Great Elm Capital Corp. - 5.875% Notes due 2026 Stock (NASDAQ: GECCO)

Great Elm Capital Corp. - 5.875% Notes due 2026 Stock (NASDAQ:GECCO), Trade Ideas

Great Elm Capital Corp. - 5.875% Notes due 2026

"Mad Money" host Jim Cramer had a strong reaction after new data revealed Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) had a <a href="https://www.benzinga.com/news/24/04/38354891/apple-shot-itself-in-the-foot-telegram-founder-says-cupertino-iphone-market-share-in-china-will-keep'">dismal start to 2024</a>, facing a 19.1% drop in iPhone sales in China.
What Happened: Apple's iPhone sales in China nosedived 19.1% in the first three months of 2024, with its market share witnessing a significant decline to 15.7% from 19.7% a year ago, according to <a href="https://www.counterpointresearch.com/insights/china-smartphone-q1-2024/">data</a> from Counterpoint Research.
This is Apple's worst performance since 2020, largely due to the impact of Huawei Technologies Co.&#8217;s new <a href="https://www.benzinga.com/markets/equities/24/04/38308198/apples-falling-iphone-sales-have-another-challenge-to-deal-with-as-huawei-launches-new-phones">product launches</a> in the premium segment.
Huawei&#8217;s sales surged by 70% in the same period.
Cramer reacted to the news, saying, "Another day another ‘dump on Apple iPhone' day. This time it is a China survey that shows sales dropped 20%."
He thinks Apple's stock "could see $160."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Apple has lost its position as the leading smartphone seller in China to Vivo, slipping to third place in the quarter, behind Honor. Huawei is a close fourth, with a 15.5% market share, compared to Apple's 15.7% share.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another day another &quot;dump on Apple I-phone&quot; day. This time it is a China survey that shows sales dropped 20% I reiterate we could see $160&#8230;.
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1782678262759530658?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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"Apple's sales were subdued during the quarter as Huawei's comeback has directly impacted Apple in the premium segment," said Counterpoint's senior research analyst, Ivan Lam, adding that another factor that contributed to softer iPhone sales was subdued replacement demand.
Read Next: <a href="https://www.benzinga.com/news/24/04/38372183/meta-takes-a-leaf-out-of-googles-playbook-aims-to-make-quest-os-the-android-of-mixed-reality">Meta Takes A Leaf Out Of Google&#8217;s Playbook, Aims To Make Quest OS The Android Of Mixed Reality</a>
Apple&#8217;s market share loss in China follows a <a href="https://www.benzinga.com/news/24/04/38241349/apples-iphone-shipments-dip-10-while-overall-market-grows-7-8-samsung-reclaims-top-spot">nearly 10% drop</a> in global smartphone shipments in the first quarter of 2024, as reported earlier this month.
Why It Matters: The recent decline in Apple&#8217;s China sales is not an isolated event. The company&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37957183/jim-cramer-says-owning-apple-will-hurt-right-now-as-iphones-sales-slide-30-in-china">iPhone sales in China fell by 33%</a> year-on-year in February, prompting concerns from industry experts like <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37957183/jim-cramer-says-owning-apple-will-hurt-right-now-as-iphones-sales-slide-30-in-china">Cramer</a> about the stock&#8217;s performance.
Despite these challenges, analysts like Ananda Baruah of Loop Capital believe that Apple&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38203000/apple-at-some-risk-of-first-revenue-drop-in-a-decade-says-analyst-iphone-unit-shipm">fortunes could soon turn around</a>, especially with steady iPhone production in other key markets.
Wedbush's Dan Ives believes the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38203000/seeds-for-apples-turnaround-in-china-are-being-planted-says-wedbushs-dan-ives-some-">"seeds" for Apple's turnaround</a> in China are "being planted" while Deepwater Asset Management's Gene Munster believes Tim Cook's recent China visit is a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37903418/tim-cooks-recent-visit-to-china-was-to-send-out-a-clear-message-to-xi-jinping-says-">message to Xi Jinping</a> that Cupertino is "committed to China."
Price Action: Apple's shares were trading 0.13% in the green in premarket trading on Tuesday after closing at $165.84 on Monday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38248780/apple-bull-dan-ives-says-robust-tech-earnings-season-ahead-not-the-time-to-run-time">Apple Bull Dan Ives Says &#8216;Robust&#8217; Tech Earnings Season Ahead: &#8216;Not The Time To Run&#8230;Time To Own The Winners&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

