Streetbeat News

Equity Actions

MVIS

MicroVision, Inc. has announced a $35 million at-the-market equity facility. The company plans to use the proceeds for general corporate purposes.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 8:22 pm

LYFT

Lyft's Form 4 filing reveals that Prashant Aggarwal has purchased 96,900 shares of the company.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 8:21 pm

PVH

PVH Corp has increased its planned repurchases for the full year to up to $400 million.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 8:18 pm

ARR

ARMOUR Residential REIT has announced a 1-for-5 reverse stock split. This action is typically taken by companies to increase the market price of their shares.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 8:17 pm

CVNA

A significant bearish stance has been taken on Carvana (NYSE:CVNA) as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 37% bullish and 62% bearish. Whales have been targeting a price range from $30.0 to $60.0 for Carvana over the last 3 months. Morgan Stanley maintains an Underweight rating on Carvana with a price target of $37, while Jefferies and JMP Securities have downgraded their actions with price targets of $30 and $60 respectively.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 8:16 pm

BOX

Box Inc has updated its FY24 guidance. Revenue is expected to be between $1.040 billion and $1.044 billion, representing a 5% YoY increase at the high end of the range. GAAP operating margin is expected to be around 4.5%, and non-GAAP operating margin is expected to be 25.5%. GAAP net income per share is expected to be between $0.17 and $0.21, while non-GAAP diluted net income per share is expected to be between $1.46 and $1.50. This represents an increase from Box's previous guidance.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 8:09 pm

IRIX

Iridex Corporation has announced plans to review and evaluate strategic alternatives to enhance shareholder value. The alternatives could include a sale of the company, a business combination, a merger, a reverse merger, a business disposal, a joint venture, or other transactions.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 8:06 pm

FCX

STLD

VALE

Metals and materials stocks are trading higher amid overall market strength. Vale suggested that China's steel demand is declining less than some indicators suggest.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 7:50 pm

AMZN

CRM

GOOG

META

MSFT

NVDA

ORCL

Wedbush analyst Daniel Ives has given an Outperform rating to Nvidia, Amazon, Alphabet, Meta Platforms, Salesforce, and Microsoft, predicting a $1 trillion AI-driven opportunity in the tech sector. Nvidia's AI demand is expected to drive growth in the tech industry over the next 12-18 months. The analyst does not expect Microsoft, Salesforce, or Oracle to report comparable quarterly earnings like Nvidia. The AI growth will impact consumer internet starting with Amazon's AWS and Alphabet's GCP.

Portfolio Pulse from Anusuya Lahiri

August 29, 2023 | 7:32 pm

DFS

MCO

NVDA

PATH

TWLO

Ark Invest founder Cathie Wood believes that AI technology will extend to most companies, transforming their value proposition. She mentions Nvidia Corp (NVDA) as a good AI trade and Twilio Inc (TWLO) as an investment opportunity due to its low valuation and promising margins. Wood also highlights UiPath Inc (PATH), a company specializing in robotic process automation, for its potential to optimize business workflows. She notes that AI tech is being integrated into multiple industries, including financial institutions like Moody's Corp (MCO) and Discover Financial Services (DFS).

Portfolio Pulse from AJ Fabino

August 29, 2023 | 7:30 pm