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MillerKnoll shares are trading lower after the company reported worse-than-expected Q1 financial results and issued Q2 EPS guidance below estimates.

Deep-pocketed investors have adopted a bearish approach towards Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</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 SNOW usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Snowflake. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 42% bearish. Among these notable options, 4 are puts, totaling $177,167, and 10 are calls, amounting to $773,215.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $85.0 and $190.0 for Snowflake, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</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 Snowflake'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 Snowflake's whale trades within a strike price range from $85.0 to $190.0 in the last 30 days. 
<h3>Snowflake 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726861629_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>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.2</td>
<td>$120.00</td>
<td>$210.0K</td>
<td>2.9K</td>
<td style="text-align: right;">737</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$12.0</td>
<td>$11.9</td>
<td>$11.91</td>
<td>$110.00</td>
<td>$178.6K</td>
<td>714</td>
<td style="text-align: right;">457</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$11.05</td>
<td>$11.0</td>
<td>$11.05</td>
<td>$115.00</td>
<td>$110.5K</td>
<td>840</td>
<td style="text-align: right;">101</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$6.45</td>
<td>$6.3</td>
<td>$6.45</td>
<td>$85.00</td>
<td>$76.7K</td>
<td>2.4K</td>
<td style="text-align: right;">119</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$11.5</td>
<td>$11.35</td>
<td>$11.5</td>
<td>$110.00</td>
<td>$57.5K</td>
<td>714</td>
<td style="text-align: right;">164</td>
</tr>
</tbody>
</table>

<h3>About Snowflake</h3>
Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500 as its customers. Snowflake's data lake stores unstructured and semistructured data that can then be used in analytics to create insights stored in its data warehouse. Snowflake's data sharing capability allows enterprises to easily buy and ingest data almost instantaneously compared with a traditionally months-long process. Overall, the company is known for the fact that all of its data solutions that can be hosted on various public clouds.
Having examined the options trading patterns of Snowflake, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Snowflake's Current Market Status</h3>
<ul>
<li>With a trading volume of 6,314,299, the price of SNOW is down by -3.11%, reaching $110.47.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 68 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Snowflake</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $168.2.
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; Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Snowflake, targeting a price of $180. 
&#x2A; Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Snowflake, targeting a price of $190. 
&#x2A; In a positive move, an analyst from HSBC has upgraded their rating to Hold and adjusted the price target to $121. 
&#x2A; An analyst from Needham has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $160. 
&#x2A; Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Snowflake, targeting a price of $190. 
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 Snowflake options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

SNOW

Check Out What Whales Are Doing With SNOW

Investors with a lot of money to spend have taken a bearish stance on Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</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 SPOT, 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 11 uncommon options trades for Spotify Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 54%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $312,552, and 4 are calls, for a total amount of $198,826.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $270.0 to $500.0 for Spotify Technology during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</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 Spotify 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 Spotify Technology's whale trades within a strike price range from $270.0 to $500.0 in the last 30 days. 
<h3>Spotify Technology Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726861623_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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$27.65</td>
<td>$27.1</td>
<td>$27.65</td>
<td>$360.00</td>
<td>$102.3K</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">45</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$18.5</td>
<td>$18.3</td>
<td>$18.5</td>
<td>$320.00</td>
<td>$70.3K</td>
<td style="text-align: right;">138</td>
<td style="text-align: right;">38</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$32.2</td>
<td>$31.65</td>
<td>$32.15</td>
<td>$380.00</td>
<td>$48.2K</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">75</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$14.55</td>
<td>$14.4</td>
<td>$14.4</td>
<td>$370.00</td>
<td>$43.2K</td>
<td style="text-align: right;">125</td>
<td style="text-align: right;">34</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$32.3</td>
<td>$31.6</td>
<td>$32.25</td>
<td>$380.00</td>
<td>$41.9K</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">30</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
<h3>Present Market Standing of Spotify Technology</h3>
<ul>
<li>With a volume of 826,486, the price of SPOT is up 1.52% at $365.69. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 32 days.</li>
</ul>
<h3>What Analysts Are Saying About Spotify Technology</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $437.5.
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 Evercore ISI Group keeps a Outperform rating on Spotify Technology with a target price of $460. 
&#x2A; Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Spotify Technology with a target price of $440. 
&#x2A; Maintaining their stance, an analyst from Pivotal Research continues to hold a Buy rating for Spotify Technology, targeting a price of $510. 
&#x2A; Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $340.
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 Spotify Technology options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

SPOT

Spotlight on Spotify Technology: Analyzing the Surge in Options Activity

Deep-pocketed investors have adopted a bearish approach towards Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</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 LOW 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 Lowe's Companies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 33% bearish. Among these notable options, 6 are puts, totaling $297,188, and 3 are calls, amounting to $106,068.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $220.0 to $270.0 for Lowe's Companies over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</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 Lowe's Companies'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 Lowe's Companies's whale trades within a strike price range from $220.0 to $270.0 in the last 30 days. 
<h3>Lowe's Companies 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726861618_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>LOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/25/24</td>
<td>$9.05</td>
<td>$8.25</td>
<td>$8.73</td>
<td>$265.00</td>
<td>$53.8K</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">60</td>
</tr>
<tr>
<td>LOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$12.85</td>
<td>$11.6</td>
<td>$11.6</td>
<td>$270.00</td>
<td>$52.2K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">204</td>
</tr>
<tr>
<td>LOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/25/24</td>
<td>$11.9</td>
<td>$10.0</td>
<td>$12.55</td>
<td>$270.00</td>
<td>$49.9K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">40</td>
</tr>
<tr>
<td>LOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/25/24</td>
<td>$12.35</td>
<td>$11.4</td>
<td>$11.86</td>
<td>$270.00</td>
<td>$48.6K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">121</td>
</tr>
<tr>
<td>LOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$12.75</td>
<td>$11.95</td>
<td>$11.95</td>
<td>$270.00</td>
<td>$47.8K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">80</td>
</tr>
</tbody>
</table>

