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Hedge funds are shifting towards stability and value by favoring the health care sector over booming tech stocks.

Beyond Tech And AI: Why The Sector Hedge Funds Prefer Is Not The One You&#39;d Expect

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Biohaven&#39;s potential with RBC Capital Markets&#39; optimistic outlook.. RBC sees blockbuster potential of $3.2 billion across epilepsy and mood disorders. Anticipate significant developments in lead asset Kv7-7000&#39;s Phase 3 trial this year, reducing late-stage risks.

This Analyst Is Bullish On Biohaven&#39;s Approach in Neuro-Psych Space

AXSM

ABBV

UBS bullish on Axsome&#39;s Auvelity launch and pipeline, foreseeing $1 billion sales by 2030. Buy rating, $111 price target. Positive Phase 3 data for Alzheimer&#39;s Agitation and Narcolepsy.

UBS Bullish On This Depression Drug Maker, Says Alzheimer&#39;s Agitation Data Is Attractive Catalyst

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AMGN

MRNA

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VRTX

The rebound by biopharma stocks in 2023 and the pickup in M&amp;A news flow makes the 2024 JPMorgan Healthcare conference even more interesting.

5 Biotech Stocks That Should Be On Investors&#39; Radar As JPMorgan Healthcare Conference Gets Underway Monday

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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.

Microsoft To Rally Over 20%? Here Are 10 Top Analyst Forecasts For Thursday

Bristol-Myers&#39; Acquisition Of Karuna Therapeutics Paves Way For Aggressive Global Marketing Of KarXT: Analyst

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Cognizant Technology Solutions To Rally Over 13%? Here Are 10 Top Analyst Forecasts For Tuesday

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U.S. stocks traded mixed toward the end of trading, with the Dow Jones index turning lower on Friday.

The Dow traded down 0.05% to 37,385.32 while the NASDAQ rose 0.12% to 14,982.36. The S&amp;P 500 also rose, gaining, 0.15% to 4,753.64.

Dow Edges Lower; Nike Sales Miss Estimates

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Shares of AAR Corp. (NYSE: AIR) fell during Friday’s session after the company reported mixed second-quarter financial results.

Why AAR Shares Are Trading Lower By 7%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

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The S&amp;P 500 and Nasdaq 100 indices are on the verge of achieving an impressive eight consecutive weeks of gains following a more significant decline than expected in the Federal Reserve’s favored inflation gauge in November, the Personal Consumption Expenditures 

S&amp;P 500, Nasdaq 100 Aim For 8th Week Of Gains As Fed&#39;s Inflation Gauge Cools: What&#39;s Driving Markets Friday?

KARUNA THERAPEUTICS INC COM

Piper Sandler analyst Stephen Scouten maintains Simmons First Ntl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFNC#NASDAQ">SFNC</a>) with a Underweight and raises the price target from $18 to $20.

SFNC

Piper Sandler Maintains Underweight on Simmons First Ntl, Raises Price Target to $20

Big Lots Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) secured a $200 million loan earlier this year; now, it&#8217;s reaching out to potential investors to explore interest in a new loan backed by assets <a href="https://www.benzinga.com/news/financing">like the company&#8217;s leases</a>.
The discount home goods chain, which operates nearly 1,400 stores, has faced years of declining same-store sales, reported <a href="https://www.bloomberg.com/news/articles/2024-07-25/home-retailer-big-lots-seeks-more-financing-as-losses-pile-up?srnd=phx-industries-consumer&amp;sref=TBDibEcD">Bloomberg</a>.
To combat these challenges, Big Lots has shifted its focus back to extreme bargains and closeout sales after a strategic pivot to furniture sales faltered due to a decline in new home sales and renovations.
For the quarter ending May 4, Big Lots <a href="https://www.benzinga.com/news/earnings/24/06/39207986/big-lots-q1-earnings-revenue-and-profit-miss-ditches-eps-outlook-stock-crashes">reported a 10.2% drop in net sales</a> to approximately $1.01 billion compared to the previous year. 
CEO Bruce Thorn attributed the downturn to a &#8220;challenging consumer environment&#8221; and &#8220;strained budgets&#8221; during the company&#8217;s first-quarter earnings call. The retailer posted a net loss of $205 million for the period.
In addition to returning to its roots in bargain sales, Big Lots is considering sub-leasing some of its locations to generate more revenue. 
Columbus, Ohio-based Big Lots is not alone in facing difficulties within the retail sector due to a slowdown in home spending.
<a href="https://www.benzinga.com/markets/equities/24/07/39593413/why-furniture-retailer-conns-shares-are-getting-battered-on-tuesday">Conn&#8217;s Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CONN#NASDAQ">CONN</a>), another furniture retailer</a>, recently filed for bankruptcy, while LL Flooring Holdings Inc. is contemplating a Chapter 11 filing.
Price Action: BIG shares are trading higher by 1.83% at $1.11 in premarket at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Wikimedia Commons

