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ACRV

HUBC

LASE

MDIA

NEOG

VINC

WAVE

U.S. stocks traded higher with the Dow Jones gaining over 50 points. Neogen Corporation reported lower than expected Q3 earnings and reduced 2024 guidance. Laser Photonics, Acrivon Therapeutics, and MediaCo Holding saw significant stock increases, while Vincerx Pharma, Eco Wave Power Global, and HUB Cyber Security experienced notable declines.

Portfolio Pulse from Avi Kapoor

April 09, 2024 | 1:51 pm

GOOG

GOOGL

INTC

NVDA

Alphabet Inc's shares are trading higher after reports of developing its own in-house chips, named Axion, to reduce AI development costs. This move aims to lessen reliance on external vendors, positioning Alphabet in competition with Intel and Nvidia. Axion, based on Arm Holdings' circuitry, is designed for a variety of tasks including AI and data analysis, with expectations to enhance performance by up to 30% for cloud customers.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 1:48 pm

ROOT

Root Inc. saw significant trading activity in its May 17 $125 call options, with 109 contracts traded at $6.9 each versus an open interest of 37 contracts. This activity comes ahead of Root's estimated earnings release on May 1, after the market closes. The reference stock price at the time of the option trade was $83.43.

Portfolio Pulse from Charles Gross

April 09, 2024 | 1:47 pm

ALCC

FANG

AltC Acquisition Corp (ALCC) shares surged after announcing a Letter Of Intent (LOI) with Diamondback Energy Inc (FANG) for a 20-year power purchase agreement through its merger partner Oklo. The agreement aims to supply emission-free electricity to Diamondback's operations in the Permian Basin using Oklo's Aurora powerhouses. Oklo and AltC Acquisition Corp have a definitive business combination agreement, with the combined company set to trade under the ticker 'OKLO'.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 1:47 pm

ASML

Options trading activity for ASML Holding (NASDAQ:ASML) indicates a bullish sentiment among investors, with 54% of trades being bullish and 45% bearish. The trading range for ASML's stock price is expected to be between $520.0 and $1040.0 over the next three months. The company, a leader in photolithography systems for semiconductor manufacturing, is currently trading at $993.34, up 1.08%, with an RSI suggesting it may be approaching overbought territory. An earnings release is anticipated in 8 days, and an analyst from Wells Fargo has set a target price of $1150.0, maintaining an Overweight rating.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 1:46 pm

PDD

Smart money investors have shown a bearish stance on PDD Holdings (NASDAQ:PDD), with options trading indicating a split sentiment but leaning towards bearish with 55% against 44% bullish. A total of 9 unusual options trades were spotted, with 7 puts and 2 calls, aiming for a price range of $110.0 to $135.0 over the next three months. The trading volume and RSI indicators suggest PDD may be approaching overbought territory. Analysts maintain a positive outlook, with an average price target of $181.2.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 1:45 pm

LLY

Eli Lilly and Co (NYSE:LLY) has seen a significant bearish stance from big-money investors, as revealed by options trading data. The sentiment is predominantly bearish with 87% against 12% bullish. Large trades have targeted a price range of $750.0 to $830.0 for LLY over the last 3 months. The trading volume and open interest trends in options indicate a keen interest in these price levels. Eli Lilly, a major drug firm, is approaching its earnings announcement with its stock price slightly up and potentially nearing overbought territory.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 1:45 pm

RKLB

Rocket Lab USA Inc (NASDAQ:RKLB) shares are trading higher after being awarded a $14.49 million launch contract by the U.S. Space Force for the Space Test Program-30 mission. The mission aims to deliver research experiments and technology demonstrations to orbit and is scheduled within 24 months. Wall Street analysts generally view RKLB as a Buy, despite a 27.55% fall in the past 3 months. The stock was up 2.37% at $3.86 at the time of publication.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 1:45 pm

META

Meta Platforms Inc (NASDAQ:META) has navigated through controversies, such as blocking a climate change report, to reach new heights with its stock hitting a record high of $530.70. The company's stock has risen 48% in 2024, with a focus on surpassing the $600 mark. Meta also plans to introduce a 'Made with AI' label for AI-generated content on its platforms, aiming to enhance transparency.

Portfolio Pulse from Zaheer Anwari

April 09, 2024 | 1:44 pm

VINC

Vincerx Pharma's shares were halted due to a circuit breaker triggered by a sharp decline, with the stock plummeting by 70.08%.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 1:38 pm