Streetbeat News

Stock Prices

MELI

Deep-pocketed investors have adopted a bearish approach towards MercadoLibre (NASDAQ:MELI), as revealed by Benzinga's options scanner. The scanner highlighted 18 extraordinary options activities, with 33% of the sentiment being bearish. The trading volumes and Open Interest suggest a price band between $1320.0 and $2200.0 for MercadoLibre. The stock is currently trading at $1892.72, down by -1.23%. Analysts have given it an average target price of $2251.25.

Portfolio Pulse from Benzinga Insights

August 14, 2024 | 6:00 pm

EATZ

PSL

USFD

US Foods Holding Corp. (NYSE: USFD) shares are trading higher after announcing a $211 million share repurchase from Sachem Head Capital Management LP. The repurchase is part of a $1 billion program authorized on June 1, 2024. The company also reported strong Q2 sales and maintained its FY24 guidance. Investors can gain exposure via AdvisorShares Restaurant ETF (NYSE: EATZ) and Invesco Dorsey Wright Consumer Staples Momentum ETF (NASDAQ: PSL).

Portfolio Pulse from Lekha Gupta

August 14, 2024 | 5:55 pm

ALBT

DGLY

EWCZ

OUST

PFGC

SERV

VRCA

U.S. stocks traded higher with the Dow Jones gaining over 200 points. Performance Food Group (PFGC) shares rose 8% after strong Q4 results. Avalon Globocare (ALBT), Digital Ally (DGLY), and Serve Robotics (SERV) saw significant gains, while Ouster (OUST), Verrica Pharmaceuticals (VRCA), and European Wax Center (EWCZ) experienced notable declines.

Portfolio Pulse from Avi Kapoor

August 14, 2024 | 5:53 pm

SPY

THD

The U.S. State Department has acknowledged the ruling by the Thai Constitutional Court to dismiss the Prime Minister of Thailand.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 5:52 pm

IEDI

XLY

Home Depot's (NYSE:HD) price forecasts for 2024 have been lowered by several analysts following modest sales growth and a weaker consumer outlook. Despite reporting a slight sales increase and beating EPS estimates, analysts have cut price targets and revised earnings estimates downward. Investors can also gain exposure to Home Depot through ETFs like iShares U.S. Consumer Focused ETF (BATS:IEDI) and SPDR Select Sector Fund – Consumer Discretionary (NYSE:XLY).

Portfolio Pulse from Lekha Gupta

August 14, 2024 | 5:48 pm

RACE

Wealthy investors have taken a bearish stance on Ferrari (NYSE:RACE), as observed through options trades tracked by Benzinga. The sentiment is split with 33% bullish and 55% bearish. The options trades indicate a targeted price range of $380 to $560 for Ferrari over the last three months. The stock is currently up 1.41% at $437.88, with RSI indicators suggesting it may be approaching overbought territory.

Portfolio Pulse from Benzinga Insights

August 14, 2024 | 5:45 pm

Financial giants have made significant bullish moves on Boeing (NYSE:BA) with 36 unusual options trades. 50% of traders were bullish, and 36% were bearish. The trades included 15 puts valued at $789,847 and 21 calls valued at $1,249,340. Analysts have set an average price target of $217.4 for Boeing, with ratings ranging from Positive to Buy.

Portfolio Pulse from Benzinga Insights

August 14, 2024 | 5:45 pm

BTCUSD

Brent Johnson, CEO of Santiago Capital, reiterates his 'Dollar Milkshake Theory,' predicting a significant strengthening of the U.S. dollar, which could cause global economic turmoil and impact all asset classes, including cryptocurrencies like Bitcoin. Johnson suggests that understanding the dollar's movements is crucial for both traditional and crypto investment strategies.

Portfolio Pulse from Khyathi Dalal

August 14, 2024 | 5:42 pm

NTDOF

NTDOY

Nintendo has informed developers that the release of its next gaming console, the 'Switch 2,' will likely not occur before April 2025. The new console is expected to feature a larger 1080p screen, magnetically attached controllers, and compatibility with existing Switch games. Nintendo aims to sell an additional 13.5 million units of the current Switch by the end of the fiscal year.

Portfolio Pulse from Anusuya Lahiri

August 14, 2024 | 5:42 pm

HUT

Hut 8 Corp (NASDAQ:HUT) experienced a volatile trading week following mixed second-quarter earnings. Despite initial market disappointment due to revenue and EBITDA misses, analysts from Benchmark and Needham maintained Buy ratings, citing future revenue diversification, cost reductions, and improved mining efficiency. Benchmark set a price target of $17, while Needham set it at $15. The stock saw a recovery, trading higher by 1.73% at $11.15 on Wednesday.

Portfolio Pulse from Anusuya Lahiri

August 14, 2024 | 5:35 pm