Streetbeat News

Equity Actions

LLY

A significant investor has taken a bearish stance on Eli Lilly (NYSE:LLY), with 75% of recent trades being bearish. The trades suggest a target price range of $350 to $600 for Eli Lilly over the next three months. Despite this, several financial institutions have maintained positive ratings on the company, with price targets ranging from $510 to $615.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 8:01 pm

COF

Capital One Financial Inc. (COF) is trading at $104.81, after a 1.96% decrease. Over the past month, the stock fell by 11.15%, and in the past year, by 7.95%. The company's P/E ratio is 8.14, lower than the Consumer Finance industry average of 29.83. This could indicate that the stock is undervalued or that shareholders do not expect the stock to perform better in the future.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 7:45 pm

WDAY

BMO Capital Markets analyst Daniel Jester has reiterated an Outperform rating on Workday, Inc. (NASDAQ:WDAY), raising the price target to $260 from $240. Jester sees an attractive medium-term risk/reward profile for Workday, anticipating a modest upside in revenue and similar EBIT margin to the first quarter. The analyst's favorable view is due to Workday's ongoing efforts to amplify growth vectors outside of the U.S. and across the financial suite. The company's strong AI-ML position is also expected to bolster the international go-to-market.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2023 | 7:35 pm

IEF

Former U.S. treasury secretary Lawrence Summers predicts that 10-year yields could rise to 4.75% or higher in the next decade due to factors such as inflation, government borrowing needs, and term premium. He also anticipates a robust economy in the short term but does not rule out a possible recession in 2024. Following the release of July's FOMC minutes, 10-year U.S. Treasury yields rose to 4.26%, the highest since September 2007. The iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF) declined 0.3%.

Portfolio Pulse from Piero Cingari

August 16, 2023 | 7:33 pm

MULN

Mullen Automotive (NASDAQ:MULN) has debuted the ultra-high-performance Mullen FIVE RS EV Crossover, which has a top speed of 200 mph and acceleration from 0-60 mph in under 2 seconds. The vehicle will be featured on the upcoming Strikingly Different EV tour. Mullen also implemented a 1-for-9 reverse stock split to regain compliance with Nasdaq's $1.00 minimum bid price requirement. MULN shares are currently trading lower by 2.2%.

Portfolio Pulse from Shivani Kumaresan

August 16, 2023 | 7:12 pm

ARHS

Arhaus, Inc. (NASDAQ:ARHS) may face near-term pressure due to a secondary offering of 12 million shares by its private equity sponsor, Freeman & Spogli, reducing their holding from 22% to 13%. This follows a strong 2Q23 report, with demand trends outpacing peers and benefiting from product introductions, marketing, and lower ocean freight costs. The company's outlook for 2H23 suggests potential upside to sales and EBITDA projections. In 2024, Arhaus is expected to benefit from 11 new stores opening in 2023. However, ARHS shares are currently trading lower by 16.4%.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2023 | 7:05 pm

ON

ON Semiconductor Inc.'s shares are currently trading at $93.14, after a 1.05% decrease. Despite an 8.61% fall over the past month, the stock has risen by 27.15% over the past year. The company's P/E ratio is lower than the aggregate P/E of 41.31 of the Semiconductors & Semiconductor Equipment industry, which could indicate that the stock is undervalued.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 7:01 pm

KHC

TSN

Republicans and Democrats are in agreement that the 'checkoff programs', which promote American dairy, beef and other agricultural industries, need reform. These programs are said to unfairly benefit larger corporations like Kraft Heinz Co and Tyson Foods Inc, leading to consolidation that adversely affects smaller farmers. Despite bipartisan support for reform, some politicians, who receive significant campaign donations from the big-ag industry, oppose the change.

Portfolio Pulse from Aaron Bry

August 16, 2023 | 6:46 pm

COHR

DLO

NVOS

RVLP

SPGC

TIVC

U.S. stocks traded mixed with the Nasdaq Composite and S&P 500 falling, while the Dow traded up. U.S. crude oil inventories declined by 5.96 million barrels, more than market expectations. Novo Integrated Sciences, DLocal Limited, and Tivic Health Systems saw their shares rise significantly. RVL Pharmaceuticals, Sacks Parente Golf, and Coherent Corp. saw their shares drop significantly.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 6:41 pm

DLO

Susquehanna analyst James E. Friedman reiterated a positive rating on DLocal Limited (NASDAQ:DLO), raising the price target to $24 from $18. The company reported Q2 results with $4.4 billion in total payment volume, up 80% YoY and 22% QoQ. DLocal also appointed Pedro Arnt as co-CEO. The analyst raised the 2023 revenue estimate to $636.5 million and the FY23 EPS estimate to $0.57. However, the analyst sees a downside risk of $15 due to potential loss of a top merchant, insourcing payments processing, and regulatory risks.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2023 | 5:48 pm