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Citigroup analyst Ashwin Shirvaikar maintains Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) with a Buy and lowers the price target from $321 to $319.

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Analyst Ratings

Citigroup Maintains Buy on Visa, Lowers Price Target to $319

Wedbush analyst Jay McCanless maintains PennyMac Financial Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFSI#NYSE">PFSI</a>) with a Outperform and raises the price target from $110 to $120.

PFSI

Wedbush Maintains Outperform on PennyMac Financial Servs, Raises Price Target to $120

This was a fascinating week featuring political shifts, increased market volatility, and a week-long drop in the stock prices of the mega-cap tech leaders that have been supporting the equity market indexes the past couple of years. This week, we&rsquo;re focused on higher retail sales and wondering if anything will slow the consumer. Higher jobless claims make people think the Fed is almost 100% certain to cut rates by September. China is trying to keep its banks from imploding. Treasury Secretary, Yellen, is shortening the duration of the government bond market leading to larger auctions with less comparative demand. (Don&rsquo;t worry &ndash; we&rsquo;ll explain.) Finally, I address some critics who insist that all would be fine if we could just get people to pay more in taxes. As usual, DKI Interns, Alex Petrou and Andrew Brown, come through with their usual high-quality work and excellent analysis.
This week, we&rsquo;ll address the following topics:
<ul>
<li>
Retail sales stronger than expected. Rate cut expectations still increased?!
</li>
<li>
Jobless claims come in high. Rate cut expectations increased.
</li>
<li>
The Magnificent Seven&rsquo;s Awful Terrible Week.
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<li>
China throws liquidity at its banking sector.
</li>
<li>
Treasury auctions getting larger and weaker.
</li>
<li>
Tax receipts vs government spending:&nbsp; Which one is out of line?
</li>
</ul>
Ready for another week of waiting for rate cuts (or Godot)? Let&rsquo;s dive in:
<ul>
<li>
Strong Retail Sales and Possible Rate Cuts:
</li>
</ul>
Recent adjustments to the GDPNow model, which estimates U.S. economic growth in real-time, indicate a more robust second quarter for 2024 than initially anticipated. The nowcast has increased from 2.0 percent to 2.5 percent, fueled by stronger than expected retail sales and a rise in personal consumption expenditures from 1.6 percent to 2.1 percent. Real final sales also improved, climbing from 1.3 percent to 1.7 percent.
<img alt="gdp_retail_sales.jpeg" src="https://www.benzinga.com/files/u1593113/gdp_retail_sales.jpeg" style="height:389px; width:624px" />
Graph from <a href="https://mishtalk.com/economics/better-than-expected-retail-sales-boosts-gdpnow-nowcast/">https://mishtalk.com/economics/better-than-expected-retail-sales-boosts-gdpnow-nowcast/</a>
DKI Takeaway:&nbsp; This marker of economic strength complicates the case for a Federal Reserve rate cut. Despite the market pricing in a 98.1 percent probability of a rate cut in September, up from 67 percent a month ago, this optimism may be misplaced. The Fed typically responds to weaker economic conditions or subdued inflation, neither of which align with the current robust retail sales data and GDP projections. With consumer spending proving resilient, the Fed may find it prudent to maintain current rates to avoid fueling inflation further. Analysts projecting a high probability of a rate cut might also be underestimating the Fed&#39;s cautious stance. The central bank is likely to weigh the solid economic data heavily against market expectations. Considering these indicators, it appears more plausible that the Fed will hold off on rate cuts (or at least more plausible than the market thinks). DKI maintains its position that the Fed, and specifically Chair Jerome Powell, are more concerned about reigniting inflation by cutting rates too soon. Additionally, cutting rates before an election could be perceived as politically motivated, a scenario the Fed is keen to avoid in order to maintain the perception of political neutrality.
<ul>
<li>
Jobless Claims Come in High:
</li>
</ul>
For the week ending July 13th, initial jobless claims in the United States surged to 243,000, up from 223,000 the previous week. This increase of 20,000 claims exceeded the original estimate of 229,000 by 14,000. Several factors may have contributed to this unexpected rise. One significant factor was Hurricane Beryl, which impacted Houston last week, potentially leading to a temporary increase in jobless claims due to disruptions in businesses and employment. Additionally, the end of a U.S. holiday period can sometimes lead to fluctuations in jobless claims as seasonal employment adjusts. Despite the caveats, this is a sign of a cooling labor market.&nbsp;
<img alt="jobless_claims.jpg" src="https://www.benzinga.com/files/u1593113/jobless_claims.jpg" style="height:372px; width:624px" />
This isn&rsquo;t even close to awful, but the recent trend hasn&rsquo;t been great.
DKI Takeaway:&nbsp; This week&rsquo;s spike in claims is significant as the unemployment rate continues its gradual ascent to the highest level since January 2022 (4.1%). With the labor market showing signs of cooling, there is increasing pressure for the Federal Reserve to consider pivoting towards rate cuts. Many are hopeful that a rise in unemployment might prompt such a move by Chair Powell. However, the Federal Reserve must navigate its dual mandate carefully. Although inflation is decreasing, it has yet to reach the 2% target, and unemployment is on the rise. Ultimately, the Fed will need to prioritize one objective over the other, with inflation remaining the biggest threat lurking in our economy.
