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An Israeli air strike killed a top Iranian general, causing oil prices to rise and impacting stock market sentiment negatively due to inflation concerns. Tesla Inc and several healthcare companies including CVS Health Corp, Elevance Health Inc, UnitedHealth Group Inc, and Humana Inc are facing selling pressure due to disappointing news. Early trade shows negative money flows in major tech stocks and ETFs, while the momo crowd is buying stocks and gold. The United States Oil ETF is popular among oil buyers. Investors are advised to adjust their protection bands in light of these developments.

Portfolio Pulse from The Arora Report

April 02, 2024 | 2:57 pm

GRTS

Gritstone Bio Inc (NASDAQ:GRTS) released preliminary Phase 2 data for its cancer vaccine GRANITE, showing early benefit trends in metastatic colorectal cancer patients. The study highlighted a 100% vaccine manufacturing success rate and a favorable safety profile. Concurrently, Gritstone priced a $32.5 million public offering and announced a 40% workforce reduction due to a delay in the CORAL Phase 2b study and subsequent loss of anticipated funding. GRTS shares dropped 43% to $1.34.

Portfolio Pulse from Vandana Singh

April 02, 2024 | 2:56 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) reported increased vehicle production and deliveries for Q1 2024 compared to the previous year, meeting its expectations. The company reaffirmed its 2024 production guidance of 57,000 vehicles and introduced a new midsize platform for the R2 and R3 product lines, with R2 starting at $45,000. Despite these developments, RIVN shares dropped 3.83% to $10.66.

Portfolio Pulse from Nabaparna Bhattacharya

April 02, 2024 | 2:33 pm

DKNG

DraftKings (NASDAQ:DKNG) has seen significant options trading activity, with a bullish sentiment from investors. Analysis of 11 trades shows a preference for calls over puts, indicating expectations of a price increase. The targeted price range is $43.0 to $65.0. DraftKings operates in online sports and casino gambling, holding a strong market position. Recent trading volume was 1,919,618, with a slight price decrease of -2.25%, and an RSI suggesting a potential overbought status. Analysts have given an average target price of $55.2, with varying ratings from Positive to Market Outperform.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 2:31 pm

SOFI

Deep-pocketed investors have shown a bullish sentiment towards SoFi Techs (NASDAQ:SOFI), with a notable increase in options activity. Benzinga's tracking revealed 60% bullish and 40% bearish sentiment among these investors, targeting a price range of $3.5 to $7.5. The company, known for its financial services, has seen a recent price drop of -2.49%, with an RSI indicating a neutral position. Analysts have mixed views, with target prices ranging from $3 to $12.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 2:30 pm

TSLA

Tesla Inc (NASDAQ:TSLA) shares dropped after reporting a year-over-year decline in vehicle production and deliveries for Q1, marking the first such decline since 2020. The decrease was attributed to the early production ramp of the updated Model 3, factory shutdowns due to the Red Sea conflict, and an arson attack at Gigafactory Berlin. Despite these challenges, Tesla achieved its highest quarterly deployment of energy storage products. The company faces pressure from waning demand in the EV industry and a pricing war with competitors. Tesla is set to report Q1 financial results on April 23, with analysts expecting earnings of 60 cents per share on $24.067 billion in revenue.

Portfolio Pulse from Adam Eckert

April 02, 2024 | 2:28 pm

BYDDY

TSLA

XIACY

Xiaomi Corporation is entering the EV market, intensifying competition for Tesla Inc. Tesla raised Model Y prices in the US but cut Shanghai production due to competition and slow growth in China. Xiaomi's first EV, the SU7 sedan, received 120,000 pre-orders in 36 hours. Despite a slowdown in China's EV market growth, Xiaomi's entry with a sporty EV priced below Tesla's Model 3 could exacerbate Tesla's challenges. Tesla's vehicle deliveries in China dropped by 6% YoY in the first two months of 2024.

Portfolio Pulse from Upwallstreet

April 02, 2024 | 2:18 pm

MRNA

MYNZ

PFE

Pfizer (PFE) and Moderna (MRNA) experienced a 30% drop in share value post-pandemic but are refocusing on oncology to drive future growth. Pfizer's acquisition of Seagen and product launches aim to offset $17 billion in lost sales, projecting $129 billion in new revenue by decade's end. Moderna, with its sole product being the COVID-19 vaccine, plans to launch up to 15 new products, including a promising RSV vaccine and a melanoma mRNA vaccine developed with Merck. Mainz Biomed (MYNZ) is making strides in cancer prevention with its non-invasive ColoAlert® test and is developing PancAlert for early pancreatic cancer detection.

Portfolio Pulse from Upwallstreet

April 02, 2024 | 2:17 pm

ARM

Deep-pocketed investors show a divided sentiment towards ARM Holdings (NASDAQ:ARM), with 42% bullish and 57% bearish, based on extraordinary options activity. The options market suggests a price range of $100.0 to $145.0 for ARM. The company, a major player in smartphone CPU cores, is currently trading at $125.0, down by -1.51%. An analyst from Mizuho maintains a Buy rating with a target price of $160.0.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 2:01 pm

ASML

Five analysts have recently updated their ratings on ASML Holding (NASDAQ:ASML), showing a shift towards a more bullish outlook over the last three months. The average 12-month price target for ASML has been raised to $1030.0, marking a significant increase from the previous target of $881.00. This change reflects analysts' positive reactions to market conditions and ASML's performance, including a revenue growth rate of 12.55% and a strong net margin of 28.3%. ASML, a leader in photolithography systems for semiconductor manufacturing, continues to demonstrate financial health and market dominance.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 2:00 pm