Streetbeat News

Equity Actions

SIMO

Silicon Motion Technology (SIMO) has an option alert for Sep 15 $95 calls at the ask price of $0.35 for 1000 shares, compared to an open interest of 1434 shares. The reference price is $55.9.

Portfolio Pulse from Charles Gross

July 27, 2023 | 3:05 pm

SQ

A whale investor has taken a bearish stance on Block (NYSE:SQ), with 63% of the investors opening trades with bearish expectations. The whales have been targeting a price range from $72.0 to $90.0 for Block over the last 3 months. The price of SQ is up 2.19% at $79.11. Jefferies, Truist Securities, and Keybanc have maintained their Buy and Overweight ratings on Block, with price targets of $90 and $85 respectively.

Portfolio Pulse from Benzinga Insights

July 27, 2023 | 3:05 pm

GM

A significant bullish stance has been taken on General Motors (NYSE:GM) by an unknown entity, with 10 options trades spotted, split 50% bullish and 50% bearish. The price target for GM over the last 3 months has been between $31.0 to $40.0. The current price of GM is up 2.36% at $39.19. Barclays, Wells Fargo, Morgan Stanley, and Mizuho have maintained their ratings on GM with price targets of $46, $32, $41, and $40 respectively.

Portfolio Pulse from Benzinga Insights

July 27, 2023 | 2:32 pm

TSM

A significant bullish stance has been taken on Taiwan Semiconductor (NYSE:TSM) as indicated by unusual options activity. The sentiment among these big-money traders is split between 54% bullish and 45% bearish. The whales have been targeting a price range from $70.0 to $140.0 for Taiwan Semiconductor over the last 3 months. Susquehanna maintains a Positive rating on TSM with a price target of $135, while Needham downgraded its action to Buy with a price target of $118.

Portfolio Pulse from Benzinga Insights

July 27, 2023 | 2:31 pm

UPC

Universe Pharmaceuticals INC (NASDAQ:UPC) has announced a 6-for-1 share consolidation. The consolidation will be effective at 5:00 p.m. Cayman Islands time on July 27, 2023. Post-consolidation, the company's ordinary shares will trade on the Nasdaq Global Market under the same symbol 'UPC' but with a new CUSIP number. No fractional shares will be issued, and all fractional shares will be rounded up to the whole number.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:16 pm

AAPL

AMZN

DJIA

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

The Global X Dow 30 Covered Call ETF (DJIA) has shown a winning streak for 13 consecutive days, similar to pre-crash streaks of the past. The DJIA is leading other indexes during this streak, despite not containing all of the 'magnificent seven' stocks that have led the rally, including Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla. Strong economic data has been released, including Q2 GDP-Adv at 2.4% vs. 1.6% consensus, and initial jobless claims at 221K vs. 233K consensus. The European Central Bank has increased interest rates by 25 basis points.

Portfolio Pulse from The Arora Report

July 27, 2023 | 2:09 pm

URGN

UroGen Pharma Ltd. has announced a private placement of 12,579,156 shares at $9.54 per share, raising $120 million in capital.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:57 pm

HSY

Hershey Co (NYSE:HSY) reported Q2 FY23 sales growth of 5% YoY to $2.49 billion, slightly missing the consensus of $2.50 billion. The company's North America Confectionery segment net sales rose 4.4% YoY, and International segment sales increased 8.5%. Gross margin expanded to 45.5%, and gross profit rose 13.2% YoY. Adjusted EPS of $2.01 beat the analyst consensus of $1.91. The company also announced a 15% increase in quarterly dividends. Hershey raised its FY23 adjusted EPS growth outlook and expects net sales growth of 8%.

Portfolio Pulse from Shivani Kumaresan

July 27, 2023 | 1:51 pm

GOOG

GOOGL

META

MSFT

NVDA

QQQ

SMH

SOXX

SPY

Nvidia Corp's stock is trading higher, boosted by Meta Platforms Inc's positive Q2 results. Meta's revenue was $32 billion, up 11% YoY, beating the Street consensus estimate of $31.12 billion. This has added to the Wall Street momentum driving up tech sector stock prices. Microsoft Corp and Alphabet Inc's positive earnings results earlier this week also had a positive impact. Semiconductor ETFs like VanEck Semiconductor ETF and iShares Semiconductor ETF are trading higher by over 2% today. Broader index ETFs like SPDR S&P 500 and Invesco QQQ Trust, Series 1 are trading higher by ~1%.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:38 pm

INVO

INVO BioScience has announced a 1-for-20 reverse stock split, which will be effective pre-market opening on July 28.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:28 pm