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Equity Actions

T

TMUS

VZ

Citigroup analyst Michael Rollins upgraded Verizon Communications Inc (VZ) and AT&T Inc (T) from Neutral to Buy, raising the price target for VZ from $39 to $40 and setting a $17 price target for T. Rollins sees a more constructive investment case for large-cap Telcos and anticipates positive catalysts such as updates on lead exposure and evidence of a stabilizing wireless competitive landscape. He still prefers T-Mobile US, Inc (TMUS) as his top-ranked pick.

Portfolio Pulse from Anusuya Lahiri

August 29, 2023 | 5:50 pm

RCL

Unusual options activity has been observed for Royal Caribbean Gr (NYSE:RCL), with a large position indicating a bullish stance. The overall sentiment of these big-money traders is split between 64% bullish and 35% bearish. The price of RCL is up 2.25% at $100.53. Morgan Stanley has maintained their Equal-Weight rating on Royal Caribbean Gr, with a price target of $100.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 5:45 pm

NOK

Nokia Inc.'s (NYSE:NOK) stock price is currently at $3.94, after a 2.21% increase. However, the stock has fallen by 0.38% over the past month and by 22.08% over the past year. Nokia's P/E ratio is lower than the aggregate P/E of the Communications Equipment industry, which could indicate that the stock is undervalued.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 5:30 pm

APLS

BEAM

Apellis Pharmaceuticals Inc has announced a corporate restructuring plan to catalyze the growth of its flagship products, Syfovre and Empaveli. The company will focus on treating rare kidney disorders and will not initiate new clinical development programs with systemic pegcetacoplan. Research will be focused on retinal and central nervous system diseases. The restructuring includes a reduction of around 225 employees, expected to conclude in Q3 2023, and is projected to save up to $300 million through 2024. Apellis' shares are down 4.65%.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 5:27 pm

JXN

Jackson Financial's shares are trading higher following the announcement that the company will be included in the S&P SmallCap 600 index.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 5:16 pm

MDB

A whale investor has taken a bullish stance on MongoDB (NASDAQ:MDB), with 50% of investors opening trades with bullish expectations and 50% with bearish. The total amount for puts is $661,603 and for calls is $1,500,345. Whales have been targeting a price range from $70.0 to $590.0 for MongoDB over the last 3 months. The price of MDB is up 4.41% at $369.94. Citigroup has maintained their Buy rating on MongoDB, with a price target of $455.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 5:15 pm

U

A significant amount of unusual options activity has been observed for Unity Software (NYSE:U), with a majority of investors taking a bearish stance. The price range targeted by these investors over the last three months is between $35.0 and $60.0. Unity Software's stock price is currently up 5.7% at $36.67. Analysts from Goldman Sachs, Wedbush, Piper Sandler, and Credit Suisse have maintained their ratings on Unity Software, with price targets ranging from $45 to $61.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 4:31 pm

ARKK

ROKU

TARK

TSLA

The Ark Innovation ETF (ARKK) surged almost 5% higher on Tuesday, moving above the 200-day simple moving average (SMA), indicating a bull cycle. The AXS 2x Innovation ETF (TARK) offers leveraged long exposure to ARKK, aiming to return 200% of ARKK's daily performance. ARKK's largest holdings include Tesla (TSLA), Roku (ROKU), and Zoom Video Communications. ARKK is currently in an uptrend, with resistance at $43.83 and $45.43.

Portfolio Pulse from Melanie Schaffer

August 29, 2023 | 4:19 pm

MSFT

NVDA

ORCL

UBS analyst Karl Keirstead has upgraded Oracle Corp (NYSE:ORCL) from a Neutral rating to a Buy rating and raised the price target from $120 to $140. The upgrade is based on Oracle's edge in cloud due to GPU supply constraints. Oracle has outsized allocations of Nvidia Corp (NASDAQ:NVDA) GPUs relative to its size, and the GPU shortage could last for six to 12 months. Keirstead also noted that Oracle's SaaS business could benefit from AI.

Portfolio Pulse from Adam Eckert

August 29, 2023 | 4:17 pm

F

Model 1 Commercial Vehicles has signed a contract with the California Vanpool Authority (CalVans) to supply 403 new Ford E-Transit vans. This move is part of CalVans' efforts to replace its traditional-fuel units with electric vehicles (EVs). Model 1, the nation's largest bus and transportation services dealer, was able to meet CalVans' timing and deliver an entire fleet of Ford E-Transit vans, despite many vehicle dealers still recovering from pandemic-related supply chain issues.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 4:07 pm