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Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust</h3>
SPY (ARCA: SPY) &nbsp;is currently trading around the key level of 581.97. For bulls to take control, we need to see a push above 583.18, with this level acting as strong support during regular trading hours. If buyers step in and maintain momentum, we&rsquo;re looking for a move higher to 585.37, followed by a potential test of 587.31. A strong buying session could push the price action up to the bull target for the day at 589.71.
However, if 581.97 fails as support, the bears are likely to challenge 580.67. A sustained break below this level could open the door for a move down to 579.12, with the next major level of support at 577.87. If selling pressure intensifies, we could see SPY fall to the low bear target of 576.62 by the end of the session.
<h3>Invesco QQQ Trust Series 1</h3>
QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>)&nbsp;is auctioning around the key level of 501.07. For bulls to take charge, we&rsquo;re looking for a rally above this level, with buyers pushing towards 502.65. A successful hold here could propel the price towards 504.44, with continued strength potentially leading to a test of 506.68. If the momentum stays bullish throughout the session, the high target for the day is 509.87.
On the downside, if 501.07 fails as support, the bears could look to capitalize by pushing the price down to 499.44. Further selling pressure might bring the Qs to 498.37, with a break below this level targeting 496.94. If the auction remains weak, the final bearish target for the day is 495.35.
<h3>Apple Inc. </h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is currently auctioning near 233.28, a key support level for bulls. If buyers can hold this line, we should see a move toward 234.20, followed by a potential rally to 234.97. Continued bullish action could lead to a further test higher, with the high target on the day being 235.74.
If 233.28 doesn&#39;t hold as support, we expect the bears to bring the price down to 231.76. Continued selling pressure could target 230.25, with the potential for a further drop to 229.03. If sellers remain in control, Apple could reach its low bear target of 227.82.
<h3>Microsoft Corp.</h3>
Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is trading around the key level of 441.34. For bulls, a solid hold above this level could spark a rally to 442.95, with further upside momentum pushing the price to 444.95. If buyers dominate the session, we might see Microsoft test its high bull target at 446.33.
Should 441.34 fail to hold, the bears are likely to take charge, with an initial test at 438.72. A break below this level could push the price down to 437.10, with additional selling targeting 435.79. The low bear target for Microsoft today is 434.49 if the downward pressure continues.
<h3>NVIDIA Corporation</h3>
NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is auctioning around 140.28, which is a critical support level for bulls to maintain. A successful push above this level could lead to a test of 141.21, with potential buying pressure driving the price up to 142.35. If bullish momentum persists, we may see a rally towards the high target for the day at 145.61.
On the flip side, if 140.28 doesn&rsquo;t hold, the bears could seize the opportunity to push the price lower to 139.42. A continued sell-off might test the 138.55 level, with further weakness leading to a low target for the day at 136.98.
<h3>Alphabet Inc Class A </h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is currently trading near the key level of 180.46. If bulls can maintain control above this level, we could see a move towards 181.77, with further upside potential leading to a test of 183.40. Continued strength in the session could drive the price up to the high bull target of 184.52.
In contrast, if 180.46 fails to hold as support, bears might drive the price lower to 179.15. If the selling persists, we could see a move down to 177.28, with the final bear target for the day being 176.23.
<h3>Meta Platforms Inc</h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is auctioning around the important level of 604.50. For bulls, maintaining this level as support is crucial for a potential rally to 609.30. If buying momentum holds, the price could push further to 615.65, with the high bull target at 622.01 being in reach if bullish sentiment prevails.
Should 604.50 fail, however, the bears will likely push the price lower, initially targeting 598.17. A break below this level could bring further downside to 591.29, and if selling pressure continues, the low bear target for the day sits at 585.73.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading near 262.68. Bulls need to see this level hold for a potential rally towards 264.46. If the buying momentum continues, we may see the price push up to 266.83, with a further test of 269.48 likely if the market remains strong. The high bull target for Tesla today is 272.42 if buyers stay in control.
However, if 262.68 fails to hold, the bears may take over, driving the price down to 259.81. Continued selling pressure could bring 257.56 into play, and if this level breaks, Tesla may reach the low bear target of 256.34.
Final Word: Today&rsquo;s session is filled with significant economic reports that could influence market direction. At 8:15 AM ET, we have the ADP Non-Farm Employment Change, followed by the Q3 Advance Annualized GDP and PCE data at 8:30 AM ET. These data points will provide insight into the broader economic health and inflation trends. Pending Home Sales data for September will be released at 10:00 AM ET, offering a snapshot of the housing market&#39;s strength.
There are no scheduled Fed speakers today, allowing market participants to focus solely on economic data. The GDP and PCE figures could be pivotal in shaping expectations for future Fed policy decisions. Given the weight of today&rsquo;s reports, we can expect heightened volatility, especially as traders adjust their positions based on these releases. Be sure to manage risk carefully, and stay alert to any rapid changes in market sentiment. Good luck, and trade safely!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

