Streetbeat News

Equity Actions

AEYE

AudioEye's Board of Directors has terminated a program to repurchase up to $3M of its common stock, according to a filing.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 8:20 pm

HESM

Hess Midstream LP (HESM) has announced the commencement of an underwritten public offering of 10 million Class A shares by an affiliate of Global Infrastructure Partners. The affiliate also intends to grant underwriters a 30-day option to purchase up to 1.5 million additional Class A shares. HESM will not receive any proceeds from the sale. Goldman Sachs & Co. LLC is the bookrunning manager of the offering.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 8:16 pm

SUI

JMP Securities analyst Aaron Hecht has reiterated the Market Outperform rating on Sun Communities, Inc. (SUI), but lowered the price target from $160 to $150. The analyst is concerned about SUI's overall guidance decline this quarter, primarily due to lower home sales in the UK amid deteriorating macroeconomic conditions. However, the Marina segment has shown resilience, with FY23 guidance increased by 60bps at the midpoint. SUI shares are currently trading lower by 1.27%.

Portfolio Pulse from Nabaparna Bhattacharya

August 15, 2023 | 7:39 pm

LLY

Eli Lilly's shares are trading higher after Tiger Global added a stake in Q2. The stock has seen gains this year due to promising weight loss and Alzheimer's data.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 7:23 pm

DCTH

DSGN

FXLV

GLTO

NVOS

SYTA

US stocks traded lower with the Nasdaq Composite falling over 100 points. The Home Depot reported better-than-expected Q2 results and authorized a new $15 billion share repurchase program. Delcath Systems, Novo Integrated Sciences, and Siyata Mobile saw their shares rise after positive news. F45 Training Holdings, Design Therapeutics, and Galecto saw their shares drop after negative news.

Portfolio Pulse from Lisa Levin

August 15, 2023 | 7:04 pm

AAPL

BABA

INTC

META

MSFT

NVDA

PYPL

UNH

Hedge funds increased their positions in tech stocks in Q2, with Meta Platforms, Microsoft, Nvidia, and Apple seeing the biggest increases. Meta Platforms saw the largest increase by market value, with investment firms increasing their positions by 5.7 million shares. Microsoft saw the next biggest increase, with investment managers adding 2.41 million shares. Amazon, Nvidia, and Apple also saw significant inflows. However, UnitedHealth Group, Alibaba Group, Intel Corp, and PayPal Holdings saw the biggest decreases in overall market value.

Portfolio Pulse from Adam Eckert

August 15, 2023 | 6:29 pm

HXL

RBC Capital Markets analyst Ken Herbert has upgraded Hexcel Corp (HXL) to Outperform from Sector Perform and increased the price target to $85 from $75. Herbert expects aerospace growth to accelerate in 2024-2025 and sees HXL as well positioned to deliver better-than-expected margins and FCF upside. He estimates 2025 FCF to be $320 million, ahead of consensus, and expects operating margins to hit 17% in 2025 with sales of $2.3 billion. The analyst also raised the adjusted EPS estimate for FY24 and FY25.

Portfolio Pulse from Lekha Gupta

August 15, 2023 | 6:22 pm

A significant investor has taken a bullish stance on Boeing (NYSE:BA), with 50% of the investors opening trades with bullish expectations and 50% with bearish. The total amount for puts is $210,680 and for calls is $322,419. The targeted price range for Boeing over the last 3 months is from $175.0 to $330.0. The current price of BA is down -1.64% at $232.82.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 6:16 pm

FTCH

Farfetch shares are experiencing an upward trend, with notable activity in August $5 calls.

Portfolio Pulse from Charles Gross

August 15, 2023 | 6:15 pm

AAPL

INTU

PYPL

PayPal Holdings, Inc (PYPL) has appointed Alex Chriss, from Intuit Inc (INTU), as its new CEO, effective from September 27, 2023. Analysts from Mizuho and KBW have reiterated their Buy and Outperform ratings on PayPal, with price targets of $92.00 and $90.00 respectively. The new CEO will face challenges such as changing the narrative around PayPal's share loss to Apple Inc's (AAPL) Apple Pay and deciding on the potential merger of PayPal and Venmo brands.

Portfolio Pulse from Anusuya Lahiri

August 15, 2023 | 6:13 pm