Grupo Comercial Chedraui Stock (OTC: GCHEF)

Latest news for Grupo Comercial Chedraui (OTC:GCHEF) Stock

Grupo Comercial Chedraui SAB de CV is a Spanish company engaged in the operation of hypermarkets in Mexico and supermarkets in the United States, and it also has a real estate division. In Mexico, the company operates through two retail formats: Tiendas Chedraui and Super Chedraui, which represent different sizes and depth of assortment. The retail stores in the U.S. are located in three southwest states: California, Nevada, and Arizona. The real estate division is involved in locating, building, and remodelling the stores, as well as leasing commercial space in shopping malls where there are Chedraui stores.

GRUPO COMERCIAL CHED ORD by Grupo Comercial Chedrui SAB de CV

Grupo Comercial Chedraui SAB de CV

Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) ("Diamondback") announced today the launch of an underwritten public offering of 11,270,000 shares of its common stock by certain Legacy Endeavor Stockholders (the "Selling Stockholders"), subject to market and other conditions (the "Secondary Offering"). Diamondback will not receive any proceeds from the sale of the shares by the Selling Stockholders. The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1,390,500 shares of common stock. &nbsp;
In addition, Diamondback has authorized the purchase from the underwriters of 2,000,000 shares of common stock offered in the Secondary Offering (the "Share Repurchase"). The Share Repurchase is part of the Diamondback's existing share repurchase program. Diamondback intends to fund the Share Repurchase from existing cash on hand. The underwriters will not receive any compensation for the shares being repurchased by Diamondback in the Share Repurchase.
Evercore ISI, Citigroup and J.P. Morgan are acting as joint book-running managers for the Secondary Offering.

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Diamondback Energy Announces Launch Of Secondary Common Stock Offering Of 11.27M Shares Of Common Stock; Diamondback Has Authorized The Purchase From The Underwriters Of 2M Shares Of Common Stock Offered In The Secondary Offering As Part Of Its Existing Repurchase Program

After a bullish session on Thursday, with both the S&amp;P 500 and the Dow Jones hitting record highs, spurred by increased risk appetite following a bold 0.5% rate cut by the Federal Reserve, traders are gearing up for a volatile <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40944143/wall-street-breaks-records-chipmakers-rally-tesla-hits-2-month-high-as-fed-cut-drives-risk">end to the week.</a>
Friday marks a notorious &#8220;Triple Witching&#8221; day, when stock index futures, stock index options and individual stock options expire simultaneously — a convergence that historically stirs market turbulence.
Goldman Sachs estimates than more than $4.5 trillion in notional options exposure will expire on Friday, including $605 billion in single-stock options. 
According to Bloomberg, using estimates from derivatives analytical firm Asym 500, the overall notional options expiring Friday reach $5.1 trillion when including options tied to ETFs.
&#8220;This Friday will be the largest September-options expiration on record, driven by elevated index and ETF options volumes,&#8221; wrote Goldman Sachs analyst John Marshall. 
While the September expiration will set a new record, it&#8217;s expected to be smaller than the previous quarterly expirations of 2024.
<h3 class="wp-block-heading">A Record-Breaking Expiration Day</h3>
Goldman Sachs highlighted that average daily index and ETF options volumes have reached a new high this quarter. In contrast, single-stock options trading has seen a decline. 
The sheer magnitude of options expiring Friday could trigger a wave of volatility as traders scramble to adjust their position, and the Federal Reserve&#8217;s recent rate cut might not be enough to temper the storm.
Could this triple witching day spoil the market rally ignited by the Fed?
<h3 class="wp-block-heading">What Is &#8216;Triple Witching&#8217;? How Did Markets Previously Perform? </h3>
Triple witching refers to the simultaneous expiration of three types of derivative contracts — stock index futures, stock index options and single-stock options — on the same day, occurring quarterly on the third Friday of March, June, September and December.
This convergence can lead to heightened market volatility as traders close, roll over or offset their expiring contracts, often resulting in unusual price movements and increased trading volumes.
Looking back at the last three triple witching events, the S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has struggled during these high-stakes trading days.
<ul>
<li>June 21, 2024: The S&amp;P 500 dropped 0.5%.</li>
<li>March 15, 2024: The index fell by 1%.</li>
<li>Dec. 15, 2023: The S&amp;P 500 declined 0.6%.</li>
</ul>
Tech stocks, represented by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), underperformed in the last two triple witching occasions, falling 0.8% in June and 1.2% in March, while surging 0.5% in December 2023. 
<h3 class="wp-block-heading">Goldman Sachs Recommends VIX Calls Ahead of Volatility Spike</h3>
September is historically the worst month for stock market performance.
According to Ryan Detrick, chief market strategist at Carson Group, the last two weeks of September are the worst period for stocks during the year, as the expert showed in a post on social media platform X.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You are here. The worst two weeks of the year for stocks. <a href="https://t.co/kXDg0lXKOX">pic.twitter.com/kXDg0lXKOX</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1835859506221461664?ref_src=twsrc%5Etfw">September 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The CBOE Volatility Index (VIX), often referred to as the market&#8217;s fear gauge, has dropped significantly since its spike in August.
The index is sitting at 17, well below its multiyear average, and Goldman Sachs sees the VIX on the rise as we enter the seasonally volatile period.
Goldman Sachs&#8217; economic model estimates that, given macroeconomic conditions, the VIX should be at 24.5, suggesting the current low volatility may not last much longer.
The investment bank issued a recommendation for investors to hedge their portfolios using VIX calls. Specifically, Goldman Sachs analysts advise buying CBOE Volatility Index (VIX) November calls at a strike price of 18.
Read Next:
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</ul>
Photo via Shutterstock.

