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FORG

PING

SAIL

ForgeRock Inc's stock (NYSE:FORG) gained after a report indicated that Thoma Bravo LLC is set to finalize its acquisition of ForgeRock valued at $2.3 billion. The U.S. Justice Department decided not to contest the merger despite concerns about stifling competition within customer-facing identity management software. Thoma Bravo already owns ForgeRock's direct rival, Ping Identity Holding Corp (NYSE:PING), and last year acquired SailPoint Technologies Holdings Inc (NYSE:SAIL), another significant player in the industry.

Portfolio Pulse from Anusuya Lahiri

August 22, 2023 | 7:00 pm

AMZN

LRLCY

ULTA

Oppenheimer analyst Rupesh Parikh reiterated an Outperform rating on Ulta Beauty Inc (ULTA) with a price target of $540. The company is expected to report its Q2 FY23 earnings on August 24. Despite challenges in the hair category, the analyst sees a healthy beauty backdrop with continued strength in the mass category. The analyst will continue to monitor student loan impacts on the beauty category, increased promotional intensity, and prestige brand additions on Amazon.com Inc (AMZN), with L'Oreal Co (LRLCY) moving more aggressively on the platform.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 6:49 pm

BBY

DKS

M

Best Buy Co., Inc. (NYSE:BBY) shares are trading lower amid weakness in the retail sector, in sympathy with Macy's (NYSE:M) and Dick's (NYSE:DKS), which dropped following their quarterly earning reports. Macy's reported better than expected earnings and sales, but sales fell 8.39% from the same period last year. Dick's missed earnings and sales estimates and lowered its full-year 2023 earnings per share guidance. Best Buy is set to report second-quarter earnings on Aug. 29.

Portfolio Pulse from Ryan Gustafson

August 22, 2023 | 6:47 pm

COF

A significant investor has taken a bearish stance on Capital One Financial (NYSE:COF), with 64% of recent trades being bearish and 35% bullish. The total amount for puts was $1,983,717 and for calls was $667,800. The targeted price range for the last 3 months was $100.0 to $130.0. The current price of COF is down -2.65% at $101.62, and RSI indicators suggest the stock may be oversold.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 6:46 pm

MA

A significant number of investors have taken a bullish stance on Mastercard (NYSE:MA), with 56% of investors opening trades with bullish expectations. The price target for Mastercard over the last 3 months has been between $370.0 to $490.0. Several financial institutions including BMO Capital, JP Morgan, Credit Suisse, Barclays, and Susquehanna have maintained positive ratings on Mastercard with price targets ranging from $430 to $510.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 6:45 pm

LHX

L3Harris Technologies (NYSE:LHX) has outperformed the market over the past 20 years, producing an average annual return of 12.66%. If an investor had bought $100 of LHX stock 20 years ago, it would be worth $1,092.20 today.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 6:30 pm

PTON

Peloton Interactive (NASDAQ:PTON) is set to report its Q4 financial results. Analysts expect the company to report a revenue of $639.9 million and a loss of 38 cents per share. The company has missed revenue estimates in five of the last seven quarters and earnings per share estimates in the last eight quarters. Several analysts have lowered price targets for the stock after Q3 results. The company's new initiative, Peloton for Business, is expected to be a focal point in the upcoming earnings.

Portfolio Pulse from Chris Katje

August 22, 2023 | 6:30 pm

UPS

A significant bearish stance has been taken on United Parcel Service (NYSE:UPS) by a large investor, as indicated by a large position in options. The sentiment among these big-money traders is split, with 41% bullish and 58% bearish. The price target for UPS over the last three months has been between $110.0 and $210.0. The current price of UPS is down -0.91% at $166.96. Several financial institutions have maintained or downgraded their ratings on UPS, with price targets ranging from $185 to $195.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 6:16 pm

AMAT

Unusual options activity has been observed for Applied Mat (NASDAQ:AMAT), with a bearish stance taken by a large investor. The options scanner at Benzinga spotted 15 uncommon trades, with 33% bullish and 66% bearish sentiment. The whales have been targeting a price range from $75.0 to $165.0 for Applied Mat over the last 3 months. The price of AMAT is currently down -1.01% at $147.26. Several financial institutions including Goldman Sachs, Bernstein, TD Cowen, Mizuho, and Berenberg have maintained their positive ratings on Applied Mat.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 6:16 pm

VALE

Shares of Vale are trading higher due to an increase in iron ore prices.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 6:11 pm