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AA

JPMorgan's Commodities Research team predicts near-term consolidation in aluminum prices due to a surplus in China's market, but expects a long-term rebound driven by global supply constraints and increased demand. Alcoa (NYSE:AA) is strategically positioned to benefit from these dynamics, particularly due to its exposure to alumina and potential sale of its loss-making San Ciprian complex.

Portfolio Pulse from Surbhi Jain

June 03, 2024 | 7:30 pm

BNBUSD

BTCUSD

ETHUSD

SOLUSD

USDTUSD

Bitcoin investor Fred Krueger argues that Bitcoin is the only cryptocurrency worth buying, dismissing the top 20 cryptocurrencies as 'jokes' despite their combined market cap of over $500 billion. He criticizes Ethereum for underperformance and legal issues, Tether for lack of upside, and Binance Coin for centralization and leadership issues. Other cryptocurrencies like Solana, USDC, Ripple, and meme coins like Dogecoin and Shiba Inu are also dismissed for various reasons.

Portfolio Pulse from Khyathi Dalal

June 03, 2024 | 7:25 pm

NVDA

Nvidia shares are trading higher after the company unveiled its new AI chips on Sunday.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 7:22 pm

PEP

Deep-pocketed investors have adopted a bearish approach towards PepsiCo (NASDAQ:PEP), as revealed by Benzinga's options scanner. The majority of options activities are bearish, with significant trades in puts and calls. The price range targeted is between $165.0 to $175.0. PepsiCo's stock is currently down 0.1% at $172.72, with RSI indicators hinting at an oversold condition. The next earnings report is expected in 38 days, and an analyst from Jefferies maintains a Buy rating with a target price of $211.

Portfolio Pulse from Benzinga Insights

June 03, 2024 | 7:16 pm

CVNA

Deep-pocketed investors are showing significant interest in Carvana (NYSE:CVNA) with a mix of bullish and bearish options activities. The options scanner highlighted 23 extraordinary options trades, indicating a potential price range of $80.0 to $185.0. The stock is currently down 1.71% at $98.27, with RSI indicators suggesting it may be oversold. An analyst from JMP Securities has lowered its rating to Market Outperform with a price target of $135.

Portfolio Pulse from Benzinga Insights

June 03, 2024 | 7:16 pm

GPCR

LLY

Structure Therapeutics Inc. (NASDAQ: GPCR) revealed positive 12-week topline obesity data from its Phase 2a study of GSBR-1290, showing a significant weight decrease. Cantor Fitzgerald maintains an Overweight rating with a $65 price target, noting GSBR-1290's competitiveness with Eli Lilly's (NYSE: LLY) orforglipron. The study's rapid titration schedule led to high GI events, but these are expected to reduce with a slower schedule without affecting efficacy.

Portfolio Pulse from Vandana Singh

June 03, 2024 | 7:14 pm

SPY

USO

President Biden has announced the purchase of an additional 3 million barrels of oil for the Strategic Petroleum Reserve. This move is likely to impact the energy sector and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 7:11 pm

GSK

GSK's Blenrep combination therapy significantly reduces the risk of disease progression or death in pretreated multiple myeloma patients, according to interim results from the DREAMM-8 phase 3 trial. The therapy showed a statistically significant improvement in progression-free survival compared to the standard of care. However, GSK shares were down 8.74% following the news.

Portfolio Pulse from Vandana Singh

June 03, 2024 | 7:08 pm

FLOKIUSD

FLOKI's price has surged by 16.47% in the past 24 hours, continuing a positive trend over the past week. Despite the price increase, trading volume has decreased by 24.0%, and the circulating supply has slightly decreased by 0.38%. FLOKI's market cap is currently ranked #50 at $2.71 billion.

Portfolio Pulse from Benzinga Insights

June 03, 2024 | 7:01 pm

DHR

Recent options market activity indicates a bearish sentiment among big-money traders for Danaher (NYSE:DHR). Benzinga's options scanner identified 12 unusual trades, with 58% being bearish. This could signal potential upcoming changes for the company.

Portfolio Pulse from Benzinga Insights

June 03, 2024 | 7:00 pm