Streetbeat News

Stock Prices

MRK

Merck & Co (NYSE:MRK) has seen unusual options activity indicating a bullish stance by large investors, with a mix of 55% bullish and 44% bearish sentiment among the trades. The options target a price range of $105.0 to $125.0. Recent analyst ratings have varied, with an average target price of $124.67, but with differing opinions from Cantor Fitzgerald and Societe Generale. The company's stock is currently down by -0.97%, trading at $121.01, with an earnings announcement expected in 36 days.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:31 pm

APO

PARA

Apollo Global Management has made an $11 billion offer for Paramount's Hollywood studio, according to a Wall Street Journal report. This move could potentially reshape the landscape of the entertainment industry by combining Apollo's financial resources with Paramount's storied film and television assets.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:27 pm

SBUX

Starbucks (NASDAQ:SBUX) has seen a mix of bullish and bearish sentiment in its options market, with a slight lean towards bearishness. Analysis of unusual trades shows 46% bullish and 53% bearish sentiment, with notable activity in calls and puts within a price window of $75.0 to $100.0. The market's attention is on options with strike prices at $95 and $90, showing varied sentiments. Starbucks's current stock price is $91.67, with analysts setting an average price target of $101.33. Ratings from TD Cowen, JP Morgan, and Citigroup reflect a range of market expectations.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:16 pm

GLD

SPY

UUP

The Federal Reserve maintained interest rates at 5.25%-5.5% during its March meeting, with projections indicating three rate cuts in 2024, fewer reductions in 2025 and 2026. Economic growth projections for 2024-2026 were revised upwards, while the unemployment rate for 2024 was slightly reduced. Following the announcement, the SPDR S&P 500 ETF Trust (SPY) rose 0.4%, the Invesco DB USD Index Bullish Fund ETF (UUP) fell 0.2%, and the SPDR Gold Trust (GLD) increased by 0.8%.

Portfolio Pulse from Piero Cingari

March 20, 2024 | 6:13 pm

TME

Tencent Music Entertainment Group (NYSE:TME) shares rose after reporting strong Q4 results, with analysts upgrading ratings and price targets. Goldman Sachs upgraded TME to Buy with a price target of $14.00, citing sustained annual music net adds and limited competition. Mizuho Securities and Benchmark also reiterated Buy ratings, highlighting accelerated subscription growth, expanded gross margins, and strategic focus on core music growth. Shares of TME increased by 4.86% to $11.55.

Portfolio Pulse from Priya Nigam

March 20, 2024 | 6:12 pm

SPOT

BofA Securities analyst Jessica Reif Ehrlich raised the price target for Spotify Technology S.A. (NYSE:SPOT) to $315 from $265 and maintained a Buy rating. The optimism is based on expected Q1 FY24 results in line with guidance, potential for a share repurchase program post-new CFO announcement, and sustainable share price momentum driven by subscriber growth and monetization opportunities. Adjustments were made to the first-quarter forecast and CY24 estimates, while CY25 and CY26 forecasts were raised, indicating mid-teens revenue growth.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 6:10 pm

MODG

Shares of Topgolf Callaway Brands resumed trading and experienced a decline. The article also mentions MODG.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:07 pm

DIA

IWM

QQQ

SPY

Major stock indexes experienced an uptick following the Federal Reserve's decision to keep interest rates unchanged. This decision impacts investor sentiment and market dynamics, influencing the performance of major index-tracking ETFs such as DIA, IWM, QQQ, and SPY.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:04 pm

ETAO

LFCR

OTRK

SMR

XTLB

Lifecore Biomedical's shares plummeted by 31.7% after announcing the conclusion of its strategic evaluation process, management changes, and board reshuffling. Other stocks experienced significant movements, with gainers like ETAO International and XTL Biopharmaceuticals seeing sharp increases due to a reverse stock split and acquisition news, respectively. Losers included NuScale Power Corporation, which dropped 28% following a downgrade by Wells Fargo, and Ontrak, Inc., which fell 26% after a previous day's surge.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 6:03 pm

IGC

IGC Pharma (NYSE:IGC) announced promising interim results for their Alzheimer's drug, IGC-AD1, at Benzinga's Healthcare Summit. The drug, aimed at reducing agitation in Alzheimer's patients, shows potential in addressing both neuropsychiatric symptoms and the disease's underlying pathology by reducing amyloid plaques. IGC-AD1 demonstrated rapid effectiveness within two weeks and a favorable safety profile. The news led to a temporary trading halt of IGC's shares, underscoring market anticipation for this innovative treatment.

Portfolio Pulse from Abbey Higginbotham

March 20, 2024 | 6:02 pm