Streetbeat News

Assets

JPM

A significant amount of unusual options activity has been detected for JPMorgan Chase (NYSE:JPM), with a bearish stance being taken by a whale investor. Of the 27 strange trades detected, 48% were bullish and 51% were bearish. The trades included 6 puts amounting to $283,857 and 21 calls amounting to $1,568,550. The price target for JPMorgan Chase over the last 3 months has been between $100.0 to $175.0. The stock is currently down by 0.47% at $144.93. Morgan Stanley and Citigroup have downgraded their actions to Overweight and Buy respectively, with price targets of $160 and $165.

Portfolio Pulse from Benzinga Insights

July 05, 2023 | 5:16 pm

SQ

A significant bearish stance has been taken on Block (NYSE:SQ) as indicated by unusual options activity. Benzinga's options scanner spotted 24 uncommon options trades for Block, with sentiment split between 41% bullish and 58% bearish. The whales have been targeting a price range from $55.0 to $130.0 for Block over the last 3 months. The price of SQ is currently up 3.95% at $68.81.

Portfolio Pulse from Benzinga Insights

July 05, 2023 | 5:16 pm

USDCUSD

USDTUSD

Hong Kong government is considering launching its own stablecoin, the HKDG, backed by its foreign exchange reserves. This move is seen as a way to compete with existing stablecoins like Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC). The proposal suggests that a government-backed HKDG stablecoin would offer greater credibility and lower risk than USDT and USDC. The experts believe it could also provide additional liquidity for government investment projects, facilitate the digitization of traditional assets, promote financial innovation and competitiveness, and increase transparency.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 4:55 pm

USO

Kuwait's Oil Minister has stated that the country is not requesting an increase in its OPEC+ quota. By the end of 2024, Kuwait's oil output capacity is expected to reach 3.2 million barrels per day.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 4:49 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares are climbing on Wednesday, continuing the stock's recent upward trend. The stock has gained more than 15% in the past five trading sessions and more than 20% in the past 30 days. This is potentially due to strong delivery numbers reported by electric vehicle makers, which could be a positive catalyst for clean energy names including Plug Power. PLUG has considerable short interest with 19.39% of available shares currently being sold short and has garnered attention from retail investors on social media.

Portfolio Pulse from Erica Kollmann

July 05, 2023 | 4:44 pm

BLK

BTCUSD

The correlation between Bitcoin's price and the U.S. stock markets, specifically the Nasdaq and S&P 500, has dropped to nearly zero, the lowest in two years, according to Block Scholes. This suggests that crypto traders relying solely on traditional market sentiment might be surprised. The recent filings for spot Bitcoin ETFs by BlackRock, Fidelity, WisdomTree, VanEck, Invesco, and others have brought optimism to the crypto market. Since BlackRock's filing on June 15, Bitcoin has seen a 25% return, unaffected by the stagnant U.S. stock indices.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 4:41 pm

ALLR

AMRX

AXTI

CCCC

EFSH

IMPL

U.S. stocks traded lower with the Dow Jones dropping over 50 points. Communication services shares jumped by 1.4% while materials shares fell by 2.1%. U.S. factory orders rose 0.3% month-over-month for May. C4 Therapeutics, Impel Pharmaceuticals, and Allarity Therapeutics saw their shares rise after positive news, while 1847 Holdings, Amneal Pharmaceuticals, and AXT, Inc. saw their shares drop. Oil traded up 2.9% to $71.82.

Portfolio Pulse from Lisa Levin

July 05, 2023 | 4:41 pm

BTCUSD

Analysts at Bitfinex suggest that Bitcoin (BTC) may be on the verge of a new bull run. The report indicates that Bitcoin's Spent Output Profit Ratio (SOPR) and Net Unrealized Profit and Loss (NUPL) indicators have turned green, suggesting profitable transactions since Bitcoin breached the $29,500 mark. The report also notes a significant increase in Bitcoin miners sending their coins to exchanges, a trend typically observed either during a bear market capitulation or at the onset of a bull market.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 4:28 pm

TEVA

Teva Pharmaceutical Industries Ltd. is considering the sale of its active pharmaceutical ingredients unit, which could be worth around $2 billion, according to Bloomberg News.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 4:23 pm

MAR

Marriott Intl Inc. (NASDAQ:MAR) has seen its shares rise by 11.71% over the past three months. The company's total debt stands at $10.66 billion, with $10.30 billion in long-term debt and $358.00 million in current debt. After adjusting for $554.00 million in cash-equivalents, the net debt is $10.10 billion. The company's debt-ratio is 0.43, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 05, 2023 | 4:17 pm