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The Hong Kong real estate market is facing a potential bubble burst due to a sharp decline in property prices and a surge in mortgage applications. Major real estate developers like Country Garden Holdings Limited and China Evergrande Group have seen significant drops in their stock prices. Local banks like China Construction Bank Corporation and Bank of China Limited have also been affected. Despite government interventions and stimulus policies, the market remains unstable.

Portfolio Pulse from Daniel Harrison

October 06, 2023 | 3:52 pm

DIA

IWM

QQQ

SPY

Major stock indexes have rebounded after initially falling due to rising Treasury yields.

Portfolio Pulse from Bill Haddad

October 06, 2023 | 3:51 pm

CAT

A significant bearish stance has been taken on Caterpillar (NYSE:CAT) by a large investor or institution, as indicated by a large position showing up in publicly available options history. The overall sentiment of these big-money traders is split between 35% bullish and 64% bearish. The whales have been targeting a price range from $180.0 to $262.5 for Caterpillar over the last 3 months. The price of CAT is currently down -0.5% at $259.5.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 3:46 pm

BMY

A significant investor has taken a bearish stance on Bristol-Myers Squibb (NYSE:BMY), with 70% of recent trades being bearish. The price target for the company, based on volume and open interest, is between $52.5 and $62.5. The current price of BMY is $56.2, down 0.39%. Analysts from TD Cowen, Truist Securities, and Cantor Fitzgerald have given price targets of $66, $84, and $75 respectively.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 3:46 pm

ASML

A significant bullish stance has been taken on ASML Holding (NASDAQ:ASML) as evidenced by unusual options activity. Benzinga's options scanner spotted 24 uncommon options trades for ASML Holding, with 70% bullish and 29% bearish sentiment. Whales have been targeting a price range from $300.0 to $700.0 for ASML Holding over the last 3 months. The price of ASML is up 0.26% at $583.2.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 3:45 pm

BMWYY

VWAGY

BMW CFO, Walter Mertl, has expressed concern over the European Union's investigation into subsidies for EVs manufactured in China, warning that it could trigger retaliatory actions from Beijing. This could potentially affect BMW's sales in China and its exports to Europe. Despite this, Mertl remains optimistic about BMW's Q3 results and confirmed a surge in EV sales. However, he acknowledged ongoing supply chain issues.

Portfolio Pulse from Shivani Kumaresan

October 06, 2023 | 3:33 pm

DVN

A significant amount of unusual options activity has been detected for Devon Energy (NYSE:DVN), with a mix of bullish and bearish stances. The trades indicate a targeted price range of $37.5 to $48.0 for Devon Energy over the next three months. The company's stock is currently up 0.4% at $43.02. Citigroup, Mizuho, and Morgan Stanley have all maintained their positive ratings on Devon Energy, with price targets of $55, $62, and $51 respectively.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 3:31 pm

A significant amount of bearish options activity has been observed for Toyota Motor (NYSE:TM), with 80% of the investors taking a bearish stance. The total amount for puts is $3,873,479 and for calls is $253,118. Whales have been targeting a price range from $150.0 to $180.0 for Toyota Motor over the last 3 months. The current price of TM is down -0.6% at $172.0.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 3:31 pm

MELI

A large investor has taken a bearish stance on MercadoLibre (NASDAQ:MELI), with 13 uncommon options trades spotted. The sentiment among these big-money traders is split between 38% bullish and 61% bearish. Whales have been targeting a price range from $720.0 to $1520.0 for MercadoLibre over the last 3 months. Susquehanna has maintained their Positive rating on MercadoLibre, with a price target of $1625.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 3:30 pm

FWONA

Citigroup analyst Jason Bazinet has upgraded Liberty Formula One Group (NASDAQ:FWONA) from Neutral to Buy, while maintaining the price target at $71.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 3:30 pm