Equities

News

Price Target

Markets

Analyst Ratings

Tech

AAPL

Jim Cramer Weighs In After iPhone Sales Reportedly Plummet 19% In China In Q1: 'Another Dump On Apple iPhone Day'

PulteGroup, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) shares are trading higher after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38374279/pultegroup-inc-reports-first-quarter-2024-financial-results" rel="noreferrer noopener">first-quarter FY24&nbsp;results</a>.
Revenue stood at $3.95 billion, beating the consensus of $3.58 billion.
Reported home sale revenues rose 10% Y/Y to $3.8 billion, with higher revenues reflecting an 11% increase in closings to 7,095 homes, partly offset by a 1% Y/Y drop in average sales price to $538,000.
The gross margin for home sales stood at&nbsp;29.6%, increasing by 50 basis points Y/Y, benefiting from ongoing strength in homebuyer demand and a favorable geographic mix of homes.
Net new orders increased 14% Y/Y to 8,379 homes. The cancellation rate dropped to 10% of the backlog at the start of the period, a decrease from 13% in the first quarter of the previous year.
GAAP EPS rose 32% Y/Y to $3.10. Adjusted EPS of $2.87 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $2.36</a>.
PulteGroup&#8217;s&nbsp;quarter-end backlog was 13,430 homes, valued at $8.2 billion. The company ended the year with $1.8 billion of cash and a debt-to-capital ratio of&nbsp;15.4%.&nbsp;
During the quarter, the company repurchased 2.3 million of its common shares for $246 million, or an average price of $106.73 per share.
&#8220;Given PulteGroup&#8217;s broad operating platform and deep product portfolio, along with the powerful incentive programs we can offer to help improve the overall affordability equation, we are well positioned to expand our market share while helping to provide much needed new housing stock.&#8221; said Ryan Marshall, PulteGroup President and CEO.
Investors can gain exposure to the stock via IShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) and Invesco Building &amp; Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKB#NYSE">PKB</a>). 
Price Action: PHM shares were up 3.9% at $112.14 at last check Tuesday.
Photo: Shutterstock

Earnings

Large Cap

iShares Dow Jones US Homenstruction Index Fund

PowerShares ETF Trust Dynamic Building &nstruction Portfolio

Why Homebuilder PulteGroup Shares Are Higher Today

Roth MKM analyst Chip Moore maintains Itron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITRI#NASDAQ">ITRI</a>) with a Buy and maintains $102 price target.

ITRI

Roth MKM Maintains Buy on Itron, Maintains $102 Price Target

Movers

Trading Ideas

Trump Media & Technology Company Shares Move To Session Lows, Down 10%

Barrington Research analyst James Goss maintains QuinStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNST#NASDAQ">QNST</a>) with a Outperform and raises the price target from $16 to $20.

QNST

Barrington Research Maintains Outperform on QuinStreet, Raises Price Target to $20

Roth MKM analyst Chip Moore maintains Generac Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) with a Neutral and raises the price target from $120 to $135.

