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Altcoin Sherpa, a cryptocurrency trader, has a bearish outlook on Arbitrum (ARB), predicting its price could drop to $1.20 or lower due to losing the 200-day EMA, a key bearish signal. Despite BitGo's support for Arbitrum and its status as a leading Layer 2 technology for Ethereum, Sherpa's analysis suggests caution for traders and investors. Arbitrum's market share is also declining amidst competition, even as it remains a significant player in Ethereum's Layer 2 ecosystem.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 8:50 pm

BMY

Whales have shown a predominantly bearish stance on Bristol-Myers Squibb (BMY), with options trading data revealing 80% bearish sentiment through puts totaling $525,443 versus calls at $29,800. The targeted price range is between $40.0 to $70.0. BMY's current market position shows a trading volume of 11,739,521, with a price decrease of -2.29%, and an RSI indicating potential oversold status. An earnings announcement is expected in 14 days.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 8:46 pm

COF

IYG

JPM

XLF

Credit card delinquencies in the U.S. hit a 12-year high in Q4 2023, according to the Philadelphia Fed. The report indicates a troubling trend for consumers and credit card issuers, with nearly 3.5% of users carrying balances past due dates. Credit card companies are responding by lowering credit limits, with the median limit for new cards dropping from $3,368 to $3,000. Mastercard and Visa are raising fees to offset losses from an antitrust settlement. The largest credit card issuers, including JPMorgan Chase, Capital One, Citigroup, Discover, Bank of America, and American Express, are likely to be affected. Capital One's planned acquisition of Discover could create the largest credit card company in the U.S. ETFs like iShares US Financial Services ETF and Financial Select Sector SPDR Fund, with significant exposure to these companies, could also be impacted.

Portfolio Pulse from Natan Ponieman

April 11, 2024 | 8:39 pm

TOPS

TOP Ships Inc., a shipping company, has announced its decision to transfer its stock listing from the Nasdaq to the NYSE American exchange. This strategic move is aimed at leveraging the NYSE American's unique market model to enhance the company's visibility and liquidity.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:38 pm

PXMD

PaxMedica (PXMD) shares surged following the announcement of the successful completion of three pivotal registration/validation batches of PAX-101, signaling significant progress in its development pipeline.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:34 pm

MOTS

Motus GI Holdings announced it likely won't maintain its Nasdaq listing and won't appeal the decision. The company is exploring strategic and financing alternatives.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:32 pm

AMAT

Applied Materials (NASDAQ:AMAT) has seen significant options activity, indicating a bullish sentiment among big-money investors, with a split of 60% bullish and 40% bearish. The activity includes 15 uncommon trades, with a focus on calls over puts, suggesting expectations of a price range between $155.0 to $310.0. The largest trades observed show a bullish outlook with varying expiration dates. Applied Materials, a leading semiconductor equipment manufacturer, has seen its stock price increase by 1.78% to $212.98, with an analyst from Cantor Fitzgerald setting a target price of $260.0.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 8:32 pm

ARKO

ATER

BFI

CANG

CNXA

PRTS

In Thursday's after-market session, several consumer discretionary stocks showed notable movements. Aterian, BurgerFi International, Cango, Connexa Sports Techs, CarParts.com, and ARKO were among the gainers, with increases ranging from 2.69% to 5.8%. On the downside, Lixiang Education Hldg, Cricut, JX Luxventure, Naas Technology, SRM Entertainment, and Kaixin Holdings experienced declines between 2.6% and 4.6%.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 8:31 pm

MOTS

NRIX

OTRK

In Thursday's after-market session, several health care stocks showed significant movement. Ontrak, Ocuphire Pharma, and Lyell Immunopharma were among the top gainers, with Ontrak leading at an 18.7% increase. Conversely, Motus GI Holdings, Acorda Therapeutics, and Nurix Therapeutics were the top losers, with Motus GI Holdings experiencing a 32.6% decline. Notably, Nurix Therapeutics' drop was following their Q1 earnings report.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 8:31 pm

AGX

AZUL

CEAD

GWH

KITT

MNTS

NCNC

NMHI

PEGY

SGBX

TGLS

VLRS

In Thursday's after-market session, several industrials stocks saw significant movements. Argan, Pineapple Energy, Safe & Green Holdings, ESS Tech, Controladora Vuela, and Azul were among the gainers, with Argan leading after announcing Q4 earnings. On the downside, Nature's Miracle Holding, CEA Industries, Nauticus Robotics, Tecnoglass, noco-noco, and Momentus experienced declines, with Nature's Miracle Holding and CEA Industries facing the steepest drops.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 8:31 pm