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Equity Actions

A large bearish position has been taken on Visa (NYSE:V), as noticed by Benzinga's options scanner. The overall sentiment of these big-money traders is 100% bearish. Whales have been targeting a price range from $190.0 to $250.0 for Visa over the last 3 months. Baird has downgraded its action to Outperform with a price target of $284, while JP Morgan maintains their Overweight rating on Visa, with a price target of $293.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 3:30 pm

CCL

CUK

EIS

RCL

Israel's Ministry of Tourism has advised against tours, suggesting that those arriving on cruises should stay on their ships and tourists should remain in their hotels. This could impact cruise companies and the Israeli ETF.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 3:27 pm

PIXY

ShiftPixy Inc (NASDAQ:PIXY) shares have fallen by 17% over the past five sessions after the company announced a $2.5 million registered direct offering and concurrent private placement. The closing of the offering is expected to occur on October 10. The company intends to use the net proceeds for general corporate purposes.

Portfolio Pulse from Henry Khederian

October 10, 2023 | 3:17 pm

MELI

A significant bullish stance has been taken on MercadoLibre (NASDAQ:MELI) as evidenced by unusual options activity. The sentiment among these big-money traders is split between 66% bullish and 33% bearish. The whales have been targeting a price range from $1000.0 to $1410.0 for MercadoLibre over the last 3 months. Susquehanna has maintained their Positive rating on MercadoLibre, with a price target of $1625.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 3:16 pm

FCX

A significant bullish stance has been taken on Freeport-McMoRan (NYSE:FCX) as evidenced by unusual options activity. The sentiment among these big-money traders is 70% bullish and 30% bearish. The whales have been targeting a price range from $34.0 to $37.0 for Freeport-McMoRan over the last 3 months. The current price of FCX is up 1.17% at $37.26. Morgan Stanley has maintained their Equal-Weight rating on Freeport-McMoRan with a price target of $44.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 3:15 pm

TRNO

Terreno Realty Corp (TRNO) reported major Q3 FY23 developments, including 98.3% occupancy, a 38.9% increase in cash rents, and no debt maturities in 2023. The company acquired a property in Santa Ana for $14.8 million and sold a property in Maryland for $18 million. It also issued common shares at an average price of $60.78 per share, raising $95.7 million.

Portfolio Pulse from Lekha Gupta

October 10, 2023 | 3:13 pm

UTEN

The IMF's World Economic Outlook forecasts robust growth for the US economy, with GDP in 2023 expected to surpass pre-pandemic levels. The US economic growth for 2023 is estimated at 2.1%, a 0.3 percentage point increase from previous estimates. Unemployment is expected to rise modestly from 3.6% to 3.9% by 2025. However, the IMF warns of rising government debt due to expansionary fiscal policy, with debt expected to increase from 123.3% of GDP in 2023 to 137.5% by 2028. The 10-year government bond yield is projected to average 3.8% in 2023 and increase to 4.0% in 2024. The US 10 Year Note ETF (NASDAQ:UTEN) has fallen by 9% in 2023.

Portfolio Pulse from Piero Cingari

October 10, 2023 | 3:10 pm

EIS

ISRA

ITEQ

IZRL

KTOS

LMT

MBLY

NOC

RTX

TEVA

As the conflict between Israel and Hamas continues, Israel is considering forming an emergency government. This situation has led to volatility in several sectors, including oil, gold, and defense stocks. Defense stocks such as Lockheed Martin Corporation, Northrop Grumman Corporation, RTX Corporation, General Dynamics Corporation, and Kratos Defense & Security Solutions saw heavy action. Companies headquartered in Israel or with major operations in the country were mostly down, but some, like Mobileye Global Inc and Teva Pharmaceutical Industries Ltd, were recovering. ETFs that cover Israel, including iShares MSCI Israel ETF, Ark Israel Innovative Technology, VanEck Israel ETF, and the BlueStar Israel Technology ETF, were trading higher.

Portfolio Pulse from Chris Katje

October 10, 2023 | 3:04 pm

BIRK

Birkenstock Holding Limited (NYSE:BIRK) is set to start trading on the NYSE exchange under the ticker BIRK on October 11. The company is offering shares at an expected price between $44.00 and $49.00 per share with an insider lock-up period of 180 days ending on April 08, 2024.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 3:00 pm

WLY

John Wiley & Sons Inc Class A (NYSE:WLY) shares are trading lower by 10.6% following the announcement of CEO Brian Napack's departure and the appointment of Matthew Kissner as Interim CEO. This change is part of a value creation plan introduced in June, focusing on strengthening core businesses, divesting non-core assets, and streamlining operations. Fiscal 2024 is considered a transition year, with benefits expected in fiscal years 2025 and 2026.

Portfolio Pulse from Henry Khederian

October 10, 2023 | 2:59 pm