Streetbeat News

Assets

USO

The American Petroleum Institute (API) reported a weekly crude oil stock draw of 5.521 million barrels, which is significantly higher than the estimated draw of 1.429 million barrels.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:36 pm

BKCC

TCPC

BlackRock TCP Capital Corp. and BlackRock Capital Investment Corporation have announced a merger agreement. The combined company will have total assets of approximately $2.4 billion.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:29 pm

TCNNF

Kim Rivers, CEO of Trulieve Cannabis Corp (OTCQX:TCNNF), expressed optimism about the potential federal rescheduling of cannabis, which would remove it from the federal prohibited list. This change would significantly impact the cannabis industry, particularly in terms of tax implications. Trulieve has paid over $220 million in 280E-related taxes in the last 24 months. The rescheduling could provide relief from this burden, enabling further investment in growth opportunities. Rivers also emphasized the need for Congress to push forward with the SAFE Banking Act.

Portfolio Pulse from Joana Scopel

September 06, 2023 | 8:27 pm

HCI

HCI Group anticipates that the pre-tax gross loss from Hurricane Idalia will be within reinsurance retention limits for both Homeowners Choice Property & Casualty Insurance Company and TypTap Insurance Company.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:24 pm

DELL

A significant bearish stance has been taken on Dell Technologies (NYSE:DELL) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 33% bullish and 66% bearish. The price range targeted by these investors for Dell Technologies over the last 3 months is from $20.0 to $80.0. The current price of DELL is up 3.48% at $70.47. Several financial institutions have maintained their ratings on Dell, with price targets ranging from $53 to $70.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 8:16 pm

GME

GameStop reported that its cash, cash equivalents, and marketable securities were $1.195 billion at the end of the quarter.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:06 pm

CRGY

Crescent Energy is set to acquire an incremental working interest in its operated Western Eagle Ford assets for a total consideration of $250M in cash. This follows a recent $600M acquisition of operatorship of the same position that closed in July 2023. The transaction is expected to be immediately accretive to operating cash flow, free cash flow, and net asset value.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:04 pm

ALGN

Align Technology, Inc. (NASDAQ:ALGN) has announced its plans to acquire Cubicure GmbH, a pioneer in direct 3D printing solutions. The acquisition is expected to strengthen Align's digital platform and its capabilities in direct 3D printing. The purchase price for the transaction will be approximately €79 million and the acquisition is expected to close in Q4 2023 or early 2024.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 8:02 pm

SPOT

A significant bearish stance has been taken on Spotify Technology (NYSE:SPOT) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $55.0 to $180.0 for Spotify over the last 3 months. Truist Securities maintains their Buy rating on Spotify, with a price target of $176.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 8:01 pm

BKNG

A significant bearish stance has been taken on Booking Holdings (NASDAQ:BKNG) by a large investor, as observed in the 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 $2900.0 to $3800.0 for Booking Holdings over the last 3 months. Tigress Financial maintains a Strong Buy rating on Booking Holdings with a price target of $3855, while Morgan Stanley maintains an Equal-Weight rating with a price target of $3000.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 8:00 pm