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BCAN

Cannasoft Enterprises announced the pricing of a $2.6 million underwritten public offering of 1,733,334 shares at $1.50 per share, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 3:19 pm

KDP

KO

PEP

Morgan Stanley analyst Dara Mohsenian has downgraded PepsiCo's rating to Equal-weight from Overweight, with a price target of $210, following the company's Q2 performance. Despite reporting a 10.4% YoY sales growth and raising its FY23 organic revenue growth outlook to 10%, Mohsenian believes that PepsiCo's valuation is now priced in for these positives, limiting the stock's upside. PepsiCo's relative valuation is now near a modern-day record high compared to its peers Coca-Cola and Keurig Dr. Pepper.

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2023 | 3:16 pm

RYAAY

Zacks SurpriseTrader has reportedly purchased shares in Ryanair Holdings (RYAAY).

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 3:15 pm

TLK

Telkom Indonesia Inc. (NYSE:TLK) has seen its shares fall by 9.48% in the past three months. The company's total debt stands at $4.82 billion, with $3.23 billion in long-term debt and $1.59 billion in current debt. After adjusting for $1.31 billion in cash-equivalents, the net debt is $3.51 billion. The company's debt-ratio is 0.28, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 3:15 pm

JZXN

Jiuzi Holdings Inc (NASDAQ:JZXN) shares have dropped over 50% following a securities purchase agreement with institutional investors to purchase $2.3 million worth of its ordinary shares in a registered direct offering. The purchase price per share is $1.65. The offering is expected to close on July 19, 2023.

Portfolio Pulse from Shivani Kumaresan

July 17, 2023 | 3:14 pm

BABA

JD

PDD

TME

China's Q2 2023 economic growth of 6.3% YoY missed the market's projected 7.3% rise, causing a negative impact on U.S.-listed Chinese equities and sectors linked to Chinese growth. Commodities like copper, gold, and silver fell, while Chinese ADRs Tencent Music Entertainment Group (TME) and PDD Holdings (PDD) declined by 5% and 3% respectively. Alibaba Group Holding Ltd. (BABA) and JD.com, Inc. (JD) limited their losses to 1.6% and 0.8% respectively. European luxury stocks and materials and mining sector stocks also experienced declines.

Portfolio Pulse from Piero Cingari

July 17, 2023 | 3:09 pm

TWLO

Piper Sandler analyst James Fish has downgraded Twilio Inc (NYSE:TWLO) stock rating from Overweight to Neutral and raised the price target from $56 to $71. The downgrade comes despite shares being up ~40% since Q1 due to bullish conference commentary, broader market moves, and potential activism. Fish cites macro-environment uncertainty, recent divestitures, and high sales estimates as reasons for the downgrade. He also sees limited upside for Twilio in the CPaaS space and believes the company needs to use its ~$3.5 billion net cash for further Software M&A.

Portfolio Pulse from Anusuya Lahiri

July 17, 2023 | 3:07 pm

GNL

GOOD

Global Net Lease (NYSE:GNL) is set to deliver a dividend payout of $0.40 per share, equating to an annualized dividend yield of 15.56%. However, the company has seen a decline in its dividend per share and earnings per share from 2020 to 2022, which could indicate a challenging financial situation. Global Net Lease has the highest dividend yield among its industry peers, outperforming Gladstone Commercial (NASDAQ:GOOD), which has an annualized dividend yield of 9.00%.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 3:05 pm

BABA

BEKE

JD

PDD

Chinese stocks are trading lower following China's Q2 GDP missing consensus estimates. Stocks mentioned include BABA, BEKE, JD, and PDD.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 3:02 pm

PBR

Benzinga's options scanner detected over 20 options trades for Petrobras Brasileiro (NYSE:PBR) summing a total amount of $800,770. Whales have been targeting a price range from $10.0 to $20.0 for Petrobras Brasileiro over the last 3 months. The price of PBR is down -1.47% at $13.33. Goldman Sachs upgraded its action to Buy with a price target of $18.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 3:02 pm