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BP plc shares are trading higher due to the Israel-Hamas conflict which is causing oil supply uncertainty. The conflict could lead to supply disruptions in the Middle East, a major oil-producing region, causing oil prices to surge. BP, being a major player in the global oil market, stands to benefit from increased oil prices as its profitability is directly linked to the price of oil.

Portfolio Pulse from Henry Khederian

October 09, 2023 | 7:54 pm

CBOE

Piper Sandler has reiterated an Overweight rating for CBOE Global Markets Inc. (NYSE:CBOE) with a $174 price target, citing the company's potential to benefit from the current geopolitical turmoil. Over 70% of CBOE's revenue comes from transaction and clearing fees on its options market, and its SPX and VIX derivative products are expected to see increased demand due to the uncertainty. The unexpected resignation of CEO Ed Tilly has also sparked speculation about a potential sale of the company, which could boost its share price.

Portfolio Pulse from Piero Cingari

October 09, 2023 | 7:47 pm

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XOM

The ongoing conflict in Israel is causing concerns in the energy market, particularly around the transportation of oil. Israel is not a major oil producer, but tensions with Iran, which controls the Strait of Hormuz, could impact the region's energy markets. The focus is on the price difference between Brent crude and West Texas Crude (WTI), with a narrowing spread indicating increasing demand for WTI. This could lead to record U.S. export numbers by year's end. Energy stocks like Exxon Mobil and Chevron are rallying, but also face geopolitical risks. Oil transportation companies like Teekay Tankers and Euronav NV could benefit from increased domestic production and export demand.

Portfolio Pulse from Kevin Green

October 09, 2023 | 7:37 pm

AVGO

Broadcom Inc.'s stock price is currently at $841.06, marking a 0.50% decrease in the current market session. However, the stock has increased by 1.06% over the past month and by 97.94% over the past year. Broadcom's P/E ratio is lower than the aggregate P/E of 37.37 of the Semiconductors & Semiconductor Equipment industry, which could indicate that the stock is undervalued or that shareholders do not expect the stock to perform better in the future.

Portfolio Pulse from Benzinga Insights

October 09, 2023 | 7:30 pm

TGT

A whale investor has taken a bullish stance on Target (NYSE:TGT), with 64% of investors opening trades with bullish expectations and 35% with bearish. The mean open interest for Target options trades today is 1135.46 with a total volume of 2,446.00. The price of TGT is up 0.4% at $105.44. Stifel, B of A Securities, and Truist Securities have maintained their Hold rating on Target, while HSBC downgraded its action to Hold.

Portfolio Pulse from Benzinga Insights

October 09, 2023 | 7:01 pm

A significant bearish stance has been observed in Blackstone's (NYSE:BX) options activity. Of the 17 unusual trades detected, 58% were bearish and 41% bullish. The total amount for puts was $741,731 and for calls was $434,818. Whales have been targeting a price range from $40.0 to $110.0 for Blackstone over the last 3 months. The price of BX is currently down -0.6% at $104.5. HSBC has downgraded its action to Hold with a price target of $113.

Portfolio Pulse from Benzinga Insights

October 09, 2023 | 6:45 pm

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SFT

US stocks traded higher with the Dow Jones gaining around 200 points. Energy shares rose by 3.5% while consumer staples shares fell by around 0.5%. ParaZero Technologies, Phoenix Motor, and National Western Life Group saw their shares rise significantly after positive news. Shift Technologies, Kubient, and Falcon's Beyond Global saw their shares drop due to negative developments. Oil traded up 4.4% to $86.40.

Portfolio Pulse from Lisa Levin

October 09, 2023 | 6:44 pm

XOM

Exxon Mobil Corp (NYSE:XOM) shares are trading higher by 3.46% due to the Israel-Hamas conflict which is causing oil supply uncertainty. The conflict can disrupt the flow of oil in the Middle East, a major oil-producing region, leading to concerns about oil availability. Exxon Mobil, as an energy company, benefits from rising oil prices and supply disruptions as it can sell its oil and gas products at higher prices.

Portfolio Pulse from Henry Khederian

October 09, 2023 | 6:42 pm

ONON

Baird analyst Jonathan R. Komp upgraded On Holding AG (NYSE:ONON) to Outperform from Neutral and maintained a price target of $33. The company expects to double its 2023-2026 net sales to at least CHF 3.55 billion by 2026, reflecting a CAGR of over 26%. The analyst raised estimates for FY24 and FY25 adjusted EBITDA by 1% and 6%, respectively, assuming higher margin improvement. ONON's shares are trading higher by 2.27% at $25.68.

Portfolio Pulse from Lekha Gupta

October 09, 2023 | 6:38 pm

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ZTS

The article reports on the recent options activity in the Health Care sector. It mentions 10 US-listed companies: Ardelyx (ARDX), UnitedHealth Group (UNH), GE Healthcare (GEHC), Zoetis (ZTS), Danaher Corporation (DHR), Crinetics Pharmaceuticals (CRNX), Amgen (AMGN), Seagen (SGEN), Hims & Hers Health (HIMS), and Mirati Therapeutics (MRTX). The article provides details on the type of options (put/call), trade type, sentiment, expiration date, strike price, total trade price, open interest, and volume for each company.

Portfolio Pulse from Benzinga Insights

October 09, 2023 | 5:35 pm