CFB West rankings: USC on top as Oregon, BYU climb

Agree Realty Slides After Pricing Public Offering

Agree Realty Corp. (ADC) are down more than 5 percent on Thursday morning trade after the announced the pricing of its public offering at $66.85 per share. The offering is expected to close on or about October 3.

Currently, shares are at $65.30, down 5.25 percent from the previous close of $68.92 on a volume of 1,391,025.

Altus Power Stock Down 25% After Secondary Offering Priced At $11.50/shr

Shares of Altus Power, Inc. (AMPS) are slipping nearly 25% on Thursday morning after the company priced a secondary offertin at $11.50 per share.

AMPS is currently trading at $10.70, down $3.52 or 24.77%, on the NYSE, on a volume of 2.7 million, above average volume of 0.7 million. The stock opened its trading at $11.50 after closing Wednesday’s trading at $14.23. The stock has traded between $4.26 and $14.72 in the 52-week period.

Altus Power, a developer, owner and operator of commercial-scale solar facilities, announced that a secondary offering of its Class A common stock by a selling stockholder affiliated with Blackstone was priced at $11.50 per share for 7 million shares. The offering is expected to close on or about October 3, 2022.

Altus Power will not receive any proceeds from the sale of shares of its Class A common stock by Blackstone.

Avenue Therapeutics Shares Maintain Upward Trend

Shares of specialty pharmaceutical company Avenue Therapeutics, Inc. (ATXI) are rising 3 percent on Thursday’s trading continuing their upward trend since the past few days.

The stock has been on the rise since it recently received the official meeting minutes from the FDA regarding a meeting conducted for IV Tramadol in combination with other opioid analgesics to manage moderate-to-moderately severe pain.

Currently at $6.66, the stock has traded between $3.00 and $27.75 during the past 52 weeks.

General Motors Slides 5%

General Motors Co. (GM) shares are tumbling more than 5 percent on Thursday morning trade, in tandem with the general market trend on the day and continuing a downtrend.

Currently, shares are at $33.19, down 5.82 percent from the previous close of $35.25 on a volume of 6,308,244.

Google Shutting Down Video Game Service Stadia, Conceding It Missed Expectations

After a three-year struggle, Google has decided to wind down the operations of Stadia, its video game streaming service.

The consumer gaming outlet launched in the fall of 2019 amid fanfare, but its VP and GM, Phil Harrison, conceded in a blog post that “it hasn’t gained the traction with users that we expected.”

Many Stadia workers will be reassigned to roles elsewhere at Google, according to the blog post.

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Coinbase Global Slips 8%

Shares of cryptocurrency company Coinbase Global, Inc. (COIN) are down 8 percent on Thursday’s trading. The stock was negatively impacted by news of analysts Wells Fargo recommending to sell the stock as rising competition and macro pressures will hurt the stock.

Currently at $61.20, the stock has traded between $40.83 and $368.90 during the past 52 weeks.

Chimera Investment Stock Down 13%

Shares of Chimera Investment Corporation (CIM) are slipping over 13% on Thursday morning despite no stock-related news to hurt the shares.

CIM is currently trading at $5.05, down $0.81 or 13.74%, on the NYSE. The stock had opened its trading at $5.77 after closing Wednesday’s trading at $5.86. The stock has traded between $5.05 and $16.85 in the past 52-week period.

Chimera Investment operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities.

Crude Oil Prices Settle Lower After Yesterday’s Spike

After moving sharply higher in the previous session, the price of crude oil fluctuated over the course of the trading day on Thursday before closing in negative territory.

Crude for November delivery slid $0.92 or 1.1 percent $81.23 a barrel after spiking $3.65 or 4.7 percent to $82.15 a barrel on Wednesday.

Concerns about the outlook for energy demand contributed to the pullback by oil prices amid ongoing worries about a potential global recession.

However, a report from Reuters indicating the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are considering reducing output at a meeting next week helped limit the downside.

One OPEC source told Reuters a cut was “likely,” while two other OPEC+ sources said key members had spoken about the reducing output.