CONN

Big Lots Faces Challenges, Reaches Out For New Loan

Piper Sandler analyst Andrew Liesch maintains Heritage Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTBK#NASDAQ">HTBK</a>) with a Overweight and raises the price target from $10 to $12.

HTBK

Piper Sandler Maintains Overweight on Heritage Commerce, Raises Price Target to $12

U.S. Court of Appeals for 3rd Circuit latest to reject unprecedented bankruptcy strategy
Lawyers on behalf of tens of thousands of ovarian cancer victims are calling on Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) to end its "war of attrition against cancer victims."
"The third time will not be the charm for J&amp;J," says <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.beasleyallen.com%2Fattorney%2Fandy-birchfield%2F&amp;esheet=54100050&amp;newsitemid=20240726363190&amp;lan=en-US&amp;anchor=Andy+Birchfield&amp;index=1&amp;md5=cfcb0fcce2b93c4e6c8f2353674b053d">Andy Birchfield</a>, head of the Mass Torts Litigation Section at the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.beasleyallen.com%2F&amp;esheet=54100050&amp;newsitemid=20240726363190&amp;lan=en-US&amp;anchor=Beasley+Allen+Law+Firm&amp;index=2&amp;md5=1bef3820518fe32492a421b61dea9598">Beasley Allen Law Firm</a>, who has been instrumental in helping to foil the first two attempts at bankruptcy by the half-trillion-dollar company. "Recent developments in the courts and in Congress should convince J&amp;J to abandon its strategy and act as a responsible corporation by providing truly fair and reasonable compensation in a non-coercive resolution."
On Thursday, the U.S. Court of Appeals for the 3rd Circuit reinforced an earlier ruling that J&amp;J could not stash its talc liabilities in a shell subsidiary and then plunge it into bankruptcy to stymie thousands of lawsuits alleging that its talc products caused ovarian cancer and mesothelioma. The court found the bankruptcy was filed in bad faith because the subsidiary, LTL Management, LLC, was not in financial distress.
Earlier this week, a bipartisan group of congressional lawmakers led by Sen. Josh Hawley (R-MO) and Sen. Sheldon Whitehouse (D-RI) introduced legislation to ban the Texas Two-Step. The Ending Corporate Bankruptcy Abuse Act (ECBA) of 2024 would deter the Texas Two-Step and ensure injury victims have a chance to be heard in court. The ECBA would instruct courts to presume a bankruptcy has been filed in bad faith if it is a Texas Two-Step bankruptcy.

Legal

Courts, Congress Likely To Stand In Way Of J&J's Third Texas Two-Step Plan; U.S. Court Of Appeals For 3rd Circuit Latest To Reject Unprecedented Bankruptcy Strategy; Lawyers On Behalf Of Ovarian Cancer Victims Are Calling On Johnson & Johnson To End Its "War Of Attrition Against Cancer Victims."

Piper Sandler analyst Charles Neivert maintains Dow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) with a Overweight and lowers the price target from $68 to $64.

Piper Sandler Maintains Overweight on Dow, Lowers Price Target to $64

BLMZ

BloomZ Shares Resume Trade

RBC Capital analyst Mike Dahl maintains Masco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>) with a Outperform and raises the price target from $78 to $79.