AAPL

GOOGL

MSFT

NVDA

TSLA

Market Clubhouse Morning Memo - October 30th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) analysts make a case for the company to gain market share in several sectors as it works to compete against NVIDIA and grow its AI business, as evidenced in <a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-" target="_blank" rel="noopener">third-quarter results.</a><a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-"> </a>
The AMD Analysts: 
<ul>
<li>KeyBanc analyst John Vinh reiterated an Overweight rating with a $220 price target.</li>
<li>Cantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating with a $180 price target.</li>
<li>Oppenheimer analyst Rick Schafer maintained a Perform rating with no price target.</li>
<li>Piper Sandler analyst Harsh Kumar reiterated an Overweight rating and lowered the price target from $200 to $180.</li>
<li>Roth MKM analyst Suji Desilva maintained a Buy rating with a $200 price target.</li>
<li>Truist analyst William Stein maintained a Hold rating with a $156 price target.</li>
<li>Morgan Stanley analyst Joseph Moore maintained an Equal-weight rating and lowered the price target from $178 to $169.</li>
<li>Goldman Sachs analyst Toshiya Hari maintained a Buy rating with a $175 price target.</li>
<li>Northland Capital analyst Gus Richard maintained an Outperform rating with a $175 price target.</li>
<li>Rosenblatt analyst Hans Mosesmann reiterated a Buy rating with a $250 price target.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41579487/amd-q3-earnings-preview-can-ai-server-gains-help-narrow-the-semiconductor-gap-with-">AMD Q3 Earnings Preview: Can AI, Server Gains Help Narrow The Semiconductor Gap With Nvidia?</a>
KeyBanc on AMD: Data center segment revenue, up 122% year over year, was part of what Vinh called AMD&#8217;s "solid results" in the third quarter.
The analyst said MI300&#8217;s outlook for 2024 to $5 billion was positive, but the company's fourth-quarter guidance came in below expectations.
"While we are disappointed in 4Q guidance, we're encouraged by the strong results in Data Center across MI300 and server CPU," Vinh said.
Vinh said the strong ramp of MI300 shipments could expand customer adoption in the cloud and AI sectors.
Cantor Fitzgerald on AMD: The company's quarterly results were "disappointing" for Muse.
The analyst said the key takeaway was MI300 doing well.
"We have continued to point to $12B as the magic MI300 target to support $6.00 in earnings power," Muse said.
The analyst believes the company will reach the figure, but the question is whether it will happen in 2025 or 2026.
"In the interim, we view shares largely range-bound in the $150-$170 territory until we gain line of sight to this earnings power."
Oppenheimer on AMD: The company's data center and AI segments were positives in the quarter for Schafer.
"Mgmt's built an impressive AI franchise in short order. From nothing 12 months ago, AI is expected to contribute &gt;$5B this year," Schafer said.
The analyst said investor expectations are out of reach and the bar could be too high.
"We expect Street numbers to come down Wednesday and remain sidelined until the path to sustained upside becomes clearer."
Piper Sandler on AMD: The quarterly results show GPU execution but come with disappointing guidance, Kumar said in a new investor note.
"The highlight of the call was that 2024 GPU revenues are expected to be above $5B, which had been the benchmark for investors," Kumar said.
The analyst said AMD's GPUs and client and server businesses could stand out in the future, while gaming and embedded will be headwinds.
"Overall, we continue to believe AMD is executing flawlessly on its GPU roadmap."
Roth MKM on AMD: The company's data center business could have an upside to continue momentum, Desilva said in a new investor note.
"We are encouraged that the company again raised its CY24 AI GPU revenue expectation with a healthy growth outlook into CY25," Desilva said.
The analyst said AI revenue continues to show strength for the company.
Truist on AMD: The stock price could need a modest "reset" after the disappointing fourth-quarter guidance, Stein said in a new investor note.
The analyst said caution should be exercised given AMD's position in AI compared to NVIDIA Corporation and the company's X86 market, which is under pressure from competition.
Morgan Stanley on AMD: A solid quarter from AMD might not be enough to offset a high bar for AI companies, Moore said in a new investor note.
"We still see 2024-25 as investment years for the AI opportunity, and think revenue/earnings expectations are still too high," Moore said.
The analyst said the risk reward for the stock remains balanced over the short term, with the company's AI product roadmap being key going forward.
"We have also highlighted that expectations are even higher, and unless the view is that AMD can take market share in CY25, which we do not forecast, there won't likely be much sequential growth through the year."
Goldman Sachs on AMD: The long-term AI growth opportunity remains for AMD, Hari said in a new investor note.
"We foresee share gains in traditional compute and the company's participation in AI compute driving revenue growth, margin expansion and earnings accretion over the medium to long-run in excess of the industry average," Hari said.
The analyst said they were encouraged by the company's progress in improving hardware and software offerings.
Hari said future data could show that AMD is taking "meaningful share" in the enterprise market.
Northland on AMD: The company could be narrowing the gap with Nvidia, Richard said in a new investor note.
"AMD is #2 in Data Center AI and that is not a bad place to be," Richard said.
The analyst said investors should consider buying the stock on Wednesday's pullback.
Richard said AMD can continue to grow market share in segments like data center over time.
Rosenblatt on AMD: The company showed market share gains in the quarter and should continue to gain share going forward, Mosesmann said in a new investor note.
"At a high level, Lisa Su indicated an increasingly better competitive dynamic compared to the Nvidia H-series and B-series in 2025, as indicated by significant expansion in customer engagement and milestone accomplishments," Mosesmann said.
AMD Price Action: AMD stock is down 9.8% to $149.96 at the time of publication Wednesday, versus a 52-week trading range of $94.07 to $227.30. AMD stock is up 8.5% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41586844/amd-q3-earnings-on-deck-mixed-signals-on-charts-as-ai-server-gains-take-focus">AMD Q3 Earnings On Deck: Mixed Signals On Charts As AI, Server Gains Take Focus</a></li>
</ul>
Photo: jamesonwu1972/Shutterstock.com

