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AMD

AMD's latest financial report shows a significant increase in its Data Center and Client Segments, with revenues up 80% and 85% YoY respectively. However, the Gaming and Embedded segments experienced substantial declines, down 48% and 46% respectively.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:17 pm

CAVA

Benzinga's options scanner revealed significant activity in Cava Group (NYSE:CAVA) options, with a bullish bias among big-money traders. A total of 22 unusual options trades were detected, with a split sentiment of 54% bullish and 36% bearish. The focus is on a price band between $45.0 and $100.0. Notable trades include bullish and bearish calls and puts with various strike prices and expiration dates. Cava Group, a fast-casual Mediterranean restaurant chain, is currently trading up by 2.54% at $72.38, with an anticipated earnings release in 14 days. Analyst ratings on CAVA vary, with an average target price of $69.2.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 8:01 pm

INQD

MRMD

The DEA's decision to move cannabis from Schedule I to Schedule III under the Controlled Substances Act has been met with widespread approval from industry leaders. MariMed and Indoor Harvest Corp specifically expressed positive outlooks, highlighting the decision's potential to benefit consumers, patients, and the industry at large. The move is seen as a significant shift in drug policy, with implications for medical recognition, business operations, and global cannabis markets.

Portfolio Pulse from Rolando García

April 30, 2024 | 7:58 pm

GFS

ON

QCLN

SHOC

Analysts from Benchmark, Goldman Sachs, and BofA Securities provided updates on ON Semiconductor (NASDAQ:ON), citing SiC and the auto market as key growth drivers. Despite near-term challenges, such as inventory digestion and tepid demand, the long-term outlook remains positive due to ON's exposure to secular growth areas like Electrification and ADAS. Price targets were adjusted, reflecting cautious optimism about ON's growth trajectory amidst global SiC capacity expansion and a shift towards lower content auto platforms. ON's stock is part of ETFs QCLN and SHOC, offering investors additional exposure.

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 7:31 pm

KO

LLY

MCD

Eli Lilly's (LLY) recent earnings report showed a beat on EPS estimates and an increase in 2024 revenue guidance, attributed to the success of its weight-loss drug Mounjaro, contrasting with McDonald's (MCD) and Coca-Cola (KO) reporting underwhelming quarters. The rise in weight-loss drug prescriptions, such as Ozempic, Wegovy, and Mounjaro, to over 8 million last year suggests a shift in American consumption habits, potentially impacting fast food and soda sales.

Portfolio Pulse from Aaron Bry

April 30, 2024 | 7:22 pm

LLY

Eli Lilly (LLY) reported a mixed Q1 with revenue of $8.77 billion, slightly missing expectations but with an adjusted EPS of $2.58, beating consensus. Mounjaro sales underperformed, while Zepbound exceeded expectations. The company is focusing on increasing supply for incretin products and expects significant growth in 2024. Lilly recently acquired a manufacturing facility to boost production. Discussions also touched on expanding payor access for Zepbound and the potential for tirzepatide to secure Part D reimbursement for obesity comorbidities.

Portfolio Pulse from Vandana Singh

April 30, 2024 | 7:11 pm

JNJ

Significant bearish options activity has been observed in Johnson & Johnson (NYSE:JNJ), with a notable volume of puts compared to calls. The sentiment among big-money traders is predominantly bearish, with a price target range of $145.0 to $155.0. Despite this, analysts have varied ratings on JNJ, with a consensus target price of $179.4. The stock's current price is $145.22, with indicators suggesting it may be oversold. The company is preparing to divest its consumer group under the name Kenvue in 2023.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 6:46 pm

AMD

NVDA

SPRX

ZS

Advanced Micro Devices, Inc (AMD) is trading flat ahead of its Q1 earnings, with analysts expecting earnings of 61 cents per share on revenues of $5.46 billion. Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on AMD with a price target of $250. The Spear Alpha ETF (SPRX), which includes AMD as one of its top holdings, offers diversification for investors bullish on AMD. SPRX has seen a 60% increase over the last twelve months. AMD's stock is currently in an uptrend, but technical analysis suggests the possibility of a local top.

Portfolio Pulse from Melanie Schaffer

April 30, 2024 | 6:45 pm

CGC

Recent options activity for Canopy Growth (NASDAQ:CGC) shows a bullish trend among investors, with 60% of trades being bullish and 34% bearish. The focus is on a price range of $5.0 to $21.0. Notable trades include bullish calls and a mix of bullish and neutral puts, with significant volumes and open interest in options. Canopy Growth, a cannabis company, is merging its U.S. assets into Canopy USA. The stock price is up 36.06% at $11.32, with potential overbought signals. Next earnings are expected in 51 days.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 6:30 pm

SQNXF

Square Enix Holdings Co Ltd (OTC:SQNXF) announced a $140.9 million loss due to game cancellations, impacting its fiscal year ending March 2024. The company is shifting its game development strategy to focus on high-definition video games for PC and consoles, becoming more selective in resource allocation. This decision follows a review of its development pipeline, though specific cancelled titles were not disclosed. Despite projecting a 16.8% increase in sales, Square Enix is re-evaluating its forecasts due to this writedown. The company continues to develop major titles like Final Fantasy 7 Rebirth and Kingdom Hearts 4.

Portfolio Pulse from Franca Quarneti

April 30, 2024 | 6:20 pm