Streetbeat News

Stock Prices

GOOGL

A significant bearish stance on Alphabet (NASDAQ:GOOGL) has been observed through unusual options activity. The sentiment among big-money traders is split between 47% bullish and 52% bearish. Whales have been targeting a price range from $45.0 to $180.0 for Alphabet over the last 3 months. The price of GOOGL is down -1.11% at $130.9. Analysts from Evercore ISI Group, Rosenblatt, Wells Fargo, RBC Capital, and Wedbush have maintained their ratings on Alphabet, with price targets ranging from $121 to $163.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:31 pm

SPKX

SPY

UVXY

The SPDR S&P 500 (NYSE:SPY) experienced a drop due to selling pressure after Nvidia Corporation's Q2 earnings beat. Traders are anticipating a hawkish tone from Federal Reserve chair Jerome Powell at the Jackson Hole Symposium, which may indicate continued interest rate hikes. The SPY is trading in a possible bear flag pattern, suggesting increased market volatility. Traders can trade this volatility with options such as the ConvexityShares Daily 1x SPIKES Futures ETF (NYSE:SPKX) and ProShares Ultra VIX Short Term Futures ETF (NYSE:UVXY).

Portfolio Pulse from Melanie Schaffer

August 24, 2023 | 4:28 pm

NRXP

Jonathan C Javitt, a director at NRX Pharmaceuticals, has purchased 100,000 shares of the company's stock at a price of $0.33 per share, according to a Form 4 filing with the SEC.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 4:27 pm

NVDA

NVIDIA Corporation's (NASDAQ:NVDA) strong Q2 financial results and surging stock price have significantly increased the wealth of co-founder and CEO Jensen Huang. Huang, who owns around 3.5% of the company, saw his wealth increase by $4.2 billion, reaching a total of $46 billion. NVIDIA shares have risen over 230% year-to-date in 2023, making it the best-performing stock in the S&P 500 Index for the year.

Portfolio Pulse from Chris Katje

August 24, 2023 | 4:24 pm

SPY

Philadelphia Federal Reserve Bank President Patrick Harker stated that the Fed has probably done enough in terms of rate hikes. He noted strong GDP growth, declining inflation, and low unemployment, but also mentioned a tightening of credit standards and a slight increase in credit card delinquencies. Harker is not overly concerned about the 10-year yield and sees a softening of demand trends, particularly from low-income consumers. He expects a broader slowdown in the economy and believes it's okay if unemployment rises to around 4% or slightly higher.

Portfolio Pulse from Adam Eckert

August 24, 2023 | 4:16 pm

ATVI

A significant bullish stance has been taken on Activision Blizzard (NASDAQ:ATVI) by a large investor, as indicated by unusual options trading activity. The sentiment among these big-money traders is 76% bullish and 23% bearish. The whales have been targeting a price range from $80.0 to $92.5 for Activision Blizzard over the last 3 months. The current price of ATVI is $91.77, with the stock considered neutral between overbought and oversold.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:16 pm

NVDA

Jim Lebenthal announced on CNBC that he has purchased shares of Nvidia (NVDA).

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 4:10 pm

LTH

Life Time Group Holdings Inc (NYSE:LTH) has had its issuer credit rating upgraded to B2 from B3 by Moody's Investor Service, citing improving performance, membership, revenue and EBITDA trends, and steps taken to improve its balance sheet and reduce leverage. The company also closed a sale-leaseback transaction for approximately $45 million in gross proceeds. However, LTH shares are trading lower by 1.72% at $16.59.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 4:10 pm

FITB

Raymond James analyst David J. Long initiated coverage on Fifth Third Bancorp (NASDAQ:FITB) with a Market Perform rating. Long believes FITB is well positioned for long-term loan growth, boosted by its investment in Southeastern U.S. However, he sees near-term loan and deposit growth headwinds due to uncertain economic outlook and higher interest rates. He expects rising deposit costs and the mix shift to higher-cost deposits to result in NIM contraction in H2 2023 and 2024. FITB's shares are trading higher by 0.92% at $25.67.

Portfolio Pulse from Lekha Gupta

August 24, 2023 | 4:05 pm

BLZE

GES

OIG

SCTL

TDCX

WOOF

US stocks turned lower with the Dow Jones falling more than 200 points and NASDAQ falling 1.35%. Initial jobless claims fell by 10,000 to 230,000. TDCX Inc., Guess?, Inc., and Backblaze, Inc. saw their shares rise following positive Q2 earnings and raised revenue outlooks. Orbital Infrastructure Group, Inc., Societal CDMO, Inc., and Petco Health and Wellness Company, Inc. saw their shares drop due to bankruptcy filings, public offering pricing, and Q2 results respectively.

Portfolio Pulse from Lisa Levin

August 24, 2023 | 4:03 pm