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ANET

Investors have taken a predominantly bearish stance on Arista Networks (NYSE:ANET) as indicated by recent options trading activity. Benzinga's options scanner identified 13 unusual trades, with 61% being bearish. The trades suggest a targeted price range of $245.0 to $380.0. The stock is currently down by 2.51%, trading at $331.66.

Portfolio Pulse from Benzinga Insights

June 21, 2024 | 2:33 pm

QCOM

Deep-pocketed investors are showing a bullish stance on Qualcomm (NASDAQ:QCOM) with significant options activity. Benzinga's options scanner highlighted 25 extraordinary options activities, with a mix of bullish and bearish sentiments. Analysts maintain a Buy rating with target prices around $240.0.

Portfolio Pulse from Benzinga Insights

June 21, 2024 | 2:33 pm

GLD

NVDA

QQQ

SPY

US private sector activity in June exceeded estimates, with the Composite PMI rising to 54.6, the Services PMI to 55.1, and the Manufacturing PMI to 51.7. This indicates the fastest growth in two years. Despite the positive data, major US equity indices traded in the red, except for the Dow Jones. The SPDR S&P 500 ETF (SPY) fell 0.3%, the Invesco QQQ Trust (QQQ) dropped 0.5%, and Nvidia Corp. (NVDA) declined 3.2%. Treasury yields and the dollar rose, while gold, tracked by the SPDR Gold Trust (GLD), fell over 1%.

Portfolio Pulse from Piero Cingari

June 21, 2024 | 2:33 pm

NVDA

TSLA

XPEV

XPeng Inc. (NYSE:XPEV) is reorganizing its smart driving team and has launched an AI division to stay competitive in the autonomous driving sector. Key personnel changes include the departure of Lin Yishu and Wu Xinzhou, with Junyao stepping in. XPeng has also expressed interest in Tesla's full self-driving software and recently launched its flying car, the X2, in Beijing.

Portfolio Pulse from Nabaparna Bhattacharya

June 21, 2024 | 2:31 pm

PTC

PTC Inc. (NASDAQ:PTC) has significantly outperformed the market over the past decade, delivering an average annual return of 16.47%. A $1000 investment in PTC 10 years ago would be worth $4,650.73 today. The company's current market capitalization stands at $21.17 billion.

Portfolio Pulse from Benzinga Insights

June 21, 2024 | 2:30 pm

MSTR

MicroStrategy (NASDAQ:MSTR) has significantly outperformed the market over the past 5 years, delivering an average annual return of 59.55%. A $100 investment in MSTR 5 years ago would be worth $1,023.45 today. The article highlights the power of compounded returns.

Portfolio Pulse from Benzinga Insights

June 21, 2024 | 2:30 pm

UNG

The latest report on USA natural gas storage shows an increase of 71 billion cubic feet, which is higher than the estimated 69 billion cubic feet but lower than the previous week's 74 billion cubic feet.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 2:30 pm

GLD

SPY

Bank of America predicts the first rate cut in December, with a 'higher-for-longer' rates environment. The bank expects a gradual economic slowdown and persistent inflation, with the S&P 500 ending the year slightly lower and gold prices rising.

Portfolio Pulse from Piero Cingari

June 21, 2024 | 2:25 pm

ACN

Accenture (NYSE:ACN) reported strong AI bookings growth, which led to a 7.7% rise in its stock price despite missing analyst estimates. The company recorded $900 million in new generative AI bookings and $2 billion for the fiscal year to date. Accenture's revenue slightly decreased YoY, but its net income remained robust. The company expects sales between $16.05 billion and $16.65 billion for the current quarter.

Portfolio Pulse from Upwallstreet

June 21, 2024 | 2:24 pm

FDS

FactSet shares are trading higher following a Q3 EPS beat and 2024 EPS guidance raise.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 2:23 pm