<h3>About Lowe's Companies</h3>
Lowe's is the second-largest home improvement retailer in the world, operating more than 1,700 stores in the United States, after the 2023 divestiture of its Canadian locations (RONA, Lowe's Canada, Réno-Dépôt, and Dick's Lumber). The firm's stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers as well as commercial and professional business clients (around 25% of sales). We estimate Lowe's captures a high-single-digit share of the domestic home improvement market, based on US Census data and management's market size estimates.
In light of the recent options history for Lowe's Companies, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Lowe's Companies Standing Right Now?</h3>
<ul>
<li>With a volume of 1,810,893, the price of LOW is down -0.21% at $260.44. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 60 days.</li>
</ul>
<h3>Professional Analyst Ratings for Lowe's Companies</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $265.0.
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; Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Lowe's Companies, targeting a price of $265. 
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 Lowe's Companies, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

A Closer Look at Lowe's Companies's Options Market Dynamics

Federal Reserve Governor Michelle W. Bowman defended her decision on Friday to withhold support for a 50-basis-point interest rate cut during this week&#8217;s <a href="https://www.benzinga.com/topic/federal-open-market-committee">Federal Open Market Committee&#8217;s meeting</a>.
Instead, Bowman advocated for a more measured approach and was the lone vote for a 25-basis-point reduction, citing the ongoing issue of inflation remaining above the Fed's 2% target.
<h3 class="wp-block-heading">Historic Dissent Breaks Two Decades Of Unanimous Fed Calls </h3>
Bowman's dissent marked a historical moment for Federal Reserve rate moves, as it was the first time since 2005 that a Fed governor openly disagreed with a rate decision, signaling the emergence of a crack within the Fed&#8217;s once-unanimous board. 
Bowman said a more gradual move toward a neutral monetary policy stance would better suit economic conditions.
&#8220;The normalization in labor market conditions is necessary to help bring wage growth down to a pace consistent with 2 percent inflation,&#8221; Bowman said. 
She also stressed that moving too aggressively with rate cuts might signal a &#8220;premature declaration victory&#8221; over inflation, potentially undermining the Fed&#8217;s broader goals.
Bowman cautioned that inflation, particularly core personal consumption expenditures prices, remains too high, as it continues to hover above 2% target. &#8220;We have not yet achieved our inflation goal,&#8221; she said. 
<h3 class="wp-block-heading">Waller&#8217;s Contrasting Optimism On Inflation</h3>
Bowman's remarks, however, contrasted sharply with those of Fed Governor Christopher Waller.
&#8220;Inflation is softening much faster than I thought it was going to,&#8221; Waller told CNBC, adding that he anticipates the August Personal Consumption Expenditures monthly inflation will come in around 0.1%, with the 12-month annualized rate potentially falling below 2%.
Waller's more optimistic outlook on inflation led him to support a 50-basis-point rate cut, believing it was justified given the data. Nonetheless, he noted that if future economic data continues to align with expectations, he would support a 25-basis-point cut, but would be open to deeper cuts if inflation undershot expectations.
<h3 class="wp-block-heading">Market Reactions</h3>
Fed remarks on Friday had little impact on markets, with both the dollar and Treasury yields holding broadly steady. 
The U.S. stock market had a negative session on Friday, with the S&amp;P 500 index, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), down 0.6%. 
Gold prices, as monitored through the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), made fresh all-time highs above $2,600 per ounce.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40962983/wall-street-falls-on-triple-witching-day-feds-waller-pushes-gold-to-fresh-record-highs-fedex-plu">Wall Street Falls On Triple Witching Day, Fed&#8217;s Waller Pushes Gold To Fresh Record Highs, FedEx Plummets: What&#8217;s Driving Markets Friday?</a></li>
</ul>
Image: Pixabay

Federal Reserve

Fed's Historic Dissenter Bowman Says Smaller Interest Rate Cut Was Justified: 'We Have Not Yet Achieved Our Inflation Goal'

With the Federal Trade Commission (FTC) taking a scalpel to the pharmacy benefit managers (PBMs) of UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), CVS Health Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) and Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), investors are left wondering which health giant can best <a href="https://www.benzinga.com/general/health-care">weather the storm</a>.
The FTC's lawsuit, <a href="https://www.cnbc.com/2024/09/20/ftc-sues-drug-middlemen-for-allegedly-inflating-insulin-prices.html">targeting</a> these companies for allegedly inflating insulin prices, could have a major ripple effect across the healthcare industry—and that means stock volatility. 
So, which stock looks healthier?
<h1 class="wp-block-heading">UnitedHealth Group: Big &amp; Bold, But Under The Microscope</h1>
UnitedHealth Group&#8217;s OptumRx unit is at the heart of the FTC's lawsuit, and while UNH's sheer scale as a global leader in healthcare gives it plenty of muscle, it also makes it a big target. 
Analysts predict a modest <a href="https://www.benzinga.com/report/UNH">2.75% price movement</a> over the next 12 months, with a price target range of $591 to $680. UnitedHealth&#8217;s size could either serve as a shield or an anchor, depending on how the FTC&#8217;s hammer falls. 
For now, it's the heavyweight champ, but will its bulk keep it from dodging regulatory punches?
Read Also: <a href="https://www.benzinga.com/general/biotech/24/09/40820758/unitedhealth-follows-competitors-replaces-humira-with-lower-cost-biosimilars">UnitedHealth Follows Competitors, Replaces Humira with Lower-Cost Biosimilars</a>
<h1 class="wp-block-heading">CVS Health: Retail Resilience Or Regulation Roadblock?</h1>
CVS Health, known for its 9,000-plus pharmacy locations and its PBM business Caremark, finds itself in the crosshairs, too.
Its integration with Aetna and recent Oak Street acquisition might help it spread risk, but the complexity of its operations also means more regulatory scrutiny. 
Analysts are predicting a price movement of around 6.36%, with a <a href="https://www.benzinga.com/report/CVS">12-month target of $63</a>. CVS is a diversified player, but being a jack-of-all-trades could make navigating the regulatory maze even trickier.
<h1 class="wp-block-heading">Cigna: Niche Focus, Bigger Moves?</h1>
Cigna, meanwhile, might just be the underdog to keep an eye on. Its PBM arm, Express Scripts, is a major player, but Cigna's more focused approach with self-funded plans and key government contracts could help it pivot more easily than its larger rivals. 
Analysts expect a more significant <a href="https://www.benzinga.com/report/CI">14.22% price movement</a> for Cigna, with a target range of $400 to $438. Cigna's smaller footprint in the broader health insurance landscape could allow it to sidestep the worst of the regulatory fallout and come out swinging.
<h1 class="wp-block-heading">Who's Got The Edge?</h1>
In this health stock showdown, the winner depends on how well these companies can adapt to the FTC's increasing scrutiny. 
UnitedHealth's size gives it strength but might make it a bigger target. CVS has a diversified portfolio but faces risks from its complexity. Cigna, while smaller, seems poised for the most price movement and could be the nimblest in dealing with the regulatory headwinds. 
Investors should keep a close eye on how this legal saga unfolds — there's more drama to come!
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40957261/wall-streets-most-accurate-analysts-weigh-in-on-3-health-care-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Health Care Stocks With Over 3% Dividend Yields</a></li>
</ul>
Photos: Shutterstock

