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AMID

CDW

CSMD

CDW Corp reported disappointing fiscal first-quarter 2024 results with a 4.5% Y/Y decline in net sales to $4.87 billion, missing the consensus of $5.00 billion. Adjusted EPS was $1.92, below the consensus of $2.15. Sales declined across Total Corporate, Total Small Business, and Total Public segments, with a notable 10.4% Y/Y decrease in Education customer sales. Despite these challenges, CDW declared a quarterly cash dividend of 62 cents per share and remains optimistic about exceeding US IT market growth. CDW shares fell 10.2%, but the stock has gained 42% in the last 12 months. Exposure to CDW can also be gained through Argent Mid Cap ETF (AMID) and Professionally Managed Portfolios Congress SMid Growth ETF (CSMD).

Portfolio Pulse from Anusuya Lahiri

May 01, 2024 | 4:47 pm

TMUS

T-Mobile US (NASDAQ:TMUS) has seen significant options trading activity, with a bearish sentiment prevailing among investors. Analysis of 8 trades revealed 62% bearish and 12% bullish expectations. The trades include 2 puts and 6 calls, with a focus on strike prices between $150.0 and $190.0. The company, a major wireless carrier in the U.S., is currently trading at $166.02, up 1.13%, with an RSI suggesting it may be approaching overbought territory. Analysts have set an average target price of $191.25, with ratings ranging from Buy to Outperform.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 4:46 pm

OXY

Occidental Petroleum (NYSE:OXY) has seen a significant amount of options trading activity, indicating a mixed sentiment among big-money investors, with 41% bullish and 52% bearish. The trading volume and open interest analysis suggest a price window of $60.0 to $80.0. Notable options activity includes both puts and calls with varying sentiments and strike prices. The company's current market position shows a slight decrease in stock price, with an earnings announcement expected soon. Analysts have mixed ratings on OXY, with target prices ranging from $70 to $90.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 4:46 pm

VRT

Financial analysis reveals a bearish sentiment among big money traders on Vertiv Hldgs (NYSE:VRT), with a significant portion of options trades indicating expectations for the stock's price movement. Despite the bearish options activity, professional analysts have set target prices ranging from $90 to $102, suggesting a potential upside. Vertiv Hldgs, a company providing critical infrastructure solutions, is currently trading at $87.92, down 5.46%, with an RSI indicating it may be approaching overbought territory. The company's earnings release is anticipated in 91 days.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 4:46 pm

ACB

CGC

TLRY

Cannabis stocks Canopy Growth Corporation (CGC), Aurora Cannabis, Inc. (ACB), and Tilray Brands, Inc. (TLRY) experienced a decline Wednesday after a brief rally due to reports that the DEA will reschedule marijuana. The stocks surged following the DEA's proposal to reclassify marijuana from a Schedule I to a Schedule III substance, indicating recognized medical uses and lower abuse potential. However, the proposal is pending review and public comment. CGC, ACB, and TLRY stocks are down significantly from Tuesday's highs.

Portfolio Pulse from Erica Kollmann

May 01, 2024 | 4:44 pm

BNO

USO

Oil prices have declined due to a significant increase in US crude oil inventories, impacting related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 4:44 pm

APA

BTE

ENLC

EQT

HAL

MRO

OXY

PSX

TTI

VLO

Shares of oil and gas companies are trading lower due to a decline in oil prices following an increase in US crude inventories.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 4:44 pm

AMD

NVDA

AMD reported Q1 earnings and Q2 guidance that surpassed analyst estimates but still saw its stock price fall. Despite achieving over 1,000% growth in AI GPU sales and solid performance in server and MI300 segments, concerns over gaming segment weakness, competition with Nvidia, and high expectations for AI revenue growth have impacted investor sentiment. Analysts have adjusted their price targets accordingly, with a general consensus on AMD's strong position in AI and server markets but cautioning about its valuation and competition.

Portfolio Pulse from Chris Katje

May 01, 2024 | 4:39 pm

AXP

A significant amount of unusual options activity on American Express (NYSE:AXP) has been detected, indicating a bullish sentiment among big-money investors. Benzinga's options scanner revealed 13 uncommon trades, with a split sentiment of 53% bullish and 38% bearish. The trades suggest a targeted price range for AXP between $190.0 to $240.0. Notable options activity includes both calls and puts with varying sentiments and strike prices. American Express, a global financial institution, is currently trading at $232.47, down by -0.67%, with an RSI suggesting it may be approaching overbought territory. The company's next earnings release is expected in 79 days.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 4:33 pm

DIS

Recent analysis of Walt Disney (NYSE:DIS) options activity reveals a bearish sentiment among whales, with a higher volume of bearish trades compared to bullish ones. The options trades target a price range of $65.0 to $150.0 for DIS over the next three months. Despite this, professional analysts have set an average price target of $137.6 for DIS, with ratings ranging from Overweight to Buy. The current trading volume of DIS is 1,671,811, with a slight decrease in price by -0.16%, indicating potential oversold conditions. The next earnings report is expected in 6 days.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 4:33 pm