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Equity Actions

YMAB

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) has appointed Michael Rossi as its new President and CEO, effective from November 6, 2023. Rossi brings over 30 years of experience in the radiopharmaceutical industry, having held leadership roles at Advanced Accellerators Applications, Jubilant Radiopharm, GE Healthcare, and Mirion Technologies. Thomas Gad, the founder of Y-mAbs, will assume the roles of Vice Chairman of the Board of Directors and Chief Business Officer.

Portfolio Pulse from Happy Mohamed

October 18, 2023 | 8:06 pm

TENKU

TenX Keane Acquisition (NASDAQ:TENKU) has extended the deadline for its initial business combination from October 18, 2023, to January 18, 2024. To facilitate this, the company has deposited $660,000 into its trust account, representing $0.10 per public share. The payment was made by 10XYZ Holdings LP, the company's sponsor.

Portfolio Pulse from Happy Mohamed

October 18, 2023 | 8:03 pm

A significant bullish stance has been taken on Dominion Energy (NYSE:D) by a large investor or institution, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 69% bullish and 30% bearish. The whales have been targeting a price range from $32.5 to $42.5 for Dominion Energy over the last 3 months. BMO Capital and JP Morgan have maintained their ratings on Dominion Energy with a price target of $49, while Scotiabank downgraded its action to Sector Perform with a price target of $46.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 7:46 pm

CCL

Carnival Corp (NYSE:CCL) shares are trading lower by 5.9% despite no company-specific news. The stock is down due to weakness in major indexes, rising Treasury yields, weakness in Morgan Stanley following its Q3 earnings, and softer-than-expected housing start data. The Israel-Hamas conflict has also caused travel uncertainty and U.S. airlines suspending flights to Israel, impacting the travel industry, including cruise stocks.

Portfolio Pulse from Henry Khederian

October 18, 2023 | 7:40 pm

CHPT

ChargePoint Holdings Inc's (NYSE:CHPT) shares hit a new all-time low, falling by 11% to $3.24, despite no company-specific news. The stock's decline may be due to broader weakness in the EV sector and a rise in Treasury yields. The company's stock has seen a 40% decline in the past month, largely due to commitments from institutional investors for their $300 million convertible notes. The company also plans to modify the terms of their notes with the lead investor, which could be seen as a sign of financial stress.

Portfolio Pulse from Henry Khederian

October 18, 2023 | 7:26 pm

CRLBF

FFNTF

GTBIF

MRMD

Pablo Zuanic, managing partner and senior analyst at Zuanic & Associates, has analyzed the capital expenditure (capex) strategies of 20 prominent cannabis Multi-State Operators (MSOs). Amid high interest rates and regulatory uncertainties, most companies are prioritizing cost reduction and cash flow management. However, Zuanic suggests that some MSOs with the resources should increase capex for profitable growth. Green Thumb (OTC:GTBIF) leads the way with a capex-to-sales ratio of 26% in 1H23, well above the group average of 6%. Other high capex players include MariMed (OTC:MRMD), 4Front (OTC:FFNTF), and Cresco (OTC:CRLBF).

Portfolio Pulse from Nicolás Jose Rodriguez

October 18, 2023 | 7:16 pm

ARDX

BAER

ICU

NUZE

NVVE

SPR

US stocks traded lower with the S&P 500 falling more than 1% on Wednesday. Energy shares climbed by 0.9% while materials shares fell by 2.1%. Crude oil inventories in the US declined by 4.491 million barrels. Spirit AeroSystems shares shot up 24% after an agreement with Boeing. Ardelyx shares rose 13% after FDA approval of XPHOZAH. SeaStar Medical shares gained 54% after FDA granted Breakthrough Device Designation for hepatorenal syndrome. Nuvve Holding shares dropped 42% after pricing of $1 million underwritten public offering. NuZee shares were down 44% after pricing its $1.275 million underwritten public offering. Bridger Aerospace shares fell 29% after announcing a $70 million proposed public follow-on offering.

Portfolio Pulse from Lisa Levin

October 18, 2023 | 7:02 pm

GOOGL

A significant bearish stance on Alphabet (NASDAQ:GOOGL) has been observed through unusual options activity. The sentiment among these big-money traders is split between 42% bullish and 57% bearish. The whales have been targeting a price range from $100.0 to $260.0 for Alphabet over the last 3 months. The price of GOOGL is currently down -0.8% at $138.6. Keybanc, Wells Fargo, Piper Sandler, and B of A Securities have maintained their ratings on Alphabet.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 6:46 pm

PSX

A significant bullish stance has been taken on Phillips 66 (NYSE:PSX) as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 57% bullish and 42% bearish. The whales have been targeting a price range from $105.0 to $140.0 for Phillips 66 over the last 3 months. The price of PSX is up 2.34% at $116.58. Mizuho, Piper Sandler, and Raymond James have maintained their ratings on Phillips 66 with price targets of $116, $134, and $128/$133 respectively.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 6:31 pm

SPY

USO

The U.S. plans to provide some oil-related sanctions relief for Venezuela in response to Tuesday's election deal between the Venezuelan government and opposition, according to a senior State Department official.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 6:05 pm