Government

Regulations

Health Care

General

UnitedHealth Vs. CVS Vs. Cigna: Which Health Stock Will Beat The FTC's Regulatory Heat?

Cryptocurrency markets are trading sideways, with Ethereum outperforming Bitcoin to end the week strong.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>$62,907.07</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>$2,544.07</td>
<td>+3%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>$146.17</td>
<td>+1.9%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>$0.1048</td>
<td>-1.4%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: SHIBA)</td>
<td>$0.00001414</td>
<td>-1.1%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows an increase of 10.5% in large transaction volume and a 4.8% surge in daily active addresses. Transactions greater than $100,000 increased from 8,206 to 9,567 in a single day. Exchanges netflows decreased by 147.2%.</li>
<li>Coinglass data shows 62,203 traders liquidated in the past 24 hours for $149.39 million.</li>
<li>Crypto chart analyst Ali Martinez stated that almost $2 billion in Bitcoin futures contracts were opened in just 48 hours. He <a href="https://x.com/ali_charts/status/1837096111611219978">added</a> that this could be a potential long squeeze.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40961791/the-biggest-crypto-crime-cases-in-2024-heists-frauds-and-multi-million-dollar-scams-shake-">The Biggest Crypto Crime Cases In 2024: Heists, Frauds, And Multi-Million Dollar Scams Shake The Industry</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40957734/ethereum-co-founder-says-donald-trumps-defi-platform-is-scary-because-everything-trump-doe">Ethereum Co-Founder Says Donald Trump&#8217;s DeFi Platform Is &#8216;Scary&#8217; Because &#8216;Everything Trump Does The Left Hates With Such A Passion&#8217;</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40959620/investment-firm-to-pay-80m-for-overvaluing-cmos-accounting-outfit-to-pay-2m-for-crypto-aud">Investment Firm To Pay $80M For Overvaluing CMOs, Accounting Outfit To Pay $2M For Crypto Audit Scam: Financial Crime Weekly</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40917728/swiss-stock-exchange-explores-crypto-trading-platform-in-europe">Swiss Stock Exchange Explores Crypto Trading Platform In Europe</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40964095/core-blockchains-defi-tvl-skyrockets-over-1000-introduces-non-custodial-btc-staking">Core Blockchain&#8217;s DeFi TVL Skyrockets Over 1000%, Introduces Non-Custodial BTC Staking</a></li>
</ul>
Top Gainers: 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Sui (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SUI</a>)</td>
<td>$1.49</td>
<td>+11.6%</td>
</tr>
<tr>
<td>Bittensor (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TAO</a>)</td>
<td>$408.02</td>
<td>+9.3%</td>
</tr>
<tr>
<td>Aptos (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">APT</a>)</td>
<td>$7.26</td>
<td>+6.4%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: With Bitcoin prices dropping below $63,000, crypto trader Cold Blooded Shiller noted that test zones are coming up for Bitcoin. He said that the response is important whether the demand is bounced or swept.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Test zones coming up for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. Bounce the demand, or get the sweep, but the response to either will be important. <a href="https://t.co/boCOvylIGV">https://t.co/boCOvylIGV</a> <a href="https://t.co/P3L5I3hiuN">pic.twitter.com/P3L5I3hiuN</a>
&mdash; Cold Blooded Shiller (@ColdBloodShill) <a href="https://twitter.com/ColdBloodShill/status/1837193120792072497?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Rekt Capital <a href="https://x.com/rektcapital/status/1837130780566278426">sees</a> falling Bitcoin dominance (currently at 57.68%) entirely in line with the historical tendencies around these levels. He compared the situation to five years ago in mid-April 2019.
The trader posits that dominance is now dipping for a retest of this level into new support to confirm a breakout across the macro range.
Bitcoin is the same price range as it has been moving in since March, <a href="https://x.com/Morecryptoonl/status/1837175895267659813">according to</a> More Crypto Online, saying, &#8220;Should the price indeed move higher towards $67,000, then the trend line could offer additional resistance.&#8221; 
Steve Courtney thinks Bitcoin's RSI has broken out of its downtrend.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a>&#39;s RSI has broken out of its downtrend! &#x1f680; Watch the previous pivot high at 55 closely. Can it establish a new higher high? &#x1f914;&#x1f51d;<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://t.co/QyI7nNJ26X">pic.twitter.com/QyI7nNJ26X</a>
&mdash; Steve Courtney ~ Crypto Crew University (@CryptoCrewU) <a href="https://twitter.com/CryptoCrewU/status/1837144755299406319?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What&#8217;s Next: The influence of <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a> is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19. Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40963068/bitcoin-bears-are-facing-last-stand-heres-what-technical-analysts-are-saying">Bitcoin Bears Are Facing &#8216;Last Stand&#8217;: Here&#8217;s What Technical Analysts Are Saying</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

$APT

$BTC

$DOGE

$ETH

$SOL

$SUI

$TAO

Bitcoin, Ethereum, Dogecoin With A Meek Close To A Strong Week: 'Test Zones Coming Up For BTC,' Says Trader

Legal

Johnson & Johnson Announced That Its Subsidiary, Red River Talc Has Filed A Voluntary Prepackaged Chapter 11 Case To Resolve All Current And Future Ovarian Cancer Talc Claims