<ol>
<li>
The Magnificent Seven&rsquo;s Awful Terrible Week:
</li>
</ol>
After a week of economic uncertainty, tech stocks experienced a sharp decline. A major factor was former President Trump&rsquo;s statement that the U.S. would not defend Taiwan if attacked by China, and suggesting that Taiwan should pay the U.S. for its defense. This caused a sell-off in chip stocks such as Nvidia (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), Taiwan Semiconductor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>), and Advanced Micro Devices (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>). Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) also faced challenges due to a cybersecurity attack, which led to a drop in its stock price. Additionally, Netflix (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) had a good quarter, but guided to 3Q revenue of $9.73 billion which was below the consensus estimate of $9.83 billion.
<img alt="magnificent_seven.jpg" src="https://www.benzinga.com/files/u1593113/magnificent_seven.jpg" style="height:373px; width:624px" />
A bad week with NVDA and META down more than 10% from the prior week.
DKI Takeaway:&nbsp; A widespread tech sell-off has been anticipated for months. Over the past two years, we&#39;ve witnessed a surge in the mega-cap Magnificent 7, but with the tech sector priced for perfection, it doesn&rsquo;t take much for these stocks to fall. These companies have become expensive, and as the economy slows down, the tech sector may follow suit. Over the next couple of weeks, earnings reports from several of the Magnificent 7 will provide key indicators of market direction. Additionally, Tesla has reported a 24% drop in car registrations and Apple has seen multiple quarters of declining device sales, reflecting broader economic trends and product competition.
<ul>
<li>China Throws Liquidity at its Banking Sector:</li>
</ul>
Amid rising deflationary pressures and a contracting property market, China is taking aggressive steps to stabilize its economy.&nbsp;@Peruvian_Bull recently reported on Substack (<a href="https://substack.com/home/post/p-146489585">https://substack.com/home/post/p-146489585</a>) that the People&#39;s Bank of China (PBoC) has injected over $100 billion into the banking system, marking the highest liquidity levels since February 2024. This move comes in response to a banking crisis where 40 Chinese banks have collapsed recently. Commercial banks are also facing declining profits with net interest margins dropping to historic lows of 1.73% by September 2023.&nbsp;
<img alt="pboc_rr.jpg" src="https://www.benzinga.com/files/u1593113/pboc_rr.jpg" style="height:291px; width:624px" />
Malinvestment has put Chinese banks at risk. Graph by TradingView.
DKI Takeaway: As property investments contracted by 8% in 2023 and transaction volumes fell sharply, the PBoC&#39;s aggressive liquidity injection aims to stabilize the system and prevent further economic decline. The substantial liquidity boost underscores the gravity of the current economic situation and the lengths to which Chinese policymakers are going to manage deflationary pressures and support the financial system. @LynAldenContact, in a recent MacroVoices episode (<a href="https://open.spotify.com/episode/5U4QfgkraOEe0w1JJi6jBS?si=ac550bf98e074bbf" title="https://open.spotify.com/episode/5U4QfgkraOEe0w1JJi6jBS?si=ac550bf98e074bbf">https://open.spotify.com/episode/5U4QfgkraOEe0w1JJi6jBS?si=ac550bf98e074bbf</a>), highlighted ongoing weaknesses in China&rsquo;s housing market and consumer consumption, despite strong industrial production. She pointed out that these trends echo Japan&rsquo;s disinflationary period, whereby highly indebted private debt bubbles lead to a rotation from the private sector to the public sector. The years of propping up the housing market is starting to show in a slow-motion unravelling on malinvestment. Referring to both Peruvian Bull and Lyn Alden this &lsquo;intervention&rsquo; by the PBoC is not the largest liquidity injection by the Chinese government; however, if these issues persist, it is likely this will not be the end of China&rsquo;s issues as this indebted system continues to unravel.
<ul>
<li>Treasury Auctions Getting Larger and Weaker:&nbsp;</li>
</ul>
A long-standing DKI opinion is that government spending levels are unsustainable and are worsening. The government funds this excess spending through bond issuance, with each auction revealing different dynamics. Since COVID, Treasury Secretary, Janet Yellen, has shifted bond issuances toward the front of the yield curve, moving from long-dated bonds to short-term debt. This trend is concerning, as similar patterns were observed in Zimbabwe before its hyperinflation in the 2000s and more recently in Venezuela. These countries relied on short-term debt to manage immediate cash flow issues, which ultimately exacerbated their economic instability. The risk of this is shorter-term debt needs to be refinanced more frequently which causes the size of government bond auctions to increase.
<img alt="apollo_treasury_issuance_.jpg" src="https://www.benzinga.com/files/u1593113/apollo_treasury_issuance_.jpg" style="height:376px; width:624px" />
Graph from <a href="https://www.apolloacademy.com/the-deteriorating-us-fiscal-situation/">Apollo Academy</a>. That&rsquo;s a big increase, especially for shorter-term bonds.