Price Target

Reiteration

Analyst Ratings

Tech

Trading Ideas

AMD Stock Drops On Q4 Outlook As 10 Analysts Highlight 'Long-Term AI Growth Opportunity,' Nvidia Rivalry

Guggenheim analyst Michael Schmidt maintains Exelixis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) with a Buy and raises the price target from $32 to $33.

News

EXEL

Guggenheim Maintains Buy on Exelixis, Raises Price Target to $33

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-30_07h53_04.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Strong ADP Data</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-tech-earnings-nvidia-software-amd-mc-10302024">click here </a>for an enlarged chart of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of AMD stock is being used to illustrate the point.</li>
<li>The chart shows the momo crowd buying AMD stock yesterday ahead of the earnings release.</li>
<li>The chart shows when earnings were released.</li>
<li>The chart shows the drop in AMD stock after earnings.</li>
<li>The chart shows the proprietary Arora Report VUD indicator changed to orange when earnings were released and continues to be orange today in the premarket.&nbsp; This indicates a net supply of AMD stock.</li>
<li>AMD reported earnings inline with the consensus and provided decent guidance.&nbsp; Why did the stock fall?&nbsp; The reason is that the whisper numbers for AI GPU guidance were approaching $6B.&nbsp; AMD guided above $5B for 2024 – this was inline with consensus.&nbsp; As we have been sharing with you, stocks move based on the difference between reported numbers and whisper numbers.</li>
<li>The reason that AMD was not able to meet the whisper numbers is that even though AMD chips for AI are excellent, AMD does not have the software and the whole system like NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).&nbsp; This limits AMD's market even though AMD is offering cheaper price points compared to Nvidia.&nbsp; AMD has recently bought a systems company in an attempt to catch up to NVDA.&nbsp; However, in The Arora Report analysis, it will take a long time for AMD to catch up with NVDA.&nbsp; Nvidia's CUDA is a parallel computing platform and programming model.&nbsp; Thousands of developers have been using CUDA to harness the power of AI for years.</li>
<li>Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) reported earnings yesterday after the close.&nbsp; Alphabet earnings show data center growth.&nbsp; Data center growth means AI growth.&nbsp; However, in The Arora Report analysis, there is risk in GOOG stock because Google has over 90% of the search market.&nbsp; It is hard to see Google gaining share from here.&nbsp; Even a drop of a few percentage points will substantially hit earnings.</li>
<li>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) earnings are ahead after the close.&nbsp; In The Arora Report analysis, stocks will move based not only on the earnings but how well the companies are able to monetize AI.</li>
<li>The Arora Report shared early on that AI was real and a fortune was to be made from AI.&nbsp; We have also been sharing with you that it is important to develop deep knowledge because at times it will be treacherous.&nbsp; We have illustrated the treacherousness of following the momo crowd in AI with the example of Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>).&nbsp; When everyone was bullish and SMCI was trading above $120, The Arora Report call was that SMCI was worth only $44 &#8211; $48 at best.&nbsp; SMCI is falling about 33% to about $32 as of this writing in the premarket on the news that its independent auditor resigned.</li>
<li>Just released GDP data shows that the economy is strong even though the numbers are less than the consensus.&nbsp; GDP is a lagging indicator.&nbsp; The Arora Report system focuses on leading indicators.&nbsp; Here are the details of the GDP data:
<ul>
<li>Q3 GDP-Adv came at 2.8% vs. 3.0% consensus.</li>
<li>Q3 Chain Deflator-Adv came at 1.8% vs. 2.3% consensus.</li>
</ul>
</li>
<li>Automatic Data Processing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) data indicates a strong jobs picture.&nbsp; ADP is the largest payroll processor in the country and uses its data to give an advanced glimpse of the jobs picture ahead of the official jobs report that will be released on Friday at 8:30am ET.&nbsp; In The Arora Report analysis, if the official jobs report also shows a strong jobs picture, it will decrease the probability that the Fed will cut interest rates at the next meeting.&nbsp;&nbsp;
<ul>
<li>ADP employment change came at 223K vs. 105K consensus.</li>
</ul>
</li>
<li>ADP data is one more data point that has gone against the reason the Fed gave to cut interest rates by 50 bps in September.&nbsp; As we have been writing, almost all of the data has gone against the Fed's reasoning for cutting rates by 50 bps.&nbsp;&nbsp;</li>
<li>In a major setback, Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) missed the earnings consensus.&nbsp; LLY stock has fallen about 10% as of this writing in the premarket.&nbsp; In sympathy, the stock of Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) is also falling.&nbsp; LLY and NVO stocks have been riding high on weight loss drugs.&nbsp; As full disclosure, LLY stock is in The Arora Report&#8217;s ZYX Buy Core Model Portfolio, long from $318.45.&nbsp; As of this writing, LLY stock is trading at $807.</li>
<li>Jobless claims, personal income and spending, and &nbsp;Fed&#8217;s favorite inflation gauge PCE will all be released tomorrow at 8:30am ET.</li>
</ul>
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), MSFT, GOOG, and META.
In the early trade, money flows are negative in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and NVDA.
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Market Summary

