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STZ

Cannabis use among ages 21-29 has increased by 55% since 2010, while alcohol use has decreased by 11%. Aaron Grey of Alliance Global Partners sees this as a multi-decade growth opportunity for the cannabis industry, predicting a $100 billion market potential upon full legalization. Major companies like Altria and Constellation Brands are exploring opportunities in the cannabis sector, with investments in Cronos Group and Canopy Growth Corp respectively.

Portfolio Pulse from Javier Hasse

August 15, 2023 | 1:55 pm

SLB

Investor Business Daily SwingTrader has exited its entire position in Schlumberger N.V. at $58.19.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 1:52 pm

PI

Impinj, Inc.'s Director Daniel Patrick Gibson has purchased 263,740 shares at an average price of $58.26 per share, according to a Form 4 filing with the SEC.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 1:50 pm

CAH

Cardinal Health Inc reported Q4 FY23 adjusted EPS of $1.55, up 48% Y/Y, beating the consensus of $1.48. Sales increased 13% to $53.45 billion, beating the consensus of $52.41 billion. The company raised its FY24 adjusted EPS guidance to $6.50-$6.75 from prior guidance of $6.45-$6.70. In June, Cardinal Health inked a pact to contribute its Outcomes business to Transaction Data Systems, a portfolio company of BlackRock Long Term Private Capital and GTCR, in exchange for a minority stake in the combined entity.

Portfolio Pulse from Vandana Singh

August 15, 2023 | 1:41 pm

SPY

WFC

Wells Fargo Investment Institute has raised its forecast for U.S. GDP growth from 1.1% to 2.2%, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 1:27 pm

TGL

Treasure Global Inc (NASDAQ:TGL) has announced its plans to form an e-commerce venture in Indonesia, PT Harmoni Bagi Dunia (HBD), in partnership with industry pioneers Ariadi Anaya and Budihardjo Iduansjah. TGL will hold a 70% stake in HBD and grant it exclusive rights to promote and operate its proprietary app, ZCITY, in Indonesia. This venture will provide TGL with access to a network of 200,000 merchants and data of 5 million users in Indonesia, marking the company's expansion into the Indonesian market.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 1:22 pm

PHX

PHX Minerals' board of directors has unanimously rejected an unsolicited proposal from WhiteHawk Income Corporation. The board deemed the proposal as grossly inadequate in terms of value offered to PHX and its stockholders, overstating the value of WhiteHawk's assets, and highly dilutive to PHX stockholders.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 1:19 pm

IHS

IHS Holding Ltd's shares are down by around 5% after the company reported mixed Q2 FY23 results and lowered its FY23 guidance. Despite a revenue increase of 16.8% Y/Y to $546.2 million, the company's EPS loss of $(3.73) missed the consensus of $0.18. The company's board authorized a share repurchase program for up to $50 million. The company lowered its FY23 sales outlook due to foreign exchange headwinds.

Portfolio Pulse from Lekha Gupta

August 15, 2023 | 1:14 pm

NIO

TSLA

NIO Inc's shares are trading lower due to selling pressure after Tesla Inc lowered its prices in China and weak economic data from China. Tesla's price cut is forcing competing EV makers to stay competitive on cost. China's economic weakness is evident in slower growth in retail sales, industrial output, and broader investments. NIO's Hardware vice president announced that some of the company's key self-developed chips will be mass produced in the next one to two years.

Portfolio Pulse from Adam Eckert

August 15, 2023 | 1:08 pm

GNL

RTL

Orange Capital plans to vote against the merger of Global Net Lease (GNL) and Retail REIT (RTL), citing concerns over dilution of GNL's high-quality portfolio, inferior business quality of RTL, substantial dilutive stock issuance, high internalization costs, and limited strategic alternatives post-merger. Orange Capital suggests alternatives such as a stand-alone internalization of GNL, a potential sale of GNL to a third party, or continuation of the current status quo.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 1:05 pm