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SPY

The stock market is being pulled in opposite directions due to two different Wall Street mechanics: quarter end window dressing and quarter end rebalancing. The former involves money managers buying the best performing stocks, causing them to run up even more, while the latter involves selling stocks to buy bonds, pushing down stocks. The SPDR S&P 500 ETF Trust (NYSE:SPY) has pulled back to the top band of the top support/resistance zone. Economic data continues to be strong, with durable orders and durable goods ex-transportation exceeding consensus. Bitcoin (CRYPTO: BTC) is range bound.

Portfolio Pulse from The Arora Report

June 27, 2023 | 5:41 pm

ATVI

DIS

GOOG

LBTYA

META

MTCH

PINS

SIRI

TTD

Benzinga's options activity scanner has identified significant options activity in the Communication Services sector. The stocks involved include Liberty Global (LBTYA), Alphabet (GOOG), Disney (DIS), Activision Blizzard (ATVI), Sirius XM (SIRI), Meta Platforms (META), Match Group (MTCH), BP (BP), Pinterest (PINS), and The Trade Desk (TTD). The options activity ranges from bullish to bearish and neutral sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:39 pm

BTCUSD

ETHUSD

Nevada's regulator is seeking to place Prime Trust, a crypto custodian and payments provider, into receivership, according to Bloomberg. The news may impact the value of cryptocurrencies such as Bitcoin (BTCUSD) and Ethereum (ETHUSD).

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 5:38 pm

JPM

Over the past 15 years, JPMorgan Chase (NYSE:JPM) has outperformed the market by 1.14% on an annualized basis, producing an average annual return of 9.74%. If an investor had bought $100 of JPM stock 15 years ago, it would be worth $410.07 today.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:30 pm

ITW

Illinois Tool Works (NYSE:ITW) has outperformed the market over the past 20 years, producing an average annual return of 10.58%. If an investor had bought $100 of ITW stock 20 years ago, it would be worth $760.28 today. The company currently has a market capitalization of $75.84 billion.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:30 pm

LEN

Unusual options activity has been observed for Lennar (NYSE:LEN), with a split sentiment between bullish and bearish. The activity includes 4 puts for a total of $195,145 and 6 calls for a total of $268,809. Whales have been targeting a price range from $95.0 to $150.0 for Lennar over the last 3 months. The current price of LEN is up 3.83% at $125.71. Analysts have mixed opinions, with Deutsche Bank downgrading to Sell and a price target of $105, while BTIG maintains a Buy rating with a price target of $148.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:17 pm

ATVI

A significant amount of unusual options activity has been observed for Activision Blizzard (NASDAQ:ATVI), with 50% of investors taking a bullish stance and 50% bearish. The total amount for puts is $1,642,917 and for calls is $2,716,380. Whales have been targeting a price range from $67.5 to $95.0 for Activision Blizzard over the last 3 months. The current price of ATVI is up 0.79% at $84.06. Benchmark and Truist Securities have both downgraded their action to Buy with price targets of $90 and $84 respectively.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:17 pm

BTCUSD

Crypto custodian Prime Trust has been declared 'critically deficient' by Nevada's Department of Business and Industry, leading to a shortfall of customer funds and inability to honor withdrawals. This comes after BitGo terminated its intended acquisition of Prime Trust. Despite this, experts believe the broader digital-asset market is in a recovery phase and poised for growth, with both retail and institutional investors increasing their exposure to Bitcoin, Ethereum, and other major digital assets.

Portfolio Pulse from Murtuza Merchant

June 27, 2023 | 5:10 pm

Over the past 10 years, Gartner (NYSE:IT) has outperformed the market by 8.84% on an annualized basis, producing an average annual return of 19.28%. If an investor had bought $100 of IT stock 10 years ago, it would be worth $580.49 today. Gartner currently has a market capitalization of $26.49 billion.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:01 pm

FMX

Fomento Economico (NYSE:FMX) has outperformed the market over the past 20 years by 3.35% on an annualized basis, producing an average annual return of 10.94%. If an investor had bought $1000 of FMX stock 20 years ago, it would be worth $7,973.78 today.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:01 pm