Streetbeat News

Stock Prices

JPM

A significant bearish stance has been taken on JPMorgan Chase (NYSE:JPM) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 44% bullish and 55% bearish. The whales have been targeting a price range from $135.0 to $160.0 for JPMorgan Chase over the last 3 months. The price of JPM is currently down -0.95% at $145.74. RBC Capital and HSBC have downgraded their actions on JPMorgan Chase, while Morgan Stanley maintains their Overweight rating.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 7:00 pm

BAC

Unusual options activity has been observed for Bank of America (NYSE:BAC), with a large position indicating a bullish stance. The options scanner at Benzinga spotted 48 uncommon trades, with a sentiment split of 66% bullish and 33% bearish. The whales have been targeting a price range from $20.0 to $40.0 for Bank of America over the last 3 months. HSBC, Piper Sandler, and RBC Capital have given their expert opinions on the bank's stock.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 6:45 pm

LEN

Lennar Corporation (NYSE:LEN) has seen unusual options activity, with a significant number of investors taking a bearish stance. Of the 21 strange trades detected, 52% were bearish and 47% bullish. The total amount for puts was $607,471 and for calls, $294,607. Whales have been targeting a price range from $110.0 to $120.0 for Lennar over the last 3 months. The current price of LEN is $113.0, down -0.12%. Analysts from BTIG, UBS, JP Morgan, Citigroup, and RBC Capital have maintained their ratings on Lennar.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 6:45 pm

SQ

A significant bearish stance has been taken on Block (NYSE:SQ) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 43% bullish and 56% bearish. The price of SQ is down -1.64% at $44.87. Several financial institutions have downgraded their ratings on Block, with price targets ranging from $65 to $90. The next earnings are expected to be released in 41 days.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 6:45 pm

WW

Blue Cross Blue Shield (BCBS) of Michigan has issued an alert indicating that members must participate in lifestyle modification activities, including programs like WeightWatchers or Noom, before approval for weight loss drugs. This change will be effective from October 2023. The news has led to an increase in the share price of WW International, the company that owns WeightWatchers.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 6:43 pm

AMP

Ameriprise Finl Inc. (NYSE:AMP) shares are currently trading at $334.09, after a 0.93% decrease. Over the past month, the stock decreased by 0.01%, but over the past year, it spiked by 31.97%. The company's P/E ratio is 15.33, lower than the Capital Markets industry average of 42.11, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 6:30 pm

FLUX

LZM

MLGO

MOND

NEPT

Several stocks experienced significant price movements in Friday's mid-day session. MicroAlgo Inc. (MLGO) shares jumped 74% after unveiling a new algorithm to boost research institutions' performance. Lifezone Metals Limited (LZM) reported a H1 loss of $16.77 per share but still gained 27.4%. Mondee Holdings, Inc. (MOND) approved a $30 million share repurchase program, causing its shares to rise by 20%. On the other hand, Neptune Wellness Solutions Inc. (NEPT) shares dipped 45.7% after announcing a $4.5 million public offering. Flux Power Holdings, Inc. (FLUX) fell 15.1% following weaker-than-expected quarterly sales.

Portfolio Pulse from Lisa Levin

September 22, 2023 | 6:22 pm

SBLK

Star Bulk Carriers Corp (SBLK) has entered into a Repurchase Agreement with OCM XL Holdings, LP (Oaktree Shareholders) to buy back 10 million of its shares at $18.50 per share. This will reduce Oaktree's holding from 25.2% to 17.2% and its Board representation from three seats to two. The deal is funded primarily with proceeds from prior ship sales. Jefferies analyst Omar Nokta reiterated a Buy rating on SBLK with a price target of $22 and raised 4Q23 and 2024 EPS estimates.

Portfolio Pulse from Shivani Kumaresan

September 22, 2023 | 6:21 pm

IKNA

Wedbush has initiated coverage on Ikena Oncology Inc (NASDAQ:IKNA) with an Outperform rating and a price target of $11. The company's lead asset, IK-930, a selective inhibitor of the transcriptional enhanced associate domain (TEAD), is currently being evaluated in a Phase 1 monotherapy study. Another promising asset is IK-595, a RAS pathway inhibitor. IKNA shares are up 12.14% at $4.6650.

Portfolio Pulse from Vandana Singh

September 22, 2023 | 6:16 pm

DIS

Walt Disney Co (NYSE:DIS) laid off over 300 staff members in Beijing in March 2023, citing cost-saving measures. However, the layoffs were also influenced by concerns over data security, as the Beijing team had access to U.S. customer data. This move reflects the ongoing complexity of Disney's relationship with China, a crucial market for Disney. Following the layoffs, some streaming functions encountered issues, with services like Hulu experiencing disruptions. DIS shares are trading lower by 1.26% at $81.69.

Portfolio Pulse from Shivani Kumaresan

September 22, 2023 | 6:05 pm