Latest news for Mandarake Stock (OTC:MDRKF)

Mandarake Inc is a Japan-based company engaged in the purchase and sale of Japanese cartoon-related secondhand books, goods, and animation-related products. It provides mail-order sale of comics, magazines, DVDs, games, and costume along with an auction of books, toys, celluloid pictures, animations, and acting scripts.

Mandarake Inc

Wells Fargo analyst Tiago Fauth maintains United Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UTHR#NASDAQ">UTHR</a>) with a Overweight and raises the price target from $325 to $350.

News

Price Target

Analyst Ratings

UTHR

Wells Fargo Maintains Overweight on United Therapeutics, Raises Price Target to $350

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Palatin Techs (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/PTN#AMEX">PTN</a>) with a Buy and maintains $17 price target.

Reiteration

HC Wainwright & Co. Reiterates Buy on Palatin Techs, Maintains $17 Price Target

WIIM

AGBA

AGBA Group Holding shares are trading higher after the company said it filed its preliminary proxy statement for its shareholder meeting to approve its merger with Triller.

AGBA Files Preliminary Proxy Statement For Shareholder Meeting To Approve $4B Merger With Triller

Small Cap Consumer Research analyst Eric Beder reiterates Lands' End (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LE#NASDAQ">LE</a>) with a Buy and maintains $17 price target.

Small Cap Consumer Research Reiterates Buy on Lands' End, Maintains $17 Price Target

Korn Ferry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFY#NYSE">KFY</a>) is set to release fourth-quarter financial results, before the <a href="https://www.benzinga.com/quote/kfy/earnings">opening bell on Thursday</a>.
Analysts expect the Los Angeles, California-based company to report quarterly earnings at $1.12 per share, up from $1.01 per share in the year-ago period. Korn Ferry is expected to post revenue of $689.92 million, compared to $730.87 million a year ago, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 6, Korn Ferry reported a third-quarter fiscal 2024 total revenue decline of 1.5% year-over-year to $676.87 million, beating the consensus of $657.96 million.
Korn Ferry shares rose 0.7% to close at $62.92 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/KFY/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>UBS analyst Joshua Chan maintained a Neutral rating and raised the price target from $66 to $68 on June 7. This analyst has an accuracy rate of 65%.</li>
<li>Baird analyst Mark Marcon maintained an Outperform rating and boosted the price target from $70 to $72 on March 8. This analyst has an accuracy rate of 70%.</li>
<li>Truist Securities analyst Tobey Sommer maintained a Buy rating on March 4. This analyst has an accuracy rate of 75%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/06/39269583/top-4-health-care-stocks-that-may-keep-you-up-at-night-this-month">Top 4 Health Care Stocks That May Keep You Up At Night This Month</a>

Earnings

Markets

Trading Ideas

Top Wall Street Forecasters Revamp Korn Ferry Expectations Ahead Of Q4 Earnings

Brussels' decision to impose tariffs on Chinese electric vehicles will impact companies such as BYD Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) and SAIC, as well as Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), which manufactures in China.
Starting next month, the European Commission plans to apply provisional duties of up to 25% on imported Chinese EVs, aiming to counteract the subsidies Chinese manufacturers receive from their government.
This measure could escalate to about 35%, significantly lower than the 100% duties applied by the U.S., the Financial Times <a target="_blank" href="https://www.ft.com/content/0545ed62-c4b9-4e8a-80fa-c9f808e18385" rel="noreferrer noopener">reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39142524/whats-going-on-with-chinese-ev-stocks-nio-xpeng-li-auto-monday" rel="noreferrer noopener">Nio, XPeng, and Li Auto Surge in Sales with Aggressive Discounts Amidst Market Pressures</a>
Chinese EV companies, including NIO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) and Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), traded lower on Wednesday following the report. XPeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) stock price did not react.
The tariffs, championed by France and Spain, are projected to generate over $2.15 billion (2 billion euros) annually for the EU budget as Chinese EV sales in Europe grow.
In 2023, China exported $10.76 billion (10 billion euros) worth of electric cars to the EU, FT noted.
The Kiel Institute, an economic think tank, suggests that an extra 20% tariff could cut Chinese electric car imports by a quarter, reducing about 125,000 units from the 500,000 vehicles imported in 2023.
2023 Germany alone exported 216,299 cars to China, experiencing a 15% drop from the previous year.
Volvo Car AB (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLVCY#OTC">VLVCY</a>) <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39253633/volvo-car-shifts-ev-production-to-belgium-from-china-as-eu-tariff-threat-looms-report" rel="noreferrer noopener">recently migrated EV production</a> to Belgium to dodge the EU tariffs.
<a target="_blank" href="https://www.benzinga.com/news/24/03/37744641/mercedes-benz-ceo-calls-for-lower-eu-tariffs-on-chinese-evs-amid-commission-probe-let-competition-pl" rel="noreferrer noopener">Earlier in May</a>, Mercedes-Benz CEO Ola Källenius urged the EU to reduce tariffs on EVs imported from China.
China is Tesla's biggest market after the U.S. and accounted for 33% of global sales in 2023, CNN <a target="_blank" href="https://edition.cnn.com/2024/04/03/cars/china-tesla-byd-competition-hnk-intl-dg/index.html#:~:text=China%20is%20Tesla's%20biggest%20market,export%20hub%2C%20delivered%20947%2C000%20cars." rel="noreferrer noopener">cited</a> Rho Motion.
Price Actions: NIO shares traded lower by 3.14% at $4.32 premarket at the last check on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photos via Shutterstock

