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MRVL

Deep-pocketed investors have shown a bearish sentiment towards Marvell Tech (NASDAQ:MRVL), with options trading data revealing a significant move. Benzinga's options scanner detected 13 extraordinary activities, indicating a divided sentiment among investors: 38% bullish and 53% bearish. The trading activity suggests a target price range of $60.0 to $70.0 for MRVL in the next three months. Notable options activity includes both calls and puts with varying sentiments and strike prices. Marvell Technology, a leading fabless chip designer, has seen its stock price increase by 1.03% to $65.52. Analysts have mixed opinions, with an average target price of $89.4, ranging from $85 to $95.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 2:31 pm

FXI

SPY

VGK

U.S. Treasury Secretary Yellen expressed concerns about global overdependence on China for a range of products, stating that China has agreed to extended discussions on the issue. She highlighted that the overcapacity problem developed over years and won't be solved quickly. Yellen also mentioned that all options are open regarding the U.S. response to this dependency.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:24 pm

SPY

VGK

U.S. Treasury Secretary Yellen stated in a Reuters interview that European nations have taken a constructive step regarding frozen Russian assets by segregating profits and agreeing to transfer them to Ukraine. She mentioned that there are multiple options available and aims to present several to G7 leaders.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:18 pm

SPY

In a Reuters interview, U.S. Treasury Secretary Yellen announced an increase in the estimated spending for clean energy tax credits, stating it will enhance the security of the American economy.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:17 pm

M

Macy's (NYSE:M) reported a decrease in short interest, with 16.65 million shares sold short, representing 6.84% of its float. This marks a 10.47% decline from the last report. The current short interest suggests a bullish sentiment among investors, as it takes approximately 2.31 days to cover all short positions. Compared to its peers, Macy's has a lower short interest percentage, indicating less bearish sentiment relative to its peer group average of 9.07%.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 2:15 pm

PM

Philip Morris Intl (NYSE:PM) has seen a 9.3% increase in short percent of float since its last report, with 7.33 million shares sold short, representing 0.47% of available shares. The short interest in PM is lower than its peer group average of 9.93%. This rise in short interest indicates a more bearish market sentiment towards PM, but it's not necessarily a predictor of a near-term price drop.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 2:15 pm

BTBT

Bit Digital (NYSE:BTBT) has seen a 13.95% increase in short interest since its last report, with 18.13 million shares sold short, representing 15.52% of its float. This is higher than the peer group average of 8.17%. The rise in short interest suggests a bearish market sentiment, but it's also noted that an increase in short interest can sometimes be bullish.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 2:15 pm

SPY

In a Reuters interview, U.S. Treasury Secretary Yellen stated that the dollar has been strong compared to other currencies, but highlighted divergences with other countries. She emphasized that currency intervention should only occur in rare and exceptional circumstances.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:10 pm

HMC

Honda announced plans to expand its production capacity with a new battery plant adjacent to its existing facility in Ontario, aiming for a maximum annual capacity of 36 gigawatt hours. This expansion is expected to add 1,000 employees.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:09 pm

BTCUSD

Veteran traders and analysts predict a short-term complacency bounce for Bitcoin, suggesting it could face another 10%-20% drop soon. Despite a temporary recovery, the market's weakness and resistance levels indicate potential declines. Large transaction volumes and daily active addresses have increased, yet Bitcoin's price has dropped 6% monthly. Currently, 86% of Bitcoin holders are in profit.

Portfolio Pulse from Khyathi Dalal

April 25, 2024 | 2:02 pm