RBC Capital Maintains Outperform on Masco, Raises Price Target to $79

Carbon Revolution Public Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) shares are trading higher Friday after the company announced it will supply the carbon fiber wheels available on the <a href="https://www.benzinga.com/pressreleases/24/07/g39975123/carbon-revolution-supplies-carbon-fiber-wheels-for-chevrolet-corvette-zr1">new Chevrolet Corvette ZR1.&nbsp;</a>
The Details:
Carbon Revolution said its team developed a unique internal fiber architecture to meet General Motors Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) targets for strength, weight and durability in a thin, split five-spoke design.
&#8220;It has been a great honor to work with General Motors (GM) again. This will be the third Corvette to feature our carbon fiber wheels,&#8221; said Carbon Revolution CEO Jake Dingle. &#8220;Our team harnessed its extensive engineering and manufacturing experience to come up with a wheel befitting of the highest-performance Corvette we&#8217;ve ever seen.&#8221;
Read Next: <a href="https://www.benzinga.com/news/earnings/24/07/39971462/dexcom-stock-drops-after-mixed-q2-results-weak-forward-guidance">DexCom Stock Drops After Mixed Q2 Results, Weak Forward Guidance</a>
GM <a href="https://news.chevrolet.com/newsroom/news.detail.html/Pages/news/us/en/2024/jul/0725-zr1.html">revealed the</a> 2025 Chevy Corvette ZR1 on Thursday and said it will be powered by a twin-turbocharged, 5.5-liter, V8 engine capable of more than 1,000 horsepower.&nbsp;
"This thing pulls like a freight train," said Tadge Juechter, Corvette's executive chief engineer. "We expect this car to be essentially the fastest car we've ever built by a long measure."
Carbon Revolution's stock is climbing on heavy volume following the announcement and trading above its 50-day moving average of $7.76, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.&nbsp;
<h2 class="wp-block-heading">How To Buy CREV Stock:</h2>
By now you're likely curious about how to participate in the market for Carbon Revolution &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stocks can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
CREV Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Carbon Revolution shares are up 51% at $9.26 at the time of publication Friday.
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</ul>
Image: Courtesy of Carbon Revolution Public Ltd.

CREV

Carbon Revolution Stock Races On Chevrolet Corvette ZR1 Wheels

Piper Sandler analyst Michael Lavery maintains Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) with a Overweight and lowers the price target from $344 to $325.

Piper Sandler Maintains Overweight on Boston Beer Co, Lowers Price Target to $325

Piper Sandler analyst Scott Siefers maintains Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) with a Overweight and raises the price target from $45 to $48.

Piper Sandler Maintains Overweight on Citizens Financial Group, Raises Price Target to $48

RBC Capital analyst Gregory Renza reiterates Morphic Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MORF#NASDAQ">MORF</a>) with a Sector Perform and maintains $57 price target.

Reiteration

MORF

RBC Capital Reiterates Sector Perform on Morphic Holding, Maintains $57 Price Target

Although U.S. stocks closed mixed on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. 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">Truist Financial</h3>
<ul>
<li>The Trade: Truist Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) Chairman and CEO William H Rogers Jr <a href="https://www.benzinga.com/quote/TFC/analyst-ratings">acquired a total of 57,300 shares</a> at  an average price of $43.96. To acquire these shares, it cost around $2.52 million.</li>
<li>What's Happening: On July 22, Truist Finl posted upbeat quarterly earnings.</li>
<li>What Truist Financial Does: Based in Charlotte, North Carolina, Truist is the combination of BB&amp;T and SunTrust. Truist is a regional bank with a presence primarily in the Southeastern United States.</li>
</ul>
<h3 class="wp-block-heading">Texas Capital Bancshares</h3>
<ul>
<li>The Trade: Texas Capital Bancshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) Director Robert W Stallings acquired a total of 5,500 shares at an average price of $20.54. To acquire these shares, it cost around $112,950.</li>
<li>What's Happening: On July 18, Texas Capital Bancshares reported worse-than-expected second-quarter financial results.</li>
<li>What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.</li>
</ul>
<h3 class="wp-block-heading">Peoples Financial</h3>
<ul>
<li>The Trade: Peoples Financial Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PFBX#OTC">PFBX</a>) Director Ronald G Barnes <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 1,000 shares</a> at an average price of $16.00. To acquire these shares, it cost around $16,000.</li>
<li>What's Happening: On July 24, the company said net income for the second quarter was $2,329,000 down from $2,910,000 for the year-ago quarter.</li>
<li>What Peoples Financial Does: Peoples Financial Corp is a bank holding company that provides banking, financial and trust services to individuals, small and commercial businesses operating in Mississippi, Louisiana, and Alabama.</li>
</ul>
Read More: 
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</ul>

