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GFS

GlobalFoundries shares are trading lower following a downgrade by JP Morgan from Overweight to Neutral.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:49 pm

ELAN

MRK

Merck & Co Inc's division, Merck Animal Health, is set to acquire Elanco Animal Health Incorporated's aqua business for $1.3 billion in cash. This acquisition includes a portfolio of aquatic species products, two manufacturing facilities in Canada and Vietnam, and a research facility in Chile, aiming for completion by mid-2024. Elanco plans to use the proceeds to reduce its Term Loan B debt, expecting a net debt to adjusted EBITDA in the high-3x to low-4x range by end of 2025. ELAN shares rose 6.28% to $15.65.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 3:49 pm

ADVM

Adverum Biotechnologies shares surged following the announcement of securing $127.5 million through private placement financing.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:48 pm

BOWL

Bowlero's stock is trading higher following the announcement of better-than-expected Q2 revenue results and the reiteration of its FY24 revenue guidance. Additionally, the company has initiated a quarterly dividend of $0.055.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:47 pm

BIDU

Recent analysis of options activity for Baidu (NASDAQ:BIDU) reveals a bearish sentiment among investors, with 75% of trades being puts. The volume and open interest data suggest a price target range of $95.0 to $120.0 for Baidu. The company, a leader in China's internet search market, is also focusing on AI, video streaming, voice recognition, and autonomous driving. Baidu's stock is currently down by -0.31%, trading at $102.47, with an earnings announcement expected in 16 days.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 3:46 pm

UBER

Recent options trading activity indicates a bearish sentiment towards Uber Technologies (NYSE:UBER), with 66% of trades being bearish. The trading volume and open interest analysis suggest a targeted price range of $40.0 to $80.0 for UBER over the last 3 months. The company, a major player in ridesharing and food delivery, operates in over 63 countries. Despite the bearish options sentiment, UBER's stock is slightly up by 0.31%, trading at $68.28. Analysts have set an average price target of $73.0, with ratings ranging from Outperform to Buy.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 3:46 pm

ASML

Financial analysts have observed a bullish trend in options trading for ASML Holding (NASDAQ:ASML), with a significant number of trades indicating a positive outlook. The analysis of 24 unusual trades showed a majority bullish sentiment, with 15 calls valued at $975,946 outperforming 9 puts worth $670,685. The price target for ASML is set between $580.0 and $1250.0, based on trading volumes and open interest. Notable options activity includes both bullish and bearish sentiments with varying strike prices and expiration dates. ASML, a leader in photolithography systems for semiconductor manufacturing, is currently trading at $884.0, down by -0.75%, with an RSI suggesting potential overbought conditions. Analysts from Susquehanna and Raymond James have issued positive ratings, with target prices ranging from $850 to $1100. The company's anticipated earnings release is in 72 days.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 3:45 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for February 5th, 2024, provides a trade strategy for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula considering price, volume, and options flow. It offers detailed analysis for each asset, suggesting potential breakouts or reversals. The memo also highlights the importance of upcoming data releases and the Market Clubhouse community's benefits, including live trading sessions and mentorship from a pro trader known as RIPS.

Portfolio Pulse from RIPS

February 05, 2024 | 3:45 pm

INBS

Intelligent Bio Solutions Inc (NASDAQ:INBS) shares dropped after announcing the exercise of Series E Warrants for $1.77 million in gross proceeds. The warrants, issued in a public offering in October 2023, have an exercise price of $2.9232 per share. The company plans to use the proceeds for working capital and general corporate purposes and will grant new warrants at $4.50 per share with a 5.5-year term. INBS shares were down 40% at $3.57 at the time of publication.

Portfolio Pulse from Adam Eckert

February 05, 2024 | 3:45 pm

AMZN

Amazon.com, Inc (NASDAQ:AMZN) is involved in a significant real estate transaction with the sale of two office buildings in downtown Vancouver for C$300 million ($223 million) to Germany's Deka Group. The sale price, lower than the expected C$350 million, reflects the challenges in the office real estate market due to high-interest rates and the trend towards remote work. This transaction is seen as an indicator of the commercial real estate sector's direction amidst economic shifts. Amazon's recent activities, including selling unutilized office spaces and suspending new constructions, alongside layoffs, suggest a strategic adjustment to market conditions.

Portfolio Pulse from Anusuya Lahiri

February 05, 2024 | 3:44 pm