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CVS

Recent unusual options activity in CVS Health (NYSE:CVS) indicates a predominantly bearish sentiment among big-money traders, with a notable volume of puts over calls. This activity suggests expectations of CVS's stock price moving within a $50.0 to $85.0 range. Despite this bearish outlook, CVS Health's diverse healthcare services and recent acquisitions position it for potential growth. Analyst ratings vary, with a consensus target price of $69.0, reflecting a mix of cautious optimism and neutral stances.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 2:17 pm

ADBE

Adobe (NASDAQ:ADBE) has seen significant options activity, indicating a bullish stance by large investors. Analysis of 9 trades shows a split sentiment, with 33% bullish and 33% bearish. Notable options activity includes both puts and calls, with a focus on strike prices between $460.0 and $500.0. Adobe's stock is currently up by 0.98%, trading at $481.22, with an RSI indicating a neutral position. The next earnings report is expected in 41 days.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 2:17 pm

AMGN

MELI

PCTY

Amgen Inc. reported better-than-expected Q1 financial results, leading to a 12.2% surge in its shares. Other companies like Tandem Diabetes Care, WideOpenWest, and El Pollo Loco also saw significant gains after reporting strong financial results. Notable movements included Paylocity Holding's 16% gain post-earnings report and share repurchase program announcement, and MercadoLibre's 10.3% increase after surpassing Q1 financial expectations.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 2:16 pm

LOCO

El Pollo Loco Holdings, Inc (NASDAQ:LOCO) shares surged after reporting first-quarter FY24 earnings, with sales growth of 1.4% to $116.15 million, surpassing analyst estimates. System-wide comparable restaurant sales increased by 5.1%. Operating income rose 24% to $9.7 million, and adjusted EBITDA increased 28.7% to $15.7 million. Adjusted EPS of $0.22 beat the consensus estimate of $0.14. The company plans to open new restaurants and anticipates a capital spend of $25 million to $28 million for the remainder of 2024. LOCO shares jumped 19.5% to $10.28.

Portfolio Pulse from Shivani Kumaresan

May 03, 2024 | 2:15 pm

JD.com has seen a notable option activity, with 3000 contracts for June 21 $34 calls bought at $1.96 each, against an open interest of 23777. This activity comes ahead of their earnings report on May 16.

Portfolio Pulse from Charles Gross

May 03, 2024 | 2:15 pm

NVT

NVent Electric's stock is trading higher following the announcement of their Q1 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 2:14 pm

RGA

Reinsurance Group Of America's shares increased following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 2:13 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for May 3rd, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula. It outlines potential price movements for these assets, suggesting levels for bulls and bears to watch. The memo also highlights the importance of upcoming economic reports, including Non-Farm Payrolls, Average Hourly Earnings, and the ISM Services Index, which could significantly impact market volatility and trading strategies.

Portfolio Pulse from RIPS

May 03, 2024 | 2:12 pm

DIS

FOX

FUBO

IRBO

VERS

WBD

FuboTV Inc (NYSE:FUBO) reported fiscal Q1 2024 results with a 24% Y/Y sales increase to $402.4 million, surpassing analyst estimates. Adjusted EPS loss improved to $(0.11), beating expectations. The company saw significant growth in North America with a 24% revenue increase and an 18% rise in paid subscribers. FuboTV remains optimistic about its antitrust lawsuit against The Walt Disney Co (NYSE:DIS), FOX Corp (NASDAQ:FOX), and Warner Bros. Discovery Inc (NASDAQ:WBD). FuboTV's stock fluctuated, opening with a 10% premarket gain but closing down 5.16% at $1.46. The company's performance and legal confidence could impact its stock and those of DIS, FOX, and WBD. FUBO is also featured in ProShares Trust ProShares Metaverse ETF (NYSE:VERS) and IShares Robotics And Artificial Intelligence Multisector ETF (NYSE:IRBO).

Portfolio Pulse from Anusuya Lahiri

May 03, 2024 | 2:10 pm

AMGN

Barclays analyst Carter Gould upgrades Amgen (NASDAQ:AMGN) from Underweight to Equal-Weight and raises the price target from $230 to $300, indicating a more favorable outlook for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 2:10 pm