GNRC

Roth MKM Maintains Neutral on Generac Hldgs, Raises Price Target to $135

Montreal-based G Mining Ventures (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GMINF#OTCQX">GMINF</a>) is acquiring Reunion Gold&#8216;s (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/RGDFF#OTCQX">RGDFF</a>) Oko West gold project in Guyana in an all-share deal for $638 million. 
What Happened: This acquisition will strengthen the company's foothold in South America and solidify its position as an intermediate <a href="https://www.benzinga.com/topic/gold">gold</a> producer.
&#8220;We are well-positioned to accelerate value creation at Oko West, leveraging our unique expertise in building and operating mines on schedule and budget in the Guiana Shield. The acquisition of Oko West is the second step towards our vision of becoming a leading intermediate gold producer, building on the team&#8217;s success at Tocantinzinho," G Mining CEO Louis-Pierre Gignac <a href="https://assets.ctfassets.net/jj9ent3ck4o2/xVomtJrDRBH5GqTbcoDEp/fe7abccd9b8cd4d9010e39d5554a6867/GMIN_l_Combination_with_Reunion_Gold_I_4.22.2024.pdf">said</a> in a statement.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358074/peter-schiff-warns-against-piling-risk-assets-like-tech-stocks-and-bitcoin-amid-inf">Peter Schiff Warns Against Piling &#8216;Risk Assets&#8217; Like Tech Stocks And Bitcoin Amid Inflation Concerns &#8211; &#8216;Investors Should Be Buying Gold&#8217;</a>
Why It Matters: The Oko West gold project, located 60 miles southwest of Guyana&#8217;s capital, Georgetown, has emerged as a major gold discovery in recent years. 
The site boasts an estimated resource of 64.6 million indicated tons grading 2.05 grams of gold per ton and 19.2 million inferred tons grading 2.59 grams of gold per ton.
With its experienced management team, G Mining should bring technical expertise and financial resources to advance production, given its track record in the Guiana Shield region. 
The company was founded by the Gignac family, whose experience includes building Cambior&#8216;s first South American gold mine in Guyana in the early 1990s.
Additionally, G Mining and Reunion Gold aim to spin off Reunion&#8217;s other assets into a new company. SpinCo, a new exploration company funded with $15 million from G Mining, will focus on acquiring and exploring gold properties outside the immediate 12-mile area of interest surrounding Oko West. It will also target properties in neighboring Suriname, a country already boasting established gold mines like IAMGOLD&#8217;s Rosebel and the aforementioned Merian.
This agreement provides continued exploration opportunities for both companies. G Mining gains a foothold in a broader exploration area, while Reunion Gold shareholders retain exposure to this potential through their ownership in SpinCo.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Now Read: <a href="https://www.benzinga.com/markets/latin-america/24/04/38357624/lithium-boom-a-vote-of-confidence-for-argentinian-economic-turnaround">Eramet&#8217;s $800M Lithium Investment A Vote Of Confidence For Argentinian Economic Turnaround</a>

Commodities

Small Cap

GMINF

RGDFF

G Mining Ventures Spends $638M To Buy Reunion Gold Guyana Project

Barrington Research analyst Alexander Paris maintains Universal Technical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTI#NYSE">UTI</a>) with a Outperform and maintains $18 price target.

Barrington Research Maintains Outperform on Universal Technical, Maintains $18 Price Target

JMP Securities analyst Nicholas Jones reiterates Xometry (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XMTR#NASDAQ">XMTR</a>) with a Market Outperform and maintains $30 price target.

Reiteration

XMTR

JMP Securities Reiterates Market Outperform on Xometry, Maintains $30 Price Target

Trading Halt: Halted at 4:00:00 a.m. ET - Quotation Resumption: IPO Security - Released for Quotation

Barrington Research analyst Vincent Colicchio maintains Insight Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NSIT#NASDAQ">NSIT</a>) with a Outperform and maintains $211 price target.

NSIT

Barrington Research Maintains Outperform on Insight Enterprises, Maintains $211 Price Target

Barrington Research analyst Alexander Paris maintains Adtalem Glb Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATGE#NYSE">ATGE</a>) with a Outperform and maintains $65 price target.

