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

IBM Stock (NYSE:IBM), Short Interest Report

IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 350,000 people. The company has a robust roster of 80,000 business partners to service 5,200 clients—which includes 95% of all Fortune 500. While IBM is a B2B company, IBM's outward impact is substantial. For example, IBM manages 90% of all credit card transactions globally and is responsible for 50% of all wireless connections in the world.

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IBM secures legal victory, saving $1.6 billion in damages awarded to BMC Software Inc. The U.S. 5th Circuit Court of Appeals rules in favor of IBM, citing lawful acquisition of AT&amp;T&#39;s software account. Judges affirm IBM&#39;s good faith in the dispute, nullifying one of the largest-ever commercial judgments.

IBM Emerges Victorious In $1.6B Legal Battle: Report

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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

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IBM announced agreements with the Canadian government to develop semiconductor capabilities, despite positive remarks from Prime Minister Trudeau and IBM&#39;s focus on enhancing packaging and manufacturing methods.

What&#39;s Going On With IBM Stock Amid Expansion In Canada?

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IBM Reports Availability Of Its Software Portfolio Is Expanding Globally To 92 Countries In AWS Marketplace

Exane BNP Paribas analyst Stefan Slowinski initiates coverage on IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with a Underperform rating and announces Price Target of $145.

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Exane BNP Paribas Initiates Coverage On IBM with Underperform Rating, Announces Price Target of $145

International Business Machines Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) has reportedly triumphed in a legal battle, overturning $1.6 billion in damages awarded to&nbsp;BMC Software Inc. in 2022.&nbsp;
The dispute stemmed from&nbsp;IBM&#8217;s implementation of&nbsp;its&nbsp;own&nbsp;software while servicing their shared client,&nbsp;AT&amp;T Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>).
The U.S. 5th Circuit Court of Appeals ruled in favor of IBM, nullifying one of the largest-ever judgments in a commercial dispute, according to a report from&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-30/ibm-gets-1-6-billion-poaching-award-to-bmc-thrown-out-on-appeal?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
Judges found that IBM lawfully acquired AT&amp;T&#8217;s mainframe software account without breaching agreements with BMC.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38465075/whats-going-on-with-ibm-stock-amid-expansion-in-canada" rel="noreferrer noopener">IBM Signs Agreements With The Government Of&nbsp;Canada&nbsp;</a>
Houston-based BMC sued IBM in 2017, alleging&nbsp;<a target="_blank" href="https://www.yahoo.com/video/court-orders-ibm-pay-1-165712912.html" rel="noreferrer noopener">violation&nbsp;</a>of a no-poach agreement.
The appeals court judges agreed that AT&amp;T&#8217;s decision to switch software was independent of IBM&#8217;s influence.
The case is BMC Software v. IBM, 22-20463, U.S. Fifth Circuit Court of Appeals (New Orleans).
IBM stock has gained more than 31% in the past 12 months. Investors can gain exposure to IBM via&nbsp;First&nbsp;Trust Morningstar Dividend Leaders Index Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDL#NYSE">FDL</a>) and&nbsp;First Trust NASDAQ Technology Dividend Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDIV#NASDAQ">TDIV</a>).
Price Action: IBM shares are trading lower by 0.45% at $165.46 in premarket at&nbsp;the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38421190/ibm-ceo-arvind-krishna-teams-up-with-nvidia-to-accelerate-clients-ai-journeys-amid-1b-in-bookings" target="_blank" rel="noreferrer noopener">IBM CEO Arvind Krishna Teams Up With Nvidia &#8216;To Accelerate Clients&#8217; AI Journeys&#8217; Amid $1B In Bookings</a>
Credit: Shutterstock

Investors with a lot of money to spend have taken a bullish stance on IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with IBM, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 12 uncommon options trades for IBM.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 41%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $58,927, and 10 are calls, for a total amount of $743,327.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $200.0 for IBM over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in IBM's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to IBM's substantial trades, within a strike price spectrum from $110.0 to $200.0 over the preceding 30 days.
<h3>IBM 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714492898_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>IBM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$1.55</td>
<td>$1.48</td>
<td>$1.55</td>
<td>$200.00</td>
<td>$310.0K</td>
<td>5.4K</td>
<td style="text-align: right;">3</td>
</tr>
<tr>
<td>IBM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$56.2</td>
<td>$55.6</td>
<td>$56.2</td>
<td>$110.00</td>
<td>$84.3K</td>
<td>96</td>
<td style="text-align: right;">15</td>
</tr>
<tr>
<td>IBM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.0</td>
<td>$4.95</td>
<td>$5.0</td>
<td>$180.00</td>
<td>$72.0K</td>
<td>251</td>
<td style="text-align: right;">166</td>
</tr>
<tr>
<td>IBM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$11.8</td>
<td>$11.75</td>
<td>$11.8</td>
<td>$170.00</td>
<td>$53.2K</td>
<td>2.8K</td>
<td style="text-align: right;">37</td>
</tr>
<tr>
<td>IBM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/07/24</td>
<td>$1.31</td>
<td>$1.05</td>
<td>$1.05</td>
<td>$175.00</td>
<td>$50.5K</td>
<td>516</td>
<td style="text-align: right;">732</td>
</tr>
</tbody>
</table>

<h3>About IBM</h3>
IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 350,000 people. The company has a robust roster of 80,000 business partners to service 5,200 clients—which includes 95% of all Fortune 500. While IBM is a B2B company, IBM's outward impact is substantial. For example, IBM manages 90% of all credit card transactions globally and is responsible for 50% of all wireless connections in the world.
In light of the recent options history for IBM, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>IBM's Current Market Status</h3>
<ul>
<li>Trading volume stands at 1,356,341, with IBM's price down by -1.18%, positioned at $165.45.</li>
<li>RSI indicators show the stock to be may be oversold.</li>
<li>Earnings announcement expected in 78 days.</li>
</ul>
<h3>Professional Analyst Ratings for IBM</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $173.8.
<ul>
<li>An analyst from UBS persists with their Sell rating on IBM, maintaining a target price of $130. </li>
<li>Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on IBM with a target price of $179. </li>
<li>Maintaining their stance, an analyst from Wedbush continues to hold a Neutral rating for IBM, targeting a price of $160. </li>
<li>An analyst from Jefferies persists with their Hold rating on IBM, maintaining a target price of $210. </li>
<li>An analyst from Stifel has decided to maintain their Buy rating on IBM, which currently sits at a price target of $190. </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 IBM options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

IBM's Options: A Look at What the Big Money is Thinking

The IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) board of directors today declared an increase in the regular quarterly cash dividend to $1.67 per common share, payable June 10, 2024 to stockholders of record as of May 10, 2024.
This is the 29th year in a row that IBM has increased its quarterly cash dividend. &nbsp;IBM has paid consecutive quarterly dividends since 1916.
Arvind Krishna, IBM chairman and chief executive officer, said: "IBM remains focused on two of the most transformational technologies of our time - hybrid cloud and AI – both of which continue to drive growth for our company and for our clients. Our business is strong, with sustained revenue growth, enhanced productivity and solid cash generation, all of which enable us to invest for continued innovation and to return capital to shareholders through our dividend."

