Streetbeat News

Equity Actions

MTB

M&T Bank Corp has filed for a mixed shelf offering, according to a SEC filing. The size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:08 pm

BWEN

Broadwind Inc has filed for a mixed shelf offering of up to $75 million, according to a SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 7:59 pm

CDE

RBC Capital Markets analyst Michael Siperco has upgraded Coeur Mining, Inc (NYSE:CDE) from Sector Perform to Outperform, maintaining a price target of $4. The upgrade is based on the near completion of the expansion at Nevada's Rochester mine, which is expected to significantly increase production by 2025. The analyst also highlighted the diminishing risk of further capex inflation and the stock's relative value compared to its peers.

Portfolio Pulse from Nabaparna Bhattacharya

September 22, 2023 | 7:47 pm

RSP

SPY

According to the latest SPIVA U.S. Scorecard, 60% of active large-cap U.S. equity managers underperformed the S&P 500 in the first half of 2023. This is a significant increase from 2022, when only 49% underperformed. The report also highlights that only 28% of the stocks in the S&P 500 outperformed the index during the first half of 2023. The Invesco S&P 500 Equal Weight ETF (RSP) and the SPDR S&P 500 ETF Trust (SPY) are mentioned in the context of index performance.

Portfolio Pulse from Piero Cingari

September 22, 2023 | 7:46 pm

BA

A significant bullish stance has been taken on Boeing (NYSE:BA) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split 50% bullish and 50% bearish. The whales have been targeting a price range from $125.0 to $220.0 for Boeing over the last 3 months. Analysts from Susquehanna, TD Cowen, and Citigroup have given positive ratings with price targets of $270, $260, and $285 respectively.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 7:45 pm

ATEX

FLUX

MLGO

MOND

NEPT

SCHL

U.S. stocks were mixed with the Dow Jones trading slightly lower and NASDAQ and S&P 500 rising. Information technology shares rose by 0.7% while consumer discretionary shares fell by 0.5%. MicroAlgo, Anterix, and Mondee Holdings saw their shares rise after various announcements, while Neptune Wellness, Scholastic Corporation, and Flux Power Holdings saw their shares fall due to various reasons. Oil traded up 0.9% to $90.44 while gold traded up 0.3% at $1,944.60.

Portfolio Pulse from Lisa Levin

September 22, 2023 | 7:41 pm

HSY

Piper Sandler analyst Michael S. Lavery has reiterated an Overweight rating on The Hershey Company (HSY), but lowered the price target from $285 to $240 due to soaring cocoa and sugar costs. Cocoa costs are up ~50% and sugar is up ~38% in 3Q23TD. Lavery expects cocoa pricing to roll over in the coming months. He also updated margin assumptions for 4Q23 and 2024 to allow for greater input cost pressure. On the positive side, HSY outperformed peers last year during Halloween, helping it secure a greater share of sell-in with retailers for this year.

Portfolio Pulse from Nabaparna Bhattacharya

September 22, 2023 | 7:39 pm

MS

A large investor has taken a bullish stance on Morgan Stanley (NYSE:MS), with 17 uncommon options trades spotted. The sentiment of these big-money traders is split between 52% bullish and 47% bearish. Whales have been targeting a price range from $75.0 to $100.0 for Morgan Stanley over the last 3 months. HSBC has downgraded its action to Buy with a price target of $99.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 7:30 pm

CMG

A significant amount of unusual options activity has been detected for Chipotle Mexican Grill (NYSE:CMG), with a bearish stance being taken by a majority of investors. Of the 11 strange trades detected, 63% were bearish and 36% bullish. The total amount for puts was $218,186 and for calls was $216,520. Whales have been targeting a price range from $1660.0 to $2950.0 for Chipotle over the last 3 months. The current price of CMG is up 0.28% at $1871.29. Several experts have downgraded their ratings but maintained high price targets.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 7:15 pm

META

MSFT

Citigroup analysts have reiterated their bullish stance on Meta Platforms Inc (META) and Microsoft Corp (MSFT). They believe Meta is gaining a larger share of the online advertising market, with ad loads reaching 19% QTD. They also expect to hear more about Meta's GenAI plans in late October. Microsoft's new updates across Windows, Surface, Designer, and Search, as well as the focus on Designer and potential CoPilot, are seen as intriguing. The analysts also see opportunities for greater advertiser engagement with Microsoft Shopping and M365 Chat.

Portfolio Pulse from Anusuya Lahiri

September 22, 2023 | 7:09 pm