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Equity Actions

EVLO

Evelo Biosciences has announced a $25.5 million private placement, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 6:11 pm

BKNG

A significant bearish stance has been taken on Booking Holdings (NASDAQ:BKNG) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 39% bullish and 60% bearish. The whales have been targeting a price range from $2000.0 to $3000.0 for Booking Holdings over the last 3 months. The price of BKNG is up 2.45% at $2701.41. Wedbush and JMP Securities have downgraded their actions on BKNG with price targets of $3060 and $3000 respectively.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 6:05 pm

OXY

A significant amount of unusual options activity has been observed for Occidental Petroleum (NYSE:OXY), with a roughly equal split between bullish and bearish expectations. The trades include 4 puts totaling $204,060 and 10 calls totaling $1,258,755. Whales have been targeting a price range from $42.0 to $62.5 for Occidental Petroleum over the last 3 months. Piper Sandler maintains a Neutral rating on the company with a price target of $62, while Stephens & Co. has downgraded its action to Overweight with a price target of $72.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 6:05 pm

FXI

SPY

U.S. Treasury Secretary Janet Yellen has expressed a mutual desire between the U.S. and China to stabilize their relationship, emphasizing the need for candor and respect. This could potentially impact the market sentiment towards U.S. and China-related ETFs.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 6:03 pm

INTU

A significant bullish stance has been taken on Intuit (NASDAQ:INTU) by a large investor, as indicated by a large position in the company's options. The sentiment among these big-money traders is split between 68% bullish and 31% bearish. The whales have been targeting a price range from $380.0 to $560.0 for Intuit over the last 3 months. Currently, the price of INTU is up 3.69% at $464.72. Mizuho has downgraded its action to Buy with a price target of $550.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 5:33 pm

AAN

FMC

JUPW

MOB

NBTX

TIVC

US stocks traded mostly higher with the Dow up 0.42% and the S&P 500 up 0.05%, while the NASDAQ fell 0.14%. Wholesale inventories in the US remained unchanged in May. Mobilicom Limited (NASDAQ:MOB) shares rose 81% after receiving a commercial scale purchase order from Teledyne-FLIR for drone production. Jupiter Wellness, Inc. (NASDAQ:JUPW) shares rose 38% after executing an Asset Purchase Agreement with GBB Drink Lab. Nanobiotix S.A. (NASDAQ:NBTX) shares rose 41% after entering into a license agreement with Janssen Pharmaceutical. Tivic Health Systems, Inc. (NASDAQ:TIVC) shares dropped 40% after pricing public offering of shares. The Aaron's Company, Inc. (NYSE:AAN) shares fell 12% after a downgrade from Loop Capital. FMC Corporation (NYSE:FMC) shares fell 10% after cutting its Q2 and 2023 guidance.

Portfolio Pulse from Lisa Levin

July 10, 2023 | 4:58 pm

META

TSLA

WEN

Tesla CEO Elon Musk and Meta Platform Inc’s founder Mark Zuckerberg have added a new dimension to their long-standing rivalry with a series of controversial exchanges on social media. The feud, which has been ongoing for over six years, has escalated with Musk's recent comments and Zuckerberg's responses. The public clashes could have implications for their businesses and reputations.

Portfolio Pulse from AJ Fabino

July 10, 2023 | 4:44 pm

LLY

Unusual options activity has been observed for Eli Lilly (NYSE:LLY), with a bearish stance taken by a large investor. The sentiment among these big-money traders is split between 13% bullish and 86% bearish. The whales have been targeting a price range from $340.0 to $660.0 for Eli Lilly over the last 3 months. Cantor Fitzgerald has downgraded its action to Overweight with a price target of $485 and maintained their Overweight rating with a price target of $550. Truist Securities downgraded its action to Buy with a price target of $430.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 4:33 pm

PWM

Prestige Wealth, Inc. (NASDAQ:PWM) shares experienced volatility on Monday, with the stock being halted multiple times in early trading. The stock bounced around on heavy volume and was halted on a circuit breaker to the upside after falling more than 25% in early trading. Prestige Wealth recently launched its IPO of 1,000,000 ordinary shares at a price of $5.00 per share. The company plans to use the proceeds from the IPO for brand promotion, product and service expansion, client relationship management, hiring, and general working capital.

Portfolio Pulse from Erica Kollmann

July 10, 2023 | 4:31 pm

EVLO

Evelo Biosciences, Inc. (NASDAQ:EVLO) has entered into a securities purchase agreement to sell 11.03 million shares at $2.31 each in a private placement. The total proceeds of $25.5 million will be used to fund the Phase 2a trial of EDP2939, a product candidate for moderate psoriasis, pay down $5 million in debt, and for general corporate purposes. The private placement is expected to close on or about July 11, 2023.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 3:47 pm