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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

BUD

Anheuser-Busch has announced a $22.5 million investment in its Houston brewery, according to Reuters.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 4:06 pm

ADBE

A significant bearish stance has been taken on Adobe (NASDAQ:ADBE) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 42% bullish and 57% bearish. The whales have been targeting a price range from $200.0 to $800.0 for Adobe over the last 3 months. B of A Securities and Morgan Stanley have upgraded their actions to Buy and Overweight respectively, with price targets of $630 and $660.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 4:01 pm

PANW

A large bearish position has been taken on Palo Alto Networks (NASDAQ:PANW), with 68% of big-money traders showing bearish sentiment. The price range targeted by these traders over the last 3 months is $130.0 to $280.0. The current price of PANW is $233.58, up 0.5%. Several financial institutions have maintained their positive ratings on PANW, with price targets ranging from $259 to $295.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 4:01 pm

BA

LMT

The U.S. Air Force is testing AI-powered drones, the XQ-58A Valkyrie, which can fly across China, carry missiles, and significantly alter military warfare. The Valkyrie program indicates a shift in the Pentagon's procurement strategy, potentially favoring software-first companies like Shield AI and Anduril over traditional defense contractors like Lockheed Martin and Boeing. The adoption of AI technology could act as a deterrent against potential Chinese aggression.

Portfolio Pulse from AJ Fabino

August 29, 2023 | 3:56 pm

MSFT

NFLX

SONY

Netflix Inc. has launched a beta version of its video game streaming service in the UK and Canada, marking its entry into the cloud gaming industry. The company also showcased its impressive viewership metrics and original content during its recent Upfront presentation. However, Netflix is set to remove a variety of movies and TV shows in September due to the expiration of licensing agreements.

Portfolio Pulse from Mohit Manghnani

August 29, 2023 | 3:46 pm

LULU

A significant bearish stance has been taken on Lululemon Athletica (NASDAQ:LULU) by a large investor or institution. This was noticed through publicly available options history. The overall sentiment of these big-money traders is split between 26% bullish and 73% bearish. Whales have been targeting a price range from $280.0 to $390.0 for Lululemon Athletica over the last 3 months. Telsey Advisory Group downgraded its action to Outperform with a price target of $430.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:31 pm

AMC

GME

NVDA

QQQ

The author, a former hedge fund manager, discusses the changing nature of futures markets and their decreasing predictability. He notes that overnight futures markets are no longer reliable indicators of stock price movements. The author cites the unpredictability of meme stocks like Gamestop (GME) and AMC Entertainment (AMC), and the recent volatility of Nvidia (NVDA) and NASDAQ (QQQ) as examples. He advises focusing on long-term value rather than short-term trading signals.

Portfolio Pulse from Gary Brode

August 29, 2023 | 3:31 pm

VRSK

Verisk Analytics's (NYSE:VRSK) short percent of float has fallen 8.47% since its last report, with 5.78 million shares sold short, which is 4.54% of all regular shares available for trading. It would take traders 6.09 days to cover their short positions on average. The company has more short interest than most of its peers, with an average of 3.02%.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:15 pm

CTLT

Catalent (CTLT) shares are trading higher following the company's strong guidance and a cooperation agreement with Elliott Investment Management.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 3:03 pm