Streetbeat News

Equity Actions

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher by roughly 2.6% to $9.61. The company will report its Q3 results on November 8. The stock may be volatile due to recent momentum in anticipation of the debut of the Taylor Swift Eras Tour concert film. The company's 2023 decline is primarily attributed to a strategic move made by the company in August, which involved implementing a 10-to-1 reverse stock split. The company's AMC Preferred Equity Units were converted into common stock.

Portfolio Pulse from Henry Khederian

October 20, 2023 | 2:12 pm

DIS

A significant bearish stance has been taken on Walt Disney (NYSE:DIS) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 40% bullish and 60% bearish. The whales have been targeting a price range from $50.0 to $90.0 for Walt Disney over the last 3 months. Meanwhile, JP Morgan maintains an Overweight rating on Disney with a price target of $120, while Seaport Global and Bernstein have downgraded their actions with price targets of $93 and $103 respectively.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 2:02 pm

CAT

A significant investor has taken a bearish stance on Caterpillar (NYSE:CAT), with 60% of recent trades being bearish and 40% bullish. The total amount for puts is $385,884 and for calls is $120,496. Whales have been targeting a price range from $120.0 to $420.0 for Caterpillar over the last 3 months. The current price of CAT is down -0.25% at $250.96. JP Morgan maintains their Overweight rating on Caterpillar with a price target of $320.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 2:02 pm

BKNG

A significant investor has taken a bearish stance on Booking Holdings (NASDAQ:BKNG), with 78% of detected trades showing bearish expectations. The whales have been targeting a price range from $2680.0 to $3100.0 for Booking Holdings over the last 3 months. DA Davidson maintains a Neutral rating on Booking Holdings with a price target of $3400, while Argus Research downgraded its action to Buy with a price target of $3677.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 2:02 pm

BABA

BIDU

BYDDF

TCEHY

XIACF

This week's top China tech stories include EHang Holdings Ltd. partnering with local government Hefei to build flying cars, AI start-up Baichuan receiving $300 million in funding from investors including Alibaba, Tencent, and Xiaomi, Baidu's Ernie chatbot advancing in AI terms, Chongqing Changan Automobile Co. Ltd. investing in a new-energy vehicle manufacturing plant in Thailand, and J&T Global Express Ltd. raising $501 million for a listing on the Hong Kong Stock Exchange.

Portfolio Pulse from Daniel Harrison

October 20, 2023 | 1:58 pm

META

SPY

The article discusses the impact of former President Donald Trump's criticism of Meta Platforms (formerly Facebook) on its stock performance. It highlights that if an investor had invested $1,000 in Meta Platforms on September 27, 2017, when Trump first criticized the company, the investment would be worth $1,886.55 today, representing a gain of 88.7% over the last six years. This outperformed the SPDR S&P 500 ETF Trust, which would have grown by 70.8% over the same period.

Portfolio Pulse from Chris Katje

October 20, 2023 | 1:51 pm

PYPL

PayPal Holdings (NASDAQ:PYPL) has seen unusual options activity, with a significant bearish stance taken by a 'whale' investor. Of the 11 strange trades detected, 63% were bearish and 36% bullish. The total amount for puts was $894,392 and for calls was $479,025. The price range targeted over the last 3 months was $51.0 to $110.0. The current price of PYPL is down -1.5% at $53.99. Analysts from Oppenheimer, TD Cowen, Truist Securities, Jefferies, and Piper Sandler have maintained their ratings on PayPal, with price targets ranging from $60 to $72.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 1:46 pm

AXP

SEDG

XRTX

US stocks traded lower with the Dow Jones index falling around 50 points. American Express Co reported better-than-expected earnings for Q3 with a YoY revenue growth of 12% to $15.38 billion. XORTX Therapeutics, Lipella Pharmaceuticals, and Urgent.ly saw significant stock increases, while SolarEdge Technologies, Adial Pharmaceuticals, and Webuy Global experienced notable drops. SolarEdge issued preliminary Q3 revenue results below estimates and lowered its non-GAAP gross margin guidance. Adial announced a $4 million private placement priced at-the-market under Nasdaq rules. Webuy Global priced a $15.2 million IPO of 3.8 million ordinary shares at $4 per share.

Portfolio Pulse from Lisa Levin

October 20, 2023 | 1:43 pm

BCDA

BioCardia has filed for a mixed shelf offering of up to $50 million, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 1:31 pm

SSNLF

WDC

Kioxia Holdings Corp is seeking capital infusion from Japan Investment Corp to support its merger with Western Digital Corp (NASDAQ:WDC). The financial details of the capital infusion are undisclosed. The merger aims to create a holding company for NAND flash memory chips production. The deal faced opposition from SK Hynix Inc, a competitor and indirect shareholder in Kioxia. The combined market share of Kioxia and Western Digital for NAND memories is 35.4%.

Portfolio Pulse from Anusuya Lahiri

October 20, 2023 | 1:09 pm