CFB West rankings: USC on top as Oregon, BYU climb

Each week, the Hotline ranks the best major college football teams across the western third of the country — not only the Pac-12 but the Mountain West and Independents — using a formula that’s partly results-oriented and partly subjective.

We will publish a similar ranking once the basketball season begins, incorporating the top teams from the West Coast Conference, Big West, Big Sky and Western Athletic, as well.

Here’s our assessment through the results of Week Four …

(All times Pacific)

1. USC (4-0/2-0 Pac-12)

Last week: 1
Result: won at Oregon State 17-14
Next up: vs. Arizona State (7:30 p.m. on ESPN)
Line: USC -26.5
Comment: The Trojans have a 34 percent chance of winning the Pac-12 and a 21 percent chance of making the College Football Playoff, according to the website fivethirtyeight.com. That delta seems about right.

2. Utah (3-1/1-0 Pac-12)

Last week: 3
Result: won at Arizona State 34-13
Next up: vs. Oregon State (11 a.m. on Pac-12 Networks)
Line: Utah -10.5
Comment: The Utes haven’t lost to a conference opponent in 340 days, since they had no answers for the Beavers’ running game.

3. Oregon (3-1/ 1-0 Pac-12)

Last week: 5
Result: won at Washington State 44-41
Next up: vs. Stanford (8 p.m. on FS1)
Line: Oregon -17
Comment: The Ducks have been quite good on third down — at least on offense (conversion rate: 48 percent). Their defense has struggled getting off the field, however (opponent conversion rate: 54 percent).

4. Brigham Young (3-1)

Last week: 6
Result: beat Wyoming 38-24
Next up: vs. Utah State (Thursday, 5 p.m on ESPN)
Line: BYU -24.5
Comment: Slow start against Wyoming was entirely predictable given the magnitude and physicality of the previous two games (Baylor and Oregon).

5. Washington (4-0/1-0 Pac-12)

Last week: 4
Result: beat Stanford 40-22
Next up: at UCLA (Friday, 7:30 p.m. on ESPN)
Line: Washington -2.5
Comment: The line movement for Friday night has been interesting to watch, with the Huskies favored by 3.5 at one point earlier in the week. Our guess: It bounces back to -3 just before kickoff.

6. Washington State (3-1/0-1 Pac-12)

Last week: 2
Result: lost to Oregon 44-41
Next up: vs. Cal (2:30 p.m. on Pac-12 Networks)
Line: WSU -4
Comment: Yes, this is a steep drop down the BOTW rankings. Then again, that was a major collapse.

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7. Oregon State (3-1/0-1 Pac-12)

Last week: 7
Result: lost to USC 17-14
Next up: at Utah (11 a.m. on Pac-12 Networks)
Line: Oregon State +10.5
Comment: The Beavers are halfway to bowl eligibility and have Stanford, Colorado and Arizona State left on the schedule. In other words: No reason to fret.

8. Fresno State (1-2)

Last week: 8
Result: idle
Next up: at Connecticut (12:30 p.m. on CBS Sports Network)
Line: Fresno State -23.5
Comment: UConn’s only victory is over Central Connecticut, an FCS team. The Bulldogs should be insulted by that point spread, even with the cross-country travel and the injury to Jake Haener.

9. UCLA (4-0/1-0 Pac-12)

Last week: 9
Result: won at Colorado 45-17
Next up: vs. Washington (Friday, 7:30 p.m. on ESPN)
Line: UCLA +2.5
Comment: UCLA’s strength-of-schedule is No. 162 nationally in the Sagarin Ratings. Of note: There are only 131 FBS teams.

10. Air Force (3-1/1-1 Mountain West)

Last week: NR
Result: beat Nevada 48-20
Next up: vs. Navy (9 a.m. on CBS)
Line: Air Force -14
Comment: We considered Wyoming for this spot given its head-to-head win over the Falcons. But it was a narrow victory, in Laramie, and we like the rest of Air Force’s resume a bit better.

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