Streetbeat News

Earnings

ABT

Abbott Laboratories (NYSE:ABT) has seen significant options activity, with an equal mix of bullish and bearish sentiment among investors. The trades suggest a price range target of $92.5 to $115.0. Current trading volume is 1,707,071 with a price increase of 0.43% to $111.65. Analysts from Citigroup and Evercore ISI Group maintain positive outlooks with price targets of $128 and $125, respectively. The anticipated earnings release is in 6 days.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:31 pm

CLSK

CRPT

MSTR

MVPA

MicroStrategy Inc (NASDAQ:MSTR) has caused short sellers to incur losses of $1.92 billion since March, due to its significant bitcoin holdings and the stock's performance surpassing Bitcoin itself. The SEC's approval of spot bitcoin ETFs has mainstreamed cryptocurrency investments, impacting short positions against companies like Coinbase and CleanSpark, Inc (NASDAQ:CLSK), with losses of $593.50 million and $106.40 million respectively. MicroStrategy plans to further increase its bitcoin holdings, already at nearly 190,000 bitcoins by the end of 2023, by raising funds through convertible debt sales. Despite challenges, such as a 280% increase in the cost of refinancing its convertible bonds, MicroStrategy's stock has surged 390% since late 2020. Investors can also gain exposure to MicroStrategy through ETFs like First Trust SkyBridge Crypto Industry And Digital Economy ETF (NYSE:CRPT) and Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:MVPA).

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 6:19 pm

WBA

Financial analysis reveals a bearish trend in options trading for Walgreens Boots Alliance (NASDAQ:WBA), with 57% of trades showing bearish sentiment. The analysis of 14 unusual trades indicates a targeted price range of $15.0 to $50.0. The largest trades include both puts and calls, with a notable bearish sentiment in put options. Walgreens Boots Alliance, a major retail pharmacy chain in the U.S., is currently trading at $18.08, with potential signs of being oversold. The company's earnings release is anticipated in 75 days.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:17 pm

ISRG

High-rolling investors have shown a bearish stance on Intuitive Surgical (NASDAQ:ISRG) through recent options trades, with a significant volume of bearish options activity detected. The sentiment among these investors is predominantly bearish, with a notable split of 25% bullish and 75% bearish. The trading activity suggests an expected price range for ISRG between $355.0 and $410.0 over the next three months. Current market data shows ISRG's price slightly down by -0.4%, with an anticipated earnings release in 7 days. Analyst opinions on ISRG are mixed, with an average target price of $437.33, indicating potential upside.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:16 pm

AAPL

VGT

XLK

BofA analyst Wamsi Mohan maintains a Buy rating on Apple Inc (AAPL) with a price target of $225, highlighting the company's underestimated long-term gross margin potential. Apple's gross margins exceeded expectations at 44%, driven by a premium product mix, in-house technologies, and a focus on service revenue monetization. Mohan projects fiscal 2024 sales and EPS of $396.24 billion and $6.70, respectively. Apple's stock performance and exposure through ETFs like Vanguard Information Tech ETF (VGT) and SPDR Select Sector Fund – Technology (XLK) are also noted.

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 6:14 pm

GLD

NKE

NVDA

PARA

TLT

VRTX

Stocks rebounded with the Nasdaq 100 leading gains, up 1.2%, driven by Nvidia's 3.1% surge. The Producer Price Index (PPI) inflation was slightly lower than expected, affecting Fed rate cut expectations. Treasury yields were mixed, impacting the iShares 20+ Year Treasury Bond ETF (TLT), which fell 0.2%. Gold, tracked by the SPDR Gold Trust (GLD), rose nearly 1%, while Bitcoin softened. Notable stock movements included Nike's 3.8% rise after an upgrade, Paramount Global's 6.5% rally, and significant drops for Globe Life, CarMax, and Nikola Corp. Vertex Pharmaceuticals announced a $4.9 billion deal to buy Alpine Immune Sciences.

Portfolio Pulse from Piero Cingari

April 11, 2024 | 6:13 pm

BLK

JPM

STT

WFC

Upcoming Q1 2024 earnings reports from major U.S. banks like JPMorgan Chase, Wells Fargo, BlackRock, Citigroup, and State Street are anticipated to offer insights into the economy's health. Analysts predict Main Street-focused banks may outperform Wall Street-oriented ones due to higher interest rates. Citigroup received a Buy rating with a raised price target, while JPMorgan and Wells Fargo are also viewed positively by analysts, suggesting potential for exceeding expectations in fee revenue.

Portfolio Pulse from Piero Cingari

April 11, 2024 | 6:06 pm

AIG

American Intl Gr (NYSE:AIG) has seen a significant surge in options activity, with a bullish sentiment from high-rolling investors. Benzinga's options scanner revealed 8 notable trades, with a majority being calls. The trading volume and open interest suggest a focus on a price band between $62.5 and $80.0. Analysts have given AIG an average target price of $82.6, with various ratings from 'In-Line' to 'Overweight'. The company's stock is currently down by -1.18%, with an RSI indicating a neutral position. An earnings announcement is expected in 20 days.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:02 pm

Whales have shown a bullish stance on Altria Group (NYSE:MO), with unusual options activity indicating a split sentiment of 70% bullish and 30% bearish. The activity suggests a price target range of $22.5 to $60.0. Altria Group, a leading tobacco company, has seen its stock price slightly decrease, with an earnings announcement expected soon. Analyst opinions on MO are mixed, with target prices ranging from $36 to $50.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:01 pm

ROOT

Analyst ratings for Root Inc (NASDAQ:ROOT) have varied over the past quarter, with a recent shift towards a more neutral stance. The latest average 12-month price target is $27.17, significantly higher than the previous $10.50, indicating a potential increase of 158.76%. Analysts from firms like Wells Fargo, Jefferies, and Citigroup have raised their price targets, reflecting optimism about Root's future performance. Despite this, Root's financial indicators such as market capitalization, revenue growth, net margin, ROE, ROA, and debt management present a mixed picture, suggesting both opportunities and challenges ahead.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:01 pm