Latest Stories
Why Harley-Davidson (HOG) Shares Are Falling Today
Shares of american motorcycle manufacturing company Harley-Davidson (NYSE:HOG) fell 3% in the afternoon session after reports pointed to a significant slump in motorcycle sales and the company announced the departure of two key executives.
Why Blink Charging (BLNK) Stock Is Nosediving
Shares of EV charging infrastructure provider Blink Charging (NASDAQ:BLNK) fell 7.5% in the afternoon session after the company filed to sell 14.81 million shares of its common stock, raising concerns about potential dilution for existing shareholders.
ITT (ITT) Stock Trades Down, Here Is Why
Shares of engineered components manufacturer for critical industries ITT Inc. (NYSE: ITT) fell 6.3% in the afternoon session after the company announced it commenced an underwritten public offering of 7 million shares of its common stock. The company stated the proceeds from this offering were intended to help fund its previously announced acquisition of SPX FLOW for a total of $4.775 billion. Stock offerings often cause a company's share price to drop because the issuance of new shares can dilute the ownership percentage of existing shareholders. In addition to the initial shares, ITT also expected to grant the underwriters a 30-day option to purchase up to 1,050,000 additional shares of its common stock.