Streetbeat News

Equity Actions

PG

A significant bullish stance has been taken on Procter & Gamble (NYSE:PG) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 63% bullish and 36% bearish. The whales have been targeting a price range from $130.0 to $160.0 for Procter & Gamble over the last 3 months. Barclays, Deutsche Bank, and B of A Securities have maintained their positive ratings on Procter & Gamble, with price targets of $166, $173, and $175 respectively, while Morgan Stanley has downgraded its action to Overweight with a price target of $174.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:46 pm

FXI

REMX

VNM

Rare earth magnet companies are turning to Vietnam as a hedge against China. This move is due to the ongoing trade war between the US and China, which has led to increased tariffs and uncertainty in the market.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 2:46 pm

SCHW

A significant bearish stance has been taken on Charles Schwab (NYSE:SCHW) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is 75% bearish and 25% bullish. The whales have been targeting a price range from $50.0 to $60.0 for Charles Schwab over the last 3 months. Piper Sandler and Morgan Stanley have maintained their Overweight and Equal-Weight ratings on Charles Schwab, with price targets of $86 and $71 respectively.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:16 pm

AMTD

AMTD IDEA Group (NYSE:AMTD) has announced a new share repurchase program, authorizing the repurchase of up to $20 million of its American depositary shares or ordinary shares until December 29, 2023. The repurchases will be funded from the company's existing cash balance.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 1:39 pm

VHC

VirnetX Holding Corporation (NYSE:VHC) has announced an equity investment in OmniTeq, a provider of military and government AI solutions. VirnetX will become the exclusive provider of cybersecurity solutions for OmniTeq's AI offerings. OmniTeq will sell VirnetX's Matrix and War Room products to their customers and will also participate in selling VirnetX Matrix and War Room secured Samsung display products. The partnership aims to merge artificial intelligence, machine learning, and cybersecurity to protect clients' sensitive data.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 1:38 pm

FOX

FOXA

RUM

A new poll shows former President Donald Trump leading among Republican voters ahead of the 2024 election, but with a narrower lead in Iowa compared to national surveys. The poll results come ahead of a Republican presidential primary debate that will air on Fox Corporation’s Fox News and stream on Rumble Inc. Trump has announced he will skip the debate, which could potentially impact his lead in future polls.

Portfolio Pulse from Chris Katje

August 22, 2023 | 1:31 pm

GS

JPM

Healthcare software firm Waystar Inc is reportedly planning an initial public offering (IPO) that could value the company at up to $8 billion. The company's current owners, private equity firm EQT AB and the Canada Pension Plan Investment Board, have enlisted Goldman Sachs Group Inc and JPMorgan Chase & Co to guide them through the IPO process. The IPO is expected to take place later this year or early next year, depending on market conditions.

Portfolio Pulse from Vandana Singh

August 22, 2023 | 1:24 pm

HKD

AMTD Digital Inc. has announced a $30 million share repurchase program. The move is aimed at returning value to shareholders and shows confidence in the company's future prospects.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 1:16 pm

AVAV

AeroVironment, Inc. has announced its plan to acquire Tomahawk Robotics, a leader in AI-enabled robotic control systems, for a total purchase price of $120 million, to be paid in a mix of cash and stock. The acquisition will allow for deeper integration of both companies' technology, leading to enhanced interoperability and interconnectivity of unmanned systems. Tomahawk Robotics will become part of the small UAS (SUAS) business unit within AeroVironment's Unmanned Systems segment.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 1:11 pm

BRQS

Borqs Technologies, a global provider of 5G wireless and IoT solutions, has been granted an extension by the Committee on Foreign Investment in the United States (CFIUS) to complete the divestment of its subsidiary, Holu Hou Energy LLC (HHE), by January 1, 2024. The company is considering a share buyback program and/or a special dividend payout after the divestment.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 1:02 pm