Streetbeat News

Assets

BIG

Traders are circulating rumors of a 27% short interest in Big Lots, which is causing an increase in trading volume for the company's shares.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:48 am

SPY

The Kansas City Federal Reserve Bank has appointed Jeffrey Schmid, a former banking executive, as its new President and CEO. Schmid has over four decades of experience in the financial sector, including running three different financial institutions and a stint as a bank examiner.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:48 am

INTU

A significant bearish stance has been taken on Intuit (NASDAQ:INTU) by a large investor or institution, as evidenced by unusual options activity. The sentiment among these big-money traders is split between 29% bullish and 70% bearish. The whales have been targeting a price range from $380.0 to $540.0 for Intuit over the last 3 months. Currently, INTU's price is down -2.42% at $496.21. Exane BNP Paribas upgraded its action to Neutral with a price target of $532, while Keybanc maintained their Overweight rating with a price target of $525.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:47 am

AMZN

CAT

GOOG

MDB

MNDY

MSFT

Ivan Feinseth, Chief Investment Officer at Tigress Financial Partners, predicts that AI will play a significant role across diverse sectors, not just in tech. Tech leaders like Microsoft, Alphabet, and Amazon will spearhead AI developments, but sectors like farming and infrastructure will also join the revolution. Feinseth also sees potential for AI in the pharmaceutical industry and in traditionally non-tech companies like Caterpillar and Deere. He also mentioned Ingersoll Rand, Mongodb, and Monday.com as potential AI beneficiaries.

Portfolio Pulse from AJ Fabino

August 04, 2023 | 11:45 am

ABBV

A significant bearish stance has been taken on AbbVie (NYSE:ABBV) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is 11% bullish and 88% bearish. The whales have been targeting a price range from $110.0 to $160.0 for AbbVie over the last 3 months. The price of ABBV is currently up 1.21% at $150.33, and RSI indicators suggest the stock may be approaching overbought territory.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:44 am

VMC

Vulcan Materials's (NYSE:VMC) short percent of float has risen 3.36% since its last report, with 1.45 million shares sold short, which is 1.23% of all regular shares available for trading. It would take traders 1.74 days to cover their short positions on average. The company has less short interest than most of its peers, with the average for its peer group being 1.68%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:43 am

AXP

American Express's (NYSE:AXP) short percent of float has fallen 4.31% since its last report, with 6.49 million shares sold short, which is 1.11% of all regular shares available for trading. It would take traders 2.94 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 8.64%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:43 am

ADMP

CMBM

DRVN

IDAI

VRT

WAVD

U.S. stocks were lower with the Nasdaq Composite falling over 250 points. U.S. crude oil inventories fell by 17.049 million barrels, the biggest decline since 1982. WaveDancer, T Stamp, and Vertiv Holdings shares rose due to a government contract, a patent, and upbeat quarterly results respectively. Adamis Pharmaceuticals, Cambium Networks, and Driven Brands shares fell due to public offering pricing, worse-than-expected Q2 results, and poor FY23 guidance respectively.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 11:39 am

AAPL

ADP

AMD

AMZN

BTCUSD

GLD

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

USO

Fitch has downgraded the U.S. credit rating from AAA to AA+ due to anticipated fiscal deterioration, high and growing government debt burden, and erosion of governance. Despite this, the U.S. stock market has not been significantly impacted, with the 'momo crowd' buying the dip. The U.S. Treasury Department plans to borrow about $1T in Q3, the largest amount ever for a third quarter. ADP data shows strong job growth, contradicting narratives of a potential Fed rate cut. Money is flowing out of Apple, Nvidia, Alphabet, Amazon, and Tesla, but into Microsoft and Meta. AMD's AI products may dilute its margins. Gold, oil, and Bitcoin are seeing buying activity.

Portfolio Pulse from The Arora Report

August 04, 2023 | 11:37 am

SPR

Spirit Aero's CEO has reported that the company has incurred impacts of nearly $200M over the last 18 months due to supply chain distress. The ongoing challenges in the supply chain have destabilized their production lines.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:35 am