Long Ideas

Insider Trades

PFBX

TCBI

$2.5M Bet On Truist Financial? Check Out These 3 Stocks Insiders Are Buying

Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares are trading higher today.
The parent company of famous brands HOKA and UGG reported better-than-expected results&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39969460/deckers-brands-reports-first-quarter-fiscal-year-2025-financial-results" rel="noreferrer noopener">for the first quarter</a>. The company reported revenues of&nbsp;$825 million, versus&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">estimates</a> of $807.94 million.
Telsey Advisory Group analyst Dana Telsey maintains Deckers Outdoor with an Outperform and a&nbsp;$1,100&nbsp;price target.
The footwear company&#8217;s quarterly gross margin was 56.9% compared to 51.3% a year ago. Operating income&nbsp;was $132.8 million compared to $70.7 million a year earlier.
Check This Out: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39972186/deckers-outdoor-q1-earnings-revenue-eps-beat-on-strength-in-hoka-ugg-brands" rel="noreferrer noopener">Deckers Outdoor Q1 Earnings: Revenue, EPS Beat On Strength In HOKA, UGG Brands</a>
The company exited the quarter with cash and cash equivalents of $1.438 billion, up from $1.047 billion, while inventories increased to $753.3 million from $740.6 million, and it maintained a zero balance in borrowings.
Baird analyst Jonathan Komp maintains Deckers Outdoor with an Outperform and raises the price target from&nbsp;$1,050&nbsp;to&nbsp;$1,075.
During the first fiscal quarter, the company repurchased approximately 177 thousand shares of its common stock for a total of $152.0 million at a weighted average price paid per share of $858.79.
As of June 30, the company had approximately $789.7 million remaining under its stock repurchase authorization.
Deckers raised its full-year 2025 earnings guidance to be in the range of $29.75 to $30.65 per share (<a target="_blank" href="https://ir.deckers.com/news-events/press-releases/press-release/2024/DECKERS-BRANDS-REPORTS-FOURTH-QUARTER-AND-FULL-FISCAL-YEAR-2024-FINANCIAL-RESULTS/default.aspx" rel="noreferrer noopener">prior view</a>: 29.50 to $30.00).
Price Action: DECK shares are trading higher by 11.9% to $941.78 at last check Friday.
Photo by Nattawit Khomsanit via Shutterstock
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39980365/why-is-omnipod-insulin-device-maker-insulet-stock-jumping-today" target="_blank" rel="noreferrer noopener">Why Is Omnipod Insulin Device Maker Insulet Stock Jumping Today?</a></li>
</ul>

DECK

Why Deckers Outdoor Shares Are Gaining Today

Piper Sandler analyst Matt O'Brien maintains DexCom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) with a Overweight and lowers the price target from $150 to $90.

