We are a leading provider of market infrastructure and tradable products, delivering cutting-edge trading, clearing and investment solutions to market participants around the world.

CBOE

Edward T. Tilly

Chairman and Chief Executive Officer

John F. Deters

Executive Vice President, Chief Strategy Officer

Greg Hoogasian

Executive Vice President, Chief Regulatory Officer

David Howson

Executive Vice President, Global President, CGM

Chris Isaacson

Executive Vice President, Chief Operating Officer

Brian N. Schell

Executive Vice President, Chief Financial Officer and Treasurer

Patrick Sexton

Executive Vice President, General Counsel and Corporate Secretary

Chairman and Chief Executive Officer and Director

Eugene S. Sunshine

Lead Director

William M. Farrow III

Director

Edward J. Fitzpatrick

Ivan K. Fong

Janet P. Froetscher

Jill R. Goodman

Alexander J. Matturri

Jennifer J. McPeek

Roderick A. Palmore

James E. Parisi

Joseph P. Ratterman

Jill E. Sommers

Fredric J. Tomczyk

The Exchange for the World Stage

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S&P 500 Weeklys Options

About CBOE

Short interest for Cboe Global Markets gives investors a sense of the degree to which investors are betting on the decline of Cboe Global Markets's stock. Short interest data is updated every two weeks.

Cboe Global Markets Stock (BATS:CBOE), Short Interest Report

Cboe Global Markets

NASDAQ

CBOE Holdings

Cboe global Markets, Inc is a provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The Company is committed to operating a trusted, inclusive global marketplace, and to providing leading products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX, and digital assets, across North America, Europe, and Asia Pacific.

Nasdaq, New York City

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Stocks look set to carry forward the upward momentum on Friday amid some earnings cheer, although a tinge of nervousness is evident ahead of the all-important non-farm payrolls report.

Wall Street Looks To Feed Off Apple&#39;s Post-Earnings Power But Key Jobs Data May Upset The Cart: Analyst Says &#39;A Lot Of These Clouds Will Lift&#39; If This Happens

Fintech news covering the emerging Financial Technology services sector

Fintech

MKTX

Coinbase Global (NASDAQ: COIN) is set to report first-quarter 2024 earnings on May 2, after market close. The company delivered an earnings surprise in each of the last four reported quarters.
Let&#39;s discuss the factors that are likely to be reflected in the upcoming quarterly results.


Will Higher Trading Volume Aid Coinbase in Q1 Earnings?

Market

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LSCC

With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.

Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

Cboe Global Markets Inc

Barclays analyst Benjamin Budish maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Overweight and raises the price target from $211 to $215.

Price Target

Analyst Ratings

Barclays Maintains Overweight on Cboe Global Markets, Raises Price Target to $215

Rosenblatt analyst Andrew Bond maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Buy and raises the price target from $200 to $205.

Rosenblatt Maintains Buy on Cboe Global Markets, Raises Price Target to $205

Oppenheimer analyst Owen Lau maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Outperform and maintains $206 price target.

Oppenheimer Maintains Outperform on Cboe Global Markets, Maintains $206 Price Target

2024 Fiscal&nbsp;Year Financial&nbsp;Guidance
Cboe provided&nbsp;guidance&nbsp;for the 2024 fiscal year as noted below.
<ul>
<li>Anticipates higher end of organic total net revenue growth1&nbsp;range of 5 to 7 percentage points in 2024, at the higher end of Cboe&#39;s medium-term organic total net revenue1&nbsp;guidance&nbsp;expectations of 5 to 7 percentage points.</li>
<li>Reaffirms organic net revenue1&nbsp;from Data and Access Solutions is expected to increase by approximately 7 to 10 percentage points in 2024, in line with medium-term&nbsp;guidance&nbsp;expectations of 7 to 10 percentage points.</li>
<li>Adjusted operating expenses1&nbsp;in 2024 are now expected to be in the range of&nbsp;$795&nbsp;to&nbsp;$805 million, down from previous&nbsp;guidance&nbsp;of&nbsp;$798&nbsp;to&nbsp;$808 million. The&nbsp;guidance&nbsp;excludes the expected amortization of acquired intangible assets of&nbsp;$93 million; the company reflects the exclusion of this amount in its non-GAAP reconciliation.</li>
<li>Reaffirms depreciation and amortization expense for 2024 is expected to be in the range of&nbsp;$43&nbsp;to&nbsp;$47 million, excluding the expected amortization of acquired intangible assets.</li>
<li>Reaffirms minority investments are expected to contribute a&nbsp;$37&nbsp;to&nbsp;$43 million&nbsp;benefit in 2024 to non-operating income. Anticipates that&nbsp;$33&nbsp;to&nbsp;$37 million&nbsp;of the benefit will come in the earnings in investments line and&nbsp;$4&nbsp;to&nbsp;$6 million&nbsp;through the other income, net line.</li>
<li>Reaffirms the effective tax rate on adjusted earnings1&nbsp;for the full year 2024 is expected to be in the range of 28.5 to&nbsp;30.5 percent. Significant changes in trading volume, expenses, tax laws or rates and other items could materially impact this expectation.</li>
<li>Reaffirms capital expenditures for 2024 are expected to be in the range of&nbsp;$51&nbsp;to&nbsp;$57 million.</li>
</ul>

