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APP

Josh Brown of Ritholtz Wealth Management is considering buying shares of AppLovin Corp (NASDAQ:APP), the best performing stock in the Russell 1000 Index for the year, due to its significant price recovery and strong fundamentals in AI advertising. AppLovin, which went public in April 2021, saw its stock price plummet in 2022 but has rebounded with a 93% increase year-to-date in 2024. Brown is waiting for a pullback to the 50-day moving average in the low $70s before buying. Analysts predict a 27% earnings growth for AppLovin in 2024, highlighting its expanding margins and dominant position in the AI ad space.

Portfolio Pulse from Adam Eckert

April 10, 2024 | 7:40 pm

VERA

Vera Therapeutics shares are trading higher due to rumors of a takeover involving Alpine Immune.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 7:35 pm

BTCUSD

Bitcoin's recent performance is attributed to a surge in spot trading volume, with daily volumes peaking at $14.1 billion in mid-March when Bitcoin reached an all-time high of $73,000. Despite a recent cooldown to $7 billion per day, the demand in spot markets continues to drive price appreciation. The market is experiencing profit-taking, with the weekly sum of realized profit normalized by market cap peaking at 1.8%. The influx of new investors is significant, with the share of wealth held by coins younger than six months increasing dramatically, indicating a balance between long-term holders and new demand. Bitcoin's consolidation phase follows its highest monthly close ever in March, with expectations of rising prices in the next 18 months post-Bitcoin halving.

Portfolio Pulse from Ivan Crnogatić

April 10, 2024 | 7:32 pm

SLB

Financial giants have shown a bullish sentiment towards Schlumberger (NYSE:SLB), with a mix of bullish and bearish options trades. Analysis of options history revealed 9 unusual trades, with a slight majority being bullish. The largest trades include both calls and puts, with a significant total trade price, indicating a price window expectation of $32.5 to $62.5 for SLB. The company, a leading oilfield service firm, is approaching its earnings announcement, with its stock slightly down and potentially nearing overbought status.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 7:31 pm

HIG

Hartford Finl Servs Gr (NYSE:HIG) has delivered an average annual return of 15.86% over the past 15 years, outperforming the market by 3.24% annually. A $1000 investment in HIG 15 years ago would be worth $9,152.35 today, showcasing the impact of compounded returns over time. HIG's current market capitalization stands at $29.14 billion.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 7:30 pm

NXPI

NXP Semiconductors (NASDAQ:NXPI) has delivered an average annual return of 15.44% over the past 10 years, outperforming the market by 4.62%. A $100 investment in NXPI a decade ago would be worth $429.34 today. The company's current market capitalization stands at $62.10 billion.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 7:30 pm

AMPH

LLY

Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) is exploring potential acquisitions in the endocrinology sector, leveraging its commercial infrastructure around Baqsimi, an inhaled glucagon product for severe hypoglycemia. At the Needham Healthcare Conference, the company expressed optimism about Baqsimi's market potential, citing its difficult-to-genericize nature and IP protection until 2036. Baqsimi, competing mainly with Gvoke, is expected to significantly increase its sales from $153 million in 2023 to a peak of $250-270 million. Despite a projected modest increase in product units sold and a slight decrease in prices in 2024 due to higher wholesaler fees paid by Eli Lilly And Co (NYSE:LLY), Amphastar anticipates new opportunities amid potential market re-entries by competitors. With $300 million in cash reserves and strong cash flow, Amphastar is considering debt financing for acquisitions. Needham maintains a Hold rating on AMPH, whose shares recently dropped 2.33% to $39.95.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 7:24 pm

WYNN

Barclays analyst Brandt Montour has maintained an Overweight rating on Wynn Resorts (NASDAQ:WYNN) and increased the price target from $117 to $123.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 7:19 pm

WFC

Deep-pocketed investors show a divided sentiment on Wells Fargo (NYSE:WFC), with unusual options activity indicating both bullish and bearish positions. The activity focuses on a price band between $45.0 and $60.0. The stock is currently trading at $56.66, with an earnings announcement expected in 2 days. This mixed sentiment and upcoming earnings could lead to increased volatility in WFC's stock price.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 7:16 pm

ADBE

Financial analysis reveals a bearish trend in Adobe's (NASDAQ:ADBE) options market, with 59% of trades showing bearish sentiment. The analysis highlighted 32 unusual trades, with a focus on a price range between $165.0 and $740.0 for Adobe. The largest trades included both bullish and bearish sentiments, with significant activity in calls and puts. Adobe's current stock price is down by -1.38%, with an average analyst price target of $602.2. Analyst ratings vary, with price targets ranging from $511 to $660.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 7:16 pm