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EQT Corporation and Equinor ASA have entered into an asset sale agreement, where EQT will sell a 40% stake in its non-operated natural gas assets in Northeast Pennsylvania to Equinor for $500 million in cash and additional assets. The deal, expected to close in late Q2 2024, is part of EQT's divestiture program aimed at de-leveraging. The transaction is anticipated to bring over $1.1 billion in value to EQT, including synergies and development plan optimization. Following the news, shares of EQT and Equinor traded lower. Exposure to these stocks can also be gained through Invesco S&P 500 Equal Weight Energy ETF and Horizon Kinetics Energy And Remediation ETF.

Portfolio Pulse from Lekha Gupta

April 15, 2024 | 3:18 pm

LIFW

MSP Recovery shares are trading lower following a report of decreased year-over-year sales results.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:17 pm

DELL

Investors and traders have shown increased interest in Dell Technologies (NYSE:DELL), with a notable uptick in options trading activity. Benzinga's options scanner revealed 14 significant trades, indicating a mixed sentiment with 57% bullish and 42% bearish positions. The trades suggest a target price range of $110 to $150 for DELL over the next three months. The company, a major IT vendor, is currently trading at $118.8, with a volume of 2,511,270 and an RSI suggesting it may be approaching overbought territory. Its next earnings release is expected in 45 days.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 3:16 pm

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Benzinga reported unusual options activity for Wayfair (NYSE:W), with over 13 trades totaling $1,238,483. Investors target a price range of $60-$75 for the next three months. The largest trades include both bullish PUT and bearish CALL options. Wayfair, an e-commerce company, saw its stock price drop by -5.0% to $57.32. Analysts have mixed reviews, with an average target price of $76.4. Wayfair's earnings release is anticipated in 17 days.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 3:16 pm

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CGC

Canopy Growth Corporation's shareholders approved the creation of a new class of exchangeable shares, facilitating the company's entry into the U.S. THC market. This strategic move is part of Canopy's USA strategy, aiming to capitalize on the U.S. cannabis market's expected growth to $50 billion by 2026. The approval allows Canopy USA to proceed with acquisitions of Acreage Holdings, Inc., Mountain High Products, LLC, Wana Wellness, LLC, The Cima Group, LLC, and Lemurian, Inc. CEO David Klein expressed optimism about cannabis being rescheduled to Schedule III, which would enhance cash flow for Canopy's U.S. assets by allowing business deductions.

Portfolio Pulse from Jelena Martinovic

April 15, 2024 | 3:15 pm

VIRX

Viracta Therapeutics announced topline results from Stage 1 of the pivotal Phase 2 NAVAL-1 trial for Epstein-Barr virus-positive peripheral T-cell lymphoma, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:12 pm

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WFC

First quarter bank earnings for 2024 showed strong results from Wells Fargo, JPMorgan Chase, Citigroup, and Goldman Sachs, with most surpassing analyst estimates. Wells Fargo and Citigroup reported slight revenue increases and net income declines, while JPMorgan and Goldman Sachs saw significant profit and revenue growth, partly due to higher interest rates, larger loan balances, and a rebound in global M&A activity. Despite the positive results, banks provided conservative guidance due to potential macroeconomic and geopolitical uncertainties.

Portfolio Pulse from Upwallstreet

April 15, 2024 | 3:11 pm

ETHUSD

Cryptocurrency trader Alex Krüger predicts Ethereum (ETH) will reach new all-time highs, citing its utility for staking despite its current underperformance. He advises against maximalism and suggests portfolio rebalancing during market crashes. The approval of Hong Kong's first spot Bitcoin and Ethereum ETFs marks a significant step towards mainstream crypto investment in Asia, potentially increasing adoption and liquidity.

Portfolio Pulse from Ivan Crnogatić

April 15, 2024 | 3:11 pm

DJT

The criminal trial of former President Donald Trump, focusing on alleged hush money payments to Stormy Daniels ahead of the 2016 election, begins in New York. This marks the first criminal trial for a former U.S. president and could last six to eight weeks. Trump, who has pleaded not guilty, faces a maximum penalty of four years in prison for each charge. Key witnesses include former Trump lawyer Michael Cohen and Stormy Daniels. The trial's outcome and potential jail time for Trump could impact his 2024 presidential campaign. Trump Media & Technology Group shares have dropped 12% to $28.50 amid the trial's start.

Portfolio Pulse from Chris Katje

April 15, 2024 | 3:04 pm

AVAXUSD

Avalanche (CRYPTO: AVAX) saw a price increase of 4.18% in the last 24 hours to $36.91, despite a 24% decrease over the past week from $49.68. The trading volume has increased by 75% over the past week, while the circulating supply decreased by 0.11% to 377.91 million, representing 52.49% of its max supply. AVAX's market cap ranks #12 at $14.07 billion.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 3:03 pm