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Financial giants have shown a bearish stance on Deere (NYSE:DE), with options trading revealing 100% bearish sentiment. Notable trades include 6 puts and 2 calls, targeting a price range of $370.0 to $440.0. Deere's current market status shows a trading volume of 1,049,522 with a price of $411.97, and it is potentially overbought. An analyst from Truist Securities downgraded Deere to Buy with a price target of $494. The company is a leading manufacturer of agricultural equipment, with a vast dealer network.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 7:01 pm

ALPN

NVS

VERA

VRTX

Vertex Pharmaceuticals Incorporated (VRTX) has agreed to acquire Alpine Immune Sciences Inc (ALPN) for approximately $4.9 billion in cash, at $65 per share. Analysts from Evercore, BofA, and William Blair have commented positively on the acquisition, highlighting the potential of Alpine's lead molecule, povetacicept (ALPN-303), and its alignment with Vertex's nephrology and cystic fibrosis pipelines. Evercore upgraded VRTX to Outperform with a $438 price target, while BofA maintains a Buy rating with a $550 price target. The acquisition is seen as a strategic move to bolster Vertex's clinical pipelines.

Portfolio Pulse from Vandana Singh

April 11, 2024 | 6:47 pm

FEPI

NVDA

PSI

TSM

Micron Technology Inc (NASDAQ:MU) announced a temporary reduction in DRAM supply due to an April 3 earthquake in Taiwan, affecting up to a mid-single-digit percentage of its calendar quarter supply. Despite the disruption, Micron's long-term DRAM production capacity remains unaffected. The chips are crucial for Nvidia Corp's (NASDAQ:NVDA) H200 GPUs for AI applications, with Micron seeing a surge in demand, especially from the AI sector. Taiwan Semiconductor Manufacturing Co (NYSE:TSM) also faced temporary disruptions but expects a swift recovery. Micron's stock has surged over 96% in the last 12 months, with exposure available through REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI) and Invesco Semiconductors ETF (NYSE:PSI).

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 6:26 pm

MRVL

NVDA

SPRX

Nvidia has seen a significant rise, approximately 230%, driven by AI technology adoption, outpacing the S&P 500 and other semiconductor companies like Marvell Technology, which rose about 73%. Marvell, specializing in DSP and ASICs, is positioning itself in the AI market through partnerships and new technologies. The AI and semiconductor industries' growth also highlights the potential of AI-exposed ETFs like Spear Alpha ETF, which has seen a 61% increase.

Portfolio Pulse from Johnny Rice

April 11, 2024 | 6:24 pm

WBA

Financial analysis reveals a bearish trend in options trading for Walgreens Boots Alliance (NASDAQ:WBA), with 57% of trades showing bearish sentiment. The analysis of 14 unusual trades indicates a targeted price range of $15.0 to $50.0. The largest trades include both puts and calls, with a notable bearish sentiment in put options. Walgreens Boots Alliance, a major retail pharmacy chain in the U.S., is currently trading at $18.08, with potential signs of being oversold. The company's earnings release is anticipated in 75 days.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:17 pm

TONUSD

Toncoin (CRYPTO: TON), a Layer-1 blockchain, has entered the top 10 most valuable cryptocurrencies by market cap, recently hitting a new all-time high of $7.63. This surge is attributed to AI collaborations and innovations, including a palm-scanning project with Human Code, and the introduction of tap-to-earn meme coins. Additionally, TON announced a $5 million incentive for AI developers and a $2.19 million airdrop for memecoin traders, leveraging its integration with Telegram's user base.

Portfolio Pulse from Murtuza Merchant

April 11, 2024 | 6:16 pm

AAPL

VGT

XLK

BofA analyst Wamsi Mohan maintains a Buy rating on Apple Inc (AAPL) with a price target of $225, highlighting the company's underestimated long-term gross margin potential. Apple's gross margins exceeded expectations at 44%, driven by a premium product mix, in-house technologies, and a focus on service revenue monetization. Mohan projects fiscal 2024 sales and EPS of $396.24 billion and $6.70, respectively. Apple's stock performance and exposure through ETFs like Vanguard Information Tech ETF (VGT) and SPDR Select Sector Fund – Technology (XLK) are also noted.

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 6:14 pm

FTEC

MSFT

XLK

Morgan Stanley analyst Keith Weiss maintained Microsoft Corp (NASDAQ:MSFT) with an Overweight rating and raised the price target from $465 to $520, citing AI innovations and projected leadership in Public Cloud by 2032. Weiss expects a 14% revenue CAGR and 16% EPS CAGR through fiscal 2029 for Microsoft. Citi analyst Tyler Radke also provided positive feedback from Microsoft's Fabric Community Conference, highlighting rapid innovation and leadership in GenAI. Microsoft stock has gained over 50% in the last 12 months, with exposure available through SPDR Select Sector Fund – Technology (NYSE:XLK) and Fidelity MSCI Information Technology Index ETF (NYSE:FTEC).

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 6:13 pm

BMRA

Biomerica, Inc. has been granted European Patent Number EP3497447, titled "COMPOSITIONS, DEVICES, AND METHODS OF DEPRESSION SENSITIVITY TESTING." This patent covers innovative approaches in the field of depression sensitivity testing, potentially opening new avenues for the diagnosis and management of depression.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 6:05 pm

DoubleVerify Holdings, Inc. (NYSE:DV) shares dropped after announcing 16 new brand safety and suitability categories for TikTok advertisers. These categories aim to align brand promotion with suitable platform content, offering improved measurement insights and protection. The expansion is part of DV's ongoing partnership with TikTok, enhancing advertisers' ability to navigate digital advertising effectively. Despite the positive development, DV shares fell by 1.11% to $32.92.

Portfolio Pulse from Nabaparna Bhattacharya

April 11, 2024 | 6:00 pm