DKI Takeaway: Each auction tells its own story and Treasury traders measure each auction&rsquo;s success using key metrics like the bid-to-cover ratio and the auction tail. The bid-to-cover ratio compares the number of bids to the quantity accepted, indicating demand. The auction tail measures the difference between the highest accepted yield and the expected yield, with a large positive tail signaling weaker-than-expected demand. More detail on this subject can be found in an insightful thread by James Lavish @JamesLavish (<a href="https://twitter.com/jameslavish/status/1577334009092198400">https://twitter.com/jameslavish/status/1577334009092198400</a>). Looking ahead, U.S. Treasury issuance is expected to reach record levels later this year. Some argue that such trillions of dollars of issuance could be a sign encouraging a cut in the Fed Funds Rate (FFR) by September. However, it&#39;s crucial to remember that bond yields are determined by the market, not directly by the FFR. In addition, the market for US Treasuries is deep, but everything has demand limits depending on price.
<ul>
<li>Tax Receipts vs Government Spending:</li>
</ul>
As part of the 5 Things a couple of weeks ago, <a href="https://x.com/Gary_Brode/status/1810993093279146410">we talked about</a> how Fed Chairman, Powell, called out Congressional overspending as unsustainable. The Fed has been trying to slow the economy and reduce inflation through rate hikes. Congress and the White House (aided by the Treasury Department) have been engaging in trillions of dollars of inflation-causing stimulus spending while many in Congress insist that Powell lower the fed funds rate to make the borrowing costs of all that extra debt less expensive. When I pointed out that Powell is correct that Congress is both causing inflation and incurring debts that are unpayable, I got some pushback on Twitter/X. Several thought the real problem was tax cuts that were denying the government the &ldquo;revenue&rdquo; it needed to pursue all spending plans regardless of value. Let&rsquo;s take a look at whether the data supports that.
<img alt="federal_government_rev__exp_long_term.jpg" src="https://www.benzinga.com/files/u1593113/federal_government_rev__exp_long_term.jpg" style="height:372px; width:624px" />
That&rsquo;s a big increase in tax collections with a bigger increase in spending.
DKI Takeaway: The growth in the size of government has become exponential. To me, it seems clear that with tax collections of $5 trillion, the government has the means and opportunity to do plenty. As quickly as tax collections have grown, government spending has grown even faster. I understand the concept that taxing the &ldquo;rich&rdquo; can be a way to pay for benefits for the poor. However, as the government spends more, that additional stimulus, which is focused on consumption, not investment, is creating inflation. Inflation works fine for the wealthy who can take on fiat-denominated debt to buy hard assets. It&rsquo;s been terrible for less affluent people who can only save in depreciating dollars and who have been facing increasing budgetary issues due to rising rent along with higher food and fuel prices. While I understand both sides of this argument, I continue to believe we&rsquo;d all (rich and poor) be better off with a government that is a more modest part of the economy.
Information contained in this report, and in each of its reports, is believed by Deep Knowledge Investing (&ldquo;DKI&rdquo;) to be accurate and/or derived from sources which it believes to be reliable; however, such information is presented without warranty of any kind, whether express or implied.&nbsp; DKI makes no representation as to the completeness, timeliness, accuracy or soundness of the information and opinions contained therein or regarding any results that may be obtained from their use.&nbsp;The information and opinions contained in this report and in each of our reports and all other DKI Services shall not obligate DKI to provide updated or similar information in the future, except to the extent it is required by law to do so.
The information we provide in this and in each of our reports, is publicly available. This report and each of our reports are neither an offer nor a solicitation to buy or sell securities. All expressions of opinion in this and in each of our reports are precisely that. Our opinions are subject to change, which DKI may not convey. DKI, affiliates of DKI or its principal or others associated with DKI may have, taken or sold, or may in the future take or sell positions in securities of companies about which we write, without disclosing any such transactions.
None of the information we provide or the opinions we express, including those in this report, or in any of our reports, are advice of any kind, including, without limitation, advice that investment in a company&rsquo;s securities is prudent or suitable for any investor. In making any investment decision, each investor should consult with and rely on his or its own investigation, due diligence and the recommendations of investment professionals whom the investor has engaged for that purpose.
In no event shall DKI be liable, based on this or any of its reports, or on any information or opinions DKI expresses or provides for any losses or damages of any kind or nature including, without limitation, costs, liabilities, trading losses, expenses (including, without limitation, attorneys&rsquo; fees), direct, indirect, punitive, incidental, special or consequential damages.

