Streetbeat News

Equity Actions

SQ

A significant number of bearish trades have been observed in Block (NYSE:SQ) options, with 77% of investors taking a bearish stance. The targeted price range for Block over the last 3 months has been $32.5 to $140.0. The current price of SQ is $78.77, down 0.33%. Analysts from Truist Securities and Keybanc have maintained their Buy and Overweight ratings on Block respectively.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 5:16 pm

ODD

Oddity Tech's shares have started trading at $49.10, significantly higher than their initial public offering (IPO) price of $35 per share.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 5:16 pm

ODD

Oddity Tech, a newly listed company, has indicated an initial public offering (IPO) price of $49.25 per share on 1 million shares, significantly higher than the IPO price of $35 per share.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 5:13 pm

ODD

Oddity Tech, a newly listed company, has indicated an initial public offering (IPO) price of $49.45 per share on 962K shares, significantly higher than the IPO price of $35 per share.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 4:49 pm

PCH

RBC Capital Markets analyst Paul C. Quinn has downgraded PotlatchDeltic Corp (NASDAQ:PCH) to 'Sector Perform' from 'Outperform' with a price target of $55. This comes after PCH's share price rose by 23%, outperforming its timber REIT peers. The analyst sees limited upside from here but expects share repurchase activity to increase due to rising lumber prices. The 2023 adjusted EBITDA estimate was raised by 5.6% to $236.8 million, but the 2024 forecast was lowered by 6.8% to $320.1 million.

Portfolio Pulse from Lekha Gupta

July 19, 2023 | 4:46 pm

MCD

Strive Asset Management, co-founded by Vivek Ramaswamy, has purchased just under $2 million worth of McDonald's shares and is expressing concerns over the company's diversity policies. This stake is a small fraction of McDonald's nearly $215 billion market capitalization.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 4:36 pm

ODD

Oddity Tech, a newly listed company, has indicated an initial public offering (IPO) price of $48.67 per share on 549K shares, significantly higher than the IPO price of $35 per share.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 4:30 pm

AMZN

META

NVDA

QCOM

Nvidia Corp is in talks to take an equity stake in Lambda Labs, a startup that competes with Amazon Web Services and other cloud providers in renting servers with Nvidia chips. The deal could total $300 million in new capital and might value Lambda Labs at over $1 billion. BofA Global Research analyst Vivek Arya reiterated his Buy rating for Nvidia stock and raised his price target to $550 from $500. Qualcomm Inc tapped Meta Platforms Inc to optimize the execution of Meta's Llama 2 large language models on devices, which have primarily run on Nvidia graphics processors.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 4:23 pm

HROW

NVS

Harrow Health Inc (HROW) has agreed to acquire the U.S. and Canadian commercial rights for Vevye, a drug for dry eye disease, from Novaliq GmbH. The company has also agreed to acquire certain U.S. and Canadian commercial rights for several branded products from Santen Pharmaceutical Co Ltd. In December last year, Harrow acquired exclusive U.S. commercial rights to five FDA-approved ophthalmic products from Novartis AG (NVS). Harrow raised $60 million via equity and expects Q2 2023 revenues in excess of $31.0 million. HROW shares are up 22.90%.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 4:16 pm

AMRN

Amarin Corporation announced a restructuring plan to reduce operating costs by $40 million annually, focusing on maintaining Vascepa as a cost-effective option, redesigning its commercial infrastructure in Europe, and exploring additional partnerships. The company also reported preliminary Q2 earnings with product revenue of $65 million, below the consensus of $80.36 million. Amarin appointed Patrick Holt as President and CFO. The company's shares are down 21.7% in premarket trading.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 3:39 pm