Markets

General

$BTC

AMZN

GOOG

SMCI

AMD Earnings Show Power Of Nvidia Software, ADP Data Defies Expectations

WIIM

BMRA

Biomerica shares are trading higher after the company announced the direct-to-consumer availability of inFoods tests on inFoods sites.

Guggenheim analyst Robert Drbul maintains Crocs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>) with a Buy and lowers the price target from $182 to $155.

CROX

Guggenheim Maintains Buy on Crocs, Lowers Price Target to $155

The German economy faces strong headwinds despite data showing that Europe's largest exporter of goods returned to economic growth in the third quarter, beating analysts' estimates.&nbsp;
The economy <a target="_blank" rel="noreferrer noopener" href="https://www.destatis.de/EN/Press/2024/10/PE24_408_811.html">grew by 0.2% quarter-on-quarter in Q3</a>, from an initial -0.1% in Q2, the Federal Statistical Office (Destatis) reported today. But it shrank by 0.2% on the year in Q3 after price and calendar adjustments, Destatis said. Analysts had a Q3 forecast of -0.1%.
<figure class="wp-block-image is-resized"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feb9b8750-4d3b-4cfe-8f8d-aee1e6cafdcc_904x410.png" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feb9b8750-4d3b-4cfe-8f8d-aee1e6cafdcc_904x410.png" alt="" style="width:624px" /></a><figcaption class="wp-element-caption">German GDP Data, Source: <a target="_blank" rel="noreferrer noopener" href="https://www.destatis.de/EN/Press/2024/10/PE24_408_811.html">Destatis</a></figcaption></figure>
German inflation accelerated to 2% in October from 1.6% in September, or well <a href="https://tradingeconomics.com/germany/calendar">above the expected 1.8%</a>, Destatis <a href="https://www.destatis.de/EN/Press/2024/10/PE24_409_611.html" target="_blank" rel="noreferrer noopener">data showed today</a>. Food prices, which accelerated 2.3% in October from 1.6% in September, and higher energy prices drove inflation higher.&nbsp;
The German DAX40 declined 1.1% today, closing at 19,266.
<h3 class="wp-block-heading">German Economy Remains Stuck In Stagflation</h3>
Though positive, the German economy, Europe's largest, faces considerable challenges due to both cyclical and structural headwinds.
"The German economy avoided a technical recession in the third quarter, showing unexpected growth," <a href="https://think.ing.com/" target="_blank" rel="noreferrer noopener">ING Think</a> said. "However, <a href="https://think.ing.com/snaps/german-gdp-q3-24/" target="_blank" rel="noreferrer noopener">this does not change the fact that the</a> economy remains stuck in stagnation.&#8221;&nbsp;
Germany revised its second quarter's contraction to -0.3% quarter-on-quarter from the initial -0.1%. This "somewhat dampened" the "positive surprise," ING Think said. &nbsp;
The rise in GDP growth coincided with an improvement in consumer sentiment in November, though the level still remains low, a survey showed on Tuesday. The Gfk German Consumer Climate Index <a target="_blank" rel="noreferrer noopener" href="https://nielseniq.com/global/en/news-center/2024/germany-consumer-climate-climbs-to-its-highest-level-since-april-2022/">is forecast to rise by 2.7 points to -18.3 points</a> in November compared to the previous month.
<figure class="wp-block-image is-resized"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa79bcbcf-0c1a-4441-a63a-3f2a92320c93_1455x831.png" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa79bcbcf-0c1a-4441-a63a-3f2a92320c93_1455x831.png" alt="" style="width:624px" /></a><figcaption class="wp-element-caption">German Consumer Climate, Source: <a href="https://nielseniq.com/global/en/news-center/2024/germany-consumer-climate-climbs-to-its-highest-level-since-april-2022/" target="_blank" rel="noreferrer noopener">Nielsen</a></figcaption></figure>
<h3 class="wp-block-heading">German Economy Hurt By Crises, Wars</h3>
Although this was the highest level in Gfk German Consumer Climate Index since April 2022, Germans are "pessimistic about overall economic development," the survey said.
"The <a href="https://nielseniq.com/global/en/news-center/2024/germany-consumer-climate-climbs-to-its-highest-level-since-april-2022/">uncertainty caused by crises</a>, wars and rising prices is still very much present," Rolf Bürkl, consumer expert at the Nuremberg Institute for Market Decisions, said.&nbsp;
"Reports of a rising number of company insolvencies and plans to cut jobs or relocate production abroad are also preventing a more significant recovery in consumer sentiment," Bürkl added.
 Volkswagen (OTC:<a href="https://www.benzinga.com/quote/VWAGY">VWAGY</a>), for example, announced on Monday the<a href="https://www.reuters.com/business/autos-transportation/volkswagen-plans-major-layoffs-shut-least-three-german-plants-works-council-head-2024-10-28/" target="_blank" rel="noreferrer noopener"> closure of three German factories</a> and potential mass layoffs. <a href="https://europeancapitalinsights.substack.com/p/volkswagen-considers-first-ever-closure?r=3nmatg" target="_blank" rel="noreferrer noopener">High operating costs, a weak electric vehicle lineup</a>, and diminishing demand in key markets drove the decision.&nbsp;
