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English Premier League team Manchester United (NYSE: MANU) is widely recognized as one of the top football — or soccer — teams in the world. The owners could be ready to sell and public shareholders could win big.

Here&#39;s How Much Manchester United Stock Could Be Worth In Potential Sale

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The world’s richest person created a stir in the sports world when he tweeted that he would be buying one of the most valuable and recognizable soccer teams in the world.

Elon Musk Is Not Buying Manchester United But The Team Could Still Be For Sale

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Iran's Foreign Minister Amirabdollahian Says Mini Drones Did Not Cause Any Damage Or Casualties In Isfahan Despite Efforts By Pro-Israeli Media To Portray A Defeat As A Victory

Deep-pocketed investors have adopted a bearish approach towards Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</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 DVN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Devon Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 2 are puts, totaling $114,140, and 7 are calls, amounting to $407,958.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $47.5 to $55.0 for Devon Energy over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Devon Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Devon Energy's substantial trades, within a strike price spectrum from $47.5 to $55.0 over the preceding 30 days.
<h3>Devon Energy Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713541589_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</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>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$5.45</td>
<td>$4.15</td>
<td>$3.9</td>
<td>$50.00</td>
<td>$156.3K</td>
<td>6.6K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$6.5</td>
<td>$6.4</td>
<td>$6.4</td>
<td>$50.00</td>
<td>$72.3K</td>
<td>1.3K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.3</td>
<td>$3.2</td>
<td>$3.2</td>
<td>$47.50</td>
<td>$57.2K</td>
<td>6.8K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$2.92</td>
<td>$2.86</td>
<td>$2.86</td>
<td>$55.00</td>
<td>$56.8K</td>
<td>213</td>
<td style="text-align: right;">220</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$5.7</td>
<td>$5.6</td>
<td>$5.6</td>
<td>$50.00</td>
<td>$48.7K</td>
<td>1.3K</td>
<td style="text-align: right;">90</td>
</tr>
</tbody>
</table>

<h3>About Devon Energy</h3>
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2023, net production totaled roughly 658 thousand boe/d, of which oil and natural gas liquids made up roughly three-quarters of production, with natural gas accounting for the remainder.
After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Devon Energy Standing Right Now?</h3>
<ul>
<li>With a volume of 1,865,238, the price of DVN is up 1.13% at $52.01. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 12 days.</li>
</ul>
<h3>What Analysts Are Saying About Devon Energy</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $58.6.
<ul>
<li>An analyst from Stifel has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $65. </li>
<li>An analyst from Morgan Stanley persists with their Overweight rating on Devon Energy, maintaining a target price of $50. </li>
<li>In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $59. </li>
<li>An analyst from JP Morgan has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $62. </li>
<li>Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Devon Energy with a target price of $57. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Devon Energy options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Devon Energy Unusual Options Activity For April 19

Investors with a lot of money to spend have taken a bearish stance on Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with CEG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Constellation Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 12% bullish and 87%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $1,189,564, and there was 1 call, for a total amount of $25,800.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $140.0 to $220.0 for Constellation Energy over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Constellation Energy options trades today is 867.75 with a total volume of 2,755.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Constellation Energy's big money trades within a strike price range of $140.0 to $220.0 over the last 30 days.
<h3>Constellation Energy Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713541584_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>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CEG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$9.7</td>
<td>$8.6</td>
<td>$9.2</td>
<td>$180.00</td>
<td>$348.6K</td>
<td>3.1K</td>
<td style="text-align: right;">390</td>
</tr>
<tr>
<td>CEG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$10.3</td>
<td>$10.2</td>
<td>$10.2</td>
<td>$180.00</td>
<td>$289.6K</td>
<td>1</td>
<td style="text-align: right;">285</td>
</tr>
<tr>
<td>CEG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$11.1</td>
<td>$11.0</td>
<td>$11.0</td>
<td>$180.00</td>
<td>$179.2K</td>
<td>1</td>
<td style="text-align: right;">318</td>
</tr>
<tr>
<td>CEG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$9.9</td>
<td>$9.4</td>
<td>$9.88</td>
<td>$180.00</td>
<td>$167.3K</td>
<td>3.1K</td>
<td style="text-align: right;">715</td>
</tr>
<tr>
<td>CEG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$9.3</td>
<td>$8.9</td>
<td>$9.3</td>
<td>$180.00</td>
<td>$135.7K</td>
<td>3.1K</td>
<td style="text-align: right;">536</td>
</tr>
</tbody>
</table>