Asia

Government

Regulations

Media

BYDDF

TSLA

VLVCY

XPEV

What's Going On With Chinese EV Stocks Nio, Li Auto, XPeng On Wednesday?

Two analysts have weighed in on apprehensions regarding Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk&#8217;s continued involvement with the company in the eventuality of shareholders voting against approving his <a href="https://www.benzinga.com/news/24/06/39139192/tesla-argues-new-pay-plan-for-musk-would-cost-more-report">2018 compensation package </a>at Thursday&#8217;s annual meeting.
Musk&#8217;s Piggy Bank: Musk has &#8220;long ago mentally checked out of Tesla,&#8221; said bearish analyst Gordon Johnson in an interview with CNBC. &#8220;But he&#8217;s not gonna leave no matter whether this vote passes or not.&#8221;
The analyst said Musk would continue to do what he has been doing for years. 
&#8220;He is going to continue to use Tesla to milk money out of and support his other businesses,&#8221; Johnson said.
To make his point, Johnson noted that media reports said millions of dollars worth of Nvidia chips Tesla ordered were diverted to xAI, which Musk set up in 2023. The Boring Company, another Musk venture, is digging a tunnel under Tesla&#8217;s Gigafactory, which the EV maker is paying for, he added.
&#8220;He uses Tesla as a piggy bank,&#8221; Johnson. The analyst also said the billionaire wants to focus on growth companies and Tesla is no longer a growth company.
See Also:<a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock"> Everything You Need to Know About Tesla Stock</a>
Musk&#8217;s Voting Control Obsession: JPMorgan analysts offered some clarity on the drive behind Musk&#8217;s demand for 25% voting control in a new note to clients, a Tesla influencer <a href="https://x.com/SawyerMerritt/status/1800540406200864840">said, </a>sharing snippets of the note on his X handle.
Citing comments of Tesla&#8217;s new Investor Relations head Travis Axelrod, the analyst said there has been some misunderstanding regarding Musk&#8217;s desire to acquire 25% voting control. The desire is motivated primarily by the &#8220;wish to protect humanity from the potentially negative implications of imprudent or improper use of Al technology,&#8221; Axelrod reportedly told the JPM analysts. 
&#8220;Mr. Musk is focused on having a strong enough voice at the company (via control of a sufficient number of voting shares) such that he could ensure a proper governance structure around the use of Al, given the not unreasonable assumption that Al could surpass human-level intelligence in the next several years,&#8221; he added.
Robotaxi Opportunity Long-drawn? Separately a Bloomberg report <a href="https://www.bloomberg.com/news/articles/2024-06-11/tesla-robotaxi-revenue-is-likely-years-away-jpmorgan-warns">said, </a>citing JPMorgan analysts, that the robotaxi opportunity is years away from fructifying. <a href="https://www.benzinga.com/news/24/04/38511333/tesla-ceo-elon-musk-reveals-sentimental-reason-behind-88-robotaxi-unveil-lucky-number-in-china-birth">On Aug. 8 at the robotaxi unveil event, </a>the company will likely show merely a concept, and potentially an accompanying app and the business model, the analysts said. 
&#8220;But we do not expect material revenue generation likely for years to come,&#8221; they said, citing the IR head.
In premarket trading on Wednesday, Tesla edged down 0.17% to $170.37, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39285060/all-the-tesla-ceos-men-and-women-elon-musks-inner-circle-lobbies-hard-for-his-pay-p">All The Tesla CEO&#8217;s Men (And Women): Elon Musk&#8217;s Inner Circle Lobbies Hard For His Pay Plan Ahead Of Crucial Board Meet</a>
Image via photos on Shutterstock

