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Equity Actions

PHIO

Phio Pharmaceuticals Corp's stock plummeted by 40% after the company announced the exercise of warrants for $2.8 million in gross proceeds at a reduced price of $1.33 per share. The warrants were originally issued at higher prices between 2018 and 2023. The funds raised are before fees and expenses, and the shares are from previously registered offerings under Form S-1 and Form S-3. PHIO's 52-week trading range is between $0.88 and $12.27.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 7:25 pm

ARKF

ARKK

ARKW

PLTR

Stephen Cohen, co-founder and president of Palantir Technologies Inc (NYSE:PLTR), sold a significant amount of his shares, causing a 3% drop in pre-market trading. He sold 500,000 shares on 12/01/23 and 156,100 shares on 12/04/23 for around $19-$20 each, totaling nearly $13 million. In contrast, Cathie Wood's Ark Investment Management purchased 1,578,738 Palantir shares for $27.04 million across three of its ETFs: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). Despite a recent decline in Palantir's stock value, Ark's investment aligns with its focus on disruptive technologies. Palantir stock closed 6.4% lower at $17.13 on Wednesday and was up 0.05% by noon on Thursday.

Portfolio Pulse from Surbhi Jain

December 07, 2023 | 7:20 pm

DGX

Universal DX has completed an initial closing of its Series B financing round, raising approximately $70 million. Among the investors is Quest Diagnostics, a company known for providing diagnostic information services. The funds will be used to advance Universal DX's colorectal cancer screening blood test, which will be brought to patients and providers in the United States through a strategic collaboration with Quest Diagnostics.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 6:57 pm

QGEN

Goldman Sachs has upgraded Qiagen NV (NYSE:QGEN) from Neutral to Buy, citing its steady income from selling sample preparation tools and diagnostics, defensive growth potential, and favorable valuation compared to the sector. Qiagen's business is considered resilient, even in times of reduced spending on big equipment, and is trading at a significant discount to the sector despite high single-digit to low double-digit core organic growth over the past year. The company's end market exposure and defensive nature are seen as advantages in the current uncertain environment, particularly in Pharma R&D and Capex spending. QGEN shares saw a 0.95% increase to $41.84.

Portfolio Pulse from Vandana Singh

December 07, 2023 | 6:39 pm

AAPL

AMZN

FXY

GLD

GOOG

JPM

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

The Bank of Japan's (BOJ) potential shift away from yield control is causing significant movement in the yen and impacting global stock markets, including the U.S. The yen's rise is affecting strategies that involve borrowing in yen to invest in U.S. markets. JPMorgan Chase CEO Jamie Dimon expressed a desire to shut down cryptocurrencies if possible. U.S. jobless claims came in slightly below consensus, which may influence the Fed's rate decisions. European GDP contraction supports the expectation of rate cuts. Positive early money flows are seen in major tech stocks, while mixed flows are observed in SPY and QQQ ETFs. Gold and oil are seeing buying interest due to the yen's move. Bitcoin experiences a pullback after recent retail investor enthusiasm. The Arora Report advises investors to maintain a protection band strategy to balance risk and opportunity.

Portfolio Pulse from The Arora Report

December 07, 2023 | 6:00 pm

AAPL

AMZN

BRK-A

BRK-B

TSLA

Charlie Munger, the late vice chairman of Berkshire Hathaway, learned from the See's Candies acquisition that paying full price for a beloved brand can be a bargain. This shaped his and Warren Buffett's investment strategy, focusing on companies with fair prices and loyal customers. They initially passed on Amazon and Tesla, considering them too risky despite admiring their founders. However, they later invested in Apple, which became a significant part of Berkshire's portfolio. Munger passed away at 99, leaving behind a legacy of value investing.

Portfolio Pulse from Adam Eckert

December 07, 2023 | 5:49 pm

ABNB

AMZN

BABA

LEN

LULU

MCD

NIO

TSLA

WYNN

ZUMZ

Today's whale activity in the consumer discretionary sector shows significant options trading, with bullish, bearish, and neutral sentiments across various stocks. Notable trades include bullish call options for TSLA, AMZN, WYNN, and LEN, bearish call options for NIO, bearish put options for MCD, ZUMZ, ABNB, and BABA, and neutral call options for LULU. The trades involve varying expiration dates, strike prices, and total trade prices, indicating diverse expectations from the whales.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:35 pm

STM

STMicroelectronics (NYSE:STM) has seen a 17.07% increase in short interest since its last report, with 4.33 million shares sold short, representing 0.48% of available shares. The average time to cover these short positions is 1.14 days. While an increase in short interest can indicate bearish sentiment, STM's short interest is below its peer group average of 3.77%. This information suggests investor caution but does not necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:30 pm

GRMN

GSAT

SIRI

SPCE

UFO

The Procure Space ETF (UFO) remains steady as the space sector's significance is highlighted ahead of the 2024 U.S. election. The ETF, which has risen over 8% since October 23, includes key holdings such as Virgin Galactic (SPCE), Garmin (GRMN), Sirius XM (SIRI), and Globestar (GSAT). The space sector's role in various industries like healthcare and agriculture is expected to be a focal point in the election. UFO's chart shows a bullish trend with potential resistance and support levels identified.

Portfolio Pulse from Melanie Schaffer

December 07, 2023 | 5:27 pm

CHTR

Charter Communications (NASDAQ:CHTR) has seen an equal mix of bullish and bearish options trading, with 4 puts and 4 calls observed. The trades suggest a price range of $360 to $390 for CHTR. Significant options trades include both bullish and bearish sentiments with varying strike prices and expiration dates. The company, a result of a 2016 merger, serves 30 million residential and 2 million commercial accounts. CHTR's current market status shows a trading volume of 350,824 with a stable price of $361.98 and an RSI indicating it may be approaching oversold. An earnings announcement is expected in 50 days. Analysts have set an average target price of $490, with Benchmark maintaining a Buy rating.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:16 pm