Streetbeat News

Earnings

AXP

Recent unusual options activity in American Express (NYSE:AXP) suggests a divided sentiment among deep-pocketed investors, with a bearish tilt. Benzinga's tracking revealed 14 extraordinary activities, with a mix of puts and calls indicating a target price range of $180.0 to $230.0. The largest trades show a mix of bullish and bearish sentiments, despite the overall bearish inclination. American Express's current market position shows a slight decline in stock price with an upcoming earnings announcement.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 6:15 pm

PEP

PepsiCo (NASDAQ:PEP) has seen significant options trading activity, with a bullish sentiment prevailing among investors. Analysis of 9 trades reveals a preference for calls over puts, indicating expectations of a price increase. The trades suggest a target price window of $155.0 to $165.0. Current trading volume and a slight price decrease to $169.66, alongside an approaching earnings release, highlight investor interest and speculation on PepsiCo's future performance.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 6:15 pm

ITA

PPA

Stifel analyst Bert W. Subin lowered Boeing's price target to $260 from $270 but maintained a Buy rating, citing lower deliveries but highlighting strong orders and potential for future growth. Boeing delivered 83 aircraft this quarter, down from 130 year-ago, with 29 in March. Orders included 98 MAXs, 29 for 777s, and 4 for 787s. Subin expects build rate improvement and FCF growth in 2025+. BA stock has lost over 17% in the past year, impacting ETFs like ITA and PPA.

Portfolio Pulse from Lekha Gupta

April 10, 2024 | 6:10 pm

ADIL

ASTI

MRIN

VIAO

VLD

Ascent Solar Technologies, Inc. (ASTI) shares fell by 50% after announcing a $6 million public offering at $0.14 per share. Other stocks experienced significant movements, with Marin Software (MRIN) and Adial Pharmaceuticals (ADIL) among the top gainers, while VIA optronics (VIAO) and Velo3D, Inc. (VLD) led the losers.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 6:07 pm

NSC

Norfolk Southern Corp (NYSE:NSC) reached a $600M agreement to resolve a lawsuit related to the East Palestine derailment, viewed negatively by RBC Capital analyst Walter Spracklin. Despite reiterating a Sector Perform rating with a $270 price target, the settlement is seen as a significant negative, representing about 22% of FY24 consensus net income. The company also reported preliminary Q1 FY24 revenues of $3.004 billion and an adjusted EPS of $2.49, with expectations of operating ratio improvements. However, exposure to coal is seen as a future earnings headwind.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 5:43 pm

CVX

HES

XOM

Chevron Corp's CEO Michael Wirth's pay increased to $26.5 million in 2023, a 12% rise from the previous year, outpacing the median pay raise for employees. The increase is attributed to successful financial management and the proposed acquisition of Hess Corp. Chevron's executive compensation and shareholder returns, including a record $26.3 billion through dividends and buybacks, are highlighted amidst scrutiny from Exxon Mobil Corp over the Hess acquisition.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 5:23 pm

CMG

Investors have shown a bearish stance on Chipotle Mexican Grill (NYSE:CMG), with options trading data revealing 37 unusual trades. The sentiment is predominantly bearish, with a split of 24% bullish and 75% bearish. Large trades have targeted a price range of $2330 to $4100 for CMG over the last 3 months. The company, known for its fast-casual Mexican cuisine, reported systemwide sales of $9.9 billion in 2023. Despite a slight price drop of -1.02% to $2897.0, analysts have issued mixed ratings with a consensus target price of $3111.6.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 5:15 pm

AMLX

Amylyx Pharmaceuticals Inc (NASDAQ:AMLX) released interim Phase 2 HELIOS trial data for AMX0035, showing improved pancreatic function in Wolfram syndrome patients. The drug demonstrated a clinically meaningful effect on diabetes progression, visual decline, and overall disease burden. The trial's safety profile was consistent with prior data. Following disappointing Phase 3 trial data for another drug, Amylyx announced a restructuring plan, including a 70% workforce reduction to extend its cash runway into 2026. AMLX shares dropped 6.74% to $2.49.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 5:14 pm

DIA

QQQ

SPY

TLT

UUP

Inflation data for March 2024 exceeded expectations, causing stocks to sink and yields to spike as the possibility of Fed rate cuts is delayed. The iShares 20+ Year Treasury Bond ETF (TLT) and the Invesco DB USD Index Bullish Fund ETF (UUP) saw significant movements, with TLT dropping 1.6% and UUP rising 1.1%. Major indices and ETFs like SPY, DIA, and QQQ also experienced declines. Real estate stocks, including EXR, SBAC, PSA, and AMT, were among the hardest hit due to their sensitivity to interest rates. Conversely, Nvidia saw gains after a price target increase by Morgan Stanley.

Portfolio Pulse from Piero Cingari

April 10, 2024 | 5:12 pm

LRCX

Significant bearish options activity has been detected in Lam Research (NASDAQ:LRCX) by investors, with a notable split in sentiment (18% bullish, 81% bearish). The activity includes 16 unusual options trades, with a focus on price targets ranging from $650 to $1040 over the next three months. The volume and open interest trends indicate increased attention on LRCX options. Analysts have mixed views, with target prices ranging from $980 to $1100. The current stock price is $962.41, down 1.12%, with an upcoming earnings report in 14 days.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 5:01 pm