The group is closing factories to cut costs while a looming trade war with China weighs on sentiment after the European Union <a href="https://europeancapitalinsights.substack.com/p/europe-carmakers-criticize-eus-chinese?r=3nmatg">(EU) imposed tariffs on electric vehicles</a>.&nbsp;
<h3 class="wp-block-heading">Volkswagen's Costs Rise, As Layoffs Loom</h3>
Facing pressure from intense competition and rising energy and labor expenses, <a href="https://europeancapitalinsights.substack.com/publish/posts/detail/148759456?referrer=%2Fpublish%2Fposts">Volkswagen has taken unprecedented steps to close plants</a> on German soil. This is the first time it had done so in the company's 87-year history.
Volkswagen brand <a target="_blank" rel="noreferrer noopener" href="https://www.volkswagen-newsroom.com/en/curriculum-vitae-thomas-schaefer-7819">CEO Thomas Schäfer </a>pointed out the <a target="_blank" rel="noreferrer noopener" href="https://www.bloomberg.com/news/articles/2024-10-28/vw-eyes-closing-three-german-factories-in-cost-cutting-push">problems in domestic production</a>, as plants operate 25-50% above the firm's target expenses. "We are not productive enough at our German locations," Schäfer stated, stressing the urgent need for cost cuts.
Meanwhile, Volkswagen's works council head Daniela Cavallo called the plan "a starvation, a weakening in installments" that threatens "tens of thousands of jobs in Germany."
"Management is absolutely serious about all this," she said. "This is not saber-rattling in the collective bargaining round."
<figure class="wp-block-image is-resized"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F07982057-7058-42bb-947f-2d5e49152da6_623x457.png" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F07982057-7058-42bb-947f-2d5e49152da6_623x457.png" alt="" style="width:624px" /></a></figure>
Volkswagen car sales in Europe, Source: ACEA
<h3 class="wp-block-heading">German Economy Will Feel Strain Of Plant Closures</h3>
The closures are poised to further strain the German economy, sparking concerns about the long-term future of its industrial economy. GDP <a href="https://europeancapitalinsights.substack.com/p/german-recession-fears-rise-after?r=3nmatg" target="_blank" rel="noreferrer noopener">is already forecasted to contract for a second consecutive year</a>.
Volkswagen's main restructuring plan sees salary freezes for 2025 and 2026 and a reduction in existing salary levels by at least 10%. It will abolish one-off payments for workers who have stayed at the company for 25 and 35 years. This could <a target="_blank" rel="noreferrer noopener" href="https://www.bloomberg.com/news/articles/2024-10-28/vw-eyes-closing-three-german-factories-in-cost-cutting-push">impact up to 140,000 workers</a>.
In response, workers protest the proposed changes in Wolfsburg, home to the company's headquarters. The powerful IG Metall union has <a target="_blank" rel="noreferrer noopener" href="https://www.industriall-union.org/ig-metall-members-commence-warning-strikes">threatened strikes</a> by December if no agreement is reached.
VW (OTCPK: VLKAF) shares fell to €88.92, reaching the second-lowest point in 2024, far below the intra-year peak of €123.30.
<h3 class="wp-block-heading">EU Tariffs On China's EVs Will Hurt German Economy</h3>
As Volkswagen shutters plants, the EU has introduced <a target="_blank" rel="noreferrer noopener" href="https://www.nytimes.com/2024/10/30/business/european-union-china-electric-vehicle-tariffs.html">new tariffs</a> on electric vehicles (EVs) imported from China. This will escalate trade tensions over Chinese subsidies, which may have a significant impact on German car manufacturers.&nbsp;
As of October 30, the EU introduced tariffs ranging between 7.8% and 35.3% on Chinese EV makers. This is in addition to the existing 10% import duty, with the highest surcharge applied to vehicles from Chinese state-owned automaker SAIC.&nbsp;
The Chinese Ministry of Commerce dismissed the tariffs as "trade protectionism" and has vowed to safeguard Chinese businesses' interests. It <a target="_blank" rel="noreferrer noopener" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/103024-china-files-wto-dispute-against-eus-countervailing-duties-on-imports-of-chinese-evs">lodged a complaint</a> with the World Trade Organization.
Volkswagen's financial chief, <a target="_blank" rel="noreferrer noopener" href="https://www.volkswagen-group.com/en/images/detail/arno-antlitz-cfo-and-coo-volkswagen-group-and-oliver-blume-ceo-volkswagen-group-81417">Arno Antlitz</a>, cautioned that "under a tariffs regime, an industry only loses time." He warned that Chinese automakers might still access the market through European-based production.
This tactic is underway, with Chinese automakers BYD and Leapmotor s<a target="_blank" rel="noreferrer noopener" href="https://www.nytimes.com/2024/09/19/business/china-automakers-eu-tariffs.html#:~:text=In%20July%2C%20Turkey%20announced%20that,be%20subject%20to%20the%20tariffs.">etting up production facilities </a>in Europe and Turkey to sidestep tariffs.&nbsp;
"In a world in which, at least in manufacturing, China has become the new Germany,' Germany's old macro business model of cheap energy and easily accessible large export markets is no longer working," ING Think said. "Looking ahead, there is very little reason to expect any imminent relief."