V.F. Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vfc#NYSE">VFC</a>) has provided investors with solid gains, appreciating 31.7% over the past three months. This performance outpaces the industry&#39;s decline of 3.5% and the S&amp;P 500&#39;s 4.4% growth. This gain is attributed to several factors, including its Reinvent transformation program, cost-reduction initiatives and strengthening balance sheet.
One of the most crucial aspects of V.F. Corp&#39;s recent progress is its focus on stabilizing gross margins. While the company continues to face near-term uncertainties, it is encouraged by sequential improvements in sales at Vans, one of VFC&#39;s key brands. Although overall sales have not yet returned to positive territory, the improvement is a promising sign.
Closing at $18.65, the stock trades close to its 52-week high mark of $20.69 touched in December 2023. Moreover, the stock&#39;s current level reflects a premium of 70% from its 52-week low.
The technical indicators show that the stock is trading above both its 50 and 200-day moving averages, indicating strong upward momentum and suggesting sustained investor confidence in the company&#39;s performance.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ee/78684.jpg?v=1617158710" />
Image Source: Zacks Investment Research
<h2>What&#39;s Fueling V.F. Corp&#39;s Stock Rally?</h2>
V.F. Corp remains on track with its Reinvent transformation program, which focuses on brand-building and improving operational performance. The plan targets four key objectives: improving North American performance, turning around the Vans brand, reducing costs and strengthening the balance sheet.
As part of this plan, the company continues to streamline processes and invest in initiatives to drive brand demand and boost growth. In the first quarter of fiscal 2025, V.F. Corp generated $50 million in cost savings through the Reinvent program. This large-scale cost-reduction program is expected to deliver $300 million in fixed cost savings by reducing expenditure in non-strategic areas, and simplifying and right-sizing its structure in the first half of fiscal 2025.
The company&#39;s strategic approach to selling the Supreme brand marks a significant shift, aims to refocus on its core business and improve operational efficiency. The company acknowledges that Supreme lacked synergy with its broader portfolio, leading to its divestiture. This move will help V.F. streamline its operations and enhance financial flexibility by reducing leverage.
<h2>VFC Stock&#39; Promising Outlook</h2>
V.F. Corp is set to benefit from its growth plan for fiscal 2023-2027. It expects revenues to witness a mid-to-high single-digit CAGR and earnings to record a high single to low double-digit CAGR. The company projects an operating margin of 15% by fiscal 2027, supported by gross margin expansion and lower SG&amp;A expenses.
A key component of V.F. Corp&#39;s recovery strategy is the revitalization of the Vans brand, which has encountered challenges in recent years. Analysts are optimistic, forecasting that the company will start to see gradual improvements in its fundamentals in the next four to six quarters.
While it is too early to declare a complete turnaround, we believe 2025 could mark a turning point for the brand, which is critical to the company&#39;s broader recovery efforts.
<h2>Near-Term Concerns for VFC Stock</h2>
V.F. Corp&#39;s first-quarter fiscal 2025 results were affected by a tough operating environment, and dismal performance across regions, channels and brands. This led to a decline in sales 9% year over year and 8% in constant currency. The decline was the result of soft performance across regions and channels, despite sequential improvement.
V.F. Corp is facing challenges with its well-known brands, The North Face and Vans. Both brands, once reliable revenue drivers, are experiencing declining sales and struggling to connect with their core customer bases. For The North Face, the issues arise from shifting consumer preferences and heightened competition in the outdoor apparel market. The brand has found it difficult to maintain its premium positioning while trying to appeal to a broader audience.
Vans, meanwhile, is dealing with a saturated sneaker market and a decline in its appeal among younger customers. However, a recovery strategy is in place, and there are expectations for improvement in the near term.
<h2>Three Picks You Can&#39;t Miss</h2>
VFC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Consumer Discretionary space are Wolverine World Wide, GIII Apparel Group and Steven Madden, Ltd.
Wolverine World Wide designs, manufactures and distributes a wide variety of casual and active apparel and footwear. The company sports a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for WWW&#39;s current financial-year sales indicates a decline of almost 23% from the year-ago reported figures. The consensus mark for EPS reflects significant growth to 85 cents from 5 cents reported in the prior year. WWW has a trailing four-quarter earnings surprise of 7.5%, on average.
G-III Apparel is a manufacturer, designer and distributor of apparel and accessories under licensed brands, owned brands and private label brands. It carries a Zacks Rank #1 at present.
GIII Apparel has a trailing four-quarter earnings surprise of 118.2%, on average. The Zacks Consensus Estimate for GIII Apparel&#39;s current financial-year sales indicates growth of 3.3% from the year-ago figure.
Steven Madden designs, sources, markets and sells fashion-forward name-brand and private-label footwear. It currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Steven Madden&#39;s 2024 earnings and sales indicates growth of 6.9% and 12.6%, respectively, from the year-ago actuals. SHOO has a trailing four-quarter average earnings surprise of 9.5%.
<a href="https://www.zacks.com/stock/news/2339428/v-f-corp-stock-gains-30-in-3-months-what-s-next-for-investors?cid=CS-BENZ-FT-analyst_blog|rank_focused-2339428">To read this article on Zacks.com click here.</a>

Earnings

Small Cap

Analyst Ratings

V.F. Corp Stock Gains 30% in 3 Months: What's Next for Investors?

Whales with a lot of money to spend have taken a noticeably bearish stance on MercadoLibre.
Looking at options history for MercadoLibre (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $114,566 and 10, calls, for a total amount of $527,475.
<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 $1400.0 to $2160.0 for MercadoLibre during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for MercadoLibre options trades today is 28.5 with a total volume of 12.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for MercadoLibre's big money trades within a strike price range of $1400.0 to $2160.0 over the last 30 days.
<h3>MercadoLibre 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860808_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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$583.7</td>
<td>$568.9</td>
<td>$576.68</td>
<td>$1530.00</td>
<td>$115.3K</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$610.8</td>
<td>$602.6</td>
<td>$607.0</td>
<td>$1500.00</td>
<td>$60.7K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$609.2</td>
<td>$601.3</td>
<td>$604.83</td>
<td>$1500.00</td>
<td>$60.4K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$608.3</td>
<td>$602.0</td>
<td>$602.0</td>
<td>$1500.00</td>
<td>$60.2K</td>
<td style="text-align: right;">36</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$608.7</td>
<td>$595.3</td>
<td>$600.96</td>
<td>$1500.00</td>
<td>$60.0K</td>
<td style="text-align: right;">36</td>
<td style="text-align: right;">2</td>
</tr>
</tbody>
</table>

