Streetbeat News

Equity Actions

AAPL

AMD

CFLT

CLSK

CRM

NVDA

SEDG

SMCI

TXN

Benzinga's options activity scanner has detected unusual options activity in the Information Technology sector. The stocks involved are AAPL, AMD, CFLT, NVDA, SEDG, CRM, ON, TXN, CLSK, and SMCI. The options activity ranges from bearish to bullish and neutral sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 5:35 pm

CROX

Raymond James analyst Rick B. Patel upgraded Crocs Inc (NASDAQ:CROX) from Market Perform to Outperform and set a price target of $110. The analyst believes the stock is oversold and sees a favorable risk/reward ratio due to a highly discounted P/E and EV/EBITDA. Despite recent challenges, Crocs maintains strong operating margins and the brand remains strong. The company's strong free cash flow enables accretive buybacks and debt paydown.

Portfolio Pulse from Shivani Kumaresan

October 20, 2023 | 5:07 pm

CME

UTEN

Bank of America analysts predict the Federal Reserve will resume interest rate hikes in December 2023, backed by strong economic indicators. The bank also expects the first rate cut to occur in June 2024, with quarterly reductions of 25 basis points in the policy rate. The 10-year Treasury, as tracked by the US 10-Year Treasury Note ETF (NYSE:UTEN), is anticipated to yield 3.80% in March 2024 and 3.50% by December 2024.

Portfolio Pulse from Piero Cingari

October 20, 2023 | 4:04 pm

INTU

The article provides a detailed comparison of Intuit (NASDAQ:INTU) with its competitors in the software industry. It evaluates Intuit's financial metrics, market position, and growth potential. The analysis reveals that Intuit's P/E and P/B ratios are lower than the industry average, suggesting potential undervaluation. However, its P/S ratio is higher, indicating potential overvaluation based on sales performance. The company's ROE and EBITDA are lower than the industry average, suggesting potential inefficiency and financial challenges. However, Intuit's gross profit and revenue growth are higher than the industry average, indicating strong profitability and growth.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 4:03 pm

GILD

The article provides a comparative analysis of Gilead Sciences (NASDAQ:GILD) and its competitors in the Biotechnology industry. The analysis reveals that Gilead Sciences may be undervalued as it has low PE, PB, and PS ratios compared to its peers. However, the company has high ROE, EBITDA, gross profit, and revenue growth, indicating strong financial performance and potential for future growth.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 4:02 pm

ECL

Ecolab Inc.'s (NYSE:ECL) share price is currently at $160.86, after a 0.32% increase. Over the past month, the stock decreased by 6.97%, but in the past year, it increased by 7.78%. Ecolab's P/E ratio of 39.01 is higher than the Chemicals industry average of 33.87, suggesting that the stock may be overvalued. However, the P/E ratio should not be used in isolation for investment decisions, as other factors can also impact a company's stock price.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 3:49 pm

RIVN

Rivian (NASDAQ:RIVN) has announced the opening of its newest spaces location at Ponce City Market, showcasing progress on its future Georgia manufacturing facility. The facility, to be built at the Stanton Springs North site, will have an annual capacity of 400,000 units when fully complete. Site preparations are nearly complete, with a formal groundbreaking ceremony expected in early 2024. The company has also opened an office in Covington, Georgia, and continues to grow its local presence.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 3:29 pm

BABA

BIDU

MSFT

TCEHY

XIACF

XIACY

Alibaba Group Holding Ltd and Tencent Holdings Ltd, along with other investors including Ant Group Co and Xiaomi Corp, have invested $342 million in AI startup Beijing Zhipu Huazhang Technology Co. The investment comes as the US intensifies its advanced AI technology sanctions against China. Zhipu aims to rival Microsoft Corp's OpenAI's ChatGPT. Baidu Inc's founder Robin Li also highlighted its large language model Ernie, reaching OpenAI's GPT-4 levels.

Portfolio Pulse from Anusuya Lahiri

October 20, 2023 | 2:55 pm

ARQT

Arcutis Biotherapeutics has announced the pricing of a $100 million public offering of 32.5 million common shares at $2.50 per share. Following the announcement, the company's shares are trading lower.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 2:55 pm

BTDR

Crypto mining firm Bitdeer Technologies Group (NASDAQ:BTDR) has announced a new share repurchase initiative worth around $2 million. The company intends to finance these repurchases using its existing cash reserves. The move is aimed at stabilizing its share price and optimizing long-term returns for its shareholders.

Portfolio Pulse from Murtuza Merchant

October 20, 2023 | 2:52 pm