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Stock Prices

Recent options trading trends for Alcoa (NYSE:AA) show a bullish sentiment among investors, with 69% of trades being bullish. The trading volume and open interest suggest a price target range of $25.0 to $35.0 for Alcoa. The company, a major player in the aluminum industry, is currently trading at $30.35, down by -2.19%. Analysts, including one from B of A Securities, have set an average price target of $32.0, maintaining a Neutral rating.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 5:30 pm

ARBE

Arbe Robotics' stock price increased following a post on X about its participation in the NVIDIA sensor ecosystem.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 5:29 pm

AAPL

GOOG

META

SOCL

SPMO

Meta Platforms Inc (NASDAQ:META) has reduced the subscription fee for ad-free Facebook and Instagram in Europe to 5.99 euros, down from 9.99 euros, in response to EU privacy laws and the Digital Markets Act (DMA). This move aims to address concerns from privacy activists and antitrust regulators. The company is adapting to the DMA, which restricts personalized ads without user consent. Meta's pricing strategy seeks a balance between EU regulations and providing value. The EU has also targeted other Big Tech companies, including Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) and Apple Inc (NASDAQ:AAPL), for their market practices. META stock is down 0.74% at $493.42. Investors can also gain exposure to META through Global X Social Media ETF (NASDAQ:SOCL) and Invesco S&P 500 Momentum ETF (NYSE:SPMO).

Portfolio Pulse from Anusuya Lahiri

March 19, 2024 | 5:27 pm

RACE

Ferrari N.V. (NYSE:RACE) is facing a lawsuit in the U.S. over allegations of failing to address brake defects in its cars, despite previous recalls in 2021 and 2022 for leaking brake fluid. The lawsuit, filed in San Diego federal court, claims that Ferrari continued to sell cars with these defects, posing safety risks. Ferrari has emphasized its commitment to driver safety but has not directly addressed the lawsuit. RACE shares rose by 1.03% to $430.91.

Portfolio Pulse from Shivani Kumaresan

March 19, 2024 | 5:25 pm

BABA

EBIZ

INTC

ONLN

Alibaba Group Holding Limited (NYSE:BABA) is set to unveil the C930, the latest RISC-V processor from its Damo Academy, as part of its strategy to navigate U.S. trade restrictions. The announcement was made at the XuanTie Partner Conference, highlighting the processor's applications in 5G, robotics, and financial services. Additionally, Alibaba introduced an open-source laptop, Ruyi Book, showcasing its commitment to RISC-V technology. The move reflects a broader shift towards RISC-V architecture as an alternative to traditional chip technologies, with Alibaba forming the "Wujian Alliance" to promote RISC-V commercialization. BABA stock has seen a 10% decline last year but traded higher by 0.16% recently.

Portfolio Pulse from Anusuya Lahiri

March 19, 2024 | 5:21 pm

AMD

NVDA

Goldman Sachs has raised its price target for Nvidia (NVDA) to $1,000, citing the company's innovative next-generation Data Center GPU platform, Blackwell, and its potential to significantly accelerate AI training and inference capabilities. The bank's optimism is further supported by Nvidia's expanding partnerships and its role in the generative AI infrastructure build-out. Additionally, the developments are seen as positive for Micron Technologies (MU) due to expected increases in memory density, while posing challenges for Advanced Micro Devices (AMD) to keep pace with Nvidia's innovation.

Portfolio Pulse from Piero Cingari

March 19, 2024 | 5:17 pm

WFC

Recent analysis of Wells Fargo (NYSE:WFC) options trading reveals a bullish sentiment among 'whale' investors, with a significant portion of trades expecting price movements between $35.0 and $62.5. The analysis, which included 11 trades, showed a majority of bullish trades (63%) compared to bearish ones (36%). Notably, the trading volume and open interest in WFC options have been concentrated within this price range over the last three months. Currently, WFC's stock is slightly down by -0.39%, trading at $57.55, with an anticipated earnings release in 24 days.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 5:16 pm

BMY

Deep-pocketed investors have shown a bearish sentiment towards Bristol-Myers Squibb (BMY), with a notable shift in options activity. Benzinga's tracking revealed 13 extraordinary options activities, with a bearish majority of 69% among investors. The options target a price range of $43.0 to $57.5 for BMY over the last 3 months. The company, a leader in immuno-oncology, shows a significant U.S. market dependence, with its stock price slightly up by 0.34% at $51.77.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 5:15 pm

AMD

CAR

DIA

JWN

QQQ

SPY

TME

XLC

XLE

Wall Street had a mixed performance with the S&P 500 up 0.4%, tech stocks slightly down, and energy stocks rallying. The U.S. dollar strengthened, and Bitcoin plummeted below $65,000. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust showed varied movements. Energy Select Sector SPDR Fund was the top performer, while Communication Services Sector SPDR Fund lagged. Stocks like AMD, TME, JWN, IP, and CAR had notable movements due to various factors.

Portfolio Pulse from Piero Cingari

March 19, 2024 | 5:15 pm

ERJ

Embraer's stock is trading higher following the announcement of its Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 5:14 pm