Streetbeat News

Equity Actions

OPRA

Opera Limited has announced a proposed secondary follow-on public offering of 6.87 million American Depositary Shares (ADS).

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:07 pm

ADI

UBER

Uber Technologies Inc. has hired Prashanth Mahendra-Rajah, a semiconductor executive and finance veteran, as its new CFO. Mahendra-Rajah, who has been CFO at Analog Devices Inc. for six years, will officially start his new role on November 13.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:05 pm

KF

The Korea Fund, Inc. (NYSE:KF) has appointed Citigroup Global Markets Inc. as its agent and broker for implementing its Discount Management Program. The program allows the fund to repurchase annually up to 10% of its common shares outstanding as of the close of business on June 30th of the prior year. The repurchases will be made on a national securities exchange at the prevailing market price. The program aims to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (NAV) per share.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:04 pm

TSM

A significant bearish stance has been taken on Taiwan Semiconductor (NYSE:TSM) as indicated by unusual options activity. The sentiment among big-money traders is split between 30% bullish and 69% bearish. The whales have been targeting a price range from $75.0 to $120.0 for Taiwan Semiconductor over the last 3 months. The price of TSM is up 0.93% at $85.07, and RSI indicators suggest that the stock may be oversold. The next earnings are expected to be released in 15 days.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 7:16 pm

GM

A significant investor has taken a bearish stance on General Motors (NYSE:GM), with 53% of investors opening trades with bearish expectations. The majority of spotted trades are puts, totaling $874,800, while calls total $69,214. Whales have been targeting a price range from $26.0 to $45.0 for GM over the last 3 months. UBS has upgraded its action to Buy with a price target of $44.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 7:00 pm

MSFT

WEC

RBC Capital Markets analyst Shelby Tucker initiated coverage of WEC Energy Group Inc with a Sector Perform rating and a price target of $95. The analyst sees growth opportunities in Wisconsin, led by the push for electrification and decarbonization. Microsoft Corp's investment in data centers in Wisconsin is expected to offer incremental investment opportunities for WEC over the medium term. However, WEC's increased usage of parent debt to ~30% could weigh on the FFO/debt ratio.

Portfolio Pulse from Lekha Gupta

September 27, 2023 | 6:58 pm

KNW

MCLD

MLKN

PIXY

SPRC

STSS

US stocks traded lower with the Dow Jones falling more than 200 points. Energy shares rose by 1.9% while utilities shares fell by 2.1%. Crude oil inventories in the U.S. declined by 2.17 million barrels. ShiftPixy, SciSparc, and MillerKnoll shares rose significantly after various announcements. mCloud Technologies, Sharps Technology, and Know Labs shares dropped significantly due to various reasons.

Portfolio Pulse from Lisa Levin

September 27, 2023 | 6:30 pm

MSOS

TCNNF

Trulieve CEO Kim Rivers has expressed interest in expanding the company's operations into Pennsylvania and Georgia over the next two years. This information was shared during a Benzinga Cannabis Capital Conference.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 6:22 pm

SPY

Economists and financial experts believe that a potential U.S. government shutdown would not immediately lead to a recession, but caution that the risk could increase if the shutdown is prolonged. Short-term shutdowns typically have a minor effect on the economy, but extended shutdowns could significantly impact economic growth. Analysts at Goldman Sachs noted that consumer confidence usually falls during shutdowns, but recovers in the following month. They also forecasted that a shutdown could reduce growth by about 0.2 percentage points per week, mainly due to federal workers not receiving salaries. However, growth is expected to rise by the same amount in the quarter following the shutdown. The SPDR S&P 500 ETF Trust (NYSE:SPY) fell nearly 6% this month due to the rising risk of a government shutdown.

Portfolio Pulse from Piero Cingari

September 27, 2023 | 6:17 pm

SQ

A whale investor has shown a bullish stance on Block (NYSE:SQ), with 50% of investors opening trades with bullish expectations and 50% with bearish. The whale has been targeting a price range from $40.0 to $130.0 for Block over the last 3 months. The current price of SQ is down -1.77% at $44.02. Analysts have mixed ratings on Block, with price targets ranging from $65 to $90.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 6:16 pm