Eurozone

Economics

German Economy Faces Strong Headwinds Despite Return To Growth

Daiwa Capital analyst Dennis Ip upgrades GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) from Outperform to Buy and raises the price target from $245 to $336.

Upgrades

Daiwa Capital Upgrades GE Vernova to Buy, Raises Price Target to $336

VF Corp shares are trading higher after the company announced financial targets at its investor day event.

GPRO

GoPro shares are trading lower. The company announced it approved a restructuring plan which includes a 26% workforce reduction.

Hims & Hers Health, Inc. Class A Common Stock

HIMS

Hims & Hers Health shares are trading lower in possible reaction to Ozempic and Wegovy being listed as available by the FDA.

Enovix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) shares are trading higher Wednesday following the company's better-than-expected third-quarter results. Enovix also announced a new development agreement with a leading smartphone OEM. Here&#8217;s what <a href="https://www.benzinga.com/news/earnings/24/10/41613274/enovix-stock-is-surging-after-the-bell-whats-going-on">you need to know.</a>
The Details: For the third quarter, Enovix reported revenue of $4.32 million, above estimates of $4.11 million. The company posted a loss of 17 cents per share, beating the estimated loss of 20 cents per share, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Enovix CEO Raj Talluri highlighted the company&#8217;s progress, noting that Fab2 is now operational and shipping customer samples. The company&#8217;s key goals for the rest of 2024 include completing SAT for its High-Volume Line and delivering EX-2M samples.
For the fourth quarter, Enovix expects revenue between $8 million and $10 million, versus estimates of $7.38 million. The company expects an adjusted loss per share of 15 to 21 cents.
What Else: In addition to the quarterly results, Enovix announced a development agreement with "one of the leading global smartphone OEMs with top five market share in China."
Enovix said it will develop a fully active silicon anode battery tailored for specific smartphone models under the new agreement, targeting a launch in the fourth quarter of 2025. Enovix said the agreement marks the company&#8217;s second deal with leading smartphone OEMs.
"The company now has agreements with two of the leading smartphone OEMs and has further sales momentum building in IoT and EV markets," the company said.
Benchmark analyst Michael Legg reiterated Enovix with a Buy and maintained a price target of $25 on Wednesday. Cantor Fitzgerald analyst Derek Soderberg reiterated an <a href="https://www.benzinga.com/analyst-stock-ratings">Overweight rating</a> and price target of $30.
ENVX Price Action: Enovix shares were up 5.41% at $11.21 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga pro.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41633104/alphabet-to-rally-around-33-here-are-10-top-analyst-forecasts-for-wednesday">Alphabet To Rally Around 33%? Here Are 10 Top Analyst Forecasts For Wednesday</a></li>
</ul>
Image Via Shutterstock.

Earnings

Global

Movers

ENVX

What's Going On With Enovix Stock Today?

BTIG analyst Carl Reichardt maintains D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a Buy and lowers the price target from $190 to $186.

