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A significant amount of unusual options activity has been observed for Procter & Gamble (NYSE:PG), with a bearish stance taken by a 'whale' investor. Of the 27 strange trades detected, 48% were bullish and 51% were bearish. The total amount for puts was $811,975 and for calls was $2,419,675. Whales have been targeting a price range from $115.0 to $165.0 for Procter & Gamble over the last 3 months. The current price of PG is up 0.69% at $157.34. Citigroup, B of A Securities, Morgan Stanley, and Wells Fargo have all given price targets above the current price.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:50 am

CMBM

FRSH

IDAI

LIDR

LTCH

MLNK

SEDG

WAVD

During Wednesday's intraday session, several IT stocks experienced significant movements. WaveDancer, T Stamp, AEye, Freshworks, Rubicon Technologies, and Clear Secure saw gains, while Latch, Cambium Networks, MeridianLink, XIAO-I, SolarEdge Technologies, and D-Wave Quantum experienced losses. Q2 earnings reports were recently released for Freshworks, Clear Secure, Cambium Networks, MeridianLink, and SolarEdge Technologies.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:50 am

SHW

Sherwin-Williams's (NYSE:SHW) short percent of float has risen 10.43% since its last report, with 3.02 million shares sold short, which is 1.27% of all regular shares available for trading. It would take traders 2.68 days to cover their short positions on average. The company has less short interest than most of its peers, with the average for its peer group being 3.75%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:49 am

APA

BPT

CNQ

DVN

OXY

PSX

PUMP

TTE

WDS

WTI

Energy stocks are trading lower as oil prices fall, despite a draw in crude inventories. This is potentially due to macro concerns following Fitch's downgrade of the US credit rating.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:49 am

Shares of Electronic Arts (EA) are trading lower following the release of the company's Q1 earnings report.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:49 am

DWAC

Digital World Acquisition Corp. (NYSE:DWAC) shares are trading lower following the resignation of the company's auditor, Marcum, LLP. The auditor's previous reports did not contain any adverse opinions, except for a concern about the company's ability to continue as a going concern. DWAC also faces challenges related to the indictment of former President Donald Trump, who is associated with the company.

Portfolio Pulse from Erica Kollmann

August 04, 2023 | 11:49 am

ACT

Enact Holdings reported better-than-expected Q2 adjusted EPS results and announced a new $100 million share repurchase program, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:49 am

RIVN

Rivian Automotive has seen a significant option alert for October 20 $35 calls, with 2320 contracts traded near the ask price at $1.3, compared to an open interest of 2758 contracts. The company is set to announce its earnings on August 8, after market close. The reference price is $25.5.

Portfolio Pulse from Charles Gross

August 04, 2023 | 11:49 am

PGR

Progressive's (NYSE:PGR) short percent of float has risen 11.32% since its last report, with 3.46 million shares sold short, which is 0.59% of all regular shares available for trading. It would take traders 1.0 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Progressive's peer group average for short interest as a percentage of float is 2.77%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:49 am

APPN

ASAN

AZPN

Shares of software and IT stocks are trading lower following Fitch's downgrade of the US credit rating, which has negatively impacted risk sentiment.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:48 am