First-Ever Spot Bitcoin ETF in The US - $BEDU $GBTC $COIN $JNJ $CTLT - video Dailymotion

Benzinga

Bright Scholar Education Holdings Limited (NYSE:BEDU) shares rose 14.7% to $1.01 in pre-market trading. Bright Scholar Education recently announced its unaudited financial results for the six months of fiscal 2023 ended Feb. 28, 2023.  Grayscale Bitcoin Trust (BTC)(OTC: GBTC) The Grayscale Investments Bitcoin Trust (OTCPK: GBTC) experienced a 17% surge on Tuesday following a legal victory against SEC in federal court that could pave the way for the launch of the first spot-Bitcoin ETF in the U.S.  Coinbase Global Inc (COIN) Coinbase shares and bitcoin surge as judge paves the way for first-ever spot bitcoin ETF in the US. Coinbase Global, Inc. filed (Form144)  Johnson & Johnson Expects 2023 Adjusted EPS Of $10.00-$10.10 (Vs. Previous Guidance Of $10.70–$10.80 And Consensus Of $10.65.) And Adjusted Operational EPS Of $9.90 - $10.00 (Vs. Prior Guidance Of $10.60–$10.70). Johnson & Johnson Secured $13.2B In Cash Proceeds From The Kenvue Debt Offering And Initial Public Offering And Maintains 9.5% Of Equity Stake In Kenvue  Catalent (NYSE:CTLT) Catalent shares are trading higher after the company issued strong guidance and entered into a cooperation agreement with Elliott Investment Management. Catalent reported quarterly adjusted earnings of $0.09 per share which missed the analyst consensus estimate of $0.10 by 10 percent. This is a 91.67 percent decrease over earnings of $1.08 per share from the same period last year. The company reported quarterly sales of $1.07 billion which beat the analyst consensus estimate of $1.05 billion by 1.71 percent. This is a 17.02 percent decrease over sales of $1.29 billion the same period last year.

Transcript

00:00 Good morning, Zinger Nation. Welcome back to your daily Stocks to Watch. Today is Wednesday,

00:09 August 30th, almost the end of August now, near 2023. I feel like time is flying by.

00:16 We're at the end of the month of August, getting close to the end of summer. A little bit of

00:23 a reminder there and a sneak peek, a reminder that next Monday is Labor Day. No school for

00:29 U.S. markets. That is a market holiday, so we'll be taking a break too, but we'll be

00:33 back again on Tuesday. Again, next Monday is Labor Day, a market holiday. Don't expect

00:41 a ton of movement on the markets. Take some time off, maybe celebrate labor. I'm not sure

00:47 exactly how you might want to do that, but I don't know, fire up the grill one last time

00:52 or hopefully more than just one last time, but fire up the grill, relax a little bit

00:57 and enjoy the holiday. But before then, today is not Monday. Today is Wednesday and we've

01:03 got a great list for you. One, we've got Bright Scholar Education Holdings. That's ticker

01:11 BEDU. Number two, we've got Grayscale Bitcoin Trust. That's ticker BTCGBTC on the Grayscale

01:21 Investments Bitcoin Trust. Stock to Watch number three, we've got Coinbase Global.

01:26 That's ticker COIN. Number four, we've got Johnson & Johnson, ticker JNJ. Stock to Watch

01:33 number five is Catalan. That's ticker CTLT. Starting off with Bright Scholar, our first

01:40 one of the day, ticker BEDU. Shares rose almost 15% to $1.01 pre-market trading after it announced

01:49 its unaudited financial results for the six months of fiscal 2023 ending February 28th.

01:55 This is going back a bit, but Bright Scholar having a big, big move this morning. One of

02:02 these funky names that we see pop up every now and again, Bright Scholar is on those

02:09 lists of kind of funky mover stocks that we'll see coming out with big movement. Again, it

02:15 is a penny stock, is a pretty darn low price. I wonder what the float is actually as well.

02:22 Let's do some live digging. How many shares of BEDU are there? I have a feeling that this

02:32 is a low float stock as well. Yeah, only 7.83 million shares outstanding. So pretty darn

02:40 low float, pretty darn low price. This is one of those names that can get thrown around,

02:45 tossed around by the market. If you get some momentum going, this is one of those ones

02:52 that sees it every now and again. Stock will move pretty heavily at 15% moves, pretty big

02:57 and then a drop again, back down a bit. So we're seeing some big movement today in Bright

03:03 Scholar. Definitely one to be looking at if you're in the momentum sector. And it kind

03:08 of ties in pretty well in terms of our second stock, which is actually kind of a stock to

03:16 watch, but it's embroiled a whole number of things and it's on momentum, but not the kind

03:21 of momentum that we're just talking about with the stock price. But stock to watch number

03:25 two is Grayscale Bitcoin Trust. Not quite a stock in itself, but ticker GBTC experiencing

03:33 a massive 17% surge in price following a big legal victory against the US Securities Exchange

03:41 Commission, the SEC and a federal court that could pave the way for the launch of the first

03:46 spot Bitcoin ETF in the United States. This is, I would say, the big news coming out of

03:53 yesterday. Very big development and adding a lot of momentum for the crypto space. We've

04:00 been watching these settlements. We've been watching Grayscale fight with regulators and

04:05 try to get these ETFs moving for a very long time. It's been a back and forth. There's

04:09 been optimism and pessimism. But this is a big deal for Grayscale in federal court. So

04:15 this is one of the top levels that it could possibly go to. Theoretically, I'm not exactly

04:20 sure whether or not the SEC could appeal and then take it all the way to the Supreme Court.