BTIG Maintains Buy on D.R. Horton, Lowers Price Target to $186

Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) will likely highlight the performance of its iPhone 16 and upcoming product releases when the company reports fourth-quarter financial results <a href="https://www.benzinga.com/earnings">after market close Thursday. </a>
Earnings Estimates: Analysts expect the Cupertino, California-based company to report fourth-quarter revenue of $94.56 billion, up from $89.5 billion in last year's fourth quarter, according to data <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent103024&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>
Apple has beaten analyst estimates for revenue in six straight quarters and nine of the last 10 quarters overall.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41591063/apple-will-be-the-first-to-hit-4-trillion-market-cap-milestone-says-dan-ives-as-hundreds-of-apps">Apple &#8216;Will Be The First To Hit&#8217; $4 Trillion Market Cap Milestone, Says Dan Ives As Hundreds Of Apps Will Be Built On AI Feature</a>
Analysts expect the company to report fourth-quarter earnings per share of $1.53, up from $1.46 reported in last year's fourth quarter. The company has beaten analyst estimates for earnings per share in six straight quarters and nine of the last 10 quarters overall.
What Analysts Are Saying: The iPhone 16 will be one of the key items analysts are watching in the earnings report and conference call.
"iPhone 16 demand has been relatively stable year-over-year and better-than-feared given more cautious data points around shorter lead-times relative to year-ago and production cuts," Goldman Sachs analyst Michael Ng <a href="https://www.benzinga.com/news/earnings/24/10/41554508/apple-q4-earnings-preview-goldman-sachs-analyst-anticipates-big-earnings-beat-resilient-iphone-16-d">recently said.</a>
Ng reiterated a Buy rating on Apple with a $275 price target recently.
The analyst said Apple's push into artificial intelligence with Apple Intelligence could be a "long-term demand driver."
Another area Ng will be watching closely in Apple's report is the company's Services segment, which could be underestimated by investors.
"Apple&#8217;s installed base growth, secular growth in services, and new product innovation should more than offset cyclical headwinds to product revenue, such as a reduced iPhone unit demand due to a lengthening replacement cycle and reduced consumer demand for the PC &amp; tablet category."
Lower lead times for the iPhone 16 could signal a lack of demand for the newest version of the popular Apple smartphone, Morgan Stanley analyst Erik Woodring<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41350919/apple-analyst-predicts-a-september-quarter-revenue-beat-allays-fears-over-shorter-i"> recently said.</a>
The analyst, who has an Overweight rating and $273 price target on Apple, said while the data for lead times was bad for the iPhone 16, it could be better than the previous iPhone 15.
Lower lead times could also be a factor of Apple being more proactive with its suppliers in keeping inventory in check to avoid supply constraints, Woodring said.
"We believe that better supply conditions are one of the contributing factors to why iPhone lead times are shorter this cycle than in recent cycles," Woodring said.
Here are other recent<a href="https://www.benzinga.com/quote/AAPL/analyst-ratings"> analyst ratings on Apple </a>and their price targets:
<ul>
<li>KeyBanc: Downgraded from Sector-weight to Underweight with $200 price target</li>
<li>Piper Sandler: Reiterated Neutral rating with $225 price target</li>
<li>Bank of America: Reiterated Buy rating with $256 price target</li>
<li>Barclays: Maintained Underweight rating with $186 price target</li>
</ul>
Key Items to Watch: All eyes will be on the iPhone 16 when Apple reports fourth-quarter results Thursday.
Other items that investors will be watching include Services, the initial rollout of Apple Intelligence and China.
<ul>
<li>Services hit an<a href="https://www.benzinga.com/news/earnings/24/08/40116376/apple-q3-earnings-beat-expectations-tim-cook-highlights-breakthrough-ai-platform-installed-base-of-"> all-time record</a> for revenue in the third quarter but came in below Street estimates.</li>
<li>Weakness in China for the third quarter contributed to shares seeing downward pressure after the earnings results.</li>
<li>Apple&#8217;s recent <a href="https://www.benzinga.com/news/24/10/41582312/apples-introduces-imac-m4-chip-brings-faster-speeds-and-smarter-ai-features">AI product announcements</a> could be highlighted in the results as future catalysts.</li>
</ul>
Price Action: Apple stock is down 1% to $230.38 on Wednesday versus a 52-week trading range of $164.08 to $237.49. Apple stock is up 24% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/success-stories/24/10/41441641/apple-ceo-tim-cook-says-apple-intelligence-will-make-products-profoundly-different-new-ai-technol">Apple CEO Tim Cook Says New AI Technology Will Get Consumers &#8216;On A Different Technology Curve&#8217;</a></li>
</ul>
Image:

Analyst Color

Previews

Apple Q4 Earnings Preview: All Eyes On iPhone 16 Demand, Can Tech Giant Beat Analyst Estimates 7 Quarters Straight?

Deep-pocketed investors have adopted a bearish approach towards Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Micron Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 27% leaning bullish and 66% bearish. Among these notable options, 8 are puts, totaling $386,191, and 28 are calls, amounting to $1,631,443.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $250.0 for Micron Technology during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Micron Technology's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Micron Technology's whale trades within a strike price range from $80.0 to $250.0 in the last 30 days. 
<h3>Micron Technology 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730315756_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.1</td>
<td>$5.0</td>
<td>$5.0</td>
<td>$120.00</td>
<td>$287.5K</td>
<td>11.2K</td>
<td style="text-align: right;">711</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$6.15</td>
<td>$5.85</td>
<td>$5.85</td>
<td>$250.00</td>
<td>$117.0K</td>
<td>331</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$11.5</td>
<td>$10.45</td>
<td>$10.55</td>
<td>$96.00</td>
<td>$105.5K</td>
<td>336</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$9.75</td>
<td>$9.6</td>
<td>$9.68</td>
<td>$96.00</td>
<td>$97.4K</td>
<td>336</td>
<td style="text-align: right;">302</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$9.7</td>
<td>$9.45</td>
<td>$9.53</td>
<td>$96.00</td>
<td>$95.2K</td>
<td>336</td>
<td style="text-align: right;">100</td>
</tr>
</tbody>
</table>

