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Piper Sandler analyst Rob Owens has upgraded Zscaler Inc (ZS) from Neutral to Overweight and raised the price target from $160 to $190. The analyst believes Zscaler is well-positioned to benefit from the transition to next-generation network security architectures, with opportunities for sustained growth from the core ZIA + ZPA proposition. The analyst also sees strong growth prospects and ramping margins for ZS in 4Q and the coming year.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 3:37 pm

Unusual options activity has been observed for Micron Technology (NASDAQ:MU), with a large position indicating a bullish stance. The options scanner at Benzinga spotted 23 uncommon trades, split between 56% bullish and 43% bearish. The trades included 9 puts amounting to $532,595 and 14 calls amounting to $807,778. The targeted price range for Micron Technology over the last 3 months is from $65.0 to $72.5. Analysts have mixed ratings on the company, with price targets ranging from $58 to $90.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:31 pm

LULU

Lululemon Athletica (NASDAQ:LULU) has outperformed the market over the past 15 years, producing an average annual return of 28.37%. If an investor had bought $100 of LULU stock 15 years ago, it would be worth $3,823.69 today.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:30 pm

MMC

Marsh & McLennan (NYSE:MMC) has outperformed the market over the past 10 years by 6.08% on an annualized basis, producing an average annual return of 16.04%. If an investor had bought $1000 of MMC stock 10 years ago, it would be worth $4,390.27 today.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:30 pm

NEM

A significant bearish stance has been taken on Newmont (NYSE:NEM) by a large investor, as indicated by a large position in the company's publicly available options history. The overall sentiment of these big-money traders is split between 46% bullish and 53% bearish. The whales have been targeting a price range from $30.0 to $50.0 for Newmont over the last 3 months. Raymond James maintains an Outperform rating on Newmont with a price target of $61, while RBC Capital downgraded its action to Sector Perform with a price target of $52.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:16 pm

WMT

Walmart Inc (NYSE:WMT) has seen a 183% increase in value since November 2015, outperforming the S&P 500 with a 12% increase for the year. The stock price faced resistance at the $100 and $150 levels but has shown resilience and strength. The closing price in September was $159.93, down by 1.58%.

Portfolio Pulse from Zaheer Anwari

October 02, 2023 | 3:13 pm

DIA

QQQ

SPY

US manufacturing activity rebounded unexpectedly in September, with the ISM Manufacturing PMI surging to 49, its highest level since November 2022. The New Orders Index, Production Index, and Employment Index all improved, while the Prices Index decreased, suggesting lower input costs for manufacturers. The S&P Global’s US Manufacturing PMI also showed signs of recovery. The news had mixed effects on the stock market, with SPDR S&P 500 ETF Trust (SPY) down 0.1%, Invesco QQQ Trust (QQQ) up 0.6%, and SPDR Dow Jones Industrial Average ETF (DIA) down 0.3%.

Portfolio Pulse from Piero Cingari

October 02, 2023 | 3:08 pm

AAPL

AMZN

BTCUSD

GLD

GOOG

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META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

October is historically the most volatile month for the stock market, and this year is expected to test the enthusiasm for AI stocks. The government shutdown has been averted until November 17, which initially led to aggressive buying by the momo crowd, but futures have since turned negative. The stock market is currently in the top support zone and is waiting for a trigger to move. The direction of the year-end chase will depend on upcoming earnings, momentum in AI stocks, new economic data, interest rates, and the November FOMC meeting. Money flows are positive in Apple, Amazon, Meta Platforms, Microsoft, and NVIDIA, but negative in Tesla and Alphabet. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. Bitcoin is surging due to a short squeeze.

Portfolio Pulse from The Arora Report

October 02, 2023 | 3:05 pm

AVGO

Broadcom (NASDAQ:AVGO) has seen unusual options activity, with a mix of bullish and bearish stances. Of the 14 strange trades detected, 50% were bullish and 50% bearish. The total amount for puts was $160,340 and for calls, $689,103. Whales have been targeting a price range from $730.0 to $1220.0 for Broadcom over the last 3 months. The current price of AVGO is $830.1. Analysts from Truist Securities and Baird have maintained their Buy and Outperform ratings respectively, with price targets of $995 and $1000.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:01 pm

SNOW

A significant number of investors have taken a bearish stance on Snowflake (NYSE:SNOW), with 63% of recent trades being bearish. The majority of these trades are puts, totaling $502,961, compared to $138,900 in calls. Whales have been targeting a price range from $145.0 to $180.0 for Snowflake over the last 3 months. The current price of SNOW is down -1.02% at $151.21. Needham, DA Davidson, and HSBC have all downgraded their action to Buy with price targets of $216, $200, and $201 respectively.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:01 pm