Streetbeat News

Equity Actions

EQT

Stephens analyst Mike Scialla has reiterated an Equal-Weight rating on EQT Corporation with a $36 price target. The analyst has lowered the 2Q CFPS estimate by 44% to $0.79, primarily due to lower projected unhedged realized natural gas and NGL prices. The 2Q23 EBITDA estimate has been updated to $359 million, 7% below Street consensus. No share repurchases are expected during the quarter due to forecasted outspending of $164 million. The Tug Hill acquisition is expected to close near mid-year 2023, pending final SEC approval.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 6:39 pm

A significant number of investors have taken a bearish stance on Boeing (NYSE:BA), with 68% of detected trades showing bearish expectations. The whales have been targeting a price range from $120.0 to $300.0 for Boeing over the last 3 months. The current price of BA is $217.71, with RSI indicators suggesting a neutral position. Morgan Stanley and RBC Capital have both downgraded their action to Equal-Weight and Sector Perform respectively, with a price target of $220.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:21 pm

BTCUSD

ETHUSD

XRPUSD

Gemini, a cryptocurrency exchange, is considering the listing of XRP for both spot and derivatives trading. This could potentially increase the liquidity and trading volume of XRP.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 5:59 pm

NSTG

Polar Capital Holdings Plc has increased its stake in Nanostring Technologies, Inc. to 8.1%, according to an amended Form 13G filed with the SEC.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 5:46 pm

LVS

A significant bearish stance has been taken on Las Vegas Sands (NYSE:LVS) by a large investor, as observed in the options history. The overall sentiment of these big-money traders is split between 35% bullish and 64% bearish. Whales have been targeting a price range from $35.0 to $65.0 for Las Vegas Sands over the last 3 months. The price of LVS is up 2.8% at $60.94. JP Morgan has maintained their Overweight rating on Las Vegas Sands, with a price target of $72.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 5:35 pm

CAT

EMB

FXE

GDX

MCD

NEM

PEXL

UUP

XLE

XOM

The U.S. dollar index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), has dropped below the key 100 mark due to softer-than-expected consumer and producer inflation. This has led to a decrease in bets of more than one rate hike by the Federal Reserve this year. The dollar's value has dropped 4% since the beginning of the year and 13% from its all-time high in September 2022. This could benefit U.S. exporters, multinational corporations, and emerging markets, but could also lead to inflationary pressures and decreased purchasing power. Five stocks and ETFs that could benefit from a weaker dollar include Procter & Gamble (PG), McDonald’s (MCD), Caterpillar (CAT), Exxon Mobil (XOM), Newmont Corporation (NEM), Pacer US Export Leaders ETF (PEXL), iShares J.P. Morgan USD Emerging Market Bond ETF (EMB), VanEck Gold Miners ETF (GDX), Energy Select Sector SPDR Fund (XLE), and Invesco CurrecyShares Euro Currency Trust (FXE).

Portfolio Pulse from Piero Cingari

July 13, 2023 | 5:28 pm

HCDI

Harbor Custom Development, Inc. (NASDAQ:HCDI) has announced Jeff Habersetzer as the company's Interim CEO and President. Habersetzer, who has been with the company since 2019, replaces Sterling Griffin who announced his retirement. The shareholders also re-elected five current directors and appointed D. David Chandler to the Board of Directors. The shareholders approved the ratification of the appointment of Rosenberg Rich Baker Berman, P.A. as the company's independent registered public accounting firm for 2023.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:21 pm

NVDA

NVIDIA Corporation's stock gapped up slightly to start Thursday's trading session, breaking up from a rising channel pattern on the daily chart. This move was a continuation after Nvidia rose over 4% Wednesday following reports indicating the company will make a long-term investment in the Arm IPO, set to take place in September. The stock negated a possible bearish double top pattern at the $439.90 mark and confirmed its uptrend remains intact.

Portfolio Pulse from Melanie Schaffer

July 13, 2023 | 5:06 pm

SONY

Neil Druckmann, director of The Last of Us, has assumed the role of president at Naughty Dog, a video game developer owned by Sony Group Corp.'s Sony Interactive Entertainment, following the retirement of co-president Evan Wells. Wells expressed confidence in Druckmann's ability to lead the studio. It is unclear if Druckmann will be the sole president or if Wells will be replaced.

Portfolio Pulse from Franca Quarneti

July 13, 2023 | 4:57 pm

SPY

VGK

Russian President Vladimir Putin has stated that the Black Sea grain deal will be extended once promises are made under the deal are fulfilled. The specifics of the promises or the impact on grain prices were not detailed.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 4:38 pm