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NB

STLA

Stellantis NV (STLA) and NioCorp Developments Ltd (NB) have signed a Rare Earth Offtake Term Sheet to enter into a definitive rare earth supply agreement. This move supports Stellantis' commitment to build resilient supply chains and reach carbon net zero by 2038. The collaboration will also boost NioCorp's path to commercial production of magnetic rare earth oxides in the U.S. The term sheet also anticipates a possible strategic investment by Stellantis in NioCorp's Elk Creek critical minerals project.

Portfolio Pulse from Shivani Kumaresan

July 06, 2023 | 5:34 pm

OXY

A significant bullish stance has been taken on Occidental Petroleum (NYSE:OXY) as evidenced by unusual options activity. The sentiment among these big-money traders is split between 63% bullish and 36% bearish. The whales have been targeting a price range from $30.0 to $72.5 for Occidental Petroleum over the last 3 months. Stephens & Co. downgraded its action to Overweight with a price target of $72, while Piper Sandler maintained their Neutral rating with a price target of $62.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:33 pm

GE

A significant amount of unusual options activity has been observed for General Electric (NYSE:GE), with a bearish stance being taken by a majority of investors. Of the 13 strange trades detected, 53% were bearish and 46% were bullish. The total amount for puts was $553,351 and for calls was $448,387. Whales have been targeting a price range from $95.0 to $125.0 for GE over the last 3 months. Barclays has maintained their Overweight rating on GE, with a price target of $125.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:33 pm

GOL

JBLU

Airline stocks, including GOL and JBLU, are trading lower due to overall market weakness and concerns about potential rate hikes.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 5:32 pm

MSFT

Morgan Stanley analyst Keith Weiss maintains an Overweight rating on Microsoft Corp (NASDAQ:MSFT) and raises the price target from $335 to $415. Weiss believes that Microsoft is well-positioned to benefit from the rapid innovation in Generative AI technologies, which could lead to significant productivity gains in enterprise software. He estimates a $90 billion incremental opportunity for Microsoft in FY25 and raises his GAAP EPS estimates for FY25 from $13.59 to $13.84. MSFT shares traded higher by 1.16% at $342.07 on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

July 06, 2023 | 5:30 pm

AMZN

RIVN

Rivian Automotive Inc (RIVN) is facing a lawsuit alleging it deceived shareholders during and after its 2021 IPO by concealing underpricing of its electric vehicles, which led to price hikes. The lawsuit involves shareholders from the IPO date until March 10, 2022. Following Rivian's price hike announcement on March 1, 2022, the company's share price dropped 39% over ten days. U.S. District Judge Josephine Staton ruled that shareholders can attempt to demonstrate that Rivian knew it would need to raise prices due to increased material costs.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 5:28 pm

UPST

Shares of Upstart are trading lower in sympathy with peer Affirm after Piper Sandler downgraded Affirm's stock from Neutral to Underweight. The stock may also be affected by overall market weakness due to concerns over further rate hikes.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 5:26 pm

NVAX

Novavax's COVID-19 vaccine, Nuvaxovid, has received full approval from the European Commission for use in individuals aged 12 and older, and as a booster dose in adults aged 18 and older. The vaccine is authorized for use in over 40 markets worldwide but has not yet been approved by the FDA. Novavax's shares are down 2.85% at $7.15.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 5:25 pm

DASH

A significant bearish stance has been taken on DoorDash (NYSE:DASH) as indicated by unusual options activity. The sentiment among big-money traders is split between 38% bullish and 61% bearish. Whales have been targeting a price range from $73.0 to $95.0 for DoorDash over the last 3 months. The price of DASH is currently down -3.54% at $76.27. Gordon Haskett and Wells Fargo have downgraded their actions on DoorDash with price targets of $72 and $70 respectively.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:17 pm

TXN

A significant bearish stance has been taken on Texas Instruments (NASDAQ:TXN) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 30% bullish and 69% bearish. The whales have been targeting a price range from $100.0 to $260.0 for Texas Instruments over the last 3 months. Susquehanna has downgraded its action to Positive with a price target of $205.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:16 pm