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EPM

Evolution Petroleum Corporation (NYSE:EPM) has announced the acquisition of non-operated oil and gas assets in Oklahoma from Red Sky Resources and Coriolis Energy Partners for $43.5 million. The assets include approximately 1,550 BOEPD production, 230 producing wells, and 3,700 net acres with over 300 undeveloped locations. The acquisition is expected to be highly accretive to key valuation metrics and self-funding, generating incremental cash flow to support the company's dividend. The transaction will be funded with cash and borrowings from EPM's credit facility, with net debt remaining within targeted leverage post-transaction.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:24 pm

BTCUSD

Bitcoin shares experienced a sharp decline following a tweet allegedly from the SEC regarding a Bitcoin ETF. However, Benzinga has not been able to confirm the authenticity of the tweet, as there is no corresponding release on the SEC's official website.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:22 pm

FRLA

OTHER

Fortune Rise Acquisition Corporation (NASDAQ:FRLA) has appointed Ryan Spick as the new Principal Executive Officer and Chief Financial Officer. Spick, who has a background in real estate projects, will lead the proposed business combination with Water on Demand, Inc., a subsidiary of OriginClear, Inc. (OTC:OTHER). Spick replaces Richard Brand, who is leaving for other projects, and Beau Vuillemot has taken Spick's place on the FRLA Board.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:20 pm

ETWO

E2open Parent Holdings (NYSE:ETWO) reported Q3 earnings with an EPS of $0.04, meeting estimates but with revenue down $8.50 million year-over-year. Last quarter's EPS miss led to a significant stock price drop.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 9:20 pm

MESA

Mesa Air Group has received a notice from Nasdaq regarding non-compliance with a Listing Rule. The company has until October 16, 2023, to submit a plan to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:17 pm

TRNO

Terreno Realty Corporation (TRNO) reported a quarter-end occupancy of 98.5%, a slight increase from the previous quarter and a minor decrease from the previous year. The company saw a 47.5% increase in cash rents on new and renewed leases for the quarter and a 55.5% increase for the full year. Terreno acquired properties worth $73.2 million in Q4 and $484.0 million for the full year, while selling three properties for $51.6 million in Q4 and four properties for $77.0 million for the full year. The company commenced developments with a total expected investment of $283.2 million and issued over 10.9 million shares of common stock in 2023 for gross proceeds of $674.4 million. John Meyer was promoted to Chief Operating Officer, effective January 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:16 pm

SAR

Saratoga Investment (NYSE:SAR) reported Q3 earnings with an EPS of $1.01, missing the estimate by 1.94%. Revenue increased by $10.08 million compared to the same period last year. Despite this growth, the earnings miss may concern investors, especially considering the company's stock price dropped 2.15% following an EPS miss last quarter.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 9:15 pm

BTCUSD

The SEC has approved Bitcoin ETFs for listing on all registered national securities exchanges, subject to ongoing surveillance and compliance measures for investor protection.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:14 pm

ISRG

Intuitive Surgical, Inc. reported preliminary financial results for FY23, with an estimated revenue of approximately $7.12 billion, surpassing the $7.07 billion estimate. The company's fourth quarter revenue for 2023 was about $1.93 billion, a 17% increase from $1.66 billion in the same quarter of the previous year. Overall, the 2023 revenue represents a 14% rise from the $6.22 billion reported in 2022.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:13 pm

PKE

Park Aerospace (NYSE:PKE) reported a decrease in Q3 adjusted earnings to $0.06 per share from $0.12 YoY, with sales falling to $11.64M from $13.87M YoY, indicating a 50% drop in earnings and a 16.07% drop in sales.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:12 pm