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DFS

Shares of Discover Financial Services (NYSE:DFS) sold off more than 15% due to ongoing discussions with regulators regarding credit card misclassifications. The company has set aside $365 million to compensate affected merchants. Despite the regulatory issues and share sell-off, Discover's high dividend payout makes it a candidate for investors seeking consistent dividend income. To earn $500 per month from Discover's dividends, an investment of about $260,869.57, or 2,546 shares, is needed.

Portfolio Pulse from AJ Fabino

July 20, 2023 | 7:59 pm

CVNA

Carvana (CVNA) has seen a sweep of 127 calls at $2.04 for July 28 with a strike price of $54, compared to an open interest of 375. The reference price is $46.725.

Portfolio Pulse from Charles Gross

July 20, 2023 | 7:59 pm

SHOP

Shopify Inc. (NYSE:SHOP) shares are trading lower along with other tech stocks due to the weakness observed in Netflix and Tesla following their quarterly reports. Shopify is set to report its Q2 financial results on Aug. 2, with estimated earnings of six cents per share and revenue of $1.62 billion. At the time of publication, shares of SHOP were down 4.52% at $65.15.

Portfolio Pulse from Ryan Gustafson

July 20, 2023 | 7:56 pm

SIRI

Sirius XM Holdings has seen a significant option alert for Friday $8 calls. A total of 708 options were bought at $0.52 each, with no open interest previously. The reference price was $7.7593.

Portfolio Pulse from Charles Gross

July 20, 2023 | 7:56 pm

CRWD

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) are trading lower along with other tech stocks due to the weakness observed in Netflix and Tesla following their respective quarterly reports. Netflix reported mixed results with soft third quarter sales guidance, while Tesla reported increased earnings and sales. CRWD shares were down 6.35% at $147.60 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 20, 2023 | 7:55 pm

APLD

Applied Digital Corporation's (NASDAQ:APLD) shares are declining along with other tech stocks due to the weakness observed in Netflix and Tesla following their respective quarterly reports. Netflix reported mixed results with soft third quarter sales guidance. Tesla reported increased earnings and sales. Applied Digital is set to report fourth quarter earnings in four days, with an expected loss of four cents per share and revenue estimated at $29.57 million. APLD shares were down 8.21% at $7.71 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 20, 2023 | 7:54 pm

SPY

The market on close imbalance is leaning towards the buy-side with $297M. This could potentially impact the SPY ETF.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 7:53 pm

ABT

A significant investor has taken a bearish stance on Abbott Laboratories (NYSE:ABT), with 54% of recent trades being bearish. The trades range from $90.0 to $130.0, with a total of 8 puts and 14 calls. The current price of ABT is up 4.41% at $112.01, and RSI indicators suggest the stock may be approaching overbought.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 7:46 pm

TFC

A significant amount of unusual options activity has been detected for Truist Financial Corporation (NYSE:TFC), with a notably bearish stance. Of the 16 strange trades detected, 37% were bullish and 62% were bearish. The trades included 4 puts amounting to $230,653 and 12 calls amounting to $400,055. The price target range for Truist Financial over the last 3 months has been $25.0 to $45.0. The stock price is currently down by 6.91% at $33.13. Analysts from Morgan Stanley, Citigroup, Raymond James, and Jefferies have provided varied ratings and price targets.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 7:46 pm

MRK

A large bearish position has been taken on Merck & Co (NYSE:MRK), with 12 uncommon options trades spotted. The sentiment of these big-money traders is split between 41% bullish and 58% bearish. Whales have been targeting a price range from $45.0 to $130.0 for Merck & Co over the last 3 months. Truist Securities maintains a Buy rating on Merck & Co with a price target of $116, while HSBC and Morgan Stanley have downgraded their actions with price targets of $123 and $109 respectively.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 7:46 pm