Wix.com (WIX) shares rose on Thursday as investment firm Oppenheimer upgraded the web development company, noting that the involvement of activist hedge fund Starboard is likely to be…
In October 2014, Starboard Value CEO and co-founder Jeffrey Smith made headlines for taking over Darden Restaurants (NYSE: DRI ) by clearing the board and making himself the chairman with an 8.8% stake in the company. His goal was to make its subsidiaries, Long Horn Steakhouse and Olive Garden , more profitable. As of early Tuesday, the activist investor disclosed a 9% stake in website building service Wix.com (NASDAQ: WIX ), which touts millions of registered users worldwide. Here are two dividend stocks Starboard Value holds for the … Full story available on Benzinga.com
NEW YORK , Sept. 20, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for BA, TSLA, XOM, WIX, and MCD. … Full story available on Benzinga.com
Gainers Ventoux CCM Acquisition Corp. (NASDAQ: VTAQ ) shares jumped 54.6% to settle at $7.05 on Monday. Purple Innovation, Inc. (NASDAQ: PRPL ) shares surged 39.4% to close at $3.89 after the company confirmed that it received an unsolicited, non-binding proposal from Coliseum Capital Management to acquire all of the outstanding capital stock of Purple for $4.35 per share. Troika Media Group, Inc. (NASDAQ: TRKA ) gained 33.3% to close at $0.4021. BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN ) rose 32.5% to close at $2.95 after the company announced it has signed a share purchase agreement to acquire 100% ownership of Zigi Carmel Initiatives & Investments for $28 million in stock. KnowBe4, Inc. (NASDAQ: KNBE ) gained 28.2% to close at $22.17 after the company confirmed it received a non-binding proposal from Vista Equity Partners Management to acquire all of the outstanding shares of the company for $24 per share. American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT ) gained 28.1% to close at $0.2370.
Reuters Volkswagen Eyes Juicy Valuations For Porsche IPO Volkswagen AG (OTC: VWAGY ) targeted a valuation of up to €75 billion ($75.1 billion) for luxury sportscar maker Porsche. Volkswagen will split shares equally into preferred and ordinary shares. Trading will begin on the Frankfurt Stock Exchange on September 29. The sovereign wealth funds of Qatar, Abu Dhabi, and Norway and mutual fund company T. Rowe Price will subscribe as cornerstone investors. Volkswagen will propose to pay 49% of the total proceeds to shareholders in early 2023 as a special dividend. Teva To Start Nationwide Settlement Of Opioid Lawsuits From Next Year Teva Pharmaceutical Industries Ltd''s (NYSE: TEVA ) CEO said the company will finalize the U.S. opioid settlement by the end of 2022 and start paying in 2023. CEO Kare Schultz also said he was unlikely to renew his contract next year. In its Q2 earnings release, Teva proposed a $4.35 billion settlement - mostly cash and partly medicines over 13 years - to resolve its opioid lawsuits.
Companies Reporting Before The Bell • Wix.com (NASDAQ: WIX ) is estimated to report earnings for its second quarter. • Xeris Biopharma Holdings (NASDAQ: XERS ) is expected to report earnings for its second quarter. • BiomX (AMEX: PHGE ) is likely to report earnings for its second quarter. • CSP (NASDAQ: CSPI ) is likely to report earnings for its third quarter. • Herbalife Nutrition (NYSE: HLF ) is projected to report quarterly earnings at $0.32 per share on revenue of $329.94 million. • Evaxion Biotech (NASDAQ: EVAX ) is likely to report earnings for its second quarter. • iShares Gold Trust Shares of the iShares Gold Trust (NYSE: IAU ) is likely to report earnings for its second quarter. • Innovid (NYSE: CTV ) is estimated to report quarterly loss at $0.03 per share on revenue of $33.33 million. • Vita Coco (NASDAQ: COCO ) is projected to report quarterly earnings at $0.08 per share on revenue of $115.02 million. • NextNav (NASDAQ: NN ) is likely to report quarterly loss at $0.10 per share on revenue of $1.
https://www.investing.com/news/stock-market-news/oppenheimer-cuts-wixcom-stock-to-perform-despite-extremely-compelling-valuation-432SI-2855427
Futures Jump After China Cuts Main Lending Rate By Most On Record But $1.9 Trillion Op-Ex Looms… After months of endless jawboning and almost no action, overnight China finally cut its main mortgage interest rate by the most on record since the rate was introduced in 2019, as it tries to reduce the economic impact of Covid lockdowns and a property sector slowdown. The five-year loan prime rate was lowered from 4.6% to 4.45% on Friday (even as the 1 Year LPR was unchanged at 3.70%) . The reduction in the rate, which is set by a committee of banks and published by the People’s Bank of China, will directly reduce the borrowing costs on outstanding mortgages across the country (the move wasn’t much of a shock as the central bank had kept the 1-Year MLF Rate unchanged earlier in the week and effectively cut interest rates for first-time homebuyers by 20bps on Sunday). The rate cut was long overdue for China''s property market which has experienced 8 straight months of home-price reductions with developers under extreme pressure.