Streetbeat News

Equity Actions

ALIT

Alight has filed a prospectus related to the offer and sale of up to 240,392,110 shares of Class A common stock, from time to time, by selling holders.

Portfolio Pulse from Charles Gross

July 07, 2023 | 8:57 pm

ACHR

Adam Goldstein, CEO of Archer Aviation, has become the beneficial owner of about 50.1% of the total voting power of the outstanding capital stock as of July 6.

Portfolio Pulse from Charles Gross

July 07, 2023 | 8:53 pm

TIVC

Tivic Health Systems, Inc. (NASDAQ:TIVC), a health tech company, has announced its intention to offer and sell shares of its common stock in a public offering. The net proceeds from the offering will be used for working capital and general corporate purposes. The completion of the offering is subject to market and other conditions. Maxim Group LLC is acting as the sole placement agent for the offering.

Portfolio Pulse from Charles Gross

July 07, 2023 | 8:36 pm

CVS

A significant bullish stance has been taken on CVS Health (NYSE:CVS) by a large investor, as indicated by unusual options trading activity. The sentiment among these big-money traders is split 50% bullish and 50% bearish. The whales have been targeting a price range from $37.5 to $75.0 for CVS Health over the last 3 months. JP Morgan and Truist Securities have maintained their Overweight and Buy ratings on CVS Health, respectively, with price targets of $106 and $103.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 8:33 pm

BLNG

Belong Acquisition has announced that it will redeem public shares. The company's ticker symbol is BLNG.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 8:01 pm

GRRR

IMBI

LEVI

PWM

The Nasdaq Composite gained around 100 points on Friday, with Prestige Wealth Inc. shares spiking 200% following its IPO. Gorilla Technology Group Inc. shares also rose 143% after signing a $270 million contract with the Government of Egypt. However, iMedia Brands, Inc. shares dropped 16% after receiving a delisting notice from Nasdaq following its Chapter 11 filing, and Levi Strauss & Co. shares were down 7% after lowering its annual profit outlook.

Portfolio Pulse from Lisa Levin

July 07, 2023 | 6:30 pm

ABNB

Airbnb Inc.'s stock has increased by 11.36% over the past month and by 38.01% over the past year. The company's price-to-earnings (P/E) ratio is 42.72, higher than the aggregate P/E ratio of 30.8 of the Hotels, Restaurants & Leisure industry, indicating that the stock might be overvalued. However, a higher P/E could also suggest that investors expect the company to perform better in the future.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 6:01 pm

BX

Viral Patel, Blackstone Credit's global head of technology investing, sees private credit as an attractive option for tech firms amidst a sluggish IPO market. Patel disclosed Blackstone's focus on cash flow-based loans and the shift from ARR loans to EBITDA-based loans for companies reducing top-line growth. He also expressed a positive outlook on IPOs and a preference for cybersecurity and software companies catering to corporations' increasing data volume.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 4:44 pm

PLTR

Shares of Palantir Technologies Inc (NYSE:PLTR) are trading higher by 4.0% to $15.74 during Friday's session, rebounding from Thursday's weakness. The rise is attributed to better-than-expected U.S. jobs data and the likelihood of more rate hikes as stated by Dallas Fed president Logan. The company's shares have also surged by 145% on a year-to-date basis amid strength in AI-related stocks.

Portfolio Pulse from Henry Khederian

July 07, 2023 | 4:43 pm

NVDA

Tigress Financial Partners analyst Ivan Feinseth reiterated a Buy rating on Nvidia Corp (NASDAQ:NVDA) and raised the price target from $320 to $560. Nvidia is emerging as a core holding in the generative AI investment theme and is expected to benefit from the projected $1 trillion worth of global data infrastructure spending transitioning to accelerated computing. The company's Q1 results showed strong revenue growth, with the Data Center segment achieving record revenue of $4.28 billion, up 14% YoY. Nvidia's forecasted growth includes a 107.43% increase in net sales revenue to $53.68 billion and a 131.19% increase in economic operating cash flow to $33.15 billion over the next twelve months.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 4:42 pm