Guidance

Cboe Global Markets Cut FY24 Adj Operating Expense Guidance to $795M-$805M (Prior $798M-$808M)

Cboe Global Markets Reiterated FY24 Organic Net Revenue Growth of 5%-7%, Organic Net Revenue from Data and Access Solutions Growth of 7%-10%, Capex of $51M-$57M

Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) reported quarterly earnings of $2.15 per share which beat the analyst consensus estimate of $2.04 by 5.39 percent. The company reported quarterly sales of $502.100 million which missed the analyst consensus estimate of $504.796 million by 0.53 percent. This is a 6.51 percent increase over sales of $471.400 million the same period last year.

Earnings Beats

Earnings Misses

Cboe Global Markets Q1 2024 Adj EPS $2.15 Beats $2.04 Estimate, Sales $502.100M Miss $504.796M Estimate

Stocks look set to carry forward the upward momentum on Friday <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">amid some earnings cheer, </a>although a tinge of nervousness is evident ahead of the all-important non-farm payrolls report. A strong labor market would give the nod for the Federal Reserve to stay &#8220;higher for longer,&#8221; and a wage inflation measure from the report will also be on investors&#8217; radar. Also, a national non-manufacturing activity reading is due for the day.
Apple, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPL#NASDAQ">APPL</a>) appeased the Street with a quarterly report that was not so bad as feared. The company also announced a massive buyback program and a modest dividend hike. The stock has a little under 6% weighting in the S&amp;P 500 Index.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.70%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.42%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.83%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.07%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Friday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.41% to $507.08,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.71% to $429.93, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Stocks rose solidly on Thursday in a relief rally following the Fed decision, with falling bond yields also working in favor of the market. The major indices opened higher but reversed course and fell below the unchanged line briefly in late-morning trading. Buying resumed thereafter, sending the averages steadily higher.
In the process, the Nasdaq Composite and the S&amp;P 500 Index snapped a two-session losing streak. Communication services, IT, and consumer discretionary stocks advanced solidly, while health care and material stocks came under selling pressure.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.51%</td>
<td>15,840.96</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.91%</td>
<td>5,064.20</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.85%</td>
<td>38,225.66</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.81%</td>
<td>2,016.11</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts: The market will likely do well, <a href="https://www.youtube.com/watch?v=p9TrELXHoyE">said</a> Fund Strat&#8217;s Tom Lee in a CNBC interview, although he predicated his prediction on a condition. &#8220;I know investors are wrestling with a lot of questions in their minds because inflation is higher than expected at the start of the year and rates are higher and stocks are higher, he said. 
Amid the different forecasts for Fed rates, market participants were wondering whether this was a payback period, he added.
Lee noted that earnings season has been overall good although there is evidence that companies are unable to pass on prices, demand is weak, and wage pressures are prevalent. 
&#8220;I think, that&#8217;s part of the confusion that&#8217;s taking place now. But to me, I&#8217;m kind of in the camp that despite all this, it&#8217;s all going to come down to whether inflation improves in the next couple of months or the rest of the year,&#8221; he said.
&#8220;If it does, a lot of these clouds will lift.&#8221; 
Upcoming Economic Data:
<ul>
<li>The Labor Department is due to release its monthly non-farm payrolls report for April at 8:30 a.m. EDT. Economists, on average, expect payroll growth of 240,000, down from the 303,000 pace seen in March. The unemployment rate may have remained unchanged at 3.8% and the annual rate of the average hourly earnings &#8211; an inflation measure, may have ticked down from 4.1% to 4.0%.</li>
<li>The Institute for Supply Management will release the results of its non -manufacturing sector survey at 10 a.m. EDT. The non-manufacturing purchasing managers&#8217; index for April is expected to improve from 51.4% in March to 52%.</li>
<li>Chicago Fed President Austan Goolsbe is scheduled to speak at 7:45 p.m. EDT and New York Fed President John Williams at 8:15 p.m. EDT.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
<ul>
<li>Apple climbed about 6% <a href="https://benzinga.grsm.io/lxquj26b2sag">in premarket trading </a>following its quarterly results.</li>
<li>Other stocks moving on earnings are Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) (up over 14%), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) (down about 12%), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) (up over 10%), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) (down about 13%), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) (down about 3.5%), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) (up over 5%), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) (down over 10%), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) (down about 4.5%), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) (up over 3%), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>) (up over 3%), Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) (up over 17.5%) and Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) (up about 10%).</li>
<li>American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) and Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rose modestly in early trading after a four-session losing streak and gold futures were found teetering just above the $2,300-an ounce mark.
The 10-year note yield was flattish at 4.571%, after retreating over 1% on Thursday.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed and traded above the $59K level.
Asian stocks that were open for trading closed mostly higher, tracking the optimism on Wall Street overnight and the positive earnings report from Apple. The Japanese and Chinese markets remained closed for public holidays. The European markets remained firmly in the green in early trading.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38607876/steve-jobs-wasnt-a-fan-but-apples-record-stock-buyback-is-so-massive-it-dwarfs-valuations-of-boe">Steve Jobs Wasn&#8217;t A Fan, But Apple&#8217;s Record Stock Buyback Is So Massive It Dwarfs Valuations Of Boeing, Starbucks, eBay And 415 Other S&amp;P 500 Companies</a>
Photo via Shutterstock