Adtalem Global Education Inc. Common Stock

ATGE

Barrington Research Maintains Outperform on Adtalem Glb Education, Maintains $65 Price Target

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are in the spotlight Tuesday ahead of earnings. Here&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38374783/wall-street-set-to-open-higher-as-tesla-to-kick-off-magnificent-7-earnings-why-this-analyst-thinks-">what you need to know</a>.
What To Know: Tesla shares hit new 52-week lows on Monday, a day ahead of earnings. The stock has been facing heavy selling pressure in recent months due to waning EV demand trends. The EV maker has reported <a href="https://www.benzinga.com/news/earnings/24/01/36768363/tesla-q4-earnings-highlights-revenue-miss-eps-miss-model-y-a-global-bestseller-next-gen-vehicle-upd#">weak quarterly results</a> in two straight quarters and many analysts are concerned the company will turn in disappointing results after the bell.
GLJ Research analyst&nbsp;Gordon Johnson&nbsp;recently warned that Tesla could report its first negative free cash flow quarter since 2020, citing excess production, slowing demand and inventory build problems. Johnson also pointed to continued&nbsp;weakness in insurance registration data&nbsp;out of China as a potential headwind for the company.
Wedbush&#8217;s&nbsp;Dan Ives&nbsp;recently referred to this earnings report as a fork in the road for Tesla. The analyst said the Street needs CEO Elon Musk to explain his rationale for <a href="https://www.benzinga.com/24/04/38349246/should-have-sold-our-entire-tsla-position-says-fund-manager-following-ev-giants-coordinated-global-p">cost cutting</a> and provide a product roadmap and overall vision. Otherwise, the &#8220;Category 5 perfect storm of weak demand&#8221; Tesla is experiencing in 2024 is going to continue to be the story going forward, he said.
Here&#8217;s a look at all of the analyst changes over the last two weeks leading up to earnings:
<ul>
<li>Piper Sandler analyst Alexander Potter maintained Tesla with an Overweight and price target of&nbsp;$205.</li>
</ul>
<ul>
<li>Wedbush analyst Daniel Ives reiterated Tesla with an Outperform and maintained a&nbsp;price target of $300.</li>
</ul>
<ul>
<li>Deutsche Bank analyst Emmanuel Rosner downgraded Tesla from Buy to Hold and lowered the price target from&nbsp;$189&nbsp;to&nbsp;$123.</li>
</ul>
<ul>
<li>Baird analyst Ben Kallo maintained Tesla with an Outperform and&nbsp;price target of $280.</li>
</ul>
<ul>
<li>Barclays analyst Dan Levy maintained Tesla with an Equal-Weight and lowered the price target from&nbsp;$225&nbsp;to&nbsp;$180.</li>
</ul>
<ul>
<li>GLJ Research analyst Gordon Johnson maintained Tesla with a Sell and lowered the price target from&nbsp;$23.53&nbsp;to&nbsp;$22.86.</li>
</ul>
<ul>
<li>Wells Fargo analyst Colin Langan maintained Tesla with an Underweight and lowered the price target from&nbsp;$125&nbsp;to&nbsp;$120.</li>
</ul>
<ul>
<li>Citigroup maintained a Neutral rating on Tesla and lowered the price target to&nbsp;$180</li>
</ul>
The slide in Tesla stock has accelerated in recent weeks. Last week, Tesla shares faced selling pressure on reports the EV maker was planning to lay off more than 10% of its workforce. Separate reports also suggested that&nbsp;Tesla had pushed back the scheduled delivery dates&nbsp;<a href="https://www.benzinga.com/news/24/04/38278972/tesla-stock-falls-as-cybertruck-faces-unexpected-delays" target="_blank" rel="noreferrer noopener">for multiple Cybertruck buyers</a>&nbsp;without providing a reason for the delay.
Tesla shares continued to move lower this week after the company introduced a fresh round of&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38345362/tesla-slashes-model-s-x-and-y-prices-in-us-by-2-000-in-late-friday-move-as-volume-growth-turns-n" target="_blank" rel="noreferrer noopener">price cuts</a>&nbsp;in the U.S., and then slashed prices in a number of other major markets, including China and Germany.
Tesla is expected to report EPS of 51 cents and revenue of $22.33 billion after the market close on Tuesday, according to estimates from&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. Analysts and investors will be paying close attention to margins and the company's outlook.
See Also: <a href="https://www.benzinga.com/news/24/04/38376273/maybe-elon-musk-hints-driverless-teslas-may-debut-in-this-us-state-but-bugs-will-take-few-months-to">&#8216;Maybe:&#8217; Elon Musk Hints Driverless Teslas May Debut In This US State, But Bugs Will Take Few Months To Fix</a>
TSLA Price Action: <a href="https://www.benzinga.com/quote/TSLA" target="_blank" rel="noreferrer noopener">Tesla shares</a> are down about 42% year-to-date. The stock was up 2.08% at $145.01 at the time of writing, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: courtesy of Tesla.

