Streetbeat News

Assets

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares are trading higher amid overall market strength following a drop in Treasury yields due to new U.S. economic data. The drop in Treasury yields is due to a larger-than-expected drop in July job openings data. Tesla shares are moving higher on above-average trading volume, with more than 67.3 million shares traded in the session. Tesla continues to be a popular choice among retail investors, with TSLA being one of the top trending stocks on WallStreetBets.

Portfolio Pulse from Erica Kollmann

August 29, 2023 | 4:37 pm

SNOW

A significant amount of unusual options activity has been observed for Snowflake (NYSE:SNOW), with a bullish stance taken by a majority of investors. Of the 35 unusual trades detected, 54% were bullish and 45% were bearish. The total amount for puts was $664,205 and for calls was $3,374,549. The targeted price range for Snowflake over the last 3 months has been $85.0 to $290.0. The current price of SNOW is up 2.67% at $152.72. Analysts from Piper Sandler, Needham, Barclays, and Rosenblatt have given their ratings and price targets for the stock.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 4:31 pm

ZS

Zscaler (NASDAQ:ZS) has outperformed the market over the past 5 years, producing an average annual return of 26.59%. If an investor had bought $1000 of ZS stock 5 years ago, it would be worth $3,362.94 today. The company currently has a market capitalization of $20.99 billion.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 4:30 pm

GNRC

Generac Hldgs's (NYSE:GNRC) short percent of float has fallen 11.89% since its last report, with 3.90 million shares sold short, which is 7.19% of all regular shares available for trading. It would take traders 1.48 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average for short interest as a percentage of float being 10.82%.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 4:16 pm

BUD

Anheuser-Busch has announced a $22.5 million investment in its Houston brewery, according to Reuters.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 4:06 pm

PLTR

A significant bearish stance has been taken on Palantir Technologies (NYSE:PLTR) by a large investor or institution, as evidenced by unusual options activity. The sentiment among these big-money traders is split, with 43% bullish and 56% bearish. The price range targeted by these investors over the last three months is $13.0 to $35.0. The current price of PLTR is up 6.39% at $15.57. Analysts' ratings vary, with Raymond James and Wedbush maintaining an Outperform rating, while Citigroup and Wolfe Research maintain a Sell and Underperform rating respectively.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 4:01 pm

PGR

Progressive (NYSE:PGR) has outperformed the market over the past 20 years by 2.74% on an annualized basis, producing an average annual return of 10.37%. If an investor had bought $1000 of PGR stock 20 years ago, it would be worth $7,188.44 today.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 4:00 pm

BA

LMT

The U.S. Air Force is testing AI-powered drones, the XQ-58A Valkyrie, which can fly across China, carry missiles, and significantly alter military warfare. The Valkyrie program indicates a shift in the Pentagon's procurement strategy, potentially favoring software-first companies like Shield AI and Anduril over traditional defense contractors like Lockheed Martin and Boeing. The adoption of AI technology could act as a deterrent against potential Chinese aggression.

Portfolio Pulse from AJ Fabino

August 29, 2023 | 3:56 pm

SHOP

A significant amount of unusual options activity has been observed for Shopify (NYSE:SHOP), indicating a bullish stance by a large investor or institution. The sentiment among these big-money traders is split between 54% bullish and 45% bearish. The price target for Shopify over the last 3 months has been between $48.0 to $240.0. The current price of SHOP is up 4.03% at $58.58. Several financial institutions have maintained or downgraded their ratings on Shopify, with price targets ranging from $62 to $80.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:46 pm

COIN

GBTC

The U.S. Securities and Exchange Commission (SEC) is reviewing the court's decision regarding the Grayscale Bitcoin ETF, according to a spokesperson cited by Reuters. The SEC will determine the next steps based on this review.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 3:38 pm