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DKNG

DraftKings Inc (NASDAQ:DKNG) is facing a class-action lawsuit for allegedly deceptive advertising related to its $1,000 bonus bet offer. The suit claims the terms were misleading, requiring a $5,000 deposit and $25,000 wager within 90 days to qualify. The bonus was also non-withdrawable credit. The Public Health Advocacy Institute, known for litigation against addictive product manufacturers, filed the suit, drawing attention to the risks of addiction in sports betting. DraftKings' stock value has tripled this year, and the lawsuit is supported by Richard Daynard, a legal expert who previously led actions against Big Tobacco.

Portfolio Pulse from Vandana Singh

December 08, 2023 | 12:31 pm

PEB

Wells Fargo analyst Dori Kesten has maintained an Equal-Weight rating on Pebblebrook Hotel Trust (NYSE:PEB) and increased the price target from $13 to $14.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 12:30 pm

HCP

HashiCorp Inc. (NASDAQ: HCP) exceeded Q3 earnings expectations with earnings of 3 cents per share against an expected loss of 4 cents, and revenue of $146.13 million against an estimate of $143.24 million. Full-year 2024 earnings are projected to be between losses of 14 to 12 cents per share, better than the estimated loss of 22 cents, with revenue expected between $576 million and $578 million, surpassing the $573.46 million estimate. Despite the positive results, HashiCorp shares dropped slightly by 0.1% to close at $24.90. Post-earnings, Needham reduced its price target from $36 to $27 but maintained a Buy rating, while TD Cowen lowered its price target from $28 to $23 and downgraded the stock from Outperform to Market Perform.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 12:28 pm

CEG

WAVE

The article highlights two oversold utilities stocks, Eco Wave Power Global AB (WAVE) and Constellation Energy Corporation (CEG), which could present buying opportunities in December. WAVE's RSI is at 19.30, with a slight revenue increase year-over-year and a recent 15% stock price decline. CEG's RSI is at 29.41, following a downgrade from Buy to Neutral by Seaport Global and an 8% stock price drop.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 12:21 pm

APDN

BEAM

CTAS

DECK

FSLR

LULU

TOL

VEEV

Wall Street analysts have updated their price targets and ratings for several companies. Citigroup raised Deckers Outdoor's target but downgraded the stock to Neutral. HC Wainwright cut Applied DNA Sciences' target but maintained a Buy rating. Jefferies downgraded Beam Therapeutics and lowered its target. Citigroup increased Dollar General's target while maintaining a Neutral rating. Morgan Stanley upgraded First Solar and raised its target. Barclays raised Lululemon's target and kept an Overweight rating. Keybanc lowered Veeva Systems' target but kept an Overweight rating. Raymond James increased Toll Brothers' target and maintained a Strong Buy rating. Deutsche Bank raised Cintas' target but downgraded the stock to Hold. Telsey Advisory cut RH's target and maintained a Market Perform rating.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 12:20 pm

RBLX

Roblox shares are trading higher in premarket following reports on social media that popular artist Nicki Minaj has joined the gaming platform. This news suggests a potential increase in user engagement and publicity for Roblox, which could positively influence investor sentiment and the company's stock price in the short term.

Portfolio Pulse from Charles Gross

December 08, 2023 | 12:19 pm

SHO

WFC

Wells Fargo analyst Dori Kesten downgraded Sunstone Hotel Investors (NYSE:SHO) from Equal-Weight to Underweight and set a price target of $9.5.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 12:10 pm

HCP

TD Cowen analyst Derrick Wood has downgraded HashiCorp (NASDAQ:HCP) from Outperform to Market Perform and reduced the price target from $28 to $23.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 12:08 pm

BMY

BOOM

BUSE

MTDR

Insiders at Bristol-Myers Squibb, Matador Resources, First Busey, and DMC Global have recently made notable stock purchases. Bristol-Myers Squibb's CEO acquired shares amid positive trial data for a cancer treatment. Matador Resources' CEO purchased shares following strong quarterly results. First Busey's Director bought shares after the company posted upbeat earnings. DMC Global's Director made purchases despite the company's downbeat third-quarter results. Insider buying can signal confidence in the company's prospects or undervaluation.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 12:05 pm

DRH

Wells Fargo analyst Dori Kesten downgraded Diamondrock Hospitality (DRH) from Overweight to Equal-Weight and set a price target of $9.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 12:04 pm