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The fund normally invests at least 80% of assets in securities included in the underlying index and in depository receipts representing securities included in the underlying index. The underlying index is designed to reflect the performance of stocks of large and mid-capitalization dividend-paying companies that are expected to continue to pay and grow their dividends and have a positive correlation of returns to increasing 10-year U.S. Treasury yields.

Microsoft Corp

NVIDIA Corporation

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Unitedhealth Group Inc

Dell Technologies Inc., Class C

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Visa Inc. Class A . . . . . . . . . . . . . . . . . .

News

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DIVB

FDRR

SBUX

Stock buybacks in the United States appear to be breaking new ground as firms prepare for quarterly earnings season, even as some investors are concerned about the mounting threat of inflation, a potential recession, and stagnant share prices, 

US Buybacks Reach New Highs Ahead Of Earnings: Reuters

Economics

VanEck Vectors Morningstar Durable Dividend ETF

DURA

U.S. companies are rushing to repurchase large volumes of shares to take advantage of recent stock market volatility and reassure investors as growth slows, reported Financial Times.

US Companies See Record Stock Buy Back In 2022 with $319B Authorized YTD: FT

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Fidelity Enhances Factor Lineup With International ETFs

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Another Rising Rates ETF On The Way

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First Trust Multi Cap Growth AlphaDEX Fund

PowerShares ETF Trust Dynamic Building &nstruction Portfolio

5 ETFs To Buy On 13-Year High Manufacturing Activity

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ProShares Trust EQUITIES FOR RISING RATES ETF

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Earnings

TIRX

TIAN RUIXIANG Holdings Reports FY23 EPS Of $(3.87) Vs $(9.03) Last Year; Revenue Decrease By 8.0% To $1.2M

Wells Fargo analyst Mike Mayo maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Overweight and raises the price target from $91 to $98.

Price Target

Analyst Ratings

Wells Fargo Maintains Overweight on State Street, Raises Price Target to $98

Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) shares are trading higher Wednesday. Capital One aims to acquire Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), which reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39826835/discover-reports-better-than-expected-q2-results-heres-the-details">second-quarter results after the bell.</a> 
The Details: Discover shares are trading higher after the company reported GAAP earnings of $6.06 per share, beating the estimate of $3.07 per share, and quarterly Net Interest Income (NII) of $3.524 billion.
Additionally, Capital One announced a <a href="https://www.benzinga.com/pressreleases/24/07/b39815404/capital-one-announces-five-year-265-billion-community-benefits-plan-in-connection-with-discover-ac">community benefits plan</a> Wednesday that commits more than $265 billion in lending, investment and philanthropy over five years as part of its <a href="https://www.benzinga.com/m-a/24/02/37204534/capital-one-set-to-acquire-discover-in-landmark-35-3b-deal">proposed acquisition</a> of Discover. 
Capital One said the plan is twice as large as any other community commitment developed in connection with a bank acquisition and demonstrates that the combination of Capital One and Discover will create an opportunity to provide more lending, investment, and services to underserved communities than the institutions would undertake on a stand-alone basis.
Read Next:<a href="https://www.benzinga.com/news/24/07/39796841/lucids-stock-drives-higher-on-2025-model-year-updates-whats-going-on"> Lucid&#8217;s Stock Drives Higher On 2025 Model Year Updates: What&#8217;s Going On?</a>
&#8220;Our commitments to financial inclusion and well-being are core to who we are as a company,&#8221; said Richard Fairbank, CEO of Capital One.&nbsp;
&#8220;That comes to life in our product portfolio, which serves the full spectrum of American consumers, and in the investments we make in our communities. We have a long history of developing innovative ways to serve these core constituencies, and we are committed to ensuring, through this community benefits plan, that our acquisition of Discover builds on our history of positive impact.&#8221;&nbsp;
COF Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Capital One shares are up 3.16% after-hours at $154.20 at the time of publication Wednesday.
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</ul>
Image: Shutterstock