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5 Things To Know In Investing This Week: The Rate Cut Expectations Are 100% Issue

Old Dominion Freight Line (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/odfl#NASDAQ">ODFL</a>) came out with quarterly earnings of $1.48 per share, beating the Zacks Consensus Estimate of $1.45 per share. This compares to earnings of $1.33 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2.07%. A quarter ago, it was expected that this trucking company would post earnings of $1.33 per share when it actually produced earnings of $1.34, delivering a surprise of 0.75%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Old Dominion, which belongs to the Zacks Transportation - Truck industry, posted revenues of $1.5 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.04%. This compares to year-ago revenues of $1.41 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Old Dominion shares have lost about 4.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.5%.
What&#39;s Next for Old Dominion?
While Old Dominion has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Old Dominion: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.59 on $1.61 billion in revenues for the coming quarter and $5.90 on $6.15 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Truck is currently in the bottom 6% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Forward Air (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fwrd#NASDAQ">FWRD</a>), is yet to report results for the quarter ended June 2024.
This contractor for the air cargo industry is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -107.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Forward Air&#39;s revenues are expected to be $643.8 million, up 60.1% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2307549/old-dominion-freight-line-odfl-tops-q2-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2307549">To read this article on Zacks.com click here.</a>

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FWRD

ODFL

Old Dominion Freight Line Tops Q2 Earnings Estimates

Citigroup analyst Ronald Josey maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and raises the price target from $190 to $212.

GOOG

GOOGL

Citigroup Maintains Buy on Alphabet, Raises Price Target to $212

Interpublic Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ipg#NYSE">IPG</a>) came out with quarterly earnings of $0.61 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this marketing and advertising company would post earnings of $0.36 per share when it actually produced earnings of $0.36, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Interpublic, which belongs to the Zacks Advertising and Marketing industry, posted revenues of $2.33 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.10%. This compares to year-ago revenues of $2.33 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Interpublic shares have lost about 8.3% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.5%.
What&#39;s Next for Interpublic?
While Interpublic has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Interpublic: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.70 on $2.31 billion in revenues for the coming quarter and $2.80 on $9.89 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Advertising and Marketing is currently in the bottom 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, National CineMedia (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ncmi#NASDAQ">NCMI</a>), is yet to report results for the quarter ended June 2024.
This theater advertising company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +88.6%. The consensus EPS estimate for the quarter has been revised 100% lower over the last 30 days to the current level.
National CineMedia&#39;s revenues are expected to be $50.43 million, up 240.8% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2307552/interpublic-group-ipg-q2-earnings-meet-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2307552">To read this article on Zacks.com click here.</a>

Media

NCMI

Interpublic Group Q2 Earnings Meet Estimates

Cantor Fitzgerald analyst Brett Knoblauch reiterates Riot Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) with a Overweight and maintains $23 price target.