<h3>About Constellation Energy</h3>
Constellation Energy Corp offers energy solutions. It provides clean energy and sustainable solutions to homes, businesses, the public sector, community aggregations, and a range of wholesale customers (such as municipalities, cooperatives, and other strategics). The company offers comprehensive energy solutions and a variety of pricing options for electric, natural gas, and renewable energy products for companies of any size.
Following our analysis of the options activities associated with Constellation Energy, we pivot to a closer look at the company's own performance.
<h3>Constellation Energy's Current Market Status</h3>
<ul>
<li>With a trading volume of 933,876, the price of CEG is down by -0.42%, reaching $183.09.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 20 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Constellation Energy</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $194.66666666666666.
<ul>
<li>An analyst from Morgan Stanley persists with their Overweight rating on Constellation Energy, maintaining a target price of $193. </li>
<li>An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Constellation Energy, which currently sits at a price target of $198. </li>
<li>Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Constellation Energy, targeting a price of $193. </li>
</ul>
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 Constellation Energy, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Looking At Constellation Energy's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</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 AFRM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Affirm Holdings. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 3 are puts, totaling $122,935, and 5 are calls, amounting to $371,236.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $27.5 and $37.5 for Affirm Holdings, spanning the last three 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 Affirm Holdings'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 Affirm Holdings's whale activity within a strike price range from $27.5 to $37.5 in the last 30 days. 
<h3>Affirm Holdings Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713541579_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</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>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$8.7</td>
<td>$8.5</td>
<td>$8.7</td>
<td>$30.00</td>
<td>$132.2K</td>
<td>7</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$4.3</td>
<td>$4.1</td>
<td>$4.11</td>
<td>$27.50</td>
<td>$103.1K</td>
<td>1.6K</td>
<td style="text-align: right;">251</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$4.5</td>
<td>$4.4</td>
<td>$4.45</td>
<td>$32.50</td>
<td>$75.2K</td>
<td>1.1K</td>
<td style="text-align: right;">180</td>
</tr>
<tr>
<td>AFRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$2.81</td>
<td>$2.8</td>
<td>$2.8</td>
<td>$30.00</td>
<td>$54.8K</td>
<td>7.9K</td>
<td style="text-align: right;">272</td>
</tr>
<tr>
<td>AFRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$1.82</td>
<td>$1.72</td>
<td>$1.72</td>
<td>$27.50</td>
<td>$41.2K</td>
<td>3.8K</td>
<td style="text-align: right;">252</td>
</tr>
</tbody>
</table>

<h3>About Affirm Holdings</h3>
Affirm Holdings Inc offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. The firm generates its revenue from merchant networks, and through virtual card networks among others. Geographically, it generates a majority share of its revenue from the United States.
After a thorough review of the options trading surrounding Affirm Holdings, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Affirm Holdings</h3>
<ul>
<li>With a volume of 1,471,600, the price of AFRM is up 0.48% at $31.3. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 19 days.</li>
</ul>
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 Affirm Holdings, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

AFRM

Market Whales and Their Recent Bets on AFRM Options

Tigress Financial analyst Ivan Feinseth maintains Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) with a Buy and raises the price target from $72 to $96.

