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Starbucks, Nike And 2 Other Stocks Insiders Are Selling
The Nasdaq 100 closed higher by around 2.5% during Thursday's session. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision. Below is a look at a few recent notable insider sales. For more, check out Benzinga’s insider transactions platform. Starbucks The Trade: Starbucks Corporation (NASDAQ:SBUX) Interim CEO and EVP, CFO...
These Analysts Increase Their Forecasts On Applied Materials Following Strong Earnings
Applied Materials, Inc. (NASDAQ:AMAT) reported better-than-expected results for its third quarter on Thursday. Applied Materials reported third-quarter revenue of $6.78 billion, beating the consensus estimate of $6.673 billion. The chip equipment company reported adjusted earnings of $2.12 per share, beating analyst estimates of 2.02 per share. "Applied Materials is delivering strong results in 2024 with record revenues in our fiscal third quarter and earnings towards the high end of our guided range," said Gary Dickerson, president and CEO of Applied Materials. "The race for AI leadership is fueling demand for our unique and connected portfolio of products and services, positioning Applied to...
Tencent-Backed Epic Games Brings Fortnite Back On The iPhone, This Time With An Entire App Store After Its 4-Year-Long Battle With Apple
Tencent-backed Epic Games has brought back the popular game Fortnite on the iPhone, along with an entire app store, which is now available for download in the European Union and Android devices globally. This comes after a four-year-long legal battle with Apple Inc. (NASDAQ:AAPL), marking a win for the game studio, with EU’s Digital Markets Act forcing Apple’s hand. What Happened: Epic Games announced on Friday the plans to allow all developers to launch their games and apps through the Epic Games Store in the future. The games will also be available on independent mobile stores, including AltStore PAL. Amid the launch,...
These Analysts Boost Their Forecasts On Walmart After Upbeat Earnings
Walmart Inc (NYSE:WMT) announced strong second-quarter results and raised full-year guidance on Thursday. The retailer reported adjusted EPS of 67 cents (+9.8% Y/Y), beating the consensus of 64 cents. Sales were $169.34 billion, up 4.8% year over year or 5.0% (at constant currency), beating the consensus of $168.57 billion. Walmart expects third-quarter adjusted EPS of $0.51 to $0.52 versus a consensus of $0.55, and its sales outlook is $164.58 billion-$166.17 billion vs. $167.11 billion estimate. For FY25, the big box retailer raised its adjusted EPS outlook to $2.35-$2.43 (from $2.23-$2.37), vs. the consensus of $2.43. Walmart boosted FY25 net sales (at constant currency)...
EXCLUSIVE: La Rosa's Q2 Revenue Jumps 154%, Expects $100M Annualized Revenue by 2024
On Friday, La Rosa Holdings Corp (NASDAQ: LRHC) provided a business update and reported financial results for the second quarter ended June 30, 2024. Total revenue increased 154% year-over-year to $19.1 million for the second quarter ended June 30, 2024. Residential real estate services revenue increased 237% to $15.9 million. Property management revenue increased by 16% to $2.8 million. Also Read: EXCLUSIVE: La Rosa Reports 15% Growth in Q2 Transaction Volume Total revenue increased 138% year-over-year to $32.1 million for the six months ended June 30, 2024. Residential real estate services revenue increased 226% to $26.1 million. Property management revenue increased by 14% to $5.3 million. M&A...
Why Is Texas Instruments Stock Rising Today?
Texas Instruments Incorporated (NASDAQ:TXN) shares are trading higher on Friday. The company is set to receive up to $1.6 billion in direct funding from the U.S. Department of Commerce through the CHIPS and Science Act. This investment will support the construction of three 300mm semiconductor wafer fabs in Texas and Utah. Texas Instruments anticipates receiving between $6 billion and $8 billion from the U.S. Department of Treasury’s Investment Tax Credit, aimed at supporting qualified U.S. manufacturing investments. The company also anticipates receiving $10 million in proposed funding for workforce development. The proposed direct funding would support Texas Instruments’ investment of over $18 billion through 2029,...
Top 3 Health Care Stocks That Are Set To Fly This Quarter
The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here's the latest list of major oversold players in this sector, having an RSI near or below 30. Haemonetics Corporation...
