Hawaiian Electric, MSG Entertainment, WeWork: Trending stocks

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The S&P 500 (^GSPC) ticks down this morning, signaling another losing week for stocks amid elevated inflation and the Fed's ongoing interest rate cycle debate. Utility company Hawaiian Electric (HE) receives a stock upgrade from Wells Fargo analysts amid a class-action lawsuit over the fires that devastated Maui. Madison Square Garden Entertainment (MSGE) shares rise this morning despite reporting declining revenue in its fourth quarter. WeWork (WE) announces a 1-for-40 reverse stock split after reporting its struggles to stay in business last week. Yahoo Finance Live analyzes several trending stocks after this morning's opening bell.

Video TranscriptLet's take a look at how stocks are moving right now. Taking a look first and foremost at the S&P 500, you've got a solid look at some declines right there. It's down by about 0.5%. After a long week of data and earnings, we had retail sales post a major surge for the month of July, driven by an Amazon Prime Day perhaps that fueled a boost in e-commerce sales.

We also had the Fed minutes driving yields higher this week, as fears of sticky inflation raised investors alarm bells about the possibility of further rate hikes.Whew, A lot to consider. Let's take a look at individual names as well. We are watching Hawaiian Electric. That stock is seeing a bit of a bounce. That's after an upgrade from Wells Fargo to equal weight from underweight and this comes after the utility company said in a regulatory filing that it does not plan to restructure.

Now this comes after the company warned last week it has substantial doubts that it can survive as is. It listed that in its risk factors and that its survival hinges on a return to profitability over the next 12 months.

 

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