Wall Street Looks To Feed Off Apple's Post-Earnings Power But Key Jobs Data May Upset The Cart: Analyst Says 'A Lot Of These Clouds Will Lift' If This Happens

Coinbase Global (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) is set to report first-quarter 2024 earnings on May 2, after market close. The company delivered an earnings surprise in each of the last four reported quarters. 
Let&#39;s discuss the factors that are likely to be reflected in the upcoming quarterly results. 
Trading volumes in the first quarter are likely to have benefited from increased crypto asset volatility and crypto asset prices, the primary driver of the trading business. The approval of Bitcoin spot ETF is likely to have aided trading volumes. 
The Zacks Consensus Estimate for total trading volume is pegged at 268 million, indicating an improvement of 84.8% from the year-ago reported number. The consensus estimate for total volume - Consumer is pegged at 17.1 million, suggesting a 119.6% increase from the year-ago reported number. The consensus mark for total volume - Institution is pegged at 222 million, up 79% from the year-ago reported number. 
Higher blended average fees for Consumer and Institutional combined with higher trading volumes are likely to have driven an increase in transaction revenues. 
While a prudent mix of simple and advanced trading volume is likely to have aided blended average fee for Consumers, growth in Coinbase Prime volume is expected to have led to a higher blended average fee rate at Institutional. The Zacks Consensus Estimate for transaction revenues is pegged at $714 million, indicating an increase of 90.4% from the year-ago reported figure. 
The Zacks Consensus Estimate for transaction revenue - Consumer is pegged at $343 million, up 104% from the year-ago reported number. The consensus estimate for transaction revenue - Institutional is pegged at $56 million, up 151% from the year-ago reported number
<h3>What Our Quantitative Model Predicts</h3>
Our proven model predicts an earnings beat for Coinbase this time around. This is because it has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) that increases the odds of an earnings beat. 
Earnings ESP: Coinbase&#39;s Earnings ESP is +36.53%. You can uncover the best stocks to buy or sell before they&#39;re reported with our Earnings ESP Filter.
<div class="chart_embed">
<h3>Coinbase Global, Inc. Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/COIN/price-eps-surprise?icid=chart-COIN-price-eps-surprise"><img alt="Coinbase Global, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/53/1714493896.png" style="height:266px; width:543px" title="" /> </a>
Coinbase Global, Inc. price-eps-surprise | Coinbase Global, Inc. Quote
</div>
Zacks Rank: Coinbase currently sports a Zacks Rank #1.
<h3>Other Stocks to Consider</h3>
Here are three securities and exchange stocks you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat: 
Intercontinental Exchange (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ice#NYSE">ICE</a>) has an Earnings ESP of +0.54% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at $1.49, indicating a year-over-year increase of 5.7%. 
ICE&#39;s earnings beat estimates in each of the last four reported quarters. 
Cboe Global Markets (BATS: <a class="ticker" href="https://www.benzinga.com/stock/cboe#BATS">CBOE</a>) has an Earnings ESP of +0.35% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at $2.04, indicating an increase of 7.4% from the year-ago reported figure. 
CBOE earnings beat estimates in each of the last four reported quarters. 
MarketAxess (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mktx#NASDAQ">MKTX</a>) has an Earnings ESP of +0.75% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter 2024 earnings stands at $1.85, indicating a decrease of 5.6% from the year-ago reported figure. 
MKTX earnings beat estimates in three of the last four reported quarters while missing in one. 
<a href="https://www.zacks.com/stock/news/2265384/will-higher-trading-volume-aid-coinbase-coin-in-q1-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2265384">To read this article on Zacks.com click here.</a>