<h3>About Micron Technology</h3>
Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.
Having examined the options trading patterns of Micron Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Micron Technology's Current Market Status</h3>
<ul>
<li>Trading volume stands at 9,339,049, with MU's price down by -3.16%, positioned at $104.76.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 49 days.</li>
</ul>
<h3>What Analysts Are Saying About Micron Technology</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $142.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Micron Technology with a target price of $135. 
&#x2A; An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $150. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Micron Technology with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Looking At Micron Technology's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on McKesson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MCK, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 20 uncommon options trades for McKesson.
This isn't normal.
The overall sentiment of these big-money traders is split between 65% bullish and 35%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $538,721, and 12 are calls, for a total amount of $842,156.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $450.0 to $520.0 for McKesson during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for McKesson options trades today is 166.17 with a total volume of 3,049.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for McKesson's big money trades within a strike price range of $450.0 to $520.0 over the last 30 days.
<h3>McKesson Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730315752_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MCK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/08/24</td>
<td>$13.8</td>
<td>$11.2</td>
<td>$11.2</td>
<td>$510.00</td>
<td>$253.1K</td>
<td style="text-align: right;">763</td>
<td style="text-align: right;">250</td>
</tr>
<tr>
<td>MCK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/08/24</td>
<td>$12.8</td>
<td>$12.0</td>
<td>$12.7</td>
<td>$507.50</td>
<td>$158.8K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">125</td>
</tr>
<tr>
<td>MCK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$15.8</td>
<td>$14.8</td>
<td>$14.8</td>
<td>$450.00</td>
<td>$106.5K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">72</td>
</tr>
<tr>
<td>MCK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$15.9</td>
<td>$12.9</td>
<td>$14.7</td>
<td>$450.00</td>
<td>$94.0K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">136</td>
</tr>
<tr>
<td>MCK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$15.7</td>
<td>$14.3</td>
<td>$14.6</td>
<td>$450.00</td>
<td>$87.6K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">196</td>
</tr>
</tbody>
</table>

<h3>About McKesson</h3>
McKesson Corp is one of three leading pharmaceutical wholesalers in the us engaged in sourcing and distributing branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers. Along with Cencora and Cardinal Health, the three account for over 90% of the us pharmaceutical wholesale industry. Outside the us market, McKesson engages in pharmaceutical wholesale and distribution in Canada. Additionally, the company supplies medical-surgical products and equipment to healthcare facilities and provides a variety of technology solutions for pharmacies.
In light of the recent options history for McKesson, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of McKesson</h3>
<ul>
<li>Currently trading with a volume of 455,253, the MCK's price is up by 0.02%, now at $499.28. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 7 days.</li>
</ul>
<h3>What Analysts Are Saying About McKesson</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $630.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Leerink Partners persists with their Outperform rating on McKesson, maintaining a target price of $630. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for McKesson, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

What the Options Market Tells Us About McKesson

Deep-pocketed investors have adopted a bullish approach towards Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in C usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 24 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 29% bearish. Among these notable options, 4 are puts, totaling $161,279, and 20 are calls, amounting to $842,708.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $75.0 for Citigroup over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Citigroup's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Citigroup's whale activity within a strike price range from $40.0 to $75.0 in the last 30 days. 
<h3>Citigroup 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730315747_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>C</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/17/26</td>
<td>$5.75</td>
<td>$5.5</td>
<td>$5.6</td>
<td>$75.00</td>
<td>$95.1K</td>
<td>5.7K</td>
<td>0</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$8.15</td>
<td>$8.05</td>
<td>$8.15</td>
<td>$65.00</td>
<td>$66.0K</td>
<td>3.7K</td>
<td>85</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$2.07</td>
<td>$2.04</td>
<td>$2.05</td>
<td>$64.00</td>
<td>$57.1K</td>
<td>5.3K</td>
<td>551</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$1.06</td>
<td>$1.04</td>
<td>$1.06</td>
<td>$66.00</td>
<td>$53.4K</td>
<td>1.2K</td>
<td>568</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$1.06</td>
<td>$1.02</td>
<td>$1.06</td>
<td>$64.00</td>
<td>$53.0K</td>
<td>9.3K</td>
<td>3.0K</td>
</tr>
</tbody>
</table>

<h3>About Citigroup</h3>
Citigroup is a global financial-services company doing business in more than 100 countries and jurisdictions. Citigroup's operations are organized into five primary segments: services, markets, banking, US personal banking, and wealth management. The bank's primary services include cross-border banking needs for multinational corporates, investment banking and trading, and credit card services in the United States.
After a thorough review of the options trading surrounding Citigroup, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Citigroup's Current Market Status</h3>
<ul>
<li>With a volume of 5,650,616, the price of C is down -0.12% at $64.61. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 77 days.</li>
</ul>
<h3>What Analysts Are Saying About Citigroup</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $79.8.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Citigroup, targeting a price of $92. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on Citigroup, which currently sits at a price target of $82. 
&#x2A; An analyst from Oppenheimer has decided to maintain their Outperform rating on Citigroup, which currently sits at a price target of $91. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Citigroup, which currently sits at a price target of $64. 
&#x2A; An analyst from Barclays has decided to maintain their Equal-Weight rating on Citigroup, which currently sits at a price target of $70. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Citigroup, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Market Whales and Their Recent Bets on Citigroup Options

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