Streetbeat News

Equity Actions

CMG

A significant bearish stance has been taken on Chipotle Mexican Grill (NYSE:CMG) by a large investor, as indicated by a large position in options. The overall sentiment of these big-money traders is 33% bullish and 66% bearish. The whales have been targeting a price range from $1320.0 to $3000.0 for Chipotle over the last 3 months. Wedbush has downgraded its action to Outperform with a price target of $2200.

Portfolio Pulse from Benzinga Insights

September 14, 2023 | 5:47 pm

AAPL

SMTC

Semtech Corporation (SMTC) has been upgraded to Positive from Neutral by Susquehanna analyst Christopher Rolland, who maintained a price target of $30. The company's Q2 net sales increased 0.8% sequentially and 13.9% YoY. Rolland believes the stock has an underappreciated AI optical angle and is benefiting from a potential China IoT module ban. He also suggests a turnaround plan for the stock, including cost-cutting, reinvestment in high ROI products, and deleveraging through asset sales. Rolland also mentioned that Apple Inc (AAPL) wins should benefit proximity/protection.

Portfolio Pulse from Nabaparna Bhattacharya

September 14, 2023 | 5:42 pm

CVS

CVS Health Inc.'s shares are currently trading at $70.33, after a 0.14% increase. Over the past month, the stock has risen by 5.29%, but it has decreased by 31.08% over the past year. The company's P/E ratio is 32.07, lower than the Health Care Providers & Services industry average of 118.16, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

September 14, 2023 | 5:30 pm

PYPL

SONY

Sony Group's Network Communication department has formed a joint venture with Singapore-based Startale Labs to develop a blockchain that will be part of the global web3 infrastructure. The JV company, named Sony Network Communications Labs Pte. Ltd., will be formed in September. The partnership aims to provide value-added services in all Sony's business arenas and host blockchain-based offerings from Sony. The capital base stands at SGD 1 million with 90% investment from Sony Network Communications and 10% from Startale Labs.

Portfolio Pulse from Khyathi Dalal

September 14, 2023 | 5:29 pm

AAPL

AMD

ARM

GOOG

NVDA

SFTBF

ARM Holdings plc made its U.S. stock market debut, with its stock trading close to 20% higher due to the artificial intelligence frenzy. The company raised $4.87 billion from 95.5 million American depositary shares at $51.00 per ADS. CEO Rene Haas sees a potential revenue of $28 billion in cloud computing by 2025. Softbank Group Corp chose to retain 90% of the company, releasing 10% of its shares to public investors. ARM's clients include Apple Inc., Alphabet Inc., Nvidia, and Advanced Micro Devices, many of whom are its anchor investors.

Portfolio Pulse from Anusuya Lahiri

September 14, 2023 | 5:26 pm

USB

U.S. Bancorp (NYSE:USB) has launched a new initiative to serve small-to-midsize healthcare practices with up to $25 million in annual revenue. The bank aims to help these providers accept payments, streamline operations, and improve patient experience. The service also includes wealth management expertise to help practitioners achieve their personal financial goals. The bank is adding over 50 new positions nationwide to power the initiative.

Portfolio Pulse from Nabaparna Bhattacharya

September 14, 2023 | 5:15 pm

FSLR

BMO Capital Markets analyst Ameet Thakkar has upgraded First Solar, Inc (NASDAQ:FSLR) to Outperform with an unchanged price target of $237. Thakkar notes that despite falling global prices for solar modules, FSLR is steadily building sales volumes. The analyst also applauds FSLR's announcement of a 5 GW order from solar developer Energix. Thakkar adds that the recent weakness in FSLR shares presents an attractive entry point. FSLR share price has declined 18% since its 2Q earnings call compared to 3% for the S&P 500 over this timeframe.

Portfolio Pulse from Nabaparna Bhattacharya

September 14, 2023 | 5:05 pm

VZ

Verizon Communications (NYSE:VZ) has seen unusual options activity, with over 10 trades summing to $341,088. Whales have been targeting a price range from $33.0 to $35.0 for Verizon over the last 3 months. The price of VZ is up 1.05% at $34.22. Citigroup upgraded its action to Buy with a price target of $40, while Oppenheimer downgraded its action to Outperform with a price target of $43.

Portfolio Pulse from Benzinga Insights

September 14, 2023 | 5:01 pm

MS

A large investor has taken a bullish stance on Morgan Stanley (NYSE:MS), with 10 uncommon options trades spotted. The sentiment of these trades is split 50% bullish and 50% bearish. The trades include 2 puts amounting to $54,642 and 8 calls amounting to $300,250. Whales have been targeting a price range from $80.0 to $95.0 for Morgan Stanley over the last 3 months. HSBC has downgraded its action to Buy with a price target of $99, while Oppenheimer maintains their Outperform rating with a price target of $105.

Portfolio Pulse from Benzinga Insights

September 14, 2023 | 4:31 pm

RTX

Jim Lebenthal announced on CNBC that he has sold his shares in Raytheon Technologies Corporation (RTX).

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 4:29 pm