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BSAQ

Black Spade Acquisition Co (BSAQ) and VinFast have announced that their shareholders have approved their merger, which is expected to close on August 14. This news has led to an increase in BSAQ's share price.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 6:24 pm

META

TTD

Trade Desk Inc (TTD) reported 2Q results ahead of expectations, with its 3Q guide slightly above expectations. Analysts have mixed sentiments about the company's valuation and the adoption of UID2. While some analysts maintained a Market Perform, Outperform, or Buy rating, others maintained a Sell rating. The company's shares traded lower by 4.63% at $77.18 on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

August 10, 2023 | 6:21 pm

ALGN

Unusual options activity has been observed for Align Tech (NASDAQ:ALGN), with a large position indicating a bullish stance. The sentiment among these big-money traders is split 50% bullish and 50% bearish. The price target for Align Tech, based on volume and open interest, ranges from $195.0 to $380.0. Goldman Sachs and Morgan Stanley have maintained their Neutral and Overweight ratings on Align Tech, respectively.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 6:16 pm

MAR

A significant amount of unusual options activity has been observed for Marriott Intl (NASDAQ:MAR), with a majority of investors taking a bullish stance. Whales have been targeting a price range from $145.0 to $210.0 for Marriott Intl over the last 3 months. The stock's current price is $208.72, up 1.26%. Several financial institutions have maintained their ratings on Marriott, with price targets ranging from $189 to $232.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 6:16 pm

DIS

PENN

Penn Entertainment (NASDAQ:PENN) is partnering with The Walt Disney Company (NYSE:DIS) to launch an ESPN Bet-branded sportsbook in the fall. Penn will license the ESPN Bet trademark for 10 years with a potential extension, rebrand its Barstool Sportsbook to ESPN Bet, and sell 100% of Barstool Sports back to its founder. Penn will pay ESPN $1.5 billion over the initial 10 years and also pay Disney warrants and performance-based warrants. Disney is looking for additional partnerships for ESPN.

Portfolio Pulse from Chris Katje

August 10, 2023 | 6:12 pm

GPOR

KeyBanc Capital Markets analyst Tim Rezvan has upgraded Gulfport Energy Corporation (NYSE:GPOR) from Sector Weight to Overweight, with a price target of $145. The company is planning $40 million of land acquisitions in Ohio, which could add 25-30 locations. Gulfport's hedge book, which is 49% hedged for natural gas in 2024, offers strong cash flow visibility. However, Rezvan has lowered FY23 and FY24 EPS estimates for the company.

Portfolio Pulse from Nabaparna Bhattacharya

August 10, 2023 | 6:10 pm

DCPH

THRX

Stifel has upgraded Deciphera Pharmaceuticals Inc (DCPH) to Buy from Hold, with a price target of $20 from $14, following the discontinuation of Theseus Pharmaceuticals Inc's (THRX) Pan-KIT method. The termination of THRX's method has made DCPH's strategy more competitive. The continuous expansion of Qinlock's core business, the prospective commercial roll-out of vimseltinib, and potential long-term gains from Qinlock label enhancements are encouraging signs.

Portfolio Pulse from Vandana Singh

August 10, 2023 | 6:09 pm

WeWork shares are experiencing volatility and trading higher due to retail investor interest. This comes after the company expressed substantial doubt about its ability to continue operations.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 6:09 pm

BTCUSD

GBTC

Crypto-services provider Matrixport predicts that the U.S. Securities and Exchange Commission (SEC) might approve multiple spot bitcoin exchange-traded funds (ETFs) soon, potentially boosting Bitcoin's value. The SEC is expected to address Grayscale's GBTC lawsuit and the ARK 21Shares Bitcoin ETF reapplication soon, with responses to seven other Bitcoin ETF applications anticipated in early September. Matrixport suggests that a physical Bitcoin ETF might charge a management fee between 0.7% to 1%, potentially generating around $200 million annually for these ETF providers.

Portfolio Pulse from Murtuza Merchant

August 10, 2023 | 6:05 pm

ARKQ

BOTZ

FXI

KWEB

SMH

SOXX

President Joe Biden has signed an executive order restricting certain U.S. investments in China’s key technology sectors, including semiconductors, microelectronics, quantum technology, and specific AI systems. The order aims to prevent U.S. capital and expertise from enhancing China’s military modernization. Analysts at Raymond James suggest that the immediate backlash from China will be limited. The order could potentially tighten if U.S.-China tensions intensify. ETFs with exposure to U.S. and China tech sectors that investors can watch include iShares Semiconductor ETF (SOXX), VanEck Semiconductor ETF (SMH), Global X Robotics and Artificial Intelligence ETF (BOTZ), KraneShares CSI China Internet ETF (KWEB), iShares China Large-Cap ETF (FXI), and ARK Autonomous Technology & Robotics ETF (ARKQ).

Portfolio Pulse from AJ Fabino

August 10, 2023 | 6:04 pm