Streetbeat News

Stock Prices

EBC

Eastern Bankshares has announced its plans to sell the insurance operations of Eastern Insurance Group and merge with Cambridge Bancorp. This has led to a decrease in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:37 pm

EXAI

PINS

SPRY

Exscientia announced a drug discovery collaboration with Merck KGaA, leading to a 36% increase in its stock. The FDA issued a complete response letter for ARS Pharma's neffy® Epinephrine Nasal Spray, causing a 66% drop in SPRY's stock. Pinterest's stock rose by 4.3% after announcing a $1 billion stock repurchase program and an upgrade from Citigroup.

Portfolio Pulse from ryanfaloona@benzinga.com

September 20, 2023 | 12:34 pm

WDC

Western Digital's stock has been upgraded from Neutral to Outperform by Exane BNP Paribas, which also set a new price target of $58. This has resulted in a rise in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:34 pm

MCO

Moody's Corporation has unveiled the Vietnam Investors Service And Credit Rating Agency Joint Stock Company (VIS Rating), in partnership with Vietnamese financial institutions. The Vietnam Ministry of Finance issued a credit rating agency license to VIS Rating. The agency will provide credit rating services to domestic corporate issuers in Vietnam. Moody's shares closed lower by 0.79% to $340.69 on Tuesday.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2023 | 12:33 pm

PINS

Pinterest has announced a stock repurchase program of up to $1 billion Class A common stock. Citigroup has upgraded the stock from Neutral to Buy and raised its price target from $31 to $36.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:32 pm

KKR

Goldman Sachs is reportedly in advanced talks to sell its specialty lender, GreenSky, to a consortium of investment firms including Sixth Street, Pacific Investment Management, and KKR & Co Inc. The deal is expected to be worth $500 million, significantly less than the $1.7 billion Goldman paid for the business a year and a half ago. This comes after Goldman's consumer-lending business, including GreenSky, lost about $4 billion since 2020.

Portfolio Pulse from Shivani Kumaresan

September 20, 2023 | 12:25 pm

BLNK

The correct ticker for Blink Charging is 'BLNK'.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:22 pm

AVGR

BRDS

ELUT

EXAI

FRTX

SPRY

Shares of several companies including TransCode Therapeutics, Fresh Tracks Therapeutics, EBET, Exscientia, Histogen, Rail Vision, Avinger, Inhibikase Therapeutics, Microbot Medical, and Cheche Group are trading higher in pre-market. Fresh Tracks Therapeutics and Histogen announced plans of liquidation and dissolution. Exscientia and Merck announced collaboration on AI-driven drug discovery. Avinger announced the commercial launch of its Tigereye ST image-guided CTO crossing device. On the other hand, shares of ARS Pharmaceuticals, Connexa Sports Technologies, Bird Global, TD Holdings, AgileThought, Elutia, Digital Transformation Opportunities Corp., Cybin, and Revance Therapeutics are trading lower. ARS Pharmaceuticals received a Complete Response Letter from the FDA for its neffy® Epinephrine nasal spray. Bird Global announced its purchase of micromobility operator Skinny Labs for $19 million. Elutia announced a $26 million private placement of shares.

Portfolio Pulse from Lisa Levin

September 20, 2023 | 12:19 pm

BABA

FXI

INTC

KWEB

Alibaba Group Holding Limited (BABA) stock is trading lower in line with broader indexes. Alibaba Pictures Group is looking to acquire a majority stake in Pony Media Holdings, which owns Damai, a significant producer of live performances in China. The $167 million deal aims to expand Damai's presence in the live entertainment industry. Alibaba Pictures will issue approximately 2.5 million shares to Alibaba Investment Limited to fund the purchase. This move will increase Alibaba Group Holding's stake in Alibaba Pictures to about 54.26%. Freshippo, the high-tech supermarket chain, is rapidly expanding its presence in China. It plans to open 30 stores nationwide in September. Alibaba is using Intel Corp's (INTC) newest central processors to serve up chatbot technology.

Portfolio Pulse from Anusuya Lahiri

September 20, 2023 | 12:14 pm

AAPL

AMZN

GOOG

During a federal antitrust trial, Google's VP for advertising products, Jerry Dischler, expressed concerns about Google's decreasing market share in the advertising industry. He highlighted the increasing competition from companies like Amazon and TikTok. The trial also discussed Google's control over ad pricing and changes in auction dynamics. The outcome of this trial could reshape the digital advertising industry.

Portfolio Pulse from Anusuya Lahiri

September 20, 2023 | 12:06 pm