Drive-through coffee chain Dutch Brothers (BROS) announced a public offering of its Class A common stock.
JPMorgan upgrades Best Buy (BBY) stock to Overweight.
Finally, Raymond James analysts initiated coverage of health insurance company Humana (HUM) with a Market Perform rating.
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor's note: This article was written by luke carberry morgan.
video transcript
Sheena Smith: Welcome to Yahoo Finance. I'm Sheena Smith. It was Friday morning, just 30 minutes into trading. Let's take a look at how things are forming.
You can see that there is a lot of pressure across the board. As investors digest what they heard from the Fed earlier this week, we see S&P stock prices just below the flatline. Chairman Jay Powell reiterated the fact that the central bank is considering three rate cuts by the end of the year.
That was enough to push stocks to all-time highs yesterday. Well, today we will give back some of that profit. Let's take a look at some of those individual moves, and some of the stocks we're watching. For the first one, let's take a look at Dutch Bros.
The Dutch Brothers are under a bit of pressure here this morning. Stocks fell by only about 5%. The coffee chain announced an underwritten public offering of Class A common stock. Dutch Brothers is considering selling 8 million shares to shareholders associated with TSG Consumer Partners at an offering price of $34 per share.
The call for applications is currently scheduled to close by the end of next week. And Dutch Brothers is trading at just over $33 per share. We are also keeping an eye on Best Buy's stock price. JP Morgan upgraded the consumer electronics retailer's stock from neutral to overweight.
The analyst said he expects demand for its products to rise further and believes deflationary headwinds will soon subside, which should help the company improve its growth going forward. Again, the stock price rose only about 2%.
And Humana's stock price has been rising since Raymond James initiated coverage on the stock, giving Humana a Market Perform rating and setting a price target of $20 per share. Raymond James sees limited short-term upside for health insurers despite facing rising Medicare cost trends and competitive dynamics over the past year. However, the stock rose nearly 1% today.
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