Don't get too excited about its resiliency, defense contractors only go down after they get a big contract. Uncle Sam must be getting ready to buy some drones or something.
GM- Keurig Dr Pepper Stock Could Continue Climb Carbonated beverage giant Keurig Dr Pepper Inc (NASDAQ:KDP) is up 1.1% to trade at $39.54 at last glance, earlier hitting a record high of $39.67. The stock could see even more tailwinds ahead, however, according to data from Schaeffer's Senior Quantitative Analyst Rocky White. Specifically, this peak comes amid historically low implied volatility (IV) -- a combination that has been bullish for the stock in the past. According to White's data, there were three other instances in the past five years when the stock was trading within 2% of its 52-week high, while its Schaeffer's Volatility Index (SVI) sat in the 20th annual percentile or lower -- as is the case with the stock's current SVI of 18%, which sits in the 19th percentile of its 12-month range. KDP was positive one month later after each of these signals, averaging a return of 4.1%. Up 7.3% year-to-date, a similar move would send the stock to another set of highs. The equity rose above several long-term moving averages at the end of June, including the 150-day trendline, and has potential support at the $38 level. There is plenty of space for bull notes amongst analysts as well. Of the 10 in coverage, five still carry a tepid "hold" rating, with five a "buy" or better. Plus, the 12-month consensus price target of $40.89 is a slim 3.3% premium to current levels.
-- Officer of Keurig Dr Pepper (KDP) Maurice Milikin purchased 12,979 shares of company stock at $39.66 per share for a total transaction amount of $514,747
Helix Energy acquires leases in Gulf of Mexico from MP GOM 16:19 HLX Helix Energy Solutions Group announced that its wholly owned subsidiary Deepwater Abandonment Alternatives has acquired from MP Gulf of Mexico, a joint venture controlled by Murphy Exploration & Production Company - USA, all of MP GOM's 62.5% interest in Mississippi Canyon Block 734, comprised of three wells and related subsea infrastructure, collectively known as the Thunder Hawk Field. Pursuant to the terms of the transaction, Helix receives the benefit of ownership of MP GOM's interest, with a November 1, 2021 effective date purchase price adjustment resulting in nominal cash paid by MP GOM at closing, in exchange for the assumption of MP GOM's abandonment obligations at the Thunder Hawk Field. In addition to anticipated future production revenue, DAA will operate the Thunder Hawk Field with Helix eventually expected to perform the required plug and abandonment operations. Owen Kratz, President and Chief Executive Officer of Helix, stated, "This acquisition furthers Helix's Energy Transition business model by taking on decommissioning obligations in exchange for production revenues. We have long communicated our unique position as a qualified offshore field operator that can also assume and efficiently discharge decommissioning obligations. We continue to pursue opportunities that enable us to enhance and extend the life of existing reserves and safely perform the related decommissioning of the infrastructure, in transactions that allow producers to remove non-core assets from their balance sheets. Following on from the past successful acquisition of our Droshky properties, we are excited to build upon this model with the acquired interest in the Thunder Hawk Field."
Immersion exec buys $256.6K in common stock 17:58 IMMR In a regulatory filing, Immersion disclosed that its Chief Strategy Officer William Martin bought about 45K shares of common stock on August 25th in a total transaction size of $256.6K. IMMR-$ 5.70
Snap introduces Dual Camera 'to capture multiple perspectives' 17:59 SNAP The Snap Team blogged, in part earlier, "Snap's Camera is one of the most used cameras in the world. Today, we're introducing Dual Camera, a new way for Snapchatters to capture multiple perspectives at the same time - so everyone can be part of the moment, as it happens.Open your Snapchat and you'll see a new icon in the camera toolbar. With one simple tap, you can start creating Snaps and Stories, or more polished Spotlight videos, with double the perspective. Dual Camera is a creative way for our community to capture exciting moments while being part of the memory - like rocking out at a music festival, or everyday moments like your culinary adventures in the kitchen Dual Camera has four layouts including vertical, horizontal, picture in picture, and cutout. Snapchatters can also add beloved Snapchat creative tools, including music, Stickers and Lenses. Dual Camera will be available globally on iOS today, with Android support in the coming months." 3M sets final exchange ratio in connection with Neogen transaction 18:36 MMM, NEOG 3M (MMM) "announced the final exchange ratio of 6.7713 for its split-off exchange offer to 3M stockholders to exchange their shares of 3M common stock for shares of common stock of Garden SpinCo Corporation. The exchange offer is being conducted in connection with the previously announced pending separation of 3M's food safety business and the subsequent merger of SpinCo, a subsidiary of 3M formed to hold the food safety business, with a subsidiary of Neogen Corporation (NEOG). For each share of 3M common stock that is validly tendered and accepted for exchange, 3M will deliver approximately 6.7713 shares of SpinCo common stock. Upon completion of the merger, each share of SpinCo common stock will be converted into the right to receive one share of Neogen common stock. As a result, 3M stockholders who tender shares of 3M common stock in the exchange offer will receive approximately 6.7713 shares of Neogen common stock for each share of 3M common stock accepted for exchange. Because the final exchange ratio is less than the upper limit, the upper limit is not in effect."
--Spire Global initiated with a Buy at Canaccord 05:16 SPIR --Citi cautious into Ollie's results, opens 'negative catalyst watch' 06:16 OLLI Citi analyst Paul Lejuez is cautious on Ollie's Bargain Outlet going into the Q2 earnings report this week and opened a "negative catalyst watch" on the shares for "several reasons." Expectations have become more elevated since the Q1 earnings, off-price retailers are still not benefitting from a trade down customer, and Ollie's execution is still a risk, Lejuez tells investors in a research note. The analyst believes the company is likely to slow store growth in fiscal 2023. He keeps a Neutral rating on the shares with a $55 price target. --Bowlero initiated with an Overweight at JPMorgan 06:31 BOWL JPMorgan analyst Kevin Heenan initiated coverage of Bowlero with an Overweight rating and $17 price target. Show Related Items >> --Viper Energy price target raised to $41 from $38 at Raymond James 06:53 VNOM, FANG Raymond James analyst John Freeman raised the firm's price target on Viper Energy (VNOM) to $41 from $38 and keeps an Outperform rating on the shares following "solid" Q2 results that saw oil production and total production beat expectations and "strong production figures" flow through to their quarterly distribution. Viper's competitive advantage with their Diamondback Energy (FANG) relationship, combined with top tier assets in the Permian, make it a "compelling yield vehicle" for investors, Freeman said.