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

B of A Securities analyst Michael Carrier maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Buy and raises the price target from $200 to $204.

B of A Securities Maintains Buy on Cboe Global Markets, Raises Price Target to $204

Six S&amp;P 500 stocks often experience a surge when shares of Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) take a dip, an analysis by CNBC revealed.
What Happened: The six U.S.-listed stocks that typically see a rise when Nvidia&#8217;s shares falter include Jack Daniel's distiller Brown-Forman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>), gaming giant Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), health products manufacturer Henry Schein, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSIC#NASDAQ">HSIC</a>), software outsourcing behemoth Cognizant Technology Solutions Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>), pet care company Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>), and securities exchange Cboe Global Markets, Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>), CNBC <a href="https://www.cnbc.com/2024/04/19/here-are-the-6-stocks-that-rise-when-nvidia-shares-fall.html">reported</a> on Thursday.
The Pearson correlation coefficient, a measure of linear correlation between two variables, was used in the analysis to determine the relationship between the stock prices. The analysis screened S&amp;P 500 stocks that show an inverse correlation to Nvidia over a month and year period, following Nvidia&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38177926/whats-next-for-nvidia-as-stock-enters-correction-zone-munster-singles-out-crucial-q">stock falling into correction territory</a> for the second time this month. 
Some technical analysts have suggested that it might be time for investors to offload Nvidia too. Katie Stockton of Fairlead Strategies noted that chart patterns suggest a deeper pullback might be on the horizon "just in time for the seasonal adage of ‘sell in May, and go away' to manifest itself in investor behavior." 
See Also: <a href="https://www.benzinga.com/news/24/04/38286752/elon-musk-reacts-as-marc-andreessen-says-google-is-literally-run-by-employee-mobs-with-chinese-spies?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As Marc Andreessen Says Google Is &#8216;Literally Run By Employee Mobs&#8217; With &#8216;Chinese Spies&#8217;</a>
Adam Parker of Trivariate Research also listed eight steady growth stocks that could replace Nvidia if investors are worried about overexposure.
Why It Matters: Nvidia&#8217;s stock has been in the spotlight recently. In April, Evercore ISI predicted that <a href="https://www.benzinga.com/markets/equities/24/04/38306414/nvidia-stock-could-see-81-upside-by-2025-says-evercore-isi-only-in-the-beginning-phases-of-gener">Nvidia&#8217;s stock could surge by 81% by 2025</a>, suggesting that the company was only in the initial stages of generating outsized returns. 
However, the stock has been under pressure due to concerns over rising interest rates and a slew of corporate earnings reports. This led to <a href="https://www.benzinga.com/top-stories/24/04/38313015/nvidia-etfs-take-center-stage-as-bears-bulls-duke-it-out-with-8-14-swings">significant swings in Nvidia ETFs</a> as bulls and bears battled it out. 
As of Thursday, Nvidia&#8217;s stock closed at $846.71, marking an increase of 0.76% from the previous close. The stock&#8217;s 52-week high and low are $974 and $262.25 respectively, indicating significant fluctuations in the stock&#8217;s performance.
Read Next: <a href="https://www.benzinga.com/news/24/04/38111017/tesla-ceo-elon-musk-disagrees-with-nvidias-jensen-huang-that-anyone-can-make-their-own-neural-networ?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Disagrees With Nvidia&#8217;s Jensen Huang That Anyone Can Make Their Own Neural Network: &#8216;It&#8217;s Insanely Hard&#8217;</a>
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Analyst Color