Reiteration

RIOT

Cantor Fitzgerald Reiterates Overweight on Riot Platforms, Maintains $23 Price Target

International Paper (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ip#NYSE">IP</a>) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.59 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 37.50%. A quarter ago, it was expected that this global paper and packaging company would post earnings of $0.23 per share when it actually produced earnings of $0.17, delivering a surprise of -26.09%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
International Paper, which belongs to the Zacks Paper and Related Products industry, posted revenues of $4.73 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.79%. This compares to year-ago revenues of $4.68 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
International Paper shares have added about 27% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.5%.
What&#39;s Next for International Paper?
While International Paper has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for International Paper: favorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.63 on $4.86 billion in revenues for the coming quarter and $2.01 on $19.14 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Paper and Related Products is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Smurfit Westrock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sw#NYSE">SW</a>), has yet to report results for the quarter ended June 2024. The results are expected to be released on July 30.
This paper and packaging company is expected to post quarterly earnings of $0.70 per share in its upcoming report, which represents a year-over-year change of -21.4%. The consensus EPS estimate for the quarter has been revised 4.3% lower over the last 30 days to the current level.
Smurfit Westrock&#39;s revenues are expected to be $7.95 billion, up 55.3% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2307551/international-paper-ip-q2-earnings-surpass-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2307551">To read this article on Zacks.com click here.</a>

International Paper Q2 Earnings Surpass Estimates

Cantor Fitzgerald analyst Andres Sheppard reiterates Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Overweight and maintains $230 price target.

TSLA

Cantor Fitzgerald Reiterates Overweight on Tesla, Maintains $230 Price Target

CME Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cme#NASDAQ">CME</a>) came out with quarterly earnings of $2.56 per share, beating the Zacks Consensus Estimate of $2.51 per share. This compares to earnings of $2.30 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 1.99%. A quarter ago, it was expected that this parent company of the Chicago Board of Trade and other exchanges would post earnings of $2.44 per share when it actually produced earnings of $2.50, delivering a surprise of 2.46%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
CME, which belongs to the Zacks Securities and Exchanges industry, posted revenues of $1.53 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.99%. This compares to year-ago revenues of $1.36 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
CME shares have lost about 6.3% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.5%.
What&#39;s Next for CME?
While CME has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for CME: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $2.36 on $1.44 billion in revenues for the coming quarter and $9.77 on $5.92 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Securities and Exchanges is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
OTC Markets Group Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/otcm#OTC">OTCM</a>), another stock in the same industry, has yet to report results for the quarter ended June 2024.
This company is expected to post quarterly earnings of $0.66 per share in its upcoming report, which represents a year-over-year change of +15.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
OTC Markets Group Inc.&#39;s revenues are expected to be $28.06 million, up 3.1% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2307550/cme-group-cme-tops-q2-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2307550">To read this article on Zacks.com click here.</a>

OTCM

CME Group Tops Q2 Earnings and Revenue Estimates

<a href="https://www.youtube.com/watch?v=N6XZKE7a_F4" title="https://www.youtube.com/watch?v=N6XZKE7a_F4">https://www.youtube.com/watch?v=N6XZKE7a_F4</a>

Macro Notification

Politics

General

ISRA

'Israeli Prime Minister Netanyahu addresses joint session of Congress'

Cantor Fitzgerald analyst Sarah James reiterates HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) with a Overweight and maintains $335 price target.

Cantor Fitzgerald Reiterates Overweight on HCA Healthcare, Maintains $335 Price Target

Teledyne Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdy#NYSE">TDY</a>) came out with quarterly earnings of $4.58 per share, beating the Zacks Consensus Estimate of $4.49 per share. This compares to earnings of $4.67 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2%. A quarter ago, it was expected that this defense and aerospace industry supplier would post earnings of $4.64 per share when it actually produced earnings of $4.55, delivering a surprise of -1.94%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Teledyne, which belongs to the Zacks Aerospace - Defense Equipment industry, posted revenues of $1.37 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.18%. This compares to year-ago revenues of $1.42 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Teledyne shares have lost about 9.9% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.5%.
What&#39;s Next for Teledyne?
While Teledyne has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Teledyne: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $5.07 on $1.43 billion in revenues for the coming quarter and $19.34 on $5.64 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense Equipment is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Spirit Aerosystems (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spr#NYSE">SPR</a>), another stock in the same industry, has yet to report results for the quarter ended June 2024. The results are expected to be released on August 5.
This aircraft parts maker is expected to post quarterly loss of $0.98 per share in its upcoming report, which represents a year-over-year change of +32.9%. The consensus EPS estimate for the quarter has been revised 146% lower over the last 30 days to the current level.
Spirit Aerosystems&#39; revenues are expected to be $1.53 billion, up 12.2% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2307534/teledyne-technologies-tdy-surpasses-q2-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2307534">To read this article on Zacks.com click here.</a>

Teledyne Technologies Surpasses Q2 Earnings Estimates

<a href="https://blogs.bing.com/search/July-2024/generativesearch" title="https://blogs.bing.com/search/July-2024/generativesearch">https://blogs.bing.com/search/July-2024/generativesearch</a> &nbsp;

'Introducing Bing Generative Search' - Microsoft

Cantor Fitzgerald analyst C J Muse reiterates NXP Semiconductors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) with a Overweight and maintains $350 price target.