<h3>About MercadoLibre</h3>
MercadoLibre runs the largest e-commerce marketplace in Latin America, with more than 218 million active users and 1 million active sellers across 18 countries stitching into its commerce network or fintech solutions as of the end of 2023. The company operates a host of complementary businesses to its core online shop, with shipping solutions (Mercado Envios), a payment and financing operation (Mercado Pago and Mercado Credito), advertisements (Mercado Clics), classifieds, and a turnkey e-commerce solution (Mercado Shops) rounding out its arsenal. MercadoLibre generates revenue from final value fees, advertising royalties, payment processing, insertion fees, subscription fees, and interest income from consumer and small-business lending.
Following our analysis of the options activities associated with MercadoLibre, we pivot to a closer look at the company's own performance.
<h3>MercadoLibre's Current Market Status</h3>
<ul>
<li>Trading volume stands at 155,798, with MELI's price up by 0.17%, positioned at $2112.97.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 40 days.</li>
</ul>
<h3>Expert Opinions on MercadoLibre</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $2470.0.
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; An analyst from Susquehanna persists with their Positive rating on MercadoLibre, maintaining a target price of $2350. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on MercadoLibre, which currently sits at a price target of $2500. 
&#x2A; Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for MercadoLibre, targeting a price of $2500. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $2530. 
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 MercadoLibre options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

MELI

This Is What Whales Are Betting On MercadoLibre

Financial giants have made a conspicuous bullish move on Qualcomm. Our analysis of options history for Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) revealed 12 unusual trades.
Delving into the details, we found 58% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $194,169, and 8 were calls, valued at $548,085.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $200.0 for Qualcomm during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 847.9 with a total volume of 304.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $140.0 to $200.0 over the last 30 days.
<h3>Qualcomm 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860803_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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$30.45</td>
<td>$30.05</td>
<td>$30.45</td>
<td>$140.00</td>
<td>$274.0K</td>
<td style="text-align: right;">259</td>
<td style="text-align: right;">17</td>
</tr>
<tr>
<td>QCOM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$13.25</td>
<td>$13.15</td>
<td>$13.25</td>
<td>$175.00</td>
<td>$66.2K</td>
<td style="text-align: right;">732</td>
<td style="text-align: right;">60</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$18.5</td>
<td>$18.2</td>
<td>$18.38</td>
<td>$160.00</td>
<td>$64.3K</td>
<td style="text-align: right;">381</td>
<td style="text-align: right;">46</td>
</tr>
<tr>
<td>QCOM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$31.8</td>
<td>$31.05</td>
<td>$31.8</td>
<td>$200.00</td>
<td>$63.6K</td>
<td style="text-align: right;">124</td>
<td style="text-align: right;">20</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$27.6</td>
<td>$26.65</td>
<td>$27.55</td>
<td>$180.00</td>
<td>$55.1K</td>
<td style="text-align: right;">901</td>
<td style="text-align: right;">31</td>
</tr>
</tbody>
</table>

<h3>About Qualcomm</h3>
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
After a thorough review of the options trading surrounding Qualcomm, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Qualcomm Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 5,937,818, with QCOM's price down by -0.71%, positioned at $172.69.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 40 days.</li>
</ul>
<h3>Professional Analyst Ratings for Qualcomm</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $210.0.
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; Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Qualcomm, targeting a price of $210. 
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 Qualcomm options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

QCOM

This Is What Whales Are Betting On Qualcomm

Financial giants have made a conspicuous bullish move on First Solar. Our analysis of options history for First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) revealed 14 unusual trades.
Delving into the details, we found 42% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $1,215,907, and 5 were calls, valued at $167,234.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $190.0 to $270.0 for First Solar over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</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 First Solar'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 First Solar's whale activity within a strike price range from $190.0 to $270.0 in the last 30 days. 
<h3>First Solar 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860797_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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$23.3</td>
<td>$22.8</td>
<td>$22.8</td>
<td>$230.00</td>
<td>$228.0K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">556</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$23.2</td>
<td>$22.45</td>
<td>$22.45</td>
<td>$230.00</td>
<td>$224.5K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">101</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$22.65</td>
<td>$21.4</td>
<td>$22.6</td>
<td>$230.00</td>
<td>$212.4K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">207</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$23.0</td>
<td>$22.8</td>
<td>$22.8</td>
<td>$230.00</td>
<td>$200.6K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">268</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$22.75</td>
<td>$22.6</td>
<td>$22.6</td>
<td>$230.00</td>
<td>$113.0K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">216</td>
</tr>
</tbody>
</table>

<h3>About First Solar</h3>
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.
After a thorough review of the options trading surrounding First Solar, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of First Solar</h3>
<ul>
<li>Currently trading with a volume of 943,307, the FSLR's price is down by -1.93%, now at $235.8. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 39 days.</li>
</ul>
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>.
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 First Solar, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