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Traders Brace For Friday Volatility As Over $5 Trillion In Options Expire: Could 'Triple Witching' Spoil Fed's Rally?

Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) shares are jumping in Thursday&#8217;s after-hours session after the company <a href="https://www.benzinga.com/pressreleases/24/09/b40947704/nike-inc-board-of-directors-announces-long-time-nike-veteran-elliott-hill-to-return-as-president-a">announced a CEO transition</a>.
What Happened: After the market close on Thursday, Nike announced that longtime Nike veteran Elliott Hill will become president and CEO of Nike, effective Oct. 14. Hill will also become a director on the board and a member of the executive committee.
The board and John Donahoe made the decision that Donahoe will retire from his role as president and CEO of Nike, effective Oct. 13. The exiting CEO will remain an advisor to the company through Jan. 31, 2025, to ensure a smooth transition.
&#8220;Given our needs for the future, the past performance of the business, and after conducting a thoughtful succession process, the Board concluded it was clear Elliott&#8217;s global expertise, leadership style, and deep understanding of our industry and partners, paired with his passion for sport, our brands, products, consumers, athletes, and employees, make him the right person to lead Nike&#8217;s next stage of growth,&#8221; said Mark Parker, executive chairman of Nike.
&#8220;Personally, I have worked with Elliott for more than 30 years and I look forward to supporting him and his senior management team as they seize the opportunities ahead.&#8221;
Related Link: <a href="https://www.benzinga.com/news/24/09/40941277/whats-going-on-with-nike-stock">What&#8217;s Going On With Nike Stock?</a>
Throughout his career at Nike, Hill held senior leadership positions across Europe and North America before retiring in 2020. Before his retirement, he was president of the company&#8217;s Consumer and Marketplace divisions, leading operations for Nike and Jordan brands.
&#8220;For 32 years, I&#8217;ve had the privilege of working with the best in the industry, helping to shape our company into the magical place it is today,&#8221; Hill said. 
&#8220;I&#8217;m eager to reconnect with the many employees and trusted partners I&#8217;ve worked with over the years, and just as excited to build new, impactful relationships that will move us ahead.&#8221;
NKE Price Action: Nike shares closed Thursday up 0.099%. At publication time, the stock was up 10.01% at $89.09 in extended trading, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

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Nike Stock Jumps 9% After The Bell, CEO Set To Retire

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BATL

Battalion Oil Corp shares are trading higher after the company announced it has amended its merger agreement with Fury Resources for the acquisition of all outstanding shares of Battalion at $7.00 per share in cash.