Dividends

IBM Board Approves Increase In Quarterly Cash Dividend From $1.66 To $1.67 Per Share

IBM Expands Team And Capabilities In Canada Software Lab To Accelerate Adoption Of Generative AI And Other Key Technologies

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>

Morgan Stanley analyst Erik Woodring maintains IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with a Equal-Weight and lowers the price target from $186 to $179.

Morgan Stanley Maintains Equal-Weight on IBM, Lowers Price Target to $179

International Business Machines Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">shares are trading lower on Friday.</a>
The software giant announced agreements with the Government of&nbsp;Canada and the Government of&nbsp;Quebec to develop further the assembly, testing, and packaging (ATP)&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38461358/ibm-government-of-canada-government-of-quebec-sign-agreements-to-strengthen-canadas-semiconductor-" rel="noreferrer noopener">capabilities for semiconductor modules.&nbsp;</a>
&#8220;Today&#8217;s announcement is a massive win for&nbsp;Canada&nbsp;and our dynamic tech sector,&#8221; said&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/justin-trudeau" rel="noreferrer noopener">Justin Trudeau</a>, Prime Minister of&nbsp;Canada.
The modules will&nbsp;be used&nbsp;across various applications, including telecommunications, high-performance computing, automotive, aerospace &amp; defense, computer networks, and generative AI, at IBM Canada&#8217;s plant in&nbsp;Bromont, Quebec.
The agreements reflect a combined investment valued at approximately&nbsp;C$187 million.
&#8220;It will create high-paying jobs, invest in innovation, strengthen supply chains, and help make sure the most advanced technologies are Canadian-made. Semiconductors power the world, and we&#8217;re putting&nbsp;Canada&nbsp;at the forefront of that opportunity,&#8221; Trudeau added.&nbsp;
IBM&nbsp;is set&nbsp;to conduct research and development aimed at enhancing packaging capabilities&nbsp;and devising&nbsp;scalable manufacturing methods,&nbsp;as well as&nbsp;other advanced assembly processes.&nbsp;
These efforts will bolster Canada&#8217;s position in the North American semiconductor supply chain&nbsp;and&nbsp;foster the expansion and solidification of the country&#8217;s expertise in advanced packaging.
&#8220;Advanced packaging is a crucial component of the semiconductor industry, and IBM Canada&#8217;s&nbsp;Bromont&nbsp;plant has led the world in this process for decades,&#8221; said&nbsp;Deb Pimentel, president of IBM Canada.&nbsp;
IBM recently reported first-quarter financial results where revenue increased 1% year-over-year to $14.46 billion, which missed the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $14.55 billion, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/gxjhpowx7zks" rel="noreferrer noopener">Benzinga Pro</a>.
Price Action: IBM shares are trading lower by 1.44% to $166.51 at last check Friday.
Photo via Shutterstock

What's Going On With IBM Stock Amid Expansion In Canada?

Up to $187M CAD to be invested to progress expansion of chip packaging capacity and capabilities and to strengthen R&amp;D at IBM Canada's Bromont plant

Contracts

IBM, Government Of Canada, Government Of Quebec Sign Agreements To Strengthen Canada's Semiconductor Industry; Up To C$187M To Be Invested

Thursday, April 25th, 2024 
Pre-market futures are plummeting at this hour. We began the early trading session down anyway, based on earnings disappointments from Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) and IBM (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ibm#NYSE">IBM</a>) after yesterday&#39;s close. This morning, Dow component Caterpillar (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>) is down more than -6% on its Q1 revenue miss. Beyond Q1 earnings results, we also have lots of economic data, much of which came up short of expectations. 
The first print on Q1 Gross Domestic Production came in well below estimates. Headline +1.6% missed the 2.2% anticipated, and less than half of Q4 2023&#39;s final +3.4%. The last time we saw GDP this low was back in Q2 of 2022, when we saw a negative -0.6%. Consumption came in half a percentage-point below expectations: +2.5% versus +3.0%. The Price Index (the full PCE report is out tomorrow morning), meanwhile, was higher: +3.1% versus +3.0% &mdash; the highest since Q3 &#39;23&#39;s +3.3% and nearly double the +1.6% the previous quarter. Can you say &quot;stagflation&quot;? 
Initial Jobless Claims, meanwhile, stayed uncommonly well-behaved: 207K, below the unrevised 212K from the prior week and the 215K expected. A year ago, new jobless claims were grappling in the 240K range, on the way to a multi-year high 265K last summer. Since the start of the year, we&#39;ve been at or below 200K three times. This is consistent with an historically robust labor environment &mdash; no doubt influenced by a large influx of immigrants to the U.S. 
Continuing Claims also stayed low. Headline 1.78 million is the lowest weekly print since mid-January, with the previous week&#39;s 1.796 million revised down from 1.812 million, which was itself historically low. Analysts had been keeping 2 million longer-term jobless claims on their radar, but it&#39;s gone for naught: the last time we were even north of 1.9 million was back in November of last year. A narrow range around 1.8 million has been our norm for the past three months. 
Advanced Trade Balance in Goods for March came in slightly below expectations, to -$91.8 billion. Advanced Retail Inventories grew only +0.3%, 20 basis points (bps) lower than expectations. Advanced Wholesale Inventories swung to a negative -0.4%, the lowest mark we&#39;ve seen since June of last year. Because these are advanced numbers, they are necessarily speculative. What they speculate, however, is a somewhat weakening economy. 
Isn&#39;t this supposed to be good news? If we&#39;re looking for interest rates to come down from their draconian 5.25-5.50%, where they&#39;ve been for the past nine months, isn&#39;t the lessening of data points across the broader economic spectrum a necessary component to bringing these to a more manageable level? The pre-market doesn&#39;t think so: the Dow is -421 points at this hour, the S&amp;P 500 is -58 and the Nasdaq is -253 points. Aside from bargain-hunting traders, this big comedown is something the Fed is probably less than displeased to see. 
Q1 earnings results are plentiful this morning. To name just a few, Caterpillar beat on earnings but missed on the top line, as mentioned above. Airlines American (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>) and Southwest (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/luv#NYSE">LUV</a>) both posted wider-than-expected losses on slightly inferior revenue totals, though only LUV is down big. For some good news, AstraZeneca (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azn#NASDAQ">AZN</a>) easily surpassed expectations on both top and bottom lines and is up +5% in today&#39;s pre-market. After today&#39;s close, we&#39;ll hear from Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), Intel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>), Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) and Snap (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>), among others. 
<a href="https://www.zacks.com/stock/news/2262436/is-bad-news-still-good-news-for-the-market?cid=CS-BENZ-FT-ahead_of_wall_street-2262436">To read this article on Zacks.com click here.</a>

GOOGL

MSFT

SNAP

Is "Bad News" Still "Good News" for the Market?