After-Hours Center

Movers

Why Capital One Stock Is Climbing

Opko Health Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPK#NASDAQ">OPK</a>) shares are trading higher after-hours Wednesday. The company announced it entered into a $250 million non-dilutive note purchase <a href="https://www.benzinga.com/pressreleases/24/07/g39825467/opko-health-and-healthcare-royalty-enter-into-250-million-note-purchase-agreement-secured-by-ngenl">agreement with HealthCare Royalty (HCRx). </a>
The Details: Opko said the purchase agreement is secured by its profit share payments from Pfizer received pursuant to its license agreement relating to NGENLA, a once-weekly treatment to treat pediatric growth hormone deficiency. 
The $250 million note issued under the Note Purchase Agreement bears interest at the 3-month Secured Overnight Financing Rate (SOFR) subject to a 4% per annum floor, plus 7.5% per annum. The note has a final maturity date of July 2044 with the first four years requiring interest-only payments.
Read Next:<a href="https://www.benzinga.com/news/24/07/39796841/lucids-stock-drives-higher-on-2025-model-year-updates-whats-going-on"> Lucid&#8217;s Stock Drives Higher On 2025 Model Year Updates: What&#8217;s Going On?</a>
&#8220;This transaction with HCRx allows OPKO to retain a significant portion of NGENLA&#8217;s profit share payments in the near term and provides upside over the long term. It also permits OPKO to maintain the full benefit of the $100 million of remaining potential milestone payments from Pfizer,&#8221; said Phillip Frost, M.D., CEO of Opko.
&#8220;Additionally, it provides non-dilutive capital and financial flexibility to advance our research and development activities including our multispecific antibody programs, as well as potentially to repurchase shares of our common stock and convertible notes."
OPK Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Opko Health shares are up 7.07% after-hours at $1.52 at the time of publication Wednesday.
Read Also:
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</ul>
Image: Shutterstock

Health Care

Why Opko Health Shares Are Up After-Hours

Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) has outperformed the market over the past 20 years by 5.96% on an annualized basis producing an average annual return of 14.47%. Currently, Parker Hannifin has a market capitalization of $71.72 billion. 
Buying $100 In PH: If an investor had bought $100 of PH stock 20 years ago, it would be worth $1,497.16 today based on a price of $557.94 for PH at the time of writing.
<h3>Parker Hannifin's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721251823_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,500 Today

Cintas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) has outperformed the market over the past 15 years by 13.08% on an annualized basis producing an average annual return of 25.38%. Currently, Cintas has a market capitalization of $73.03 billion. 
Buying $100 In CTAS: If an investor had bought $100 of CTAS stock 15 years ago, it would be worth $3,060.29 today based on a price of $719.78 for CTAS at the time of writing.
<h3>Cintas's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721251818_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CTAS

Here's How Much $100 Invested In Cintas 15 Years Ago Would Be Worth Today

Scotiabank analyst Tristan Richardson maintains Williams Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>) with a Sector Perform and raises the price target from $40 to $43.

Scotiabank Maintains Sector Perform on Williams Companies, Raises Price Target to $43

Chuy&#8217;s Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHUY#NASDAQ">CHUY</a>) shares are popping in Wednesday&#8217;s after-hours session after the company and Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) jointly announced that Darden will <a href="https://www.benzinga.com/pressreleases/24/07/n39825112/darden-restaurants-to-acquire-chuys-holdings-inc-in-approximately-605-million-transaction">acquire Chuy&#8217;s Holdings</a>.
What Happened: Chuy&#8217;s Holdings and Darden&nbsp;entered into a definitive agreement in which Darden will acquire all of Chuy&#8217;s outstanding stock for&nbsp;$37.50&nbsp;per share in cash. The all-cash transaction has an enterprise value of approximately&nbsp;$605 million.&nbsp;
&#8220;Chuy&#8217;s is a differentiated brand within the full-service dining industry with strong performance and growth potential,&#8221; said Rick Cardenas, president&nbsp;and CEO of Darden. &#8220;Based on our criteria for adding a brand to the Darden portfolio, we believe Chuy&#8217;s is an excellent fit that supports our winning strategy.&#8221;
The transaction was unanimously approved by both boards and is expected to be completed in Darden&#8217;s fiscal second quarter. Darn expects the acquisition to be neutral to its net earnings per share for fiscal 2025.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39821442/netflix-q2-earnings-preview-can-ad-supported-growth-new-releases-sustain-investor-h">Netflix Q2 Earnings Preview: Can Ad-Supported Growth, New Releases Sustain Investor Hype?</a>
Chuy&#8217;s owns and operates full-service restaurants serving a distinct menu of authentic, made-from-scratch Tex-Mex-inspired dishes. The restaurant brand will join Darden&#8217;s existing lineup, which includes Olive Garden, LongHorn Steakhouse, Yard House, Ruth&#8217;s Chris Steak House, Cheddar&#8217;s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V&#8217;s and Bahama Breeze.
CHUY Price Action: <a href="https://www.benzinga.com/quote/CHUY">Chuy&#8217;s shares</a> were up 47.41% after hours at $37.25 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: <a href="https://www.flickr.com/photos/jdhancock/">JD Hancock</a> from Flickr.

