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SPY

Fed Chair Powell announced plans to slow the balance sheet runoff to ensure a smooth process and avoid market turmoil, similar to past experiences. This move is aimed at stabilizing financial markets by carefully managing the reduction of the Federal Reserve's balance sheet.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:53 pm

SPY

Federal Reserve Chairman Jerome Powell indicated that strong economic growth and a robust labor market could persist without ruling out the possibility of inflation continuing to decline. This statement suggests a cautiously optimistic outlook for the U.S. economy, balancing growth with inflation concerns.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:48 pm

IYK

VTI

Coca-Cola Co (NYSE:KO) reported a 3% year-on-year sales growth for Q1 FY24, reaching $11.3 billion and surpassing analyst expectations. Adjusted EPS was $0.72, also above forecasts. Analysts from Goldman Sachs, BofA Securities, and Truist Securities remain optimistic, citing strong organic revenue growth, updated FY24 guidance, and effective marketing strategies. Despite near-term concerns, the consensus is bullish with price targets adjusted accordingly. Coca-Cola's stock saw a 1.08% increase to $62.44. Exposure to Coca-Cola can also be gained through IShares U.S. Consumer Staples ETF (NYSE:IYK) and Vanguard Total Stock Market Index Fund ETF (NYSE:VTI).

Portfolio Pulse from Shivani Kumaresan

May 01, 2024 | 6:48 pm

APA

Recent options trading activity for APA Corporation (NASDAQ:APA) shows a bearish sentiment among significant investors, with a higher volume of puts compared to calls. The trading range for APA is expected to be between $27.5 and $42.5 over the next three months. The largest trades observed indicate a mix of bullish and bearish sentiments on specific options. APA, an independent exploration and production company, has seen its stock price decrease by -3.12%, currently trading at $30.46. Analyst opinions on APA vary, with target prices ranging from $28 to $54.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:45 pm

SPY

Federal Reserve Chairman Jerome Powell indicated that future economic data will determine if the current interest rate level represents the peak. This statement suggests that the Federal Reserve's future decisions on interest rates will be heavily data-dependent, leaving investors speculating on the direction of monetary policy.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:44 pm

SPY

Fed Chair Powell indicated that future rate hikes would require evidence that current policies are insufficient to reduce inflation to the target level. He suggested that the next policy move is unlikely to be a rate hike, emphasizing the focus on maintaining restrictive policy for an appropriate duration.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:42 pm

JNJ

Johnson & Johnson (NYSE:JNJ) announced a proposed $6.475 billion settlement to resolve the majority of lawsuits related to ovarian cancer from cosmetic talc litigation. This settlement, covering about 99.75% of the lawsuits, aims to address claims through a consensual 'prepackaged' Chapter 11 bankruptcy if 75% of claimants agree. The company has already settled 95% of mesothelioma lawsuits and allocated $11 billion for talc-related settlements. Despite ongoing legal challenges, JNJ remains confident in its defense. JNJ shares rose 4.47% to $151.06.

Portfolio Pulse from Vandana Singh

May 01, 2024 | 6:42 pm

UTHR

United Therapeutics Corporation (NASDAQ:UTHR) reported a 34% increase in first-quarter sales to $677.7 million, surpassing the consensus of $623.9 million. EPS rose to $6.17 from $4.86, beating the consensus of $5.56. The company highlighted record revenue, double-digit year-over-year growth, and significant increases in Tyvaso, Tyvaso DPI, Nebulized Tyvaso, Orenitram, and Unituxin sales. A $1 billion accelerated share repurchase was implemented, reflecting confidence in the company's potential despite upcoming competition. UTHR shares rose 8% to $253.08.

Portfolio Pulse from Vandana Singh

May 01, 2024 | 6:35 pm

CETX

CTMX

CVRX

LEG

PFE

RCKY

TMDX

U.S. stocks rose following the Federal Reserve's decision to maintain the federal funds rate at 5.25% to 5.5%. The Dow Jones gained over 200 points, while the NASDAQ and S&P 500 also saw increases. Pfizer reported better-than-expected Q1 financial results, with adjusted EPS and sales beating consensus. CytomX Therapeutics, TransMedics Group, and Rocky Brands saw significant stock increases after positive financial updates. Conversely, Cemtrex, CVRx, and Leggett & Platt experienced notable declines following financial results and updates.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 6:32 pm

BTCUSD

ETHUSD

SOLUSD

Alex Krüger, an economist and trader, shared insights on the cryptocurrency market, highlighting the Bitcoin ETF as a key driver of the current cycle. He noted Ethereum's underperformance despite benefits for stakers and airdrop farmers, and praised Solana for its appeal to retail traders but mentioned its network issues. Krüger also discussed the rise of meme coins and the market's volatility due to scammy launches, emphasizing that the crypto cycle is not over and opportunities still exist.

Portfolio Pulse from Khyathi Dalal

May 01, 2024 | 6:31 pm