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FCX

A significant bearish stance has been taken on Freeport-McMoRan (NYSE:FCX) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 40% bullish and 60% bearish. The whales have been targeting a price range from $30.0 to $45.0 for Freeport-McMoRan over the last 3 months. Morgan Stanley has maintained their Equal-Weight rating on Freeport-McMoRan, with a price target of $44.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 8:15 pm

HMST

HomeStreet, Inc. (NASDAQ:HMST) has responded to Blue Lion Capital's proposal to sell its FNMA Delegated Underwriter and Servicer business (DUS Business) and related loan servicing portfolio. Blue Lion Capital estimated the value of the DUS Business between $100 million and $150 million. However, HomeStreet received an unsolicited non-binding written proposal to purchase the DUS Business for $57 million, which the company deemed inadequate.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 7:59 pm

AMT

A significant bullish stance has been taken on American Tower (NYSE:AMT) by a large investor or institution, as evidenced by a large position showing up on publicly available options history. The overall sentiment of these big-money traders is split between 61% bullish and 38% bearish. Whales have been targeting a price range from $130.0 to $180.0 for American Tower over the last 3 months. The price of AMT is currently down -1.2% at $167.29. Morgan Stanley has maintained their Equal-Weight rating on American Tower, with a price target of $212.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 7:45 pm

BHP

A significant bearish stance has been taken on BHP Group (NYSE:BHP) as evidenced by unusual options activity. The sentiment among big-money traders is 90% bearish, with 9 puts and 1 call spotted. The targeted price range for BHP Group over the last 3 months is from $35.0 to $55.0. The current price of BHP is up 2.57% at $57.1.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 7:30 pm

BTCUSD

Caitlin Long, CEO of Custodia Bank, compared the current state of the cryptocurrency industry to the tech stock bubble of 1999, stating that 99% of the industry needs to 'burn to the ground'. She criticized the regulatory approach in the US, suggesting that it has been too harsh and has stifled innovation. She also expressed concern about the high levels of leverage in the industry.

Portfolio Pulse from Jose Rodrigo Safdiye

September 22, 2023 | 7:16 pm

JPM

A significant bearish stance has been taken on JPMorgan Chase (NYSE:JPM) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 44% bullish and 55% bearish. The whales have been targeting a price range from $135.0 to $160.0 for JPMorgan Chase over the last 3 months. The price of JPM is currently down -0.95% at $145.74. RBC Capital and HSBC have downgraded their actions on JPMorgan Chase, while Morgan Stanley maintains their Overweight rating.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 7:00 pm

BAC

Unusual options activity has been observed for Bank of America (NYSE:BAC), with a large position indicating a bullish stance. The options scanner at Benzinga spotted 48 uncommon trades, with a sentiment split of 66% bullish and 33% bearish. The whales have been targeting a price range from $20.0 to $40.0 for Bank of America over the last 3 months. HSBC, Piper Sandler, and RBC Capital have given their expert opinions on the bank's stock.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 6:45 pm

LEN

Lennar Corporation (NYSE:LEN) has seen unusual options activity, with a significant number of investors taking a bearish stance. Of the 21 strange trades detected, 52% were bearish and 47% bullish. The total amount for puts was $607,471 and for calls, $294,607. Whales have been targeting a price range from $110.0 to $120.0 for Lennar over the last 3 months. The current price of LEN is $113.0, down -0.12%. Analysts from BTIG, UBS, JP Morgan, Citigroup, and RBC Capital have maintained their ratings on Lennar.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 6:45 pm

H

Stifel analyst Simon Yarmak reiterated a Hold rating on Hyatt Hotels Corporation (NYSE:H), lowering the price target to $115 from $119. Hyatt has transformed into an asset-lite company and aims to reduce owned and leased real estate to 20% by late 2024. The company has multiple growth levers with a quality portfolio of brands and the largest relative pipeline. Group revenue for Q2 rose by around 14% YoY, aligning closely with 2Q19 figures. However, net debt to EV of 19.8% is slightly above the industry average of 19.2%. The analyst also lowered the EPS estimates for FY23, FY24, and FY25.

Portfolio Pulse from Nabaparna Bhattacharya

September 22, 2023 | 6:39 pm

ETHUSD

A total of 4,098.33 Ether (ETH) worth $6,509,827 was burned from Ethereum transactions on Thursday. This follows the Ethereum blockchain's implementation of an upgrade known as EIP-1159 in August 2021, which changed the fee model and resulted in the burning of the base fee for each transaction. The net annualized issuance rate for Ether was -3.07% yesterday. 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.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 6:00 pm