Investors with a lot of money to spend have taken a bullish stance on Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LOW, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 21 uncommon options trades for Lowe's Companies.
This isn't normal.
The overall sentiment of these big-money traders is split between 42% bullish and 42%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $233,364, and 15 are calls, for a total amount of $1,029,627.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $280.0 for Lowe's Companies during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Lowe's Companies options trades today is 1165.5 with a total volume of 3,971.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lowe's Companies's big money trades within a strike price range of $200.0 to $280.0 over the last 30 days.
<h3>Lowe's Companies Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726778848_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.3</td>
<td>$7.25</td>
<td>$7.3</td>
<td>$280.00</td>
<td>$221.9K</td>
<td>1.5K</td>
<td style="text-align: right;">344</td>
</tr>
<tr>
<td>LOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$11.2</td>
<td>$11.15</td>
<td>$11.15</td>
<td>$250.00</td>
<td>$200.5K</td>
<td>2.0K</td>
<td style="text-align: right;">261</td>
</tr>
<tr>
<td>LOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.6</td>
<td>$5.4</td>
<td>$5.4</td>
<td>$260.00</td>
<td>$76.6K</td>
<td>189</td>
<td style="text-align: right;">204</td>
</tr>
<tr>
<td>LOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$11.35</td>
<td>$11.3</td>
<td>$11.3</td>
<td>$250.00</td>
<td>$73.7K</td>
<td>2.0K</td>
<td style="text-align: right;">414</td>
</tr>
<tr>
<td>LOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$14.3</td>
<td>$14.3</td>
<td>$14.3</td>
<td>$250.00</td>
<td>$71.5K</td>
<td>3.0K</td>
<td style="text-align: right;">56</td>
</tr>
</tbody>
</table>

<h3>About Lowe's Companies</h3>
Lowe's is the second-largest home improvement retailer in the world, operating more than 1,700 stores in the United States, after the 2023 divestiture of its Canadian locations (RONA, Lowe's Canada, Réno-Dépôt, and Dick's Lumber). The firm's stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers as well as commercial and professional business clients (around 25% of sales). We estimate Lowe's captures a high-single-digit share of the domestic home improvement market, based on US Census data and management's market size estimates.
After a thorough review of the options trading surrounding Lowe's Companies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Lowe's Companies Standing Right Now?</h3>
<ul>
<li>With a volume of 2,187,069, the price of LOW is up 1.7% at $261.0. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 61 days.</li>
</ul>
<h3>Professional Analyst Ratings for Lowe's Companies</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $245.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Telsey Advisory Group persists with their Market Perform rating on Lowe's Companies, maintaining a target price of $230. 
&#x2A; Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Lowe's Companies with a target price of $265. 
&#x2A; Consistent in their evaluation, an analyst from Gordon Haskett keeps a Hold rating on Lowe's Companies with a target price of $240. 
&#x2A; An analyst from Morgan Stanley persists with their Overweight rating on Lowe's Companies, maintaining a target price of $255. 
&#x2A; An analyst from RBC Capital has decided to maintain their Sector Perform rating on Lowe's Companies, which currently sits at a price target of $238. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Lowe's Companies, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Check Out What Whales Are Doing With LOW

