Streetbeat News

Assets

AMAT

AVGO

INTC

NVDA

Bank of America's Equity Strategy data shows a decline in the relative weighting of S&P 500 semiconductor and EDA stocks from July 2023 to January 2024, with Nvidia maintaining the broadest ownership among fund managers. Ownership expansions were noted in Broadcom, Micron Technology, Applied Materials, Intel, Nvidia, and Cadence Design Systems, while significant declines were observed in Microchip Technology, First Solar, Enphase Energy, NXP Semiconductors, AMD, Qualcomm, and KLA Corp. Intel, ON Semiconductor, and AMD saw the most significant increases in overweighting, whereas First Solar, Qorvo, Teradyne, Applied Materials, and Qualcomm experienced the largest decreases. Long-only investors and hedge funds showed distinct preferences in their overweight positions.

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 9:18 pm

HPK

HighPeak Energy has projected its capital expenditure for FY24 to be between $500M and $585M. This financial planning indicates the company's investment strategy and operational focus for the upcoming fiscal year.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:17 pm

SBUX

Recent options trading activity for Starbucks (NASDAQ:SBUX) shows a bullish sentiment among significant investors, with 65% of detected trades being bullish and 35% bearish. The trades consist of 6 puts and 14 calls, with a notable concentration on strike prices ranging from $75.0 to $115.0. The current market status of SBUX shows a slight increase in stock price to $91.45, with indicators suggesting it may be approaching oversold territory. The next earnings report is expected in 55 days.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 8:46 pm

AIG

American Intl Gr (NYSE:AIG) has seen a 9.0% increase in short percent of float since its last report, with 6.57 million shares sold short, representing 1.09% of available shares. This increase in short interest indicates a more bearish market sentiment towards AIG, although it has less short interest compared to its peer group average of 1.90%. The rise in short interest does not necessarily predict a near-term price fall but suggests increased bearishness among traders.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 8:30 pm

BECN

Beacon Roofing Supply (NYSE:BECN) has seen a decrease in short interest, now at 4.57% of float, lower than its last report. The short interest represents 1.89 million shares, and it would take approximately 3.07 days for traders to cover their short positions. This change in short interest could indicate a shift in market sentiment towards BECN, potentially signaling a more bullish outlook. Additionally, BECN's short interest is slightly higher than its peer group average of 4.48%.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 8:30 pm

PEPEUSD

Pepe (CRYPTO: PEPE) has seen a 14% increase in the past 24 hours, outperforming rivals Dogecoin and Shiba Inu. Binance introduced PEPE/USDC trading pairs, contributing to a 36,530% gain since Pepe's launch. All Pepe holders are currently in profit, with a significant increase in large transactions and trading volumes reaching over $3 billion. The token's integration with Arbitrum and Binance Smart Chain has been highlighted, and anticipation grows for a potential Coinbase listing.

Portfolio Pulse from Khyathi Dalal

March 06, 2024 | 8:18 pm

Options market activity indicates a bullish stance on Micron Technology (NASDAQ:MU), with 55% of investors showing bullish expectations. Significant trading activity aims for a price range of $60.0 to $150.0 over the next three months. Micron Technology, a major semiconductor company, is currently trading at $95.13, up by 0.7%, with an RSI suggesting it may be approaching overbought territory. An analyst from Mizuho maintains a Buy rating with a target price of $105.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 8:15 pm

DOGEUSD

SHIBUSD

SOLUSD

The resurgence of memecoins like Shiba Inu, Dogecoin, Dogwifhat, and Bonk is driven by technical developments, increased token burns, and community engagement. Dogecoin is enhancing its blockchain for more use cases, while Shiba Inu's token burn and Shibarium platform boost its utility. Solana-based memecoins, Bonk and Dogwifhat, benefit from investor interest and Solana's support for memecoin culture.

Portfolio Pulse from Murtuza Merchant

March 06, 2024 | 8:00 pm

BTCUSD

ETHUSD

Bitcoin (BTC) soared past $69,000 before experiencing an 11% drop, yet remained above $65,000, indicating strong investor interest. Ethereum (ETH) also saw a surge but didn't reach a new high. Experts predict a positive outlook for Bitcoin, citing the upcoming halving event, increasing institutional and retail interest, and the approval of spot Bitcoin ETFs as key drivers. They recommend strategies like focusing on the long term, dollar-cost averaging, thorough research, diversification, and seeking professional guidance for investors.

Portfolio Pulse from Murtuza Merchant

March 06, 2024 | 7:27 pm

CRWD

GLD

IWM

JWN

NVDA

NYCB

PLTR

Markets rallied following Fed Chair Jerome Powell's reassurances about easing monetary policy in 2024 if inflation targets are met. The Nasdaq 100 led gains among major indices. The iShares Russell 2000 ETF, Nvidia, and the SPDR Gold Trust were among the notable performers. Other assets like Bitcoin also saw increases. Several companies reacted to earnings reports, with CrowdStrike and Palantir Technologies seeing significant gains, while New York Community Bancorp and Nordstrom faced steep declines.

Portfolio Pulse from Piero Cingari

March 06, 2024 | 7:24 pm