Previews

TSLA

What's Going On With Tesla Stock Ahead Of Earnings Tuesday?

Roth MKM analyst Rohit Kulkarni reiterates Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) with a Neutral and maintains $14 price target.

SNAP

Roth MKM Reiterates Neutral on Snap, Maintains $14 Price Target

In the lead-up to this week&#8217;s earnings announcements from major U.S. tech companies, the CEO of the world&#8217;s largest wealth fund has voiced concerns over the tech sector&#8217;s frothiness. This follows a 5.5% drop in the Nasdaq Composite last week.
What Happened: Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), expressed his views on CNBC&#8217;s &#8220;Squawk Box Europe&#8221; on Tuesday, <a href="https://www.cnbc.com/2024/04/23/tech-ceo-of-worlds-largest-wealth-fund-says-theres-a-lot-of-froth.html">CNBC</a> reported.
He stated, &#8220;There is clearly a lot of froth within the technology sector. Whether it is too much or not, that is unclear — and I guess we will get the answer later in the week when we get all these results coming through.&#8221;
NBIM, which oversees the Norwegian Government Pension Fund Global, is the world&#8217;s largest sovereign wealth fund, valued at 17.7 trillion kroner ($1.6 trillion) at the end of March. The fund, a major global investor, has stakes in over 8,800 companies across more than 70 countries. Last week, it reported a first-quarter profit of around $110 billion, largely due to strong returns on its tech stock investments.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38336261/tesla-musk-face-moment-of-truth-with-q1-earnings-call-believers-are-giving-up-on-th?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla, Musk Face &#8216;Moment Of Truth&#8217; With Q1 Earnings Call: &#8216;Believers Are Giving Up On The Story And Throwing In The White Towel&#8217;</a>
Trond Grande, deputy CEO of NBIM, mentioned that investors are taking &#8220;a more nuanced look&#8221; at the business models of the so-called Magnificent Seven U.S. tech giants, which include Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Why It Matters: The tech sector has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37355192/ai-stocks-including-nvidia-face-bubble-risks-warns-wizard-of-wharton-impossible-to-tell-when-it-">under scrutiny for potential overvaluation</a>, with the &#8220;Wizard of Wharton&#8221; warning of a possible bubble in February. The sector led a market sell-off since Apr. 12, primarily driven by high-profile tech stocks, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38346847/nvidia-in-correction-territory-did-ai-led-tech-stock-bubble-just-burst-this-data-po">which ironically led the rally</a> that began in 2023.
However, the Nasdaq 100 index <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38365322/nasdaq-100-breaks-3-day-losing-streak-as-tech-stocks-rebound-ahead-of-earnings-week">managed to break a three-day losing streak </a>on Monday, as traders prepared for a crucial week of earnings reports from some of the tech sector's most influential names.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38367087/tesla-q1-earnings-preview-is-ev-giant-no-longer-a-growth-stock-analysts-cautious-wa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Preview: Is EV Giant No Longer A &#8216;Growth Stock?&#8217; Analysts Cautious, Want Answers About Robotaxis, Model 2</a>
Image via Shutterstock
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 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
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AMZN

GOOGL

MSFT

NVDA

World's Largest Wealth Fund CEO Cautions Over Tech Sector 'Froth' Ahead Of Major Earnings

JMP Securities analyst Patrick Walravens reiterates Vertex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERX#NASDAQ">VERX</a>) with a Market Outperform and maintains $42 price target.

