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Stock Prices

FYBR

Frontier Communications has an option alert for Jan 19 $17.5 calls sweep near the ask with 1926 @ $1.201 vs 2130 open interest. The company's earnings are expected on 11/1 before the market opens. The reference price is $14.73.

Portfolio Pulse from Charles Gross

September 27, 2023 | 1:49 pm

Micron Technology, Inc. (NASDAQ:MU) is set to report its fiscal fourth quarter results on Sept. 27, 2023. The options market is implying a 6% move by the end of the week, in line with historical averages. There was a buyer of 5,500 of the October 71-calls at an average price of $1.94 per contract, indicating that traders expect Micron's stock to surge following the earnings release. Analysts expect Micron to post a quarterly loss at $1.18 per share on revenue of $3.91 billion.

Portfolio Pulse from Priya Nigam

September 27, 2023 | 1:48 pm

SNX

TD Synnex Corp reported a 9.1% Y/Y decline in Q3 revenue to $13.96 billion, missing the consensus of $14.11 billion. However, its adjusted EPS of $2.78 surpassed the consensus of $2.48. Following the earnings announcement, Barclays, Goldman Sachs, and JP Morgan revised their price targets on TD Synnex. The company's shares fell 5.2% to close at $96.56 on Tuesday.

Portfolio Pulse from Lisa Levin

September 27, 2023 | 1:47 pm

AAPL

AMZN

BABA

JPM

LLY

MRNA

NVO

PAYX

PFE

QCOM

TGT

TRI

WBD

Alibaba's logistics arm Cainiao files for Hong Kong IPO, potentially boosting Alibaba's stock. Qualcomm's Snapdragon 8 Gen 3, manufactured under TSMC's process, is set to rival Apple's 3nm chip technology. The European Medicines Agency is investigating potential anesthesia complications linked to weight loss drugs like Wegovy by Novo Nordisk and others by Eli Lilly, AstraZeneca, and Sanofi. Target is closing nine stores due to rising retail crime. Paychex reports 7% sales growth in Q1 FY24. Hollywood writers secure credit in a new deal with studios like Warner Bros., Paramount Global, Netflix, and Walt Disney. JPMorgan settles Jeffrey Epstein lawsuit for $75M. Thomson Reuters faces Ross Intelligence in court over AI dispute. Pfizer's oral COVID-19 antiviral pill faces doubts over commercial approval. McKinsey settles opioid lawsuit for $230M. Eli Lilly wins patent infringement case against Teva. Apple defends its $19B Google search deal. Warner Music Group CEO shares vision on AI in music at Code Conference 2023. Amazon addresses return-to-office policy concerns. China's chip fund faces economic challenges. Moderna in talks for enhanced COVID-19 vaccine availability in Europe.

Portfolio Pulse from Vandana Singh

September 27, 2023 | 1:47 pm

DNA

PFE

Ginkgo Bioworks Holdings (DNA) announced a collaboration with Pfizer (PFE) for the discovery of RNA-based drug candidates. Pfizer will use Ginkgo's RNA technology for novel RNA molecule discovery and development. Ginkgo will receive an upfront payment and could receive up to $331 million in fees and milestone payments across three planned programs, along with potential royalties on future sales.

Portfolio Pulse from Adam Eckert

September 27, 2023 | 1:45 pm

BHVN

COST

KNW

MCLD

PIXY

SPRC

STSS

US stocks opened higher with the Nasdaq Composite gaining around 50 points. Costco Wholesale Corporation reported better-than-expected earnings and sales results for its fourth quarter. ShiftPixy, Inc., SciSparc Ltd., and Biohaven Ltd. saw significant stock price increases. mCloud Technologies Corp., Sharps Technology, Inc., and Know Labs, Inc. experienced stock price drops.

Portfolio Pulse from Lisa Levin

September 27, 2023 | 1:45 pm

KNW

Know Labs Inc (NASDAQ:KNW) shares dropped by 34% to $0.23 after the company announced a $7 million public offering of common stock. The offering is expected to close on September 29. The proceeds will be used for product development, clinical studies, general and administrative expenses, intellectual property, and working capital.

Portfolio Pulse from Henry Khederian

September 27, 2023 | 1:41 pm

PAYX

Paychex Inc reported Q1 FY24 sales growth of 7% YoY to $1.286 billion, slightly missing the analyst consensus estimate of $1.29 billion. Adjusted EPS of $1.14 beat the analyst consensus estimate of $1.12. The company revised its FY24 adjusted EPS growth outlook from 9%-10% to 9%-11%. PAYX shares are trading lower by 0.34% at $112.34.

Portfolio Pulse from Shivani Kumaresan

September 27, 2023 | 1:39 pm

UBS

The US Department of Justice (DOJ) is intensifying its investigation into UBS Group AG (NYSE:UBS) and Credit Suisse Group for alleged failures in compliance, which may have allowed Russian clients to evade sanctions. The investigation has transformed from a series of subpoenas to a full-fledged investigation, with a primary focus on Credit Suisse Group. UBS, which took over Credit Suisse in June, has been notified about the alleged involvement of its recently acquired subsidiary in sanctions violations.

Portfolio Pulse from Piero Cingari

September 27, 2023 | 1:37 pm

AMD

MSFT

NVDA

TSM

AMD's CEO Lisa Su has highlighted the company's focus on AI, comparing its impact to major technological shifts like the internet and mobile phones. She also discussed the prospects of PC gaming, console gaming, and cloud gaming. Su confirmed the possibility of making AMD chips available to Azure customers and acknowledged that chip supply and demand are in a good place. Reports suggest that supply chain dynamics are impacting TSMC, which may have to raise the price of its AI chips, affecting AMD and Nvidia.

Portfolio Pulse from Anusuya Lahiri

September 27, 2023 | 1:37 pm