Homebuilding Stocks On Investors' Radar After Kamala Harris Reveals Plan To Boost Housing Market
Vice President Kamala Harris’ campaign disclosed policy proposals regarding the residential housing market ahead of the Democratic Party candidate’s unveiling of her economic policy at an event in the key swing state of North Carolina. Harris will launch a four-year plan to bring down housing costs for working families and also alleviate housing shortages. Among the policy proposals are: Construction of three million new housing units to plug in the shortage in housing supply in the first four years. Expanding the existing tax incentives for builders to build affordable rental housing. Offering first-ever tax incentives for building starter homes. Setting up a new federal...
Alibaba To Rally Around 11%? Here Are 10 Top Analyst Forecasts For Friday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Piper Sandler raised the price target for Globant S.A. (NYSE:GLOB) from $238 to $240. Piper Sandler analyst Arvind Ramnani reiterated an Overweight rating. Globant shares gained 1.7% to close at $194.37 on Thursday. See how other analysts view this stock. Daiwa Capital increased the price target for Illumina, Inc. (NASDAQ:ILMN) from $120 to $154. Daiwa Capital analyst Narumi Nakagiri upgraded the stock from Neutral to Buy. Illumina shares gained 5.3% to close...
South Korean Pension Fund Invests Heavily In MicroStrategy And Coinbase
South Korea's National Pension Service (NPS) has made a substantial investment in MicroStrategy (NASDAQ:MSTR) during the second quarter of this year. What Happened: The pension fund, one of the largest in the world, has acquired shares worth nearly $34 million, as revealed in a recent filing. NPS disclosed that it purchased 24,500 shares of MicroStrategy at an average price of $1,377.48 per share. This investment was made just before MicroStrategy implemented a 10-for-1 stock split earlier this month, which increased the total number of shares held by NPS to 245,000. Based on the company's latest closing price of $131.93, this investment is now...
Singapore's PropertyGuru Agrees To Be Taken Private By EQT AB In $1.1B Deal: Details
PropertyGuru Group Limited (NYSE:PGRU) shares are trading higher after the company announced a merger agreement with affiliates of BPEA Private Equity Fund VIII Limited, part of EQT AB, in an all-cash transaction valued at about $1.1 billion. Under the terms, each PropertyGuru ordinary share will be canceled and converted into a cash payment of $6.70 per share, excluding certain shares, with no interest. The merger values PropertyGuru at a 52% premium over its May 21, 2024 closing price, the last unaffected trading day before media speculation regarding a potential transaction. Major shareholders TPG and KKR & Co. Inc. (NYSE:KKR), which hold a combined 56% ownership of...
FlexShopper And 2 Other Stocks Under $3 Insiders Are Buying
The Dow Jones index closed higher by over 550 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision. Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform. One Stop Systems The Trade: One Stop Systems, Inc. (NASDAQ:OSS) Director Joseph M.. Manko Jr bought a total of 75,000 shares at an average price of $1.96. To acquire these shares, it cost...
Coherent Analysts Increase Their Forecasts After Upbeat Earnings
Coherent Corp. (NYSE:COHR) reported upbeat earnings for its fourth quarter on Thursday. Coherent reported quarterly earnings of 61 cents per share which beat the analyst consensus estimate of 60 cents per share. The company reported quarterly sales of $1.314 billion which beat the analyst consensus estimate of $1.276 billion. Jim Anderson, CEO, said, “After meeting with many of our employees and customers, I am more excited today about Coherent’s potential than when I joined two months ago. Coherent is a deeply innovative company with many secular growth opportunities. While we have many strengths, we also have opportunity for improvement, and I look...
Former Warner Music Boss Edgar Bronfman Jr Reportedly Sets Sights On Paramount Global And National Amusements
In a new development in the media merger landscape, media tycoon Edgar Bronfman Jr. is reportedly gearing up to bid for Paramount Global (NASDAQ:PARA) (NASDAQ:PARAA) and National Amusements. What Happened: Bronfman, the former head of Warner Music and Seagram, is reportedly in discussions with various individuals and companies, including Fortress Investment Group, streaming device maker Roku Inc. (NASDAQ:ROKU), and Hollywood producer Steven Paul, to support his bid, according to The Wall Street Journal’s unnamed sources. The bid could be submitted in the coming days, but talks are ongoing and may not culminate in a formal bid, the report said on Thursday. This move...
