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Stock Prices

WAL

Shares of Western Alliance Bancorporation (NYSE:WAL) are trading lower by 2.73% after S&P Global Ratings downgraded several regional banks. This could signal challenges within the broader regional banking sector, suggesting a trend of financial instability or economic uncertainty. The Federal Reserve’s tight grip on monetary policy is straining the funding, liquidity, and revenue of many U.S. banks.

Portfolio Pulse from Henry Khederian

August 22, 2023 | 2:44 pm

GEF

GPK

OXM

TNL

UHG

Benzinga Insights has identified five value stocks in the consumer cyclical sector that may be worth watching: United Homes Gr (UHG), Travel+Leisure (TNL), Greif (GEF), Oxford Industries (OXM), and Graphic Packaging Holding (GPK). These companies have been selected based on their low P/E multiples, indicating they may be undervalued. The companies have also reported Q2 earnings per share and dividend yields.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:44 pm

IMMR

RELL

SURG

TSRI

Benzinga Insights has identified five value stocks in the technology sector based on quantified analysis. These include Daqo New Energy (NYSE:DQ), Surgepays (NASDAQ:SURG), TSR (NASDAQ:TSRI), Richardson Electronics (NASDAQ:RELL), and Immersion (NASDAQ:IMMR). The companies have been selected due to their low P/E multiples, indicating they may be undervalued. Recent earnings per share and dividend yield data for each company is also provided.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:41 pm

NAAS

Chinese EV charging company NaaS Technology Inc (NASDAQ:NAAS) has agreed to acquire 100% of the shares of Sweden-based Charge Amps AB for $66.4 million. The deal will be financed through a combination of cash and newly issued ordinary shares. NaaS held $78.8 million in cash and equivalents as of March 31, 2023. The acquisition is expected to boost NaaS's EV charging service capacity in Europe.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 2:40 pm

KEY

KeyCorp (NYSE:KEY) shares are trading lower by 2.57% after S&P Global Ratings downgraded the bank's credit rating. This could indicate increased risk associated with the bank's financial stability and ability to meet its obligations, shaking investor confidence. The Federal Reserve’s tight grip on monetary policy is putting a strain on the funding, liquidity, and revenue of many U.S. banks, including KeyCorp.

Portfolio Pulse from Henry Khederian

August 22, 2023 | 2:36 pm

Land's End Inc (NASDAQ:LE) has partnered with global recycled cotton fiber producer Recover to develop a sustainable denim collection. The product will contain 20% of Recover's recycled cotton fiber produced from textile waste scraps. This move supports Land's End's goal to become a more circular business. LE shares traded lower by 0.63% at $9.52 on the last check Tuesday.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 2:33 pm

KVUE

A significant bearish stance has been taken on Kenvue (NYSE:KVUE) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 48% bullish and 52% bearish. The whales have been targeting a price range from $22.5 to $30.0 for Kenvue over the last 3 months. The price of KVUE is currently up 2.42% at $23.45.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:31 pm

CMA

Shares of Comerica Incorporated (NYSE:CMA) are trading lower by 2.28% after S&P Global Ratings downgraded the bank's credit rating. The downgrade could signal increased risk associated with the bank's financial stability and ability to meet its obligations, potentially eroding investor confidence.

Portfolio Pulse from Henry Khederian

August 22, 2023 | 2:29 pm

FULC

HAS

HKD

VFS

Several stocks recorded gains in the recent trading session. Fulcrum Therapeutics shares gained 42.8% after the FDA lifted clinical hold on the company’s FTX-6058 for sickle cell disease. VinFast Auto gained 36.5% amid volatility following its recent Nasdaq debut. Fabrinet jumped 25% after reporting better-than-expected Q4 results and issuing guidance. AMTD Digital gained 13.8% after announcing a $30 million share repurchase program. Hasbro rose 7.4% after B of A Securities maintained a Buy rating and raised the price target.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 2:29 pm

NIO

NIO Inc's shares have been volatile this week, with a 2.6% gain on Monday followed by a drop on Tuesday. The fluctuation follows the company's announcement of increased production of its ES6 vehicle after a temporary halt in August for manufacturing process upgrades. NIO's monthly delivery numbers have shown a steady increase in Q2, with 20,462 vehicles delivered last month. However, forecasts for China's economic expansion have been revised lower due to rate uncertainty, pressuring several Chinese companies. NIO is expected to report a Q2 loss of 36 cents per share and revenue of $1.35 billion on August 29.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 2:28 pm