Tech

General

CTSH

HSIC

NVDA

Jack Daniels Parent Company, EA, Cognizant Among 6 Stocks That Shine When Nvidia Slips: Analysis

Morgan Stanley analyst Michael Cyprys downgrades Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) from Overweight to Equal-Weight and lowers the price target from $211 to $199.

Downgrades

Morgan Stanley Downgrades Cboe Global Markets to Equal-Weight, Lowers Price Target to $199

Barclays analyst Benjamin Budish maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Overweight and raises the price target from $200 to $211.

Barclays Maintains Overweight on Cboe Global Markets, Raises Price Target to $211

Riddle me this, my fellow contrarian.
If the Federal Reserve is really tightening its balance sheet, then why is the stock market already up 10% on the year?
Why is gold at all-time highs?
And why is bitcoin going completely bonkers?
The answer is &quot;quiet QE.&quot;
As we discussed last summer in this column, Fed Chair Jay Powell&#39;s words have sounded hawkish. He and his cronies talked tough about inflation. But look at their actions: the Fed has quietly provided ample liquidity to the financial markets.
Which is why dollar hedges like gold and bitcoin have soared.
This &quot;Fed pivot&quot; happened in the fall of 2022, during the UK gilt (&quot;gilt&quot; is Brit-speak for bonds) crisis. Remember that? UK pension funds were levered up on &quot;safe&quot; gilts, which began to implode. Uh oh. Central banks sniffed a financial crisis and didn&#39;t care for the smell. They reversed course on their monetary tightening and loosened up.
Quiet QE.
Back in the day, this would have been reflected in higher gold prices. These days, investors are more likely to buy bitcoin as a hedge against money printing. Or a bet on it.
Ain&#39;t no casino like the crypto casino.
<img alt="" class="alignnone size-full wp-image-30477" src="https://contrarianoutlook.com/wp-content/uploads/2024/04/Crypto-Casino.jpg" style="height:345px; width:600px" />
Prior to the gilt event, here in Contrarian Outlook, I&#39;d been yapping about the Fed ad nauseam.
The upshot? As long as the Fed was tightening monetary liquidity (i.e., shrinking the money supply), it wasn&#39;t worth buying anything.
But this changed in late September 2022, when events across the pond quietly turned Jerry&#39;s tough stance inside out. I wrote the following to my Dividend Swing Trader readers:
<blockquote>The Bank of England is teasing financial animal spirits with its announcement that it will &quot;buy&quot; long-dated bonds.
(And of course print money to do so. A bad policy for taming inflation, but bullish for equity prices!)
If stocks use the BOE&#39;s U-turn to find their footing here, the market can really rip higher&hellip;
</blockquote>
Yeah, markets sure did rip! The S&amp;P 500 has jumped 48% since then and Bitcoin rocketed 266%!
Some tightening cycle!
Last summer, we discussed quiet QE right here:
<blockquote>Jay&nbsp;contends&nbsp;he is tightening the Fed&#39;s balance sheet, but he&#39;s really not. The stock market tape doesn&#39;t lie. This may not be a dotcom 1999 scenario, but it&#39;s a Fed-fueled mini-bubble nonetheless.
</blockquote>
<img alt="" class="alignnone size-full wp-image-30478" src="https://contrarianoutlook.com/wp-content/uploads/2024/04/Tech-Bubble.jpg" style="height:392px; width:600px" />
Look at Nvidia (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>)! The stock trades for 36-times sales. Not profits. Not cash flow. Thirty-six times revenues.
