Streetbeat News

Stock Prices

TSLA

Tesla shares rose 1.55% to $224.75 in premarket trading, potentially extending its winning streak to a ninth straight session. The stock is trading below the average analysts' price target of $199. Investors are excited about the upcoming Cybertruck launch and Model 3 refresh.

Portfolio Pulse from Shanthi Rexaline

June 07, 2023 | 9:37 am

COGT

Cogent Biosciences has priced its upsized public offering of 12.5 million shares at $12 per share, expecting to raise $150 million. The proceeds will be used for development, regulatory, and commercial preparation activities, as well as working capital and general corporate purposes.

Portfolio Pulse from Charles Gross

June 07, 2023 | 9:35 am

RHP

Ryman Hospitality Properties (NYSE:RHP) has upsized and priced its common stock offering at $93.25 per share, increasing the size from 3.5 million to 3.85 million shares. The net proceeds will be used to fund a portion of the $800 million acquisition of JW Marriott San Antonio Hill Country Resort & Spa.

Portfolio Pulse from Charles Gross

June 07, 2023 | 9:33 am

DAWN

Day One Biopharmaceuticals (NASDAQ:DAWN) has priced its underwritten public offering of 11,538,462 shares of common stock at $13.00 per share, expecting to raise approximately $150 million. The offering is set to close on June 9, 2023.

Portfolio Pulse from Charles Gross

June 07, 2023 | 9:29 am

NAMS

NewAmsterdam Pharma (NASDAQ:NAMS) has priced its secondary offering of 13,857,415 ordinary shares at $11.50 per share. The offering is expected to close on June 9, 2023, and the company will not receive any proceeds from it.

Portfolio Pulse from Charles Gross

June 07, 2023 | 9:19 am

MOND

Mondee Holdings Inc. (NASDAQ: MOND) has priced a secondary offering of 5.25 million shares at $10 per share on behalf of certain stockholders. The offering is expected to close on June 9, 2023. Mondee will not receive any proceeds from the offering. Morgan Stanley is the lead bookrunning manager.

Portfolio Pulse from Charles Gross

June 07, 2023 | 9:09 am

GM

General Motors (GM) has unveiled its new electric vehicle (EV) design concept, Proxima, targeting the Chinese market. The concept is not based on GM's Ultium Platform and was announced at GM's Forward-Looking Design Center in Shanghai. The Proxima EV concept aims to establish an emotional connection with future Chinese EV customers and is based on a pure electric platform.

Portfolio Pulse from Benzinga Newsbot

June 07, 2023 | 9:07 am

BABA

BIDU

FXI

JD

NIO

PDD

Shares of Chinese companies listed in the US are trading lower premarket due to weak export data reported late Tuesday, potentially affecting stocks such as BABA, BIDU, FXI, JD, NIO, and PDD.

Portfolio Pulse from Charles Gross

June 07, 2023 | 8:51 am

VIXM

The CBOE Volatility Index (VIX) settled below 14 for the first time in over three years, indicating a calmer market. The ProShares Trust VIX Mid-Term Futures ETF (VIXM) closed at $22.59, its lowest level since March 2020.

Portfolio Pulse from Shanthi Rexaline

June 07, 2023 | 8:50 am

CPB

CVGW

GME

SFIX

UNFI

United Natural Foods, Campbell Soup, Stitch Fix, Calavo Growers, and GameStop are stocks to watch on Wednesday. UNFI is expected to report quarterly earnings of 68 cents per share on revenue of $7.51 billion. Campbell Soup is expected to report earnings of 65 cents per share on revenue of $2.24 billion. Stitch Fix reported better-than-expected Q3 results, while Calavo Growers reported weaker-than-expected Q2 results. GameStop is expected to post a quarterly loss of 12 cents per share on revenue of $1.36 billion.

Portfolio Pulse from Lisa Levin

June 07, 2023 | 8:16 am