Streetbeat News

Stock Prices

CISS

C3IS has announced a 1-for-100 reverse stock split, a move typically aimed at increasing the market price of a company's shares. This action can often be seen as an attempt to comply with stock exchange listing requirements or to attract a different class of investors.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:51 pm

PSCC

PSMT

XRT

PriceSmart, Inc. (NASDAQ:PSMT) reported strong Q2 FY24 results with a 13.1% Y/Y revenue increase to $1.29 billion, surpassing consensus estimates. Net merchandise sales rose 13.0% Y/Y to $1.26 billion. The company also announced a $1.00 per share special dividend payable on April 30, 2024. Investors can also gain exposure to PSMT through Invesco S&P SmallCap Consumer Staples ETF (NASDAQ:PSCC) and SPDR S&P Retail ETF (NYSE:XRT). PSMT shares are up 1.97% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 10, 2024 | 12:48 pm

CBSTF

The Cannabist Company Holdings Inc. (CBSTF) is expanding its partnership with Revelry Herb Co. to include Maryland, Ohio, Pennsylvania, and New York, building on their success in New Jersey and Massachusetts. This collaboration involves supplying curated cannabis strains and branded gear. The expansion aims to leverage positive customer feedback and successful market penetration in the initial states. The Cannabist Company's stock experienced a slight decline after the market close on Tuesday.

Portfolio Pulse from Jelena Martinovic

April 10, 2024 | 12:47 pm

IYG

XLF

Mastercard Inc (NYSE:MA) announced a strategic realignment focusing on Core Payments, Commercial and new Payment Flows, and Services to accelerate growth and enhance stakeholder value. Leadership changes are effective immediately, with organizational changes starting May 1. The realignment aims to strengthen Mastercard's competitive edge, diversify revenue sources, and improve product offerings. Key appointments include Jorn Lambert as Chief Product Officer, Raj Seshadri as Chief Commercial Payments Officer, and Craig Vosburg as Chief Services Officer. Additionally, Mastercard plans to raise certain credit card fees starting April 15, following a $30 billion swipe fee settlement with Visa Inc (NYSE:V). Mastercard's stock has gained over 31% in the last 12 months, and investors can gain exposure through SPDR Select Sector Fund – Financial (NYSE:XLF) and IShares U.S. Financial Services ETF (NYSE:IYG).

Portfolio Pulse from Anusuya Lahiri

April 10, 2024 | 12:45 pm

FHN

First Horizon Corp (NYSE:FHN) has been upgraded by RBC Capital Markets from Sector Perform to Outperform with a price target increase from $16 to $18, due to a favorable 2024 outlook, strong net interest margin expansion, and potential for aggressive capital return including a large buyback authorization. Shares rose by 0.59% to $15.24.

Portfolio Pulse from Priya Nigam

April 10, 2024 | 12:42 pm

Arkhouse announced a statement regarding its settlement with Macy's, highlighting the appointment of Ric Clark and Rick Markee to Macy's Board. These appointments are part of efforts to maximize shareholder value, with Arkhouse's buyer group beginning due diligence for a potential acquisition of Macy's. The involvement of Clark and Markee, especially in the Finance Committee, is aimed at ensuring constructive discussions and serious consideration of Arkhouse's proposal.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:40 pm

FEPI

FTXL

PSI

QCOM

SOXQ

Micron Technology, Inc. (MU) and Qualcomm Incorporated (QCOM) have partnered to integrate Micron's automotive-grade memory and storage solutions into Qualcomm's Snapdragon Digital Chassis for AI-powered intelligent vehicle development. This collaboration aims to enhance the performance and safety of next-generation vehicles. MU stock has seen a 93% increase over the past year, while QCOM stock has gained over 41%. Investors can also gain exposure to these stocks through ETFs like FEPI, FTXL, SOXQ, and PSI.

Portfolio Pulse from Nabaparna Bhattacharya

April 10, 2024 | 12:38 pm

SOUN

SoundHound AI Inc (NASDAQ:SOUN) shares dropped after announcing a potential offering of up to $150 million of its common stock. The offering is part of an at-the-market equity program managed by several firms, including Citigroup and Barclays, with a 2.5% commission rate. The company does not pay dividends but engages in capital allocation programs.

Portfolio Pulse from Adam Eckert

April 10, 2024 | 12:36 pm

OST

Ostin Technology Group Co., Ltd. (NASDAQ:OST), a leading supplier of display modules and polarizers, announced the commencement of operations of its US subsidiary, Pintura.Life LLC, in San Francisco. This move is part of its strategy to expand into the North American market with its Pintura products. The company launched a crowdfunding campaign on Indiegogo for Pintura, aiming to introduce it to a broader U.S. and North American audience. The San Francisco presence is seen as a strategic step to leverage local talent and market opportunities in North America.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:35 pm

FLGC

RCG

TGEN

Insiders at Tecogen, Flora Growth, and RENN Fund have recently made significant purchases of their companies' stocks, indicating potential confidence in their respective companies' futures. Tecogen's Director acquired shares at a low price following a reported net loss, while Flora Growth's CEO made a $1M purchase amid a new public offering. RENN Fund's CEO bought shares after a 6-month 8% decline in stock price.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 12:35 pm