Streetbeat News

Equity Actions

PNC

PNC Financial Services Group Inc.'s shares are trading at $121.19, after a 0.28% increase. Over the past month, the stock rose by 0.69%, but decreased by 17.98% in the past year. The company's P/E ratio is lower than the aggregate P/E of 8.74 of the Banks industry, indicating that the stock might be undervalued. However, a lower P/E can also suggest that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

September 25, 2023 | 5:07 pm

Alcoa Corp (NYSE:AA) announced a CEO transition with William Oplinger succeeding Roy Harvey, effective from Sept. 24. Harvey will serve as a strategic advisor to Oplinger until the end of the year. Following the announcement, Alcoa shares traded lower, down 4.94% at $26.95.

Portfolio Pulse from Adam Eckert

September 25, 2023 | 4:49 pm

Sea Limited (NYSE:SE) shares are trading higher on heavy volume, despite no company-specific news. The stock is still down over 30% in the last three months. The shares are trading near the low of its 52-week range. Sea Limited operates Southeast Asia's largest e-commerce company, Shopee.

Portfolio Pulse from Erica Kollmann

September 25, 2023 | 4:23 pm

PDD

A significant number of investors have taken a bearish stance on PDD Holdings (NASDAQ:PDD), with 72% of detected trades being bearish. The whales have been targeting a price range from $92.0 to $110.0 for PDD Holdings over the last 3 months. Despite this, several financial institutions including Bernstein, Goldman Sachs, Benchmark, Barclays, and JP Morgan have maintained positive ratings on PDD Holdings, with price targets ranging from $115 to $140.

Portfolio Pulse from Benzinga Insights

September 25, 2023 | 4:16 pm

BCLI

BPTS

GWH

MORF

RNAZ

SCYX

U.S. stocks traded mostly higher with the Nasdaq Composite trading higher. Energy shares rose by 1.1% while utilities shares fell by 0.8%. TransCode Therapeutics, ESS Tech, and Biophytis saw their shares rise due to positive news. SCYNEXIS, Brainstorm Cell Therapeutics, and Morphic Holding saw their shares drop due to negative news.

Portfolio Pulse from Lisa Levin

September 25, 2023 | 4:12 pm

AMD

AMZN

IWM

NVDA

Small caps, represented by iShares Russell 2000 ETF (IWM), are signaling recession worries as they have accelerated to the downside. Large caps, however, are being held up by the AI frenzy. Amazon (AMZN) is investing $4B in AI startup Anthropic, following Microsoft's (MSFT) play with OpenAI. This is negatively impacting NVIDIA (NVDA) and AMD (AMD) in early trade. Money flows are positive in Amazon and Apple (AAPL), but negative in Nvidia, Microsoft, Alphabet (GOOG), Meta Platforms (META), and Tesla (TSLA). Money flows are mixed in SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ).

Portfolio Pulse from The Arora Report

September 25, 2023 | 3:24 pm

MARA

Capital Ventures International has increased its stake in Marathon Digital Holdings to 6.1%, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 3:17 pm

BTCUSD

ETHUSD

LUNAUSD

USTUSD

TerraUSD Classic (USTC) will cease minting following a community vote. The decision, which received 59% approval, also ends all conversion of xUST to mint USTC. Over the past year, USTC's value has decreased by 64.1%, with its current price 98.9% lower than its all-time high. The move is aimed at restoring its U.S. dollar peg through the burning of tokens, which will reduce market supply. Terra Classic, the original network created by Terraform Labs, backs UST with assets like LUNA and Bitcoin.

Portfolio Pulse from Khyathi Dalal

September 25, 2023 | 3:10 pm

AAPL

AMZN

BIIB

DLAKY

GOOG

NVS

PFE

RNAZ

TSN

WMT

Several significant business events have occurred. Ford of Canada has reached a collective agreement with Unifor union, including wage increases and pension improvements. Amazon has invested $4 billion in AI startup Anthropic. PhonePe, backed by Walmart, has launched the Indus AppStore Developer Platform to challenge Google's dominance in India. Goodyear plans to redefine its operational presence in the Asia Pacific region. Pfizer's RSVpreF vaccine has been recommended by the CDC for pregnant people. Mercedes Benz has partnered with Mastercard to introduce in-car digital payments. Novartis plans to spin-off the Sandoz business. Eisai and Biogen's Alzheimer treatment Leqembi has been approved in Japan. Alcoa has appointed William F. Oplinger as President and CEO. TransCode Therapeutics' stock is trading higher after positive results with its therapeutic candidate, TTX-MC138. Tyson Foods and Perdue Farms are under investigation over alleged child labor violations. OpenAI has unveiled a new feature for its ChatGPT application, enabling verbal responses. Apple's iOS 17 update allows users to opt for a search engine other than Google. Austrian Airlines faced backlash for making inaccurate environmental claims.

Portfolio Pulse from Vandana Singh

September 25, 2023 | 2:58 pm

AMC

CGC

DHC

GWH

MPLN

NAUT

NKLA

RLX

SHCO

WSM

Despite a general downturn in the U.S. stock market, several stocks recorded gains on Monday. Canopy Growth Corporation, ESS Tech, Sea Limited, Williams-Sonoma, Nikola Corporation, MultiPlan Corporation, AMC Entertainment Holdings, Diversified Healthcare Trust, Nautilus Biotechnology, RLX Technology, and Soho House & Co Inc. all saw increases. Notably, Williams-Sonoma's rise followed Green Equity Investors IX, L.P. increasing its stake in the company to 5%, and ESS Tech's gain came after a strategic collaboration with Honeywell International.

Portfolio Pulse from Lisa Levin

September 25, 2023 | 2:45 pm