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BABA

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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

GRRR

Gorilla Technology Group Inc. (NASDAQ:GRRR) has announced a registered direct offering of 25,000 Series A convertible preference shares at $1,000 per share, resulting in gross proceeds of approximately $25 million. The shares are convertible into ordinary shares at a conversion price of $1.25 per share. The company also agreed to issue Series A warrants to purchase up to 20,000,000 ordinary shares at an exercise price of $1.50. The offering is expected to close on September 22, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:06 pm

GIS

General Mills Inc reported Q1 FY24 sales growth of 4% YoY to $4.90 billion, beating the analyst consensus of $4.88 billion. Organic net sales increased 4%, driven by positive organic net price realization and mix. Adjusted EPS of $1.09 topped the consensus of $1.08. The company reaffirmed FY24 organic sales growth outlook of 3% - 4% and expects adjusted EPS to grow 4% - 6% in constant currency.

Portfolio Pulse from Shivani Kumaresan

September 20, 2023 | 12:05 pm

CBAT

CBAK Energy Technology, a lithium-ion battery manufacturer, has secured an order worth RMB 33.58 million from Anker Innovations for portable power supply batteries. The company expects subsequent orders from Anker Innovations, a global leader in charging technology.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:02 pm

SKIN

BeautyHealth has announced plans to initiate a stock repurchase program, following a recent authorization to repurchase $100M worth of shares.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:01 pm

SMAR

Analysts have provided various ratings for Smartsheet (NYSE:SMAR) within the last quarter, with 3 bullish, 3 somewhat bullish, and 2 indifferent. The average 12-month price target for Smartsheet has increased by 6.44% from the previous average price target of $50.50 to $53.75.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 12:01 pm

VTR

In the last quarter, Ventas (NYSE:VTR) received various analyst ratings, with 2 being bullish, 3 somewhat bullish, and 4 indifferent. Over the past 3 months, 9 analysts have offered 12-month price targets for Ventas, with an average price target of $50.67, a decrease of 0.65% from the previous average price target of $51.00.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 12:01 pm

SBUX

In the last quarter, Starbucks (NASDAQ:SBUX) received 1 bullish, 3 somewhat bullish, and 10 indifferent ratings from analysts. The company's average 12-month price target is $113.64, representing a 1.34% decrease from the previous average price target of $115.18.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 12:01 pm

DPZ

In the last quarter, 36 analysts have given ratings on Domino's Pizza (NYSE:DPZ). The average price target is $404.25, indicating an upside from the current price of $382.83. The average price target has increased by 8.87% over the past month.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 12:00 pm