Streetbeat News

Equity Actions

GSK

GSK Inc.'s share price is currently at $34.12, after a 1.46% drop. Over the past month, the stock increased by 0.10%, but decreased by 15.89% over the past year. The company's P/E ratio is 10.65, lower than the aggregate P/E ratio of 41.96 in the Pharmaceuticals industry, which could indicate that the stock is undervalued or has weak growth prospects.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 1:40 pm

QS

QuantumScape has announced a $300 million proposed public offering, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:40 pm

MIRA

Mira Pharmaceuticals' IPO shares have started trading at $6.99 per share, slightly below the IPO price of $7 per share.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:39 pm

NOC

Northrop Grumman Corporation (NYSE:NOC) has opened a Hypersonics Capability Center (HCC) in Elkton, Maryland. The facility is designed for large-scale manufacturing of air-breathing propulsion, including ramjet and scramjet propulsion, and will support the U.S. Department of Defense’s growing demands for long range, rapid response weapons. The company is also investing in a new missile integration facility at Allegany Ballistics Laboratory in West Virginia and expanding solid rocket motor production at its facility in Promontory, Utah.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:38 pm

BA

A significant bearish stance on Boeing (NYSE:BA) has been observed through unusual options activity. The sentiment among big-money traders is split between 38% bullish and 61% bearish. The whales have been targeting a price range from $160.0 to $290.0 for Boeing over the last 3 months. The price of BA is up 0.62% at $232.81. Analysts from JP Morgan, Citigroup, Morgan Stanley, and Wells Fargo maintain positive ratings on Boeing, while RBC Capital downgraded its action to Sector Perform.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 1:38 pm

CMG

A significant bearish stance has been taken on Chipotle Mexican Grill (NYSE:CMG) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is 30% bullish and 70% bearish. The whales have been targeting a price range from $1440.0 to $2220.0 for Chipotle over the last 3 months. Analysts from Wells Fargo, Oppenheimer, Truist Securities, Stephens & Co., and Morgan Stanley have maintained their positive ratings on the stock, with price targets ranging from $2010 to $2400.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 1:35 pm

QS

QuantumScape Corp (NYSE:QS) shares are trading lower after the company proposed a $300 million public offering. The company also intends to grant the underwriters an option to purchase up to an additional $45 million worth of stock. The proceeds will be used for working capital and general corporate purposes. QuantumScape reported Q2 financial results last week, with $232.84 million in cash and equivalents. The company maintained its full-year outlook for capital expenditures of $100 million to $150 million and cash operating expenses of $225 million to $275 million.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 1:28 pm

LUCY

Innovative Eyewear, Inc. has successfully conducted a secondary offering to raise capital for the launch of smart eyewear collections under its new partnerships with Nautica, Eddie Bauer, and Reebok. The Nautica and Lucyd Safety smart eyewear lines are expected to launch in Q4 2023, while the Eddie Bauer and Reebok lines are expected to launch in early Q1 2024. The company also plans to make further enhancements to the Lucyd app, which powers seamless connection to ChatGPT on all of its eyewear.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:27 pm

SPY

USO

VGK

Saudi Arabia has announced that its voluntary cut in oil production can be extended and deepened, according to the state news agency.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:23 pm

BRK

Warren Buffett, the billionaire investor, has stated that he is not concerned about the recent U.S. rating downgrade by Fitch. He said that it does not change anything that Berkshire Hathaway is doing in the market. Despite the downgrade, Berkshire bought $10 billion worth of Treasuries and plans to continue doing so. Buffett also stated that he does not agree with everything the federal government is doing.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 1:22 pm