Streetbeat News

Equity Actions

BABA

BYDDY

TCEHY

China's economy showed signs of expansion in September, with the purchasing manufacturers index (PMI) rising to 50.2 and non-manufacturing activity climbing to 51.7. Despite this, investors remain concerned about the domestic property market. Overseas investors have sold around $5.2 billion in stocks this month, extending $12.7 billion in sales in August. However, fund managers forecast a rise of 21% for Hong Kong shares and gains of 8.4% for mainland stocks by year-end. Alibaba Group Holding Limited (NYSE:BABA), BYD Co Ltd (OTC:BYDDY), and Tencent Holdings Limited (OTC:TCEHY) are seen as potential bargains due to the sell-off and focus on tech by the Chinese government.

Portfolio Pulse from Daniel Harrison

October 02, 2023 | 4:53 pm

IMPP

Imperial Petroleum (IMPP) has seen a significant option alert. Specifically, there were 1799 calls for January 19 at $2, which were near the ask price. This is compared to an open interest of 329. The reference price was $1.63.

Portfolio Pulse from Charles Gross

October 02, 2023 | 4:49 pm

SBUX

Starbucks Inc.'s shares are currently trading at $91.03, after a 0.26% drop. Over the past month, the stock fell by 6.10%, but over the past year, it spiked by 2.73%. The company's price-to-earnings (P/E) ratio is lower than the aggregate P/E ratio of the Hotels, Restaurants & Leisure industry, which could indicate that the stock is undervalued.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 4:45 pm

SQ

A significant bearish stance has been taken on Block (NYSE:SQ) by a large investor, as indicated by a large position in the company's options. The sentiment among these big-money traders is split, with 47% bullish and 52% bearish. The whales have been targeting a price range from $37.5 to $130.0 for Block over the last 3 months. Several experts have downgraded their ratings on Block, while others maintain their positive outlook.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 4:31 pm

TGT

A significant bullish stance has been taken on Target (NYSE:TGT) as indicated by unusual options activity. The sentiment among these big-money traders is split evenly between bullish and bearish. The price range targeted by these traders for Target over the last 3 months is from $75.0 to $160.0. The current price of TGT is $110.2. Analysts from Evercore ISI Group, Morgan Stanley, HSBC, and Stifel have maintained their ratings on Target with price targets ranging from $130 to $142.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 4:31 pm

CLF

X

United States Steel Corporation (NYSE:X) is undergoing a transformation, expanding its EAF capabilities and downstream offerings, according to Morgan Stanley analyst Carlos De Alba. De Alba upgraded the rating for US Steel from Equal-Weight to Overweight and raised the price target from $25 to $40. The company's new 3.0mtpa Big River 2 mini mill is expected to come online in 2024, which will nearly double its EAF steelmaking capabilities. US Steel is also increasing its presence in downstream products.

Portfolio Pulse from Priya Nigam

October 02, 2023 | 4:30 pm

SHOP

A significant bearish stance has been taken on Shopify (NYSE:SHOP) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 36% bullish and 63% bearish. The whales have been targeting a price range from $30.0 to $80.0 for Shopify over the last 3 months. JMP Securities has downgraded its action to Market Outperform with a price target of $72.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 4:16 pm

ORCL

Brian Belski announced on CNBC that he has increased his holdings in Oracle (ORCL).

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 4:16 pm

ADBE

A significant number of investors have taken a bearish stance on Adobe (NASDAQ:ADBE), with 70% of recent unusual options trades being bearish. The trades range from $420.0 to $560.0. Adobe's stock price is currently down 0.5% at $507.36. Analysts from BMO Capital, Evercore ISI Group, and Piper Sandler maintain an Outperform rating on Adobe, with price targets ranging from $605 to $650. RBC Capital and HSBC have downgraded their ratings to Outperform and Hold respectively, with price targets of $615 and $519.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 4:16 pm

KKR

KKR & Co Inc has sold over 5 million square feet of industrial warehouse and distribution assets for more than $560 million. The sale was completed through five transactions with separate buyers. The assets sold are part of the Real Estate Partners Americas II fund and include over 50 industrial buildings in high-growth markets. KKR continues to focus on acquiring logistics properties in growth markets.

Portfolio Pulse from Lekha Gupta

October 02, 2023 | 4:01 pm