Financial giants have made a conspicuous bearish move on Procter &amp; Gamble. Our analysis of options history for Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $215,436, and 7 were calls, valued at $548,283.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $155.0 and $180.0 for Procter &amp; Gamble, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Procter &amp; Gamble's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Procter &amp; Gamble's whale trades within a strike price range from $155.0 to $180.0 in the last 30 days. 
<h3>Procter &amp; Gamble 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726778843_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$4.95</td>
<td>$4.9</td>
<td>$4.95</td>
<td>$180.00</td>
<td>$315.9K</td>
<td>1.4K</td>
<td style="text-align: right;">38</td>
</tr>
<tr>
<td>PG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$3.9</td>
<td>$3.7</td>
<td>$3.75</td>
<td>$175.00</td>
<td>$187.5K</td>
<td>2.7K</td>
<td style="text-align: right;">600</td>
</tr>
<tr>
<td>PG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.95</td>
<td>$1.94</td>
<td>$1.95</td>
<td>$175.00</td>
<td>$55.6K</td>
<td>14.8K</td>
<td style="text-align: right;">611</td>
</tr>
<tr>
<td>PG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$0.79</td>
<td>$0.53</td>
<td>$0.79</td>
<td>$172.50</td>
<td>$53.6K</td>
<td>1.4K</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>PG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$8.4</td>
<td>$8.1</td>
<td>$8.2</td>
<td>$175.00</td>
<td>$36.8K</td>
<td>129</td>
<td style="text-align: right;">45</td>
</tr>
</tbody>
</table>

<h3>About Procter &amp; Gamble</h3>
Since its founding in 1837, Procter &amp; Gamble has become one of the world's largest consumer product manufacturers, generating more than $80 billion in annual sales. It operates with a lineup of leading brands, including more than 20 that generate north of $1 billion each in annual global sales, such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. Sales outside its home turf represent more than half of the firm's consolidated total.
After a thorough review of the options trading surrounding Procter &amp; Gamble, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Procter &amp; Gamble Standing Right Now?</h3>
<ul>
<li>With a trading volume of 8,632,563, the price of PG is down by -1.37%, reaching $171.54.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 27 days from now.</li>
</ul>
<h3>Expert Opinions on Procter &amp; Gamble</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $188.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Procter &amp; Gamble, targeting a price of $186. 
&#x2A; In a positive move, an analyst from DZ Bank has upgraded their rating to Buy and adjusted the price target to $190. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Procter &amp; Gamble options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

This Is What Whales Are Betting On Procter & Gamble

Battalion Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BATL#NYSE">BATL</a>) ("Battalion" or the "Company") announced today that it has entered into an amendment to the previously disclosed Agreement and Plan of Merger (as amended, the&nbsp;"Merger Agreement") with Fury Resources, Inc. ("Buyer" or "Parent"), pursuant to which Parent has agreed to acquire all of the outstanding shares of Common Stock of the Company (the&nbsp;"Common Stock") for $7.00 per share in cash, without interest (the "Merger Consideration"). The holders of all of the outstanding shares of the Preferred Stock of the Company, Luminus Management, LLC ("Luminus"), Gen IV Investment Opportunities, LLC, and funds and accounts managed by Oaktree Capital Management, L.P. ("Oaktree"), or their respective affiliates&nbsp; (collectively, the "Rollover Stockholders"), have agreed to contribute to Buyer all of their shares of Preferred Stock of the Company in exchange for new preferred shares of Buyer at a valuation based on the redemption value of such Company Preferred Stock.
The transaction is expected to close in the fourth quarter of 2024, subject to various closing conditions as set forth in the Merger Agreement, including the approval of Battalion's stockholders.
Parent has confirmed to the Company that it has received the following capital commitments to complete the transactions contemplated by the Merger Agreement:
<ul>
<li>$200&nbsp;million in debt commitments from Fortress Credit Corp. and AI Partners Asset Management Co., Ltd;</li>
<li>$188&nbsp;million in total Preferred Stock commitments from a combination of the Rollover Stockholders listed above ($173 million) and AI Partners Asset Management Co., Ltd. ($15&nbsp;million);</li>
<li>$160&nbsp;million in equity commitments to acquire new shares of common stock of Parent. &nbsp;</li>
</ul>
Post-transaction, net of acquisition consideration and fees, Parent is expected to have approximately $100 million in cash on the balance sheet.
As previously disclosed, in connection with the transactions contemplated by the Merger Agreement, Luminus and Oaktree, who collectively own 61.61% of the Common Stock of the Company, had entered into a Voting Agreement with Buyer pursuant to which they have agreed, among other things, to vote 6,254,652 of their shares of Common Stock, which in the aggregate represents 38% of the total voting power of the shares of capital stock of the Company, in favor of adopting the Merger Agreement.
For Battalion, Houlihan Lokey Capital, Inc. acted as financial advisor and Mayer Brown LLP is acting as legal counsel. Jefferies LLC acted as financial advisor and K&amp;L Gates LLP is acting as legal counsel to Buyer.