DXCM

Piper Sandler Maintains Overweight on DexCom, Lowers Price Target to $90

Nashville has long been a darling of homebuyers and investors. However, a wave of price cuts is underway, suggesting its yearslong housing boom <a href="https://finance.yahoo.com/news/massive-bubble-housing-market-developed-123013978.html">may end</a>.
According to real estate analytics firm Reventure, more than a third of Nashville home sellers reduced their asking prices in June, a record high for the month and well above historical norms. The surge in price reductions comes as the median list price in the Nashville metro area has dipped 3% from last year, though it remains nearly 50% above pre-pandemic levels.
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<li>Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a></li>
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&#8220;Nashville just set a record for price cuts,&#8221; Nick Gerli, CEO of Reventure, said on X (formerly Twitter). &#8220;That&#8217;s the highest level for June going back seven years and well above the long-term average of 24%.&#8221; "The price cut rate is one of the most important metrics you can look at as a homebuyer or real estate investor," he said. "When thousands of sellers across an entire market begin to reduce the price, it's generally a leading indicator that aggregate price levels will drop in the next six months."
The cooling trend isn&#8217;t limited to asking prices. The Greater Nashville Realtors Association reported that home sales in June were down 13% compared to last year, with pending sales also declining.
Trending: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
Yet, at the same time, according to the Greater Nashville Realtors Association, the median sale price for residential homes in the area increased from $474,000 in June 2023 to $505,000 this June. "There&#8217;s a lot of room for sellers to keep cutting," Gerli said. Jack Gaughan, vice president of the Greater Nashville Realtors Association, sees market opportunities. &#8220;There&#8217;s more inventory on the market, meaning that buyers have more choices and a little bit more leverage when it comes to negotiating a deal,&#8221; he said in an interview with local news station WKRN.
However, some believe the market correction could be more severe. Gerli ranks Nashville as one of America&#8217;s most overvalued housing markets, estimating that prices are 30% above long-term norms. "Don't be surprised if prices drop there in [the second half of] 2024," the real estate executive said on X.&nbsp;
See Also: Will the surge continue or decline on real estate prices?<a href="https://www.benzinga.com/money/realbricks"> People are finding out about risk-free real estate investing that lets you cash out whenever you want. </a>The situation in Nashville mirrors trends in other Sun Belt cities that saw <a href="https://www.benzinga.com/real-estate/24/06/39529294/house-prices-in-pandemic-era-boom-towns-are-going-bust-as-prices-fall">rapid price growth during the pandemic</a>. Areas like Texas, Florida, and Tennessee are seeing home values fall as a boom in construction in those states created too much supply. And, as mortgage rates remain elevated, many of those markets are seeing a pullback in buyer demand. "In a best-case scenario, the market will stall for 3-4 years as incomes catch up to prices," Gerli said. "In a more likely scenario, home prices will drop." Read Next:
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<li>This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a></li>
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Real Estate

Nashville's Housing Bubble Has Popped, And 'There's A Lot Of Room For Sellers To Keep Cutting,' Real Estate Executive Says

On Wednesday, Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) issued its second quarter results. Expectations were high after its Detroit peer, General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) lifted its full year profit guidance a day earlier. However, despite posting solid financials that topped estimates and raising its financial targets, shares of GM fell on Tuesday as Wall Street seems to fear the good times won&rsquo;t last.
Although Ford did not follow the footsteps of GM, its&nbsp;CEO Jim Farley&nbsp;assured investors that Ford+ restructuring plan is on track as the Blue Oval continues to seek greater profitability.
Second quarter highlights
For the April through June quarter,&nbsp;overall revenue, including its finance business, increased about 6% YoY to $47.81 billion. Automotive revenue amounted to&nbsp;$44.81 billion, surpassing LSEG&rsquo;s estimate of $44.02 billion.
Ford Blue, which stands for traditional business operations, brought in $1.17 billion.&nbsp;Ford Pro commercial business exceeded the traditional business as it brought in $2.56 billion, while the &ldquo;Model e&rdquo; EV unit reported a loss of $1.14 billion. However, this does not mean that Ford&rsquo;s EV sales are not doing well as quite the opposite, they&nbsp;surged 61.4%during the reported quarter fueled by Mustang Mach-E, Ford Lightning pickup, and E-Transit EV van.&nbsp;General Motors also reported EV deliveries surged 40% YoY during the second quarter.
Increases&nbsp;in its warranty reserves used to pay for vehicle issues weighed down profitability. Although CFO John Lawler&nbsp;did not disclose the total warranty costs, he did reveal they were $800 milion greater compared to the previous quarter. Net income for the second quarter was $1.83 billion, or 46 cents per share with the adjusted EBIT declining 27% YoY to $2.76 billion or 47 cents per share, short of LSEG&rsquo;s consensus estimate of 68 cents.&nbsp;
Raised gree cash flow guidance, but earnings outlook left without a lift.
Full year guidance was maintaned, with adjusted earnings before interest and taxes, or EBIT, expected in the range between $10 billion and $12 billion.
Ford+ restructuring plan remains on track.
With recent initiatives aimed at improving quality, Ford expects to bring down future warranty costs.&nbsp;Lawler spoke of Ford making a real progress in raising quality, lowering costs and reducing complexity across the entire enterprise, which will undoubedly benefit the GM rival down the road. When announced in May 2021, the Ford+&nbsp;initially revolved around EVs, but it has since been adjusted to adapt to customer choice and finding next-generation EVs that would drive profits. Now more realistic and sharpened, Ford&rsquo;s vision includes a small next-generation EV platform, which is a contrast compared to its best-selling pickup maker identity.&nbsp;
But,&nbsp;EVs still only make a fraction of total sales.
During the earnings call, Farley stressed that Ford is focusing on smaller and more profitable EVs in an effort to compete with Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) and Chinese rivals like BYD. Although the EV unit reported remarkable growth, enabling Ford to keep its second best sellling EV maker position in the U.S. right behind Tesla, outpacing GM, Ford is still facing significant challenges on this front as it also gudied for a full year loss of&nbsp;&nbsp;$5.5 billion. Impressively,&nbsp;the electric version of the F-150, the Lightning, recorded a sales jump of 77% while Mustang Mach-Efollowed with a surge of 46.5%, but the E-Transit van won the race with a sales rise of 95.5%.&nbsp;&nbsp;But the reality is that Ford has cut back on the productoion of Lightning and delayed abouy $12 billion in EV spending in response to slower than expected demand.
As for GM, EVs made only&nbsp;3.2% of&nbsp;&nbsp;total second-quarter U.S. sales.&nbsp;GM does expect to become profitable in this arena, on a productio or contribution-margin basis, once it reaches the output of 200,000 units which is expected by the fourth quarter.&nbsp;
But the EV landscape continues to evolve, with innovative companies like Worksport Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>) expected to raise the bar when it comes to electric pickups. This summer, Worksport is expected to launch the Alpha release of its solar-powered tonneau cover, Solis. Worksport is epxected to make quite a contirbution to the automotive sector with its intellectual asset portfolio. Together with the COR, a portable battery system, the SOLIS part of a power duo that Worksport developed with which it promises off-grid power on the go. The Solis will be available for the Ford F-150 Lightning, as well as light pickup trucks from General Motors, Stellantis, opening many new possibilities. As history has showed us, innovation has the way of paving the way for success. Therefore, just because it currently seems that the EV revolution is slowing down, it does not mean things could change in a blink of an eye when powerful innovation enters the room.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