If NVDA took every dollar in sales and dished it out to investors, they would get their money back in 36 years. That is not a good investment.
But hey, money is loose because the Fed got scared. So we have NVDA at nosebleed levels. Bitcoin is going bonkers.
And it is likely to continue until the Fed tightens for real. Which could be years from now. Until then, bitcoin will continue to have the wind at its back as the crypto casino heats up further.
Now I&#39;m not saying we run out and buy bitcoin. I prefer backdoor plays. The old &quot;pick and shovel&quot; providers.
The phrase &quot;pick n&#39; shovel&quot; dates back to the gold rush of the 1840s, when hordes flocked to California to get rich mining for the metal. But the guys who made the real money didn&#39;t actually mine anything. They were the entrepreneurs who sold the &quot;picks and shovels&quot; as well as booze, &quot;entertainment&quot; and lodging to the hapless speculators.
We&#39;re not peddling booze. Instead, we&#39;re looking for the stocks that are benefiting from the bitcoin gold rush.
CBOE Global Markets (BATS: <a class="ticker" href="https://www.benzinga.com/stock/cboe#BATS">CBOE</a>) owns the Chicago Board Options Exchange (CBOE) and BATS Global Markets. You might know the firm from its most popular product: The CBOE Volatility Index&mdash;the world-famous &quot;VIX.&quot;
And the real profit party is unfolding in the crypto markets. CBOE has rolled out the red carpet as a gracious host!
There&#39;s a saying in Las Vegas that the house always wins. Well, if the financial markets have turned into giant casinos, then CBOE is the house we want to own.
In January, CBOE launched bitcoin and ether futures markets. Both are margin products, which will allow &quot;investors&quot; to, ahem, lever up. Move over sugar and corn futures, here comes crypto.
Back in my corn futures trading days, my wife joked (and feared) that I&#39;d get hit by a bus and, one month later, trucks of corn would show up at our door. After all, a futures contract is indeed a contract&mdash;one must sell before the expiration date or be prepared to take physical delivery.
(Brokerages will typically force us to liquidate before we take delivery. Still, the joke was close enough to a crazy possibility to land well consistently with company.)
In the spirit of &quot;corn deliveries&quot; CBOE also has products in the works that will include physically delivered products. Crypto being digital, we&#39;re talking about physical tokens and certificates and such.
As we discussed earlier this month, our Federal Reserve is sneakily pumping monetary liquidity into the financial system. This money printing is being reflected in higher crypto and gold prices.
There will likely be long-term consequences, but this isn&#39;t our concern as short-term traders! Bitcoin is expensive but backdoor play CBOE remains cheap.
CBOE, by the way, boasts one of the safest dividends in the world. The company generates free cash flow that is more than four times its annual payout. Investors who own the VIX-maker were rewarded with a 10% dividend raise earlier this year.
The article &quot;<a href="https://www.marketbeat.com/articles/any-bitcoin-stocks-pay-dividends-yeah-heres-a-back-door-2024-04-03/">Any Bitcoin Stocks Pay Dividends? Yeah, Here&#39;s a Back Door</a>&quot; first appeared on MarketBeat.

