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The Market Clubhouse Morning Memo for March 21st, 2024, provides trade strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula considering price, volume, and options flow. It offers detailed analysis for each asset, suggesting potential breakouts or reversals. The memo also discusses the Federal Reserve's decision to keep interest rates steady, with Chair Jerome Powell's dovish comments indicating the current rate might be at its peak, potentially affecting market movements.

Portfolio Pulse from RIPS

March 21, 2024 | 2:26 pm

AXTI

ENTG

MKSI

MPWR

QRVO

RMBS

SGH

UCTT

Shares of semiconductor and chip stocks are experiencing an uptick following Micron's announcement of better-than-expected Q2 financial results and a positive outlook for Q3. This has created a ripple effect, positively impacting related stocks in the sector.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 2:24 pm

SCCO

JP Morgan analyst Rodolfo Angele has maintained an Underweight rating on Southern Copper (NYSE:SCCO) and reduced the price target from $63.5 to $61.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 2:19 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN), linked to Donald Trump's re-election campaign, shows a potential turnaround with a 152% YTD increase despite a 72% drop over the past year. The company, known for its mobile software platform, recently underwent a 1-for-50 reverse stock split and reported mixed Q4 financial results. A golden cross on the charts suggests a bullish trend, although technical indicators present a mixed outlook. Phunware's future growth is anticipated based on strategic initiatives and leveraging its platform across various verticals.

Portfolio Pulse from Surbhi Jain

March 21, 2024 | 2:19 pm

NEM

Newmont (NYSE:NEM) has seen a surge in options activity, with 80% of trades showing bearish sentiment despite the stock's recent 1.92% increase to $34.96. Analysis of unusual trades reveals a price target range of $30.0 to $40.0. The company, the world's largest gold miner, recently acquired Newcrest, planning to sell 20% of its higher cost mines. Analysts have set an average target price of $43.5, with Scotiabank maintaining a Sector Perform rating at $43.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 2:19 pm

SCHW

High-rolling investors have shown a bullish sentiment on Charles Schwab (NYSE:SCHW), with Benzinga's options scanner revealing significant options trading activity. The trading pattern is unusual, with a split sentiment among major traders: 50% bullish and 50% bearish. The focus is on a price band between $60.0 and $75.0. The largest options trades include both bullish and bearish positions, with a notable concentration on calls. Charles Schwab, a major player in brokerage and wealth management, has over $8 trillion in client assets. The stock price is currently up by 0.47%, reaching $70.0, with an RSI indicating potential overbought status. Analysts have set an average target price of $72.5 for SCHW.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 2:19 pm

AAPL

Apple shares are trading lower following reports that the Department of Justice (DOJ) is preparing to file an antitrust lawsuit against the company.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 2:17 pm

RMAX

RE/MAX Holdings shares are trading higher following the release of February's existing home sales data, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 2:17 pm

CWBHF

Charlotte's Web Holdings, Inc. reported a 16% decrease in Q4 consolidated net revenue to $15.9 million and a 75% improvement in net loss. The company attributes lower CBD product sales to regulatory ambiguities and market pressures. It has joined the ONE HEMP alliance to advocate for CBD regulation. The company is undergoing a turnaround initiative, 'True North', to drive sustainable growth. Shares traded 7.6923% lower at $0.18 per share.

Portfolio Pulse from Jelena Martinovic

March 21, 2024 | 2:17 pm

CBL

CBL Properties (NYSE:CBL) has announced partnerships with MINISO and other brands like Five Below, Aerie, and Garage to expand their U.S. presence in 13 CBL malls. The expansion includes new MINISO store openings across various states starting from November 2023, aiming to cater to a generation preferring mall shopping. This move is part of CBL's strategy to enhance its mall properties by adding a mix of retailers, restaurants, and entertainment options.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 2:17 pm