Battalion Oil Corporation Announces Amendment To Merger Agreement With Fury Resources, Inc. For $7.00 Per Share In Cash

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Adobe CFO Daniel Durn Reports Open Market Sale Of 4,500 Shares at $515.23/Share And 2,000 Shares at $515.90/Share On September 17

Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) (&quot;Chewy&quot;), a trusted destination for pet parents and partners everywhere, announced today the commencement of an underwritten offering of $500 million of shares of its Class A common stock, par value $0.01 per share, by Buddy Chester Sub LLC (the &quot;Selling Stockholder&quot;), which is an entity affiliated with funds advised by BC Partners Advisors LP (&quot;BC Partners&quot;), Chewy&#39;s largest shareholder (the &quot;Offering&quot;). The Selling Stockholder intends to grant the underwriters a 30-day option to purchase up to an additional $75 million of shares of Class A common stock. Chewy will not sell any shares of its Class A common stock in the Offering and will not receive any proceeds from the sale of the shares of Class A common stock being offered by the Selling Stockholder. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.
In addition, Chewy has agreed to purchase from the Selling Stockholder $300 million of Chewy&#39;s Class A common stock at a price per share equal to the per share purchase price to be paid by the underwriters in the Offering specified above (the &quot;Concurrent Repurchase&quot;). The Concurrent Repurchase was approved by a special committee of Chewy&#39;s Board of Directors, consisting solely of independent and disinterested directors not affiliated with BC Partners. The repurchased shares will be cancelled and retired upon completion of the Concurrent Repurchase. The Concurrent Repurchase is being executed separately from the Company&#39;s existing $500 million share repurchase program authorized on May 24, 2024, which will be unaffected by this transaction. The Concurrent Repurchase is expected to be consummated concurrently with the Offering. The Offering is not conditioned upon the closing of the Concurrent Repurchase, but the Concurrent Repurchase is conditioned upon the closing of the Offering.

CHWY

Chewy Announces A $500M Underwritten Offering Of Shares By Its Largest Shareholder, Buddy Chester Sub LLC; Chewy Will Concurrently Repurchase $300M Of Its Stock From The Selling Stockholder At The Offering Price, Separate From Its Existing Share Repurchase Program

Chewy shares are trading lower after the company announced the public offering of shares by a selling stockholder and a concurrent share repurchase.

Biotech

General

ANGO

AngioDynamics Initiates RECOVER-AV Clinical Trial Of AlphaVac F18⁸⁵ System In Pulmonary Embolism And Long-Term Functional Outcomes

VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>) shares traded higher Thursday after the Federal Reserve cut interest rates by 50 basis points (bps) on Wednesday. The company will report its second-quarter results before Friday's opening bell and host a conference call at 8 a.m. ET to discuss the results.
<h1 class="wp-block-heading">Here's A <a href="https://www.benzinga.com/markets/equities/24/09/40866380/tesla-china-shines-lucid-gives-peek-into-model-y-rival-ford-eyes-electric-restart-in-india-and-m">Look At What To Know&nbsp;</a></h1>
What Happened: VinFast Auto shares closed higher Thursday amid a broad <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40944143/wall-street-breaks-records-chipmakers-rally-tesla-hits-2-month-high-as-fed-cut-drives-risk">market rally </a>as investors digested the Fed's larger-than-anticipated interest rate cut which marked the first in more than four years.
The rate cut brings the federal funds rate down to a range of 4.75% to 5% and will reduce the cost of borrowing for companies and consumers.&nbsp;
According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report quarterly losses of 21 cents per share and $460.089 million in revenue.&nbsp;
Read Next: <a href="https://www.benzinga.com/fintech/24/09/40928342/what-happened-with-sofi-stock-today">What Happened With SoFi Stock Today?</a>
What Else: Last week, the National Highway Traffic Safety Administration initiated a probe into VinFast's EVs based on complaints from vehicle owners. The probe covered around 3,118 vehicles manufactured in 2023 and 2024, with owners alleging that the vehicles had problems with the &#8220;Lane Keep Assist&#8221; system. 
Owners claimed the EVs had difficulty detecting lanes on the roadway and provided improper steering inputs.&nbsp;
<h1 class="wp-block-heading">Will VFS Stock Go Up?</h1>
When trying to assess whether or not VinFast Auto will trade higher from current levels, it's a good idea to take a look at analyst forecasts.
Wall Street analysts have an average 12-month price target of $8 on VinFast Auto. Of all the analysts covering VinFast Auto, six have positive ratings, no one has a neutral rating and no one has a negative rating.
In the last month, two analysts have adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/VFS/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering VinFast Auto have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. VinFast Auto is 43.83% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about VinFast Auto, visit <a href="https://www.benzinga.com/quote/VFS">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
VFS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, VinFast Auto shares ended Thursday's session 2.06% higher at $3.96.&nbsp;
Read Also:
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<li><a href="https://www.benzinga.com/news/24/09/40923038/whats-going-on-with-carnival-stock">What&#8217;s Going On With Carnival Stock?</a></li>
</ul>
Photo: Shutterstock

What's Going On With VinFast Auto Stock?

Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) reported quarterly earnings of $3.90 per share which beat the analyst consensus estimate of $3.63 by 7.44 percent. The company reported quarterly sales of $9.416 billion which beat the analyst consensus estimate of $9.164 billion by 2.76 percent. This is a 7.86 percent increase over sales of $8.730 billion the same period last year.

Earnings

Lennar Q3 2024 Adj. EPS $3.90 Beats $3.63 Estimate, Sales $9.416B Beat $9.164B Estimate

TBNK

In Response To Proposal From Blue Hill Advisors To Acquire Territorial Bancorp, Territorial Reaffirms Board's Commitment To Proposed Merger With Hope Bancorp

KOPN

Kopin shares are trading lower after the company announced a public offering of common stock and pre-funded warrants, size not disclosed.

