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TQQQ

ProShares UltraPro QQQ (TQQQ) fell by 5.1% to $56.50 due to January 2024 inflation data missing economists' forecasts. The annual CPI inflation rate was reported at 3.1%, above the expected 2.9%, suggesting persistent inflationary pressures. This could lead to concerns about future Federal Reserve actions on interest rates, impacting borrowing costs and economic growth expectations.

Portfolio Pulse from Henry Khederian

February 13, 2024 | 3:48 pm

LDOS

Leidos Holdings' shares surged following the announcement of their Q4 financial results, which exceeded expectations. Additionally, the company provided guidance for FY24, further boosting investor confidence.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 3:48 pm

DBGI

Digital Brands Group (DBGI) shares surged following the company's announcement of no new equity offerings for 2024, signaling confidence in its financial stability and future growth prospects.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 3:47 pm

PANW

Palo Alto Networks (NASDAQ:PANW) has seen unusual options activity, with a bullish sentiment from deep-pocketed investors. Benzinga's options scanner revealed 18 extraordinary activities, with 61% bullish and 38% bearish sentiment. The significant trading range for PANW is between $150.0 and $390.0. The most notable options include bullish and neutral calls and a bullish put, with the highest trade price for a call at $360.00 strike price. PANW's stock is currently down -3.52% at $358.88, with potential overbought indicators and earnings expected in 7 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:46 pm

ZS

Financial giants have shown a bearish sentiment towards Zscaler (NASDAQ:ZS), with options trading analysis revealing 56% bearishness. The trading activity suggests a targeted price range for ZS between $180.0 and $260.0. Notable options activity includes both bearish and bullish trades, with a significant volume and open interest in options. Zscaler, a SaaS firm specializing in cybersecurity, has seen its stock price decrease by -4.87%, with an earnings announcement expected in 16 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:46 pm

ANET

CDNS

GLD

KO

QQQ

SPY

Inflation data came in hotter than expected, causing a slight pullback in the stock market, as represented by SPDR S&P 500 ETF Trust (SPY). Momo gurus are pushing a narrative that stocks will rise despite persistent inflation, citing it as a one-off event. Earnings from AI companies Arista Networks (ANET) and Cadence Design Systems (CDNS) were below expectations, impacting AI stocks negatively. Conversely, Coca-Cola (KO) reported better-than-expected earnings. Early trade shows negative money flows in major tech stocks and ETFs like SPY and Invesco QQQ Trust Series 1 (QQQ), with the momo crowd buying and smart money selling stocks. Gold, represented by SPDR Gold Trust (GLD), is under pressure due to the hotter CPI, while Bitcoin remains range-bound.

Portfolio Pulse from The Arora Report

February 13, 2024 | 3:45 pm

SQ

Deep-pocketed investors have shown a bullish sentiment towards Block (NYSE:SQ), with options market activity indicating a focus on a price band between $35.0 and $85.0. The options scanner at Benzinga highlighted 18 significant activities, with a majority being bullish. The largest trades include both calls and puts with sentiments ranging from bullish to bearish. Block's current trading volume is 3,297,513, with a price decrease of -4.31%, and an RSI indicating a neutral position. Analysts have issued varying ratings, with a consensus target price of $88.0.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:45 pm

DBGI

Digital Brands Group Inc (NASDAQ:DBGI) shares surged by 287% to $11.09 following the company's reaffirmation of its fiscal year 2024 forecast, which includes revenue between $27 million and $30 million, internal free cash flow of $6 million to $7 million, and EBITDA of $1.5 million to $2.0 million. The company also announced no equity offerings for 2024 and a $1 million reduction in operating costs. CEO Hil Davis emphasized the exploration of strategic alternatives to maximize shareholder value.

Portfolio Pulse from Henry Khederian

February 13, 2024 | 3:43 pm

MCO

Moody's Corporation reported mixed results for Q4 and provided guidance that did not meet expectations, leading to a decrease in its stock price.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 3:41 pm

U

Unity Software's stock is trading lower following a downgrade by Macquarie from Neutral to Underperform, with a maintained price target of $20.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 3:40 pm