Price Target

Analyst Ratings

UBER

Tigress Financial Maintains Buy on Uber Technologies, Raises Price Target to $96

Trump Media &amp; Technology Group Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">shares are trading higher on Friday.</a>
In an&nbsp;<a target="_blank" href="https://s3.amazonaws.com/sec.irpass.cc/2660/0001140361-24-020575.pdf" rel="noreferrer noopener">exchange filing</a>, the company said it sent a letter to Nasdaq regarding&nbsp;<a target="_blank" href="https://www.benzinga.com/general/politics/24/04/38298524/trump-sees-net-worth-dip-below-4b-after-truth-social-stock-tumbles-could-ex-president-sell-share" rel="noreferrer noopener">suspected short-selling activity in its shares.</a>
&#8220;As you know, &#8220;naked&#8221; short selling—selling shares of a stock without first borrowing the shares deemed difficult to locate—is generally illegal pursuant to Securities and Exchange Commission Regulation SHO,&#8221; Chief Executive Devin Nunes said in the letter.
As of April 17, Former President&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/donald-trump" rel="noreferrer noopener">Donald Trump&#8217;s</a>&nbsp;Trump Media &amp; Technology Group, behind the Truth Social platform,&nbsp;appears on Nasdaq&#8217;s &#8220;Reg SHO threshold list,&#8221;&nbsp;which indicates unlawful trading activity.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38327701/trump-looks-less-orange-more-yellow-says-dismissed-hush-money-trial-juror-he-doesnt-look-angry-he-lo" rel="noreferrer noopener">Trump Looks Less Orange, More Yellow Says Dismissed Hush Money Trial Juror: &#8216;He Doesn&#8217;t Look Angry, He Looks Bored&#8217;</a>
&#8220;This is particularly troubling given that &#8220;naked&#8221;&nbsp;short selling often entails sophisticated market participants profiting at the expense of retail investors,&#8221;&nbsp;Nunes&nbsp;added.
Reports indicate that, as of April 3, the filing added that Trump Media was&nbsp;the most expensive U.S. stock to short,&nbsp;meaning&nbsp;brokers have a significant financial incentive to lend non-existent shares.
&#8220;Data made available to us indicate that just four market participants have been responsible for over 60% of the extraordinary volume of DJT shares traded: Citadel Securities, VIRTU Americas, G1 Execution Services, and Jane Street Capital,&#8221;&nbsp;the company said in the filing.
Yesterday, Trump Media &amp; Technology Group&nbsp;explained to shareholders how to prevent shares from&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38319481/why-trump-media-technology-group-shares-are-gaining-thursday" rel="noreferrer noopener">being loaned for a short-interest position.</a>
The advice comes amid a decline in the share price of DJT since March 26, when the company behind the Truth Social app went public, CNBC&nbsp;<a target="_blank" href="https://www.cnbc.com/2024/04/18/trump-media-tells-djt-shareholders-how-to-block-short-sellers.html#:~:text=The%20tips%20include%20holding%20DJT,them%20in%20your%20retirement%20account.%E2%80%9D" rel="noreferrer noopener">reported</a>.
&#8220;In light of the&nbsp;foregoing, and Nasdaq&#8217;s obligation and commitment to&nbsp;protect&nbsp;the interests of retail investors, please advise what steps you can take to foster transparency and compliance by ensuring market makers are adhering to Reg SHO, requiring brokers to disclose their&#8217; Net Short&#8221;&nbsp;positions, and preventing the lending of shares that do not exist,&#8221; Nunes wrote to Nasdaq.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38323136/trump-media-vs-reddit-analyzing-the-showdown-of-social-media-giants" rel="noreferrer noopener">Trump Media Vs. Reddit — Analyzing The Showdown Of Social Media Giants</a>
Price Action: DJT shares are trading higher by 2.21% to $33.93 on the last check Friday.
Photo via Shutterstock

Equities

Tech

Trump Media & Technology Group Alleges Naked Short Selling, Seeks Nasdaq's Intervention

WIIM

MRVL

NVDA

Shares of semiconductor stocks are trading lower. The sector has been under pressure this week following earnings from ASML and TSMC. Stocks have been mixed Friday amid overall market uncertainty on Iran-Israel tensions.

SPCE

Virgin Galactic Holdings shares are trading lower after the company announced it is considering a reverse stock split with a range between 1-for-2 and 1-for-20.

