Streetbeat News

Equity Actions

META

Needham analyst Laura Martin reiterated an Underperform rating for Meta Platforms Inc (NASDAQ:META), citing challenges from TikTok. Martin suggests that Meta's efforts to regain creators, users, and advertisers from TikTok could lead to lower ROICs and EBITDA margins. She also pointed out that TikTok's normalized margins at maturity are 30%-50% below Meta's historical EBITDA margins. Additionally, Meta's valuation has dropped to 3.4x FY24 revenue due to its Metaverse aspirations and market share losses to TikTok.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 11:52 am

ACT

Enact Holdings reported better-than-expected Q2 adjusted EPS results and announced a new $100 million share repurchase program, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:49 am

DDOG

A significant amount of bearish options activity has been observed for Datadog (NASDAQ:DDOG), with 70% of the investors opening trades with bearish expectations. The total amount for puts is $1,640,627 and for calls is $265,292. Whales have been targeting a price range from $55.0 to $170.0 for Datadog over the last 3 months. The current price of DDOG is down -7.58% at $106.24. Analysts have mixed opinions with price targets ranging from $100 to $140.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:47 am

BABA

COP

NOC

SLB

CNBC's Halftime Report discussed final trades involving Alibaba, Schlumberger N.V., Northrop Grumman, and ConocoPhillips. The ticker symbols for these companies are BABA, SLB, NOC, and COP respectively.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:47 am

ADMP

CMBM

DRVN

IDAI

VRT

WAVD

U.S. stocks were lower with the Nasdaq Composite falling over 250 points. U.S. crude oil inventories fell by 17.049 million barrels, the biggest decline since 1982. WaveDancer, T Stamp, and Vertiv Holdings shares rose due to a government contract, a patent, and upbeat quarterly results respectively. Adamis Pharmaceuticals, Cambium Networks, and Driven Brands shares fell due to public offering pricing, worse-than-expected Q2 results, and poor FY23 guidance respectively.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 11:39 am

GOOG

GOOGL

MSFT

Scott Shellady, known as the 'Cow Guy', expressed skepticism about the current market situation, citing increasing corporate bankruptcies, auto loan delinquencies, foreclosures, and a rise in layoffs. He also warned of a potential AI bubble, advising investors to sell when even the most hesitant investors enter the market. Despite his overall bearish stance, Shellady sees investment opportunities in stable tech companies like Microsoft and Alphabet.

Portfolio Pulse from AJ Fabino

August 04, 2023 | 11:37 am

ORCL

A significant amount of unusual options activity has been observed for Oracle (NYSE:ORCL), with a split sentiment of 50% bullish and 50% bearish. The options trades have targeted a price range of $100 to $155 for Oracle over the last three months. Piper Sandler has downgraded its action to Overweight with a price target of $130.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:37 am

SNOW

A significant number of investors have taken a bearish stance on Snowflake (NYSE:SNOW), with 58% of detected trades being bearish. The price target for Snowflake over the last 3 months has been between $160.0 to $260.0. The current price of SNOW is down -5.28% at $167.26. Several experts have upgraded their ratings on Snowflake, with price targets ranging from $173 to $220.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:36 am

CVX

A significant bearish stance has been taken on Chevron (NYSE:CVX) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 36% bullish and 63% bearish. Over the last three months, the price target for Chevron has been between $110.0 and $175.0. The price of CVX is currently down by 2.17% at $158.77. Several financial institutions have maintained their ratings on Chevron, with price targets ranging from $165 to $202.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:36 am

AGFAF

Agra Ventures Ltd. (OTCPK:AGFAF) (CSE:AGRA) is consolidating its issued and outstanding share capital, changing its name to “Digicann Ventures Inc.” and changing its stock ticker symbol on the Canadian Securities Exchange to “DCNN”. The consolidation will be on the basis of every 25 old common shares into one new common share, effective from August 8, 2023. The company's new name and symbol will also take effect on this date.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 11:27 am