Streetbeat News

Equity Actions

RACE

A significant bearish stance has been taken on Ferrari (NYSE:RACE) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 45% bullish and 54% bearish. The targeted price range for Ferrari over the last 3 months has been $260.0 to $320.0. The current price of RACE is down -3.35% at $292.77. UBS maintains a Buy rating on Ferrari with a price target of $375, while Jefferies maintains a Hold rating with a price target of $300.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 7:46 pm

SBUX

A 'whale' investor has taken a bullish stance on Starbucks (NASDAQ:SBUX), with 54% of investors opening trades with bullish expectations and 45% with bearish. The whale has been targeting a price range from $70.0 to $100.0 for Starbucks over the last 3 months. The price of SBUX is currently down -1.7% at $93.55. TD Cowen has downgraded its action to Market Perform with a price target of $107.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 7:46 pm

MELI

MercadoLibre, Inc. (NASDAQ:MELI) announced a convertible note redemption, which will save the company approximately $44 million in interest expense. The company's shares are trading lower following the announcement.

Portfolio Pulse from Ryan Gustafson

September 21, 2023 | 7:40 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower by 2.6% amid overall market weakness and a rise in Treasury yields following the FOMC statement. The company, like many EV companies, requires substantial capital for growth initiatives, and rising interest rates could increase borrowing costs, potentially impacting its ability to fund these initiatives. Investors are concerned about higher capital costs affecting Rivian's financial health and growth prospects.

Portfolio Pulse from Henry Khederian

September 21, 2023 | 7:15 pm

LVS

A significant bullish stance has been taken on Las Vegas Sands (NYSE:LVS) by a large investor, as indicated by a big position in the company's options. The sentiment among these big-money traders is split, with 54% bullish and 45% bearish. The whales have been targeting a price range from $28.0 to $55.0 for Las Vegas Sands over the last 3 months. Morgan Stanley has maintained their Overweight rating on Las Vegas Sands, with a price target of $68.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 6:32 pm

DRI

MURF

SEEL

SPLK

TVTX

US stocks traded lower with the Dow Jones falling around 200 points. Darden Restaurants Inc reported better-than-expected earnings for its first quarter with sales growth of 11.6% YoY to $2.73 billion. Murphy Canyon Acquisition Corp. shares shot up 39% after stockholder approval of the proposed combination with Conduit Pharmaceuticals. Cisco Systems agreed to acquire Splunk for $157 per share in cash. Travere Therapeutics shares dropped 41% after announcing topline two-year confirmatory secondary endpoint results from its Phase 3 PROTECT Study. Seelos Therapeutics was down 38% after announcing a $4.5 million registered direct offering of common stock and warrants to purchase common stock.

Portfolio Pulse from Lisa Levin

September 21, 2023 | 6:30 pm

REPX

Riley Exploration Permian's Form4 filing reveals that Libin Alvin Gerald purchased 100,000 shares at an average price of $30.25 per share.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 6:26 pm

BNP

C

COTY

US beauty and fragrance company, Coty Inc., is planning a Paris listing that could occur in the coming weeks. The company has engaged BNP Paribas SA and Citigroup Inc. to facilitate the deal. Coty is considering raising fresh capital from the listing.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 6:03 pm

VRSK

Verisk Analytics Inc.'s stock price is currently at $242.22, after a 1.67% decrease. However, the stock has increased by 3.22% over the past month and by 38.25% over the past year. The company's P/E ratio is 48.3, higher than the Professional Services industry average of 47.42, indicating that investors expect the company to perform better in the future.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 5:45 pm

DUK

Unusual options activity has been observed for Duke Energy (NYSE:DUK), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 options trades for Duke Energy, with 70% bearish sentiment. Whales have been targeting a price range from $90.0 to $100.0 for Duke Energy over the last 3 months. The price of DUK is down -0.41% at $93.98. Barclays, Mizuho, RBC Capital, and Morgan Stanley have maintained their ratings on Duke Energy with price targets ranging from $91 to $101.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 5:34 pm