Streetbeat News

Assets

JPM

Deep-pocketed investors have shown a bearish sentiment towards JPMorgan Chase (NYSE:JPM), with options activity indicating a significant move. Benzinga's tracking revealed 30 unusual options activities, with a bearish majority. The options suggest a price target between $155.0 and $200.0. JPMorgan Chase's current market status shows a slight price increase with a potential overbought signal. An earnings announcement is expected in 37 days.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 5:45 pm

GDX

GDXJ

GLD

UUP

Gold and silver prices surged to new highs following Fed Chair Jerome Powell's hints at potential rate cuts in 2024, boosting mining stocks and ETFs. The SPDR Gold Trust (GLD) and Invesco DB USD Index Bullish Fund ETF (UUP) experienced significant movements, alongside a rally in mining stocks and ETFs like the VanEck Gold Miners ETF (GDX) and the VanEck Junior Gold Miners ETF (GDXJ).

Portfolio Pulse from Piero Cingari

March 06, 2024 | 5:43 pm

CLSK

MARA

RIOT

Bitcoin mining stocks Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are rising due to a Bitcoin price rebound. Bitcoin's recent rally is attributed to the demand surge following spot Bitcoin ETF approvals and anticipation of April's halving event. Marathon Digital, Riot Blockchain, and CleanSpark have seen stock increases of 4.11%, 1.39%, and 10.6% respectively.

Portfolio Pulse from Adam Eckert

March 06, 2024 | 5:42 pm

ABBV

CVS

EXAS

GSK

LLY

PFE

SANA

TMO

UNH

VKTX

Today's session highlighted significant whale activity in the health care sector, focusing on options trading for stocks like PFE, ABBV, GSK, SANA, LLY, VKTX, UNH, EXAS, CVS, and TMO. The trades varied in sentiment, with some bullish and others bearish, indicating diverse expectations for these stocks' future performances. The options activity, involving both calls and puts, suggests investors are actively positioning for potential movements in these health care stocks.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 5:35 pm

ABNB

AMZN

BABA

BBY

MBLY

NIO

RIVN

TSLA

Today's session highlighted significant whale activity in the Consumer Discretionary sector, focusing on options trading for stocks like TSLA, F, RIVN, ABNB, BBY, NIO, BABA, AMZN, MBLY, and HD. The activity ranged from neutral to bullish and bearish sentiments, with various expiration dates and strike prices. This could indicate potential trading opportunities based on the whales' movements.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 5:35 pm

AAPL

AMD

CRWD

HPQ

INTC

MARA

MRVL

MSFT

NVDA

PLTR

Today's session highlighted significant options activity in the Information Technology sector, with notable movements in stocks like NVDA, AMD, AAPL, INTC, MSFT, CRWD, MRVL, MARA, HPQ, and PLTR. The activity ranged from bearish to bullish sentiments, with various expiration dates and strike prices, indicating diverse trading strategies and expectations from large investors or 'whales'. This could signal upcoming volatility or shifts in these stocks.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 5:35 pm

BAC

Bank of America (NYSE:BAC) has seen unusual options activity indicating a mixed sentiment among big-money traders, with 43% bullish and 56% bearish. A total of 37 uncommon options trades were spotted, with puts totaling $794,333 and calls totaling $2,086,584. The options suggest a price window of $30.0 to $42.0 for BAC. The largest trades include both bullish and bearish calls with expiration dates ranging from 2024 to 2025 and strike prices from $30.00 to $42.00. Bank of America, a major US financial institution, has a current stock price of $35.65, up 0.73%, with an RSI indicating it may be approaching overbought territory.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 5:31 pm

ALB

LINRF

Albemarle (NYSE:ALB) plans to issue $2 billion in convertible preferred stock, equating to 13% of its market cap, following a 50% market cap reduction last year due to falling lithium prices and a failed acquisition of Liontown Resources (OTCPK: LINRF). The stock dropped 20% after the announcement, erasing February's gains. Despite a healthy balance sheet and low net debt/EBITDA ratio, analysts are surprised by the move. Lithium prices are rising, and Albemarle's shares are seen as undervalued by Morningstar. Piper Sandler rates Albemarle as Sell due to potential shareholder dilution and funding challenges for future projects.

Portfolio Pulse from Stjepan Kalinic

March 06, 2024 | 5:30 pm

ENB

Enbridge's Mainline system is not expected to lose significant oil volume to the Trans Mountain Expansion. The company forecasts a 4.5 BCFD increase in gas production in Western Canada by 2040. CEO states there are no plans for business spinoffs and is optimistic about meeting Canada's oil growth with additional pipeline capacity without significant capital expenditure.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:20 pm

ENB

Enbridge anticipates a growth in Western Canada's oil supply by 500,000 barrels per day (bpd) through 2025, with pipeline utilization expected to reach 99% by 2026. The company's CEO also mentioned a focus on small tuck-in acquisitions rather than larger deals for the year.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:19 pm