JMP Securities analyst Mitch Germain reiterates Global Net Lease (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNL#NYSE">GNL</a>) with a Market Perform.

Reiteration

JMP Securities Reiterates Market Perform on Global Net Lease

Citigroup analyst Ashwin Shirvaikar maintains DLocal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLO#NASDAQ">DLO</a>) with a Neutral and maintains $17 price target.

Citigroup Maintains Neutral on DLocal, Maintains $17 Price Target

International Monetary Fund (IMF) deputy chief Gita Gopinath raised concerns about the United States&#8217; burgeoning public debt, emphasizing the urgency of reducing the federal deficit from its <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38292094/imf-raises-concerns-over-us-debt-something-will-have-to-give">current 7% of GDP.</a>
&#8220;The U.S. is running [a] very large deficit for a country with a strong demand, and they still have to deal with the last mile to bring inflation down,&#8221; Gita Gopinath, said Friday in a Bloomberg interview during the IMF Spring Meetings.
&#8220;We can't have a deficit of 7% of GDP, it needs to be lower,&#8221; Gopinath added.
<h3 class="wp-block-heading">The US Government Has A Fiscal Challenge: The Figures Don't Lie</h3>
The U.S. government fiscal deficit ballooned to 8.8% of GDP in 2023, marking a considerable increase from the previous year's 4.1%. This surge has been largely attributed to a significant fall in income tax revenues paired with escalated government expenditure.
Peering into the future, the IMF's Fiscal Monitor publication forecasted only a minor contraction of the U.S. budget deficit to 6.6% of GDP in 2024. 
However, the relief appears short-lived as estimates indicate a rebound to 7.1% in 2025, with the deficit remaining constantly above 6% through 2029. 
That signals a worrisome upward trend for the U.S. government debt-to-GDP ratio, which is expected to climb from 122% to 134% by 2029, according to the IMF projections. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Year</td>
<td>Government Deficit (As % of GDP)</td>
<td>Government Debt As % of GDP</td>
</tr>
<tr>
<td>2023</td>
<td>-8.8</td>
<td>122.1</td>
</tr>
<tr>
<td>2024</td>
<td>-6.5</td>
<td>123.3</td>
</tr>
<tr>
<td>2025</td>
<td>-7.1</td>
<td>126.6</td>
</tr>
<tr>
<td>2026</td>
<td>-6.6</td>
<td>128.9</td>
</tr>
<tr>
<td>2027</td>
<td>-6.2</td>
<td>130.7</td>
</tr>
<tr>
<td>2028</td>
<td>-6.4</td>
<td>132.6</td>
</tr>
<tr>
<td>2029</td>
<td>-6</td>
<td>133.9</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: IMF Fiscal Monitor – April 2024</figcaption></figure>
<h3 class="wp-block-heading">The Ripple Effect Of US Debt Dynamics</h3>
Gopinath cautioned that if U.S. fiscal challenges are left unchecked, they risk threatening global economic stability. 
&#8220;That has consequences for debt servicing in the U.S. and spillovers to the rest of the world.&#8221; A central point of Gopinath&#8217;s concern is the ‘&#8221;crowding out&#8221; effect, where U.S. borrowing could heighten borrowing costs globally. 
&#8220;When you have debt issues in the U.S., that can crowd out the borrowing from other countries, as their cost of borrowing will increase by much more.&#8221;
Furthermore, Gopinath noted that while the U.S. does not currently face a debt sustainability crisis, the heavy borrowing is pushing interest rates higher, which reverberates through global financial systems and affects international corporations.
<h3 class="wp-block-heading">Not Much Relief Coming From Lower Interest Rates</h3>
Potentially lower interest rates are unlikely to materially shift the U.S. fiscal problems. 
&#8220;We are expecting interest rates to come down, but bringing inflation back to target is going to take a little longer,&#8221; Gopinath said. 
Addressing a question on the possibility of interest rates returning to pre-pandemic levels, Gopinath's response was clear: &#8220;That doesn't seem to be the case.&#8221;
Yields on the 2-year Treasury note, often seen as a barometer for Federal Reserve rate moves, hit the 5% mark on Friday, reaching peaks not seen since mid-November 2023, and reflecting a dramatic shift in investor expectations regarding future Fed rate cuts.
Meanwhile, the market performance of U.S. Treasury bonds has been negative this year. Notably, the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) has witnessed a 9% retreat since the year began. 
Read now: <a href="https://www.benzinga.com/general/macro-notification/24/04/38325320/small-group-of-hedge-funds-wields-dominance-in-us-treasury-market-a-concentration-of-v">Small Group Of Hedge Funds Wields Dominance In US Treasury Market: &#8216;A Concentration Of Vulnerability Has Built Up,&#8217; IMF Warns</a>
Image generated using artificial intelligence via Midjourney.

