Streetbeat News

Equity Actions

NFLX

A significant amount of unusual options activity has been observed for Netflix (NASDAQ:NFLX), with a bearish stance being taken by a majority of investors. The price range targeted by these investors over the last 3 months is from $5.0 to $470.0. Loop Capital has upgraded its action to Buy with a price target of $500, while Oppenheimer has downgraded its action to Outperform with a price target of $515. The next earnings are expected to be released in 48 days.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 2:17 pm

ARKF

ARKK

ARKW

BTCUSD

COIN

GBTC

A federal appeals court has vacated the SEC's rejection of Grayscale Investments' application to convert the Grayscale Bitcoin Trust into an ETF. This ruling could potentially lead to the approval of more Bitcoin ETFs. Cathie Wood, founder of Ark Invest, had predicted this outcome and believes that the approval of Bitcoin ETFs could increase demand for Bitcoin. Grayscale Bitcoin Trust and Coinbase are significant holdings in several Ark Invest ETFs.

Portfolio Pulse from Chris Katje

August 30, 2023 | 2:05 pm

AMZN

CONN

CVX

GOOG

HYMTF

JBLU

PVH

WBD

WMT

Several companies have made significant announcements. Warner Bros. Discovery has appointed Mark Thompson as the new leader of CNN. Hyundai's JV is investing in Korea Zinc to bolster EV battery raw material supply. Toyota's global production and sales increased in July. JetBlue has launched a new non-stop flight from New York to Amsterdam. Alphabet is trialing a new song-searching feature on YouTube. The FDA has criticized Amazon for listing unauthorized drugs. US Steel is evaluating buyout offers. Walmart is asking some pharmacists to take voluntary pay cuts. A lawsuit against Burger King alleging deceptive advertising continues. Chevron has evacuated staff from some oil platforms due to a hurricane. Conn's reported a revenue decline in Q2 FY24, while PVH's Q2 FY23 sales grew.

Portfolio Pulse from Vandana Singh

August 30, 2023 | 2:03 pm

GSAT

QCOM

Globalstar Inc (GSAT) has appointed Paul Jacobs as CEO and announced a licensing agreement with XCOM Labs. Jacobs, founder and CEO of XCOM Labs and former CEO of Qualcomm Inc (QCOM), will replace retiring David Kagan. The agreement gives Globalstar exclusive access to key XCOM technologies and personnel. XCOM will receive approximately 60 million shares of Globalstar common stock. GSAT shares have risen 23.6% and 8.4% on consecutive days.

Portfolio Pulse from Adam Eckert

August 30, 2023 | 1:38 pm

HYMTF

KIMTF

Hyundai Motor Co., Ltd. (OTC:HYMTF) (OTC:HYMLF) and Kia Motors Corp. (OTC:KIMTF) have signed a memorandum of understanding with Korea Zinc to collaborate on the nickel value chain for electric vehicle (EV) batteries. Their joint venture, HMG Global, plans to acquire a 5% stake in Korea Zinc for approximately $399 million. The partnership aims to establish a stable nickel supply chain, with supply commencing in 2026. By 2031, the group plans to source 50% of the nickel needed for EV batteries from this partnership.

Portfolio Pulse from Nabaparna Bhattacharya

August 30, 2023 | 1:29 pm

CWBC

Community West Bancshares (NASDAQ:CWBC) has extended its stock repurchase plan until August 31, 2025. The remaining balance available for common stock repurchase from the authorized $4.5 million is $1,435,783.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 1:15 pm

ALAR

Alarum has announced a private placement financing of $4.25M, consisting of 187,225 units of 10 restricted American Depository Shares (ADS) at $2.72 per ADS. The company's CEO and CFO have invested over $1M in this financing.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 1:09 pm

BUD

MAT

NVDA

A survey by investing platform Public reveals the top investment strategies for the second half of 2023, with dividend investing, artificial intelligence, and electric vehicles being the most prioritized themes. Nvidia Corporation (NASDAQ:NVDA) was highlighted as a top stock in the AI sector. Retail investors also showed increased interest in Mattel (NASDAQ:MAT) and Anheuser-Busch InBev (NYSE:BUD) due to recent news events. The survey also indicates a growing interest in using AI for investment research.

Portfolio Pulse from Chris Katje

August 30, 2023 | 1:00 pm

RBT

Rubicon Technologies (NYSE:RBT) has announced the purchase of the remaining self-liquidating note from Yorkville by entities affiliated with the company's largest investors, Rodina Capital and their partners. The note has been fully converted into shares. This move is part of Rubicon's strategy to improve its liquidity position and accelerate its progress to profitability. The company has recently announced a second consecutive quarter of record Adjusted Gross Profit at approximately $18 million.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 12:57 pm

WBD

Warner Bros. Discovery Inc (NASDAQ:WBD) is reportedly close to appointing Mark Thompson, former executive at the New York Times and the BBC, as the new CEO of CNN. This move is seen as a strategy to combat CNN's prolonged ratings decline. Thompson's tenure at the New York Times was marked by a successful transformation, including the achievement of 10 million paying subscribers ahead of schedule. His appointment comes as Warner Bros. Discovery seeks to rejuvenate CNN and align its traditional TV business with its digital growth objectives.

Portfolio Pulse from Anusuya Lahiri

August 30, 2023 | 12:42 pm