NBA Legend Shaq Missed His Tesla Cybertruck So Much, Instead Of Shipping It From Vegas To Atlanta, He Reportedly Ordered One More
NBA legend Shaquille O’Neal, also known as Shaq, has reportedly decided to purchase another Tesla Inc. Cybertruck instead of shipping his current one from Las Vegas to Atlanta. What Happened: According to a post shared by Tesla influencer Sawyer Merritt on X, O’Neal expressed his reluctance to ship his existing Cybertruck. Instead, he ordered another. Shaq stated, "I’m missing my Cybertruck, but I don’t want to ship it from Vegas to Atlanta, so imma just go ahead and buy another one." Shaq’s love for the Cybertruck is evident, as he opts to purchase a second vehicle rather than deal with the hassle of...
Dogecoin, Shiba Inu Fall As Ethereum Co-founder Vitalik Buterin Donates Over $500K Worth Of Memecoins To Animal Charity
Vitalik Buterin, the co-founder of Ethereum (CRYPTO: ETH), has donated over half a million dollars to a charity that looks after the welfare of animals. What Happened: In an X post on Thursday, Buterin revealed sending 200 Ether, worth $524,320, to Effective Altruism Fund's Animal Welfare Fund. This stash was obtained after selling all the “animal coins” that were sent to his wallets over the past year. His reference was most likely to Ethereum-based memecoins, which are themed on dogs, cats, and even frogs. Over the years, billions of dollars worth of memecoins have landed in Buterin’s wallet against his wishes, possibly in...
Japan's Nikkei Boosts Asia Markets, Europe Opens Mixed; Crude Oil Falls 2% While Gold Stays Near Record High - Global Markets Today While US Slept
On Thursday, August 15, U.S. stock markets closed higher, with the Nasdaq leading the gains after July retail sales data showed strong consumer spending, easing concerns about a possible recession in the U.S. economy. According to the economic data, U.S. retail sales increased by 1% in July compared to a revised 0.2% drop in June, surpassing market expectations of a 0.3% rise. Initial jobless claims in the U.S. fell by 7,000 to 227,000 for the week ending August 10, better than the anticipated 235,000. The NY Empire State Manufacturing Index improved to -4.7 in August, marking its highest level in six...
Why Greenland Technologies Shares Are Trading Higher By Around 40%; Here Are 20 Stocks Moving Premarket
Shares of Greenland Technologies Holding Corporation (NASDAQ:GTEC) rose sharply in today's pre-market trading after the company reported better-than-expected second-quarter EPS results. Greenland Technologies reported quarterly earnings of 34 cents per share which beat the analyst consensus estimate of 4 cents per share. The company reported quarterly sales of $23.017 million which missed the analyst consensus estimate of $27.000 million. Greenland Technologies shares jumped 40.2% to $2.25 in pre-market trading. Here are some other stocks moving in pre-market trading. Gainers Cingulate Inc. (NASDAQ:CING) rose 81.3% to $8.70 in today's pre-market trading. Cingulate shares jumped 159% on Thursday after the company was granted European patent No. 3261625...
US Business Leaders Still Favor Trump For 2024 Despite Harris' Poll Lead, C-Suite Advisor Reveals: 'A Lot Of Denial Going On...'
In the face of Vice President Kamala Harris‘ growing popularity in the polls, U.S. business leaders are still placing their bets on a Donald Trump victory in the 2024 presidential race, as per a leading C-suite advisor. What Happened: Tina Fordham, the founder of strategic advisory firm Fordham Global Foresight, told CNBC on Thursday that her clientele, comprising institutional investors, board members, and C-suite executives, continue to perceive Trump as the more business-friendly candidate and their preferred choice. “They still prefer a Trump presidency and they still think it’s going to happen,” Fordham stated. Despite Harris leading Trump by 2.6 points in the...
Stellantis Under Fire: Shareholders Reportedly Sue Company For Inflated Stock Price Claims
Shareholders in the United States have reportedly sued Stellantis N.V. (NYSE:STLA), accusing the automaker of fraud by hiding rising inventories and other weaknesses, leading to disappointing earnings and a subsequent drop in its stock price. The lawsuit, filed Thursday in Manhattan federal court, alleges that Stellantis artificially boosted its stock price throughout much of 2024 by offering “overwhelmingly positive” statements about inventories, pricing power, new products, and operating margins, reported Reuters. The lawsuit, filed on Thursday, seeks unspecified damages for Stellantis shareholders from February 15 to July 24, 2024. Chief Executive Carlos Tavares and Chief Financial Officer Natalie Knight are also named as...
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