RBC Capital analyst Mitch Steves initiated AMD (AMD) with an Outperform rating and a price target of $40, citing the positives of "solid" market share gains, continued demand for gaming chips, and a "notable" operating margin leverage. The analyst expects a "material" margin expansion coming from leverage, noting that even under a base case, his FY19 earnings estimate is 10% ahead of consensus. Steves also notes that he expects AMD's server market share to grow toward 20%, while its gaming presence increases demand for high-end GPUs. The analyst contends that AMD stock price will remain volatile, but also notes that shares are trading at a "notable discount" to Nvidia (NVDA).

Wednesday's total option volume of 42.3 million contracts resulted in net open interest growth of 4.78 million calls and 3.88 million puts. Tesla (TSLA), Meta Platforms (Facebook) (META), Ford (F) and NVIDIA (NVDA) saw the greatest growth. Top five new positions opened include 42k Tesla (TSLA) Aug-24 185 calls, 35k Taiwan Semi (TSM) Aug-24 110 calls, 30k Capri Holdings (CPRI) May-24 35 calls, 29k Ford (F) 4/26 weekly 13.5 calls and 26k Tesla (TSLA) 5/3 weekly 75 puts.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Microsoft (MSFT) is scheduled to report results of the third quarter of its fiscal year 2024 after the market close on Thursday, April 25, with a conference call scheduled for 5:30 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here