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SAVE

Spirit Airlines, Inc. (NYSE:SAVE) stock rose over 5% on Thursday, breaking its recent downtrend caused by ongoing pressure on airlines. The company had lowered its Q3 revenue guidance last week due to rising fuel costs. However, the stock's rise was backed by above-average trading volume.

Portfolio Pulse from Ryan Gustafson

September 21, 2023 | 8:11 pm

CBAY

ICPT

IVA

MDGL

CymaBay Therapeutics has initiated the AFFIRM Phase 3b/4 confirmatory study to evaluate the effect of seladelpar on clinical outcomes in patients with compensated cirrhosis due to primary biliary cholangitis (PBC). The study's commencement alleviates a regulatory concern that has loomed over the industry. The decision by Intercept Pharmaceuticals to halt a similar study had raised concerns among investors. Companies like Madrigal Pharmaceuticals and Inventiva S.A. also utilize outcome studies involving cirrhotic patients.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 8:06 pm

SCHL

Scholastic (NASDAQ:SCHL) reported Q1 losses of $(2.35) per share, missing the analyst consensus estimate of $(1.20) by 95.83%. This is a 76.69% decrease from the same period last year. The company also reported quarterly sales of $228.50 million, missing the analyst consensus estimate of $268.79 million by 14.99%. This is a 13.08% decrease from the same period last year.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 8:03 pm

WDAY

Workday (NASDAQ:WDAY) has seen unusual options activity, with a majority of investors taking a bearish stance. Of the 11 strange trades detected, 72% were bearish and 27% bullish. The total amount for puts was $1,012,310 and for calls, $290,620. Whales have been targeting a price range from $175.0 to $270.0 for Workday over the last 3 months. The current price of WDAY is down -3.07% at $230.51. Analysts from DA Davidson, Loop Capital, Citigroup, Guggenheim, and Needham have maintained their ratings on Workday.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 8:03 pm

EOG

A whale investor has taken a bullish stance on EOG Resources (NYSE:EOG), with 50% of investors opening trades with bullish expectations and 50% with bearish. The whale has been targeting a price range from $55.0 to $134.2 for EOG Resources over the last 3 months. The price of EOG is currently down -2.39% at $122.5. Citigroup, Wells Fargo, Jefferies, and Mizuho have all maintained their Buy or Overweight ratings on EOG Resources, with price targets ranging from $144 to $157.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 8:02 pm

ACAB

Biotechnology company Abpro is set to become publicly traded through a merger with Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB). The deal values Abpro at $725 million and will help advance its drug pipeline to clinical trials. Abpro is currently developing next-generation antibody therapies for various diseases, including HER2+ cancer treatments and treatments for Wet AMD/DME and COVID-19.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:00 pm

SPY

The market-on-close imbalance is leaning towards the sell-side with $4.5 billion. This could potentially impact the SPY ETF.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 7:54 pm

AMC

AMC Entertainment Holdings Inc's shares are trading lower by 5.2% due to concerns about future rate hikes and lower-than-expected initial jobless claims data. AMC's significant operating costs and substantial debt load make it sensitive to changes in interest rates, potentially affecting its profitability and financial health.

Portfolio Pulse from Henry Khederian

September 21, 2023 | 7:46 pm

RACE

A significant bearish stance has been taken on Ferrari (NYSE:RACE) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 45% bullish and 54% bearish. The targeted price range for Ferrari over the last 3 months has been $260.0 to $320.0. The current price of RACE is down -3.35% at $292.77. UBS maintains a Buy rating on Ferrari with a price target of $375, while Jefferies maintains a Hold rating with a price target of $300.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 7:46 pm

DG

A significant bearish stance has been taken on Dollar Gen (NYSE:DG) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 44% bullish and 55% bearish. Out of the special options uncovered, 14 are puts, for a total amount of $834,231, and 4 are calls, for a total amount of $129,950. The price of DG is down -4.83% at $110.07.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 7:46 pm