Streetbeat News

Equity Actions

A significant bearish stance has been taken on Estee Lauder Cos (NYSE:EL) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 33% bullish and 66% bearish. The price of EL is down -3.09% at $151.85. Wells Fargo and Telsey Advisory Group have maintained their Overweight and Outperform ratings on Estee Lauder Cos, respectively, with price targets of $200 and $210. Citigroup and Piper Sandler have downgraded their actions to Neutral with a price target of $195, while B of A Securities has maintained their Neutral rating with a price target of $175.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 4:01 pm

NKLA

Nikola Corporation has announced an agreement to sell up to $325 million in aggregate principle amount of senior convertible notes, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 3:58 pm

CABO

Cable One has increased its quarterly dividend and appointed P. Robert Bartolo to the board of directors, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 3:47 pm

QCOM

Unusual options activity has been observed for Qualcomm (NASDAQ:QCOM), with a large bearish position being taken. The overall sentiment of these big-money traders is split between 43% bullish and 56% bearish. The price target for Qualcomm over the last 3 months has been between $95.0 to $135.0. Analysts from Susquehanna, Morgan Stanley, Daiwa Capital, and Piper Sandler have maintained positive ratings on Qualcomm, with price targets ranging from $125 to $145.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 3:46 pm

TSHA

GordonMD® Global Investments LP has participated in a $150 million private placement financing for Taysha Gene Therapies, Inc. (NASDAQ:TSHA). The funds will be used to fund clinical development of TSHA-102 in Rett syndrome and support program activities for TSHA-120 in giant axonal neuropathy (GAN).

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 3:30 pm

AMZN

DIS

KHC

META

MPW

ODFL

SCU

TSLA

WMT

Meta Platforms is preparing to launch a desktop version of Threads to compete with Elon Musk's X. Amazon has restarted its external shipping service, challenging FedEx and UPS. High-profile investors have presented a competing bid for Sculptor Capital Management. Kraft Heinz plans to offer Lunchables to school cafeterias. Medical Properties Trust's deal with Prospect Medical Holdings is on hold. Tesla has suffered a data breach affecting over 75,000 people. Old Dominion Freight Line has offered $1.5 billion to acquire Yellow Corp's terminals. General Motors' Cruise is under investigation after a collision. DuPont is in talks to sell its Delrin resins unit. Disney is in a legal battle with Florida Governor Ron DeSantis. Goldman Sachs faces potential lawsuits over the 1MDB scandal. Citigroup is considering splitting its largest division. Walmart and Centric Brands are examining their Cambodian supply chains. US Steel denies union veto rights in company sale.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 3:17 pm

ACHR

ARKK

STLA

UAL

Archer Aviation Inc. (ACHR) shares are moving higher due to positive business updates and investments. The company's Midnight eVTOL aircraft received its Special Airworthiness Certificate from the FAA and will begin flight test operations. Archer also announced a $215 million equity investment and collaboration with Stellantis NV (STLA), Boeing Co. (BA), and United Airlines Holdings (UAL). Cathie Wood's ARKK Innovation ETF (ARKK) purchased more than $20 million worth of ACHR shares.

Portfolio Pulse from Erica Kollmann

August 21, 2023 | 3:11 pm

SGBX

Safe & Green Holdings has announced the date for its subsidiary, Safe and Green Development Corporation, to spin-off and list on the Nasdaq. This news has led to an increase in the trading of Safe & Green Holdings shares.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 3:03 pm

CRM

A significant bullish stance has been taken on Salesforce (NYSE:CRM) as evidenced by unusual options activity. The activity was split between 50% bullish and 50% bearish, with 8 puts and 4 calls. The targeted price range for Salesforce over the last 3 months has been $180.0 to $240.0. Mizuho maintains a Buy rating on Salesforce with a price target of $250, while Morgan Stanley downgraded its action to Equal-Weight with a price target of $278.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 3:00 pm

CMPS

MNMD

PSIL

A recent study by the Federal Reserve indicates that cannabis and psychedelics consumption has reached all-time highs in 2022, particularly among adults aged 35-50. In other news, COMPASS Pathways (NASDAQ:CMPS) has entered into a securities purchase agreement for an initial $125 million and a potential additional $160 million, while MindMed (NASDAQ:MNMD) has secured a $50 million senior secured credit facility with K2 HealthVentures. The AdvisorShares Psychedelics ETF (NYSE:PSIL) opened at $1.8 on August 14, slightly below prior openings.

Portfolio Pulse from Lara Goldstein

August 21, 2023 | 2:55 pm