Streetbeat News

Assets

BEKE

Shares of KE Holdings Inc (NYSE:BEKE) are trading lower due to concerns over China's property sector, following reports that China Evergrande is unable to issue new debt due to an investigation into its subsidiary. KE Holdings, an online real estate services provider, could see reduced transaction volumes and revenues due to a slowdown in the property market. Evergrande's recent announcement of cancelling a creditor meeting and lower than expected sales have further fueled concerns.

Portfolio Pulse from Henry Khederian

September 26, 2023 | 7:19 pm

TCOM

Shares of Trip.com Group Ltd (NASDAQ:TCOM) are trading lower amid concerns over China's property sector, particularly the ongoing issues with China Evergrande. The property sector's instability can impact the broader economy, potentially leading to reduced consumer spending and decreased consumer confidence, which could negatively affect Trip.com's travel and tourism business.

Portfolio Pulse from Henry Khederian

September 26, 2023 | 7:18 pm

TGT

Target Corporation (TGT) has announced the closure of nine stores across the US due to increasing levels of theft and organized retail crime. The stores are located in New York City, Seattle, San Francisco, and Portland. The company has been vocal about the issue of organized retail crime, which has led to higher shrink levels, impacting profitability. The closures are set to take place on October 21, 2023. The company also expressed support for the Combating Organized Retail Crime Act, which proposes stricter penalties for theft offenses.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 7:08 pm

PDD

PDD Holdings Inc's shares are trading lower due to concerns over China's property sector, particularly the issues surrounding China Evergrande. The potential economic slowdown in China could decrease consumer spending, negatively impacting PDD's e-commerce platform. Additionally, disruptions in supply chains and logistics could increase operational challenges for PDD.

Portfolio Pulse from Henry Khederian

September 26, 2023 | 7:04 pm

SPY

Net worth of individuals has increased since the COVID-19 pandemic, largely due to stock market gains and property value increases. The top 1% saw the highest net worth increase of 22%. Household wealth hit record highs of $154.28 trillion last quarter, driven by a stock market rally and rebounding property values. The SPDR S&P 500 ETF Trust (NYSE:SPY) was up more than 12% since the start of the year, but has trended lower in recent months.

Portfolio Pulse from Adam Eckert

September 26, 2023 | 7:01 pm

DIA

IWM

QQQ

SPY

Major indexes are down due to a rise in Treasury yields and market concerns following US economic data. New home sales fell in August and consumer confidence was below estimates.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 6:48 pm

HD

A significant investor has taken a bearish stance on Home Depot (NYSE:HD), with 63% of the investors opening trades with bearish expectations. The whales have been targeting a price range from $290.0 to $375.0 for Home Depot over the last 3 months. Evercore ISI Group maintains an Outperform rating on Home Depot with a price target of $370, while Stifel and HSBC have downgraded their actions to Hold with price targets of $350 and $365 respectively.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 6:46 pm

BA

A large investor has taken a bearish stance on Boeing (NYSE:BA), as indicated by a significant position in options. The sentiment among these big-money traders is split, with 31% bullish and 68% bearish. The whales have been targeting a price range from $150.0 to $280.0 for Boeing over the last 3 months. Currently, the price of BA is down -1.43% at $195.94. Citigroup, Susquehanna, and TD Cowen have maintained their ratings on Boeing with price targets of $285, $270, and $260 respectively.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 6:31 pm

ETHUSD

On Monday, 2,720.56 Ether (ETH) worth $4,315,113 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -0.66%.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 6:00 pm

ADBE

Unusual options activity has been observed for Adobe (NASDAQ:ADBE), with a split sentiment of 50% bullish and 50% bearish among big-money traders. The total amount for puts is $570,330, and for calls is $1,267,490. The targeted price range for Adobe over the last 3 months is from $340.0 to $575.0. Adobe's stock price is currently down by 1.58% at $503.54. Several financial institutions have maintained their ratings on Adobe, with price targets ranging from $620 to $650.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 5:45 pm