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LLY

Deep-pocketed investors are showing a bullish sentiment towards Eli Lilly and Co (NYSE:LLY), with a significant move in options trading detected by Benzinga. The trading activity includes 35 extraordinary options activities, with a bullish majority of 62% and a bearish minority of 31%. The price band focus is between $240.0 and $860.0. Eli Lilly, a drug firm focusing on various therapeutic areas, has seen its stock price increase by 2.32% to $752.02. Analyst ratings in the last 30 days have set an average price target of $866.2 for LLY.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 3:45 pm

IBM

On CNBC, IBM CEO Arvind Krishna discussed the company's earnings, its consulting business, competition in AI, and the acquisition of Hashicorp. The conversation highlighted IBM's strategic moves in the technology sector, focusing on growth areas such as artificial intelligence and consulting services.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 3:44 pm

ULTA

Financial analysts have observed a significant increase in options activity for Ulta Beauty (NASDAQ: ULTA), with a balanced mix of bullish and bearish trades. The analysis highlights a target price range of $375.0 to $470.0 based on recent whale activities. The largest trades include both puts and calls, indicating varied investor sentiment. Ulta Beauty, a leading beauty retailer with a broad product range and salon services, has seen its stock price slightly decrease by -1.01%, with an upcoming earnings announcement in 24 days.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 3:31 pm

FNCH

Finch Therapeutics has received a European patent (EP3664823) for a composition aimed at preventing or treating Enterococcal blood stream infections. This development could enhance Finch Therapeutics' intellectual property portfolio and potentially open up new avenues for the company in the European market.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 3:24 pm

IART

Integra LifeSciences Holdings Corporation (NASDAQ:IART) reported Q1 revenues of $368.9 million, slightly beating consensus and management guidance but down 3.1% Y/Y. Adjusted EPS was $0.55, matching consensus but lower than the previous year's $0.74. The company saw a decrease in adjusted gross margin and adjusted EBITDA compared to the prior year. Despite challenges, including a product recall at the Boston facility, Integra provided optimistic Q2 revenue guidance and updated its fiscal year 2024 revenue and adjusted EPS expectations, reflecting the completion of the Acclarent acquisition. However, IART shares fell 17.40% to $23.87.

Portfolio Pulse from Vandana Singh

May 06, 2024 | 3:23 pm

EYPT

GLYC

LYRA

NUVO

SGE

TSN

XBP

Nasdaq rose by 100 points as U.S. stocks traded higher, with Tyson Foods reporting weaker-than-expected Q2 sales. NUVO, SGE, and XBP shares surged on positive news, while LYRA, GLYC, and EYPT shares plummeted due to disappointing trial results.

Portfolio Pulse from Avi Kapoor

May 06, 2024 | 3:14 pm

ORCL

Red Hat, Inc. and Oracle have announced the general availability of Red Hat OpenShift on Oracle Cloud Infrastructure (OCI). This collaboration combines Red Hat's leading hybrid cloud application platform with Oracle's distributed cloud, offering validated and supported configurations of Red Hat OpenShift on OCI Compute Virtual Machines. The partnership aims to meet customer needs for regulatory compliance, performance, and cost-effectiveness across 69 regions. Red Hat OpenShift on OCI supports customer-managed installations with multiple installation methods and integrates OCI storage and API interoperation. The offering is critical for industries with complex regulatory environments and aims to optimize performance and cost.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 3:03 pm

AAPL

NVDA

The AI crypto coins sector is gaining momentum, with Nvidia's upcoming earnings report on May 22 highlighted as a key event. Prominent traders are focusing on AI-related cryptocurrencies like Fetch.ai (FET), Render (RNDR), and SingularityNET (AGIX), noting their potential for growth. Nvidia's earnings and Apple's WWDC AI reveal on June 10 are seen as significant catalysts, especially for Render, which is showing signs of a bullish reversal. The overall sentiment in the AI crypto sector is positive, with expectations of continued growth.

Portfolio Pulse from Khyathi Dalal

May 06, 2024 | 3:02 pm

DKNG

DraftKings Inc (NASDAQ:DKNG) shares rose following positive analyst coverage from Needham, BTIG, and BMO Capital, with raised price targets after the company reported Q1 revenue of $1.175 billion, surpassing estimates, and adjusted earnings of 3 cents per share, beating expectations for a loss. DraftKings also increased its 2024 guidance and plans to launch in Puerto Rico, with potential expansion into nine other jurisdictions pending legislation.

Portfolio Pulse from Adam Eckert

May 06, 2024 | 3:00 pm

RTX

SAVE

A Spirit Airlines executive mentioned during a conference call that the airline could conclude 2025 with approximately 70 aircraft grounded due to issues with Pratt & Whitney engines.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:44 pm