Streetbeat News

Equity Actions

SNBR

Zacks SurpriseTrader has reportedly purchased stock in Sleep Number (SNBR).

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 3:57 pm

BAC

A significant number of investors have taken a bullish stance on Bank of America (NYSE:BAC), with 56% of recent unusual options trades being bullish and 43% bearish. The trades indicate a target price range of $24.0 to $35.0 for Bank of America over the next three months. The current price of BAC is $32.6, up 1.95%. Analysts from Morgan Stanley, RBC Capital, Oppenheimer, and BMO Capital have maintained their ratings on BAC, with price targets ranging from $33 to $52.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 3:15 pm

JNVR

Janover Inc (NASDAQ:JNVR) is set to start trading on NASDAQ on July 25. The company is offering shares at an expected price between $4.00 and $6.00 per share with an insider lock-up period of 180 days ending on January 21, 2024. Janover Inc is a B2B fintech marketplace connecting commercial property borrowers and lenders.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 3:00 pm

APLD

Applied Digital (APLD) has an option alert for January 19 $14 calls at the ask price of $2.0. This is against an open interest of 159, with the reference price at $9.46.

Portfolio Pulse from Charles Gross

July 24, 2023 | 2:47 pm

ALV

Autoliv (NYSE:ALV) reported a 29.33% decrease in earnings from Q1, but a 5.7% increase in sales to $2.63 billion. The company's Return on Invested Capital (ROIC) for Q2 was 2.64%, indicating effective capital allocation. Autoliv's Q2 earnings per share of $1.93 beat analyst predictions of $1.43.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 2:45 pm

BABA

Alibaba has announced that it will not participate in affiliate Ant Group's share buyback program. The buyback plan values Ant Group at a nearly 70% discount from its proposed IPO price in 2020. Alibaba has decided not to sell any shares to maintain its shareholding in Ant Group.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 2:41 pm

XXII

22nd Century Group, Inc. (NASDAQ:XXII) has appointed John Miller as interim CEO and implemented a $15 million annualized cost reduction initiative. The company has also secured an additional $11.7 million in gross proceeds from a registered direct financing. The company's shares were trading 40.0% lower at $2.91 per share.

Portfolio Pulse from Vuk Zdinjak

July 24, 2023 | 2:26 pm

CSCO

Cisco Systems Inc.'s stock is currently trading at $52.77, marking a 0.26% increase. Over the past month, the stock has risen by 3.75% and by 20.39% over the past year. The company's P/E ratio is 18.86, lower than the Communications Equipment industry average of 35.02, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 2:15 pm

AEON

PMGM

Priveterra Acquisition Corp (PMGM) has completed its business combination with AEON Biopharma, changing its name to AEON Biopharma and commencing trading on the NYSE under the ticker 'AEON'. AEON also announced the closing of funding arrangements of up to $125 million, which will help fund its clinical development of ABP-450 to treat various medical conditions.

Portfolio Pulse from Adam Eckert

July 24, 2023 | 2:14 pm

OPTT

PGNT

Paragon Technologies (PGNT), a 4% shareholder of Ocean Power Technologies (OPTT), has demanded that OPTT's board return all excessive compensation to the company over the past ten years. Paragon criticizes OPTT's board for its financial losses, rapidly degrading balance sheet, and excessive board compensation despite the company's poor performance. Paragon intends to hold the board accountable to the fullest extent of the law and plans to make a filing with the SEC to solicit votes for the election of director nominees at OPTT's 2023 annual meeting.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 2:07 pm