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Assets

GPOR

KeyBanc Capital Markets analyst Tim Rezvan has upgraded Gulfport Energy Corporation (NYSE:GPOR) from Sector Weight to Overweight, with a price target of $145. The company is planning $40 million of land acquisitions in Ohio, which could add 25-30 locations. Gulfport's hedge book, which is 49% hedged for natural gas in 2024, offers strong cash flow visibility. However, Rezvan has lowered FY23 and FY24 EPS estimates for the company.

Portfolio Pulse from Nabaparna Bhattacharya

August 10, 2023 | 6:10 pm

WE

WeWork shares are experiencing volatility and trading higher due to retail investor interest. This comes after the company expressed substantial doubt about its ability to continue operations.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 6:09 pm

BTCUSD

GBTC

Crypto-services provider Matrixport predicts that the U.S. Securities and Exchange Commission (SEC) might approve multiple spot bitcoin exchange-traded funds (ETFs) soon, potentially boosting Bitcoin's value. The SEC is expected to address Grayscale's GBTC lawsuit and the ARK 21Shares Bitcoin ETF reapplication soon, with responses to seven other Bitcoin ETF applications anticipated in early September. Matrixport suggests that a physical Bitcoin ETF might charge a management fee between 0.7% to 1%, potentially generating around $200 million annually for these ETF providers.

Portfolio Pulse from Murtuza Merchant

August 10, 2023 | 6:05 pm

CAT

Caterpillar (NYSE:CAT) has outperformed the market over the past 20 years by 3.08% on an annualized basis, producing an average annual return of 10.79%. If an investor had bought $1000 of CAT stock 20 years ago, it would be worth $7,742.61 today.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 6:00 pm

RMD

ResMed (NYSE:RMD) has outperformed the market over the past 15 years, producing an average annual return of 14.92%. If an investor had bought $1000 of RMD stock 15 years ago, it would be worth $7,953.35 today.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 6:00 pm

ETHUSD

On Wednesday, 4,710.67 Ether (ETH) worth $8,699,005 was burned from Ethereum transactions. This is a result of the Ethereum blockchain's upgrade known as EIP-1159, which changes the fee model and burns a base fee from each transaction. This reduces the supply of Ether. Ethereum is currently issuing new Ether at a rate of 4% per year, but this is expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 6:00 pm

LRCX

A significant amount of unusual options activity has been observed for Lam Research (NASDAQ:LRCX), with a majority of investors taking a bearish stance. The price target for Lam Research, based on volume and open interest, ranges from $390 to $720. The current price of LRCX is $685.38, down by 0.1%. Analysts from Mizuho, Stifel, Wells Fargo, Citigroup, and Morgan Stanley have maintained their ratings on Lam Research, with price targets ranging from $650 to $800.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 5:47 pm

AEO

BJRI

CPRI

CVNA

DKS

FTCH

GM

GRBK

RIVN

TSLA

Benzinga's options activity scanner has identified unusual options activity in the Consumer Discretionary sector. The stocks involved are Farfetch (FTCH), General Motors (GM), Tesla (TSLA), Rivian (RIVN), Dick's Sporting Goods (DKS), Capri Holdings (CPRI), Carvana (CVNA), American Eagle Outfitters (AEO), BJ's Restaurants (BJRI), and Green Brick Partners (GRBK). The options activity ranges from bullish to bearish and neutral sentiments.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 5:35 pm

HD

A significant bearish stance has been taken on Home Depot (NYSE:HD) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 41% bullish and 58% bearish. The whales have been targeting a price range from $305.0 to $360.0 for Home Depot over the last 3 months. The current price of HD is $330.25, up 0.62%. Several research firms have maintained their Buy rating on Home Depot with varying price targets.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 5:31 pm

ILMN

Unusual options activity has been observed for Illumina (NASDAQ:ILMN), with a large position indicating a bullish stance. The overall sentiment of these big-money traders is split between 53% bullish and 46% bearish. The price of ILMN is up 1.59% at $187.42. Analysts from Citigroup, JP Morgan, Credit Suisse, Evercore ISI Group, and Stifel have maintained their ratings on Illumina, with price targets ranging from $150 to $240.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 5:30 pm