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GILD

Gilead Sciences (NASDAQ:GILD) has seen significant options trading activity, with a bearish sentiment prevailing among financial giants. Analysis of 13 unusual trades shows a mix of bullish (38%) and bearish (61%) positions, with puts and calls indicating a targeted price range of $55.0 to $77.5. The largest options trades include both bullish and bearish sentiments, with notable trades aiming at strike prices between $55.00 and $67.50. Gilead, known for its life-threatening infectious disease treatments, has seen its stock price slightly increase by 0.63% to $65.19, with an upcoming earnings announcement in 87 days.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 7:15 pm

DIS

Disney is set to report its Q2 earnings with expectations of $22.12 billion in revenue and EPS of $1.10, aiming for a 20% YoY improvement. Analysts are optimistic, highlighting Disney's growth strategy under CEO Bob Iger, strong theme park performance, and potential Disney+ subscriber growth driven by new content like Taylor Swift's concert film and 'Bluey'. Despite a weak box office showing in 2024, Disney's upcoming releases and cost-cutting measures are in focus. Shares are up 29% YTD.

Portfolio Pulse from Chris Katje

May 06, 2024 | 7:11 pm

EYPT

GLYC

LYRA

PRFT

SAVE

SGE

XBP

U.S. stocks saw gains with the Dow Jones rising by 0.35% and NASDAQ by 0.95%. Energy shares led the gains, while consumer staples fell. Spirit Airlines' shares dropped after missing Q1 revenue and EPS estimates. Perficient surged 53% post-acquisition news and earnings report. Strong Global Entertainment jumped 120% on acquisition news by FG Acquisition Corp. XBP Europe Holdings gained 55% after winning a $40 million contract. Lyra Therapeutics, GlycoMimetics, and EyePoint Pharmaceuticals saw significant drops due to disappointing trial results.

Portfolio Pulse from Avi Kapoor

May 06, 2024 | 7:04 pm

AAPL

ARM

MCHP

KeyBanc analyst John Vinh provided insights on the semiconductor industry, highlighting stabilization in analog cyclical semis and robust AI data center demand. Apple's results indicate steady iPhone demand, with China and emerging markets performing well. Vinh is optimistic about upcoming earnings for ARM and Microchip Technology, citing solid results and guidance due to favorable trends in cloud, AI, and high-end handsets. He also notes potential risks for Cirrus Logic due to its high exposure to Apple and for Indie Semiconductor from auto sector weakness.

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 6:59 pm

Whales have shown a bearish stance on Li Auto (NASDAQ:LI), with options trading indicating a mixed sentiment among big-money traders. Benzinga's options scanner revealed 16 unusual options trades, with a split sentiment of 37% bullish and 50% bearish. The trades suggest a price target window of $24.0 to $34.0 for Li Auto. The company, a leading Chinese NEV manufacturer, reported selling over 376,000 NEVs in 2023, capturing about 4% of China's passenger NEV market. Li Auto's stock is currently up by 3.93%, with a trading volume of 10,096,597 and an RSI indicating a neutral position. Analyst ratings in the last month have set an average target price of $32.5 for Li Auto.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 6:45 pm

Outset Medical, Inc. (NASDAQ:OM) shares surged after announcing FDA clearance for TabloCart with prefiltration, resuming its distribution in the U.S. This development highlights the company's commitment to innovation in dialysis treatment, significantly impacting trading volume with over 14.13 million shares traded, far exceeding the 100-day average.

Portfolio Pulse from Erica Kollmann

May 06, 2024 | 6:40 pm

GOOGL

IYW

MSFT

NVDA

XLK

Microsoft Corp is developing a new AI language model, MAI-1, to compete with Alphabet Inc's Google and OpenAI. Led by Mustafa Suleyman, this model aims to surpass Microsoft's previous models in size and capability. Microsoft's recent AI advancements, including the Phi-3-mini model, have positioned it as a leader in generative AI. The MAI-1 model, expected to be unveiled at the Build developer conference, could have significant implications for Microsoft's AI strategy. Microsoft stock has seen a 33% increase over the past 12 months, with exposure available through ETFs like XLK and IYW.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 6:34 pm

LCTX

Lineage Cell Therapeutics' shares surged following the announcement of positive 24-month visual acuity results from a Phase 1/2a clinical study of RG6501 in patients with geographic atrophy secondary to age-related macular degeneration.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 6:13 pm

JNJ

Johnson & Johnson (NYSE:JNJ) released promising data from its bladder cancer studies, TAR-210 and TAR-200, and a prostate cancer study involving Erleada. TAR-210 showed a 90% recurrence-free survival rate in one cohort and a 90% complete response rate in another. TAR-200 demonstrated a 74.6% estimated 1-year duration of response rate, with 85% of responders remaining in complete response. The prostate cancer study with Erleada reported a 100% biochemical recurrence-free rate at 24 months. Despite these positive results, JNJ shares were down 0.50% at $148.52.

Portfolio Pulse from Vandana Singh

May 06, 2024 | 6:10 pm

ADAUSD

AVAXUSD

BTCUSD

DOTUSD

ETHUSD

PEPEUSD

SHIBUSD

SOLUSD

Cryptocurrency trader Lark Davis cautions that Bitcoin could still face a correction despite bullish indicators like MACD bull cross and RSI breakout. He notes Bitcoin's strength and potential for a rally, but warns investors not to get overly confident. Davis also discusses the altcoin market, highlighting Ethereum's Layer-2 networks, competition among top blockchains like Cardano, Polkadot, and Avalanche, and the rise of meme coins such as Shiba Inu and Pepe.

Portfolio Pulse from Khyathi Dalal

May 06, 2024 | 5:55 pm