NXPI

Cantor Fitzgerald Reiterates Overweight on NXP Semiconductors, Maintains $350 Price Target

Northland Capital Markets analyst Owen Rickert maintains Life Time Group Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTH#NYSE">LTH</a>) with a Outperform and raises the price target from $23 to $27.

Northland Capital Markets Maintains Outperform on Life Time Group Hldgs, Raises Price Target to $27

The SPDR S&amp;P 500 Index (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) opened sharply lower Wednesday <a href="https://www.benzinga.com/news/earnings/24/07/39932395/tesla-stock-is-sliding-wednesday-whats-going-on">following disappointing earnings reports</a> from mega-cap tech stocks like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>). But, Cameron Dawson, chief investment officer at NewEdge Wealth, said that it was too early to call a top in the market and that the recent downturn doesn't mean the bull market is necessarily over. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Volatility And Momentum In The Market - Cameron Dawson, CIO NewEdge Wealth" width="500" height="281" src="https://www.youtube.com/embed/v8PLTQ26CGg?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
"They're upset because they're conditioned to such low volatility, we've been in this unflinching up and to the right type of market so when you get a little tiny ounce of volatility, it feels so foreign to the world we've been in," <a href="https://www.youtube.com/watch?v=v8PLTQ26CGg">Dawson said. </a>See Also: <a href="https://www.benzinga.com/news/earnings/24/07/39932450/whats-going-on-with-alphabet-stock-wednesday">What&#8217;s Going On With Alphabet Stock Wednesday?</a><a href="https://www.benzinga.com/news/earnings/24/07/39932450/whats-going-on-with-alphabet-stock-wednesday"> </a>Dawson said that the overall trend of the market is still bullish, and thus far on any sustained dips, buyers have come in helping to lift stocks back higher. The VIX, which tracks market volatility, has shot higher by 25% in the last month, an indication that market volatility is on the rise after historically low levels of volatility throughout 2024.
On Wednesday, amid the overall market's downturn, the VIX continued to move higher by more than 10% as traders and investors appeared wary following Google's and Tesla's earnings reports. But, Dawson argued that it's too early to call the recent downturn a trend reversal, and that buyers may be willing to come in and buy the dip.
"This market absolutely demands that you respect the trend," <a href="https://www.youtube.com/watch?v=v8PLTQ26CGg">Dawson said.</a> "Every time we pullback you see buyers step in. It doesn't mean that you can ignore certain risks, it doesn't mean that you can ignore some deterioration under the surface… but overall until we see signs that the trend is truly deteriorating we're still in the ‘respect the trend camp.'&#8221;
&#8220;You can have an uptrend and still have pullbacks, and it's perfectly healthy,&#8221; she added. Read Next:
<ul>
<li> <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39934981/us-services-activity-hits-28-month-peak-price-pressures-continue-to-ease-economist-">US Services Activity Hits 28-Month Peak, Price Pressures Continue To Ease: Economist Calls It &#8216;A Goldilocks Scenario&#8217;</a></li>
</ul>
Photo: Cameron Dawson/NewEdge Wealth lolo/Unsplash

Equities

Buy The Dip? Market Expert Says Recent Pullback Part Of Healthy Bull Market: 'A Little Tiny Ounce Of Volatility, It Feels So Foreign'

