Streetbeat News

Earnings

RTX

Recent options trading activity indicates a bullish sentiment towards RTX (NYSE:RTX), with a significant portion of trades being calls over puts. Investors are targeting a price range of $85.0 to $135.0 for RTX in the coming months. Notable trades include both bullish calls and puts, with expectations for price movements within specific strike prices. RTX, a major aerospace and defense company, has seen its stock price slightly decrease by -0.32% to $101.03, with analysts giving mixed but generally positive ratings and target prices ranging from $105 to $120. The company's next earnings report is expected in 12 days.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 5:46 pm

ELVN

Enliven Therapeutics Inc (NASDAQ:ELVN) released Phase 1 clinical trial data for ELVN-001, a kinase inhibitor targeting BCR-ABL gene fusion in CML patients. The trial showed a 44% major molecular response rate at 12 weeks, with no significant toxicities, supporting once-daily dosing. ELVN shares surged 23.60% to $24.50.

Portfolio Pulse from Vandana Singh

April 11, 2024 | 5:44 pm

DAL

BofA Securities analyst Andrew G. Didora has reiterated a Buy rating on Delta Air Lines Inc (NYSE:DAL) and increased the price target from $53 to $55, following Delta's reported first-quarter 2024 operating revenue growth of 8% year-over-year to $13.748 billion and an adjusted EPS of $0.45, surpassing the consensus of $0.36. The positive outlook, driven by better-than-expected unit revenue and cost control, along with robust demand for transatlantic and premium products, has led to an increase in the 2024E EPS forecast to $6.81 from $6.57. Delta's shares rose 3.1% to $47.67.

Portfolio Pulse from Shivani Kumaresan

April 11, 2024 | 5:40 pm

APVO

ELYM

ENLV

FAST

RCEL

RENT

RLYB

Fastenal Company's shares dropped by around 7% due to disappointing Q1 FY24 financial results, with sales and EPS missing consensus estimates. Other stocks experienced significant movements, with Rallybio Corporation, Rent the Runway, and Eliem Therapeutics among the top gainers, while Aptevo Therapeutics, Enlivex Therapeutics, and AVITA Medical led the losers.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 5:33 pm

SOFI

Smart money investors have shown a bullish stance on SoFi Technologies (NASDAQ:SOFI), with 76% of detected trades being bullish. The options trading activity indicates a target price range of $5.0 to $15.0 for SOFI over the last 3 months. Recent trading volume and analyst ratings suggest a cautious but optimistic outlook for SOFI, with an average price target of $10.125 by four analysts. The company, known for its wide range of financial services, is approaching its earnings announcement, which could influence its stock price.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 5:31 pm

Analysts have recently updated their ratings and price targets for Edwards Lifesciences (NYSE:EW), showing a generally positive outlook. Over the last three months, 10 analysts offered diverse opinions, with recent updates indicating raised price targets and ratings ranging from 'Buy' to 'Neutral'. The average 12-month price target is now $96.00, up from $86.22, suggesting an 11.34% increase. Edwards Lifesciences, known for its medical devices for heart disease, shows strong financial performance with a solid revenue growth rate, impressive net margin, and ROE, alongside effective debt management.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 5:00 pm

CIFR

CLSK

JPMorgan's report anticipates the upcoming Bitcoin halving event on April 20 could significantly impact the mining industry, potentially leading to consolidation and business closures. The event is expected to reduce mining rewards by 50%, causing a 30%-40% decline in the industry's gross profits and a 13% decrease in the network hashrate. CleanSpark (NASDAQ:CLSK) is highlighted as well positioned to benefit from the halving, while Cipher Mining (NASDAQ:CIFR) may face challenges due to high overheads and tough hashrate comparisons.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 4:50 pm

AAPL

IIPR

TSLA

Innovative Industrial Properties (IIPR), a cannabis-focused real estate investment trust, has outperformed major stocks like Tesla (TSLA), Apple (AAPL), Citigroup (C), and Zillow Group (ZG) over the past year with a return of 36.26%. IIPR has been paying quarterly dividends since Q2 2017 and reported a slight increase in net income for Q4 2023. The company owns 108 properties across the U.S. and will be a topic at the upcoming Benzinga Cannabis Capital Conference.

Portfolio Pulse from Nina Zdinjak

April 11, 2024 | 4:45 pm

OMQS

RELL

In Thursday's intraday session, several information technology stocks experienced significant movements. OMNIQ, Edgio, Alpha Technology Group, Verb Tech, Richardson Electronics, and Alarum Technologies were among the gainers, with OMNIQ leading at a 64.5% increase. Conversely, Nano Labs, ClearOne, VIA optronics, Semantix, Auddia, and CXApp faced declines, with Nano Labs dropping by 51.4%. Richardson Electronics' stock rise followed their Q3 earnings release.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 4:31 pm

QQQ

SPY

The Producer Price Index (PPI) for March 2024 increased to 2.1% year-over-year, slightly below expectations, following a consumer price inflation report that exceeded forecasts. The SPDR S&P 500 ETF Trust (SPY) remained flat, while the Invesco QQQ Trust (QQQ) saw a modest rebound. Economists and analysts suggest the mixed PPI data, alongside consecutive months of rising CPI, indicate a reduced likelihood of Federal Reserve rate cuts this year, with any potential adjustments not expected until at least July. The data has led to a reevaluation of the Fed's pivot on interest rates, with future monthly PPI gains expected to be higher.

Portfolio Pulse from Piero Cingari

April 11, 2024 | 4:28 pm