Streetbeat News

Equity Actions

JPM

KHC

VTV

U.S. large-cap value stocks have outperformed growth peers in July, with the Vanguard Value ETF (VTV) outperforming the Vanguard Growth ETF (VUG). Financial stocks such as JP Morgan Chase, Bank of America, Wells Fargo, and Charles Schwab have contributed significantly to this rally. Industrials and energy stocks like Caterpillar, General Electric, Chevron, and ConocoPhillips also contributed favorably. The Federal Reserve is expected to announce a rate hike, causing uncertainty. However, some value stocks like Kraft Heinz, Exxon Mobil, and Lockheed Martin have shown resilience in such scenarios.

Portfolio Pulse from Piero Cingari

July 26, 2023 | 2:39 pm

MELI

A whale investor has taken a bullish stance on MercadoLibre (NASDAQ:MELI), with 58% of investors opening trades with bullish expectations and 41% with bearish. The whale has been targeting a price range from $1150.0 to $1210.0 for MercadoLibre over the last 3 months. B of A Securities downgraded its action to Neutral with a price target of $1350, while Jefferies maintained their Hold rating with a price target of $1300.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 2:31 pm

MDB

A significant amount of unusual options activity has been detected for MongoDB (NASDAQ:MDB), with a majority of investors taking a bearish stance. Whales have been targeting a price range from $350.0 to $460.0 for MongoDB over the last 3 months. The current price of MDB is down -2.01% at $410.55. Keybanc, JMP Securities, and Tigress Financial have maintained their positive ratings on MongoDB, with price targets of $462, $425, and $490 respectively.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 2:31 pm

TSLA

Tesla CEO Elon Musk's rebranding of Twitter to 'X' has raised concerns among analysts about potential indirect impacts on Tesla. Gary Black of Future Fund, which holds Tesla as its second-largest holding, suggested that if 'X' doesn't become cash-flow positive, Musk might sell more Tesla shares to keep operations going. This could have a negative psychological impact and depress Tesla's stock due to increased share supply. Tesla's stock is currently recovering amid concerns about margins, with the launches of Cybertruck and Model 3 refresh seen as potential catalysts.

Portfolio Pulse from Shanthi Rexaline

July 26, 2023 | 2:04 pm

BLNK

F

GM

HMC

TSLA

Seven car companies are reportedly jointly investing in electric vehicle (EV) charging stations. The companies involved are not specified, but the hint suggests that Blink Charging (BLNK), Ford (F), General Motors (GM), Honda (HMC), and Tesla (TSLA) may be involved.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 1:58 pm

WW

An option alert has been issued for WW International, with a sweep of 300 calls at $1.0 for August 4, $12 calls, compared to an open interest of 253. The company is set to announce earnings on August 3, after market close. The reference price is $11.46.

Portfolio Pulse from Charles Gross

July 26, 2023 | 1:54 pm

HBI

Traders are closely watching Hanesbrands (HBI) due to circulating chatter about potential activist involvement from Ryan Cohen.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 1:38 pm

CRM

Private equity firm Haveli and growth equity firm General Atlantic are set to acquire software company Certinia for nearly $1 billion. Salesforce, which owns less than 10% of Certinia, will roll over its stake as part of the deal.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 1:33 pm

RNW

ReNew Power Pvt. Ltd. and Gentari Renewables India Pte. Ltd. have agreed to a 50:50 joint venture to develop renewable assets including solar, wind, and energy storage, aiming for a target of 5 GW in renewable energy capacity. This follows Gentari's initial investment for a 49% equity stake in ReNew's 403 MW Peak Power project earlier this year.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 1:24 pm

PAG

Penske Automotive Group Inc (NYSE:PAG) reported Q2 FY23 sales growth of 8% YoY to $7.47 billion, beating the analyst consensus estimate of $7.13 billion. The growth was driven by strong performance from its automotive and commercial truck operations. However, foreign currency exchange negatively impacted revenue by $23.7 million. The company's gross profit increased 2.9% YoY to $1.27 billion, and the gross margin contracted 90 basis points YoY to 17%. The company repurchased 2.6 million shares for $350.4 million in the quarter.

Portfolio Pulse from Shivani Kumaresan

July 26, 2023 | 1:16 pm