Streetbeat News

Stock Prices

CVX

Recent options trading trends for Chevron (NYSE:CVX) show a bearish sentiment among investors, with 66% of trades being bearish. The trading volume and open interest suggest a price target range of $140.0 to $185.0. Chevron's current market status indicates a slight decrease in stock price to $155.65, with neutral RSI indicators. Analysts from Piper Sandler and Mizuho have issued positive ratings with target prices of $180 and $200, respectively.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:45 pm

NFLX

The options market shows a bearish sentiment towards Netflix (NASDAQ:NFLX), with 63% of trades being bearish. Major market movers are targeting a price range between $5.0 and $1100.0 for Netflix. Significant options trades have been detected, including both bearish and bullish positions. Netflix's business model focuses on its streaming service, with a global subscriber base of almost 250 million. The stock is currently down -0.15% at $619.81, with analysts setting an average price target of $694.0.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:45 pm

SPY

Fed Chair Powell emphasized the commitment to the dual mandate of controlling inflation and maximizing employment. He stated that the Fed needs greater confidence that inflation is moving sustainably downward before considering rate cuts.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:38 pm

SPY

Federal Reserve Chairman Jerome Powell indicated that the current policy rate is likely at its peak and suggested the possibility of rate cuts later this year. However, he also mentioned the readiness to maintain higher rates for an extended period if necessary.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:37 pm

CIBR

CSCO

FDN

Cisco Systems Inc (CSCO) secured EU clearance for its Splunk acquisition, closing the deal ahead of schedule. Piper Sandler analyst James Fish maintained a Neutral rating on Cisco but raised the price target from $47 to $51, citing the deal's potential for significant revenue and free cash flow growth by fiscal 2026. Cisco financed the transaction by raising $13.5 billion of debt. Despite some concerns, the acquisition is seen as a positive move for Cisco's growth, especially in AI and cybersecurity, although challenges in networking and cloud exposure remain. CSCO shares saw a slight increase, and the stock can also be accessed through ETFs like CIBR and FDN.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 6:34 pm

XOM

Deep-pocketed investors show a divided sentiment towards Exxon Mobil (NYSE:XOM), with a notable lean towards bearishness in recent options activity. Benzinga's tracking revealed 17 extraordinary options activities, with a mix of bullish and bearish sentiments. The major market movers are targeting a price band between $92.5 and $125.0 for Exxon Mobil. The company's current market performance shows a slight decrease in stock price, with an anticipation of earnings release in 37 days. Analyst ratings from Mizuho and Piper Sandler offer a neutral to positive outlook with target prices of $125 and $130, respectively.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:31 pm

MRK

Merck & Co (NYSE:MRK) has seen unusual options activity indicating a bullish stance by large investors, with a mix of 55% bullish and 44% bearish sentiment among the trades. The options target a price range of $105.0 to $125.0. Recent analyst ratings have varied, with an average target price of $124.67, but with differing opinions from Cantor Fitzgerald and Societe Generale. The company's stock is currently down by -0.97%, trading at $121.01, with an earnings announcement expected in 36 days.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:31 pm

APO

PARA

Apollo Global Management has made an $11 billion offer for Paramount's Hollywood studio, according to a Wall Street Journal report. This move could potentially reshape the landscape of the entertainment industry by combining Apollo's financial resources with Paramount's storied film and television assets.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:27 pm

SBUX

Starbucks (NASDAQ:SBUX) has seen a mix of bullish and bearish sentiment in its options market, with a slight lean towards bearishness. Analysis of unusual trades shows 46% bullish and 53% bearish sentiment, with notable activity in calls and puts within a price window of $75.0 to $100.0. The market's attention is on options with strike prices at $95 and $90, showing varied sentiments. Starbucks's current stock price is $91.67, with analysts setting an average price target of $101.33. Ratings from TD Cowen, JP Morgan, and Citigroup reflect a range of market expectations.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:16 pm

GLD

SPY

UUP

The Federal Reserve maintained interest rates at 5.25%-5.5% during its March meeting, with projections indicating three rate cuts in 2024, fewer reductions in 2025 and 2026. Economic growth projections for 2024-2026 were revised upwards, while the unemployment rate for 2024 was slightly reduced. Following the announcement, the SPDR S&P 500 ETF Trust (SPY) rose 0.4%, the Invesco DB USD Index Bullish Fund ETF (UUP) fell 0.2%, and the SPDR Gold Trust (GLD) increased by 0.8%.

Portfolio Pulse from Piero Cingari

March 20, 2024 | 6:13 pm