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Stock Prices

EWJ

iShares MSCI Japan Index Fund (EWJ) is experiencing an increase in trading activity, attributed to the positive sentiment in global markets after the recent Federal Reserve decision. Additionally, the Japanese yen is seeing a rise, fueled by speculation that the government might intervene to bolster the currency.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 6:51 pm

DVN

Deep-pocketed investors have shown a bearish sentiment towards Devon Energy (NYSE:DVN), with a significant increase in options activity reported by Benzinga. The data reveals 44 unusual options activities, with a majority being puts. The focus is on a price band between $47.5 and $57.5. Despite this bearish outlook, 5 market experts have issued positive ratings for DVN, with a consensus target price of $65.2. The current market status shows DVN's price slightly down at $50.34, with an RSI indicating it may be approaching oversold territory.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 6:47 pm

ASPN

CVNA

EBS

FSLY

VSTS

XPEL

XRAY

Nasdaq surged over 200 points, with significant movements in individual stocks following Q1 results. Dentsply Sirona's shares fell by 5% due to revenue miss. Aspen Aerogels, Emergent BioSolutions, and Carvana saw substantial gains post-earnings, while Fastly, Vestis Corporation, and XPEL experienced sharp declines after reporting disappointing results.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 6:45 pm

FTEC

MGM

MSFT

XLK

The SEC concluded its investigation into potential insider trading by Barry Diller, Alexander von Furstenberg, and David Geffen regarding their investments in Activision Blizzard before its acquisition by Microsoft Corp for $75 billion, finding no grounds for charges. This acquisition, Microsoft's largest, faced global regulatory challenges before completion. The investigation's closure and Microsoft's leading role in the AI revolution, likened to an 'iPhone Moment', could impact investor sentiment and stock performance.

Portfolio Pulse from Anusuya Lahiri

May 02, 2024 | 6:43 pm

CVNA

EBIZ

IBUY

Carvana Co. (NYSE:CVNA) reported strong Q1 FY24 results, surpassing consensus revenue estimates and showing a significant increase in adjusted EBITDA. This performance led to several analysts upgrading their price targets and ratings, with notable mentions from Wedbush, Needham, and JP Morgan. The company anticipates further growth in retail units and adjusted EBITDA. The stock soared by 32.9% following the announcement. Investors can also gain exposure to Carvana through the Global X E-Commerce ETF (NASDAQ:EBIZ) and Amplify Online Retail ETF (NYSE:IBUY).

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 6:42 pm

HSY

Hershey Co. (NYSE:HSY) is set to report Q1 financial results with analysts expecting revenue of $3.11 billion and EPS of $2.76. Rising cocoa prices and competition from MrBeast's Feastables are key concerns. Hershey has a history of beating revenue estimates but faces challenges from higher commodity inflation and market share encroachment by Feastables. Hershey's stock has declined 30% over the last year.

Portfolio Pulse from Chris Katje

May 02, 2024 | 6:38 pm

FSLY

IDGT

SPAM

B of A Securities analyst Tal Liani downgraded Fastly Inc (FSLY) from Buy to Underperform, reducing the price target from $18 to $8, citing near-term risks such as decelerating growth in top customers, share loss in delivery, and limited visibility. Despite a slight beat in quarterly sales and EPS, concerns over future guidance and share loss in the delivery business led to a significant stock price drop. Liani remains positive on Fastly's long-term edge computing prospects but sees it as a 2025 opportunity. Fastly is also part of the IShares U.S. Digital Infrastructure And Real Estate ETF (IDGT) and Themes Cybersecurity ETF (SPAM).

Portfolio Pulse from Anusuya Lahiri

May 02, 2024 | 6:36 pm

AKAM

Dan Hesse, former CEO of Sprint, discussed his leadership and the company's turnaround on the 'Raz Report' podcast. He emphasized the importance of merging cultures post-Sprint and Nextel merger and his focus on accountability. Hesse, now chairman of Akamai Technologies (NASDAQ:AKAM), shared insights from his career journey, from cleaning sewers to leading tech companies.

Portfolio Pulse from Chris Katje

May 02, 2024 | 6:34 pm

DIA

IWM

QQQ

QQQM

SPY

Stock indexes rose after the Federal Reserve announced it would leave interest rates unchanged. Fed Chair Powell also mentioned that a rate hike in the next policy move is unlikely, signaling a potentially dovish stance on future monetary policy.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 6:33 pm

PTON

Peloton Interactive (NASDAQ:PTON) has seen significant options trading activity, with a bullish sentiment from big-money investors. Benzinga's options scanner revealed 8 trades, showing a preference for calls over puts, indicating expectations of a price increase. The trades suggest a target price window of $5.0 to $7.0. Despite this, PTON's stock is currently down by -10.71%, trading at $2.88, with an earnings announcement imminent. Analysts have mixed views, with an average target price of $3.625.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 6:33 pm