Streetbeat News

Equity Actions

ARGX

A significant bullish stance has been taken on argenx (NASDAQ:ARGX) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 58% bullish and 41% bearish. The price of ARGX is up 2.58% at $548.77. Citigroup, Raymond James, and Morgan Stanley have maintained their positive ratings on argenx, while HC Wainwright & Co. and Evercore ISI Group have downgraded their actions.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 7:34 pm

AAPL

GOOGL

SPOT

In an interview with Benzinga, music producer David Daxsen discussed the impact of digital innovations on the music industry. He credited platforms like Apple's iTunes, Spotify, and YouTube for transforming the industry and enabling independent artists to thrive. The rise of home studios and global collaboration via the internet have also reshaped the industry. Daxsen also highlighted the new revenue generation avenues opened up by the digital revolution, including online collaborations and virtual connections with artists worldwide.

Portfolio Pulse from Franca Quarneti

July 21, 2023 | 7:14 pm

AAPL

AMZN

CMCSA

DIS

FOXA

PARA

WBD

Disney's ESPN is in early talks with the NFL and NBA for potential strategic partnerships as part of its shift towards a streaming model. The NFL is seeking an investment partner for its media assets, while the NBA is open to further discussions about their partnership. Disney and Warner Bros. Discovery hold exclusive rights to negotiate with the NBA until next year. The discussions also include the possibility of a subscription streaming service jointly owned by multiple leagues. However, this could lead to conflicts of interest for the leagues as owning a stake in ESPN might upset Disney’s competitors.

Portfolio Pulse from Piero Cingari

July 21, 2023 | 6:47 pm

UAL

Analysts from Raymond James, JP Morgan, and Morgan Stanley have raised their price targets for United Airlines Holdings Inc (NASDAQ:UAL), predicting the company will outperform its US peers in the medium term. The analysts increased their EPS growth forecasts for 2023, 2024, and 2025, citing substantial international revenue and unique cost tailwinds. However, these boosts are partially offset by steps taken to improve operational resiliency and changes in profit-sharing methodology.

Portfolio Pulse from Anusuya Lahiri

July 21, 2023 | 6:43 pm

CDNS

RMBS

Susquehanna analyst Mehdi Hosseini has reiterated a positive rating on Rambus, Inc. (NASDAQ:RMBS), raising the price target to $75 from $60. This follows Rambus' sale of their SerDes and Memory Interface PHY IP business to Cadence Design Systems, Inc. (NASDAQ:CDNS). The sale is viewed as positive for Rambus' operating margin due to the high operating expenses associated with the PHY business. The business represents less than 5% of Rambus' total revenue and is expected to be immaterial to revenue for CY23.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 6:38 pm

CTVA

Corteva, Inc. (NYSE:CTVA) has announced a 7% increase in its common stock dividend to $0.16 per share, payable on September 15, 2023. This is the company's third dividend increase since its 2019 spin-off, reflecting its focus on margin expansion, sustainable long-term growth, and returning capital to shareholders.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 6:22 pm

WMB

Williams Companies Inc. (NYSE:WMB) stock has seen a 10.72% increase over the past month and a 1.32% increase over the past year. The company's P/E ratio of 15.85 is higher than the aggregate P/E ratio of the Oil, Gas & Consumable Fuels industry (14.01), indicating that investors expect the company to perform better in the future. However, this could also suggest that the stock is overvalued.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 5:45 pm

DIS

ESPN, owned by Disney (80%) and Hearst (20%), is in early talks with the NBA and NFL about potential strategic partnerships, which could include the leagues taking an equity stake in the business. The move is part of ESPN's transition to a streaming model. However, the leagues taking a stake in ESPN could lead to conflicts of interest and irritate Disney’s competitors such as Comcast’s NBCUniversal, Fox, Amazon, Paramount Global, and Apple. Major League Baseball and the National Hockey League may also want to be involved in any deal.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 5:39 pm

AAPL

AMAT

AMD

DOCU

NVDA

ORCL

PLTR

SNOW

TSM

The article reports on the unusual options activity in the Information Technology sector. It mentions ten US-listed companies: NVDA, AAPL, AMD, PLTR, U, ORCL, AMAT, SNOW, TSM, and DOCU. The article provides details about the type of options (put or call), trade type, sentiment, expiration date, strike price, total trade price, open interest, and volume for each company.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 5:35 pm

JNJ

Johnson & Johnson (JNJ) has received positive feedback from analysts following a strong Q2 performance, particularly in its Medtech business. Credit Suisse analyst Trung Huynh has increased the price target for JNJ to $175 from $170, maintaining a Neutral rating. The company has also lifted its FY23 guidance due to strong Medtech sales growth. JNJ shareholders will soon have the opportunity to exchange their shares for Kenvue shares. Despite ongoing talc litigation, analysts remain optimistic about JNJ's future.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 5:32 pm