NVDA
NVIDIA
-- 144.470 TSLA
Tesla
-- 410.440 PLTR
Palantir
-- 79.890 AMD
Advanced Micro Devices
-- 125.370 CRNC
Cerence
-- 19.330 Options Market Statistics: Pinterest Shares Surge Nearly 20% After Strong Q3 Results, Options Pop
News Highlights
$Tesla (TSLA.US)$ shares rose by 1.76%, closing at $200.84. Its options trading volume is 1.63 million. Call contracts account for 49.5% of the whole trading volume.
Awaiting the Fed's decision, the US stock market continued to rise, but the $Dow Jones Industrial Average (.DJI.US)$ and $S&P 500 Index (.SPX.US)$ fell for the first time for three months after the outbreak of the epidemic in Europe and the US in March 2020. Tesla fell nearly 20% during the month, leading major technology stocks and dragging down automakers and supply chains.
$JetBlue Airways (JBLU.US)$ shares fell by 10.48%, closing at $3.76. Its options trading volume is 0.29 million. Call contracts account for 64.1% of the whole trading volume.
JetBlue Airways Corporation's stock fell to a new 10-year-low Tuesday following the company's disappointing earnings report.
On top of missing analysts' expectations, the company is preparing to go to court over its acquisition of $Spirit Airlines (SAVE.US)$.
The U.S. Department of Justice intervened earlier this year, suing JetBlue to prevent consolidation in the industry. If the JetBlue, Spirit merger is allowed to go through, it would make JetBlue just the fifth largest airline company in the U.S.
$Pinterest (PINS.US)$ shares rose by 19.04%, closing at $29.88. Its options trading volume is 0.25 million. Call contracts account for 54.9% of the whole trading volume.
Pinterest spiked nearly 20% higher Tuesday on a series of analyst upgrades that followed the company reporting strong third-quarter earnings.
Here is what some analysts wrote about PINS following earnings:
BofA Securities
Analyst Justin Post upgraded the stock's rating from "Neutral" to "Buy" while raising his price target from $32 to $37.
He wrote that Pinterest's position vs. its peers has significantly improved, as every quarter it shifts from underperformance towards outperformance, which is expected in the fourth quarter.
The company has "better expense discipline than expected with potential for further margin/EBITDA upside, we are above Street for EBITDA," the analyst wrote. "Renewed confidence in new mgmt team given recent product execution and direct response (DR) disclosures."
KeyBanc Capital Markets
Analyst Justin Patterson maintained an "Overweight" rating while raising the price target from $35 to $37.
She noted that Pinterest reported third-quarter revenues, EBITDA and MAUs (monthly active users) that were all higher than the Street's expectations.
The company's results "reinforce that growth is reaccelerating while expense controls remain intact, resulting in a ~600 bps inflection in 2023E EBITDA margin," the analyst stated. "We anticipate an annual margin expansion cadence of 200-300 bps y/ y in 2024 and 2025, reflecting mid-teens growth from product innovation and partnerships."
Roth Capital Partners
Analyst Rohit Kulkarni reiterated a "Neutral" rating while lifting the price target from $29 to $31.
Pinterest's quarterly results were "solid" and the beat was bigger than the late-September pre-announcement, Kulkarni said.
Surprisingly, the 4Q guide doesn't include any Oct. softness," unlike peers $Meta Platforms (META.US)$ and $Snap Inc (SNAP.US)$, the analyst said. "We see partnerships and new direct-response ad products as next-six-month revenue catalysts," he added.
Unusual Stock Options Activity
Some notable call activity is being seen in $JetBlue Airways (JBLU.US)$, which is primarily being driven by activity on the January 19th 2024 4.00 call. Volume on this contract is 42,989 versus open interest of 526.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
Disclaimer: Options trading entails significant risk and is not appropriate for all investors. Certain complex option strategy carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Option. This article is for information and illustrative purposes only, and is not a promotion of option trading or a recommendation of any of the specific option mentioned above.
Source: Benzinga, WSJ
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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