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IREN

Iris Energy (NASDAQ:IREN) shares rose after announcing the purchase of 1,080 NVIDIA H200 GPUs for $43.9 million, expected to boost AI Cloud Services earnings to 10% by year-end. The company anticipates $32 million in annualized hardware profit.

Portfolio Pulse from Dylan Berman

September 16, 2024 | 4:56 pm

SPY

White House's Brainard indicated that markets are projecting lower mortgage and car loan rates, which are expected to support economic recovery. This was discussed at a Council on Foreign Relations event.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:52 pm

UPST

Upstart Holdings, Inc. (NASDAQ:UPST) shares fell after announcing a $300 million convertible senior notes offering. The notes, maturing in 2029, can be converted into cash or stock. Proceeds will fund capped call transactions and repurchase existing notes. The stock is trading above its 50-day average, but analysts suggest potential downside.

Portfolio Pulse from Erica Kollmann

September 16, 2024 | 4:51 pm

GEVO

Gevo shares rose following the announcement of a U.S. Patent for their Ethanol to Olefins (ETO) process, enhancing their intellectual property in bio-based renewable fuel and chemical production.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:50 pm

ABNB

Airbnb (NASDAQ:ABNB) has seen a surge in options activity, with a mix of bullish and bearish trades. Notably, 9 uncommon options trades were identified, with a majority being calls. The trading activity suggests a focus on a price range between $70 and $160. The current market status shows ABNB trading at $117.22, with a neutral RSI and an upcoming earnings announcement in 44 days.

Portfolio Pulse from Benzinga Insights

September 16, 2024 | 4:45 pm

NEM

Financial giants have shown a bullish interest in Newmont (NYSE:NEM) with significant options trading activity. Analysts have upgraded their ratings, and the stock is currently trading at $53.28. The predicted price range for NEM is between $32.5 and $60.0.

Portfolio Pulse from Benzinga Insights

September 16, 2024 | 4:45 pm

FCX

Recent options activity for Freeport-McMoRan (NYSE:FCX) shows a bullish sentiment among major investors, with 63% of trades being bullish. The stock is currently trading at $43.32, with a predicted price range of $42.0 to $60.0. Analysts have given positive ratings, with price targets between $52 and $55.

Portfolio Pulse from Benzinga Insights

September 16, 2024 | 4:45 pm

REE

REE Automotive Ltd. (NASDAQ:REE) has announced a strategic alliance with Motherson Group, securing a $45.35 million investment through a direct offering. This partnership will enhance REE's production capabilities and support its expansion in the electric vehicle market.

Portfolio Pulse from Lekha Gupta

September 16, 2024 | 4:44 pm

MU

Micron Technology shares are trading lower, potentially due to broader semiconductor industry trends. Morgan Stanley has also reduced its price target for Micron from $140 to $100.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:42 pm

XLU

The upcoming August retail sales data could influence the Federal Reserve's interest rate decision, with potential rate cuts being debated. Bank of America forecasts a decline in retail sales, which could lead to a larger rate cut. The uncertainty around the FOMC meeting is expected to be a trading catalyst, with different strategies suggested based on retail sales outcomes and the Fed's stance. Rate-sensitive sectors like manufacturing and housing could benefit from easing rate pressures, and Bank of America is overweight on Financials, Consumer Discretionary, Real Estate, and Utilities, including the Utilities Select Sector SPDR Fund (NYSE:XLU).

Portfolio Pulse from Piero Cingari

September 16, 2024 | 4:41 pm