Streetbeat News

Equity Actions

NKLA

A significant number of Nikola Corporation put options were traded at the bid price. Specifically, 25,000 contracts for January 19th $2 puts were purchased at $1.29 each, compared to an open interest of 78,302 contracts. This activity occurred with Nikola's stock reference price at $0.7256.

Portfolio Pulse from Charles Gross

December 13, 2023 | 6:31 pm

WW

A significant options trade was detected for WW International, with a sweep of 1087 call options at a strike price of $7 expiring on December 22, priced at $0.5 each. This volume is notably higher than the open interest of 201 for the same option, indicating new positioning. The stock reference price at the time of the trade was $6.9386.

Portfolio Pulse from Charles Gross

December 13, 2023 | 6:29 pm

PNR

KeyBanc analyst Jeffrey Hammond upgraded Pentair Plc (PNR) from Sector Weight to Overweight with a price target of $82, citing underappreciated structural margin enhancements and positive momentum in the Pool business. Despite recent stock price decline, the analyst believes concerns are overdone and anticipates strong performance moving into 2024, supported by self-help tailwinds from strategic pricing, sourcing, and improving mix.

Portfolio Pulse from Shivani Kumaresan

December 13, 2023 | 6:10 pm

CRSP

There has been notable options activity for CRISPR Therapeutics, with sweeps near the ask price for January 19 $65 call options. A total of 252 contracts were traded at $1.75 when the open interest was 7372, with the stock reference price at $58.46. Another sweep of 181 contracts at the same price and open interest occurred simultaneously.

Portfolio Pulse from Charles Gross

December 13, 2023 | 6:10 pm

BDORY

EWZ

ITUB

PBR

SPY

Brazilian equities, particularly the iShares MSCI Brazil ETF (EWZ), outperformed U.S. equities in 2023, with EWZ returning 32.27% compared to the SPDR S&P 500 ETF's (SPY) 23.22%. Stocks like Petroleo Brasileiro SA Petrobras (PBR), Itau Unibanco Holding SA ADR (ITUB), and Banco do Brasil SA BB Brasil (BDORY) have significantly contributed to this outperformance, with year-to-date gains of 59%, 53%, and over 75% respectively.

Portfolio Pulse from Surbhi Jain

December 13, 2023 | 5:53 pm

ACU

Acme United Corporation (NYSE:ACU) has announced an increase in its quarterly cash dividend from $0.14 to $0.15 per share, marking the fourteenth increase since 2004. The dividend is scheduled to be paid on January 26, 2024, to shareholders of record as of January 5, 2024. Chairman and CEO Walter C. Johnsen expressed optimism about the company's future and a commitment to delivering shareholder returns.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 5:46 pm

APO

FTCH

Farfetch, a British luxury fashion site listed on the NYSE, is in discussions with Apollo Global Management and other parties to secure emergency funding. The company is struggling financially and may need up to $500m. Farfetch's market value has plummeted from $23bn to $221m since its 2018 IPO. Richemont, a backer, has refused to invest more, and Farfetch has delayed its quarterly results announcement. The company is also considering selling subsidiaries and is unlikely to complete its planned acquisition of a stake in Yoox Net-a-Porter.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 5:44 pm

BX

Blackstone (NYSE:BX) has seen a decrease in short interest, with the short percent of float falling 6.52% since the last report. The company has 29.50 million shares sold short, representing 4.16% of available shares. The average time to cover these short positions is 10.96 days. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price. Blackstone's short interest is higher than its peer group average of 2.99%.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 5:30 pm

CMCSA

Comcast Corporation (NYSE:CMCSA) has experienced a 10.71% increase in short interest since its last report, with 49.31 million shares sold short, representing 1.24% of its float. It would take about 3.38 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, Comcast has a lower short interest as a percentage of float, with the peer group average at 13.16%.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 5:30 pm

GLASF

Glass House Brands (OTC:GLASF) completed a $15 million Series D preferred stock offering, including $4.1 million in new capital. The funds will accelerate the retrofitting of Greenhouse 5 at SoCal Farm and strengthen the company's financial position. Investors receive a 15% annual cash dividend for the first five years, increasing to 20% thereafter, and 200 warrants per $1,000 share. Insiders participated in the offering, subscribing to 70 shares and receiving 14,000 warrants. CEO Kyle Kazan highlighted the company's strong cash flow and the expected benefits from the retrofit, with planting in Q1 2024 and sales by Q2 2024. The proceeds will also go towards Greenhouse 1 nursery expansion, working capital, and general corporate purposes. GLASF's stock was up 1.74% at $4.69 at the time of reporting.

Portfolio Pulse from Patricio Liddle

December 13, 2023 | 5:15 pm