Streetbeat News

Equity Actions

META

TWTR

Twitter, led by Elon Musk, is threatening legal action against Meta Platforms Inc. (NASDAQ:META) over its newly launched app, Threads. Twitter accuses Meta of poaching former employees and misappropriating trade secrets to create the app, which closely resembles Twitter. Threads has seen a rapid uptake, with over 30 million signups in less than 24 hours, suggesting a possible exodus of Twitter users. The rivalry between Twitter and Threads underscores the personal animosity between Musk and Meta CEO Mark Zuckerberg.

Portfolio Pulse from AJ Fabino

July 06, 2023 | 7:27 pm

NBIX

VYGR

BMO Capital Markets has upgraded Neurocrine Biosciences Inc (NBIX) from Underperform to Market Perform, with a price target of $96, up from $91. The upgrade follows a survey of psychiatrists treating tardive dyskinesia, which increased BMO's confidence in the durability of Neurocrine's drug, Ingrezza. BMO also noted that Neurocrine's pipeline lacks strength and depth. Neurocrine and Voyager Therapeutics Inc (VYGR) formed a collaboration earlier this year to advance gene therapies for neurological diseases.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 7:12 pm

DUK

Duke Energy Corp (DUK) has sold its commercial distributed generation business to an affiliate of ArcLight Capital Partners LLC for an enterprise value of $364 million. This completes the monetization of the company’s Commercial Renewables (CR) business. BMO Capital analyst James Thalacker reiterated an Outperform rating on DUK shares and lowered the price target from $102 to $101. The sale is in line with the Street's expectations and allows investors to focus on the company’s efforts in securing regulatory clarity in its two primary North Carolina rate cases this year.

Portfolio Pulse from Shivani Kumaresan

July 06, 2023 | 6:59 pm

NIO

TSLA

NIO Inc. (NYSE:NIO) shares are trading lower due to overall weakness in Chinese stocks on U.S. rate hike concerns. Tesla (NASDAQ:TSLA) and sixteen Chinese automotive companies have agreed to prevent a price war. The agreement was overshadowed by the overall market downturn due to increased likelihood of the Federal Reserve raising interest rates further during the remainder of this year.

Portfolio Pulse from Ryan Gustafson

July 06, 2023 | 6:31 pm

ASLN

CRBU

GENI

MULN

VBIV

XXII

U.S. stocks traded lower with the Nasdaq Composite dropping over 100 points. Caribou Biosciences, Mullen Automotive, and Genius Sports saw their shares rise after various positive announcements, while 22nd Century Group, VBI Vaccines, and ASLAN Pharmaceuticals saw their shares drop due to negative news. The ISM services PMI rose to 53.9 in June, from 50.3 in May.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 6:30 pm

NFLX

A significant bearish stance has been taken on Netflix (NASDAQ:NFLX) by a large investor or institution, as indicated by unusual options trading activity. The sentiment among these big-money traders is split, with 45% bullish and 54% bearish. The targeted price range for Netflix over the last 3 months has been between $170.0 to $700.0. Analysts' ratings vary, with Goldman Sachs upgrading to Neutral with a $400 price target, while JP Morgan, Wells Fargo, and Guggenheim maintain Overweight or Buy ratings with price targets of $470 and $500.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 6:16 pm

CCL

Carnival Corporation (NYSE:CCL) has seen unusual options activity, with a large bearish position being taken. The overall sentiment of these big-money traders is split between 36% bullish and 63% bearish. The price of CCL is down -2.57% at $18.72. Truist Securities downgraded its action to Sell with a price target of $11, while Citigroup and B of A Securities maintain their Buy rating with a price target of $18 and $20 respectively. Deutsche Bank maintains their Hold rating with a price target of $15.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 6:02 pm

AAPL

ASAN

AVGO

DOCN

EBIX

ENPH

INTC

MSFT

MSTR

PATH

The article reports on significant options activity in the Information Technology sector. Notable trades include neutral call options for AAPL and ASAN, bearish call options for MSFT and ENPH, bearish put options for INTC and EBIX, and bullish call options for DOCN, MSTR, and AVGO. The article suggests that these trades could indicate future trading opportunities.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:39 pm

DASH

A significant bearish stance has been taken on DoorDash (NYSE:DASH) as indicated by unusual options activity. The sentiment among big-money traders is split between 38% bullish and 61% bearish. Whales have been targeting a price range from $73.0 to $95.0 for DoorDash over the last 3 months. The price of DASH is currently down -3.54% at $76.27. Gordon Haskett and Wells Fargo have downgraded their actions on DoorDash with price targets of $72 and $70 respectively.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:17 pm

TXN

A significant bearish stance has been taken on Texas Instruments (NASDAQ:TXN) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 30% bullish and 69% bearish. The whales have been targeting a price range from $100.0 to $260.0 for Texas Instruments over the last 3 months. Susquehanna has downgraded its action to Positive with a price target of $205.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:16 pm