Streetbeat News

Equity Actions

ORCL

A significant bearish stance has been taken on Oracle (NYSE:ORCL) as indicated by unusual options activity. The sentiment among big-money traders is split between 43% bullish and 56% bearish. Whales have been targeting a price range from $75.0 to $160.0 for Oracle over the last 3 months. The price of ORCL is up 1.35% at $120.5. Next earnings are expected to be released in 55 days.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 5:15 pm

SPOT

A significant bearish stance has been taken on Spotify Technology (NYSE:SPOT) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 35% bullish and 64% bearish. The price range targeted by these investors for Spotify over the last 3 months is from $95.0 to $185.0. Wells Fargo, Raymond James, and Goldman Sachs have maintained their ratings on Spotify, while Morgan Stanley has downgraded its action to Overweight.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 5:15 pm

META

TWTR

Twitter Inc, under Elon Musk's leadership, has reportedly not provided severance pay to its laid-off employees in Ghana, part of Musk's cost-cutting measures. Since Musk's acquisition of Twitter for $44 billion in October, the platform has seen a decline in advertising revenue and continues to generate negative cash flow. Twitter also faces competition from Meta Platforms Inc's Threads platform.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 4:41 pm

XLE

The Energy Select Sector SPDR Fund (NYSE:XLE) has seen a rise in breadth thrusts due to improving performance of individual energy stocks, despite low sentiment. Historically, this has been bullish for energy. There have been three major advances in XLE since 2012 with this setup.

Portfolio Pulse from Thrasher Analytics

July 18, 2023 | 4:16 pm

ARKK

The ARK Innovation Fund (NYSE:ARKK) has seen a significant turnaround in 2023, gaining over 60% year-to-date, outperforming both the S&P 500 and the Nasdaq 100. This is largely due to the renewed strength in its top holdings, particularly Tesla and Coinbase, which have seen strong performance this year. However, not all holdings have performed well, with Zoom and Block still appearing to be in a downward spiral.

Portfolio Pulse from David Keller

July 18, 2023 | 4:07 pm

TOST

Josh Brown, a CNBC contributor, has purchased more shares of Toast Inc. (TOST).

Portfolio Pulse from Charles Gross

July 18, 2023 | 4:03 pm

BKNG

A significant number of investors have taken a bearish stance on Booking Holdings (NASDAQ:BKNG), with 70% of detected trades showing bearish expectations. The targeted price range for Booking Holdings over the last 3 months has been $2100.0 to $4100.0. Barclays maintains an Overweight rating on the company with a price target of $3130, while Wedbush and JMP Securities have downgraded their actions with price targets of $3060 and $3000 respectively.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 4:01 pm

PCG

Pacific Gas and Electric Company (PG&E) is launching two new programs, Empower EV and Multifamily Housing and Small Business EV Charger, to improve access to electric vehicle (EV) charging infrastructure in underserved communities. The programs offer no-cost EV charging infrastructure and resources to help cover the costs of installing chargers at homes, multifamily housing units, nonprofit organizations, and small businesses in low- and moderate-income communities. The Empower EV program offers income-eligible customers up to $2,500 in incentives to help cover the cost of installing EV-charging equipment at their single-family residences.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 3:56 pm

FCX

A significant investor has taken a bearish stance on Freeport-McMoRan (NYSE:FCX), with 80% of recent trades being bearish. The price target for the company over the last 3 months has been between $25.0 to $42.0. The company's stock price is currently up 0.27% at $40.57. Bernstein and Citigroup have downgraded their ratings to Market Perform and Neutral respectively, while Morgan Stanley maintains an Equal-Weight rating.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 3:46 pm

PFE

Pfizer, Inc. (NYSE:PFE) and Flagship Pioneering have agreed to invest $100 million in developing ten single-asset programs targeting diseases with limited treatment options. Each company will invest $50 million upfront. Pfizer will fund and have the option to acquire each selected development program. Flagship and its bioplatform companies could receive up to $700 million in milestones and royalties for each successfully commercialized program.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 3:43 pm