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MELI

A significant bearish stance has been taken on MercadoLibre (NASDAQ:MELI) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 33% bullish and 66% bearish. The whales have been targeting a price range from $580.0 to $1660.0 for MercadoLibre over the last 3 months. The current price of MELI is down -2.6% at $1215.06. Major financial institutions like Goldman Sachs, Jefferies, Credit Suisse, Barclays, and JP Morgan have maintained their ratings on MercadoLibre.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 6:46 pm

BMY

A significant investor has taken a bullish stance on Bristol-Myers Squibb (NYSE:BMY), with 70% of recent trades being bullish and 30% bearish. The total amount for put options is $109,642 and for call options is $396,733. Whales have been targeting a price range from $40.0 to $62.0 for Bristol-Myers Squibb over the last 3 months. The current price of BMY is up 1.94% at $62.12. Analysts have mixed ratings on the stock, with price targets ranging from $59 to $85.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 6:46 pm

MRVL

A significant bearish stance has been taken on Marvell Tech (NASDAQ:MRVL) by a large investor or institution, 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 $50.0 to $95.0 for Marvell Tech over the last 3 months. The price of MRVL is currently up 0.87% at $57.87. Stifel and Barclays maintain a Buy and Overweight rating on Marvell Tech respectively, both with a price target of $75. Wolfe Research downgraded its action to Outperform with a price target of $80.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 6:46 pm

HE

Hawaiian Electric (HE) shares are trading lower following reports that the company is facing multiple lawsuits and is in talks with restructuring firms.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 6:45 pm

DBCCF

TSXV:DB

Decibel Cannabis Company Inc. (TSXV:DB) (OTCQB:DBCCF) reported a YoY increase in net revenue to CA$58 million ($42.9 million) in Q2 2023, up from CA$18.5 million in the same quarter of last year. The company also reported a gross profit before fair value adjustments of CA$26.4 million, a gross margin of 46%, and a positive adjusted EBITDA of roughly CA$14 million. The net loss was CA$992,000, down from CA$2.1 million in Q2 2022.

Portfolio Pulse from Jelena Martinovic

August 17, 2023 | 6:44 pm

NOVA

KeyBanc Capital Markets analyst Sophie Karp has reiterated the Overweight rating on Sunnova Energy International Inc. (NOVA), but lowered the price target from $39 to $31 due to a decrease in 2023-2025 estimates. The reduction is based on 2Q results and market conditions. Karp highlights labor and operational risks within the dealer business model and policy uncertainty at federal and local levels. Despite these risks, Karp believes NOVA's current levels provide an attractive entry point for investors.

Portfolio Pulse from Nabaparna Bhattacharya

August 17, 2023 | 6:42 pm

EQT

EQT's shares are trading higher after several analysts raised their price targets for the company. This follows the Federal Trade Commission's (FTC) completion of its review of EQT's agreement to acquire Tug Hill's upstream assets and XcL Midstream's gathering and processing assets.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 6:31 pm

SNOW

A significant bearish stance has been taken on Snowflake (NYSE:SNOW) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 80% bearish and 20% bullish. Whales have been targeting a price range from $100.0 to $270.0 for Snowflake over the last 3 months. Guggenheim has downgraded its action to Sell with a price target of $105, while Mizuho maintains a Buy rating with a price target of $180, and Exane BNP Paribas has upgraded its action to Neutral with a price target of $173.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 6:30 pm

AHI

CELL

CREX

EMKR

LYTS

TRMR

WMT

US stocks traded lower with the Dow Jones falling more than 100 points. Walmart Inc reported better-than-expected Q2 earnings and raised FY24 outlook. PhenomeX Inc. shares shot up 137% after announcing a $108 million acquisition agreement with Bruker. LSI Industries Inc. shares rose 17% following better-than-expected Q4 results. Advanced Health Intelligence Ltd. shares gained 27% after obtaining overseas R&D reimbursement. Creative Realities, Inc. shares dropped 35% after reporting pricing of $6 million public offering. EMCORE Corporation shares were down 40% after reporting pricing of $15.8 million public offering. Tremor International Ltd was down 30% after reporting financial and operating results.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 6:30 pm

WEC

WEC Energy Group (NYSE:WEC) has outperformed the market over the past 20 years, producing an average annual return of 9.29%. If an investor had bought $100 of WEC stock 20 years ago, it would be worth $602.73 today.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 6:30 pm