Streetbeat News

Stock Prices

LIPO

Shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) are surging on heavy trading volume, with over 28.6 million shares traded in the session, significantly higher than its 100-day average of less than 7 thousand shares. This comes after the company published positive results from a Phase 2a clinical study of its lead product candidate, LP-10, a potential treatment for hemorrhagic cystitis. The stock is up 54% at $2.48.

Portfolio Pulse from Erica Kollmann

October 20, 2023 | 2:51 pm

RIVN

Rivian Automotive Inc's shares have dropped by 11.2% over the past five sessions, amid a broader decline in the EV industry. The stock has also fallen roughly 24% in October after the company priced its $1.5 billion green convertible senior notes offerings. The issuance of these notes has increased Rivian's debt burden, raising concerns among investors about the company's ability to meet its financial obligations and potentially leading to higher interest expenses and reduced profitability.

Portfolio Pulse from Henry Khederian

October 20, 2023 | 2:50 pm

AAPL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo discusses trade strategies for SPY, QQQ, AAPL, MSFT, TSLA, NVDA, and META. The memo provides price levels for these stocks based on a proprietary formula that takes into account price, volume, and options flow. The memo recommends monitoring these stocks for potential breakouts or reversals.

Portfolio Pulse from RIPS

October 20, 2023 | 2:48 pm

ON

A significant bullish stance has been taken on ON Semiconductor (NASDAQ:ON) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 54% bullish and 45% bearish. Whales have been targeting a price range from $70.0 to $92.0 for ON Semiconductor over the last 3 months. Exane BNP Paribas downgraded its action to Neutral with a price target of $95 while Morgan Stanley maintained their Equal-Weight rating with a price target of $110.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 2:46 pm

MU

A significant investor has taken a bearish stance on Micron Technology (NASDAQ:MU), with 60% of recent trades being bearish and 40% bullish. The trades have targeted a price range of $35.0 to $70.0 for Micron Technology over the last 3 months. The current price of MU is $67.62, up 0.13%. Analysts have mixed opinions, with Rosenblatt and Citigroup rating it as 'Buy' with price targets of $100 and $85 respectively, while Morgan Stanley maintains an 'Underweight' rating with a price target of $58.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 2:46 pm

JD

A significant amount of unusual options activity has been observed for JD.com (NASDAQ:JD), with a majority of investors taking a bullish stance. The targeted price range for JD.com over the last 3 months has been $22.5 to $40.0. The current price of JD.com is down by 2.23% at $24.51. Analysts from Citigroup and Benchmark maintain a 'Buy' rating on JD.com, while Macquarie, Morgan Stanley, and Bernstein have downgraded their ratings to 'Neutral', 'Equal-Weight', and 'Market Perform' respectively.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 2:46 pm

BTCUSD

COIN

Coinbase's Chief Legal Officer, Paul Grewal, expressed optimism about the SEC approving a U.S. Bitcoin ETF, stating that the financial watchdog will fulfill its responsibilities. This comes after a court decision found no grounds for the SEC's refusal of Grayscale's proposal to transform its GBTC Bitcoin fund into an ETF. The acceptance of a Bitcoin ETF could provide investors an alternative to direct Bitcoin purchases on exchanges, potentially benefiting Coinbase.

Portfolio Pulse from Murtuza Merchant

October 20, 2023 | 2:46 pm

SFTBY

SYM

WMT

Symbotic Inc. (NASDAQ:SYM), a robotics warehouse automation company, has partnered with SoftBank and Walmart to create GreenBox Systems, an AI-powered logistics and warehouse joint venture. SoftBank holds an 8% stake in Symbotic and a 65% stake in GreenBox, while Walmart holds an 11% stake in Symbotic. Revenue from Walmart accounts for 90% of Symbotic's total revenue. Symbotic's sales grew by 77% in the most recent quarter, and orders for its existing warehouse-management systems have surged to $12 billion.

Portfolio Pulse from Aditi Ganguly

October 20, 2023 | 2:46 pm

DX

Dynex Cap (NYSE:DX) has announced a monthly dividend of 13 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 13 cents lower to reflect the payout. Shareholders who own DX as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on November 01, 2023.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 2:45 pm

NIO

Anhui Jianghuai Automobile Group Corp., a key producer of electric vehicles for NIO Inc., plans to sell certain assets, including a car factory, worth around $615 million. The assets are from two manufacturing facilities that produce NIO EVs. NIO stated that this won't affect its production. NIO's vehicle deliveries for Q3 totaled 55,432, up 75.4% YoY. NIO shares are trading higher by 0.65% at $7.74.

Portfolio Pulse from Shivani Kumaresan

October 20, 2023 | 2:42 pm