Macro Notification

Bonds

Specialty ETFs

Treasuries

Econ #s

Federal Reserve

ETFs

iShares Trust Barclays 20+ Year Treasury Bond Fund

Is The US National Debt Unsustainable? 'We Can't Have A Deficit Of 7% Of The GDP'

<a href="https://ec.europa.eu/transparency/documents-register/detail?ref=C(2024)2719&amp;lang=en">https://ec.europa.eu/transparency/documents-register/detail?ref=C(2024)2719&amp;lang=en</a>
&nbsp;
<figure class="image"><img src="https://pbs.twimg.com/media/GLiXL8HboAAT7_C?format=jpg&amp;name=small" alt="Image" /></figure>

Biotech

Eurozone

TVTX

Reported Earlier, Travere Therapeutics And CCL Vifor Get European Commission Approval Of Sparsentan For The Treatment Of IgA Nephropathy.

Plenty of prop traders have lost fortunes because of bad decisions. But few have been amenable enough to stand in front of a microphone and explain what went wrong, especially when it&#8217;s a stock as volatile and contentious as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). However, long-time investor Charles Harris had no problem discussing his crash-and-burn, especially since he broke his rules.
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<h2 class="wp-block-heading">Breaking the Rules</h2>
Harris is a long-time portfolio manager at O'Neil Capital Management Inc. whose aggressive style has produced eye-watering gains and stomach-churning losses. But Harris's start was unceremonious, and he found himself trading irrationally with little plan or expectation. Harris&#8217;s results improved after developing a <a href="https://www.benzinga.com/money/stock-research-tools">system of rules</a>, like position sizing and anticipating price action.
Over 30-plus years, Harris has seen plenty of ups and downs in the market. He traded through the meltdown of Long-Term Capital Management, the dot-com boom and bust, the great financial crisis and the subsequent 10-year bull market run. Harris had more good years than bad and continued ascending the ranks at O'Neil, moving from research assistant to analyst to portfolio manager. However, it wasn't until 2013 that Harris found the stock that would become the focus of his investment process (and eventual rulebreaking) — Tesla.
<h2 class="wp-block-heading">Highest Of Highs And Lowest Of Lows</h2>
Harris was no stranger to losses. Between 2014 and 2017, he suffered a devastating drawdown that saw nearly 90% of his net worth evaporate. Harris has been open about what this period has cost him beyond money: confidence, self-respect and, eventually, his marriage.
Tesla is one of the <a href="https://www.benzinga.com/money/best-tech-stocks">most volatile stocks</a> in the S&amp;P 500, so imagine the whiplash an investor could get back in 2013 when the company was a long way from a household name. Harris was an early enthusiast of the stock and believed the company had some fundamentally innovative technology on its hands. And despite a career defined by sticking to his rules, Harris began to let his guidelines slide on volatile stocks like Tesla.
Tesla was a big winner in 2020 and 2021, rising from a split-adjusted COVID crash low of $23 to an all-time high of $414. Harris was there the whole way, riding the wave and building an eight-figure trading account thanks to building a margin position. Despite some warning signs, Harris's conviction remained and he stuck with his Tesla position, which suffered a devastating collapse in 2022. Tesla shares plunged to a low of $101 by the start of 2023, and Harris's eight-figure portfolio was now a six-figure portfolio.
Harris explained his losses in <a href="https://twitter.com/pedma7/status/1770049753826419163">an honest and heartfelt video</a>, openly discussing how using margin and ignoring his own trading rules led to one of the largest blowups of his career. Despite the losses, Harris managed to preserve his account through some defensive trading and now preaches about the risk of using margin in a high-conviction stock.
Losses often provide better lessons than wins because mistakes offer a chance for self-reflection and improvement. Plus, you'll never know your true identity as a trader unless you experience both the highs and lows of investing. Do you think you have a trading system that can match up with the best of the pros? SurgeTrader offers a <a href="https://surgetrader.com/">virtual prop trading challenge</a> where seasoned traders can match wits and attempt to earn a coveted funded account.&nbsp;
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Learning From Losses: Charles Harris's Lessons From Making (And Losing) Seven Figures On Tesla Stock

