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GME

GameStop shares are trading lower after experiencing a surge late Friday, indicating a reversal in the stock's recent momentum.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:41 pm

GME

A significant option trade was made on GameStop shares, with a sweep of 3109 calls for the May 17 expiration at a strike price of $15, priced near the ask at $2.5. This is against an open interest of 27218 for the same strike. GameStop is expected to announce earnings on June 5th after the market closes, with the reference price at $15.017.

Portfolio Pulse from Charles Gross

May 06, 2024 | 2:41 pm

ALE

CSB

WCEO

ALLETE, Inc. (NYSE:ALE) has agreed to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners for $6.2 billion, including debt. The deal, at $67.00 per share in cash, represents a premium over recent share prices and is expected to close in mid-2025. Post-acquisition, ALLETE will become a private company. The acquisition is seen as a move to bolster ALLETE's clean energy initiatives. ALLETE's recent financial performance showed a miss on both EPS and sales estimates. Investors can gain exposure to ALLETE through ETFs like CSB and WCEO.

Portfolio Pulse from Lekha Gupta

May 06, 2024 | 2:39 pm

QMCO

Quantum shares are trading higher following the announcement of its updated plan to regain compliance with the Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:33 pm

AAL

An option alert for American Airlines Group (AAL) indicated a significant trading activity with a sweep of 5000 calls at $14.5, priced at $0.061 each, against an open interest of 4217. This activity occurred when the reference stock price was at $14.055.

Portfolio Pulse from Charles Gross

May 06, 2024 | 2:33 pm

MTZ

MasTec's shares surged following the announcement of better-than-expected Q1 financial results, leading to multiple analysts upgrading their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:31 pm

ABNB

Smart money investors have shown a bearish stance on Airbnb (NASDAQ:ABNB), with options trading activity indicating a split sentiment of 37% bullish and 50% bearish. The major market movers are targeting a price band between $155.0 and $175.0 for ABNB. The trading volume and open interest analysis for the last 30 days reveal significant options activity, including both calls and puts, with a notable put for $34,850 and calls totaling $357,518. Airbnb's current trading volume is 387,505, with a price increase of 1.3% to $161.79, and an earnings announcement is expected in 2 days.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 2:31 pm

MRNA

Deep-pocketed investors have shown a bullish sentiment towards Moderna (NASDAQ:MRNA), with a significant uptick in options activity reported by Benzinga. The activity includes 13 extraordinary options trades, with a lean towards bullish sentiment (53%) over bearish (30%). The trades suggest a target price range for Moderna between $100.0 and $210.0. Moderna's current market position shows a trading volume of 914,961, with a price decrease of -3.4%, and an RSI indicating a potential overbought situation. Earnings are expected in 87 days.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 2:31 pm

SPOT

Over the past 5 years, Spotify Technology (NYSE:SPOT) has outperformed the market with an annualized return of 16.66%, turning a $100 investment into $220.87 today. The company's market capitalization stands at $59.28 billion.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 2:31 pm

NEE

NextEra Energy (NYSE:NEE) has seen a mix of bullish and bearish options trading, with a recent trend showing a bearish stance by significant investors. Analysis of 11 trades reveals a nearly even split between bullish (45%) and bearish (54%) sentiment. The trading activity suggests a price range target of $27.5 to $75.0 for the next three months. Significant trades include both puts and calls, with a notable volume and open interest in options within the $27.5 to $75.0 strike price range. NextEra Energy's current market position shows a trading volume of 1,440,431 and a slight price increase of 0.77%, with a current price of $70.68. Analysts have varying opinions on NEE, with target prices ranging from $67 to $79.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 2:31 pm