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OSG

Overseas Shipholding Group (NYSE:OSG) has entered into a definitive agreement to be acquired by Saltchuk Resources for $8.50 per share, valuing the transaction at $950 million. The purchase price represents significant premiums over recent trading prices.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:32 am

AAPL

CMCSA

GME

GOOG

GOOGL

META

MSFT

RUM

SONY

TTWO

The past week in consumer tech saw significant developments including Chinese chipmakers advancing in HBM semiconductors, Meta's CEO celebrating his birthday on a new superyacht, Google's AR glasses prototype, and Comcast's new streaming bundle. Other highlights include Apple's new accessibility features, Sony's PS5 shipment decline, and OpenAI's GPT-4o launch.

Portfolio Pulse from Lekha Gupta

May 20, 2024 | 11:31 am

DYN

Dyne Therapeutics shares are higher following the announcement of positive clinical data from its ongoing Phase 1/2 ACHIEVE trial of DYNE-101 for myotonic dystrophy type 1 and Phase 1/2 DELIVER trial of DYNE-251 for Duchenne muscular dystrophy.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:29 am

AAPL

AMZN

DIS

SBUX

VOX

Disneyland cast members voted to unionize with the Actors’ Equity Association, potentially impacting Walt Disney Co's operational costs and investor outlook. This trend reflects broader unionization efforts in the U.S., including companies like Apple, Starbucks, and Amazon.

Portfolio Pulse from Anusuya Lahiri

May 20, 2024 | 11:28 am

GLBE

Global-E Online shares are trading higher after the company reported better-than-expected Q1 sales results and raised its FY24 revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:27 am

FTLS

SMOG

Li Auto Inc (NASDAQ:LI) reported Q1 2024 revenue growth of 36.4% YoY to $3.55 billion, missing the analyst consensus estimate of $3.84 billion. Adjusted net earnings per ADS were $0.17, below the expected $0.35. Despite a 32.3% increase in vehicle sales, the stock price dropped. The company sees Q2 2024 revenue of $4.1 billion – $4.3 billion and expects vehicle deliveries of 105,000 – 110,000. Li Auto stock lost over 15% in the last 12 months. Investors can gain exposure via VanEck Low Carbon Energy ETF (NYSE:SMOG) and First Trust Long/Short Equity (NYSE:FTLS).

Portfolio Pulse from Anusuya Lahiri

May 20, 2024 | 11:23 am

AIXI

Xiao-I Corporation (NASDAQ:AIXI) has launched a new product called Hearview, AI-empowered glasses designed to assist deaf people by allowing them to 'see the sounds of the world.' This product is part of a broader series aimed at enhancing the daily lives of the deaf and hard-of-hearing community.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:21 am

EQBK

NWBI

SRE

Insiders have recently purchased shares in Sempra, Equity Bancshares, and Northwest Bancshares, indicating confidence in these companies' prospects. Notable trades include Sempra's Director acquiring 1,925 shares, Equity Bancshares' Director acquiring 2,903 shares, and Northwest Bancshares' Director acquiring 10,000 shares.

Portfolio Pulse from Avi Kapoor

May 20, 2024 | 11:10 am

MESA

Mesa Air Group (NASDAQ:MESA) reported Q1 2024 adjusted EPS of $(0.53), missing the $(0.32) estimate by 65.63%. Sales were $118.777M, missing the $126.000M estimate by 5.73% and down 19.29% from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:10 am

IBTX

SSB

SouthState has agreed to acquire Independent Bank Group in an all-stock transaction valued at approximately $2 billion. Independent Bank Group shareholders will receive 0.60 shares of SouthState common stock for each share of Independent Bank Group common stock. The transaction is based on SouthState's closing stock price of $80.85 as of May 17, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:08 am