Shares of Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) fell sharply during Thursday's session after the company reported better-than-expected first-quarter EPS but missed <a href="https://www.benzinga.com/news/earnings/24/04/38433251/why-is-equipment-giant-caterpillar-stock-plunging-today">revenue estimates</a>.
Caterpillar reported a first-quarter fiscal 2024 revenue of $15.8 billion, a slight decrease of 0.4% year-over-year, missing the consensus of $16.216 billion. CAT's adjusted earnings of $5.60 per share, compared to $4.91 a year ago, topped the consensus of $5.14, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Caterpillar shares dipped 6.6% to $339.37 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Barfresh Food Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRFH#NASDAQ">BRFH</a>) surged 87.2% to $2.05.</li>
<li>Safe &amp; Green Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) shares jumped 80% to $0.26. Safe &amp; Green Holdings said it has entered into an agreement to produce 4 modular electrical distribution centers as part of a multi-unit order for a client serving the big box retailer market.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares gained 37.2% to $2.2250 after HC Wainwright &amp; Co initiated coverage on the stock with a Buy rating and announced an $8 price target.</li>
<li>Aclarion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACON#NASDAQ">ACON</a>) rose 35% to $0.3899.</li>
<li>reAlpha Tech Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRE#NASDAQ">AIRE</a>) gained 28.5% to $1.4906 after jumping 93% on Wednesday.</li>
<li>OptiNose, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTN#NASDAQ">OPTN</a>) rose 27.5% to $1.1806 after the company issued corporate updates, expecting to produce positive income from operations for the full year 2025.</li>
<li>Intelligent Living Application Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILAG#NASDAQ">ILAG</a>) shares climbed 21.3% to $0.6550 after gaining over 12% on Wednesday.</li>
<li>P.A.M. Transportation Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTSI#NASDAQ">PTSI</a>) surged 19.8% to $17.42 after the company announced a self-tender offer to purchase up to 550,000 shares at a price not less than $15.50-$18.00 per share.</li>
<li>SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) climbed 19% to $0.2663. SuperCom received over $5 million in new orders from European Governments.</li>
<li>Ultralife Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULBI#NASDAQ">ULBI</a>) climbed 16.6% to $10.19 after the company reported better-than-expected quarterly financial results.</li>
<li>Impinj, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) gained 16% to $140.21 after reporting better-than-expected first-quarter financial results.</li>
<li>Cidara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDTX#NASDAQ">CDTX</a>) gained 13.9% to $14.00 after the company announced the divestiture of rezafungin to Mundipharma, reacquired global development and commercial rights to CD388 and announced $240 million in private placement financing.</li>
<li>Sleep Number Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) surged 11.5% to $15.13 following first-quarter results.</li>
<li>Predictive Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POAI#NASDAQ">POAI</a>) rose 10.7% to $1.49. Fujifilm and Predictive Oncology announced collaboration to reduce protein interference in bacterial endotoxin detection testing of biopharmaceuticals.</li>
<li>Strategic Education, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRA#NASDAQ">STRA</a>) jumped 10% to $110.78 following upbeat results.</li>
<li>Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) gained 9.6% to $459.39 after the company reported better-than-expected first-quarter EPS and sales. Additionally, the company provided upbeat guidance for FY24.</li>
<li>TransUnion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRU#NYSE">TRU</a>) climbed 8.9% to $74.83 after the company reported better-than-expected first-quarter financial results. The company also provided upbeat guidance for second quarter</li>
<li>AstraZeneca PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NYSE">AZN</a>) rose 5.8% to $75.35 following a first-quarter revenue beat.</li>
<li>Teradyne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TER#NYSE">TER</a>) gained 5% to $105.71 after the company posted upbeat first-quarter results and issued strong second-quarter forecast.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>E-Home Household Service Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EJH#NASDAQ">EJH</a>) shares dipped 75% to $0.7192.</li>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) fell 39.3% to $0.2581. Chicken Soup For The Soul Entertainment received delinquency letter from the Nasdaq.</li>
<li>Hanryu Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRYU#NASDAQ">HRYU</a>) shares dropped 37% to $0.3330. Hanryu Holdings received delinquency notice from the Nasdaq for late annual report filing.</li>
<li>ATN International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATNI#NASDAQ">ATNI</a>) fell 29% to $20.39 as the company posted weak quarterly sales and slashed FY24 revenue forecast.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) fell 27.3% to $2.71.</li>
<li>Huize Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUIZ#NASDAQ">HUIZ</a>) shares dipped 26% to $0.39.</li>
<li>Cyclacel Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYCC#NASDAQ">CYCC</a>) fell 24% to $1.7283.</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) dipped 23% to $4.4299 after the company mixed first-quarter financial results.</li>
<li>Organogenesis Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGO#NASDAQ">ORGO</a>) fell 17.8% to $2.44</li>
<li>Orion Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) fell 17% to $6.60 following weak quarterly sales.</li>
<li>JAKKS Pacific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAKK#NASDAQ">JAKK</a>) fell 16.4% to $19.58 following a wider-than-expected quarterly loss.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) fell 16.4% to $3.3001 after dipping 15% on Wednesday.</li>
<li>Brookline Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKL#NASDAQ">BRKL</a>) dipped 13.8% to $8.23 following downbeat quarterly results.</li>
<li>Ethan Allen Interiors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETD#NYSE">ETD</a>) fell 13.5% to $28.91 following downbeat quarterly results.</li>
<li>MarineMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) shares fell 13.5% to $23.50 after the company posted downbeat quarterly results and slashed FY24 EPS guidance.</li>
<li>ESGL Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESGL#NASDAQ">ESGL</a>) shares fell 12.9% to $0.5499.</li>
<li>Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>) declined 12.7% to $34.45 following first-quarter results.</li>
<li>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares declined 11.3% to $437.50 after reporting first-quarter results.</li>
<li>Biophytis S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTS#NASDAQ">BPTS</a>) fell 9.7% to $8.57. Biophytis announced transfer of ADSs to OTC Market.</li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) fell 8.6% to $168.24 after the company reported mixed first-quarter financial results. The company also announced it will acquire HashiCorp.</li>
<li>Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) shares fell 12% to $82.78 following weaker-than-expected quarterly earnings.</li>
<li>FirstCash Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCFS#NASDAQ">FCFS</a>) dipped 10.6% to $118.00 following weak quarterly sales.</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) fell 9.2% to $95.98 following first-quarter results.</li>
<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) dipped 9% to $83.05 after the company reported first-quarter financial results.</li>
<li>Reliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) fell 8.8% to $285.73 after the company reported worse-than-expected first-quarter financial results.</li>
<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) dipped 8.6% to $75.28. AZZ announced a proposed public offering of 4 million shares of common stock.</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) shares declined 7.7% to $27.03 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) fell 6.8% to $45.50 following first-quarter earnings.</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) shares fell 5.6% to $704.40 after the company reported first-quarter financial results.</li>
<li>Graco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GGG#NYSE">GGG</a>) shares slipped 5.2% to $84.67 following downbeat first-quarter results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/04/38430578/top-3-financial-stocks-that-could-sink-your-portfolio-this-quarter">Top 3 Financial Stocks That Could Sink Your Portfolio This Quarter</a>

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Why Caterpillar Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

JP Morgan analyst Brian Essex maintains IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with a Neutral and lowers the price target from $190 to $185.

