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Recent options trading trends for Alcoa (NYSE:AA) show a bullish sentiment among investors, with 69% of trades being bullish. The trading volume and open interest suggest a price target range of $25.0 to $35.0 for Alcoa. The company, a major player in the aluminum industry, is currently trading at $30.35, down by -2.19%. Analysts, including one from B of A Securities, have set an average price target of $32.0, maintaining a Neutral rating.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 5:30 pm

WFC

Recent analysis of Wells Fargo (NYSE:WFC) options trading reveals a bullish sentiment among 'whale' investors, with a significant portion of trades expecting price movements between $35.0 and $62.5. The analysis, which included 11 trades, showed a majority of bullish trades (63%) compared to bearish ones (36%). Notably, the trading volume and open interest in WFC options have been concentrated within this price range over the last three months. Currently, WFC's stock is slightly down by -0.39%, trading at $57.55, with an anticipated earnings release in 24 days.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 5:16 pm

BMY

Deep-pocketed investors have shown a bearish sentiment towards Bristol-Myers Squibb (BMY), with a notable shift in options activity. Benzinga's tracking revealed 13 extraordinary options activities, with a bearish majority of 69% among investors. The options target a price range of $43.0 to $57.5 for BMY over the last 3 months. The company, a leader in immuno-oncology, shows a significant U.S. market dependence, with its stock price slightly up by 0.34% at $51.77.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 5:15 pm

AMD

CAR

DIA

JWN

QQQ

SPY

TME

XLC

XLE

Wall Street had a mixed performance with the S&P 500 up 0.4%, tech stocks slightly down, and energy stocks rallying. The U.S. dollar strengthened, and Bitcoin plummeted below $65,000. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust showed varied movements. Energy Select Sector SPDR Fund was the top performer, while Communication Services Sector SPDR Fund lagged. Stocks like AMD, TME, JWN, IP, and CAR had notable movements due to various factors.

Portfolio Pulse from Piero Cingari

March 19, 2024 | 5:15 pm

MATICUSD

USDCUSD

Investors and analysts are anticipating the Federal Reserve's potential rate cuts in 2024, with the FOMC meetings being closely watched. The Fed hinted at three rate cuts for 2024, adjusting from an initial four due to higher inflation. Goldman Sachs economist Alec Phillips predicts these cuts in June, September, and December. The crypto prediction market Polymarket has over $3.1 million wagered on the timing of these cuts, with a majority betting on a cut by June 12.

Portfolio Pulse from Chris Katje

March 19, 2024 | 4:54 pm

ELF

e.l.f. Beauty (NYSE:ELF) has seen unusual options activity, with a bullish sentiment from deep-pocketed investors. Benzinga's tracking revealed 15 extraordinary options activities, with a split sentiment of 53% bullish and 46% bearish. Significant trades include both puts and calls, aiming for a price range of $80.0 to $230.0. The company, known for its cosmetic products, is currently trading at $195.2, down by -0.84%. Analysts have given an average target price of $223.0, with various ratings from Market Perform to Overweight.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 4:45 pm

CVX

XLE

XOM

U.S. energy stocks, particularly those within the Energy Select Sector SPDR Fund (XLE), have rallied 16% from January 2024 lows, outperforming all S&P 500 sectors over the past month. This surge is attributed to a 15% year-to-date increase in oil prices and a 16% rise in natural gas prices. Despite this, Wall Street analysts have not significantly revised price targets or earnings forecasts for these stocks, including Exxon Mobil Corp. (XOM), which has seen its median price target slightly decline. The sector's performance is bolstered by strong seasonality in March and April, and technical indicators suggest a bullish outlook with a potential golden cross signal. Chevron Corp (CVX) also typically sees high returns in April, aligning with the sector's historical performance.

Portfolio Pulse from Piero Cingari

March 19, 2024 | 4:43 pm

QCOM

Over the past 5 years, Qualcomm (NASDAQ:QCOM) has outperformed the market with an annualized return of 23.78%, turning a $1000 investment into $2,896.08 today. Qualcomm's market capitalization stands at $185.19 billion.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 4:31 pm

COST

Recent analysis of options activity for Costco Wholesale (NASDAQ:COST) reveals a bearish sentiment among significant investors, with 55% of trades being bearish. The trading range is expected between $265.0 to $785.0 over the next three months. Notable options activity includes a mix of bullish, bearish, and neutral sentiments with varying expiration dates and strike prices. Costco's current stock price is $730.62, slightly down by -0.13%, with professional analysts setting an average price target of $805.0. The company's business model focuses on bulk sales at low prices, maintaining a strong market share in the warehouse club industry.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 4:31 pm

AAPL

AMZN

GOOG

NVDA

TSLA

Nvidia is extending its AI dominance, with its stock becoming a favorite for speculative trading, particularly in options. The company announced Blackwell, a successor to its Hopper AI chip, promising significant performance improvements. Meanwhile, the Bank of Japan raised interest rates for the first time in 17 years, which could have long-term negative implications for the U.S. stock market. Early trade money flows show positive trends for AAPL and GOOG, but negative for AMZN, META, MSFT, NVDA, TSLA, SPY, and QQQ. The momo crowd is actively buying stocks, gold, and oil in early trades.

Portfolio Pulse from The Arora Report

March 19, 2024 | 4:23 pm