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

Cryptocurrency

Any Bitcoin Stocks Pay Dividends? Yeah, Here's a Back Door

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Market Perform and maintains $197 price target.

Keefe, Bruyette & Woods Maintains Market Perform on Cboe Global Markets, Maintains $197 Price Target

Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) has outperformed the market over the past 10 years by 3.12% on an annualized basis producing an average annual return of 13.48%. Currently, Cboe Global Markets has a market capitalization of $20.14 billion. 
Buying $100 In CBOE: If an investor had bought $100 of CBOE stock 10 years ago, it would be worth $351.41 today based on a price of $190.71 for CBOE at the time of writing.
<h3>Cboe Global Markets's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708531218_0_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.

If You Invested $100 In This Stock 10 Years Ago, You Would Have $400 Today

<ul>
<li>Launch is major milestone in Cboe&#39;s mission to build a global listings network and expand the investable universe for investors</li>
<li>BlackRock becomes first asset manager to list ETFs across Cboe&#39;s entire global network of listings exchanges</li>
<li>The new ETFs, listed for trading on Cboe Australia, are part of iShares by BlackRock&#39;s Factor ETF suite</li>
</ul>

Cboe Global Markets Lists iShares By BlackRock ETFs On Its Global Exchange Network

Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) has outperformed the market over the past 10 years by 2.22% on an annualized basis producing an average annual return of 12.81%. Currently, Cboe Global Markets has a market capitalization of $19.28 billion. 
Buying $1000 In CBOE: If an investor had bought $1000 of CBOE stock 10 years ago, it would be worth $3,359.57 today based on a price of $182.66 for CBOE at the time of writing.
<h3>Cboe Global Markets's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707323427_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 Cboe Global Markets 10 Years Ago Would Be Worth Today

<a href="https://www.cboe.com/">Unlock new trading opportunities with Cboe&#39;s new RUTW and MRUT daily expiring options</a>
<a href="https://www.cboe.com/">Cboe Global Markets Inc.</a> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cboe#NYSE">CBOE</a>) is a global derivatives and exchange network that offers a wide range of trading, clearing and investment solutions. This includes services across equities, derivatives, FX and digital assets, with a reach that spans North America, Europe and the Asia Pacific. The company&#39;s impressive daily trading volumes &ndash; with $67 billion in equities, 10 million options, 40 billion in FX and 219,000 futures contracts &ndash; position it as a key player in the financial markets. Largely known for pioneering products like listed options contracts and VIX futures, Cboe continues to spearhead innovations in the options space, with retail investors top of mind.&nbsp;
<h2>Daily Expiries For Russell 2000 And Mini-Russell 2000 Options</h2>
Cboe Global Markets recently announced the launch of <a href="https://ir.cboe.com/news/news-details/2023/Cboe-TO-OFFER-DAILY-EXPIRIES-FOR-RUSSELL-2000-INDEX-OPTIONS-SUITE-BEGINNING-JANUARY-8-2024/default.aspx">Tuesday and Thursday-expiring</a> Russell 2000 Index weekly (RUTW) options and Mini-Russell 2000 Index weekly (MRUT) options on January 8, 2024. In 2023, about 36% of the total U.S. index options flow involved contracts expiring in one day or less, aligning this initiative with the growing demand for short-dated index options while diversifying Cboe&#39;s product offerings.&nbsp;
The Russell 2000 Index, a measure of U.S. small-cap equities, will now feature RUTW and MRUT options with expirations every trading day of the week, offering investors enhanced management of small-cap equity exposure and precise execution of trading strategies around any market events. This move, facilitated in collaboration with FTSE Russell, is designed to meet the market&#39;s evolving needs and provide more investment opportunities tied to the Russell 2000 Index. MRUT options, in particular, offer a more cost-effective approach to small-cap equity strategy execution, exclusively available on Cboe&#39;s options exchanges.
<h2>Cboe&#39;s Commitment To Retail Traders</h2>
Cboe&#39;s decision to introduce Tuesday and Thursday expiries for Russell 2000 Index weekly (RUTW) options and Mini-Russell 2000 Index weekly (MRUT) options aligns with its commitment to retail traders. By offering a wider range of expiry options, Cboe continues to respond to the needs of a diverse trading community, particularly retail investors who seek more granularity and flexibility in their trading strategies.
This move is part of Cboe&#39;s broader strategy to empower retail traders, as evidenced by initiatives like the EDGX <a href="https://cdn.cboe.com/resources/membership/Cboe_US_Equities_Retail_Priority.pdf">Retail Priority program</a>. This program represents a significant shift from traditional trading models, prioritizing retail investors&#39; orders and reducing execution times, thereby enhancing overall trading outcomes. The introduction of these new expiries complements this strategy by providing retail traders with more tools to manage their investments effectively.
Ultimately, Cboe&#39;s Retail Priority program and this latest expansion of expiry options reflect its dedication to providing retail traders with sophisticated, accessible trading solutions &ndash; bridging the gap between retail and institutional trading capabilities.
<h2>Cboe&#39;s Strategic Evolution</h2>
The introduction of new expiries for RUTW and MRUT options by Cboe represents a strategic response to market demands and trends. By offering more frequent expiration options, Cboe is not only expanding its product portfolio but also catering to a wider range of investors, including those in the retail sector. This development is indicative of Cboe&#39;s ongoing efforts to continue to innovate and adapt in an ever-changing financial landscape, solidifying its position as a key disruptor in global markets.
<a href="https://www.cboe.com/tradable_products/ftse_russell/russell_2000_index_options/?utm_campaign=rut_mrut_2024&amp;utm_medium=direct-publisher&amp;utm_source=benzinga&amp;utm_content=cboe_introduces_tues_thurs&amp;utm_term=learn_more&amp;utm_id=benzinga_co_authored_article">Elevate your trading game with Cboe&#39;s expanded expiry options for Russell 2000 and Mini-Russell 2000</a>
Featured photo by <a href="https://unsplash.com/@bash__profile">Nicholas Cappello</a> on <a href="https://unsplash.com/photos/close-up-photo-of-monitor-displaying-graph-Wb63zqJ5gnE">Unsplash</a>.
This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.