JP Morgan Maintains Neutral on IBM, Lowers Price Target to $185

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$820.00</td>
<td>$60.4K</td>
<td>7.7K</td>
<td>41.9K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$410.00</td>
<td>$28.8K</td>
<td>4.8K</td>
<td>8.5K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$800.00</td>
<td>$28.4K</td>
<td>2.4K</td>
<td>7.4K</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$112.00</td>
<td>$26.4K</td>
<td>2.0K</td>
<td>3.1K</td>
</tr>
<tr>
<td>INTC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$34.50</td>
<td>$50.0K</td>
<td>4.6K</td>
<td>2.6K</td>
</tr>
<tr>
<td>IBM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$220.00</td>
<td>$33.6K</td>
<td>5.6K</td>
<td>1.7K</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$20.00</td>
<td>$29.4K</td>
<td>10.9K</td>
<td>1.4K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$30.00</td>
<td>$29.5K</td>
<td>27.7K</td>
<td>881</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$1310.00</td>
<td>$51.0K</td>
<td>194</td>
<td>771</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$200.00</td>
<td>$28.6K</td>
<td>15.2K</td>
<td>732</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be bearish, expiring in 1 day(s) on April 26, 2024. This event was a transfer of 42 contract(s) at a $820.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $60.4K, with a price of $1440.0 per contract. There were 7744 open contracts at this strike prior to today, and today 41944 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option trade that happens to be bullish, expiring in 1 day(s) on April 26, 2024. This event was a transfer of 60 contract(s) at a $410.00 strike. The total cost received by the writing party (or parties) was $28.8K, with a price of $480.0 per contract. There were 4865 open contracts at this strike prior to today, and today 8526 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option trade that happens to be bullish, expiring in 1 day(s) on April 26, 2024. This event was a transfer of 20 contract(s) at a $800.00 strike. The total cost received by the writing party (or parties) was $28.4K, with a price of $1420.0 per contract. There were 2441 open contracts at this strike prior to today, and today 7495 contract(s) were bought and sold. 
• Regarding MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we observe a call option trade with bullish sentiment. It expires in 1 day(s) on April 26, 2024. Parties traded 150 contract(s) at a $112.00 strike. The total cost received by the writing party (or parties) was $26.4K, with a price of $176.0 per contract. There were 2074 open contracts at this strike prior to today, and today 3113 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a put option sweep with bullish sentiment. It expires in 1 day(s) on April 26, 2024. Parties traded 500 contract(s) at a $34.50 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $50.0K, with a price of $100.0 per contract. There were 4622 open contracts at this strike prior to today, and today 2669 contract(s) were bought and sold. 
• Regarding IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), we observe a call option trade with bullish sentiment. It expires in 267 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $220.00 strike. The total cost received by the writing party (or parties) was $33.6K, with a price of $168.0 per contract. There were 5677 open contracts at this strike prior to today, and today 1748 contract(s) were bought and sold. 
• Regarding RIOT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), we observe a call option sweep with bearish sentiment. It expires in 148 day(s) on September 20, 2024. Parties traded 200 contract(s) at a $20.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $29.4K, with a price of $147.0 per contract. There were 10999 open contracts at this strike prior to today, and today 1476 contract(s) were bought and sold. 
• Regarding MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we observe a call option trade with bullish sentiment. It expires in 57 day(s) on June 21, 2024. Parties traded 250 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $29.5K, with a price of $118.0 per contract. There were 27798 open contracts at this strike prior to today, and today 881 contract(s) were bought and sold. 
• Regarding AVGO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), we observe a call option sweep with neutral sentiment. It expires in 1 day(s) on April 26, 2024. Parties traded 60 contract(s) at a $1310.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $51.0K, with a price of $850.0 per contract. There were 194 open contracts at this strike prior to today, and today 771 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a call option sweep that happens to be bearish, expiring in 57 day(s) on June 21, 2024. This event was a transfer of 190 contract(s) at a $200.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $28.6K, with a price of $151.0 per contract. There were 15212 open contracts at this strike prior to today, and today 732 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AVGO

MARA

NVDA

RIOT

SMCI

10 Information Technology Stocks With Whale Alerts In Today's Session

Wall Street suffers a double blow in Thursday&#8217;s session, as softer-than-expected revenue forecasts from Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are being compounded by weaker-than-expected economic growth and higher inflationary pressures last quarter, raising fears of a stagflation phase <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">for the U.S. economy.</a>
The U.S. economy grew by a 1.6% annualized pace in Q1 2024, slowing down sharply from the 3.4% pace in the previous quarter and missing expectations of a growth rate of 2.5%. Inflation, as measured by the Personal Consumption Expenditure (PCE) price index, substantially accelerated from a 1.8% to 3.4% annualized pace, with the underlying measure of core PCE escalating to 3.7%. 
The elite group of Magnificent Seven stocks <a href="https://www.benzinga.com/markets/equities/24/04/38436183/magnificent-7-tumble-wipe-out-300-billion-on-metas-weak-guidance-q1-stagflation-woes">wiped out nearly $300 billion in market value</a> earlier this morning, prior to marginally curbing losses by 1 p.m. in New York. 
The S&amp;P 500 and the tech-heavy Nasdaq 100 dropped by 1% and 1.2% respectively, while blue chips in the Dow Jones Industrial Average slightly underperformed, declining by 1.4%. 
Meta Platforms experienced a double-digit decline, pulling down both the tech index and the communication services sector, which saw its worst day since late October 2023.
Only a few industries managed to notch gains, with gold miners in the spotlight following stronger-than-expected quarterly results by Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>). The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rose 2.7%. 
Gold also saw an increase, rising by 0.7%, outperforming both stocks and bonds amid growing signals of stagflation from the economy. Crude oil inched lower, with the West Texas Intermediate (WTI) light crude down 0.4% to $82 a barrel. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady around $64,500. 
In the bond market, Treasury yields surged, with the policy-sensitive 2-year yields rising to 5% as traders further dialed back expectations of Fed rate cuts. 
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,026.87</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,975.61</td>
<td>-1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,333.65</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,923.49</td>
<td>-1.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. EDT </figcaption></figure>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Meta Platforms tanked 11% – its worst performance since October 2022 – despite beating both earnings and revenue forecasts last quarter, as weaker-than-expected guidance disappointed traders.</li>
<li>Other companies reacting to earnings were International Business Machines Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NASDAQ">IBM</a>) down 9%, Service Now Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) down 5%, Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) up 2.9%, Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) up 5.4%, Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) down 1.6%, United Rentals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) up 5.5%, with all of them reporting Wednesday after the close. </li>
<li>Reporting Thursday in the pre-market, Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) up 2.5%, Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) down 6.6%, Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) down 6%, Union Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) up 4.3%, S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) flat, Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), down 1.4%, Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) up 1.7%, Altria Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) up 1%, Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) down 0.5%, Carrier Global Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) up 8% and Astrazeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) up 5.7%. </li>
<li>Notable names reporting after the close include Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) , Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>).</li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38438240/feds-inflation-report-looms-this-friday-what-makes-it-so-crucial-for-markets">Fed&#8217;s Inflation Report Looms This Friday: What Makes It So Crucial For Markets?</a>
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Stocks Drop, Tech Tumbles With Meta's Weak Outlook, Q1 Stagflation Fears; Gold Miners Advance: What's Driving Markets Thursday?