Restaurants

CHUY

Chuy's Holdings Stock Soars On Darden Takeover Deal: What You Need To Know

Alaska Air's Operational Update: Says It Reached Tentative Agreement With Mainline Flight Attendants; Voting On The Agreement Is Expected To Conclude By Mid-August

Cannabis

Politics

MSOS

The Trump Card: How Would His Second Term Treat Cannabis?

Scotiabank analyst Tristan Richardson maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Sector Perform and raises the price target from $19 to $21.

Scotiabank Maintains Sector Perform on Kinder Morgan, Raises Price Target to $21

Scotiabank analyst Tristan Richardson maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Sector Outperform and raises the price target from $128 to $142.

TRGP

Scotiabank Maintains Sector Outperform on Targa Resources, Raises Price Target to $142

Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) reported quarterly earnings of $2.55 per share which beat the analyst consensus estimate of $2.39 by 6.69 percent. This is a 15 percent decrease over earnings of $3.00 per share from the same period last year. The company reported quarterly sales of $2.897 billion which missed the analyst consensus estimate of $2.945 billion by 1.62 percent. This is a 2.08 percent increase over sales of $2.838 billion the same period last year.

Earnings Beats

Earnings Misses

Alaska Air Q2 2024 Adj EPS $2.55 Beats $2.39 Estimate, Sales $2.897B Miss $2.945B Estimate

Scotiabank analyst Andres Coello maintains America Movil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMX#NYSE">AMX</a>) with a Sector Perform and lowers the price target from $19 to $18.9.

Scotiabank Maintains Sector Perform on America Movil, Lowers Price Target to $18.9

Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares closed slightly higher Wednesday amid a tumultuous trading day <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39823332/nasdaq-100-suffers-worst-day-in-11-months-as-chipmakers-tumble-on-china-curbs-magnificent-">for the semiconductor sector. </a>
<h1 class="wp-block-heading">What To Know</h1>
Semiconductor stocks moved lower Wednesday as investors digested a report about the expansion of export restrictions and ASML Holding NV&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) earnings release and forward guidance. 
ASML shares fell more than 12% on the session after the company reported <a href="https://www.benzinga.com/news/earnings/24/07/39808860/asml-beats-q2-earnings-expectations-with-strong-china-sales-ai-chip-demand">second-quarter numbers</a> that were lower than the same period in the previous year and guided quarterly gross margin in the range of 50% to 51% versus expectations of 51.1%.
Investors also mulled a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-17/us-considers-tougher-trade-rules-against-companies-in-chip-crackdown-on-china">report</a> that the Biden administration is considering imposing the most severe trade restrictions on China if companies continue giving the country access to advanced semiconductor technology.
Additionally, former President Donald Trump said Taiwan should pay the U.S. for its defense, casting more doubt on the stability of the region. 
&#8220;I know the people very well, respect them greatly. They did take about 100% of our chip business. I think, Taiwan should pay us for defense,&#8221; Trump said in the Bloomberg Businessweek interview, published Tuesday.
Read Next:<a href="https://www.benzinga.com/news/24/07/39796841/lucids-stock-drives-higher-on-2025-model-year-updates-whats-going-on"> Lucid&#8217;s Stock Drives Higher On 2025 Model Year Updates: What&#8217;s Going On?</a>
Investors may view Intel as a safer option, compared to peers including Taiwan Semiconductor Manufacturing Company, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which depend on Taiwan for manufacturing. Intel <a href="https://www.intel.com/content/www/us/en/corporate/usa-chipmaking/home.html">said it expects </a>to invest more than $100 billion in the U.S. to expand its manufacturing capacity and capabilities in Arizona, New Mexico, Oregon and Ohio with support from the CHIPS act. 
Intel is set to report its second-quarter results on Aug. 1 after the closing bell. According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report earnings of 10 cents per share and quarterly revenue of $12.948 billion.
<h1 class="wp-block-heading">INTC Stock Prediction 2024</h1>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Intel have an average 1-year price target of $34.86, representing an expected upside of 1.51%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. Four analysts have bearish recommendations on Intel, while one analyst has bullish ratings. The street high price target from Mizuho is $45, while the street low from Rosenblatt is $17.
INTC Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Intel Corporation ended Wednesday's session up 0.35% at $34.46.
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Image: Shutterstock

