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STGW

Wells Fargo has downgraded Stagwell's stock from Overweight to Equal-Weight and reduced its price target from $9 to $8. This has led to a decrease in Stagwell's share price.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 2:41 pm

BABA

Alibaba has announced that it will not participate in affiliate Ant Group's share buyback program. The buyback plan values Ant Group at a nearly 70% discount from its proposed IPO price in 2020. Alibaba has decided not to sell any shares to maintain its shareholding in Ant Group.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 2:41 pm

AFCG

REFI

SEVN

SOHO

TCI

Benzinga Insights has identified several value stocks in the real estate sector, including Sotherly Hotels (SOHO), Transcontinental Realty (TCI), AFC Gamma (AFCG), Seven Hills Realty Trust (SEVN), and Chicago Atlantic Real (REFI). These companies have low P/E multiples, indicating they may be undervalued. However, the risk with value stocks is that they may not rebound from their undervalued position.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 2:39 pm

TWLO

RBC Capital has downgraded Twilio's stock from Sector Perform to Underperform and reduced its price target from $55 to $50. This has resulted in Twilio shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 2:36 pm

FAZE

FaZe Holdings Inc (NASDAQ:FAZE) is reportedly evaluating acquisition offers from Gamesquare and Enthusiast Gaming. The potential deals may include an equity swap and a possible cash infusion. FaZe Holdings, which went public via SPAC a year ago, has seen its stock steadily trend lower after an initial surge. The company has until September 19 to regain compliance and avoid delisting from Nasdaq.

Portfolio Pulse from Adam Eckert

July 24, 2023 | 2:35 pm

NFLX

TSLA

TWLO

Twilio Inc. (NYSE:TWLO) shares are down following a downgrade from RBC Capital analyst Rishi Jaluria from Sector Perform to Underperform, with a lowered price target from $55 to $50. The tech sector is experiencing a downturn, with Netflix (NASDAQ:NFLX) and Tesla (NASDAQ:TSLA) also trading lower after their quarterly reports. Twilio's Q2 2023 results will be released on Aug. 8.

Portfolio Pulse from Erica Kollmann

July 24, 2023 | 2:33 pm

BOH

Bank Of Hawaii Corporation (NYSE:BOH) reported Q2 revenues of $167.60 million, missing the consensus of $170.07 million. Net interest income fell 6.4% Y/Y to $124.3 million, primarily due to higher funding costs. Total deposits decreased by 2.5% from the previous year. The company's net income was down 19% Y/Y. However, BOH shares traded higher by 3.51% at $55.58 on the last check Monday.

Portfolio Pulse from Nabaparna Bhattacharya

July 24, 2023 | 2:32 pm

FRTX

Fresh Tracks Therapeutics Inc (FRTX) shares are trading lower by 12.8% to $0.83. This follows the company's announcement of an $8.25 million buyout of its right to receive future sofpironium bromide payments from Botanix. Under the terms of the APA Amendment, Botanix will pay $8.25 million in cash in lieu of all remaining amounts potentially payable by Botanix to the company.

Portfolio Pulse from Henry Khederian

July 24, 2023 | 2:32 pm

BCDA

BioCardia Inc (NASDAQ:BCDA) has paused its Phase 3 pivotal CardiAMP Cell Therapy Heart Failure Trial on the recommendation of the independent Data Safety Monitoring Board (DSMB). The DSMB has completed a review of the data and recommended the trial be paused for a one-year follow-up outcomes analysis. The DSMB also noted that the trial was unlikely to meet its primary endpoint. Following the news, BCDA shares fell by 45.80%.

Portfolio Pulse from Vandana Singh

July 24, 2023 | 2:32 pm

PHG

Koninklijke Philips reported its Q2 financial results and issued FY23 guidance, which led to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 2:32 pm