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OSG

Overseas Shipholding Group, Inc (NYSE:OSG) has agreed to acquire 3.78 million common shares from entities managed by Cyrus Capital Partners, L.P. at $4.05 per share, amounting to a total of ~$15.34 million. The purchase will be funded using OSG's existing cash reserves. This is separate from the previously disclosed initiative to buy back OSG common stock worth up to $20 million.

Portfolio Pulse from Akanksha Bakshi

August 28, 2023 | 2:23 pm

AAPL

AMZN

BTCUSD

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

The article discusses the current state of the stock market, highlighting the impact of Nvidia's earnings and the narrative of zero recession probability. It also mentions the Chinese government's efforts to prop up its stock market and the positive early trade money flows in several major US companies. The article suggests that the stock market is priced for no landing and zero percent probability of a recession, which may not align with the actual probabilities.

Portfolio Pulse from The Arora Report

August 28, 2023 | 2:16 pm

ADI

Analog Devices (NYSE:ADI) has seen a decrease in its short percent of float by 6.31% since its last report, with 5.18 million shares sold short, representing 1.04% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards the stock. However, it does not necessarily mean that the stock price will rise in the near term. Compared to its peers, Analog Devices has less short interest as a percentage of float, with an average of 3.66%.

Portfolio Pulse from Benzinga Insights

August 28, 2023 | 2:15 pm

TEAM

Atlassian's (NYSE:TEAM) short percent of float has fallen 21.99% since its last report, with 3.59 million shares sold short, which is 2.66% of all regular shares available for trading. It would take traders 1.82 days to cover their short positions on average. Atlassian's peer group average for short interest as a percentage of float is 3.21%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

August 28, 2023 | 2:15 pm

PPG

PPG Industries' short percent of float has risen 16.67% since its last report, with 1.66 million shares sold short, representing 0.7% of all regular shares available for trading. This increase in short interest could indicate a bearish market sentiment towards PPG. However, compared to its peers, PPG has less short interest as the average for its peer group is 3.63%.

Portfolio Pulse from Benzinga Insights

August 28, 2023 | 2:15 pm

ETNB

UBS has initiated coverage on 89bio with a Buy rating and a price target of $36. This has led to an increase in the trading of 89bio shares.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 2:09 pm

VHNA

Shares of Vahanna Tech Edge Acquisition I Corp. have resumed trading.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 2:08 pm

BrightView Holdings announced it received a $500 million strategic investment in convertible preferred stock from an affiliate of One Rock Capital Partners. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 2:08 pm

Mastercard Incorporated (NYSE:MA) has entered a memorandum of understanding with the UAE's Artificial Intelligence, Digital Economy, and Remote Work Applications Office. The partnership aims to increase artificial intelligence capabilities in the region and supports the National Artificial Intelligence Strategy 2031. Mastercard's shares are trading higher by 0.57% to $405.10.

Portfolio Pulse from Nabaparna Bhattacharya

August 28, 2023 | 2:07 pm

AGIL

BEEP

FFIE

GDC

KIM

NVCR

RPT

US stocks opened higher with the Dow Jones gaining over 250 points. Kimco Realty Corp (KIM) is set to acquire RPT Realty (RPT) in an all-stock transaction for around $2 billion. Mobile Infrastructure Corporation (BEEP) shares shot up 76%, GD Culture Group Limited (GDC) shares rose 59% after announcing the launch of a live-streaming e-commerce business on TikTok. Hersha Hospitality Trust (HT) shares were up 57% after announcing a merger with KSL Capital Partners. AgileThought (AGIL) shares dropped 37% after being downgraded from Buy to Sell. NovoCure Limited (NVCR) shares were down 32% after its Phase 3 trial did not meet its primary endpoint. Faraday Future Intelligent Electric Inc. (FFIE) fell 20% after announcing a 1-for-80 reverse stock split.

Portfolio Pulse from Lisa Levin

August 28, 2023 | 2:06 pm