Streetbeat News

Equity Actions

ORCL

A significant bearish stance has been taken on Oracle (NYSE:ORCL) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 38% bullish and 61% bearish. The significant investors are aiming for a price territory stretching from $80.0 to $150.0 for Oracle over the recent three months. Evercore ISI Group has upgraded its rating to Outperform with a revised price target of $135, while Morgan Stanley maintains their Equal-Weight rating with a price target of $107.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 8:31 pm

AURA

Aura Biosciences Inc (NASDAQ:AURA) shares dropped by 34.7% after the company announced the pricing of its public offering of common stock. The company is offering 11 million shares at $9.00 per share, aiming to raise $99.0 million. The offering may be expanded by an additional 1.65 million shares. The offering is expected to close around November 9.

Portfolio Pulse from Henry Khederian

November 07, 2023 | 8:17 pm

AFT

AIF

APO

Apollo Global Management (APO) has announced a special cash payment of $0.25 per share to each Apollo Senior Floating Rate Fund (AFT) and Apollo Tactical Income Fund (AIF) shareholder of record as of the closing date of the applicable transaction.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 8:13 pm

AFT

AIF

MFIC

MidCap Financial Investment Corporation (MFIC), Apollo Senior Floating Rate Fund Inc. (AFT) and Apollo Tactical Income Fund Inc. (AIF) have announced merger agreements. The combined company will have approximately $3.4 billion of total investments and $1.4 billion of net assets. The merger is expected to provide financial and strategic benefits to all shareholders, creating a larger, more scaled business development company focused on middle market direct lending. Post-merger shareholder ownership is estimated to be 69% for current MFIC shareholders, 16% for current AFT shareholders, and 15% for current AIF shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 8:10 pm

AAPL

GOOG

GOOGL

MSFT

OpenAI, backed by Microsoft Corp (NASDAQ:MSFT), is reportedly paying its engineers an average of $925,000 per year, outpacing salaries at tech giants like Apple Inc (NASDAQ:AAPL) and Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL). The high salaries are driven by the growing demand for AI roles. OpenAI's valuation has also been increasing, recently reaching close to $80 billion.

Portfolio Pulse from Adam Eckert

November 07, 2023 | 7:55 pm

DMLP

Dorchester Minerals, L.P. has leased 243 net acres in Reagan County, Texas for $30,000 per acre and a 25% royalty. It also amended an existing lease on two separate tracts of land in the same county for $18,750 per acre. The total payment of approximately $11.8 million will be included in the Partnership's fourth quarter distribution to unitholders.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 7:23 pm

SAN

Banco Santander Inc. (NYSE:SAN) shares are currently trading at $3.72, after a 1.33% drop. Over the past month, the stock fell by 1.06%, but over the past year, it increased by 43.30%. The company's price-to-earnings (P/E) ratio is lower than the aggregate P/E of the Banks industry, indicating that the stock might be undervalued.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 7:15 pm

AMAT

A financial giant has made a bullish move on Applied Mat (NASDAQ:AMAT), with 54% of traders showing bullish tendencies and 45% bearish. The significant investors are aiming for a price territory of $100.0 to $165.0 for Applied Mat over the next three months. The trading volume stands at 2,431,459, with AMAT's price down -0.28%, positioned at $139.97. Needham has elevated its stance to Buy, setting a new price target at $180.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 7:00 pm

MCD

A significant bullish stance has been taken on McDonald's (NYSE:MCD) by a large investor or institution, as indicated by a large position in the company's options. The sentiment among these big-money traders is split 50% bullish and 50% bearish. The options trades include 2 puts totaling $162,725 and 14 calls totaling $870,515. The targeted price range for McDonald's over the last 3 months is from $145.0 to $275.0. Analysts have mixed views on McDonald's, with some lowering their ratings and others maintaining an Outperform rating.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 6:37 pm

BOWL

Bowlero Corp's shares surged by 12% following its Q1 FY24 results. Despite sales and same-store revenue declining, the company reported a net income of $18.2 million, compared to a loss of $33.5 million last year. The company also repurchased 12.1 million shares and reiterated its FY24 revenue outlook. Bowlero plans to reinvest heavily in the business, with significant funds allocated for acquisitions, new builds, and conversions. Last month, the company completed a $432.9 million sale-leaseback transaction.

Portfolio Pulse from Lekha Gupta

November 07, 2023 | 6:21 pm