Options

Cboe Introduces Tuesday And Thursday Expiries For Russell 2000 And Mini-Russell 2000 Options

Cboe Global Markets, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cboe#NYSE">CBOE</a>) reported better-than-expected <a href="https://www.benzinga.com/quote/CBOE/earnings">fourth-quarter earnings on Friday</a>.
Cboe Global Markets posted adjusted earnings of $2.06 per share, beating market estimates of $2.03 per share. The company&rsquo;s quarterly sales came in at $499.00 million versus expectations of $511.68 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Cboe Global Markets sees FY24 organic net revenue growth of 5% to 7%.
&quot;I am pleased to report that Cboe generated another year of strong revenue growth and financial results in 2023,&quot; said Fredric Tomczyk, Cboe Global Markets Chief Executive Officer. &quot;Our Derivatives and Data and Access Solutions categories helped drive the 10% net revenue growth and 13% adjusted diluted EPS growth for the year as both strong secular and cyclical trends helped boost these business lines. In addition, we made meaningful progress on our strategic initiatives as a company and are well-positioned for 2024. This year we plan to unlock additional value from our global derivatives and securities network by leveraging our core strengths &ndash; our global footprint, superior technology and product innovation &ndash; to help drive continued strong revenue growth and financial results.&quot;
Cboe Global Markets shares fell 1.1% to close at $182.78 on Friday.
These analysts made changes to their price targets on Cboe Global Markets after the company reported quarterly results.
<ul>
<li>Barclays cut the price target on Cboe Global Markets from $204 to $200. Barclays analyst Benjamin Budish maintained an Overweight rating.</li>
<li>Rosenblatt increased Cboe Global Markets price target from $192 to $200. Rosenblatt analyst Andrew Bond maintained a Buy rating.</li>
<li>Oppenheimer boosted the price target on Cboe Global Markets from $201 to $206. Oppenheimer analyst Owen Lau maintained an Outperform rating.</li>
</ul>
&nbsp;
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These Analysts Revise Their Forecasts On Cboe Global Markets Following Q4 Results

Cboe Global Markets Q1 2024 Earnings Preview

Cboe Global Markets Non-GAAP EPS of $2.15 beats by $0.11, revenue of $502.1M misses by $2.2M

Cboe Global Markets Q1 earnings beat; lowers expense guidance

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	The post <a href="https://investorplace.com/earning-results/2024/05/cboe-stock-earnings-cboe-global-markets-for-q1-of-2024/">CBOE Stock Earnings: Cboe Global Markets Beats EPS, Misses Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CBOE Stock Earnings: Cboe Global Markets Beats EPS, Misses Revenue for Q1 2024

Cboe Global Markets, Inc. (CBOE) Q1 2024 Earnings Call Transcript

Cboe multiply-listed options ADV dips 3.3% M/M in April

In a report released on May 3, Benjamin Budish from Barclays maintained a Buy rating on Cboe Global Markets (CBOE – Research Report), with a price ...

Barclays Sticks to Its Buy Rating for Cboe Global Markets (CBOE)

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KBW Remains a Hold on Cboe Global Markets (CBOE)

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Press Releases

Cboe Global Listings Reaches New Milestone Surpassing 1,000 ETFs Listed Across its Global Network

Cboe Global Markets Reports Trading Volume for March 2024

Cboe Global Markets Announces Recipients of the 2024 Cboe Empowers Scholarship Program; Expands Program to New York City

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Cboe Global Markets Realigns Digital Asset Business, Leveraging Strength and Expertise in Derivatives and Clearing

Cboe Global Markets Reports Results for First Quarter 2024

Cboe Global Markets Reports Trading Volume for April 2024

Contracts

Cboe Global Markets and Metaurus Advisors, LLC Announce Plans to Launch Three New Innovative Equity Indices