Equities

Tesla Bear Says Elon Musk Has 'Mentally Checked Out' Of EV Giant Long Ago, But Will Stay Back For This Reason

Susquehanna analyst Bascome Majors maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Positive and lowers the price target from $160 to $145.

Susquehanna Maintains Positive on XPO, Lowers Price Target to $145

Protiviti Launches ProtivitiGPT, A Generative AI Application For Internal Use, Enhancing Business Solutions Development

The Nasdaq 100 closed higher by more than 100 points on Tuesday. 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 <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">General Motors</h3>
<ul>
<li>The Trade: General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) President Mark L Reuss <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 50,000 shares</a> at an average price of $46.24. The insider received around $2.3 million from selling those shares.</li>
<li>What's Happening: In a press release, the company said it approved a new share repurchase authorization to repurchase up to $6 billion of its outstanding common stock.</li>
<li>What General Motors Does: General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">SkyWest</h3>
<ul>
<li>The Trade: SkyWest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) Director James L Welch <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 7,605 shares</a> at an average price of $78.68. The insider received around $598,361 from selling those shares.</li>
<li>What's Happening: On June 4, TD Cowen analyst Helane Becker maintained SkyWest with a Buy and raised the price target from $85 to $95.</li>
<li>What SkyWest Does: SkyWest Inc offers commercial air services in the United States, Canada, Mexico, and the Caribbean.</li>
</ul>
<h3 class="wp-block-heading">Toll Brothers</h3>
<ul>
<li>The Trade: Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) CFO Martin P. Connor <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 16,194 shares</a> at an average price of $ $118.74. The insider received around $1.92 million from selling those shares.</li>
<li>What's Happening: On June 6, Argus Research analyst Chris Graja maintained Toll Brothers with a Buy and raised the price target from $135 to $140.</li>
<li>What Toll Brothers Does: Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors.</li>
</ul>
<h3 class="wp-block-heading">Paycom Software</h3>
<ul>
<li>The Trade: Paycom Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>) Director, CEO, President and Chairman Chad R. Richison s<a href="https://www.benzinga.com/sec/insider-trades/">old a total of 3,900 shares</a> at an average price of $144.42. The insider received around $563,250 from selling those shares.</li>
<li>What's Happening: On May 31, Paycom Software announced significant leadership changes. Randy Peck, a 20-year Paycom veteran, has been appointed as the new Chief Operating Officer (COO). Concurrently, Matt Paque has been promoted to Chief Legal Officer (CLO).</li>
<li>What Paycom Software Does: Paycom is a fast-growing provider of payroll and human capital management software primarily targeting clients with 50-10,000 employees in the United States.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/06/39269583/top-4-health-care-stocks-that-may-keep-you-up-at-night-this-month">Top 4 Health Care Stocks That May Keep You Up At Night This Month</a>

Short Ideas

Insider Trades

Pre-Market Outlook

PAYC

SKYW

General Motors, Toll Brothers And 2 Other Stocks Insiders Are Selling

Susquehanna analyst Bascome Majors maintains Saia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) with a Positive and lowers the price target from $610 to $550.

SAIA

Susquehanna Maintains Positive on Saia, Lowers Price Target to $550

Economics

China Central Bank Says It Will Improve Macro-prudential Management Of Real Estate Finance, Promote Acceleration Of Construction Of New Model For Property Development

