Streetbeat News

Equity Actions

AMC

AMC Entertainment Holdings, Inc (NYSE:AMC) stock plunged over 20% following an agreement to sell up to 40 million shares through an equity distribution agreement with several Wall Street investment banks. This follows two weeks of downward pressure after AMC implemented a 10-1 reverse stock split and converted its preferred equity shares into common stock. The stock could be forming a bearish flag pattern or a bullish double-bottom pattern near the $10.73 mark.

Portfolio Pulse from Melanie Schaffer

September 06, 2023 | 4:01 pm

Gartner Inc.'s stock price is currently at $350.25, after a 0.03% decrease. Over the past month, the stock has increased by 3.50%, and over the past year, by 17.31%. The company's P/E ratio of 30.39 is lower than the IT Services industry average of 42.36, which could indicate that the stock is undervalued or that it might perform worse than its industry peers.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 4:00 pm

IDEX

Ideanomics Inc's shares are trading lower by 7% amid overall market weakness and following a 1-for-125 reverse stock split. The company implemented the reverse stock split to restore compliance with the minimum bid price criterion of $1.00 for maintaining listing on The Nasdaq Capital Market. The stock has fallen 73% over the past month.

Portfolio Pulse from Henry Khederian

September 06, 2023 | 3:49 pm

QCOM

Analyst Ming-Chi Kuo predicts that Qualcomm will be negatively impacted by Huawei's adoption of its self-developed Kirin processors starting in 2024. This could result in Qualcomm losing Huawei's orders and facing a decline in shipments to non-Huawei Chinese brands due to increased competition. Qualcomm's SoC shipments to Chinese smartphone brands in 2024 are expected to be 50-60 million units lower than in 2023. Additionally, Qualcomm may start a price war in 4Q23 to maintain market share in the Chinese market, which could hurt profits.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 3:34 pm

PLTR

Palantir Technologies (NYSE:PLTR) has seen unusual options activity, with a split between bullish and bearish stances. 50% of the investors opened trades with bullish expectations and 50% with bearish. The total amount for puts was $260,875 and for calls, $183,298. Whales have been targeting a price range from $10.0 to $18.0 for Palantir over the last 3 months. The price of PLTR is up 0.46% at $15.28. Analysts have mixed ratings on the stock, with price targets ranging from $7 to $25.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 3:31 pm

RKT

Rocket Companies Inc's board Chairman Dan Gilbert and his wife Jennifer, through the Gilbert Family Foundation, have announced a $400 million medical facility in Detroit. The facility will include the Nick Gilbert Neurofibromatosis Research Institute and a Shirley Ryan AbilityLab facility. The Gilbert Family Foundation will cover construction costs and operating expenses for the first 10 years. The initiative is part of the family's mission to bring more opportunities to Detroit.

Portfolio Pulse from Aaron Bry

September 06, 2023 | 3:14 pm

CMCSA

DIS

Comcast CEO announced that the company has modified its agreement with Disney, extending the date for the sale or purchase of Hulu to September 30, 2024. The announcement was made during the Goldman Sachs Conference.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 3:00 pm

CMCSA

DIS

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 2:59 pm

AAPL

AMD

AMZN

GOOG

META

MSFT

NVDA

QQQ

SMH

SPY

TSLA

Investors are closely watching the semiconductor sector due to concerns about weak seasonality in the stock market. The VanEck Semiconductor ETF (SMH) has risen 53.9% this year, driven by excitement around artificial intelligence. Advanced Micro Devices (AMD) has seen a boost from a business win from Hitachi Astemo and comments by CEO Lisa Su about AI opportunities. However, the sector's momentum is waning, according to the RSI. Money flows are positive for Alphabet (GOOG) and Meta Platforms (META), but negative for Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), NVIDIA (NVDA), Tesla (TSLA), SPDR S&P 500 ETF Trust (SPY), and Invesco QQQ Trust Series 1 (QQQ).

Portfolio Pulse from The Arora Report

September 06, 2023 | 2:45 pm

BUD

Bill Gates has purchased $95 million worth of Anheuser-Busch shares, equivalent to 1.7 million shares, through his Bill & Melinda Gates Foundation Trust. This comes after Anheuser-Busch's share price fell nearly 9% over the past six months due to a failed marketing campaign for Bud Light. Despite the ongoing national boycott of Bud Light, Gates is betting on a comeback for the brand.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 2:31 pm