Streetbeat News

Equity Actions

BAC

A significant bullish stance has been taken on Bank of America (NYSE:BAC) as evidenced by unusual options activity. The sentiment among these big-money traders is 78% bullish and 21% bearish. The whales have been targeting a price range from $20.0 to $50.0 for Bank of America over the last 3 months. Citigroup has maintained their Neutral rating on Bank of America with a price target of $31, while RBC Capital has downgraded its action to Outperform with a price target of $35.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 3:21 pm

RIG

Transocean Ltd. (RIG) shares continue to rise, marking an upward trend over the last five trading sessions. The stock has seen a volatile June, with a 14% increase over the last 30 days. The company recently announced a $184 million award for the Transocean Equinox in Australia, which could extend its operations there until 2028. RIG is popular among retail investors and is a top trending ticker on StockTwits. Over 19.9% of available shares are being sold short.

Portfolio Pulse from Erica Kollmann

July 03, 2023 | 2:41 pm

CGC

Canopy Growth has completed all conversions pursuant to the $100 million convertible debentures and provided an update to its balance sheet actions taken to date. This has led to a rise in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 2:33 pm

BA

A significant bearish stance on Boeing (NYSE:BA) has been noticed, with a large position appearing in publicly available options history. The sentiment among these big-money traders is split, with 41% bullish and 58% bearish. Whales have been targeting a price range from $155.0 to $250.0 for Boeing over the last 3 months. Bernstein and RBC Capital have downgraded their actions on Boeing, with price targets of $252 and $220 respectively.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 2:18 pm

ADBE

A significant bearish stance has been taken on Adobe (NASDAQ:ADBE) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 41% bullish and 58% bearish. The whales have been targeting a price range from $200.0 to $550.0 for Adobe over the last 3 months. Adobe's stock price is currently down by 1.34% at $482.46. Several financial institutions have maintained their ratings on Adobe, with price targets ranging from $470 to $550.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 2:18 pm

MEOA

Minority Equality Opportunities Acquisition Inc. (MEOA) announced it will dissolve and liquidate, as it did not complete an initial business combination by June 30, 2023. The company will redeem all outstanding shares of Class A common stock at an estimated per-share redemption price of approximately $10.91. The redemption is expected to be completed on July 17, 2023. The company's securities will be delisted from Nasdaq and the registration of its securities will be terminated.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 2:02 pm

FLR

HII

HON

Honeywell International Inc has sold its stake in the Savannah River Nuclear Solutions joint venture to partners Fluor Corporation and Huntington Ingalls Industries, Inc. The financial terms were not disclosed. Last month, Honeywell agreed to buy Saab AB heads-up-display (HUD) assets for use in several avionics offerings for undisclosed terms.

Portfolio Pulse from Lekha Gupta

July 03, 2023 | 1:58 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

TSLA

Goldman Sachs has identified 20 stocks from the S&P 500 Index that have shown remarkable revenue growth, with sales increasing at least 10% per year since 2021. This trend is expected to continue through 2025. The seven largest publicly traded technology companies, including Apple, Microsoft, Alphabet, Amazon, Meta Platforms, NVIDIA, and Tesla, have seen their sales increase by 15% CAGR from 2013 to 2019. These companies have outperformed the S&P 500 with a return of 58% in 2023.

Portfolio Pulse from Piero Cingari

July 03, 2023 | 1:24 pm

BFRI

Biofrontera has announced a 1-for-20 reverse stock split. This action is typically taken by companies to increase the market price of their shares.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 1:24 pm

CLSK

CleanSpark, Inc. (NASDAQ:CLSK) released its unaudited bitcoin mining and operations update for the quarter ending June 30, 2023. The company mined 1,624 bitcoins during the quarter, and its bitcoin holdings grew 170% quarter over quarter. CleanSpark funded growth and operations through the sale of 413 bitcoins in June 2023 at an average of approximately $27,200 per BTC. The company also announced progress in its expansion plans in Washington and Dalton, Georgia.

Portfolio Pulse from Happy Mohamed

July 03, 2023 | 1:00 pm