Streetbeat News

Assets

AXP

A significant amount of unusual options activity has been detected for American Express (NYSE:AXP), with a majority of investors taking a bearish stance. The trades range from $150.0 to $195.0. The current price of AXP is $177.11, with a volume of 3,892,832. Several experts have downgraded their ratings on American Express, with price targets ranging from $146 to $193.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 8:45 pm

HMN

Horace Mann Educators Corporation (HMN) expects Q2 2023 core EPS to be between $0.01 and $0.03 due to strong performance of its Worksite and Life & Retirement businesses offsetting the impact of increased weather activity. Catastrophe losses are expected to be between $41M and $43M, pre-tax. The company's longer-term outlook remains largely unchanged due to the accelerating impact of P&C rate actions and the growing significance of its new Worksite business. Full-year 2023 EPS guidance now reflects an increase in the full-year catastrophe loss estimate to $95M to $100M.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 8:41 pm

GS

RITM

Rithm Capital Corp. (RITM) has acquired $1.4bn of prime unsecured consumer loans from The Goldman Sachs Group, Inc. (GS). The loans were originated and serviced by Goldman Sachs through the Marcus program. The acquisition allows Rithm Capital to add discounted, short duration and high yielding prime credit consumer assets.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 8:39 pm

MRVL

A large investor has taken a bullish stance on Marvell Tech (NASDAQ:MRVL), with 23 uncommon options trades spotted, split between 56% bullish and 43% bearish. The whales have been targeting a price range from $25.0 to $70.0 for Marvell Tech over the last 3 months. The price of MRVL is currently down -3.67% at $63.22. Several experts have maintained their positive ratings on Marvell Tech, with price targets ranging from $65 to $80.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 8:31 pm

EL

A significant amount of unusual options activity has been detected for Estee Lauder Cos (NYSE:EL), with a bearish stance being taken by a majority of investors. Of the 11 strange trades detected, 54% were bearish and 45% were bullish. The total amount for the 8 puts was $816,566 and for the 3 calls was $163,703. Whales have been targeting a price range from $130.0 to $195.0 for Estee Lauder Cos over the last 3 months. The price of EL is currently down -4.56% at $182.26.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 8:30 pm

VWE

Vintage Wine Estates, Inc. (NASDAQ:VWE) has announced the appointment of Seth Kaufman as President and CEO, succeeding Interim CEO, Jon Moramarco. Kaufman, who has been President & CEO of Moët Hennessy North America for the last four years, is expected to begin his position at VWE no later than October 30, 2023. The company believes Kaufman's experience will help drive stronger earnings and cash flow, focus resources on key brands for growth, and strengthen operating processes.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 8:29 pm

A

Agilent Technologies's (NYSE:A) short percent of float has risen 10.69% since its last report, with 4.60 million shares sold short, which is 1.76% of all regular shares available for trading. It would take traders 2.06 days to cover their short positions on average. The company's short interest is less than its peer group average of 4.99%.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 8:00 pm

CVNA

Carvana (CVNA) has seen a sweep of 127 calls at $2.04 for July 28 with a strike price of $54, compared to an open interest of 375. The reference price is $46.725.

Portfolio Pulse from Charles Gross

July 20, 2023 | 7:59 pm

TFC

A significant amount of unusual options activity has been detected for Truist Financial Corporation (NYSE:TFC), with a notably bearish stance. Of the 16 strange trades detected, 37% were bullish and 62% were bearish. The trades included 4 puts amounting to $230,653 and 12 calls amounting to $400,055. The price target range for Truist Financial over the last 3 months has been $25.0 to $45.0. The stock price is currently down by 6.91% at $33.13. Analysts from Morgan Stanley, Citigroup, Raymond James, and Jefferies have provided varied ratings and price targets.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 7:46 pm

MRK

A large bearish position has been taken on Merck & Co (NYSE:MRK), with 12 uncommon options trades spotted. The sentiment of these big-money traders is split between 41% bullish and 58% bearish. Whales have been targeting a price range from $45.0 to $130.0 for Merck & Co over the last 3 months. Truist Securities maintains a Buy rating on Merck & Co with a price target of $116, while HSBC and Morgan Stanley have downgraded their actions with price targets of $123 and $109 respectively.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 7:46 pm