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SPY

The Federal Reserve's latest FOMC statement announced a decision on interest rates, impacting financial markets and investor sentiment. While the statement itself does not mention specific companies or ETFs, the broader implications of the rate decision are significant for market movements, particularly affecting indices and ETFs like SPY that track the overall market performance.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:00 pm

NVAX

Novavax (NYSE:NVAX) has seen a decrease in short interest, with 43.91 million shares sold short, representing 36.57% of its float. This is a significant reduction of 8.76% from its last report, indicating a potential shift in market sentiment towards the stock. The current short interest suggests a more bullish outlook compared to its peers, with the peer group average at 11.08%. Short interest is a key indicator of market sentiment, and a decrease may imply a positive outlook for Novavax's stock in the short term.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:00 pm

SNA

Snap-on (NYSE:SNA) has seen a 13.6% increase in short interest, with 2.35 million shares sold short, representing 5.18% of its float. This indicates a bearish market sentiment, as it takes traders 7.81 days to cover their short positions. Snap-on's short interest is higher than its peer group average of 3.17%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:00 pm

SPY

The Federal Reserve has decided to leave the key overnight rate unchanged, signaling a pause in its monetary policy adjustments. This decision could impact investor sentiment and market volatility, particularly affecting the performance of broad market indices and interest-sensitive sectors.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:00 pm

ACGL

Wells Fargo analyst Elyse Greenspan maintains an Overweight rating on Arch Capital Group (NASDAQ:ACGL) and raises the price target from $109 to $110.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 5:59 pm

BWEB

IAS

METV

RBLX

Roblox Corporation (NYSE:RBLX) shares are up after announcing a partnership with Integral Ad Science Holding Corp (NASDAQ:IAS) to expand access to immersive video ads for all advertisers. This move opens monetization opportunities for Roblox creators, with ads being served to users aged 13 and up. Roblox plans to introduce a brand Lift Solution with Kantar Context Lab and aims for full integrations with multiple brand lift partners. Investors can also gain exposure to RBLX through Bitwise Web3 ETF (BWEB) and Roundhill Ball Metaverse ETF (NYSE:METV).

Portfolio Pulse from Nabaparna Bhattacharya

May 01, 2024 | 5:57 pm

High-rolling investors have shown a bullish sentiment on Altria Group (NYSE:MO) according to Benzinga's tracking of options data, with a significant number of options trades indicating a price target between $30.0 and $45.0. The data reveals a mix of bullish and bearish sentiments, with a majority leaning towards bullish through the purchase of calls over puts. Altria Group, a leading tobacco company with interests in various sectors, has seen its stock price slightly increase, with an upcoming earnings announcement in 90 days. Analyst ratings from UBS suggest a Sell with a target price of $36.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 5:46 pm

HAP

HJEN

SHEL

Shell PLC (NYSE:SHEL) is exiting China's power market to focus on enhancing profitability in its natural gas and oil sectors. This strategic move is part of a broader effort to streamline operations and save up to $3 billion annually. The exit includes generation, trading, and marketing but does not affect Shell's electric vehicle charging business. Shell aims to invest selectively in profitable power sector ventures and has recently set a new ambition to reduce customer emissions by 15%-20% by 2030. Shell's stock can be accessed through Direxion Hydrogen ETF (NYSE:HJEN) and VanEck Natural Resources ETF (NYSE:HAP).

Portfolio Pulse from Shivani Kumaresan

May 01, 2024 | 5:45 pm

SBUX

Starbucks Corp (NASDAQ:SBUX) shares fell after reporting a miss in revenue and earnings for the fiscal second quarter. Analysts from Stifel, Wedbush, and TD Cowen have lowered their price targets for SBUX, citing significant transaction weakness in the U.S., softness in China, and a decline in Starbucks Rewards members. The company has revised its FY24 guidance downwards and plans to implement product innovations, new marketing tactics, and operational enhancements to improve sales.

Portfolio Pulse from Priya Nigam

May 01, 2024 | 5:41 pm

AON

AXP

BAC

COIN

LNC

PYPL

ROOT

Today's session highlighted significant options activity for 10 financial stocks, indicating potential trading opportunities based on whale alerts. These alerts track large transactions, suggesting shifts in market sentiment for stocks like AON, COIN, C, LNC, PYPL, SQ, AXP, ROOT, BX, and BAC. The activity ranged from bearish to bullish sentiments, with notable trades in both call and put options across various expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 5:35 pm