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CMG

Big money investors have shown a bearish stance on Chipotle Mexican Grill (CMG), with unusual options activity indicating a split sentiment. Benzinga's options scanner revealed 13 uncommon trades, with a bearish majority. The trades suggest a price target range of $1100 to $3650 for CMG. The company, a leading fast-casual chain in the US, reported systemwide sales of $9.9 billion and nearly 3,440 stores by end of 2023. CMG's stock is currently trading at $3199.1, with professional analysts offering mixed ratings and target prices ranging from $2865 to $3400.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 3:45 pm

ZETA

Zeta Global Holdings Corp. (NYSE:ZETA) reported better-than-expected Q1 financial results, surpassing both earnings and revenue estimates, and raised its Q2 revenue guidance. Following the announcement, Zeta Global's shares surged 17.8% to $15.31. Analysts from Needham, B of A Securities, Oppenheimer, Canaccord Genuity, DA Davidson, and Barclays subsequently increased their price targets on ZETA, reflecting optimism about the company's growth prospects and competitive position in leveraging Gen AI for marketing technology.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 3:44 pm

MYE

Myers Industries shares are trading lower due to worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:43 pm

NVDA

PLTR

The article discusses a shift in investor sentiment towards artificial intelligence stocks, particularly highlighting Palantir Technologies Inc (PLTR) and NVIDIA Corp (NVDA). Despite PLTR reporting strong earnings with a 21% revenue increase, its stock faced a drop due to valuation concerns and a deceleration in commercial business growth. Similarly, NVDA experienced a decline in pre-market trading despite an upgrade by a major Wall Street bank, indicating a change in how smart money is engaging with AI stocks. Additionally, the article mentions money flows in other major stocks and sectors, including positive flows in AAPL and GOOG, neutral in AMZN, negative in META, MSFT, NVDA, and TSLA, and mixed in SPY and QQQ.

Portfolio Pulse from The Arora Report

May 07, 2024 | 3:43 pm

BLMN

Bloomin' Brands, Inc. (NASDAQ:BLMN) reported Q1 adjusted EPS of 70 cents, missing estimates by 4 cents, and sales of $1.195 billion, slightly below expectations. The company cited decreased restaurant-level operating margins, the 2023 Closure Initiative, and higher expenses as reasons for the shortfall. Additionally, it announced the exploration of strategic alternatives for its Brazil operations, including a potential sale, with BofA Securities as its financial advisor. Despite the miss, Bloomin' Brands reaffirmed its FY24 adjusted EPS outlook and expects flat to 1.5% US comparable restaurant sales growth in Q2. Shares fell 2.72% to $24.28.

Portfolio Pulse from Nabaparna Bhattacharya

May 07, 2024 | 3:41 pm

SNCY

Sun Country Airlines reported disappointing Q1 earnings and provided a weaker than expected Q2 guidance, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:36 pm

SPY

Minneapolis Fed President Kashkari stated that the most likely scenario is maintaining current interest rates for an extended period. Rate cuts could occur if disinflation resumes or if there's a significant weakening in the job market. However, rate hikes are not off the table if necessary, although not the most likely outcome.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:35 pm

NFE

Hunterbrook reported on X that New Fortress Energy's floating liquefaction unit in the Gulf of Mexico, Altamira, has not made a shipment, missing its April deadline for the first cargo, based on AIS data and satellite imagery.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:33 pm

SBUX

Over the past 20 years, Starbucks (NASDAQ:SBUX) has delivered an average annual return of 10.68%, turning a $1000 investment into $7,642.52 today. With a current market capitalization of $81.89 billion, SBUX has outperformed the market by 2.62% on an annualized basis.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 3:32 pm

STIM

Neuronetics shares dropped following the announcement of Q1 financial results and Q2 revenue guidance that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:31 pm