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Equity Actions

OXY

A significant bullish stance has been taken on Occidental Petroleum (NYSE:OXY) with 39 uncommon options trades spotted. The sentiment of these big-money traders is split between 64% bullish and 35% bearish. The whales have been targeting a price range from $47.5 to $85.0 for Occidental Petroleum over the last 3 months. The price of OXY is up 3.55% at $64.42. Citigroup downgraded its action to Neutral with a price target of $62, while Raymond James, Morgan Stanley, Susquehanna, and Stephens & Co. maintained their ratings with price targets of $75, $60, $72, and $69 respectively.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 5:46 pm

AAPL

AMD

AYX

ENPH

NVDA

ORCL

PANW

PLTR

SMCI

SNOW

Benzinga's options activity scanner has identified significant trading activity in the options of 10 information technology stocks. The stocks include AAPL, AMD, ORCL, PLTR, PANW, SMCI, ENPH, AYX, NVDA, and SNOW. The options activity is characterized by a mix of bullish, bearish, and neutral sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 5:35 pm

AAPL

AMZN

Hedge fund manager Dan Niles predicts a 10% market correction by year-end due to rising oil prices, inflation comparisons, and pressures on yields. He is shorting Apple Inc (AAPL) due to its three quarters of year-on-year declines and high P/E ratio, while betting on Amazon.com, Inc (AMZN) due to its strong revenue growth. Niles also noted a shift in the tech landscape, with big tech investing becoming more selective. He mentioned that AI-driven security threats are causing companies to increase their security spending.

Portfolio Pulse from AJ Fabino

August 04, 2023 | 5:15 pm

RACE

A significant amount of bearish options activity has been observed for Ferrari (NYSE:RACE). Of the 11 unusual trades detected, 81% were bearish and 18% bullish. The total amount for puts was $442,647 and for calls was $203,330. Whales have been targeting a price range from $160.0 to $310.0 for Ferrari over the last 3 months. The current price of RACE is up 0.44% at $315.55. Morgan Stanley maintains an Overweight rating on Ferrari with a price target of $340.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 5:01 pm

CVCO

Cavco Industries' board has approved a $100 million share repurchase program, leading to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 4:55 pm

COUR

ENVA

HCA

The article discusses key economic indicators and earnings reports of three companies. The Federal Reserve has raised interest rates to a 22-year high, but this is in line with long-term trends. The 2Q GDP was up 2.4%, beating the 1.5% estimate. PMI data indicates potential stagflation. Enova International ($ENVA) reported a 22% revenue growth, beating estimates, and loan originations above $1B. HCA Healthcare ($HCA) reported a 7% revenue increase, beating estimates, and raised guidance for revenue, EBITDA, and EPS. Coursera ($COUR) reported a 23% revenue increase, beating guidance and estimates, and raised 2023 revenue guidance.

Portfolio Pulse from Gary Brode

August 04, 2023 | 4:38 pm

DIS

Serial entrepreneur Gary Vee is among the investors backing the revival of SlamBall, a sport combining elements of basketball and football with trampolines. The recent Series A investors also include IA Sports Venture, Eberg Capital, David Blitzer, David Adelman, Michael Rubin, Blake Griffin, Tom Penn, Kevin Nagle, and Accelerate Sports. SlamBall is set for a comeback in 2023, with a two-year television rights deal with ESPN, a unit of The Walt Disney Company. The sport's revival aims to expand beyond its previous state, with long-term plans including more tournaments in the US and international markets, and potentially launching SlamBall teams as franchises.

Portfolio Pulse from Chris Katje

August 04, 2023 | 4:31 pm

BTCUSD

GBTC

Deep Knowledge Investing's July 2023 report discusses key issues affecting the investment landscape. Major institutional firms including BlackRock, Bitwise, Invesco, Deutsche Bank, WisdomTree, and Fidelity have filed for Bitcoin ETFs, which could impact the Grayscale Bitcoin Trust (GBTC). The report also discusses mixed economic data, potential issues with the VIX, the possibility of a BRICS currency, and Japan's financial problems. The report concludes with a positive outlook on the younger generation in finance.

Portfolio Pulse from Gary Brode

August 04, 2023 | 4:26 pm

ITW

Illinois Tool Works Inc. has approved a new share repurchase program that authorizes management to purchase up to $5 billion of the company's common stock.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 4:17 pm

YVR

Liquid Media Group Ltd. (NASDAQ:YVR) has announced a 1-for-4 reverse stock split of its common shares, effective from August 4, 2023. The move is intended to increase the company's per share trading price. The reverse stock split will reduce the number of the company's outstanding shares from 19,313,340 to approximately 4,828,208. The company's shares will continue to be traded on the Nasdaq Capital Market under the symbol 'YVR'.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 4:01 pm