TSLA

WKSP

Electrifying Its Best-Selling Pickup Isn't Enough To Bring Ford To The Promised EV Land

Piper Sandler analyst Andrew Liesch downgrades First Financial Northwest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFNW#NASDAQ">FFNW</a>) from Overweight to Neutral and maintains the price target from $23.5 to $23.5.

Downgrades

FFNW

Piper Sandler Downgrades First Financial Northwest to Neutral, Maintains Price Target to $23.5

Piper Sandler analyst Alexander Goldfarb upgrades Alexander &amp; Baldwin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALEX#NYSE">ALEX</a>) from Neutral to Overweight and raises the price target from $17 to $22.

Upgrades

ALEX

Piper Sandler Upgrades Alexander & Baldwin to Overweight, Raises Price Target to $22

Editor&#8217;s Note: The title has been updated to correct the typo
Charter Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) reported fiscal second-quarter 2024 revenue growth of 0.2% year-on-year to $13.69 billion, beating the <a href="https://www.benzinga.com/pressreleases/24/07/n39980543/charter-announces-second-quarter-2024-results" target="_blank" rel="noreferrer noopener">analyst consensus estimate of $13.59 billion</a>.
EPS of $8.49 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $7.95</a>. The stock price gained after the results.
Revenue growth of 1.3% in Internet, 36.9% in Mobile service, and 2.1% in Commercial aided the top line.
Charter lost 154,000 residential Internet customers, largely driven by the end of the FCC's Affordable Connectivity Program ("ACP") subsidies, compared to 70,000 additions last year. Residential video customers decreased by 393,000 versus a decrease of 189,000 in the prior year.
Adjusted EBITDA margin expanded by 100 bps to 41.4%.&nbsp;
The quarterly free cash flow of $1.3 billion improved from $668 million in the prior year, primarily due to higher net cash flows from operating activities.&nbsp;
As of June 30, 2024, Charter served 30.4 million residential and SMB Internet customers.&nbsp;
Net cash flow from operating activities totaled $3.9 billion. The company held $602 million in cash and equivalents as of June 30, 2024.
Outlook: Charter Communications&nbsp;expects a 2024 capex of $12.0 billion (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38461906/charter-communications-loses-residential-internet-customers-in-q1-reports-sharp-drop-in-video-subsc" rel="noreferrer noopener">prior $12.2 billion – $12.4 billion</a>).
The&nbsp;company's 2024 <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">revenue and EPS consensus</a> are $54.52 billion and $32.53.
Charter Communication stock has lost over 20% in the last 12 months. Earlier in July, Citigroup <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39623146/charter-communications-faces-analyst-warnings-on-broadband-revenue-challenges" rel="noreferrer noopener">downgraded the stock</a> rating, citing a challenging organic broadband environment. The analyst expected the second-quarter and third-quarter results to highlight the headwinds on broadband pricing and volumes.
CHTR&nbsp;Price Action: Charter Communications shares traded higher by 7.54% at $339.01 premarket at the last check on Friday.
Photo via Company

