Streetbeat News

Equity Actions

SCI

Service Corporation International (SCI) has revised its FY23 EPS guidance to $3.40-$3.60 from $3.45-$3.75 due to the inflationary environment and higher than expected interest rates. The company also raised its adjusted operating cash flow guidance to $830 million to $880 million from $740 million to $800 million, reflecting strong operating cash flow and an expected decrease in cash taxes due to a change in tax accounting method.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:23 am

SE

A whale investor has taken a bullish stance on Sea (NYSE:SE), with 71% of the investors opening trades with bullish expectations and 28% with bearish. The trades include 2 puts for a total amount of $425,800 and 12 calls for a total amount of $720,288. The price target for Sea over the last 3 months ranges from $45.0 to $105.0. UBS has upgraded its action to Buy with a price target of $86.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:23 am

CVS

A significant bullish stance has been taken on CVS Health (NYSE:CVS) by a large investor, as indicated by unusual options trading activity. The sentiment among these big-money traders is 71% bullish and 28% bearish. The targeted price range for CVS Health over the last 3 months is from $35.0 to $90.0. Analysts from JP Morgan, Barclays, and Mizuho have maintained their positive ratings on CVS Health, with price targets of $106, $89, and $88 respectively.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:22 am

MRVL

A significant bearish stance has been taken on Marvell Tech (NASDAQ:MRVL) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 42% bullish and 57% bearish. The price of MRVL is up 1.31% at $65.98. Barclays, Keybanc, and Stifel have maintained their positive ratings on Marvell Tech with price targets of $75 and $80, while Wolfe Research downgraded its action to Outperform with a price target of $80.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:15 am

ADMP

Adamis Pharmaceuticals Corporation's stock price has more than doubled, following the sale of assets related to its discontinued pharmacy compounding business to FarmaKeio Pharmacy Network for around $2 million. The company also announced a research grant to the Leiden University Medical Center Anesthesia and Pain Research Unit. Additionally, Adamis merged with DMK Pharmaceuticals Corporation and announced a 1-for-70 reverse stock split in May.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 10:14 am

JD

A significant bearish stance has been taken on JD.com (NASDAQ:JD) by a large investor, as noticed by Benzinga's options scanner. The overall sentiment of these big-money traders is split between 29% bullish and 70% bearish. The whales have been targeting a price range from $30.0 to $61.26 for JD.com over the last 3 months. The price of JD is currently down -2.92% at $40.1. Benchmark has maintained their Buy rating on JD.com, with a price target of $73.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:12 am

ADMP

AMSC

CAT

POL

TGTX

YELL

ZI

The Dow Jones gained over 50 points, while NASDAQ and S&P 500 fell. Caterpillar Inc reported better-than-expected Q2 results with a 21.6% YoY revenue increase to $17.32 billion, beating the consensus of $16.50 billion. Yellow Corporation shares shot up 117% on news of bankruptcy preparations. American Superconductor Corporation shares rose 63% amid claims of a new superconductor. Adamis Pharmaceuticals shares gained 174% after being listed on the Regulation SHO 'threshold security' list. Polished.com shares dropped 68% after announcing restated and delayed financial statements. TG Therapeutics shares were down 47% after reporting Q2 FY23 Briumvi net sales of $16 million in the U.S. ZoomInfo Technologies shares fell 26% after issuing weak guidance.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 10:12 am

BKNG

A significant bearish stance has been taken on Booking Holdings (NASDAQ:BKNG) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 29% bullish and 70% bearish. The whales have been targeting a price range from $1500.0 to $4300.0 for Booking Holdings over the last 3 months. The current price of BKNG is down -1.23% at $2934.39. Analysts from Barclays, Jefferies, Oppenheimer, Morgan Stanley, and JMP Securities have maintained their ratings on Booking Holdings with varying price targets.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:11 am

TMUS

A significant amount of unusual options activity has been observed for T-Mobile US (NASDAQ:TMUS), with a bearish stance being more prevalent. Of the 21 strange trades detected, 57% were bearish and 42% bullish. The total amount for puts was $680,707 and for calls, $542,973. Whales have been targeting a price range from $130.0 to $150.0 for T-Mobile US over the last 3 months. TD Cowen has maintained their Outperform rating on T-Mobile US with a price target of $210, while Benchmark downgraded its action to Buy with a price target of $200.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:11 am

RH

Telsey Advisory Group analyst Joseph Feldman has reiterated a Market Perform rating on RH (NYSE:RH) and raised the price target from $225 to $365. The revised EPS estimates and 12-month price target reflect RH's share repurchases since its 1Q23 report on May 25. The analyst sees RH's plans to open its first international store in England in June and accelerate new product introductions in 2H23 as positive developments. However, the housing market remains challenged and consumers continue to gravitate to spending on services and travel.

Portfolio Pulse from Shivani Kumaresan

August 04, 2023 | 10:05 am