Streetbeat News

Earnings

LEGN

Legend Biotech announced that CARVYKTI generated approximately $157M in net trade sales for the quarter ended March 31.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:42 pm

GM

General Motors (NYSE:GM) has seen unusual options activity, indicating a divided sentiment among deep-pocketed investors, with 50% bullish and 50% bearish. The activity focuses on a price band between $36.5 and $55.0. GM's current market performance shows a slight decline, with an anticipated earnings release in 7 days. Analysts maintain a positive outlook, with an average price target of $48.75. The company's history, market share recovery, and future prospects with its Cruise autonomous vehicle arm are also highlighted.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 3:31 pm

MSFT

NVDA

QQQ

SPY

TLT

TSLA

The article discusses the significant drop in 20+ year Treasury bond ETF (TLT) despite geopolitical tensions, which typically drive up U.S. Treasuries. It highlights the unusual market behavior where Treasuries fall, indicating lower stock valuations, contrary to expectations during the Iran-Israel conflict. The IMF warns the U.S. about excessive spending, while global growth forecasts increase slightly. U.S. housing starts and building permits have slowed, and China's GDP growth shows underlying weakness. Money flows are positive for NVIDIA and Microsoft, neutral for Amazon, Apple, Alphabet, and Meta, negative for Tesla, and mixed for SPDR S&P 500 ETF Trust and Invesco QQQ Trust. The article also notes the selling of gold and oil by the momo crowd, with smart money inactive, and mentions Bitcoin's trading activity around a halving event.

Portfolio Pulse from The Arora Report

April 16, 2024 | 3:30 pm

ADI

AVGO

KLAC

MCHP

MRVL

MU

SNPS

SOXX

JPMorgan analyst Harlan Sur is optimistic about the semiconductor industry, forecasting 6%-8% revenue growth in 2024 after a decline in 2023. The iShares Semiconductor ETF (SOXX) has outperformed the S&P 500 YTD. Key growth drivers include accelerated compute and AI demand, recovery in auto and industrial segments, and an upswing in the memory industry. Sur's top picks include Broadcom (AVGO), Marvell (MRVL), Micron (MU), Analog Devices (ADI), Microchip Technology (MCHP), KLA Corp (KLAC), and Synopsys (SNPS).

Portfolio Pulse from Surbhi Jain

April 16, 2024 | 3:17 pm

ULTA

Investors have shown a bearish stance on Ulta Beauty (NASDAQ:ULTA), with options data revealing 16 transactions, predominantly puts. The trading sentiment is mixed but leans heavily towards bearish, with a focus on a price band between $310.0 and $515.0. Ulta Beauty, a leading beauty retailer with a partnership with Target, has seen its stock price decrease by -2.33%, with an RSI indicating potential oversold conditions. The next earnings report is expected in 37 days.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 3:16 pm

OXY

Recent unusual options activity in Occidental Petroleum (NYSE:OXY) indicates a bearish sentiment among deep-pocketed investors, with a significant portion of activity leaning towards puts over calls. The options activity suggests a price target range of $60.0 to $85.0. Despite this, analysts have mixed views on OXY, with target prices ranging from $69 to $90. The company's stock is currently down -3.12% at $66.21, with next earnings expected in 21 days.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 3:16 pm

AG

First Majestic Silver's shares dropped following the announcement of their Q1 production results.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:16 pm

NTRS

Northern Trust shares are trading lower following worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:06 pm

LE

Lands' End (NASDAQ:LE) received updated analyst ratings, with a unanimous bullish outlook from 4 analysts. The average 12-month price target is now $13.75, up from $11.00, indicating a 25.0% increase. Despite this optimism, Lands' End faces financial challenges, including a revenue decline of -2.79%, a net margin of -1.67%, and below-average ROE and ROA. The company's market capitalization and revenue growth lag behind industry peers, suggesting potential difficulties ahead.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 3:01 pm

HD

Home Depot (NYSE:HD) has been analyzed by 23 analysts, showing a mix of bullish to bearish sentiments. The average 12-month price target is $388.91, marking a 4.37% increase from the previous target of $372.61. Analyst actions range from maintaining to raising and lowering ratings, with price targets adjusted accordingly. Home Depot's financials indicate a -2.92% revenue decline over the last 3 months, yet it maintains strong profitability metrics such as an 8.05% net margin and a 226.43% ROE. The company's debt-to-equity ratio is 50.04, indicating high debt levels.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 3:01 pm