Drive-through coffee chain Dutch Bros. (BROS) announced a public offering of its Class A common stock.
JPMorgan upgrades Best Buy (BBY) stock to Overweight.
Lastly, Raymond James analysts initiated coverage on health insurer Humana (HUM) at a Market Perform rating.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
SEANA SMITH: Welcome back to Yahoo Finance. I'm Seana Smith. It is Friday morning, just about 30 minutes into the trading day. Let's take a look at how things are shaping up.
We're seeing some pressure here across the board. You've got the S&P off just below the flat line investors digesting what we heard from the Fed earlier this week. Jay Powell reiterating the fact that the central bank does see three cuts before the end of the year.
That was enough to lift stocks to record highs yesterday. So again, giving back some of those gains today. Let's get to some of those individual movers, some of the stocks that we are watching. That first one, let's take a look at Dutch Bros.
Dutch Bros under a bit of pressure here this morning. The stock off just about 5%. The coffee chain announcing an underwritten public offering of its class A common stock. Dutch Bros is looking to sell stock holders associated with TSG consumer partners 8 million shares at the offering price of 34 bucks a share.
Now the public offering is expected to close sometime next week. And you are seeing Dutch Bros trade just above 33 bucks a share. We're also watching shares of Best Buy. JP Morgan upgrading the stock on the electronics retailer from neutral to overweight.
The analyst there saying that they see more demand for their products and believe that deflationary headwinds are going to moderate soon, which should help the company improve its growth going forward. Again, the stock up just about 2%.
And Humana shares ticking higher, after Raymond James initiated coverage on the stock that gave Humana-- gave Humana a market perform rating and also set a price target of 20 bucks a share. Raymond James seeing limited near-term upside for the health insurer, despite facing elevated Medicare cost trends and competitive dynamics over the last year. The stock, though, up nearly 1% today.
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