Streetbeat News

Equity Actions

CRWD

Unusual options activity has been observed for CrowdStrike Holdings (NASDAQ:CRWD), with a large position indicating a bullish stance. The options scanner at Benzinga spotted 19 uncommon trades, with 57% bullish and 42% bearish sentiment. The targeted price range for CrowdStrike over the last 3 months is from $138.0 to $170.0. The current price of CRWD is $148.35, up 0.33%. Analysts from Morgan Stanley and Barclays maintain an Overweight rating on CrowdStrike, with price targets of $178 and $173 respectively, while JMP Securities and Needham have downgraded their actions with price targets of $235 and $170 respectively.

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 7:30 pm

PENN

PENN Entertainment shares are trading lower after a filing registered 1.25 million shares available for sale by Dave Portnoy, following the company's deal to sell Barstool back to him. However, Portnoy has indicated he will not sell the shares.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 7:18 pm

PFE

TBIO

KeyBanc Capital Markets analyst Paul Knight has downgraded Telesis Bio, Inc. (TBIO) to Sector Weight from Overweight, despite TBIO slightly exceeding consensus in 2Q23 results and progress in its technical collaboration with Pfizer, Inc. (PFE). The downgrade is due to limited top-line visibility and significant dilution from raising capital through an equity plus-warrant transaction. TBIO expects two more technical milestone achievements of ~$2.5 million each, one in 2H23 and the final in FY24. Pfizer has the option to trigger additional charges if the products meet certain clinical milestones.

Portfolio Pulse from Nabaparna Bhattacharya

August 11, 2023 | 7:09 pm

RMBS

Rambus has announced the initiation of a $100 million accelerated share repurchase program, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 6:18 pm

MOGO

Mogo Inc., a digital payments and financial technology company, has extended its marketing collaboration agreement with Postmedia Network Inc. until December 31, 2024. Under the extended agreement, Mogo will receive discounted access to Postmedia's network. The companies also agreed to amend the exercise price of the 77,778 outstanding warrants of the Company held by Postmedia to $2.79 per share and extend the term of these warrants from January 25, 2023 to September 20, 2025. Mogo will also issue an additional 89,000 warrants.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 6:15 pm

IVCP

HDL Therapeutics, a biotech company with an FDA-approved cardiovascular therapy, is set to merge with Swiftmerge Acquisition Corp. (NASDAQ:IVCP) in a $480 million business combination. The merger will accelerate the commercialization of HDL's innovative cardiovascular disease treatment. Post-merger, Swiftmerge will change its name to HDL Therapeutics, and the combined company will trade on the NASDAQ under the ticker symbol 'HDLT'. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 5:55 pm

ANF

DASH

MGM

NCLH

NIO

PENN

RIVN

ROST

TSLA

The article provides a list of 10 consumer discretionary stocks with whale alerts in today's session. The stocks mentioned are TSLA, MGM, F, RIVN, PENN, ROST, DASH, NCLH, ANF, and NIO. The whale alerts are based on options activity and can indicate potential trading opportunities.

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 5:35 pm

WYNN

Wynn Resorts, Limited (NASDAQ:WYNN) has announced its decision to close its online sports betting and iGaming platform, WynnBET, in several jurisdictions due to the high marketing costs and the lack of iGaming legislation. The company will cease operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia, while operations in Nevada and Massachusetts will continue. Operations in New York and Michigan are under review.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 5:33 pm

SGML

Sigma Lithium has achieved its planned production targets at its Greentech Industrial Plant in Brazil and is on track to produce 130,000 tonnes of Chemical Grade Triple Zero Green Lithium by December 2023. The company expects to reach an annualized production of 270,000 tonnes by the end of Q3 2023. Sigma Lithium has also made significant progress in its sustainability initiatives and has upgraded its senior leadership. The company ended Q1 2023 with C$92.9 million in cash and cash equivalents.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 5:27 pm

ACHR

STLA

UAL

Archer Aviation Inc (ACHR) has received a $215 million equity investment from Boeing Co (BA), Stellantis N.V. (STLA), and United Airlines Holdings Inc (UAL), increasing its total funding to over $1.1 billion. Archer also received FAA approval to begin flying its Midnight eVTOL aircraft and settled litigation with Boeing and Wisk Aero. The company is on track to deliver its first eVTOL aircraft to the Department of Defense. Archer's Q2 operating expense was $181.4 million and it expects Q3 operating expenses of $42 million - $52 million.

Portfolio Pulse from Shivani Kumaresan

August 11, 2023 | 5:10 pm