Streetbeat News

Equity Actions

WFC

A significant amount of bearish options activity has been observed for Wells Fargo (NYSE:WFC), with 86% of investors opening trades with bearish expectations. The total amount for puts is $1,686,541 and for calls is $536,216. Whales have been targeting a price range from $30.0 to $50.0 for Wells Fargo over the last 3 months. BMO Capital maintains a Market Perform rating on Wells Fargo with a price target of $54, while Deutsche Bank downgraded its action to Buy with a price target of $44.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 5:30 pm

RTX

Unusual options activity has been observed for Raytheon Technologies Corporation (RTX), with a significant bullish stance taken by a large investor. The overall sentiment of these big-money traders is split between 76% bullish and 23% bearish. The price of RTX is currently down -0.26% at $73.79. Several financial institutions have given their ratings and price targets for RTX, with most maintaining an Equal-Weight rating and price targets ranging from $78 to $83.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 5:02 pm

CHEK

Symetryx is seeking to change the board of Check-Cap Ltd, stating that it is open to discussing alternatives with the management and other shareholders of Check-Cap. Symetryx believes that their proposed directors will be able to reduce Check-Cap's burn rate.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 4:59 pm

XOM

Exxon Mobil Corp (XOM) is expected to make a final investment decision on Guyana's Whiptail oil project by the first quarter of 2024, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 4:47 pm

EPAC

Enerpac Tool Group Corp's shares are trading higher by around 12% after the company reported Q4 FY23 results and issued FY24 guidance. The company reported a 6% Y/Y increase in revenue from continuing operations, a 31% Y/Y rise in adjusted EBITDA, and an EPS of $0.42, higher than the previous year's $0.35. The company also repurchased about 1.4 million shares of its common stock in Q4 FY23. For FY24, EPAC expects net sales of $590 million-$605 million, adjusted EBITDA within $142 million-$152 million, and FCF of $60 million-$70 million.

Portfolio Pulse from Lekha Gupta

October 17, 2023 | 4:44 pm

VFC

VF Corp's shares are trading higher following a presentation by activist investor Engaged Capital, which highlighted potential value creation opportunities for the company.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 4:27 pm

LIVE

LL

Bleecker Street Research has issued a report on LL Flooring Holdings (LL) and Live Ventures (LIVE), stating that the unsolicited offer by LIVE to acquire LL should be treated as 'dead on arrival'. LIVE, with a market cap of just over $80 million, offered to acquire LL for an all-cash price of $194.4 million, a 106% premium over LL's current equity valuation. The report highlights several issues, including LIVE's ongoing legal issues with the SEC, its lack of sufficient cash or credit facilities to complete the offer, and LL's deteriorating financial situation. Bleecker Street Capital is short shares of LL Flooring.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 4:15 pm

CSX

The article provides a detailed comparison of CSX Corporation (NASDAQ:CSX) with its competitors in the Road & Rail industry. CSX shows potential for growth with a lower than average P/E ratio, P/B ratio, and P/S ratio. The company also exhibits efficient use of equity with a ROE of 8.1% and has a higher EBITDA, indicating strong profitability. However, it has a lower gross profit, suggesting potential cost management issues. CSX's revenue growth outperforms the industry average.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 4:00 pm

BKR

A comprehensive industry comparison has been conducted, evaluating Baker Hughes (NASDAQ:BKR) in comparison to its major competitors within the Energy Equipment & Services industry. The analysis shows that Baker Hughes has a low PE ratio, indicating that its stock price is relatively low compared to its earnings. The low PB ratio suggests that the company's stock is undervalued based on its book value. Similarly, the low PS ratio indicates that the stock is trading at a lower price compared to its sales. On the other hand, Baker Hughes has high ROE, EBITDA, gross profit, and revenue growth, indicating strong financial performance compared to its peers in the industry.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 4:00 pm

STRM

Streamline Health Solutions Inc (STRM) shares are trading higher by 16% after the company announced a strategic restructuring plan to reduce expenses. The restructuring includes a 24% workforce reduction, resulting in a one-time cost of $0.8 to $1.2 million, expected to yield annual cost savings of about $5.8 million. The company also received a termination notice from a legacy client, which accelerated their restructuring plans. As a result, previous guidance has been suspended.

Portfolio Pulse from Henry Khederian

October 17, 2023 | 3:46 pm