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WM

Waste Management (WM) has announced plans to repurchase up to $1.5 billion of its common stock, replacing the remaining authority under its previous $1.5 billion authorization from 2022.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 10:41 pm

AMC

AMC Entertainment has successfully raised $350 million through the sale of approximately 48.0 million shares at an average price of $7.29 per share. The company has used part of these funds to reduce its debt by $62 million.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 10:36 pm

IIPR

SNDL

Skymint, a Michigan-based cannabis producer, is closing its Harvest Park facility and laying off 180 employees by March 1, 2024, due to excess supply, decreasing prices, and cost inflation in the state's cannabis sector. The company, which operates 22 retail locations, was acquired out of bankruptcy for $109.4 million by Tropics LP, a subsidiary of SunStream Bancorp Inc., sponsored by SNDL Inc. (NASDAQ: SNDL). The dispensaries were reported to generate $68 million in annualized sales as of September. Skymint's financial issues included a $127 million lawsuit by Tropics over breached agreements and a sharp decline in sales, leading to a revenue drop to $110 million in 2022. Innovative Industrial Properties Inc. (NYSE: IIPR), which owns the Harvest Park property, has not commented on its future plans. SNDL's stock was down 2.71% at $1.435 per share.

Portfolio Pulse from Joana Scopel

December 11, 2023 | 10:30 pm

CMND

Clearmind Medicine Inc has filed an F-3 form with the SEC for a mixed shelf offering, allowing the company to issue various types of securities up to a total of $50 million.

Portfolio Pulse from Charles Gross

December 11, 2023 | 10:26 pm

EIS

The White House expressed concerns over reports that Israel used U.S.-supplied white phosphorus munitions in an attack on southern Lebanon in October, potentially violating international humanitarian law. The Washington Post's analysis of shell fragments found in a Lebanese village indicated that at least nine civilians were injured. Amnesty International suggested investigating these actions as potential war crimes. White House spokesperson John Kirby stated the U.S. expects such munitions to be used lawfully. Israeli Defense Minister Yoav Gallant affirmed Israel's adherence to international law. The iShares MSCI Israel ETF (EIS) dropped 1.26% following the news.

Portfolio Pulse from Piero Cingari

December 11, 2023 | 10:20 pm

SAGA

Sagaliam Acquisition Corp. has received a delisting notification from Nasdaq. The notice is a standard procedure when a company fails to meet Nasdaq's listing requirements. The specific reasons for the delisting notice were not disclosed in the article. Sagaliam Acquisition Corp. will have the opportunity to appeal the decision or to take corrective actions to regain compliance with Nasdaq's listing rules.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 10:17 pm

DIS

DKNG

For the first time, two Monday Night Football games will air simultaneously on Dec. 11, with the Tennessee Titans at Miami Dolphins on ESPN and the Green Bay Packers at New York Giants on ABC. Walt Disney Company (NYSE:DIS) holds the rights to these games, potentially boosting viewership. DraftKings Inc (NASDAQ:DKNG) has set betting odds for both games, favoring the Dolphins by 13.5 points and the Packers by 6 points. The Dolphins' strong season performance and feature on 'Hard Knocks' could attract new fans, while the Packers' perfect December record under Coach LaFleur may influence betting.

Portfolio Pulse from Chris Katje

December 11, 2023 | 10:06 pm

LCID

Lucid Group, Inc. (NASDAQ:LCID) shares fell in after-hours trading following the announcement of CFO Sherry House's immediate resignation to pursue other opportunities. This news comes on the heels of Lucid being removed from the Nasdaq-100 Index, further impacting the stock negatively. Gagan Dhingra, VP of Accounting and PAO, will serve as interim CFO and PFO.

Portfolio Pulse from Ryan Gustafson

December 11, 2023 | 10:05 pm

TM

Toyota Motor Corp (TM) is limiting sales at its dealerships in Japan due to difficulties in keeping up with the robust demand for its vehicles. The company is facing challenges in maintaining a stable supply of cars, which has led to this decision. Toyota's move to restrict sales aims to prevent long delivery times and maintain customer satisfaction. The company has not provided details on which models or regions are affected, or how long the limitations will last.

Portfolio Pulse from Charles Gross

December 11, 2023 | 10:01 pm

HAS

MAT

Hasbro CEO Chris Cocks reported that the company is facing persistent and stronger-than-expected headwinds in toy sales, which continued through the holiday season and are likely to extend into 2024.

Portfolio Pulse from Charles Gross

December 11, 2023 | 9:58 pm