JMP Securities analyst Trevor Cranston reiterates Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) with a Market Outperform and maintains $14.5 price target.

JMP Securities Reiterates Market Outperform on Ellington Financial, Maintains $14.5 Price Target

Drug shortages in the UK have more than doubled between 2020 and 2023, a recent study by the Nuffield Trust reveals. Brexit is cited as a significant factor exacerbating the country&#8217;s struggle to manage shortages in medicine supplies.&nbsp;
Since the UK departed from the European Union in January 2020, the nation has grappled with persistently heightened shortages, particularly concerning crucial treatments like antibiotics and epilepsy drugs.
The research highlights a substantial increase in warnings issued by drug companies regarding impending shortages.&nbsp;
In 2023 alone, there were 1,643 warnings compared to 648 in 2020. Consequently, the government has found itself more frequently reimbursing pharmacies for purchasing drugs above standard costs, with price concessions soaring from 20 instances per month before 2016 to a peak of 199 per month in late 2022.
Citing Mark Dayan, the Brexit program lead at the Nuffield Trust, the Financial Times&nbsp;<a target="_blank" href="https://www.ft.com/content/e1c60543-f5fa-44ac-b180-4b4c60d86342" rel="noreferrer noopener">highlighted</a>&nbsp;that the challenges extend beyond Brexit, with global issues such as disrupted import chains from Asia due to&nbsp;Covid-19&nbsp;exacerbating the situation.&nbsp;
Exiting the EU has compounded these issues, causing disruptions in the smooth flow of products across borders and potentially limiting the availability of alternative medicines in the long run.
The report underscores how Brexit has intensified vulnerabilities in global and UK-specific drug supply chains.&nbsp;
Customs checks at borders and increased regulations for manufacturers, including those related to the UK&#8217;s departure from the European Medicines Agency, have further complicated matters.&nbsp;
Some companies have even opted to exclude the UK from their supply chains.
In addition to Brexit-related challenges, the UK&#8217;s Medicines and Healthcare Regulatory Agency (MHRA) has struggled to approve drugs at the same pace as the EU, hindering the entry of generic medicines into the UK market.&nbsp;
Surges in demand for certain drugs, coupled with UK pricing policies, have further strained supplies in the country.
Despite efforts to address these issues, such as establishing a Critical Imports Council, concerns&nbsp;still need to be&nbsp;addressed&nbsp;about the UK&#8217;s ability to mitigate future shortages without access to EU solidarity mechanisms.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image credit: Dall-E 3

Government

Health Care

Brexit Impact On Drugs - Rising Shortages in UK Highlight Brexit Challenges

JMP Securities analyst Mikhail Goberman reiterates Ellington Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EARN#NYSE">EARN</a>) with a Market Perform.

EARN

JMP Securities Reiterates Market Perform on Ellington Residential

JMP Securities analyst Trevor Cranston reiterates Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) with a Market Perform.