FSLR

Smart Money Is Betting Big In FSLR Options

Many plan to work well into their 60s or even 70s, thinking they can compensate for years of undersaving. But according to recent surveys, retirement may come earlier than expected for many Americans – whether they're <a href="https://www.benzinga.com/personal-finance/24/05/38761475/retire-early-or-retire-rich-man-asks-whether-its-better-to-retire-at-40-with-125-000-a-year-or-a">ready for it or not.</a>
The average retirement age in the U.S. is about 62 years old, even though most workers expect to retire around 67. In fact, more than 56% of retirees left the workforce earlier than they planned, according to a Transamerica survey. So, what's causing this <a href="https://www.benzinga.com/personal-finance/24/09/40800774/gen-xs-looming-retirement-crisis-is-worse-than-they-realize-expert-compares-it-to-being-handed-a">gap between expectations and reality</a>?
Don' Miss:
<ul>
<li>The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>
Health is a big factor. Roughly 38% of early retirees say they had to stop working because of health issues or disabilities. This isn't always part of the plan, but sudden medical conditions or ongoing health problems can change things quickly. This is a reality many don't account for when imagining working into their late 60s or 70s.
Then there's the job market itself. Fourteen percent of those who retired early did so after being laid off; for many, finding another job isn't appealing or feasible. 
Trending: <a href="https://www.benzinga.com/money/charlie-munger-100k">Charlie Munger said if you want to be rich, &#8220;find a way to get your hands on $100,000&#8221; — here&#8217;s what he means.</a>
Companies downsize, industries change and job security becomes less certain as people age, making retirement sometimes <a href="https://www.benzinga.com/personal-finance/24/07/39892121/top-economist-debunks-myth-you-need-1-46-million-to-retire-argues-you-can-retire-comfortably-wit">less of a choice and more of a necessity</a>.
In addition to these reasons, life events – like family changes or unexpected financial shifts – can also force people to reconsider their plans. Some may find they've saved enough to retire early, but for most, it's often a mix of circumstance and necessity that leads them there.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Financially, retiring earlier than planned can be a challenge. Many people end up dipping into their savings sooner than expected, which stretches their retirement funds thinner over a longer period. According to various reports, the average American retiree has around $269,078 saved for retirement, far below what's typically recommended. Financial planners suggest a target of around $572,000 and that gap can mean tough choices down the road.
Additionally, if people claim Social Security benefits before they hit their full retirement age – 67 for many – they'll see a permanent reduction in monthly benefits. Plus, if they retire before Medicare eligibility kicks in at 65, they may <a href="https://www.benzinga.com/personal-finance/24/08/40624190/aon-predicts-9-increase-in-employer-health-care-costs-for-2025-heres-whats-fueling-the-spike">face higher health care costs</a> or gaps in coverage.
Trending: Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a>
So, what does this all mean? Planning to work longer might not be the foolproof strategy some hope it will be. Between health issues, layoffs and other unexpected life events, early retirement happens to more people than you might think. And without enough savings, the <a href="https://www.benzinga.com/personal-finance/24/07/39866450/the-average-retiree-spends-over-52-000-a-year-and-75-of-that-goes-to-just-five-expenses-how-does">financial picture</a> can get complicated fast.&nbsp;
While everyone's situation is different, having a backup plan and saving more now might be the safest bet for those who want more control when they retire. It's always smart to reassess your retirement plan and <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">consulting with a financial advisor</a> can give you a clearer picture of where you stand. They can help you adjust your savings strategy, review your investment options and ensure you're prepared for any surprises that could force early retirement. 
Read Next:
<ul>
<li>A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a></li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
</ul>

Personal Finance

Most People Expect To Retire at 67, But 56% Retire Sooner – Can You Guess the Actual Average Retirement Age?

W.W. Grainger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWW#NYSE">GWW</a>) has outperformed the market over the past 5 years by 15.22% on an annualized basis producing an average annual return of 29.13%. Currently, W.W. Grainger has a market capitalization of $50.23 billion. 
Buying $1000 In GWW: If an investor had bought $1000 of GWW stock 5 years ago, it would be worth $3,534.58 today based on a price of $1028.81 for GWW at the time of writing.
<h3>W.W. Grainger's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860639_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In W.W. Grainger 5 Years Ago Would Be Worth Today

Centene (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) has outperformed the market over the past 20 years by 5.58% on an annualized basis producing an average annual return of 14.06%. Currently, Centene has a market capitalization of $39.78 billion. 
Buying $100 In CNC: If an investor had bought $100 of CNC stock 20 years ago, it would be worth $1,562.27 today based on a price of $75.63 for CNC at the time of writing.
<h3>Centene's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860634_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,600 Today