BMO Capital analyst Keith Bachman maintains IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with a Market Perform and lowers the price target from $210 to $190.

BMO Capital Maintains Market Perform on IBM, Lowers Price Target to $190

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/04/2024-04-25_08h09_40.png" style="height:349px; width:624px" />
<h3>The Power Of Market Mechanics</h3>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-meta-tesla-earnings-meta-mc-04252024">click here </a>for an enlarged&nbsp;chart of Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock.&nbsp;The chart of META stock is being used to illustrate the point.</li>
<li>The chart shows a gap down in META on earnings.</li>
<li>The chart shows an island reversal.&nbsp;An island reversal is a negative pattern.</li>
<li>RSI on the chart shows that META is now oversold.</li>
<li>As full disclosure, META is part of The Arora Report&#39;s ZYX Buy Model Portfolio, and long-time&nbsp;members&nbsp;are long META from $49.92. Reference the chart for when the Arora signal was given to hedge or take partial profits right close to the top before the big drop in the stock.</li>
<li>Meta reported excellent earnings, better than the consensus and whisper numbers.&nbsp;Why is META stock down?&nbsp;The popular narrative is that the stock is down due to AI spending and Mark Zuckerberg&rsquo;s comment that AI spending will not produce immediate profits.&nbsp; With the exception of momo gurus who do not do objective analysis, non-momo analysts know that AI spending is not going to produce immediate profits.</li>
<li>Yesterday, <a href="https://www.benzinga.com/markets/24/04/38408710/musk-lifts-sentiment-in-entire-stock-market-by-saying-a-regular-car-is-like-riding-a-horse">we highlighted</a> that Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) reported terrible numbers, but the stock jumped up on heavy AI spending on the prospect of future returns from AI spending.&nbsp;Please see <a href="https://blog.thearorareport.com/musk-042424/">yesterday&rsquo;s Morning Capsule</a> for details.&nbsp;For your convenience, <a href="https://thearorareport.com/stock-market-chart-analysis-musk-lifts-sentiment-tsla-mc-04242024">click here </a>for an enlarged&nbsp;chart of Tesla that was included in yesterday&rsquo;s Morning Capsule.&nbsp;For the sake of full transparency, this chart has not been changed.</li>
<li>Here is an important learning moment for investors.&nbsp;Why did TSLA stock jump 12% on bad numbers and heavy AI spending?&nbsp; Why did META stock fall 15% on excellent numbers and heavy AI spending? The real answer is Wall Street&rsquo;s positioning.
<ul>
<li>Going into TSLA earnings, Wall Street&rsquo;s positioning was very negative.&nbsp;</li>
<li>Going into META earnings, Wall Street&rsquo;s positioning was extremely positive.&nbsp;&nbsp;&nbsp;</li>
<li>Positioning often causes contrary moves.&nbsp;If you can fully grasp this one point of Wall Street mechanics, it will make a huge difference in the amount of money you extract out of the markets.&nbsp;Due to their high value, Wall Street professionals keep the secrets of Wall Street mechanics close to their chest. &nbsp;</li>
</ul>
</li>
<li>Here are three notable earnings impacting the sentiment in the stock market:
<ul>
<li>IBM Common Stock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ibm#NYSE">IBM</a>) stock had been running up on AI excitement.&nbsp;IBM reported earnings less than the whisper numbers.&nbsp;IBM stock has fallen about 10%. As a full disclosure, The Arora Report&#39;s ZYX Short took a short position in IBM and had a nice profit in a matter of minutes.&nbsp; Partial profits have already been taken.</li>
<li>Construction machinery maker Caterpillar Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>) reported earnings worse than whisper numbers.</li>
<li>Pharmaceutical company Merck &amp; Co Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) reported earnings better than whisper numbers.</li>
</ul>
</li>
<li>Today, there will be an auction of $44B of seven year Treasuries.&nbsp;We will be carefully watching the results.</li>
<li>In contrast to the <a href="https://www.benzinga.com/markets/24/04/38408710/musk-lifts-sentiment-in-entire-stock-market-by-saying-a-regular-car-is-like-riding-a-horse">prior two year auction</a>,&nbsp;yesterday&rsquo;s record auction of $70B of five year Treasuries was poor but not a canary in the coal mine.&nbsp;Here are the details:
<ul>
<li>High yield: 4.659% (When-Issued: 4.655%)</li>
<li>Bid-to-cover: 2.39</li>
<li>Indirect bid: 65.7%</li>
<li>Direct bid: 19.2%</li>
</ul>
</li>
<li>Initial jobless claims came at 207K vs. 217K consensus.</li>
<li>In The Arora Report analysis, the just released Q1 GDP indicates stagflation may be coming.&nbsp;Here are the details:
<ul>
<li>GDP-Adv came at 1.6% vs. 2.4% consensus.</li>
<li>Price index came at 3.1% vs. 3.0% consensus.</li>
<li>Core price index came at 3.7% vs. 3.4% consensus.</li>
</ul>
</li>
</ul>
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are negative in Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>), META, Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), and TSLA.
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is buying stocks in the early trade.&nbsp;Smart money is selling stocks in the early trade.
<h3>Gold</h3>
The momo crowd is like a yoyo in gold in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD). The most popular ETF for silver is iShares Silver Trust (ARCA:SLV).&nbsp;
<h3>Oil</h3>
The momo crowd is like a yoyo in oil in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see oil ratings.
The most popular ETF for oil is United States Oil ETF (ARCA:USO).
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is seeing selling.
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp;If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp;High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp;Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Trading Ideas

GOOG

TSLA

Meta Falls 15% On Great Earnings, Tesla Rises 12% On Ugly Earnings – Here Is The Real Reason

Wedbush analyst Moshe Katri maintains IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with a Neutral and raises the price target from $140 to $160.

