Streetbeat News

Stock Prices

JBGS

Evercore ISI Group analyst Steve Sakwa has downgraded JBG SMITH Props (NYSE:JBGS) from In-Line to Underperform and lowered the price target from $16 to $15.

Portfolio Pulse from richadhand@benzinga.com

August 17, 2023 | 8:33 am

ALC

JP Morgan analyst David Adlington has upgraded Alcon (NYSE:ALC) from Neutral to Overweight and raised the price target from $79.8 to $89.3.

Portfolio Pulse from richadhand@benzinga.com

August 17, 2023 | 8:31 am

BEDU

Bright Scholar Education Holdings (BEDU) forecasts FY23 revenue to be between RMB1.9B and RMB2.0B, representing a YoY increase of 10%-15%. This is higher than the estimated $616.77M.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:16 am

QSR

Restaurant Brands International Inc. (RBI) announced that an underwritten registered public offering of up to 7,136,149 common shares commenced by HL1 17 LP, an affiliate of 3G Capital Partners Ltd., had priced. These common shares relate to the exchange notice received by RBI from the Selling Shareholder, to exchange 7,136,149 Class B exchangeable limited partnership units of RBI.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 7:46 am

ARHS

Arhaus, Inc. (NASDAQ:ARHS) has announced the pricing of a secondary public offering of 12 million shares of Class A common stock by selling stockholders affiliated with Freeman Spogli & Co. The shares are priced at $10.00 each. The selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1.8 million shares at the public offering price, less the underwriting discount. The offering is expected to close on August 21, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 7:44 am

BRK

QQQ

SPY

Robert Kiyosaki, author of 'Rich Dad Poor Dad', claims that Warren Buffett and Michael Burry are preparing for a potential stock market crash. Buffett's Berkshire Hathaway recently sold a net of $8 billion of stocks, increasing its total cash and Treasurys to a near-record $147 billion. Michael Burry's Scion Asset Management disclosed bearish put options on the SPDR S&P 500 ETF Trust and Invesco QQQ Trust.

Portfolio Pulse from Benzinga Neuro

August 17, 2023 | 7:07 am

BONEUSD

ETHUSD

SHIBUSD

Shiba Inu's price has dropped by 8% following the problematic launch of the Shibarium network. Transactions on the network were halted for at least five hours, with users unable to transfer Ethereum and BONE tokens. The Shibarium RPC website is currently inaccessible or experiencing downtime. Shytoshi Kusama, the lead developer of Shiba Inu, admitted in a Telegram channel that they 'f***ed up hard' and can't recover the ETH bridge.

Portfolio Pulse from Mehab Qureshi

August 17, 2023 | 6:57 am

BTCUSD

Renowned trader Peter Brandt has shared his insights on Bitcoin's current position, suggesting potential bearish signals. He pointed out that Bitcoin is seriously challenging a multi-contact point trendline from its 2023 bottom. Any movement through the August low could be interpreted as either a bear signal or a bear trap. This comes amidst varying opinions on Bitcoin's trajectory from other analysts.

Portfolio Pulse from Benzinga Neuro

August 17, 2023 | 6:53 am

HAWEL

Hawaiian Electric (OTC:HAWEL) is reportedly in discussions with restructuring specialists due to financial and legal challenges stemming from the Maui wildfires. The company faces plummeting stock and bond values and has been slapped with lawsuits accusing the company of intensifying the wildfire damage. S&P Global Ratings downgraded Hawaiian Electric's credit rating to junk, citing the significant loss of its customer base due to the wildfires and the impending lawsuits.

Portfolio Pulse from Benzinga Neuro

August 17, 2023 | 6:52 am

AMAT

PGR

ROST

TGT

TPR

WMT

The CNN Money Fear and Greed index moved to the 'Neutral' zone after the Federal Reserve's July meeting minutes indicated a possibility of rising interest rates due to inflation risks. U.S. stocks settled lower, with the Nasdaq falling more than 1%. Shares of Target (TGT) and The Progressive Corporation (PGR) gained after reporting better-than-expected earnings. Investors are awaiting earnings results from Walmart (WMT), Tapestry (TPR), Applied Materials (AMAT), and Ross Stores (ROST).

Portfolio Pulse from Lisa Levin

August 17, 2023 | 6:48 am