Streetbeat News

Equity Actions

TTD

Trade Desk (NASDAQ:TTD) has seen unusual options activity, with 60% of investors opening trades with bullish expectations and 40% with bearish. The total amount for puts is $878,032 and for calls is $184,653. Whales have been targeting a price range from $70.0 to $120.0 for Trade Desk over the last 3 months. The current price of TTD is down -0.92% at $90.42. Needham maintains a Buy rating with a price target of $100, while Morgan Stanley maintains an Overweight rating with a price target of $105.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 9:53 am

CNBS

POTX

THCX

TOKE

YOLO

The potential rescheduling of cannabis and removal of Tax Rule 280E could boost profits for U.S. businesses, but Zuanic and Associates' report warns of complexities and overlooked consequences. Rescheduling medical marijuana (MMJ) could lead to stricter FDA regulations, limit prescription accessibility, and invite pharmaceutical companies into the industry. For Multi-State Operators (MSOs), rescheduling could alleviate the 280E burden but also introduce regulatory challenges. In 2022, 16 MSOs paid $761 million in corporate income tax, while the entire industry paid $1.2-1.5 billion.

Portfolio Pulse from Nicolás Jose Rodriguez

August 04, 2023 | 9:53 am

BABA

A significant amount of unusual options activity has been detected for Alibaba Group Holding (NYSE:BABA), with a bearish stance being taken by a 'whale' investor. Of the 55 strange trades detected, 49% were opened with bullish expectations and 50% with bearish. The price target range for Alibaba over the last 3 months has been between $60.0 to $230.0. The stock is currently down by 1.99% at $100.13. Baird has downgraded its action to Outperform with a price target of $115, while B of A Securities maintains a Buy rating with a price target of $137.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 9:52 am

ABVC

AMSC

NKLA

POL

TGTX

U.S. stocks were mixed with the Dow slightly up and the NASDAQ and S&P 500 down. The ISM Manufacturing PMI rose to 46.4 in July, slightly below market estimates. ABVC BioPharma, American Superconductor Corporation, and Nikola Corporation saw significant stock increases, while Polished.com, TG Therapeutics, and ZoomInfo Technologies saw significant decreases. Gold and oil prices fell.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 9:50 am

CYBN

Psychedelics company Cybin Inc. has announced an overnight marketed public offering of its units, aiming to raise $8.25 million. The company has set the price at $0.34 per unit, with each unit equating to one common share and one common share purchase warrant. The offering is expected to close on August 4, 2023. Cybin has also suspended its prior purchase agreement with Lincoln Park Capital Fund, under which it could issue common shares for up to $30 million.

Portfolio Pulse from Lara Goldstein

August 04, 2023 | 9:47 am

UBER

Uber's CEO, during an interview on Bloomberg TV, stated that he sees autonomous trucks as a significant part of the company's future. This indicates a potential shift in Uber's business model towards automation and logistics.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:46 am

NNDM

SSYS

Nano Dimension's special partial tender offer for Stratasys shares has expired as the offer condition was not met. Nano, which owns 14.1% of Stratasys, had offered to purchase between 31.9% and 36.9% of Stratasys shares for $25.00 per share. However, the Stratasys Board's refusal to redeem its shareholder rights plan ('poison pill') prevented Nano from completing the offer. Nano has now withdrawn its director nominees for the Stratasys Board and is considering selling its existing 14.1% stake in Stratasys.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:41 am

IQV

IQVIA Holdings, Inc. reported Q2 sales of $3.728 billion, up 5.3% Y/Y, beating the consensus of $3.704 billion. The company also reported Q2 adjusted EPS of $2.43, beating the consensus of $2.37. However, the company reduced its FY23 guidance and its shares are down 3.23% at $216.53. The company also announced an additional $2 billion share repurchase authorization, bringing the total remaining authorization to $2.736 billion.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 9:40 am

PINS

A significant volume of Pinterest's (PINS) August 25 $30 call options were purchased above the ask price. The volume of 3820 contracts at $1.34 each is significantly higher than the open interest of 271 contracts, indicating strong bullish sentiment.

Portfolio Pulse from Charles Gross

August 04, 2023 | 9:40 am

KTOS

Zacks Surprise Trader has reportedly purchased stock in Kratos Defense & Security Solutions (KTOS).

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:39 am