Global

Tech

ASML

INTC

NVDA

What Happened With Intel Stock Today?

Home BancShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMB#NYSE">HOMB</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.49 by 6.12 percent. This is a 1.96 percent increase over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $254.596 million which beat the analyst consensus estimate of $247.208 million by 2.99 percent. This is a 0.99 percent decrease over sales of $257.152 million the same period last year.

HOMB

Home BancShares Q2 2024 Adj EPS $0.52 Beats $0.49 Estimate, Sales $254.596M Beat $247.208M Estimate

Citigroup analyst Michael Ward maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Neutral and lowers the price target from $232 to $225.

Citigroup Maintains Neutral on Progressive, Lowers Price Target to $225

Citigroup analyst Thomas Palmer maintains Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) with a Buy and lowers the price target from $42 to $38.

Citigroup Maintains Buy on Kraft Heinz, Lowers Price Target to $38

1-800-Flowers.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLWS#NASDAQ">FLWS</a>) stock closed Wednesday at $10.00 per share, down more than 9%.
The company could miss the sales estimate for the fourth quarter of fiscal 2024 and issue its fiscal 2025 guidance below Street expectations, according to DA Davidson.
The 1-800-Flowers Analyst: Linda Bolton Weiser downgraded coverage of 1-800-Flowers from Neutral to Underperform, while reducing the price target from $11 to $8.
The 1-800-Flowers Thesis: Bloomberg debit card data, which is 94% correlated to sales, indicates a decline of 15% year-on-year in sales in the fourth quarter of fiscal 2024, versus a 13% decline in the prior quarter F3Q24, Weiser said in the downgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
This suggests that the consensus estimate of a 6% year-on-year decline in the fiscal fourth-quarter sales may prove to be too high, she added.
The University of Michigan consumer sentiment index, which is currently in the 60s-70s, needs to be consistently above 80 for 1-800-Flowers to return to low-single-digit sales growth, the analyst added.
"Consumers have tended to show up more on the big gift-giving holidays like Mother&#8217;s Day, but FLWS&#8217; everyday gifting business (which is the majority of sales) has been very anemic," she further wrote.
FLWS Price Action: Shares of 1-800-Flowershad declined by 9.09% to $10.00 at the time of publication on Wednesday.
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Image: Shutterstock

Analyst Color

Short Ideas

Downgrades

FLWS

1-800-Flowers Analyst Warns Bloomberg Debit Card Data Shows Unfavorable Trends

UnitedHealthcare has served Rhode Islanders through the MMCS program since 1993; this contract award will continue to provide access to UnitedHealthcare coverage and services through 2030.

Contracts

UnitedHealthcare Says Selected By The State Of Rhode Island To Serve Medicaid Members Through MMCS Program; This Contract Award Will Continue To Provide Access To Coverage And Services Through 2030

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Thomas R. CarperSenate (D-DE)	$1K - $15K	etf	Sale (Partial)	Jun 03, 2024	May 16, 2024	Senate
Thomas R. CarperSenate (D-DE)	$1K - $15K	etf	Purchase	Jan 03, 2024	Dec 18, 2023	Senate
Thomas R. CarperSenate (D-DE)	$1K - $15K	etf	Sale (Partial)	Mar 01, 2023	Feb 15, 2023	Senate
Thomas R. CarperSenate (D-DE)	$1K - $15K	etf	Purchase	Sep 02, 2022	Aug 10, 2022	Senate
Kevin HernHouse (R-OK)	$50K - $100K	etf	Purchase	Sep 15, 2021	Jul 30, 2021	House

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