The 2024 National Football League season enters Week 3 with nine of the 32 teams holding a perfect 2-0 record, including the Kansas City Chiefs, hoping to become the first NFL team to win<a href="https://www.benzinga.com/general/sports-betting/24/07/39752864/bettors-favor-kansas-city-chiefs-for-super-bowl-three-peat-heres-a-look-at-how-states-are-"> three straight Super Bowls.</a>
Here's a look at the betting odds and media companies that could benefit in the third week of the 2024 NFL season.
Week 3 Betting Odds: Week 3 features 16 <a href="https://www.benzinga.com/general/entertainment/24/09/40886493/nfl-games-dominate-week-1-ratings-start-week-2-with-a-bang-here-these-companies-might-benef">NFL games </a>across Thursday, Sunday and Monday and will see two matchups of 2-0 perfect teams.
Here are the week 3 matchups and the betting odds from sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) with the team's records in parentheses.
<ul>
<li>New England Patriots (1-1) at New York Jets (1-1) -6</li>
<li>Denver Broncos (0-2) at Tampa Bay Buccaneers (2-0) -6.5</li>
<li>Los Angeles Chargers (2-0) at Pittsburgh Steelers (2-0) -1.5</li>
<li>New York Giants (0-2) at Cleveland Browns (1-1) -6.5</li>
<li>Houston Texans (2-0) -2 at Minnesota Vikings (2-0)</li>
<li>Philadelphia Eagles (1-1) at New Orleans Saints (2-0) -2.5</li>
<li>Green Bay Packers (1-1) at Tennessee Titans (0-2) -2</li>
<li>Chicago Bears (1-1) at Indianapolis Colts (0-2) -1.5</li>
<li>Carolina Panthers (0-2) at Las Vegas Raiders (1-1) -5</li>
<li>Miami Dolphins (1-1) at Seattle Seahawks (2-0) -4.5</li>
<li>Detroit Lions (1-1) -3 at Arizona Cardinals (1-1)</li>
<li>Baltimore Ravens (0-2) -1 at Dallas Cowboys (1-1)</li>
<li>San Francisco 49ers (1-1) -7 at Los Angeles Rams (0-2)</li>
<li>Kansas City Chiefs (2-0) -3.5 at Atlanta Falcons (1-1)</li>
<li>Jacksonville Jaguars (0-2) at Buffalo Bills (2-0) -5</li>
<li>Washington Commanders (1-1) at Cincinnati Bengals (0-2) -7.5</li>
</ul>
A quick look at the betting odds shows five of the away teams favored, down from the six away teams favored in week two and up from two away teams favored in the first week.
The third week features the 2-0 matchups between the Chargers and Steelers and the Texans vs. the Vikings. BetMGM's John Ewing <a href="https://x.com/johnewing/status/1836214185673248852">notes </a>that in the last 10 years, underdogs are 35-20-1 against the spread when undefeated teams play each other.
None of the Week 3 matchups are between 0-2 teams, which means there could still be nine 0-3 teams after the week is over as these teams fight to get a win on their record.
Bettors may focus on 0-2 teams desperate for a win. Ewing noted that 0-2 teams are 52-33-1 against the spread in Week 3 over the past decade.
Thursday night's game kicks off with a big spread of six points, and sports betting reporter Ben Fawkes <a href="https://x.com/BFawkes22/status/1836766403648483476" target="_blank" rel="noopener">notes </a>that it will be the first time the Jets are favored against the Patriots in 25 games. This will end the longest active head-to-head streak of two teams against each other.
Sports betting reporter Evan Abrams <a href="https://x.com/EvanHAbrams/status/1835526810903138789">notes </a>that underdogs of 6+ points are 8-0 against the spread through the first two weeks, marking the best start for big underdogs in NFL history.
According to Fawkes, at DraftKings, the most bets on teams against the spread are the Chiefs -3.5 (81% of bets), Saints -2.5 (78%), Bengals -7.5 (77%), Raiders -5.5 (77%), and 49ers -7 (76%).
Sportsbooks have been<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40885110/draftkings-sportsbooks-could-benefit-from-week-2-nfl-underdogs-winning"> benefitting from underdogs </a>covering the spread and winning outright, and the public is 11-20-1 against the spread through the first two weeks, according to <a href="https://x.com/BFawkes22/status/1836526740220579887">Fawkes</a>.
Read Also: <a href="https://www.benzinga.com/general/sports-betting/24/09/40720484/which-4-teams-have-never-reached-the-super-bowl-betting-payouts-if-history-is-made-in-2024">Which 4 Teams Have Never Reached The Super Bowl? Betting Payouts If History Is Made In 2024 NFL Season</a>
Media Stocks on Watch: NFL games are averaging 19.7 million viewers per game through the first two weeks, up 12% year-over-year, as <a href="https://x.com/NFLMedia/status/1836495412649509024">reported </a>by the league. This marks the second-highest average through the second week in league history.
Here are the national primetime television games for the third week of the NFL season:
<ul>
<li>Thursday, Sept. 19, 8:15 p.m. ET: Patriots, Jets on Prime Video, a unit of Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and NFL+</li>
<li>Sunday, Sept. 22, 8:20 p.m. ET: Chiefs, Falcons on NBC, Peacock, units of Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>)</li>
<li>Monday, Sept. 23, 7:30 p.m. ET: Jaguars, Bills on ESPN, a unit of The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)</li>
<li>Monday, Sept. 23, 8:15 p.m. ET: Commanders, Bengals on ABC, ESPN+, units of Disney</li>
</ul>
The Sunday 1 p.m. ET and 4 p.m. ET games will be broadcast by Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) unit CBS and Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) unit FOX.
Disney could be the big winner for the week with two Monday Night Football games across its networks. Comcast also stands to benefit with a primetime matchup featuring the Chiefs. While Taylor Swift could be in attendance to watch boyfriend Travis Kelce, the Chiefs remain a popular team for viewership regardless. 
The Chiefs&#8217; first two games of the season are the most-watched NFL games, drawing 28 million viewers in Week 1 and 27.9 million in Week 2.
Comcast has two of the top five most watched NFL games through the first two weeks, with CBS, Fox and Disney each having one game on the list.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/24/08/40555085/sports-illustrated-predicts-detroit-lions-to-win-super-bowl-heres-how-much-100-bet-could-p">Sports Illustrated Predicts Detroit Lions To Win Super Bowl: Here&#8217;s How Much $100 Bet Could Pay If History Is Made</a></li>
</ul>
Photo: Shutterstock

