Streetbeat News

Earnings

UPS

United Parcel Service (NYSE:UPS) has seen significant options activity, with a bearish sentiment prevailing among financial giants. Analysis of recent trades shows 75% bearishness, with puts valued at $190,030 and calls at $168,982. The options activity suggests a price window of $130.0 to $180.0. UPS's current stock price is $150.64, with a neutral RSI and an upcoming earnings report in 15 days. Analyst ratings vary, with an average target price of $147.8, but opinions range from a high of $180 to a low of $100.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 4:46 pm

WMT

Investors have shown increased interest in Walmart's (NYSE:WMT) options, with a notable split in sentiment: 55% bullish and 44% bearish. Benzinga's options scanner revealed 9 significant trades, indicating a targeted price range of $55.0 to $65.0 for WMT over the last 3 months. The volume and open interest trends suggest active trading within this range. Walmart's current market position shows a slight decrease in stock price to $59.84, with potential indicators of being oversold. The next earnings report is expected in 38 days.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 4:45 pm

SPOT

Ahead of its Q1 earnings release on April 23, Spotify Technology SA (NYSE:SPOT) is viewed positively by JPMorgan analyst Doug Anmuth, who raised his price target from $280 to $320. Anmuth anticipates revenue growth acceleration, margin expansion, and positive cash flow for Spotify in 2024, citing potential from podcasts and strategic initiatives. He also sees room for price increases in select markets and approves of the hiring of CFO Christian Luiga. Spotify's stock has risen 135% over the past year, with a 64% increase YTD.

Portfolio Pulse from Surbhi Jain

April 08, 2024 | 4:37 pm

SCHW

The Schwab Trading Activity Index (STAX) rose to 51.65 in March from 47.65 in February, indicating moderate market exposure among Schwab clients who favored Information Technology, Health Care, and Consumer Staples sectors. Despite mixed macroeconomic data, U.S. equity markets reached new highs, with the Nasdaq and S&P 500 soaring, while the VIX and U.S. Dollar Index remained stable. Economic indicators showed mixed signals, with jobless claims slightly higher than expected, a significant increase in nonfarm payrolls, and a rise in both CPI and PPI. Fed Chairman Powell noted a gradual decrease in inflation, but consumer confidence dipped. May Crude Oil Futures surged by 8.7%.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 4:33 pm

SPGI

Whales have shown a bearish stance on S&P Global (NYSE:SPGI), with options trading indicating a preference for bearish positions over bullish ones. Analysis of options trades reveals a focus on a price window of $420.0 to $460.0 for SPGI. The company, a major player in providing data and benchmarks to markets, has seen its stock price remain stable at $431.59, with an upcoming earnings report in 17 days.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 4:16 pm

BAC

Recent options trading activity for Bank of America (NYSE:BAC) indicates a bearish sentiment among large investors, with a notable split of 33% bullish and 66% bearish trades. The trading volume and open interest suggest a targeted price range of $25.0 to $42.0 for BAC over the last 3 months. The largest trades observed include both bearish and neutral sentiments, with significant amounts invested in calls. Bank of America, a major US financial institution, is approaching its earnings announcement, with its stock price slightly up and trading volume at 11,837,130.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 4:16 pm

AGEN

AUUD

LGVN

PERI

PLOW

WTO

Perion Network Ltd. significantly reduced its FY24 revenue guidance, causing its shares to tumble by 35%. Meanwhile, Auddia Inc., UTime Limited, and Longeveron Inc. saw their shares surge due to positive developments. Douglas Dynamics faced a downgrade from Baird, and Agenus Inc. announced a reverse stock split. Overall, U.S. stocks traded higher, with consumer discretionary shares leading gains and energy shares lagging.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 4:12 pm

ABCL

AbCellera (NASDAQ:ABCL) presented new data on its T-cell engager (TCE) programs at AACR 2024, showcasing advancements in cancer therapy. The data highlighted TCEs with potent tumor-cell killing and low cytokine release for targets like PSMA, B7-H4, and 5T4, and costimulatory CD28-binding antibodies enhancing T-cell activation without toxicity. Additionally, AbCellera is expanding TCE target space with high specificity for MAGE-A4-pMHC. These developments position AbCellera to advance TCEs as a drug class, potentially improving efficacy and safety for solid tumor treatments.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 4:06 pm

EXAS

Exact Sciences Corp. (NASDAQ:EXAS) will present data from the ASCEND-2 study at the AACR Annual Meeting 2024, showcasing the effectiveness of its investigational multi-cancer early detection (MCED) blood test. The study, involving over 11,000 participants, demonstrates high detection rates and specificity for aggressive cancers and those without standard screening tests. Additionally, outcomes from the DETECT-A study will be presented, highlighting the potential of MCED tests in revolutionizing cancer screening.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 4:06 pm