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WFC

High-rolling investors are showing a bullish sentiment on Wells Fargo (NYSE:WFC) through significant options trading activity, as reported by Benzinga. The analysis of publicly available options data revealed 11 trades, with a majority being bullish. The focus is on a price band between $37.5 and $66.0. The trading volume and open interest in WFC options have been highlighted, with the largest trades being bullish calls. Wells Fargo, a major US bank, is currently trading up by 1.25% at $57.9. Market experts have issued ratings with a consensus target price of $65.0, indicating a positive outlook on the stock.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 2:16 pm

SOUHY

TMQ

VMXXF

The Biden administration's plan to block the Ambler Road project in Alaska, which would have provided access to a mining district for copper and other minerals exploration, has drawn criticism from the mining industry, state officials, and some native groups. The decision is seen as a conflict between environmental protection and the need for domestic mineral sources for renewable energy. Companies like Trilogy Metals Inc. (TMQ) and South32 (SOUHY), part of the Ambler Metals joint venture, and Valhalla Metals Inc (VMXXF) are directly affected, expressing disappointment and considering legal options. The decision also highlights divisions among native tribes and concerns about economic development and environmental impacts.

Portfolio Pulse from Matt Whittaker

April 18, 2024 | 2:07 pm

HES

Recent analyst ratings for Hess Corporation (NYSE:HES) show a mix of perspectives, with 2 somewhat bullish and 4 indifferent ratings in the last three months. The average 12-month price target for HES has increased to $176.33 from $170.50, indicating a positive outlook from analysts. Hess's financial performance includes a revenue growth rate of 2.62% as of December 31, 2023, but it faces challenges in net margin, ROE, ROA, and debt management. The company is an independent oil and gas producer with significant assets and production levels.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 2:00 pm

PXD

Pioneer Natural Resources (NYSE:PXD) has delivered an average annual return of 17.94% over the past 15 years, turning a $1000 investment into $12,407.74 today. With a current market capitalization of $62.52 billion, PXD's performance highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 2:00 pm

BTCUSD

CKBUSD

ETHUSD

INJUSD

Bitcoin and Ethereum experienced declines following unchanged U.S. jobless claims data, with Bitcoin falling below $63,000 and Ethereum staying above $3,000. The global crypto market cap dropped by 0.7%. Injective was the top gainer, while Nervos Network was the biggest loser among cryptocurrencies.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 1:52 pm

LKQ

LKQ Corporation's (NYSE:LKQ) short interest has decreased by 22.99% since the last report, with 3.40 million shares sold short, representing 1.44% of its float. The current short interest suggests a bullish sentiment among investors, as it takes an average of 3.3 days to cover short positions. LKQ's short interest is significantly lower than its peer group average of 7.98%, indicating less bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 1:30 pm

SPY

Fed's Williams stated that the current Federal Reserve rates have not overly slowed the economy, have helped reduce economic imbalances, and believes monetary policy is well-positioned. He sees no urgent need to cut rates but acknowledges that interest rates will need to be lowered eventually.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:28 pm

LEEEF

LEEF Brands, Inc. reported improved margins and EBITDA in Q1 fiscal 2024, following a merger with Icanic Brands and the acquisition of Salisbury Canyon Ranch for cannabis cultivation. The company saw a 35% increase in net revenue and a 347% increase in adjusted EBITDA in Q4 2024, with a year-over-year revenue growth of 13% for FY 2023. CEO Micah Anderson highlighted the company's progress and the strategic moves leading to these results.

Portfolio Pulse from Jelena Martinovic

April 18, 2024 | 1:24 pm

ZURA

Zura Bio Limited (NASDAQ:ZURA) announced a $112.5M private placement of 20.1M Class A shares at $3.108 each to fund operations through 2027. The placement, led by Access Biotechnology and other major investors, aims to accelerate the development of tibulizumab for autoimmune diseases. The deal, expected to close on April 22, 2024, includes pre-funded warrants and is in compliance with Nasdaq rules. Piper Sandler, Guggenheim Securities, and Cantor are the lead placement agents.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:23 pm

JPM

JPMorgan analysts predict a potential decline in Bitcoin's price following its upcoming halving, contrary to popular expectations of a surge. They cite the halving's effects already being priced in, an overbought market, high valuation, and lack of robust venture capital funding as key factors. Additionally, the halving is expected to impact miners significantly, leading to a possible consolidation in the industry.

Portfolio Pulse from Murtuza Merchant

April 18, 2024 | 1:22 pm