Vice President Kamala Harris has landed key endorsements and donations from the entertainment industry ahead of her likely nomination for president in<a href="https://www.benzinga.com/topic/2024-election"> the 2024 election.</a>
What Happened: Harris gained support and endorsements<a href="https://www.benzinga.com/general/politics/24/07/39892716/nancy-pelosi-endorses-kamala-harris-for-president-full-confidence-that-she-will-lead-us-to-victo"> from key members of Congress</a> in her fight to secure the Democratic Party's nomination for president in the 2024 election.
The vice president is now gaining support from celebrities and entertainment leaders through their words and their wallets.
Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) heiress and philanthropist Abigail Disney is one of the latest to back Harris and her endorsement could be an important one.
"I am supporting her with all my heart," Disney told a New York Times <a href="https://www.nytimes.com/live/2024/07/22/us/biden-harris-trump-news-election?smid=url-share#8c1800ca-aa15-593a-bb20-af4bb8cdef80">reporter</a>.
The filmmaker and philanthropist is planning to make a donation to Harris and plans to host a fundraising event for the vice president, as <a href="https://variety.com/2024/biz/news/abigail-disney-kamala-harris-presidential-campaign-donation-1236081632/">reported </a>by Variety.
Disney <a href="https://www.benzinga.com/news/24/07/39640413/im-not-going-anywhere-biden-rebuffs-calls-for-withdrawal-from-presidential-election-during-fourth-of">previously said</a> she would no longer donate to the Democratic Party "unless and until" President Joe Biden was replaced in the 2024 election. Disney was a key supporter for Harris being the replacement, saying she could beat Donald Trump.
"If Democrats can find a way to stop quibbling and rallying around her, we can win this election by a lot," Disney previously said. &nbsp;
Disney may not be the biggest donor to the Democratic Party or Harris' campaign, but her name resonates with the entertainment sector and her call to host a fundraising party could be a key for campaign contributions moving forward.
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/07/39896462/the-simpsons-does-it-again-could-this-animated-show-veep-barbie-foreshadow-kamala-harris-wi">&#8216;The Simpsons&#8217; Does It Again? Could This Animated Show, &#8216;Veep,&#8217; &#8216;Barbie&#8217; Foreshadow Kamala Harris Winning 2024 Election</a>
Why It's Important: Disney isn't the only member of the entertainment sector to support and donate to Harris.
The vice president picked up<a href="https://www.benzinga.com/news/24/07/39932764/kamala-harris-presidential-campaign-secures-7m-from-netflix-co-founder-reed-hastings"> a $7 million donation </a>from Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) co-founder and Executive Chairman Reed Hastings, via a super PAC. The donation marks the largest single candidate donation by Hastings.
"Congrats to Kamala Harris — now is the time to win," Hastings recently <a href="https://x.com/reedhastings/status/1815603833927815360">tweeted</a>.
Actor George Clooney made headlines for supporting Biden and then <a href="https://www.benzinga.com/general/politics/24/07/39737498/do-nancy-pelosi-barack-obama-want-joe-biden-to-step-aside-in-2024-election">later writing an op-ed </a>for the president to step down. The actor has pledged his support to Harris since Biden stepped down.
"We're all so excited to do whatever we can to support Vice President Harris in her historic quest," Clooney said in a statement <a href="https://ew.com/george-clooney-endorses-kamala-harris-after-calling-joe-biden-step-down-8682377">shared </a>by Entertainment Weekly.
Similar to Disney, Clooney's support may not be the biggest financially, but comes after calling out the party and for Biden to step aside.
Other celebrities endorsing Harris include Katy Perry, John Legend, Jamie Lee Curtis, Kathy Griffin, Charli XCX, George Takei, Demi Lovato, Cardi B and Sheryl Lee Ralph, according to reports from <a href="https://www.bbc.com/news/articles/c1e5x1yyj5xo">BBC </a>and <a href="https://www.newsweek.com/celebrities-endorsing-kamala-harris-president-1928276">Newsweek</a>.
Harris raised a reported $81 million in the first 24 hours after Biden dropped out of the race.
The entertainment sector has been key for support and donations to Biden in recent years. With many turning against or saying they wouldn't donate until the president stepped down, Harris could benefit from Hollywood in the months ahead.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39919247/who-will-kamala-harris-pick-for-vice-president-crypto-bettors-have-4-favorites-for-democra">Who Will Kamala Harris Pick For Vice President? Crypto Bettors Have 4 Favorites For Democratic Party Running Mate</a></li>
</ul>
Photo: Shutterstock

Entertainment

Kamala Harris Goes Hollywood: Vice President Gets Key Backers Abigail Disney, Reed Hastings, George Clooney And More In 2024 Election Race

Investors with a lot of money to spend have taken a bullish stance on Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</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 WDC, 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 13 uncommon options trades for Western Digital.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 46%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $202,920, and 10 are calls, for a total amount of $484,993.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $80.0 for Western Digital over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Western Digital stands at 2574.6, with a total volume reaching 1,772.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Western Digital, situated within the strike price corridor from $60.0 to $80.0, throughout the last 30 days.
<h3>Western Digital 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721844073_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$16.85</td>
<td>$16.55</td>
<td>$16.73</td>
<td>$60.00</td>
<td>$125.4K</td>
<td>1.8K</td>
<td style="text-align: right;">75</td>
</tr>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$9.7</td>
<td>$9.45</td>
<td>$9.7</td>
<td>$70.00</td>
<td>$96.9K</td>
<td>2.0K</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$16.85</td>
<td>$16.35</td>
<td>$16.73</td>
<td>$60.00</td>
<td>$75.2K</td>
<td>1.8K</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$7.55</td>
<td>$7.3</td>
<td>$7.55</td>
<td>$65.00</td>
<td>$74.7K</td>
<td>549</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$5.7</td>
<td>$5.5</td>
<td>$5.7</td>
<td>$68.00</td>
<td>$57.0K</td>
<td>187</td>
<td style="text-align: right;">100</td>
</tr>
</tbody>
</table>