Entertainment

Sports Betting

AMZN

CMCSA

DKNG

FOXA

PARA

PARAA

NFL Week 3 Betting Odds, National TV Games: Can Disney Win With Two Monday Night Football Games? How Many 2-0 Teams Will Stay Perfect?

Biodexa Pharmaceuticals PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDRX#NASDAQ">BDRX</a>), an acquisition-focused clinical stage biopharmaceutical company developing a pipeline of innovative products for the treatment of diseases with unmet medical needs, today announces a ratio change on its American Depositary Receipts ("ADR") from one (1) ADR representing four hundred (400) ordinary shares, to the new ratio of one (1) ADR representing ten thousand (10,000) ordinary shares (the "Ratio Change"). The effective date of the Ratio Change is expected to be October 4,2024.
Pursuant to the Ratio Change, ADR holders will be required on a mandatory basis to surrender their ADRs for cancellation and exchange to receive one (1) new ADR (New CUSIP: 59564R807) for every twenty-five (25) old ADRs (Old CUSIP: 59564R708). No fractional ADRs will be allocated. The aggregate fractions, if any, will be sold and the net proceeds will be distributed to the entitled ADR holder. The Company's Depositary, JP Morgan Chase Bank, N.A. will contact ADR holders and arrange for the exchange of their existing ADRs for new ADRs.

Stock Split

BDRX

Biodexa Pharmaceuticals Announces A Ratio Change On Its ADRs From 1 ADS Representing 400 Ordinary Shares, To The New Ratio Of 1 ADR Representing 10,000 Ordinary Shares (1-For-25) ; Effective Date Of The Ratio Change Is Expected To Be October 4,2024.

Dividends

W. P. Carey Increases Quarterly Dividend From $0.87 To $0.875/Share

Guidance
The following are the Company&#39;s expected results of its homebuilding and financial services activities for the&nbsp;fourth quarter&nbsp;of 2024:
<table border="0" cellpadding="1" cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
New Orders
</td>
<td colspan="1" rowspan="1">
19,000 - 19,300
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Deliveries
</td>
<td colspan="1" rowspan="1">
22,500 - 23,000
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Average Sales Price
</td>
<td colspan="1" rowspan="1">
About&nbsp;$425,000
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Gross Margin % on Home Sales
</td>
<td colspan="1" rowspan="1">
Flat with&nbsp;Q3
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
S,G&amp;A as a % of Home Sales
</td>
<td colspan="1" rowspan="1">
6.7%&nbsp;-&nbsp;6.8%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Financial Services Operating Earnings
</td>
<td colspan="1" rowspan="1">
$140 million
</td>
</tr>
</tbody>
</table>

Guidance

Lennar Sees Q4 Average Sales Price ~$425,000; Financial Services Operating Earnings $140M

Lennar shares are trading higher after the company reported better-than-expected Q3 financial results.

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Grupo Comercial Chedraui

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Latest news for Grupo Comercial Chedraui (OTC:GCHEF) Stock