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GRNT

Granite Ridge Resources, Inc. (NYSE:GRNT) has announced the launch of a secondary public offering of 7.1 million shares by Grey Rock Energy Management, LLC. The underwriters have a 30-day option to purchase up to an additional 1,065,000 shares. Granite Ridge will not sell any common stock in the offering and will not receive any proceeds from the sale.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 10:57 am

SJM

TWNK

J.M. Smucker Co (SJM) is reportedly close to acquiring Hostess Brands (TWNK) for approximately $4 billion. Hostess, which has been expanding its product range and reported a revenue of $1.358 billion in 2022, returned to public markets in 2016. SJM, which has been expanding its portfolio through acquisitions, reported a 21% increase in net sales and a 69% increase in operating income.

Portfolio Pulse from Shivani Kumaresan

September 11, 2023 | 10:56 am

AAPL

CASY

FCEL

ORCL

QQQ

SPY

TSLA

The S&P 500 and Nasdaq are expected to rebound due to strength in Tesla and Apple. However, a possible UAW strike and caution ahead of August inflation data could temper sentiment. Oracle's earnings, treasury yields, and oil prices will be in focus. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained in premarket trading. Tesla and Apple stocks also rallied in premarket trading. FuelCell Energy and Oracle are due to report their quarterly results.

Portfolio Pulse from Shanthi Rexaline

September 11, 2023 | 10:44 am

BHRB

MLYS

THS

Insider trades were noted in TreeHouse Foods, Inc. (NYSE:THS), Burke & Herbert Financial Services Corp. (NASDAQ:BHRB), and Mineralys Therapeutics, Inc. (NASDAQ:MLYS). Jana Partners LLC, a director at TreeHouse Foods, acquired 112,275 shares at an average price of $44.53, costing around $5 million. Mark G. Anderson, a director at Burke & Herbert Financial Services, acquired 2,400 shares at an average price of $50.00, costing around $120,000. Jon Congleton, CEO of Mineralys Therapeutics, bought 2,250 shares at an average price of $12.08, costing around $27,180.

Portfolio Pulse from Lisa Levin

September 11, 2023 | 10:38 am

OVV

Ovintiv Inc. announced that NMB Stock Trust intends to sell 15 million shares of the company's common stock. The sale will be conducted under the company's shelf registration statement previously filed with the Securities and Exchange Commission.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 10:34 am

LLAP

Terran Orbital (NYSE:LLAP) has officially opened a new 60,000-square-foot satellite manufacturing space in Irvine, CA. This addition expands the total size of the manufacturing complex to approximately 98,000 square feet.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 10:31 am

Cigna officials have stated that they expect to reaffirm their projected FY23 consolidated adjusted EPS from operations outlook of at least $24.70, slightly below the estimated $24.81.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 10:25 am

CBAY

CymaBay Therapeutics has started an underwritten public offering of an aggregate of $150M of its common stock and pre-funded warrants.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 10:06 am

MTAL

Metals Acquisition Limited (MAC) has reported its operational update, including drill results and production figures for July and August 2023. The company produced 7,294 tonnes of copper in the first two months of its ownership. The drilling results included 50.4m @ 8.9% Cu and 36 g/t Ag from 170.6m in UDD20134. The company also reported that drilling at the shallow QTS South Upper mineralisation has been accelerated.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 10:04 am

NIO

Chinese EV manufacturer Nio Inc (NYSE:NIO) is set to unveil its new EC6 SUV online on Sept. 15. The company's CEO, William Li, stated that while EC6 deliveries will commence in September, it will take some time for production and delivery to scale up. Nio delivered 19,329 vehicles in the previous month, marking an 81% YoY increase. For Q3, the company anticipates delivering between 55,000 and 57,000 units, reflecting a robust 74% to 80.3% YoY growth. Nio also projects Q3 revenue of $2.61 billion to $2.69 billion, a 45% to 50% YoY expansion.

Portfolio Pulse from Anan Ashraf

September 11, 2023 | 9:53 am