04:27 That would be very interesting if we had a cryptocurrency ruling in the Supreme Court

04:31 coming up. But at least for now, a big victory for Grayscale and a big victory across the

04:39 crypto verse right now. Some big momentum coming out of that ruling. And that moves

04:45 handily on to stock to watch number three. We're going pretty fast today, but we've got

04:50 some good, good cohesiveness between these names. And that's Coinbase Global ticker COIN

04:59 shares and Bitcoin were surging as again. This ruling has been a big deal. If you're

05:06 watching Coinbase, if you're watching some of the other names in the crypto space, some

05:11 of the mining companies is another way to get some exposure to this momentum in the

05:16 space. But Coinbase, the crypto stock for the brokerage side. So Coinbase is one of

05:23 the bellwethers of the crypto space in terms of being able to trade kind of for the crypto

05:29 world on the stock market. Let's say you're not actively trading cryptocurrencies themselves,

05:34 but you want to have some exposure to that sector, to that industry. Coinbase, one of

05:40 the biggest and most recognizable names giving access. And we're seeing like like I mentioned,

05:45 we're seeing a lot of momentum right now coming off of this ruling. It's going to be important

05:49 to be watching this, whether you are in cryptocurrency, whether you're invested in companies like

05:54 Coinbase or Bitcoin mining companies, or if you're just looking and watching the financial

06:00 regulatory environment, 100 percent a story to be watched and multiple stocks to be watched.

06:06 Stock to watch number four, we've got Johnson and Johnson, that's ticker JNJ expecting 2023

06:13 adjusted EPS of ten dollars to ten dollars and ten cents versus previous guidance of

06:19 ten dollars and 70 to ten dollars 80. So a pretty significant reduction in their guidance

06:24 and well below the consensus, the previous consensus of ten dollars and 65 cents and

06:30 also lowering adjusted operational earnings per share of nine dollars and 90 cents to

06:35 ten dollars versus a prior guidance of ten dollars and 60 cents to ten dollars and 70

06:41 cents over Johnson. Johnson recently secured over 13 billion dollars in cash from its Kenview

06:48 debt offering and initial public offering and still maintains almost 10 percent of equity

06:54 stake in Kenview. This is one of its more recent spinoffs. Some interesting combination

07:00 here of a solid amount of cash coming from this, but at the same time reducing their

07:06 expectations pretty substantially, even below consensus that may have been more on the pessimistic

07:12 side. Nothing absolutely crazy here, but definitely a story to be watching today. It's Johnson

07:18 and Johnson, one of the biggest players to be watching across consumer products, even

07:25 in the medical and pharmaceutical space, one of the big companies to be watching here.

07:31 It's going to be interesting to see as well how Kenview does and if Johnson Johnson's

07:37 almost 10 percent stake in it does better as time moves on as well. Stock to watch number

07:42 five, we've got Catalan. Let's take our CTLT. The company shares are trading higher after

07:48 the company issued strong guidance and entered into a cooperation agreement with Elliott

07:53 Investment Management, one of the famous ones. You probably know them if you've been watching

07:59 some of these smaller firms for a while. They reported their quarterly adjusted earnings

08:05 of nine cents per share, missing analyst consensus estimates of 10 cents. So nothing too bad,

08:12 a bit of a 10 percent miss there. Nothing absolutely crazy. But I think this is the

08:17 really interesting thing. This is a 91 percent decrease, almost a 92 percent decrease of

08:25 earnings since a dollar and eight cents per share from the same period last year. That

08:30 is a pretty staggering number for Catalan. I think that's one of the things that people

08:36 are focusing on is compared to last year, some pretty significant downbeat for overall

08:43 EPS, but reporting quarterly sales of over a billion dollars to one point oh seven billion

08:50 dollars, beating analyst consensus estimates of just about one point oh five billion. So

08:55 a very small beat, but still a little bit of a beat. But again, here's the problem.

09:01 Looking back at last year, this is over a 17 percent decrease of sales compared to last

09:06 year for Catalan, which was one point two nine billion in the same period. This is how

09:11 sometimes you'll see these activists, investors coming in. You'll have different investment

09:15 groups, private equity, even sometimes looking at how to turn companies like Catalan around

09:20 issuing their strong guidance is a good idea. And some of these sometimes these cooperation

09:25 agreements will work well and the market will react very favorably. Sometimes they won't,

09:30 but at least for Catalan in this case, markets reacting favorably, even with some downbeat

09:36 numbers, especially compared to last year. Something to definitely take note of when

09:42 you're looking at tickers like this, whether or not they're able to actually grow and continue

09:47 or if they're stagnating or even worse, like in Catalan state, they're decreasing, but

09:52 maybe some hope for them turning around, especially with Elliott investment on their side. All

09:57 right. We're going to go back over our list and get you out to your trading day. Stock

10:02 to watch. Number one was bright scholar education in holdings. That's ticker B.E.D.U. Number

10:09 two, we had the gray scale Bitcoin trust with G.B.T.C. Number three, we had Coinbase Global.

10:14 That's ticker C.O.I.N. Stock to watch number four was Johnson and Johnson with ticker J.N.J.

10:20 And stock to watch number five is Catalan. That's ticker C.T.L.T. Hope everyone has a

10:26 wonderful Wednesday, a great halfway point to your week. A reminder again that next Monday

10:32 is Labor Day. That's going to be a market holiday for the U.S. and we'll catch you tomorrow.

10:37 [END]

First-Ever Spot Bitcoin ETF in The US - $BEDU $GBTC $COIN $JNJ $CTLT

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