VERX

JMP Securities Reiterates Market Outperform on Vertex, Maintains $42 Price Target

Cardinal Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>) has outperformed the market over the past 5 years by 5.31% on an annualized basis producing an average annual return of 16.67%. Currently, Cardinal Health has a market capitalization of $24.95 billion. 
Buying $100 In CAH: If an investor had bought $100 of CAH stock 5 years ago, it would be worth $215.89 today based on a price of $102.57 for CAH at the time of writing.
<h3>Cardinal Health's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713882681_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 Cardinal Health 5 Years Ago Would Be Worth This Much Today

Benzinga's options scanner just detected over 10 options trades for ResMed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) summing a total amount of $532,171.
At the same time, our algo caught 3 for a total amount of 179,581.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $175.0 to $200.0 for ResMed 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 ResMed'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 ResMed's whale activity within a strike price range from $175.0 to $200.0 in the last 30 days. 
<h3>ResMed Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713882652_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>RMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$9.0</td>
<td>$8.3</td>
<td>$8.7</td>
<td>$185.00</td>
<td>$96.5K</td>
<td style="text-align: right;">586</td>
<td style="text-align: right;">19</td>
</tr>
<tr>
<td>RMD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$11.8</td>
<td>$10.8</td>
<td>$11.8</td>
<td>$175.00</td>
<td>$70.8K</td>
<td style="text-align: right;">640</td>
<td style="text-align: right;">60</td>
</tr>
<tr>
<td>RMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$3.3</td>
<td>$2.95</td>
<td>$3.2</td>
<td>$195.00</td>
<td>$64.0K</td>
<td style="text-align: right;">295</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>RMD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$12.0</td>
<td>$11.4</td>
<td>$12.0</td>
<td>$175.00</td>
<td>$48.0K</td>
<td style="text-align: right;">640</td>
<td style="text-align: right;">120</td>
</tr>
<tr>
<td>RMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$13.0</td>
<td>$12.6</td>
<td>$12.8</td>
<td>$175.00</td>
<td>$44.8K</td>
<td style="text-align: right;">640</td>
<td style="text-align: right;">200</td>
</tr>
</tbody>
</table>

<h3>About ResMed</h3>
ResMed is one of the largest respiratory care device companies globally, primarily developing and supplying flow generators, masks and accessories for the treatment of sleep apnea. Increasing diagnosis of sleep apnea combined with ageing populations and increasing prevalence of obesity is resulting in a structurally growing market. The company earns roughly two thirds of its revenue in the Americas and the balance across other regions dominated by Europe, Japan and Australia. Recent developments and acquisitions have focused on digital health as ResMed is aiming to differentiate itself through the provision of clinical data for use by the patient, medical care advisor and payer in the out-of-hospital setting.
<h3>Where Is ResMed Standing Right Now?</h3>
<ul>
<li>With a trading volume of 153,131, the price of RMD is up by 1.47%, reaching $183.0.</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 2 days from now.</li>
</ul>
<h3>Expert Opinions on ResMed</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $219.5.
<ul>
<li>An analyst from Mizuho persists with their Buy rating on ResMed, maintaining a target price of $215. </li>
<li>Consistent in their evaluation, an analyst from Needham keeps a Buy rating on ResMed with a target price of $224. </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 ResMed options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

ResMed Unusual Options Activity

Financial giants have made a conspicuous bearish move on Wayfair. Our analysis of options history for Wayfair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) revealed 8 unusual trades.
Delving into the details, we found 12% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $127,350, and 6 were calls, valued at $238,353.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $65.0 for Wayfair over the last 3 months. 
<h3>Volume &amp; Open Interest Development</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 Wayfair'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 Wayfair's whale trades within a strike price range from $25.0 to $65.0 in the last 30 days. 
<h3>Wayfair 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713882647_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>W</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$4.95</td>
<td>$4.8</td>
<td>$4.95</td>
<td>$55.00</td>
<td>$98.9K</td>
<td>830</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>W</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$4.1</td>
<td>$4.0</td>
<td>$4.05</td>
<td>$65.00</td>
<td>$60.7K</td>
<td>5.1K</td>
<td style="text-align: right;">375</td>
</tr>
<tr>
<td>W</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$3.95</td>
<td>$3.85</td>
<td>$3.9</td>
<td>$65.00</td>
<td>$52.6K</td>
<td>5.1K</td>
<td style="text-align: right;">351</td>
</tr>
<tr>
<td>W</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$35.9</td>
<td>$32.75</td>
<td>$34.6</td>
<td>$25.00</td>
<td>$34.6K</td>
<td>724</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>W</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$4.15</td>
<td>$4.1</td>
<td>$4.1</td>
<td>$60.00</td>
<td>$32.8K</td>
<td>4.0K</td>
<td style="text-align: right;">350</td>
</tr>
</tbody>
</table>

