Streetbeat News

Assets

AU

BHP

DRD

GFI

HL

HMY

SBSW

WPM

Precious metals stocks are trading higher due to a rise in gold prices, which gained amid a drop in Treasury yields. Stocks mentioned include AU, BHP, DRD, GFI, HL, HMY, SBSW, WPM.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 5:20 pm

FTTUSD

Sam Bankman-Fried, founder of the defunct cryptocurrency exchange FTX, is facing difficulties preparing for his upcoming fraud trial due to poor prison conditions. His attorney highlighted inadequate food and lack of medication as significant impediments. Bankman-Fried is facing at least seven criminal charges, including conspiracy and fraud allegations linked to FTX's bankruptcy. The collapse of FTX, due to mismanagement of funds and lack of liquidity, caused significant upheaval in the cryptocurrency sector.

Portfolio Pulse from Murtuza Merchant

August 23, 2023 | 5:19 pm

PBR

Brazil's Attorney General's office has supported Petrobras in its bid to explore a promising offshore oil region in the Amazon, stating that a major impact study demanded by the Ibama environmental agency is not necessary. The case has been sent to a mediation chamber to start a reconciliation process between the federal agencies involved.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 5:04 pm

OLN

Ammunition manufacturer Olin Corp (NYSE:OLN) has agreed to acquire White Flyer Targets, LLC, a maker of recreational trap, skeet, and sporting clay targets. The acquisition will be funded with cash on hand and is expected to be immediately accretive to Olin's shareholders. The transaction is expected to be completed in Q4 2023.

Portfolio Pulse from Shivani Kumaresan

August 23, 2023 | 4:56 pm

CSCO

A significant amount of unusual options activity has been observed for Cisco Systems (NASDAQ:CSCO), with a majority of investors taking a bullish stance. Whales have been targeting a price range from $55.0 to $70.0 for Cisco Systems over the last 3 months. The current price of CSCO is up 0.62% at $55.8. Analysts from Citigroup, Deutsche Bank, Oppenheimer, Rosenblatt, and Piper Sandler have maintained their ratings on Cisco Systems, with price targets ranging from $53 to $59.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 4:48 pm

WMT

A significant investor has taken a bearish stance on Walmart (NYSE:WMT), with 66% of the detected trades being bearish and 33% bullish. The trades include 4 puts amounting to $254,965 and 8 calls amounting to $566,099. The targeted price range for Walmart over the last 3 months has been $80.0 to $160.0. The current price of WMT is $157.55, up 0.34%. Several financial institutions have maintained or upgraded their ratings on Walmart, with price targets ranging from $167 to $210.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 4:33 pm

MMM

A significant investor has taken a bullish stance on 3M (NYSE:MMM), with unusual options activity detected. The trades are evenly split between bullish and bearish expectations. Whales have been targeting a price range from $65.0 to $130.0 for 3M over the last 3 months. The price of MMM is up 0.15% at $98.66, with RSI indicators suggesting the stock may be oversold. Morgan Stanley, Citigroup, and RBC Capital have maintained their Underweight, Neutral, and Underperform ratings on 3M, respectively.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 4:16 pm

PTON

An option alert has been issued for Peloton Interactive with Sep 1 $5.5 calls sweep near the ask: 3379 @ $0.26 vs 5 open interest. The company's earnings are due on 8/23 before the market opens.

Portfolio Pulse from Charles Gross

August 23, 2023 | 4:05 pm

BA

A significant bearish stance on Boeing (NYSE:BA) has been observed through unusual options activity. The sentiment among big-money traders is split between 27% bullish and 72% bearish. The whales have been targeting a price range from $155.0 to $260.0 for Boeing over the last 3 months. The price of BA is currently down -0.21% at $229.59.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 4:03 pm

VLO

A significant investor has taken a bullish stance on Valero Energy (NYSE:VLO), with 80% of the investors opening trades with bullish expectations and 20% with bearish. The whales have been targeting a price range from $95.0 to $140.0 for Valero Energy over the last 3 months. The price of VLO is down -1.6% at $128.79. Barclays, Tudor Pickering, B of A Securities, Mizuho, and Wells Fargo have maintained their ratings on Valero Energy with price targets ranging from $135 to $162.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 3:48 pm