JMP Securities Reiterates Market Perform on Dynex Cap

Mastercard Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) launched a mobile virtual card application Thursday, changing the way virtual commercial cards integrate with digital wallets.&nbsp;
The innovation aims to provide financial institutions with diverse options for delivering secure, eco-friendly, and contactless payment methods that modern businesses <a href="https://www.mastercard.com/news/press/2024/april/mastercard-launches-mobile-virtual-card-app-to-simplify-travel-and-business-expenses/" target="_blank" rel="noreferrer noopener">demand</a>. 
The shift towards digital wallets, particularly among millennials, underscores the move towards more convenient contactless payments through mobile technology.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38181568/mastercard-revamps-structure-for-growth-new-teams-to-drive-core-payments-and-services" rel="noreferrer noopener">Mastercard Revamps Structure for Growth, New Teams to Drive Core Payments and Services</a>
The app capitalizes on Mastercard&#8217;s advanced virtual card and tokenization technology.
The application&#8217;s design emphasizes security, featuring biometric authentication, PIN-protected card detail access, and tokenization for enhanced data protection.&nbsp;
The app accommodates cards from multiple issuing financial institutions, ensuring a comprehensive management system for users.
HSBC Australia and Westpac will be the first to extend this mobile wallet functionality to their corporate customers through the Mastercard app.
Baird&nbsp;analyst David Koning maintained Mastercard with an Outperform rating and raised the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/MA/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$525&nbsp;to&nbsp;$545</a>.
For the first quarter, revenue&nbsp;and EPS will likely be above consensus predictions. As per&nbsp;the analyst,&nbsp;EPS will likely be around $3.31-3.33, slightly higher than the Street&#8217;s $3.24.&nbsp;
Revenue will likely be approximately $6.44 billion, surpassing the Street&#8217;s expectation of $6.34 billion.&nbsp;This&nbsp;reflects an 11% organic constant currency growth. Koning said that the impact of the foreign exchange remains unchanged from Q4, offering a slight tailwind.
Assessments contribute 25-30% of gross revenue, with the&nbsp;analyst&#8217;s consensus&nbsp;possibly being a bit high&nbsp;at about $2.44 billion.
He stated that Transaction Processing, which makes up 35-40% of revenue, is expected to be more than the consensus, at around $3.14 billion, indicating stable transaction growth.
Cross-border revenues, forming 15-20% of the total, are slightly underestimated in consensus at $2.17 billion; a more reasonable estimate is around $2.18 billion, Koning said.
According to the analyst, value-added services&nbsp;are likely to&nbsp;grow organically in the mid-teens in constant currency terms, aligning with street expectations.
He added that rebates and incentives as a percentage of gross revenue will likely be milder than the consensus suggests.
The guidance for 2024 is likely to reiterate most aspects, with a slight increase in revenue expectations to accommodate a first-quarter beat despite a 0.5% additional FX headwind since the last report.&nbsp;
Koning said&nbsp;that this&nbsp;could imply a revenue range of $28-28.2 billion, aligning with the consensus of $28.1 billion.
The stock&nbsp;is favored&nbsp;for 2024, primarily due to the anticipation of over 15% EPS growth, supported by a stable valuation multiple.
Price Actions:&nbsp;MA shares traded higher by 0.01% to $454.74 on&nbsp;the last check Friday.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38110715/mastercard-boosts-rewards-with-new-brand-partnerships-on-the-back-of-upcoming-fee-hikes" rel="noreferrer noopener">Mastercard Boosts Rewards with New Brand Partnerships On The Back Of Upcoming Fee Hikes</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Mastercard's Latest Virtual Card App Move to Boost Contactless Payments; Analyst Eyes Substantial Growth Citing Advanced Security and Digital Innovations

KTOS

Kratos Defense & Security Option Alert: May 17 $20 Calls Sweep (4) near the Ask: 839 @ $0.9 vs 8934 OI; Earnings 5/1 After Close [est] Ref=$18.12

JMP Securities analyst Trevor Cranston reiterates ARMOUR Residential REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARR#NYSE">ARR</a>) with a Market Perform.

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Latest News for AFC Ajax Stock (OTC:AFCJF)

Wednesday, November 23, 2022

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