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OCEA

Taglich Brothers has initiated coverage of Ocean Biomedical, Inc. (NASDAQ: OCEA), a biopharmaceutical company focused on commercializing innovative therapeutic assets from research universities and medical centers. Ocean Biomedical's initial programs include candidates for lung cancer, brain cancer, pulmonary fibrosis, and malaria prevention and treatment.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 1:38 pm

BOWL

Bowlero Corp (NYSE:BOWL) has agreed to acquire Lucky Strike Entertainment LLC for $90 million in an all-cash transaction. The acquisition will add 14 upscale bowling centers across nine states to Bowlero's portfolio, increasing its national footprint to 343 centers in 35 states.

Portfolio Pulse from Shivani Kumaresan

May 31, 2023 | 1:29 pm

VSAT

Viasat Inc has completed the acquisition of mobile satellite communications services provider Inmarsat for $551 million in cash and 46.36 million common shares. The cash portion was reduced from $850 million after Inmarsat paid a special dividend of $299 million in April 2022.

Portfolio Pulse from Lekha Gupta

May 31, 2023 | 1:22 pm

AMD

DE

MU

URBN

Insiders at AMD, Micron, Urban Outfitters, and Deere & Company have recently sold shares, signaling potential concerns about the companies' prospects or overpriced stocks. These sales could present an opportunity to go short on the stocks.

Portfolio Pulse from Lisa Levin

May 31, 2023 | 1:17 pm

COSM

Cosmos Health Inc. (NASDAQ:COSM) is set to join the Russell Microcap Index on June 26, 2023, following the annual reconstitution. This inclusion reflects the company's strong presence in the global healthcare industry and enhances its liquidity, visibility, and credibility with the investment community.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 1:17 pm

BRK-A

BRK-B

OXY

Berkshire Hathaway has increased its stake in Occidental Petroleum to 24.9% after purchasing about $275 million of stock recently. Despite the increased stake, Warren Buffett has denied reports of Berkshire taking control of Occidental.

Portfolio Pulse from Anusuya Lahiri

May 31, 2023 | 1:14 pm

VSTM

Verastem Oncology has announced a 1-for-12 reverse stock split, which will reduce the number of outstanding shares and increase the stock price proportionally.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 1:14 pm

FRO

Frontline Plc (FRO) reported a 128.7% YoY increase in Q1 FY23 operating revenue to $497.33 million, beating the consensus of $356.5 million. Adjusted EPS was $0.87, missing the consensus of $0.96. The company declared a dividend of $0.70 per share for Q1. FRO shares are trading lower by 6.80% premarket.

Portfolio Pulse from Akanksha Bakshi

May 31, 2023 | 1:13 pm

UVXY

The CBOE Volatility Index (VIX) printed a doji candlestick on Tuesday ahead of a key congressional vote on the debt ceiling deal. This could indicate a change in direction for the index, which is tracked by the ProShares Ultra VIX Short Term Futures ETF (UVXY). The VIX has resistance at 17.71 and 19.43, and support at 15.68 and 14.10.

Portfolio Pulse from Melanie Schaffer

May 31, 2023 | 1:12 pm

AAP

LL

SPWH

In Wednesday's pre-market session, 12 consumer discretionary stocks experienced significant price movements. Gainers included LL Flooring Holdings, Kaival Brands Innovations, Jianzhi Education Tech, China Liberal Education, Faraday Future, and Unique Fabricating. Losers were Advance Auto Parts, Tupperware Brands, O'Reilly Automotive, Conn's, Sportsman's Warehouse, and F45 Training Holdings.

Portfolio Pulse from Benzinga Insights

May 31, 2023 | 1:09 pm