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The Market Clubhouse Morning Memo for August 15th, 2024, provides a detailed analysis of key price levels for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA. The memo highlights potential bullish and bearish scenarios for each asset, emphasizing the importance of monitoring these levels closely. The trading session is expected to be volatile due to the release of significant economic data and remarks from Federal Reserve members.

Portfolio Pulse from RIPS

August 15, 2024 | 3:07 pm

JOBY

Joby Aviation announced on X that they are ramping up production in Marina, California, and have rolled out three production prototype aircraft from their manufacturing line.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 3:04 pm

JNJ

Johnson & Johnson (NYSE:JNJ) is nearing approval for a $6.48 billion settlement to resolve thousands of lawsuits alleging its baby powder products cause cancer. Over 75% of claimants have agreed to the settlement, surpassing the threshold required for judicial approval. A J&J subsidiary will file for bankruptcy protection to finalize the settlement. This marks a renewed attempt to conclude the long-standing talc litigation after previous bankruptcy filings were rejected.

Portfolio Pulse from Vandana Singh

August 15, 2024 | 3:03 pm

AMZN

Amazon has launched a new Visa credit card in partnership with Barclays, called the Amazon Barclaycard, which offers no annual fees and a six-month interest-free period. Despite volatility, Amazon's stock has increased by 12% this year. The stock's performance has been influenced by various factors, including a strong earnings report and market reactions.

Portfolio Pulse from Zaheer Anwari

August 15, 2024 | 3:03 pm

LLAP

LMT

Terran Orbital Corporation (NYSE:LLAP) shares plummeted after announcing a buyout deal with Lockheed Martin Corporation (NYSE:LMT) for $450 million. Lockheed Martin will acquire Terran Orbital for $0.25 per share in cash and retire its existing debt. The transaction includes a new $30 million working capital facility and is expected to close in Q4 2024. Terran Orbital will continue to operate as a commercial supplier post-acquisition.

Portfolio Pulse from Lekha Gupta

August 15, 2024 | 3:03 pm

INTC

Intel has seen unusual options activity with a significant bearish sentiment. Analysis of 14 trades revealed 64% bearish and 14% bullish tendencies. The major market movers are focusing on a price range between $16.0 and $24.0. Intel's stock is currently up 2.33% at $20.39, with RSI indicators suggesting it may be oversold.

Portfolio Pulse from Benzinga Insights

August 15, 2024 | 3:02 pm

WFC

Whales have shown a bullish stance on Wells Fargo (NYSE:WFC) with 55% of options trades being bullish. Significant options activity has been detected, with a focus on a price band between $40.0 and $62.5. The stock is currently trading at $54.9, up by 2.3%, with a neutral RSI. Analysts have a consensus target price of $68.0.

Portfolio Pulse from Benzinga Insights

August 15, 2024 | 3:02 pm

MGNX

Over the past three months, 8 analysts have shared their insights on Macrogenics (NASDAQ:MGNX), with opinions ranging from bullish to bearish. The average 12-month price target has dropped by 43.1% to $7.75. Recent analyst actions include several downgrades and lowered price targets, reflecting concerns about the company's financial performance, including a -17.81% decline in revenue growth and challenges in debt management.

Portfolio Pulse from Benzinga Insights

August 15, 2024 | 3:01 pm

BAC

Bank of America (NYSE:BAC) shares are trading higher by 1.8% to $39.48 following favorable economic data indicating a sharp rebound in U.S. retail sales and an improvement in the labor market. The U.S. Census Bureau reported a 1% month-over-month increase in retail sales for July, surpassing expectations. This growth benefits financial institutions like Bank of America through increased consumer borrowing, higher transaction volumes, and improved liquidity.

Portfolio Pulse from Henry Khederian

August 15, 2024 | 3:01 pm

NCMI

Over the past three months, four analysts have evaluated National CineMedia (NASDAQ:NCMI), with ratings ranging from bullish to somewhat bullish. The average 12-month price target has increased to $6.88, reflecting a 14.67% rise from the previous target. National CineMedia has shown significant revenue growth but faces challenges in profitability and returns.

Portfolio Pulse from Benzinga Insights

August 15, 2024 | 3:01 pm