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The Market Clubhouse Morning Memo for May 2nd, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, and META, based on a proprietary formula considering price, volume, and options flow. It outlines potential price targets for bulls and bears, emphasizing the importance of monitoring these stocks for breakouts or reversals. The memo also highlights key economic data releases and auctions that could impact market liquidity and mentions Apple's earnings release as a significant event for market dynamics.

Portfolio Pulse from RIPS

May 02, 2024 | 2:20 pm

W

Wayfair Inc (NYSE:W) shares surged after reporting better-than-expected Q1 FY24 earnings, with a slight sales decline but significant improvements in operational losses and adjusted EBITDA. The company also saw an increase in active customers and maintained its average order value, with a notable portion of orders placed via mobile devices.

Portfolio Pulse from Shivani Kumaresan

May 02, 2024 | 2:19 pm

CSCO

Options market activity for Cisco Systems (NASDAQ:CSCO) shows a balanced sentiment among investors, with an equal split between bullish and bearish trades. The observed options trades suggest a price target range of $30.0 to $55.0 for CSCO. The volume and open interest in these options have been tracked, indicating significant engagement from investors. Cisco Systems, a leading provider in networking equipment and software, is currently trading at $46.75, with an upcoming earnings announcement in 13 days. The stock's RSI indicators suggest it may be approaching oversold territory.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 2:19 pm

AMD

Advanced Micro Devices (NASDAQ:AMD) has seen a notable bearish sentiment in its options trading, with 51% of trades showing bearish tendencies compared to 36% bullish. The trading activity suggests investors are targeting a price range of $138.0 to $250.0 for AMD over the next three months. Noteworthy options trades include both bullish and bearish sentiments, with significant trades made in calls and puts. AMD's stock is currently down by -1.48%, with a trading volume of 12,693,933 and an RSI indicating it may be approaching oversold territory. Analysts have set an average price target of $195.6, with varying ratings from Outperform to Buy.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 2:19 pm

ZD

Analyst ratings for Ziff Davis (NASDAQ:ZD) show varied sentiments, with recent evaluations ranging from bullish to bearish. Over the last quarter, 6 analysts have provided ratings, with a current average 12-month price target of $77.83, indicating a 6.25% increase from the previous target. The company's financial performance shows a -1.72% decline in revenue growth, a net margin of 16.27%, and an ROE of 3.43%, reflecting strong financial health despite a negative revenue trend.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 2:00 pm

JAZZ

In the past three months, 15 analysts have reviewed Jazz Pharmaceuticals (NASDAQ:JAZZ), showing a mix of bullish to bearish sentiments. The average 12-month price target is $195.73, up 1.35% from the previous $193.12. Analyst actions include maintaining, raising, and lowering ratings and price targets, reflecting responses to market dynamics and company performance. Jazz Pharmaceuticals, an Ireland-based biopharmaceutical company, focuses on sleeping disorders and oncology, with nine approved drugs. Financially, it has shown a revenue growth of 4.1% as of December 31, 2023, but lags in ROE and excels in net margin and ROA.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 2:00 pm

WELL

Over the past 15 years, Welltower (NYSE:WELL) has produced an average annual return of 17.07%, outperforming the market by 5.17% on an annualized basis. A $100 investment in WELL 15 years ago would be worth $1,073.55 today. Welltower currently has a market capitalization of $56.25 billion.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 2:00 pm

MAR

Over the past 20 years, Marriott Intl (NASDAQ:MAR) has outperformed the market with an annualized return of 12.22%, turning a $1000 investment into $10,199.58 today. The company's market capitalization stands at $67.03 billion.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 2:00 pm

AMZN

Amazon.com Inc. (NASDAQ:AMZN) is expected to significantly expand its advertising business, leveraging strategies similar to those used by Google and Meta, focusing on performance advertising on its homepage and Amazon Prime. This move is anticipated to create a highly profitable, large-scale business. Amazon's Q1 earnings report showed a 13% year-over-year increase in net sales to $143.3 billion, surpassing expectations. CEO Andy Jassy expressed optimism about the future growth of Amazon Web Services (AWS), noting its potential despite a large portion of global IT spend remaining on-premises. Amazon's stock closed at $175.0, down 3.29% from the previous close, but its Q1 GAAP EPS of $0.98 exceeded estimates.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 1:59 pm

NVO

Novo Nordisk's stock is trading lower after the company reported its first-quarter earnings.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:57 pm