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BTCUSD

Despite the arrest of FTX co-founder Sam Bankman-Fried and the collapse of his cryptocurrency exchange FTX, Bitcoin's price has rallied over 60%. The downfall of FTX was due to unsustainable layers of deception, including the disappearance of $1 billion in customer funds. Despite these setbacks, investor support for Bitcoin remains strong. Crypto services provider Matrixport estimates Bitcoin to peak at $37,000 by the end of the year.

Portfolio Pulse from Khyathi Dalal

October 04, 2023 | 7:37 pm

MPC

A whale investor has taken a bullish stance on Marathon Petroleum (NYSE:MPC), with 50% of investors opening trades with bullish expectations and 50% with bearish. The whale has been targeting a price range from $105.0 to $160.0 for Marathon Petroleum over the last 3 months. The price of MPC is down -1.74% at $144.71. Analysts from Raymond James, Wells Fargo, B of A Securities, and Mizuho have maintained their ratings on Marathon Petroleum, with price targets ranging from $157 to $178.

Portfolio Pulse from Benzinga Insights

October 04, 2023 | 7:32 pm

SPGI

S&P Global (NYSE:SPGI) has outperformed the market over the past 10 years by 8.73% on an annualized basis, producing an average annual return of 18.59%. If an investor had bought $1000 of SPGI stock 10 years ago, it would be worth $5,475.41 today.

Portfolio Pulse from Benzinga Insights

October 04, 2023 | 7:30 pm

CCL

Carnival Corporation's (NYSE:CCL) shares are trading higher, showing a slight rebound after a recent downtrend. The stock has been down 31.9% over the past three months due to the COVID wave causing volatility in the sector. The stock fell further after the company reported third-quarter financial results and issued guidance on Sept 29. Morgan Stanley analyst Jamie Rollo maintained Carnival with an Underweight and lowered the price target from $11.50 to $11. However, shares of Carnival recovered by almost 4% on Wednesday.

Portfolio Pulse from Ryan Gustafson

October 04, 2023 | 7:29 pm

DAL

BofA Securities analyst Andrew G. Didora reiterated a Buy rating on Delta Air Lines Inc (DAL) with a price target of $50. The analyst expects no surprises in the upcoming 3Q23 earnings report due to the company's mid-September update. However, he sees a decrease in 4Q23 EPS to $1.00 from $1.09 due to cost pressures. The analyst also forecasts a 9.3% revenue growth in 4Q23 and believes DAL could guide to revenue growth of 8-11%. The 2023E EPS has been revised to $5.85 from $5.88, below the company's guided range of $6 - $7.

Portfolio Pulse from Shivani Kumaresan

October 04, 2023 | 7:24 pm

DIS

NFLX

WBD

Netflix Inc (NASDAQ:NFLX) is planning to increase its prices in North America, a move that Benchmark analyst Matthew Harrigan believes is risky amid economic uncertainty. The price increase is expected to be effective in a few months, pending a resolution on the SAG strike and U.S. production restarts. Harrigan reiterated a Sell rating for Netflix with a $325 price target. Other streaming services like Warner Bros. Discovery, Inc (NASDAQ:WBD) and Walt Disney Co (NYSE: DIS) are also increasing their prices.

Portfolio Pulse from Anusuya Lahiri

October 04, 2023 | 7:23 pm

NVAX

The FDA has granted emergency use authorization to Novavax Inc's COVID-19 Vaccine, Adjuvanted (2023-2024 Formula) (NVX-CoV2601) for individuals aged 12 and older. The approval comes at a time when the demand for COVID-19 vaccines is increasing. Novavax has a contracted price of $72.5/dose with the CDC and a price of $130/dose subject to insurance/pharmacy-level rebates and discounts. Despite the positive news, NVAX shares are down 6%.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 7:19 pm

FNGR

FingerMotion, Inc. (NASDAQ:FNGR) shares are trading higher after the company responded to a short seller report by Capybara Research, which it described as containing errors and inaccuracies. The company's management and Board of Directors plan to continue reviewing the report and take necessary actions to protect shareholder interests. FingerMotion recently filed a Form S-3 registration statement for $300 million of securities, of which $25 million has been allocated to an at-the-market offering.

Portfolio Pulse from Ryan Gustafson

October 04, 2023 | 7:18 pm

BAC

Bank of America Corp (BAC) shares have been trading lower, adding to losses of over 6% in the last week. This is due to rising Treasury yields, which make equities less attractive and borrowing more expensive. Morgan Stanley has cut its price target on BAC from $34 to $32 due to concerns over high earnings expectations. BAC is set to report Q3 results on Oct. 17, with an expected earnings of 80 cents per share on a revenue of $25.21 billion.

Portfolio Pulse from Adam Eckert

October 04, 2023 | 7:16 pm

LMT

A significant amount of bearish options activity has been observed for Lockheed Martin (NYSE:LMT), with 68% of investors opening trades with bearish expectations. The majority of the trades are puts, totaling $1,296,222, compared to $224,828 in calls. Whales have been targeting a price range from $360.0 to $412.5 for Lockheed Martin over the last 3 months. Deutsche Bank has downgraded its action to Hold with a price target of $435, while Wells Fargo upgraded its action to Equal-Weight with a price target of $440.

Portfolio Pulse from Benzinga Insights

October 04, 2023 | 7:16 pm