Wedbush Maintains Neutral on IBM, Raises Price Target to $160

Jefferies analyst Brent Thill maintains IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with a Hold and lowers the price target from $210 to $190.

Jefferies Maintains Hold on IBM, Lowers Price Target to $190

IBM Unveils New Storage Capabilities Through IBM Storage Assurance

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Finding opportunities for a steady and high return is crucial before the next market boom. Three exceptional businesses provide attractive opportunities in various industries.&nbsp;



Leading the aerospace and military industries, the first one gains from significant revenue growth fueled by important government contracts. The corporation has secured its place as a top performer in the industry by receiving more money for essential initiatives with the passage of the FY2024 defense budget. Similarly, the second one takes advantage of the expanding market for smokeless oral goods, which is expanding significantly in both the Japanese and American markets. The company&rsquo;s dominance in this market indicates consumers gravitate toward healthier options.



In the meantime, the third one demonstrates resilience and growth in hybrid solutions while showcasing its strength in IT infrastructure. The firm is positioned as a dependable investment option due to its capacity to adjust to changing market needs. Furthermore, the third company&rsquo;s robust free cash flow allows it to make calculated investments, improving its long-term growth prospects.



Each firm&rsquo;s strategic efforts and market positioning highlight this potential, making them appealing investment options for astute investors.



<h2>Lockheed Martin (LMT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/lmt1600-300x169.png" alt="Close top view of a Lockheed Martin (LMT) F-35C Lightning II with afterburner on"><div>Source: ranchorunner / Shutterstock.com</div></div>In Q1 2024, Lockheed Martin&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/lmt-stock-quote/">LMT</a>) net sales increased significantly to&nbsp;<a href="https://investors.lockheedmartin.com/static-files/0e5a6d1e-900e-49c9-930a-376f94f6b9c0" target="_blank">$17.2 billion</a>&nbsp;from $15.1 billion in the same period the previous year. This significant rise shows the company&rsquo;s capacity to produce large amounts of income over an extended period. With a healthy backlog of $159 billion, the firm demonstrated a solid fit between the goals and priorities of its customers and its cutting-edge technological solutions. A sizable backlog suggests a robust pipeline of potential future revenue-generating projects.



Moreover, adopting the&nbsp;<a href="https://investors.lockheedmartin.com/static-files/0e5a6d1e-900e-49c9-930a-376f94f6b9c0" target="_blank">FY2024 defense</a>&nbsp;budget favors Lockheed Martin since it provides funds for several important initiatives the firm depends on, including multi-year munitions acquisition, hypersonics and secret operations. The financial additions for projects like the C-130 and F-35 aircraft further strengthened Lockheed Martin&rsquo;s growth prospects, including supporting important initiatives such as F-35, CH-53K, UH-60M, and others.



Lastly, Lockheed Martin&rsquo;s global market reach is demonstrated by agreements to provide&nbsp;<a href="https://finance.yahoo.com/news/lockheed-martin-corporation-nyse-lmt-145342436.html" target="_blank">F-35 aircraft</a>&nbsp;to the Czech Republic, Turkey, and Singapore, among other countries. Hence, these agreements show that Lockheed Martin&rsquo;s goods and services are in high demand abroad, broadening its sources of income outside of its home country.



<h2>Philip Morris International (PM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/pm-1600-300x169.png" alt="Philip Morris factory offices in Lithuania. PM stock."><div>Source: Vytautas Kielaitis / Shutterstock</div></div>ZYN nicotine pouches, an oral smoke-free product from Philip Morris International (NYSE:<a href="https://investorplace.com/stock-quotes/pm-stock-quote/">PM</a>), have grown remarkably. One vital trend is the significant development in ZYN nicotine pouch shipping volume. The number of can shipments increased by&nbsp;<a href="https://www.pmi.com/investor-relations/press-releases-and-events/press-releases-overview/press-release-details/?newsId=27556" target="_blank">79.7% year-over-year (YoY)</a> to reach 131.6 million in the U.S. This significant increase demonstrates the high customer demand for ZYN products and their rising status in the oral smoke-free product market.



Additionally, ZYN has consecutive gains in market share within the oral nicotine pouch category in the United States. The company&rsquo;s share in the category rose to&nbsp;<a href="https://www.pmi.com/investor-relations/press-releases-and-events/press-releases-overview/press-release-details/?newsId=27556" target="_blank">over 74%</a>&nbsp;for the fourth consecutive quarter, a sequential rise of 1.3 percentage points. The increase in market share and the dominance of Philip Morris in the area of oral smoke-free products are demonstrated by the statistics.



Finally, Japan is a crucial market for Philip Morris&rsquo; IQOS products, as the company has seen a significant rise in market share in that nation. Hence, IQOS increased its market share significantly in Japan, rising by more than three percentage points to&nbsp;<a href="https://finance.yahoo.com/news/philip-morris-international-inc-nyse-144937246.html" target="_blank">above 29%.</a>&nbsp;



<h2>IBM (IBM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/IBM1600-300x169.jpg" alt="Quantum computing stocks: Sign of IBM with Canada Head Office Building in background in Markham, Ontario, Canada. IBM is an American multinational technology company."><div>Source: JHVEPhoto / Shutterstock.com</div></div>At constant currency, the IBM (NYSE:<a href="https://investorplace.com/stock-quotes/ibm-stock-quote/">IBM</a>) infrastructure segment&rsquo;s revenue increased by 0.2%, with hybrid infrastructure driving the majority of the&nbsp;<a href="https://www.ibm.com/downloads/cas/Y23EY3W8" target="_blank">rise at 6%</a>. Revenue from IBM Z, the company&rsquo;s flagship hardware product, increased by 5%, demonstrating the ongoing demand for IBM&rsquo;s mainframe solutions.



Additionally, distributed infrastructure fared well, growing at a pace of 7% at constant currency. IBM&rsquo;s infrastructure division exhibits growth and durability, especially in hybrid solutions. Thus, IBM Z&rsquo;s robust performance highlights its continued significance in the AI age, particularly for real-time AI-inferencing workloads.&nbsp;



Moreover, in Q1 2024, IBM generated $1.9 billion in free cash flow, a notable <a href="https://www.ibm.com/downloads/cas/Y23EY3W8" target="_blank">$600 million increase</a> annually. During the previous 12 months, IBM generated $11.8 billion in free cash flow, putting the business in a strong position for further investment and strategic objectives. Hence,&nbsp;its constant generation of large free cash flows demonstrates IBM&rsquo;s potential for reinvestment and financial stability.



In summary, IBM&rsquo;s financial stability is preserved by&nbsp;pursuing&nbsp;strategic acquisitions, including the upcoming&nbsp;<a href="https://www.ibm.com/downloads/cas/KNBBJBLK" target="_blank">acquisition of HashiCorp</a>, thanks to its robust cash flow.