<h3>About Wayfair</h3>
Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2023, the firm offered more than 30 million products from more than 20,000 suppliers under the brands Wayfair, Joss &amp; Main, AllModern, Birch Lane, and Perigold. Its offerings include furniture, everyday and seasonal decor, decorative accents, housewares, and other home goods. Wayfair was founded in 2002 and began trading publicly in 2014.
Having examined the options trading patterns of Wayfair, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Wayfair Standing Right Now?</h3>
<ul>
<li>With a trading volume of 673,539, the price of W is up by 5.87%, reaching $57.94.</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 9 days from now.</li>
</ul>
<h3>What The Experts Say On Wayfair</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $75.8.
<ul>
<li>An analyst from Wedbush downgraded its action to Outperform with a price target of $70. </li>
<li>In a cautious move, an analyst from Morgan Stanley downgraded its rating to Overweight, setting a price target of $80. </li>
<li>An analyst from Citigroup persists with their Buy rating on Wayfair, maintaining a target price of $85. </li>
<li>Maintaining their stance, an analyst from Loop Capital continues to hold a Hold rating for Wayfair, targeting a price of $65. </li>
<li>An analyst from Deutsche Bank has decided to maintain their Buy rating on Wayfair, which currently sits at a price target of $79. </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 Wayfair, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Wayfair Unusual Options Activity

Financial giants have made a conspicuous bearish move on Citigroup. Our analysis of options history for Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) revealed 14 unusual trades.
Delving into the details, we found 21% of traders were bullish, while 64% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $650,440, and 12 were calls, valued at $1,000,325.
<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 $45.0 to $62.5 for Citigroup during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Citigroup's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Citigroup's whale trades within a strike price range from $45.0 to $62.5 in the last 30 days. 
<h3>Citigroup Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713882642_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>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>C</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$4.15</td>
<td>$4.05</td>
<td>$4.15</td>
<td>$57.50</td>
<td>$622.0K</td>
<td>2.0K</td>
<td>1</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/31/24</td>
<td>$3.2</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$60.00</td>
<td>$177.0K</td>
<td>8.7K</td>
<td>2.6K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$2.85</td>
<td>$2.73</td>
<td>$2.76</td>
<td>$59.00</td>
<td>$128.3K</td>
<td>13.1K</td>
<td>1.3K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$1.35</td>
<td>$1.3</td>
<td>$1.33</td>
<td>$61.00</td>
<td>$123.7K</td>
<td>13.2K</td>
<td>1.8K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$1.55</td>
<td>$1.48</td>
<td>$1.48</td>
<td>$60.00</td>
<td>$96.7K</td>
<td>7.5K</td>
<td>39</td>
</tr>
</tbody>
</table>

<h3>About Citigroup</h3>
Citigroup is a global financial-services company doing business in more than 100 countries and jurisdictions. Citigroup's operations are organized into five primary segments: services, markets, banking, US personal banking, and wealth management. The bank's primary services include cross-border banking needs for multinational corporates, investment banking and trading, and credit card services in the United States.
<h3>Where Is Citigroup Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 2,725,253, the C's price is up by 1.82%, now at $62.06. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 80 days.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Citigroup with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Unpacking the Latest Options Trading Trends in Citigroup

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Press Releases

Great Elm Capital Corp. Announces First Quarter 2023 Financial Results

Great Elm Capital Corp. Announces Second Quarter 2023 Financial Results

Great Elm Capital Corp. Announces Third Quarter 2023 Financial Results

Great Elm Capital Corp. Announces Fourth Quarter and Full Year 2023 Financial Results