Streetbeat News

Equity Actions

XXII

22nd Century Group, Inc. (XXII) announced a $3 million registered direct offering priced above the market, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 2:54 pm

BABA

A significant bearish stance has been taken on Alibaba Group Holding (NYSE:BABA) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 46% bullish and 53% bearish. Whales have been targeting a price range from $70.0 to $160.0 for Alibaba over the last 3 months. The price of BABA is currently down -1.52% at $83.02. Bernstein downgraded its action to Market Perform with a price target of $98, Loop Capital maintained their Buy rating with a price target of $135, and Benchmark downgraded its action to Buy with a price target of $180.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 2:47 pm

UBER

A significant bearish stance has been taken on Uber Technologies (NYSE:UBER) as indicated by unusual options activity. The sentiment among big-money traders is split between 39% bullish and 60% bearish. Whales have been targeting a price range from $30.0 to $60.0 for Uber over the last 3 months. The price of UBER is currently down -2.19% at $42.7. Several financial institutions have maintained their positive ratings on Uber, with price targets ranging from $50 to $65.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 2:47 pm

AAPL

BLK

IEF

The article discusses the widening disconnect between rising yields and AI-driven stocks, particularly the 'magnificent seven' (Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, Tesla). The iShares 7-10 Year Treasury Bond ETF (IEF) has fallen due to rising yields. ADP data indicates a strong jobs picture. The article also mentions that BlackRock is pushing for approval of a Bitcoin ETF. The article suggests that the current disconnect between rising interest rates and the 'magnificent seven' is not sustainable.

Portfolio Pulse from The Arora Report

July 06, 2023 | 2:46 pm

IGC

IGC Pharma, Inc. has secured a $3 million investment from four funds managed by Bradbury Asset Management. The investment will be made through a private placement of ten million unregistered common shares at $0.30 each. The funds will be used to advance the company's Phase-2 clinical trial of IGC-AD1, a drug candidate for agitation in dementia caused by Alzheimer's disease.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 2:27 pm

FAST

Fastenal Inc.'s (NASDAQ:FAST) stock price is currently at $57.36, after a 1.53% drop. However, over the past month, the stock has risen by 5.32%, and in the past year, by 13.29%. The company's P/E ratio is 30.03, higher than the aggregate P/E ratio of 17.96 of the Trading Companies & Distributors industry, indicating that the stock may be overvalued.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 2:22 pm

VBIV

VBI Vaccines has announced an $18 million public offering and a $3 million concurrent registered direct offering. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 2:19 pm

WAVE

Eco Wave Power Global AB (NASDAQ:WAVE) has announced its intention to set up a share repurchase program to repurchase American Depositary Shares corresponding to up to 10 percent of the total number of shares in the Company. The program was approved by Eco Wave Power's shareholders at the 2023 Annual General Meeting. The repurchase is conditional on necessary permits being obtained from the Swedish Financial Supervisory Authority.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 2:18 pm

CRBU

PFE

Caribou Biosciences, Inc. (NASDAQ:CRBU) shares surged after the company announced a $25 million equity investment from Pfizer (NYSE:PFE). Pfizer purchased 4,690,431 of Caribou common shares at $5.33 per share. The proceeds will be used to advance CB-011, an immune cloaked allogeneic CAR-T cell therapy currently in a Phase 1 clinical trial.

Portfolio Pulse from Erica Kollmann

July 06, 2023 | 2:12 pm

MA

A significant bullish stance on Mastercard (NYSE:MA) has been observed, with unusual options activity indicating that big-money traders are targeting a price range from $320.0 to $400.0 for Mastercard over the next three months. The sentiment among these traders is split between 68% bullish and 31% bearish. Baird and Susquehanna have downgraded their actions on Mastercard to Outperform and Positive respectively, with price targets of $435 and $433.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 2:03 pm