As of this writing, Yiannis Zourmpanos held a long position in PM. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Yiannis Zourmpanos is the founder of Yiazou Capital Research, a stock-market research platform designed to elevate the due diligence process through in-depth business analysis.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/slingshot-stocks-3-picks-primed-to-catapult-higher-in-the-next-market-surge/">Slingshot Stocks: 3 Picks Primed to Catapult Higher in the Next Market Surge</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Slingshot Stocks: 3 Picks Primed to Catapult Higher in the Next Market Surge

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Quantum computing technology and applications across sectors are advancing rapidly; the market is predicted to <a href="https://www.fortunebusinessinsights.com/quantum-computing-market-104855#:~:text=The%20quantum%20computing%20market%20size,USD%20308.2%20million%20in%202022.">grow over 32%</a> from 2023 to 2030, attracting attention toward multibagger <a href="https://investorplace.com/industries/technology/quantum-computing/">quantum computing stocks</a>.



Furthermore, industry developments such as IBM&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/ibm-stock-quote/">IBM</a>) <a href="https://newsroom.ibm.com/2022-11-09-IBM-Unveils-400-Qubit-Plus-Quantum-Processor-and-Next-Generation-IBM-Quantum-System-Two">433-qubit Osprey processor</a> represent a substantial advancement in quantum computing, enabling complicated calculations beyond traditional computers.



Amidst this, an investor may wonder how to buy multibagger quantum computing stocks. Compared to IBM and Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>), there is huge potential for reward and a little commitment when it comes to <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>. Moreover, the three multibagger quantum computing stocks we shall examine promise up to triple-digit potential. Today we&rsquo;re looking at stocks that offer strong gross margins, solid pioneering achievements and major quarterly performance advances.



<h2>Quantum Computing (QUBT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/Quantum1600-300x169.jpg" alt="A digital rendering of a circuit board and digital chip in neon colors to illustrate quantum computing"><div>Source: Shutterstock</div></div>Quantum Computing (NASDAQ:<a href="https://investorplace.com/stock-quotes/qubt-stock-quote/">QUBT</a>) creates low-cost nanophotonics-based quantum-tech industrial products.



The penny play, one of the most inexpensive multibagger quantum computing stocks, is down 15% in 2024. However, its strong gross margins of 45% are greater than 84% of its industry&rsquo;s, even though the company is losing money.



Most notably, through its quantum optimization platform, <a href="https://finance.yahoo.com/news/quantum-computing-inc-launches-quantum-130000034.html">Dirac-3</a>, QUBT is a leader in the field. Another creation of QUBT is the Quantum Photonic Vibrometer. Better vibration detection, perception and analysis are possible with the first quantum-accelerated photonics vibrometer. This business and military gadget detects explosives and hidden weapons up to 30 inches below the surface.



Furthermore, the company has expanded its CRADA to include use case testing using the Dirac-1 Entropy Quantum Computer at Los Alamos National Laboratory. 



The company was subcontracted by the <a href="https://quantumcomputinginc.com/news/press-releases/quantum-computing-inc-reports-third-quarter-and-nine-months-2023-financial-results">Bay Area Environmental Research Institute</a> to develop and test a photonic sensor for NASA Ames. This sensor enhances the company&rsquo;s NASA relationship by measuring the size, form and chemistry of clouds, aerosols and volcanic ash.&#8203;



A <a href="https://www.stocktitan.net/news/QUBT/quantum-computing-inc-awarded-fourth-subcontract-from-xnxms8hf5ctu.html">fourth NASA grant</a> was given to QUBT to use entropy quantum computing to denoise LiDAR spectrum data. This technology is needed for NASA missions in order to provide accurate measurements for observation and exploration at any time of day.



<h2>D-Wave Quantum (QBTS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/shutterstock_2138643549-300x169.jpg" alt="QBTS stock: Person holding mobile phone with logo of Canadian hardware company D-Wave Systems Inc. on screen in front of web page."><div>Source: T. Schneider / Shutterstock</div></div>Quantum computing gear, software and services provider D-Wave Quantum (NYSE:<a href="https://investorplace.com/stock-quotes/qbts-stock-quote/">QBTS</a>) reported strong revenue and bookings last quarter.



Sales rose 21% in Q4 and 22% in 2023. Q4 bookings up 34% and FY 89% year-over-year. Like QUBT, this penny stock will fluctuate.



Even though sales and bookings grew by more than 10%, QBTS didn&rsquo;t do better than experts expected. Earnings per share were -0.09, which was about 10% less than expected. There was a selloff because sales were 38% lower than expected, at $2.9 million instead of $4.7 million.



Moving towards its latest tech moves, the 1,200+ qubit <a href="https://finance.yahoo.com/news/d-wave-announces-availability-1-120000956.html">D-Wave Advantage2</a> prototype is now available via its Leap Quantum Cloud Service. This prototype&rsquo;s stacked superconducting integrated circuit manufacturing stack reduces noise. Complex applications like machine learning benefit from 20 times quicker optimization.



Moreover, D-Wave demonstrated quantum spin glass flow on over 5,000 qubits. This advances its annealing and gate-type quantum computer. Advantage2 <a href="https://www.dwavesys.com/company/newsroom/press-release/d-wave-demonstrates-first-ever-coherent-quantum-spin-glass-dynamics-on-more-than-5-000-qubits/">should have over</a> 7,000 qubits.



No superconducting qubit on the market has better coherence than D-Wave&rsquo;s fluxonium qubits. Gate model quantum computing systems improve fluxonium qubits. This will impact D-Wave&rsquo;s quantum technology.



The consensus on QBTS stock is &ldquo;Strong Buy,&rdquo; and its <a href="https://www.tipranks.com/stocks/qbts/forecast">80% growth potential</a> points to a rebound.



<h2>Rigetti Computing (RGTI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/quantumcomputingstocks1600-300x169.png" alt="IBM Q System One Quantum Computer at the Consumer Electronic Show CES 2020. Quantum computing stocks."><div>Source: Boykov / Shutterstock.com</div></div>The last of our top quantum computing multibaggers is Rigetti Computing (NASDAQ:<a href="https://investorplace.com/stock-quotes/rgti-stock-quote/">RGTI</a>). Similar to the previous two penny stocks, however, its last quarter was better than expected, giving it some brownie points.



RGTI&rsquo;s sales of $3.38 million exceeded estimates by 10%. Its EPS came in at a loss of $0.04 instead of $0.06, 32% better than anticipated.



In terms of innovation, <a href="https://finance.yahoo.com/quote/RGTI/press-releases/">Rigetti&rsquo;s 84-qubit</a> Ankaa-2 quantum computer makes mistakes 2.5 times less often than older QPUs. This is what made it a success when it came to operation and sales. The company got 98% of the time with two qubits correctly, which means the quantum bits worked well together.



Rigetti also wants to make quantum computing easier to access by combining the 9-qubit Novera QPU with existing systems. 



