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ACB

Aurora Cannabis (NASDAQ:ACB), a leading global cannabis company, is well-positioned in Germany following the country's legalization of adult-use marijuana. Germany's reform is significant for Aurora, especially in the medical marijuana sector, where the company aims to expand its patient outreach. Aurora's VP of external affairs, Dirk Heitepriem, expressed optimism about leveraging their global experience for success in Germany's evolving market. The company's shares traded 3.92% higher at $3.18 per share following the news.

Portfolio Pulse from Nina Zdinjak

March 08, 2024 | 8:32 pm

GDX

GLD

IAU

SGOL

Global physically backed gold ETFs have experienced outflows for nine consecutive months, totaling $5.7 billion year-to-date, despite gold prices reaching all-time highs. The outflows are primarily from North America, with factors such as a strong labor market, higher inflation, and a potential Federal Reserve rate cut contributing to the trend. However, gold prices continue to rise due to speculative betting and physical demand, particularly from China. Central bank demand remains strong, supporting gold prices. Gold ETFs mentioned include SPDR Gold Trust (GLD), iShares Gold Trust (IAU), Abrdn Physical Gold Shares ETF (SGOL), and VanEck Gold Miners (GDX).

Portfolio Pulse from Stjepan Kalinic

March 08, 2024 | 8:31 pm

MRNA

Financial giants have shown a bullish stance on Moderna (NASDAQ:MRNA) through recent options trading, with a mix of bullish and bearish trades observed. The trading activity suggests a target price range of $40.0 to $115.0 for MRNA over the next three months. Moderna, a commercial-stage biotech company, has seen its mRNA technology gain rapid validation, especially with its COVID-19 vaccine. The current trading volume is 2,962,331 with the stock price at $99.48. Analysts have given mixed reviews, with an average target price of $100.67, ranging from $86 to $125.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 8:31 pm

AZO

Deep-pocketed investors have shown a divided sentiment towards AutoZone (NYSE:AZO), with a bearish tilt observed through Benzinga's options scanner. The scanner highlighted 16 unusual options activities, with a price focus between $2600 and $3400. The analysis of these options shows a mix of bullish and bearish positions, with a higher total trade price for calls. AutoZone, a leading retailer of aftermarket automotive parts, has its stock currently positioned at $3124.01, with professional analysts offering mixed ratings and price targets ranging from $3025 to $3400.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 8:30 pm

CVX

Whale investors have shown a mixed sentiment towards Chevron (NYSE:CVX), with options trading indicating a split between bullish and bearish positions. Benzinga's options scanner revealed 14 unusual trades, with a price target range of $130.0 to $155.0 for CVX over the next three months. The trading volume and open interest in Chevron's options suggest significant investor interest, particularly in puts, which have seen larger total trade prices compared to calls. Chevron's current market status shows a slight increase in stock price, with an upcoming earnings report in 49 days.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 8:30 pm

CAT

$1000 invested in CATCo Reinsurance Opportunities Fund Ltd (NYSE:CAT) 15 years ago would now be worth $12,700.52, showcasing an annualized return of 18.57% and outperforming the market by 4.98%. CATCo has a current market cap of $170.84 billion.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 8:30 pm

ASML

ASML Holding (NASDAQ:ASML) has significantly outperformed the market over the past 5 years, with an annualized return of 27.61% and an average annual return of 40.52%, growing a $1000 investment to $5,522.70. The company's current market capitalization stands at $408.95 billion.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 8:30 pm

ACLS

AMAT

ANET

ARM

ASX

CISO

DELL

HOLO

MOBX

MPWR

NVTS

QIWI

SMX

SNOW

Shares of technology sector companies are trading lower, indicating a possible overall pullback in tech stocks.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 8:26 pm

CCL

Carnival Corporation's stock (CCL) is trading higher following an upgrade from Stifel, which raised its price target from $25 to $26, citing the stock's recent underperformance compared to peers as a buying opportunity.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 8:14 pm

AVGO

MRVL

Semiconductor stocks are trading lower after Broadcom and Marvell reported their quarterly earnings, leading to a sector-wide pullback. The sector may also experience volatility due to anticipation of CHIPS act subsidies.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 8:08 pm