05, 2024 | 2:23 pm

MYMD

MyMD Pharmaceuticals, Inc. (NASDAQ:MYMD) has regained compliance with Nasdaq's minimum bid price requirement for continued listing on the Nasdaq Capital Market. This follows a 1-for-30 reverse stock split conducted on February 14, 2024, aimed at increasing the stock's trading price. The company's stock met the required minimum closing bid price of $1.00 or more for 10 consecutive business days, achieving compliance on March 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:21 pm

PRAX

Praxis Precision Medicines has filed with the SEC for a mixed shelf offering of up to $750 million. This move allows the company to sell various types of securities over time, providing flexibility in financing its operations and growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:14 pm

TWLO

Twilio has reaffirmed its Q1 guidance and provided financial targets for FY24 and FY25, including achieving GAAP operating profitability by Q4 2025 and a non-GAAP income from operations of $550M-$600M for FY24. The company announced an additional $2 billion share repurchase program, on top of the $1 billion program authorized earlier in 2023, with almost $800 million already completed. These announcements reflect Twilio's operational review outcomes and replace previous financial frameworks.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:13 pm

TWLO

Twilio announced the conclusion of its operational review of its Segment business, targeting break-even non-GAAP income from operations by Q2 2025 and GAAP operating profitability by Q4 2025. The company also announced a $2B expansion of its share repurchase authorization and the appointment of Thomas Wyatt as President of Twilio Segment. Twilio aims to address Segment's underperformance through operational changes and believes retaining Segment will enhance shareholder value. The share repurchase reflects confidence in Twilio's strategy and improved cash flow. Twilio affirms its Q1 2024 guidance and provides targets for FY 2024 and FY 2025.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:11 pm

KIQ

Kelso Technologies Inc. (KIQ) announced its intention to voluntarily delist its shares from the NYSE American due to non-compliance with the exchange's listing standards related to low share price. The company decided against a reverse split, deeming it not in shareholders' best interest. Kelso's shares will continue to trade on the Toronto Stock Exchange (TSX). The delisting process is expected to be completed around March 25, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:06 pm

SOFI

SoFi Technologies Inc (NASDAQ:SOFI) shares dropped after announcing a proposed offering of $750 million in convertible senior notes due 2029, with an option for purchasers to buy an additional $112.5 million. The proceeds are intended for capped call transactions, redeeming Series 1 Preferred Stock, and general corporate purposes including repaying higher cost debt.

Portfolio Pulse from Adam Eckert

March 05, 2024 | 2:03 pm

RDDT

Reddit's IPO has sparked a polarizing debate among its users, with discussions focusing on concerns over unpaid moderators, lack of user loyalty, financial viability, copyright issues, and the purpose of going public. Some Redditors are considering shorting the stock, citing these issues as potential risks to the company's future success.

Portfolio Pulse from Surbhi Jain

March 05, 2024 | 2:01 pm

SOFI

SoFi Technologies announced a proposed $750 million convertible senior notes offering due 2029, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:51 pm

PATK

Patrick Industries, Inc. (NASDAQ:PATK) announced the appointment of Andy Roeder as Executive Vice President-Finance, Chief Financial Officer (CFO), and Treasurer, effective March 5. Roeder, with extensive experience in finance and the marine industry, including roles at Polaris Boats and Bennington Marine, is expected to support Patrick's strategic growth in the Outdoor Enthusiast and Housing markets. The company expressed confidence in Roeder's ability to contribute to its financial foundation and growth objectives. Matt Filer, who served as Interim CFO since May 2023, will resume his role as Senior Vice President-Finance and take on the role of Corporate Controller.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:33 pm