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BTCUSD

Andrew Kang, Managing Partner at Mechanism Capital, predicts a bullish future for Bitcoin, forecasting it could reach $80,000 by May and potentially break the $100,000 threshold soon after. He attributes this potential growth to broad-based support from individuals and organizations worldwide, and anticipates that the marketing efforts for Bitcoin ETFs will help overcome supply challenges between $80,000 and $100,000. Kang suggests that breaking the $100,000 barrier could trigger a significant bull run due to a scarcity of supply against ongoing demand.

Portfolio Pulse from Murtuza Merchant

April 12, 2024 | 6:33 pm

GS

Deep-pocketed investors have shown a bearish sentiment towards Goldman Sachs Gr (NYSE:GS), with unusual options activity detected. Benzinga's tracking revealed 27 significant options trades, with a bearish majority. The trades suggest a targeted price range for GS between $320.0 and $480.0. Recent analyst ratings offer mixed views, with a consensus target price of $431.0. GS's current trading volume is 1,600,689, with a price drop of -2.11%, and an earnings announcement expected in 3 days.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 6:31 pm

APH

Amphenol (NYSE:APH) has significantly outperformed the market with an average annual return of 19.79% over the past 15 years, turning a $100 investment into $1,488.85 today. The company's market capitalization stands at $68.29 billion.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 6:30 pm

NVR

Over the past 20 years, NVR (NYSE:NVR) has produced an average annual return of 15.4%, outperforming the market by 7.52% on an annualized basis. A $1000 investment in NVR stock 20 years ago would be worth $17,473.52 today. NVR's market capitalization currently stands at $24.81 billion.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 6:30 pm

BAC

Bank of America Corp (NYSE:BAC) shares fell 1.3% amid broader financial sector declines following major U.S. banks' first-quarter earnings reports. Despite the sector exceeding earnings and revenue expectations, BAC's stock experienced a downturn. JPMorgan Chase & Co. notably surpassed expectations with significant earnings and revenue. Bank of America pays a dividend yielding 3.1% annually and has a 52-week trading range between $38.35 and $24.96.

Portfolio Pulse from Henry Khederian

April 12, 2024 | 6:29 pm

ALB

Albemarle shares are trading lower due to a general weakness in the lithium sector, affecting the stock's performance.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:27 pm

SPY

Ryan Detrick, chief market strategist at Carson Group, downplayed concerns about the impact of March's higher-than-expected CPI report on the stock market. He criticized the government's method of calculating shelter costs within CPI and noted that despite the CPI shock, the Producer Price Index (PPI) did not raise concerns. Detrick also mentioned that the Federal Reserve's less likely action to cut interest rates three times this year reflects a strong economy, which is positive for stocks. He highlighted the SPDR S&P 500 Index's (SPY) 10% gain in Q1, suggesting that early strength often correlates with continued performance throughout the year.

Portfolio Pulse from Aaron Bry

April 12, 2024 | 6:20 pm

ABBV

AbbVie Inc (NYSE:ABBV) released interim results from a Phase 3 study on atogepant for migraine prevention, showing improved outcomes and consistent safety profiles. Despite positive data, ABBV shares dropped 2.75% to $162.92, with trading volume lower than average. The company also raised its revenue outlook for Ubrelvy and Qulipta, expecting over $3 billion in peak revenues, up from previous estimates.

Portfolio Pulse from Vandana Singh

April 12, 2024 | 6:19 pm

AGEN

BMY

Agenus Inc (NASDAQ:AGEN) reported promising Phase 1 trial results for its BOT/BAL therapy in metastatic colorectal cancer, with a 23% overall response rate. The company plans to submit a BLA later this year and present detailed Phase 2 results in 2024. Agenus also executed a one-for-twenty reverse stock split. Despite positive data, funding concerns persist as Agenus ended 2023 with $76.1 million in cash and a significant cash burn. William Blair remains optimistic, maintaining an Outperform rating with a sales forecast of $404 million by 2027 for the therapy.

Portfolio Pulse from Vandana Singh

April 12, 2024 | 6:18 pm

EL

Estee Lauder shares are trading lower due to overall market weakness.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:03 pm