Streetbeat News

Assets

SNOW

A significant bearish stance has been taken on Snowflake (NYSE:SNOW) as evidenced by unusual options activity. The sentiment among big-money traders is split between 41% bullish and 58% bearish. Whales have been targeting a price range from $125.0 to $200.0 for Snowflake over the last 3 months. Barclays, Citigroup, and Mizuho maintain a Buy rating on Snowflake with price targets of $190, $191, and $180 respectively, while Guggenheim downgraded its action to Sell with a price target of $105.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:16 pm

MNOV

Zacks Small-Cap Research has set a $26 price valuation for MediciNova, a biopharmaceutical company. The valuation is highly dependent on the continued clinical success of the company's assets and will be adjusted based on future clinical results.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 2:12 pm

APO

ODFL

YELL

Old Dominion Freight Line Inc (ODFL) has offered $1.5 billion to acquire Yellow Corp’s (YELL) 169 terminals out of bankruptcy, exceeding a previous offer from Estes Express Lines of $1.3 billion. The properties will still undergo a marketing and sale process in which higher offers may be accepted. Yellow’s largest shareholder, MFN Partners LP, and Citadel Credit Master Fund offered to provide $142.5 million to fund Yellow’s liquidation. Citadel recently bought Yellow’s term loan from Apollo Global Management (APO).

Portfolio Pulse from Vandana Singh

August 21, 2023 | 2:09 pm

MU

A significant amount of unusual options activity has been detected for Micron Technology (NASDAQ:MU), with a bearish stance being taken by a 'whale' investor. Of the 17 strange trades detected, 47% were bullish and 52% were bearish. The majority of these trades were puts, totaling $990,392, with calls totaling $299,200. The price target range for Micron Technology over the last 3 months has been between $63.0 and $85.0.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:01 pm

BKNG

A significant amount of unusual options activity has been observed for Booking Holdings (NASDAQ:BKNG), with a majority of investors taking a bearish stance. Whales have been targeting a price range from $2400.0 to $4200.0 for Booking Holdings over the last 3 months. The company's stock is currently up 0.34% at $3068.71, with RSI indicators suggesting it may be approaching overbought. Several financial institutions have maintained positive ratings on Booking Holdings, with price targets ranging from $3325 to $3855.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:01 pm

JNJ

KVUE

Kenvue has an option alert for Sep 15 $25 calls at the ask price of $0.25 for 1000 units, compared to an open interest of 153363. The reference price is $23.24.

Portfolio Pulse from Charles Gross

August 21, 2023 | 1:57 pm

BTCUSD

ETHUSD

OPUSD

RUNEUSD

Bitcoin and Ethereum recorded losses, trading below $26,000 and $1,700 respectively. The global crypto market cap fell to $1.05 trillion, a 24-hour decline of 1.1%. Optimism was the top gainer over the past 24 hours, while THORChain was the biggest loser.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 1:56 pm

MPW

Medical Properties Trust, Inc. (MPW) has updated its capital allocation strategy to strengthen its balance sheet and accelerate deleveraging. The company has reduced its quarterly dividend from $0.29 to $0.15 per share to align with its cash flow profile following asset divestitures. Over the past 18 months, MPW has completed several transactions that have lowered its adjusted funds from operations (AFFO), including partnerships and asset sales. The company plans to continue exploring refinancing, sales, and joint-venture opportunities, reduce costs, and sell certain non-leased and non-real estate assets.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 1:50 pm

PFE

There has been a significant options activity on Pfizer (PFE) with a sweep of 700 calls at a strike price of $37 expiring on September 1. The options were purchased near the ask price of $0.631, compared to an open interest of 3320. The reference price for Pfizer at the time was $36.94.

Portfolio Pulse from Charles Gross

August 21, 2023 | 1:44 pm

GS

Goldman Sachs CEO David Solomon has faced internal opposition and adverse media coverage, but continues to enjoy the confidence of the bank's board members and key shareholders. Despite criticism for the bank's short-lived venture into retail banking, Solomon's proactive approach to engaging investors has been appreciated. Goldman Sachs is also exploring the sale of a part of its wealth business catering to high-net-worth clients. The bank's shares traded lower by 0.12% at $324.53 on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

August 21, 2023 | 1:37 pm