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WU

Gordon Haskett has noted that Western Union's stock has been significantly undervalued, trading for less than 6x EBITDA and generating $1B of free cash flow. The firm suggests that an activist could push the company to explore its own options.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 2:26 pm

FATE

Morgan Stanley analyst Michael Ulz has maintained an Equal-Weight rating on Fate Therapeutics (NASDAQ:FATE) but lowered the price target from $8 to $5.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 2:25 pm

SPRC

SciSparc Ltd (NASDAQ:SPRC) shares dropped by 59.8% after the company announced a proposed underwritten public offering of approximately $1.3 million. The offering includes 6.5 million ordinary shares at $0.20 per share. Aegis Capital Corp. has a 45-day option to buy additional shares up to 15% of the offering, potentially increasing total gross proceeds to around $1.5 million.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 2:25 pm

BABA

JD

Shares of JD.Com Inc (NASDAQ:JD) are trading higher by 3.9% to $39.14, in sympathy with Alibaba Group Holding Ltd - ADR (NYSE:BABA) which reported better-than-expected Q1 FY23 financial results. Alibaba's revenue grew 14% YoY to $32.29 billion, surpassing the consensus of $31.20 billion. JD.Com has a 52-week high of $67.87 and a 52-week low of $31.56.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 2:25 pm

ARMK

Aramark (NYSE:ARMK) shares are trading lower by 4.1% after the company announced pricing of a secondary offering of common stock. The offering of 21,262,245 common stock shares is priced at $39.75 per share. Aramark is not involved in selling shares and won't receive any proceeds. The offering is set to close around August 11.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 2:20 pm

ILMN

Illumina's shares are trading higher following the company's Q2 financial results, which exceeded expectations. The company also issued its FY23 EPS guidance. Evercore ISI Group has raised its price target for Illumina from $235 to $240.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 2:20 pm

TLRY

Tilray Brands Inc (NASDAQ:TLRY) shares are trading lower by 7.0% to $2.66 following the company's announcement of an agreement to acquire eight beer and beverage brands from Anheuser-Busch. The acquisition will make Tilray the 5th largest craft beer business in the U.S., up from 9th. The transaction is expected to close in 2023.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 2:19 pm

NKLA

Nikola Corporation's shares are trading higher after a 40% drop in the last five sessions. The volatility follows the company's Q2 financial results and an abrupt CEO transition. Nikola reported Q2 revenue of $15.36 million and a loss of 20 cents per share. CEO Michael Lohscheller stepped down due to a family health matter, and board chairman Steve Girsky assumed the CEO role. The company's shares are moving higher on above-average trading volume, attracting short sellers.

Portfolio Pulse from Erica Kollmann

August 10, 2023 | 2:19 pm

USFD

US Foods Holding Corp (USFD) reported Q2 2023 sales growth of 2.1% Y/Y to $9.01 billion, missing the consensus of $9.34 billion. Adjusted gross profit increased 8.8% Y/Y to $1.6 billion. Adjusted EBITDA grew 17.4% Y/Y to $432 million. The company repurchased 4.2 million shares worth $166 million in the quarter. US Foods revised the outlook for adjusted EPS to $2.55-$2.65 from $2.45 - $2.65 and raised adjusted EBITDA to $1.51 billion-$1.54 billion from $1.45 billion- $1.51 billion.

Portfolio Pulse from Lekha Gupta

August 10, 2023 | 2:18 pm

GILD

Gilead Sciences's (NYSE:GILD) short percent of float has risen 6.96% since its last report, with 18.84 million shares sold short. This represents 1.69% of all regular shares available for trading. An increase in short interest can indicate a bearish market sentiment towards a stock. However, Gilead Sciences's short interest as a percentage of float is less than its peer group average of 3.18%.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 2:15 pm