Lennar Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/len#NYSE">LEN</a>) reported third-quarter fiscal 2024 results, wherein its earnings and revenues surpassed the Zacks Consensus Estimate.
On a year-over-year basis, revenues increased, given the company&#39;s emphasis on maintaining a steady production rate to drive sales momentum. Lennar strategically utilized pricing, incentives, marketing expenditure and dynamic pricing insights to ensure steady sales volume despite fluctuations in interest rates.
However, earnings fell by a cent from the year-ago period. LEN&#39;s stock plunged 2.4% in the after-hours trading session on Sept. 19. Investors&#39; sentiments might have been hurt by lower earnings and gross margin in the fiscal third quarter, as well as tepid fiscal fourth-quarter guidance.
<h2>Quarterly Numbers</h2>
LEN reported adjusted earnings per share (excluding mark-to-market gains on technology investments and one-time items in its Multifamily segment) of $3.90, which topped the Zacks Consensus Estimate of $3.62 by 7.7%. The metric, however, slipped 0.3% year over year from $3.91 per share.
<div class="chart_embed">
<h3>Lennar Corporation Price, Consensus and EPS Surprise</h3>
<img alt="Lennar Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/fa/1726841318.png" style="height:265px; width:589px" title="" />
Lennar Corporation price-consensus-eps-surprise-chart | Lennar Corporation Quote
Revenues of $9.42 billion topped the Zacks Consensus Estimate of $9.29 billion by 1.4% and rose 7.9% year over year from $8.73 billion.
</div>
<h2>Segment Details</h2>
Homebuilding: Revenues of the segment totaled $9.05 billion, up 8.7% from the prior-year quarter. Under the Homebuilding umbrella, home sales contributed $9.02 billion to total revenues, up 8.8% from a year ago.
Land sales accounted for $19.5 million, down from $20.4 million in the prior-year quarter. The Other homebuilding unit contributed $8.6 million to homebuilding revenues, down from $12.3 million a year ago.
Home deliveries for the reported quarter improved 16% from the year-ago level to 21,516 units. The reported figure was better than our projection of 20,598 units for the quarter. The average sales price&nbsp;of homes delivered was $422,000, down 5.8% from the year-ago figure due to pricing to market through an increased use of incentives and product mix. Our model had predicted ASP to be $432,910 for the fiscal third quarter.
New orders rose 5% from the year-ago quarter to 20,587 homes. However, the potential value of net orders fell 0.9% year over year to $8.56 billion.
Backlog at the fiscal third-quarter end declined 20.5% from the year-ago quarter to 16,944 homes. Potential housing revenues from backlog decreased 21.4% year over year to $7.75 billion.
The gross margin on home sales was 22.5% for the quarter, down 190 basis points (bps). Notably, the reported figure came below our projection of 23% for the quarter. The decline was mainly due to decreased revenues per square foot and increased land costs year over year.
SG&amp;A expenses &mdash; as a percentage of home sales &mdash; decreased 30 bps to 6.7% due to a decrease in broker commissions and benefits of LEN&#39;s technology efforts.
Financial Services: The segment&#39;s revenues increased year over year to $273.3 million from $266.2 million for the reported quarter. Operating earnings for the quarter increased to $144.4 million from $149 million a year ago.
Lennar Multi-Family: Revenues of $93.4 million in the segment were down from $137.4 million in the prior-year quarter. The segment registered operating earnings of $78.9 million for the quarter against a loss of $8.7 million a year ago.
Lennar Other: The segment&#39;s revenues totaled $3.6 million, significantly down from $7.4 million a year ago. Its operating earnings were $20.1 million for the quarter against a loss of $26.2 million a year ago.
<h2>Financials</h2>
At the fiscal third-quarter end, Lennar had homebuilding cash and cash equivalents of $4.04 billion, down from $6.27 billion at the end of fiscal 2023. LEN has no outstanding borrowings under the $2.2 billion revolving credit facility, thereby providing $6.2 billion of liquidity.
The total homebuilding debt was $2.26 billion as of the fiscal third-quarter end, down from $2.82 billion at the fiscal 2023-end. Homebuilding debt to capital at the fiscal third-quarter end was 7.6%, down from 9.6% at the fiscal 2023-end.
LEN repurchased 3.4 million shares for $519 million in the fiscal third quarter.
<h2>Guidance</h2>
For fourth-quarter fiscal 2024, the company expects deliveries within 22,500-23,000 homes, depicting a fall from 23,795 homes delivered in the year-ago period. The company expects the ASP of the delivered units to be nearly $425,000, down from an ASP of $441,000 reported a year ago.
The gross margin on home sales is expected to be flat year over year. SG&amp;A expenses, as a percentage of home sales, are likely to be in the range of 6.7-6.8% for the quarter. In the prior year, gross margin was 24.2%, and SG&amp;A was 6.6%.
New orders are likely to be within 19,000-19,300 units, up from 17,366 homes reported a year ago.
Financial Services operating earnings are expected to be around $140 million, down from $168 million a year ago.
<h2>LEN&#39;s Zacks Rank &amp; Stocks to Consider</h2>
Lennar currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space are M/I Homes, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mho#NYSE">MHO</a>), Meritage Homes Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mth#NYSE">MTH</a>)&nbsp;and PulteGroup, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>). Each stock presently carries a Zacks Rank #2 (Buy).
M/I Homes is a Columbus, OH-based homebuilder that engages in the construction and sale of single-family residential homes.
MHO&#39;s EPS estimates for 2024 have increased to $19.76 from $19.58 over the past 30 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average being 4.8%. MHO&#39;s earnings are expected to rise 21.9% year over year in 2024.
Meritage Homes is a Scottsdale, AZ-based company that designs and builds single-family attached and detached homes.
MTH&#39;s EPS estimates for 2024 have increased to $21.09 from $20.33 over the past 60 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 21.5%. MTH&#39;s earnings are expected to rise 5.8% year over year in 2024.
PulteGroup is an Atlanta, GA-based homebuilder engaged in homebuilding and financial services businesses.
PHM&#39;s EPS estimates for 2024 have increased to $13.36 from $12.85 over the past 60 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 10%. PHM&#39;s earnings are expected to rise 14% year over year in 2024.
<a href="https://www.zacks.com/stock/news/2339343/lennar-q3-earnings-revenues-beat-stock-down-on-tepid-q4-view?cid=CS-BENZ-FT-analyst_blog|earnings_article-2339343">To read this article on Zacks.com click here.</a>

Earnings Beats

Guidance

Lennar Q3 Earnings & Revenues Beat, Stock Down on Tepid Q4 View

Onconetix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) shares are trading lower by 29.9% to 8 cents Friday after the company announced a <a href="https://www.benzinga.com/pressreleases/24/09/g40961281/onconetix-inc-announces-1-for-40-reverse-stock-split-and-results-of-the-annual-meeting-of-stockhol">1-for-40 reverse stock split</a>. The company announced that its stockholders approved all proposals at the 2024 annual meeting held on September 5.
What Happened: These approvals included the election of Timothy Ramdeen and Ajit Singh as directors for a three-year term, amendments to the company's 2022 Equity Incentive Plan to increase the number of shares issuable, and authorization for a reverse stock split at a ratio ranging from 1-for-30 to 1-for-60. 
The board chose a 1-for-40 ratio, effective September 24, to help the company meet Nasdaq's minimum bid price requirement.
What Else: Other approved measures included the issuance of shares related to the conversion of Series A and Series B Preferred Stock, a private placement, and the assumption of stock options from Proteomedix AG. Stockholders also ratified EisnerAmper LLP as the company's independent auditor for 2024.
The reverse stock split will reduce Onconetix&#8217;s outstanding shares from around 30.2 million to approximately 755,000.
Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40960886/palantir-dell-to-join-s-p-500-friday-heres-how-tesla-stock-has-performed-since-its-add">Palantir, Dell To Join S&amp;P 500 Friday: Here&#8217;s How Tesla Stock Has Performed Since Its Addition In 2020</a>
<h2 class="wp-block-heading">Is ONCO A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/ONCO">Onconetix</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Onconetix does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 8.33%, you'll need to buy a share of AMEN Properties by the Sep. 30, 2024. Once done, you can expect to receive a nominal payout of $10.0 on Oct. 7, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/ONCO">Onconetix</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, ONCO has a 52-week high of $0.54 and a 52-week low of $0.08.

