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Stock Prices

UPWK

BTIG analyst Marvin Fong has downgraded Upwork (NASDAQ:UPWK) from Buy to Neutral.

Portfolio Pulse from richadhand@benzinga.com

August 28, 2023 | 11:30 am

FSR

Fisker Inc (NYSE:FSR) has expanded into three new European markets - Belgium, the Netherlands, and Switzerland. The company plans to establish retail locations and service centers in these regions, with deliveries starting by the end of September. Fisker also released information on the Fisker Alaska pickup truck, which will be built in the U.S. and has an estimated base price of $45,400. The company reported Q2 FY23 sales of $825,000, missing the analyst consensus of $20.40 million, but beating the EPS loss estimate.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 11:28 am

BABA

BIDU

HZNP

QQQ

SPY

XPEV

US stocks are expected to open firmer in the new week's first session. Major averages had a mixed close in the week ended Aug. 25, with the Nasdaq Composite and the S&P 500 indices making gains, while the Dow Industrials Average and the Russell 3,000 Index posted declines. The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.17% to $440.73, and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.33% to $365.23 in premarket trading. Stocks of Hawaiian Electric Industries, Inc. (NYSE:HE), Horizon Therapeutics Public Limited Company (NASDAQ:HZNP), Alibaba Group Holding Limited (NYSE:BABA), Baidu, Inc. (NASDAQ:BIDU), and XPeng, Inc. (NYSE:XPEV) are in focus.

Portfolio Pulse from Shanthi Rexaline

August 28, 2023 | 11:22 am

BETR

Better Home & Finance (NASDAQ:BETR) reported H1 sales of $51.10 million, with a net loss of $135.4 million.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 11:21 am

XPRO

Expro has agreed to acquire offshore services provider PRT Offshore for a total consideration of $106 million, to be paid at closing. The payment includes $62 million in cash and $44 million in newly issued Expro shares. Additional consideration may be based on PRT Offshore's financial performance in the year following the closing.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 11:16 am

AAPL

INTC

Apple Inc.'s 13-inch MacBook Air, powered by Intel Corporation's Core processor, is now available at a discount of $560 on Woot, bringing the price down to less than $1,000. This is one of the best prices recently for MacBooks powered by Intel processors.

Portfolio Pulse from Rounak Jain

August 28, 2023 | 11:13 am

MRVL

MUR

NVDA

WOOF

Five top Wall Street analysts have made new stock picks. Leo Mariani from Keybanc sees a 19% upside in Murphy Oil Corporation (MUR), Zachary Fadem from Wells Fargo sees a 29% upside in Petco Health and Wellness Company (WOOF), Chris Caso from Wolfe Research sees a 37% upside in NVIDIA Corporation (NVDA), William Power from Baird sees a 33% upside in Zoom Video Communications (ZM), and Craig Ellis from B. Riley Securities sees a 44% upside in Marvell Technology (MRVL).

Portfolio Pulse from Lisa Levin

August 28, 2023 | 11:09 am

KIM

RPT

Kimco Realty is set to acquire RPT Realty in an all-stock transaction. The deal is expected to create a combined company with a pro forma equity market capitalization of approximately $12 billion.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 10:56 am

EGRNF

China Evergrande Group (OTC:EGRNF) has extended the creditors' voting record time related to its offshore debt restructuring plan. The company lost around 80% of its market value, equivalent to $2 billion, after shares resumed trading on August 28. Evergrande seeks approval from over 75% of the holders of each debt class to support the plan, which offers creditors options to swap debt for new bonds and equity-linked instruments. The company has been in crisis with debt defaults, unfinished homes, and unpaid suppliers. Evergrande reported an H1 FY23 net loss of RMB(33.0) billion ($4.53 billion), which narrowed from RMB(66.4) billion a year ago on higher revenues.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 10:52 am

BBIO

BridgeBio Pharma has presented detailed results from its Phase 3 ATTRibute-CM study of acoramidis in transthyretin amyloid cardiomyopathy at the European Society of Cardiology Congress 2023. The company's shares are trading higher following the announcement.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 10:47 am