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FCX

A significant bearish stance has been taken on Freeport-McMoRan (NYSE:FCX) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is 28% bullish and 71% bearish. The whales have been targeting a price range from $30.0 to $40.0 for FCX over the last 3 months. The current price of FCX is down -1.13% at $33.66. Morgan Stanley, BMO Capital, and JP Morgan have maintained their ratings on FCX with price targets of $41, $45, and $42 respectively.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 6:31 pm

HD

A 'whale' investor has taken a bullish stance on Home Depot (NYSE:HD), with 50% of investors opening trades with bullish expectations and 50% with bearish. The total amount for puts is $347,555 and for calls is $159,223. Whales have been targeting a price range from $265.0 to $340.0 for Home Depot over the last 3 months. Telsey Advisory Group and Truist Securities have maintained their Market Perform and Buy ratings on Home Depot, with price targets of $330 and $341 respectively.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 6:31 pm

PLNT

Stifel analyst Chris O'Cull reiterated a Buy rating on Planet Fitness Inc (PLNT) with a price target of $65.00. The company is expected to report its Q3 FY23 earnings on November 7, 2023. The analyst noted that Planet Fitness' domestic system added 23-28 net units during Q3, falling short of the +33 unit Street mean. This could lead to the company lowering its unit growth outlook again. Despite these challenges, the analyst remains positive on the shares due to several opportunities to improve new unit returns for franchisees.

Portfolio Pulse from Shivani Kumaresan

October 31, 2023 | 6:31 pm

SYK

Stryker (NYSE:SYK) has outperformed the market over the past 20 years, producing an average annual return of 9.91%. If an investor had bought $1000 of SYK stock 20 years ago, it would be worth $6,553.48 today.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 6:30 pm

ADM

Archer-Daniels Midland (NYSE:ADM) has outperformed the market over the past 20 years by 1.28% on an annualized basis, producing an average annual return of 8.39%. If an investor had bought $100 of ADM stock 20 years ago, it would be worth $498.61 today.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 6:30 pm

CHWY

Morgan Stanley analyst Lauren Schenk has upgraded Chewy Inc (NYSE:CHWY) to Overweight from Equal-Weight, despite lowering the price target from $31 to $28. Schenk notes that CHWY's decline of over 50% since mid-July due to customer growth concerns is overdone. She sees CHWY still gaining market share and expects better-than-expected revenue growth and ongoing margin expansion. She also forecasts CHWY’s EBITDA margin of 5% and 10% in FY25 and FY30, respectively.

Portfolio Pulse from Lekha Gupta

October 31, 2023 | 6:25 pm

XFOR

X4 Pharmaceuticals announced that the FDA has accepted with Priority Review its U.S. New Drug Application (NDA) for Mavorixafor in WHIM syndrome. This news has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:23 pm

ANET

Arista Networks (NYSE:ANET) reported better-than-expected Q3 results and issued strong Q4 revenue guidance. Revenue grew 28.3% Y/Y to $1.509 billion, beating the consensus of $1.480 billion. Adjusted EPS of $1.83 surpassed the consensus of $1.58. For Q4, Arista expects revenues of $1.500 billion-$1.550 billion vs. consensus of $1.47 billion. Following the earnings announcement, several analysts raised their price targets on Arista Networks.

Portfolio Pulse from Lisa Levin

October 31, 2023 | 6:22 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) shares are trading higher by more than 9% on Tuesday, despite a lack of company-specific news. The stock is attempting to recover after falling 8% in the last five days and more than 25% over the last month. The company is set to release its Q2 financial results on Nov. 9, with an expected loss of 15 cents per share and estimated quarterly revenue of $92.3 million. On Oct. 11, the company announced that it received EU GMP certification for its cannabis cultivation facility in Ontario.

Portfolio Pulse from Erica Kollmann

October 31, 2023 | 6:22 pm

ABEV

Ambev's shares are trading higher following the release of its Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:16 pm