U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 0.1% on Wednesday.
Shares of Mama&#8217;s Creations Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAMA#NASDAQ">MAMA</a>) fell in today's pre-market trading following <a href="https://www.benzinga.com/quote/MAMA/earnings">first-quarter results</a>.
Mama's Creations posted downbeat earnings for its first quarter, while sales topped estimates.
Mama&#8217;s Creations shares declined 3% to $6.97 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>U-BX Technology Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBXG#NASDAQ">UBXG</a>) shares dipped 15.4% to $9.83 in pre-market trading after jumping 21% on Tuesday.</li>
<li>Ferrovial SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FER#NASDAQ">FER</a>) shares declined 5.8% to $38.99 in pre-market trading after gaining 5% on Tuesday.</li>
<li>Theravance Biopharma Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBPH#NASDAQ">TBPH</a>) shares fell 5.8% to $8.31 in pre-market trading.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) shares declined 5.5% to $10.02 in pre-market trading. The company recently announced results from its Phase 2 Huntington's Disease clinical study.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares fell 5.4% to $28.83 in pre-market trading after surging around 23% on Tuesday. GameStop announced completion of previously disclosed &#8220;at-the-market&#8221; equity offering program.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares fell 3.7% to $9.51 in pre-market trading after gaining 16% on Tuesday.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares fell 3.4% to $4.31 in pre-market trading after declining over 5% on Tuesday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/06/39285495/oracle-broadcom-and-other-3-key-stocks-to-watch-on-wednesday">Oracle, Broadcom And Other 3 Key Stocks To Watch On Wednesday</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Movers

ASTS

MAMA

SAGE

TBPH

UBXG

Mama's Creations, GameStop And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Casey&#8217;s General Stores, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) shares are trading higher after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39280152/caseys-announces-fourth-quarter-and-fiscal-year-results" rel="noreferrer noopener">fourth quarter and FY24 results</a>.
Sales&nbsp;of $3.60 billion&nbsp;exceeded the street view of&nbsp;$3.48 billion. EPS&nbsp;of $2.34&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the consensus of&nbsp;$1.72</a>.
Inside same-store sales rose 5.6% and 12.4% over a two-year period, with an inside margin of 41.2%, aided by strong performance in hot sandwiches and dispensed beverages within the prepared food and dispensed beverage category, alongside non-alcoholic and alcoholic beverages in the grocery and general merchandise category.
The company&#8217;s inside gross profit increased by 16.2% Y/Y to $517.6 million. Fuel same-store gallons grew 0.9% Y/Y, with a fuel margin of 36.5 cents per gallon. Total fuel gross profit increased by 15.4% Y/Y to $253.6 million in the quarter.
As of April-end, the company had around $1.1 billion in available liquidity, consisting of about $206 million in cash and cash equivalents on hand and $900 million in undrawn borrowing capacity on existing lines of credit.
During the quarter, Casey&#8217;s General Stores repurchased approximately $15 million worth of shares for a total of $105 million for the year. The company has around $295 million remaining under its existing share repurchase authorization.
Dividend: The Board of Directors increased the quarterly dividend by 16% to $0.50 per share. The dividend will be payable on August 15 to shareholders of record on August 1.
FY25 Outlook: The company expects EBITDA to increase by at least 8%. The company anticipates a 3% to 5% increase in inside same-store sales, with an<a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener"> inside margin similar to that of fiscal 2024</a>.
Casey&#8217;s General Stores targets same-store fuel gallons sold between negative 1% and positive 1%.
The company plans to increase its store count by at least 100 in FY25 through a combination of mergers, acquisitions, and new store construction.
Darren Rebelez, President and CEO, said, &#8220;Casey&#8217;s started its three-year strategic plan with a record fiscal year, exceeding $1 billion in EBITDA for the first time in the company&#8217;s history.&#8221;
&#8220;Inside same-store sales were outstanding, up 4.4%, or 11.2% on a two-year stack basis, led by strong performance in pizza and bakery as well as alcoholic and non-alcoholic beverages.&#8221;
Casey&#8217;s&nbsp;also announced the appointment of Maria Castañón Moats to its Board of Directors, effective as of July 1, 2024, following her retirement <a target="_blank" href="https://www.benzinga.com//node/39280153" rel="noreferrer noopener">from PricewaterhouseCoopers, LLP.</a>
Investors can gain exposure to the stock via AdvisorShares Restaurant ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EATZ#NYSE">EATZ</a>) and Invesco Dorsey Wright Consumer Staples Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSL#NASDAQ">PSL</a>).
Price Action: CASY shares are up 5.95% at $345.96 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Large Cap