ONCO

Why Onconetix (ONCO) Shares Are Down 27%

INTC

Wall Street Journal Reported Qualcomm Approached Intel About A Takeover

On Friday, the Federal Trade Commission (FTC) filed a formal complaint against three major pharmacy benefit managers (PBMs)—CVS Health Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) Caremark, Cigna Corp&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) Express Scripts, and UnitedHealth Group Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) Optum—for allegedly engaging in unfair and anti-competitive practices that have inflated the list <a target="_blank" href="https://www.benzinga.com/government/24/07/39695378/ftc-investigation-uncovers-anti-competitive-practices-by-handful-of-pharmacy-benefit-managers-includ" rel="noreferrer noopener">price of insulin medications</a>.
The <a target="_blank" href="https://www.ftc.gov/news-events/news/press-releases/2024/09/ftc-sues-prescription-drug-middlemen-artificially-inflating-insulin-drug-prices" rel="noreferrer noopener">complaint</a> accuses the PBMs of creating a system that benefits them financially by prioritizing drug rebates, forcing patients to pay higher costs for life-saving insulin. These PBMs, referred to as the Big Three, administer around 80% of prescriptions in the U.S.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/05/38564498/federal-trade-commission-targets-junk-patent-listings-for-diabetes-weight-loss-asthma-drugs-from-" rel="noreferrer noopener">Federal Trade Commission Targets &#8216;Junk Patent Listings&#8217; For Diabetes, Weight Loss, Asthma Drugs From Companies Like Novo Nordisk, AstraZeneca</a>.
The FTC claims that the PBMs abused their market power to inflate insulin prices by promoting a rebate system with drug manufacturers.
This system led to the exclusion of lower-priced insulin from formularies, further driving up the cost for vulnerable patients.
The result is higher out-of-pocket expenses for those needing essential diabetes medication.
For example, the list price of Eli Lilly And Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Humalog rose dramatically from $21 in 1999 to over $274 in 2017.
Despite the availability of lower-priced alternatives, PBMs favored higher-priced drugs due to the lucrative rebates they provided.
The FTC is also examining the role of drug manufacturers, including Eli Lilly, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), and Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), in driving up insulin prices, signaling potential further action against these companies.
The rebate-driven system excluded lower-priced insulins and allowed the Big Three PBMs to keep significant revenue in the form of rebates and fees, a strategy that hurt patients while benefiting the PBMs financially.
Vulnerable patients, such as those with high deductibles or coinsurance, bore the brunt of these inflated costs, paying more for their insulin than the overall net cost to insurers.
Price Action: At last check Friday, CVS stock was down 1.61% at $57.49, UNH stock was down 0.29% at $575.39, and CI stock was up 0.07% at $357.52.
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Photo by towfiqu barbhuiya via unsplash

Large Cap

US Federal Trade Commission Sues CVS Health, Cigna, UnitedHealth's Pharmacy Benefit Managers For Inflating Insulin Prices

Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) announced that the FDA issued a complete response letter&nbsp;to its new drug application (NDA) seeking approval for its pipeline candidate, tradipitant for the treatment of symptoms in gastroparesis.
Shares of the company were down 6.1% on Sept. 19 following the announcement of the news.
Marked by delayed gastric emptying, gastroparesis is a serious condition that slows down the stomach&#39;s ability to empty its contents. The FDA has not approved any effective medicine for treating gastroparesis in more than 40 years.
Year to date, shares of Vanda have increased 10.2% compared with the industry&#39;s rise of 0.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4a/78570.jpg?v=840412258" />
Image Source: Zacks Investment Research
<h2>More on FDA&#39;s CRL for VNDA&#39;s Tradipitant</h2>
Per the CRL, the FDA called for Vanda to conduct additional studies on tradipitant with a design that was inconsistent with the advice of key experts in the field and not appropriate based on the scientific understanding of the disease.
Also, per management, the FDA delayed its decision by more than 185 days and failed to meet the requirements specified by the Food Drug and Cosmetic Act (FDCA).
Notably, the FDCA requires that the FDA review an NDA and provide either an approval or a possible hearing within 180 days of the filing. The FDA failed to do either.
Per the company, it had time and again asked the FDA to hold an advisory committee meeting to discuss the NDA for tradipitant while the regulatory body declined.
Several patients treated with tradipitant have now filed a Citizen Petition pleading with the regulatory body to approve tradipitant for the treatment of gastroparesis.
<h2>VNDA&#39;s Development Plans for Tradipitant</h2>
Despite the FDA declining to approve tradipitant for treating symptoms in gastroparesis, the company will continue to pursue the marketing approval for tradipitant in the given indication.
Apart from gastroparesis, VNDA is also developing tradipitant for preventing vomiting induced by motion sickness.
In May 2024, the company announced positive data from a second phase III study that investigated tradipitant for preventing vomiting induced by motion sickness.
Vanda plans to submit an NDA for tradipitant to the FDA for the treatment of motion sickness later in 2024.
<h2>Zacks Rank &amp; Stocks to Consider</h2>
Vanda currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the biotech sector are Illumina, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ilmn#NASDAQ">ILMN</a>), Krystal Biotech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krys#NASDAQ">KRYS</a>) and Fulcrum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fulc#NASDAQ">FULC</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
In the past 60 days, estimates for Illumina&#39;s 2024 earnings per share have moved up from $1.84 to $3.63. Earnings per share estimates for 2025 have improved from $3.22 to $4.43. Year to date, shares of ILMN have lost 3.5%.
ILMN&#39;s earnings beat estimates in each of the trailing four quarters, with the average surprise being 463.46%.
In the past 60 days, estimates for Krystal Biotech&#39;s 2024 earnings per share have increased from $2.09 to $2.38. Earnings per share estimates for 2025 have improved from $4.33 to $7.31. Year to date, shares of KRYS have risen 48.7%.
KRYS&#39; earnings beat estimates in three of the trailing four quarters while missing on the remaining occasion, with the average surprise being 45.95%.
In the past 60 days, estimates for Fulcrum Therapeutics&#39; 2024 loss per share have narrowed from $1.33 to 28 cents. Loss per share estimates for 2025 have narrowed from $1.71 to $1.14. Year to date, shares of FULC have plunged 48.9%.
FULC&#39;s earnings beat estimates in each of the trailing four quarters, with the average surprise being 393.18%.
<a href="https://www.zacks.com/stock/news/2339326/vnda-stock-down-as-fda-rejects-nda-for-tradipitant-in-gastroparesis?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2339326">To read this article on Zacks.com click here.</a>

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VNDA Stock Down as FDA Rejects NDA for Tradipitant in Gastroparesis

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