Streetbeat News

Equity Actions

AMZN

PLUG

PYPL

QQQ

SPY

TSLA

UBER

The S&P 500, tracked by SPY, hit all-time highs, while the Nasdaq 100, tracked by QQQ, continued its upward trend. Uber and Tesla are partnering to promote EV adoption. Amazon secured sports streaming rights, boosting its Prime Video offerings. Dogecoin's price target is set at $5 by an analyst. Bitcoin faces uncertainty ahead of the halving event. Plug Power's equity offering may not entice investors. PayPal is expected to have a 'transition year' with range-bound stock prices.

Portfolio Pulse from Michael Cohen

January 20, 2024 | 2:26 pm

NXU

Nxu has filed with the SEC for an offering of up to 1 million Class A common shares by a selling stockholder, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 9:09 pm

BMO

COF

FITB

JPM

PLAY

TFC

WFC

Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) has successfully amended its credit agreement, resulting in a reduced interest rate margin on its term and revolving loans by 60 basis points. The amendment could lead to over $5 million in annual cash interest savings. The maturity of the loans remains unchanged. Financial institutions including Deutsche Bank, JPMorgan Chase, Wells Fargo, BMO Capital Markets, Truist Securities, Capital One, and Fifth Third Bank facilitated the transaction.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 9:08 pm

IXAQ

IX Acquisition Corp. has extended the deadline to complete its initial business combination from January 12, 2024, to February 12, 2024. This extension provides the company with an additional month to finalize its business combination plans.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 9:07 pm

DAL

JBLU

SAVE

Dave Portnoy, founder of Barstool Sports, announced a purchase of Spirit Airlines Inc (SAVE) shares after a failed merger with JetBlue (JBLU), leading to a 50% drop in Spirit's stock. Following a further 25% drop after Spirit's debt refinancing announcement, Portnoy declared SAVE a 'mega buy' at around $4 per share. The stock has since rebounded to $7, yielding Portnoy an unrealized gain of $600,000. Portnoy, known for his 'Davey Day Trader' persona, is actively promoting Spirit Airlines, contrasting it with a negative customer experience at Delta Air Lines (DAL).

Portfolio Pulse from Aaron Bry

January 19, 2024 | 8:59 pm

WMT

Walmart Inc. is closing its Store No. 8 innovation unit, which was established to incubate new ideas and help the retailer catch up with Amazon's online business. The closure is part of Walmart's efforts to reduce costs and explore new ways to test technology. Store No. 8 was launched seven years ago following Walmart's acquisition of Jet.com for $3.3 billion, with Jet.com's founder Marc Lore leading Walmart's e-commerce operations.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 8:53 pm

DATS

MARA

NIO

PLUG

UNH

Benzinga's Stock Whisper Index highlights five stocks: UnitedHealth Group (UNH) with mixed analyst reactions post-earnings, Plug Power Inc (PLUG) facing pressure after announcing a $1 billion share offering, Marathon Digital Holdings (MARA) upgraded by BTIG with a new price target, DatChat Inc (DATS) planning a spinoff and suffering from a public offering, and Nio Inc (NIO) affected by Tesla's price cuts and Chinese market developments. The index provides insights into stocks that are gaining interest but are not widely discussed yet.

Portfolio Pulse from Chris Katje

January 19, 2024 | 8:10 pm

Altria Group (NYSE:MO) has seen significant options trading activity, with a bearish sentiment from high-rolling investors. Benzinga's options scanner revealed 8 trades, with a split sentiment of 37% bullish and 62% bearish. The focus is on a price band between $35.0 and $40.0. Altria's current market status shows neutral RSI indicators, a stable stock price at $40.44, and an upcoming earnings announcement in 13 days. The company holds a strong position in the tobacco industry and has interests in Anheuser-Busch InBev, Cronos, and recently acquired Njoy Holdings.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 8:00 pm

PPG

PPG Industries (NYSE:PPG) received mixed analyst ratings over the past three months, with an average 12-month price target of $159.75, up from $157.00. Analysts from Baird, UBS, Wells Fargo, and Keybanc have provided ratings and adjusted price targets, reflecting a positive outlook on PPG's financial performance, which includes strong revenue growth, net margin, ROE, ROA, and a healthy debt-to-equity ratio. PPG is a leading global producer of coatings with a significant market presence.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 8:00 pm

BMY

IKNA

Ikena Oncology Inc (NASDAQ:IKNA) is streamlining its organization to focus on its key oncology clinical programs, IK-930 and IK-595, leading to a 35% workforce reduction. With $175 million in cash, the company's financial runway is extended to the second half of 2026. Wedbush maintains an Outperform rating with a price target of $8, while William Blair also maintains an Outperform rating. Bristol-Myers Squibb (NYSE:BMY) has opted out of developing IK-175 and IK-412, with Ikena regaining full rights but not planning further investment in these programs. IKNA shares dropped 11.6% to $1.45.

Portfolio Pulse from Vandana Singh

January 19, 2024 | 7:55 pm