Guidance

CASY

EATZ

PowerShares Dynamicnsumer Staples Sector Portfolio

Why Casey's General Stores Shares Are Surging Premarket Wednesday

Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) committed $1.4 billion to its Housing Equity Fund, enhancing affordable housing in Seattle, Nashville, and Washington metro areas.
The funds will create 14,000 affordable units in these locations, raising Amazon&#8217;s total housing pledge to $3.6 billion, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-11/amazon-commits-1-4-billion-to-build-14-000-affordable-homes?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">cites</a> Amazon blog post on Tuesday.
In 2021, Amazon earmarked $2 billion for low-interest loans and grants, joining other tech companies in making housing more affordable, especially in expensive West Coast cities.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/05/39088449/amazon-boosts-prime-benefits-with-grubhub-partnership-takes-aim-at-walmart" rel="noreferrer noopener">Amazon Boosts Prime Benefits With Grubhub Partnership, Takes Aim At Walmart</a>
Critics had accused Amazon and other tech giants, including Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), of worsening regional housing shortages by bringing in highly paid engineers.
Amazon targets units for families earning 30% to 80% of each area&#8217;s median income, aiming to help those who don&#8217;t qualify for existing subsidies and can&#8217;t afford rising housing costs.
On a separate note, Amazon earmarked <a target="_blank" href="https://www.benzinga.com/markets/asia/24/06/39284404/amazon-to-invest-billions-in-taiwan-cloud-infrastructure-expanding-aws-presence-in-asia" rel="noreferrer noopener">billions of dollars</a> in Taiwan over the next 15 years to establish data centers to fulfill Asia&#8217;s increasing demand for cloud services.
Amazon proposes to launch an Amazon Web Services infrastructure region in Taiwan by 2025.
Analysts <a target="_blank" href="https://www.benzinga.com/news/24/04/38322252/amazon-analyst-predicts-lead-in-ai-revolution-with-strategic-cost-efficiency-and-tech-innovations" rel="noreferrer noopener">maintained their conviction</a> in Amazon&#8217;s generative AI moat, claiming the company to be one of the two to three winners of GenAI.
Amazon stock gained 48% in the last 12 months. Investors can gain exposure to the stock via Fidelity MSCI Consumer Discretionary Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>) and VanEck Retail ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTH#NASDAQ">RTH</a>).
Price Action:&nbsp;AMZN shares traded lower by 0.02% at $187.20 premarket at the last check on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Cascade Creatives on Shutterstock

Tech

AAPL

AMZN

FDIS

GOOG

GOOGL

MSFT

Merrill Lynch Retail HOLDRS Trust due 12/31/41

Amazon's $3.6B Pledge To Create 14K Affordable Homes in Key Metro Areas

Susquehanna analyst Bascome Majors maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Positive and lowers the price target from $245 to $210.

ODFL

Susquehanna Maintains Positive on Old Dominion Freight Line, Lowers Price Target to $210

Rubrik, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) reported a year-over-year increase in first-quarter sales results and issued second-quarter revenue <a href="https://www.benzinga.com/quote/RBRK/earnings">guidance above estimates</a>.
Rubrik reported a quarterly loss of $1.58 per share, versus a year-ago loss of $1.48 per share. The company reported $187.31 million in sales this quarter, up from $135.74 million in the year-ago period, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Kiran Choudary, Rubrik&#8217;s Chief Financial Officer, added, &#8220;We are pleased by the strong start to the year in Q1 with strength in large transactions driving net new Subscription ARR of $72 million, up 32% year over year and Subscription ARR Contribution Margin up over 2,100 basis points year over year. We are confident in our ability to deliver strong growth in Subscription ARR and continued operating leverage towards our long-term financial model.&#8221;
Rubrik said it sees second-quarter loss of 50 cents to 48 cents per share, versus market estimates of 50 cents per share. The company expects revenue of $195 million to $197 million versus estimates of $194.89 million.
Rubrik shares fell 1.4% to close at $35.26 on Tuesday.
These analysts made changes to their price targets on Rubrik after the company reported quarterly results.
<ul>
<li>Barclays increased the price target on Rubrik from $41 to $42. Barclays analyst Saket Kalia maintained an Overweight rating.</li>
<li>Keybanc raised Rubrik price target from $46 to $48. UB Keybanc analyst Eric Heath maintained an Overweight rating.</li>
</ul>
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Rubrik Analysts Increase Their Forecasts After Q1 Results

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