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CGC

Canopy Growth Corporation (NASDAQ:CGC) has exercised options to acquire cannabis brands Wana and Jetty, aiming to strengthen its position in the U.S. market. The acquisitions, contingent on regulatory approvals, will see Canopy USA owning Wana fully and holding a 75% stake in Jetty. These moves are expected to drive revenue growth and achieve cost synergies, especially as the DEA considers reclassifying cannabis, potentially easing business operations. CGC's stock was slightly up following the announcement.

Portfolio Pulse from Patricio Liddle

May 07, 2024 | 2:20 pm

HNRA

HNR Acquisition Corp has announced compliance with NYSE American Company Guide requirements after filing its annual report on Form 10-K on May 3, 2024, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 2:20 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for May 7th, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula. It outlines potential bullish and bearish price levels for these assets, influenced by price, volume, and options flow. The memo also highlights the day's economic events and an Apple event that could impact market sentiment and stock prices.

Portfolio Pulse from RIPS

May 07, 2024 | 2:17 pm

SNOW

Recent unusual options activity in Snowflake (NYSE:SNOW) indicates a split sentiment among big-money traders, with 50% bullish and 50% bearish. A total of 8 options trades were spotted, including 1 put and 7 calls, targeting a price range from $130.0 to $340.0. The largest trades include bullish calls with strike prices at $130 and $340, and a bearish put at $155. Snowflake, a data warehousing company, has seen its stock price drop by -3.1% to $158.6, with an RSI indicating it may be approaching overbought. Analysts have a mixed outlook, with an average target price of $185 and a recent downgrade by Keybanc to Overweight.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 2:16 pm

NOW

ServiceNow (NYSE:NOW) has seen significant options activity, indicating bullish sentiment among financial giants. Analysis of 22 unusual trades shows a mix of bullish (50%) and bearish (40%) positions, with a notable volume in calls over puts. The targeted price range for NOW is between $600.0 and $750.0. The largest trades include both bearish and neutral calls, and a bullish put, with strike prices ranging from $600 to $720. ServiceNow's current stock price is $707.46, down 2.63%, with analysts maintaining a positive outlook, proposing an average target price of $882.0.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 2:15 pm

MYSZ

My Size, Inc. has regained compliance with Nasdaq's listing requirements, ensuring its continued listing on the exchange. This development is crucial for maintaining investor confidence and access to capital markets.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 2:10 pm

TPX

Tempur Sealy International Inc (NYSE:TPX) reported a 1.5% decline in Q1 FY24 sales to $1.189 billion, missing analyst estimates. Despite a decrease in sales, the company saw an expansion in gross margin to 43.1% and a 2.5% increase in gross profit. Adjusted EPS was $0.50, beating estimates. A quarterly dividend of $0.13 per share was declared. The company maintains its FY24 adjusted EPS outlook of $2.60 - $2.90. TPX shares rose 6.8% to $53.54.

Portfolio Pulse from Shivani Kumaresan

May 07, 2024 | 2:08 pm

TSLA

Tesla Inc. Chairwoman Robyn Denholm has sold over $50 million in Tesla stock in 2024, as revealed by SEC filings. The sales were part of a pre-arranged 10b5-1 program established in October. This comes amid Tesla's challenges, including falling shares, increased competition, and weakened demand for its EVs. Additionally, Tesla faces internal changes and legal challenges regarding executive compensation, with efforts to reapprove CEO Elon Musk's previously overturned $47 billion pay package.

Portfolio Pulse from Pooja Rajkumari

May 07, 2024 | 2:03 pm

FCX

Over the past 5 years, Freeport-McMoRan (NYSE:FCX) has outperformed the market with an annualized return of 23.81%, resulting in an average annual return of 36.81%. A $1000 investment in FCX 5 years ago would be worth $4,515.39 today. The company's market capitalization currently stands at $73.93 billion.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 2:02 pm

AMT

Over the past 20 years, American Tower (NYSE:AMT) has produced an average annual return of 14.04%, turning a $1000 investment into $13,575.09 today. With a current market capitalization of $83.90 billion, AMT's performance highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 2:02 pm