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DAL

Morgan Stanley analyst Ravi Shanker reiterated an Overweight rating on Delta Air Lines Inc (DAL) with a price target of $77. Delta reported a Q3 FY23 adjusted operating revenue growth of 13% Y/Y to $14.55 billion, beating the consensus estimate. The strength in premium continued as revenues came in +17% y/y. Management expects trends to be consistent with 3Q and said that initial bookings for the peak holiday periods are strong. The analyst believes 4Q guidance is likely more than good enough at $1.05 - $1.30.

Portfolio Pulse from Shivani Kumaresan

October 13, 2023 | 6:19 pm

EOG

A significant bullish stance has been taken on EOG Resources (NYSE:EOG) by a large investor or institution, as evidenced by unusual options trading activity. The sentiment among these big-money traders is split between 64% bullish and 35% bearish. The whales have been targeting a price range from $36.2 to $165.0 for EOG Resources over the last 3 months. Several financial institutions have maintained their positive ratings on EOG Resources, with price targets ranging from $132 to $165.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 6:17 pm

DXCM

A significant amount of unusual options activity has been detected for DexCom (NASDAQ:DXCM), with a majority of investors taking a bullish stance. The trades include 6 puts and 9 calls, with a total amount of over $2 million. The targeted price range for DexCom over the last 3 months is from $60.0 to $115.0. The current price of DXCM is up 0.28% at $75.7. Analysts from Raymond James, Stifel, and Morgan Stanley have maintained their ratings on DexCom, with price targets of $131, $145, and $98 respectively.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 6:17 pm

FANG

Unusual options activity has been observed for Diamondback Energy (NASDAQ:FANG), with a large bearish position being taken. The overall sentiment of these big-money traders is split between 45% bullish and 54% bearish. The price of FANG is up 2.96% at $167.16. Analysts from Morgan Stanley, UBS, Mizuho, and Raymond James maintain a Buy rating on FANG, while Benchmark downgraded its action to Buy.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 6:17 pm

ARM

Arm Holdings PLC - ADR (NASDAQ:ARM) shares are trading lower by 2.94% due to concerns about inflation, potential interest rate hikes, and possible U.S. restrictions on Chinese access to American AI chips. Higher interest rates can increase borrowing costs for companies, reducing their profitability, especially for capital-intensive industries like semiconductors.

Portfolio Pulse from Henry Khederian

October 13, 2023 | 6:17 pm

ATVI

MSFT

UBSFF

Microsoft Corp. (NASDAQ:MSFT) has completed its $69 billion acquisition of Activision Blizzard Inc (NASDAQ:ATVI), a move that is expected to reshape the gaming industry. The deal includes popular franchises like Call of Duty, World of Warcraft, and Overwatch. Activision's CEO, Bobby Kotick, confirmed his exit after the deal. The UK's Competition and Markets Authority approved the deal after it was restructured to sell Activision's streaming rights to Ubisoft Entertainment SA (OTC:UBSFF). However, the Federal Trade Commission (FTC) case against the merger is still pending.

Portfolio Pulse from Franca Quarneti

October 13, 2023 | 6:16 pm

AMAT

Applied Materials, Inc. (NASDAQ:AMAT) shares are trading lower due to concerns about inflation, rate hikes, and potential restrictions on Chinese companies accessing American AI chips. These factors could lead to a broader sell-off in the stock market and disrupt the global semiconductor supply chain, negatively impacting Applied Materials' revenue and stock price.

Portfolio Pulse from Henry Khederian

October 13, 2023 | 6:16 pm

AMAT

LRCX

Needham analyst Charles Shi has projected a growth in the Wafer Fab Equipments (WFE) sector, expecting it to reach $100 billion by 2025. Shi has upgraded Applied Materials, Inc. (AMAT) and Lam Research Corporation (LRCX) to 'Buy' from 'Hold', with price targets of $180 and $800 respectively. He believes AMAT's balanced exposure between memory and non-memory WFE will lead to growth in 2025, and LRCX will restore its market share to 15%+ by 2025.

Portfolio Pulse from Nabaparna Bhattacharya

October 13, 2023 | 6:16 pm

INMD

Canaccord Genuity analyst Caitlin Cronin has downgraded InMode Ltd (NASDAQ:INMD) to Hold from Buy and lowered the price target to $22 from $55. This follows InMode's Q3 preliminary results and a lowered FY23 outlook. The company expects Q3 revenue of $122.8 million-$123.0 million and adjusted EPS of $0.59-$0.60. For FY23, INMD lowered revenue guidance to $500 million-$510 million from $530 million-$540 million. Cronin cites challenging economics and financing pressures as reasons for the downgrade.

Portfolio Pulse from Lekha Gupta

October 13, 2023 | 6:11 pm

RVMD

Revolution Medicines Inc (NASDAQ:RVMD) released preliminary data for its RMC-6236 and RMC-6291 cancer drugs from Phase 1/1b studies. The data, presented at the 2023 AACR-NCI-EORTC International Conference, showed promising results with acceptable safety profiles and evidence of clinical activity. Following the news, RVMD shares rose by 20.30%.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 6:09 pm