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Stock Prices

NOW

ServiceNow (NYSE:NOW) has seen unusual options activity, with a majority of investors taking a bearish stance. The trades include 9 puts for a total of $402,685 and 6 calls for a total of $212,824. Whales have been targeting a price range from $450.0 to $610.0 for ServiceNow over the last 3 months. The current price of NOW is down -0.81% at $550.42. Several experts have downgraded their ratings but maintained high price targets.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 6:30 pm

MPC

A significant amount of unusual options activity has been observed for Marathon Petroleum (NYSE:MPC), with a majority of investors taking a bearish stance. Whales have been targeting a price range from $110.0 to $160.0 for Marathon Petroleum over the last 3 months. The current price of MPC is up 1.68% at $142.35. Analysts from Wells Fargo, RBC Capital, Raymond James, Morgan Stanley, and Barclays have maintained their ratings on Marathon Petroleum, with price targets ranging from $120 to $165.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 6:30 pm

BURU

DRUG

DTSS

PAY

PTRA

SEAC

UPS

United Parcel Service (UPS) reported a Q2 FY23 revenue decline of 10.9% YoY to $22.055 billion, missing the consensus of $23.11 billion. Adjusted EPS was $2.54, beating the consensus of $2.50. For FY23, UPS now expects consolidated revenue to be about $93 billion, down from the prior $97 billion. Other stocks mentioned include Nuburu (BURU), Paymentus Holdings (PAY), Bright Minds Biosciences (DRUG), Proterra (PTRA), SeaChange International (SEAC), and Datasea (DTSS).

Portfolio Pulse from Lisa Levin

August 08, 2023 | 6:30 pm

Shares of Citigroup Inc (NYSE:C) are trading lower after Moody's cut the credit ratings of 10 banks and placed others under review for potential downgrades. The negative credit rating actions on regional banks can lead to a broader negative sentiment within the financial sector, affecting all financial institutions, including investment banks like Goldman Sachs. Moody’s action comes amid worries about rising financing costs, possible weaknesses in regulatory capital, and escalating risks linked with commercial real estate lending.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 6:23 pm

BUD

TLRY

Tilray Brands Inc (NYSE:TLRY) has acquired eight beer and beverage brands from Anheuser-Busch Inbev (NYSE: BUD). The all-cash deal, expected to close this year, includes current employees, breweries, and brewpubs associated with the brands. The acquisition will generate craft beer pro forma revenue of $250 million and strengthen Tilray's distribution capabilities. Tilray's CEO, Irwin Simon, stated that the company is diversifying its business and is not solely dependent on cannabis legalization in the U.S.

Portfolio Pulse from Adam Eckert

August 08, 2023 | 6:19 pm

BNTX

BioNTech SE (BNTX) shares are trading higher by 3.28% to $101.73 after falling on Monday. The company announced a decline in second-quarter revenues to €167.7 million from €3.2 billion in the previous year. This reduction is attributed to write-offs by collaboration partner Pfizer Inc, leading to a decrease in the company's gross profit share for the quarter.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 6:18 pm

BETZ

DKNG

MGM

PENN

PENN Entertainment is set to report its Q2 financial results. The company is expected to report a revenue of $1.67 billion, matching its Q1 revenue. Analysts estimate earnings per share of 42 cents. The company's Interactive sports betting unit reported a YoY increase in revenue in Q1. PENN completed the acquisition of Barstool Sports in February and raised its full-year guidance to a range of $6.37 billion to $6.81 billion. The company's shares have lagged behind peers, down 33% in the last year and 17% YTD.

Portfolio Pulse from Chris Katje

August 08, 2023 | 6:08 pm

The Carlyle Group Inc (NASDAQ:CG) has agreed to acquire a significant minority stake in Singapore-based engineering services firm Quest Global. The deal will see current investors Bain Capital and Advent International exit, while Quest Global will repurchase its own shares. The transaction is subject to regulatory approvals. Carlyle recently reported Q2 total segment revenues of $977.9 million, beating the consensus of $809.1 million.

Portfolio Pulse from Lekha Gupta

August 08, 2023 | 6:05 pm

CNFR

Conifer Holdings (NASDAQ:CNFR) is set to release its latest quarterly earnings report on August 9, 2023. Analysts estimate an earnings per share (EPS) of $-0.39. The company's past performance shows a pattern of beating EPS estimates, which often leads to an increase in share price. However, the stock has been on a downward trend over the last 52-week period, with shares down 13.48%.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 6:02 pm

VMD

Viemed Healthcare (NASDAQ:VMD) is set to release its quarterly earnings report on Wednesday, 2023-08-09, with analysts estimating an EPS of $0.05. The company's past performance shows a pattern of share price drops following earnings reports. The stock is currently trading at $8.54, up 35.82% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 6:02 pm