<h3>About Western Digital</h3>
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
Having examined the options trading patterns of Western Digital, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Western Digital Standing Right Now?</h3>
<ul>
<li>With a volume of 3,448,062, the price of WDC is down -0.58% at $72.54. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 7 days.</li>
</ul>
<h3>Professional Analyst Ratings for Western Digital</h3>
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $93.33333333333333.
<ul>
<li>Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Western Digital, targeting a price of $90. </li>
<li>Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Western Digital with a target price of $95. </li>
<li>An analyst from Wedbush persists with their Outperform rating on Western Digital, maintaining a target price of $95. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Western Digital with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Western Digital Unusual Options Activity

Financial giants have made a conspicuous bullish move on FTAI Aviation. Our analysis of options history for FTAI Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) revealed 9 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $171,570, and 6 were calls, valued at $749,459.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $90.0 to $140.0 for FTAI Aviation over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for FTAI Aviation's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of FTAI Aviation's whale activity within a strike price range from $90.0 to $140.0 in the last 30 days. 
<h3>FTAI Aviation 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721844068_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FTAI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$28.0</td>
<td>$26.3</td>
<td>$28.0</td>
<td>$90.00</td>
<td>$391.5K</td>
<td>55</td>
<td>140</td>
</tr>
<tr>
<td>FTAI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$19.5</td>
<td>$17.4</td>
<td>$17.4</td>
<td>$140.00</td>
<td>$127.0K</td>
<td>0</td>
<td>73</td>
</tr>
<tr>
<td>FTAI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$3.2</td>
<td>$2.9</td>
<td>$2.91</td>
<td>$120.00</td>
<td>$87.1K</td>
<td>1.8K</td>
<td>2.5K</td>
</tr>
<tr>
<td>FTAI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$1.0</td>
<td>$0.4</td>
<td>$0.5</td>
<td>$95.00</td>
<td>$85.5K</td>
<td>596</td>
<td>1.7K</td>
</tr>
<tr>
<td>FTAI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$2.95</td>
<td>$2.8</td>
<td>$2.95</td>
<td>$120.00</td>
<td>$79.9K</td>
<td>1.8K</td>
<td>2.7K</td>
</tr>
</tbody>
</table>

<h3>About FTAI Aviation</h3>
FTAI Aviation Ltd is a aerospace company .It owns and maintains commercial jet engines with a focus on CFM56 engines. FTAI owns and leases jet aircraft which often facilitates the acquisition of engines at attractive prices. It invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation.
In light of the recent options history for FTAI Aviation, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of FTAI Aviation</h3>
<ul>
<li>With a trading volume of 1,649,633, the price of FTAI is up by 3.99%, reaching $112.14.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 91 days from now.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for FTAI Aviation with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

FTAI

This Is What Whales Are Betting On FTAI Aviation

WELL Health founder & CEO Hamed Shahbazi appointed chairman of Healwell AI

Healwell AI Inc. reports FY results

Healwell AI GAAP EPS of -$0.06, revenue of $4.58M

HWAIF

WHTCF

Press Releases

Artificial Intelligence Enabled Technologies Transforming Healthcare Industry Creating Multi-Billion Dollar Opportunities

Health Care

HEALWELL AI Participates in Leading-Edge Research on Chronic Kidney Disease Highlighting the Potential of its AI Powered Clinical Co-Pilot

HEALWELL AI's Pentavere Partners with Sunnybrook and Successfully Demonstrates its AI Powered Clinician Co-pilot System Can Improve Cancer Staging in Prestigious Peer-Reviewed Medical Journal

Management

HEALWELL AI Appoints Anthony Lam as New Chief Financial Officer

HEALWELL AI's Pentavere Announces Partnership with Takeda to Support Rare Disease Real-World Evidence Analysis for Patients living with Hereditary Angioedema

HEALWELL AI to Acquire VeroSource Solutions and its Cloud-based Health Data Interoperability Platform to Help Large Enterprises Adopt AI-Powered Population Health Capabilities

WELL Health Announces Approval for Historic $44M Project, the Largest DIGITAL Project Ever Awarded to Advance AI-powered Tech Enablement for Care Providers

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Healwell AI

News

Latest news for Healwell AI (OTC:HWAIF) Stock