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MCHP

A significant bearish stance has been taken on Microchip Technology (NASDAQ:MCHP) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $67.5 to $100.0 for Microchip Technology over the last 3 months. The price of MCHP is currently down -2.51% at $74.12. Susquehanna and Morgan Stanley have maintained their positive and overweight ratings on Microchip Technology, with price targets of $95 and $96 respectively.

Portfolio Pulse from Benzinga Insights

October 25, 2023 | 3:31 pm

BA

EADSY

Boeing's CEO has expressed confidence in competing with Airbus for the next U.S. Air Force tanker contract. This was revealed during an investor call.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 3:30 pm

PFE

A significant amount of unusual options activity has been observed for Pfizer (NYSE:PFE), with a majority of investors taking a bullish stance. The targeted price range for Pfizer over the last 3 months has been $27.5 to $35.0. The current price of PFE is $30.45, up 0.08%. Analysts from Truist Securities, JP Morgan, Wells Fargo, and Citigroup maintain their ratings on Pfizer, while Cantor Fitzgerald downgraded its action to Overweight with a price target of $75.

Portfolio Pulse from Benzinga Insights

October 25, 2023 | 3:16 pm

ALKS

TEVA

Alkermes PLC reported Q3 FY23 adjusted EPS of $0.64, beating the consensus of $0.43, and revenues of $380.9 million, up from $252.4 million a year ago. The company is on track to separate its oncology business into a new company, Mural Oncology plc, in November 2023. Alkermes also reaffirmed its FY23 outlook for revenue at $1.55 billion - $1.68 billion and adjusted EPS of $1.34 – $1.57. However, ALKS shares are trading lower by 8.06%.

Portfolio Pulse from Lekha Gupta

October 25, 2023 | 3:09 pm

SONN

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) shares are trading lower by 27.6% after the company announced the pricing of a public offering involving 2,843,750 shares of common stock or pre-funded warrants, along with investor warrants allowing the purchase of up to 5,687,500 shares of common stock. The combined offering price is $1.60 per share, totaling approximately $4.55 million in gross proceeds before expenses. The funds raised will be utilized for research and development, including clinical trials, as well as general corporate purposes.

Portfolio Pulse from Henry Khederian

October 25, 2023 | 3:00 pm

SONN

Sonnet BioTherapeutics has announced the pricing of a $4.55 million underwritten public offering, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:59 pm

IDYA

IDEAYA Biosciences Inc (NASDAQ:IDYA) shares fell by 11.6% after the company priced an underwritten public offering of common stock and pre-funded warrants. The company is selling 5 million shares at $23.50 per share, along with pre-funded warrants to purchase 319,150 shares at $23.4999 per warrant. The total gross proceeds are estimated to be about $125,000,000. The offering is expected to close on October 27, 2023. J.P. Morgan, Goldman Sachs & Co. LLC, Jefferies, and RBC Capital Markets are the joint book-running managers for the offering.

Portfolio Pulse from Henry Khederian

October 25, 2023 | 2:44 pm

ATEC

Alphatec Holdings Inc (NASDAQ:ATEC) shares dropped by 18.4% after the company announced the pricing of a public offering of 14.3 million common stock shares at $10.50 per share. The offering is set to close on October 27. The joint book-running managers for the offering are Morgan Stanley, TD Cowen, Barclays, and Stifel. Alphatec anticipates gross proceeds of around $150 million, excluding the underwriters' option.

Portfolio Pulse from Henry Khederian

October 25, 2023 | 2:40 pm

GBX

Greenbrier Companies Inc's (GBX) shares fell by 16% after the company reported Q4 FY23 results. Despite revenues rising to $1.017 billion and securing orders for 15,300 new railcars, the company's adjusted EPS of $0.92 missed the consensus of $1.00. The company repurchased 0.2 million shares for around $8 million in Q4 and has $46 million worth of shares remaining under the current share repurchase program. For FY24, GBX expects revenue of $3.40 billion – $3.70 billion, lower than the consensus of $3.72 billion.

Portfolio Pulse from Lekha Gupta

October 25, 2023 | 2:38 pm

RUN

Muddy Waters has announced that it is shorting Sunrun (RUN) due to its belief that the company is significantly inflating its subscriber numbers. Sunrun reported approximately 725K subscribers in Q2, but data provided to the U.S. Energy Information Agency shows only around 600K subscribers.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:09 pm