Internationally, Oxford Instruments NanoScience and Rigetti UK recently <a href="https://hostingjournalist.com/rigetti-oxford-instruments-launch-one-of-uks-first-quantum-computers/#:~:text=Rigetti%20UK%2C%20a%20subsidiary%20of,the%20UK's%20first%20quantum%20computers.">completed a project to</a> construct one of the first UK quantum computers. Horizon Quantum Computing also got a Rigetti Novera QPU for a <a href="https://www.globenewswire.com/news-release/2024/04/23/2867673/0/en/Rigetti-Computing-Delivers-Novera-QPU-to-Horizon-Quantum-Computing-for-Singapore-Based-Hardware-Testbed.html">hardware testbed in Singapore</a> so that it can grow in the Asia-Pacific region, which is the <a href="https://www.fortunebusinessinsights.com/asia-pacific-quantum-computing-market-107724#:~:text=Asia%20Pacific%20is%20the%20fastest,USD%206%2C528.8%20million%20by%202030.">fastest-growing</a> quantum computing market.



The upside potential is <a href="https://www.tipranks.com/stocks/rgti/forecast">significant at 170%</a>, with a consensus recommendation of &ldquo;Strong Buy.&rdquo;



On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-quantum-computing-stocks-that-could-be-multibaggers-in-the-making-april-edition/">3 Quantum Computing Stocks That Could Be Multibaggers in the Making: April Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Quantum Computing Stocks That Could Be Multibaggers in the Making: April Edition

The 9 QC stocks were up 1.4% last week, on average, but down 9.4% during the month of April are now down 1.6% YTD.

April Recap: Quantum Computing Hardware Developers Portfolio Down 9%

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At first glance, the concept of <a href="https://investorplace.com/stock-types/dividend-stocks/">dividend stocks</a> to buy on the dip might clash with your instincts. Right now, the combination of robust employment and soaring energy prices may have put the brakes on strategies designed to lower the benchmark interest rate.



Should rates move higher, U.S. government bonds &ndash; about as safe of a debt security class as you can get &ndash; may compete with the passive income provided by private enterprises. As good of an organization as top-tier blue chips may be, nothing beats the security of Uncle Sam. Nevertheless, given the tense environment, policymakers might not want to rock the boat.



Should the monetary policy environment more or less remain muted, then corporate-backed passive income may look attractive. In that case, investors should consider these dividend stocks to buy on the dip.



<h2>IBM (IBM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/ibm-building-1600-300x169.jpg" alt="Photo of IBM (IBM) building as seen through the canopy of a tree. IBM logo is in large letters on side of building."><div>Source: shutterstock.com/LCV</div></div>Superficially, legacy technology juggernaut IBM (NYSE:<a href="https://investorplace.com/stock-quotes/ibm-stock-quote/">IBM</a>) seems an awfully risky idea for dividend stocks to buy on the dip. Recently, the company disclosed its first-quarter earnings report. On the bottom line, it produced <a href="https://www.cnbc.com/2024/04/24/ibm-q1-earnings-report-2024-ibm-to-acquire-hashicorp.html">adjusted earnings per share of $1.68</a>, beating the consensus target of $1.60. However, it could only muster sales of $14.46 billion, below the projected view of $14.55 billion.



As well, investors didn&rsquo;t seem to appreciate Big Blue&rsquo;s acquisition of cloud software maker HashiCorp (NASDAQ:<a href="https://investorplace.com/stock-quotes/hcp-stock-quote/">HCP</a>). <a href="https://www.investors.com/news/technology/ibm-to-acquire-hashicorp-for-6-4-billion-shares-fall-as-company-reports-q1-results/">IBM announced that it intends to pay $35 per share</a> in cash for HashiCorp. Still, CNBC reports that the deal would be accretive to adjusted EBITDA in the first full year following the closing of the transaction. It will also be accretive to free cash flow in the second year after the closing.



Further, it doesn&rsquo;t seem that analyst are respecting the significant acumen that IBM brings to the table, including artificial intelligence. While they start to catch on, you can acquire shares and benefit from the forward annual dividend yield of 3.61%.



<h2>ConocoPhillips (COP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/oil-stocks1600-300x169.png" alt="Oil. 3D Illustration. Oil stocks are up. Penny Oil Stocks"><div>Source: Pavel Ignatov / Shutterstock.com</div></div>As mostly an upstream hydrocarbon specialist, ConocoPhillips (NYSE:<a href="https://investorplace.com/stock-quotes/cop-stock-quote/">COP</a>) fundamentally clashes with modern energy sensibilities. These days, the political and scientific framework is increasingly pushing adoption and integration of renewable energy solutions. However, the geopolitical flashpoints that have sprouted in multiple parts of the world have articulated the importance of hydrocarbons.



Whether we like it or not, the world continues to run on oil. Further, when global supply chains of this vital commodity are disrupted, it could easily spike prices higher. At the same time, the upstream component of the value chain &ndash; the exploration and production cycle &ndash; becomes particularly crucial. Essentially, impacted nations must look for new sources of crude.



For the current fiscal year, covering experts project ConocoPhillips&rsquo; sales to hit $59.39 billion on average. That&rsquo;s only a 1.4% increase from last year. However, the high-side estimate calls for $70.31 billion. That seems far likelier given the geopolitical backdrop.



For speculators, COP is off from its early April highs. With a forward yield of 2.77%, it could be one of the dividend stocks to buy on the dip.



<h2>Pfizer (PFE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/pfe-stock-2-300x169.jpg" alt="blue Pfizer logo on the windows of a corporate building PFR stock"><div>Source: photobyphm / Shutterstock.com</div></div>At one point, Pfizer (NYSE:<a href="https://investorplace.com/stock-quotes/pfe-stock-quote/">PFE</a>) ranked among the most important pharmaceutical companies in the world. I speak of course of the company&rsquo;s contributions in forwarding a Covid-19 vaccine. However, fears of the SARS-CoV-2 virus dramatically faded since early 2022. You can see it in the charts. It&rsquo;s almost as if the rug was pulled underneath PFE stock.



To be fair, the descent continues. Since the start of the year, PFE has lost 15% of equity value. In the trailing month, it&rsquo;s down more than 8%. Now, I don&rsquo;t necessarily like the idea of catching falling knives. However, the downturn in Pfizer may be overdone &ndash; or close to reaching that point.



After all, the company gained valuable insights and experience working with messenger-RNA. It could then springboard the tech to address other critical needs. For now, though, the Covid fallout remains the talking point. Analysts anticipate a 4.1% decline in fiscal 2024 sales to $56.07 billion.



Still, while you&rsquo;re waiting for the narrative to possibly turn right-side up, Pfizer offers a forward yield of 6.4%. It&rsquo;s awfully tempting.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-dividend-stocks-to-buy-on-the-dip-april-2024/">3 Dividend Stocks to Buy on the Dip: April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Dividend Stocks to Buy on the Dip: April 2024

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