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BTMD

Biote Corp. (NASDAQ:BTMD) has reached an agreement to resolve litigation with its founder, Dr. Gary S. Donovitz, by repurchasing approximately 18.4 million of its Class A shares and Paired Interests from Donovitz at $4.17 per share, totaling about $76.9 million. This settlement includes a mutual release of all claims, termination of the founder advisory agreement, and a two-year non-compete and non-solicitation agreement with Donovitz. The repurchase is supported by Biote's strong capital position and is expected to be accretive to shareholder value.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:14 pm

AVGR

Avinger, Inc. has been granted a new U.S. patent (#11903677) for its innovations in occlusion-crossing devices, imaging, and atherectomy devices. This patent strengthens Avinger's intellectual property portfolio, potentially enhancing its competitive position in the medical device market.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 8:32 pm

DIS

FOX

FUBO

WBD

FuboTV has initiated legal action to prevent ESPN, Warner, and Fox Sports from launching a joint streaming service, as reported by the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 8:03 pm

ACI

The Federal Trade Commission (FTC) and several states are planning to file a lawsuit against the proposed merger between Kroger and Albertsons next week, according to Bloomberg. This legal action could potentially block or delay the merger, impacting the future operations and strategic plans of both companies.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 7:14 pm

RIO

Rio Tinto PLC (NYSE:RIO) is facing investor scrutiny as it prepares to release its full-year 2023 earnings on Feb. 21, amid a share price dip of over 11% year-to-date and allegations of water pollution in Mongolia and Madagascar. Despite these challenges, the company's diversified commodity portfolio, strategic assets, and optimistic iron ore price outlook could present a value opportunity. However, the technical setup appears bearish, with mixed signals from moving averages and a neutral consensus analyst rating with a price target of $6.45.

Portfolio Pulse from Surbhi Jain

February 20, 2024 | 7:02 pm

AGRI

DFS

EVA

FLR

MEDS

MNPR

VZIO

Fluor Corporation's shares fell by 7.7% following its Q4 results, with earnings beating estimates but sales missing expectations. Other stocks moved significantly in Tuesday's session, with notable gainers including TRxADE HEALTH, AgriFORCE Growing Systems, and Monopar Therapeutics, among others, due to various positive announcements. Losers included RAPT Therapeutics, MicroCloud Hologram, and Summit Therapeutics, primarily due to negative news or disappointing results.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 6:21 pm

SSRM

SSR Mining Inc (NASDAQ:SSRM) shares declined after environmental permits for its Copler mine in Turkey were revoked. RBC Capital Markets downgraded SSRM from Sector Perform to Underperform, reducing the price target from $6 to $3. The revocation and charges against several employees at Copler are expected to significantly reduce SSRM's production through 2027.

Portfolio Pulse from Priya Nigam

February 20, 2024 | 5:47 pm

CCI

Crown Castle Inc. (CCI) has rejected a slate of directors nominated by Ted Miller's Boots Capital for its Board, focusing instead on a CEO search and a strategic review of its fiber business. The company has made significant progress, including appointing three new independent directors and initiating a comprehensive review of its fiber operations with the help of top advisors. CCI's Board will present its formal recommendation for the election of directors at the 2024 Annual Meeting of Stockholders scheduled for May 22, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:40 pm

RAPT

RAPT Therapeutics Inc (NASDAQ:RAPT) shares plummeted after the FDA placed a clinical hold on Phase 2b and 2a trials of zelnecirnon for atopic dermatitis and asthma, respectively, due to a serious adverse event of liver failure in one patient. The company is investigating the case, which involved a patient with a complex medical history. RAPT shares are down 65.7% at $8.9.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 5:24 pm

Macy's, Inc. (NYSE:M) has received director nominations from Arkhouse Management Co. LP for its 2024 Annual Meeting. This follows an unsolicited proposal from Arkhouse and Brigade to buy Macy's at $21.00 per share, which the Board deemed not actionable due to financing concerns. Macy's emphasizes its commitment to value creation and plans to share its strategy in the upcoming earnings report. The company's financial advisors, Bank of America Securities and Wells Fargo, along with legal advisor Wachtell, Lipton, Rosen & Katz, are engaging with Arkhouse and Brigade to potentially advance discussions.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 3:23 pm