Guidance

Tech

CHTR

Charter Communications Q2 Sees Subscriber Loss On ACP Expiry, Still Beats Expectations (UPDATED)

The Nasdaq 100 closed lower by more than 200 points 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 <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">NVIDIA</h3>
<ul>
<li>The Trade: NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) President and CEO Jen Hsun Huang <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 240,000 shares</a> at an average price of $120.29. The insider received around $28.9 million from selling those shares.</li>
<li>What's Happening: On July 22, Piper Sandler analyst Harsh Kumar maintained NVIDIA with an Overweight and raised the price target from $120 to $140.</li>
<li>What NVIDIA Does: Nvidia is a leading developer of graphics processing units.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">latest NVDA news</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="671" height="751" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051834/Screenshot-2024-07-26-at-2.48.28-PM.png" alt="" class="wp-image-458834" style="width:395px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051834/Screenshot-2024-07-26-at-2.48.28-PM.png 671w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051834/Screenshot-2024-07-26-at-2.48.28-PM-268x300.png 268w" sizes="(max-width: 671px) 100vw, 671px" /></a></figure>
<h3 class="wp-block-heading">Lockheed Martin</h3>
<ul>
<li>The Trade: Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) Pres. Missiles &amp; Fire Control Timothy S Cahill <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 3,975 shares</a> at an average price of $515.36. The insider received around $2.05 million from selling those shares.</li>
<li>What's Happening: On July 25, JP Morgan analyst Seth Seifman maintained Lockheed Martin with an Overweight and raised the price target from $518 to $560.</li>
<li>What Lockheed Martin Does: Lockheed Martin is the world&#8217;s largest defense contractor and has dominated the Western market for high-end fighter aircraft since it won the F-35 Joint Strike Fighter program in 2001.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">trend in LMT stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="683" height="745" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051929/Screenshot-2024-07-26-at-2.49.25-PM.png" alt="" class="wp-image-458836" style="width:402px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051929/Screenshot-2024-07-26-at-2.49.25-PM.png 683w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051929/Screenshot-2024-07-26-at-2.49.25-PM-275x300.png 275w" sizes="(max-width: 683px) 100vw, 683px" /></a></figure>
<h3 class="wp-block-heading">Paychex</h3>
<ul>
<li>The Trade: Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) Sr. VP of Sales Mark Anthony Bottini <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 8,954 shares</a> at an average price of $123.60. The insider received around $1.1 million from selling those shares.</li>
<li>What's Happening: On July 10, Paychex declared a regular quarterly cash dividend of 98 cents per share.</li>
<li>What Paychex Does: Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States.</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">breakout in PAYX shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="660" height="755" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052018/Screenshot-2024-07-26-at-2.50.13-PM.png" alt="" class="wp-image-458837" style="width:488px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052018/Screenshot-2024-07-26-at-2.50.13-PM.png 660w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052018/Screenshot-2024-07-26-at-2.50.13-PM-262x300.png 262w" sizes="(max-width: 660px) 100vw, 660px" /></a></figure>
<h3 class="wp-block-heading">Portland General Electric</h3>
<ul>
<li>The Trade: Portland General Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>) EVP, COO Benjamin Felton <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,886 shares</a> at an average price of $48.00. The insider received around $90,528 from selling those shares.</li>
<li>What's Happening: On July 22, Keybanc analyst Sophie Karp upgraded Portland Gen Electric from Sector Weight to Overweight.</li>
<li>What Portland General Electric Does: Portland General Electric is a regulated electric utility providing generation, transmission, and distribution services in a service territory that includes about half of all Oregon residents and two thirds of the state&#8217;s business activity.</li>
<li>Benzinga Pro's earnings calendar was used to track POR <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">upcoming earnings report</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="663" height="745" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052844/Screenshot-2024-07-26-at-2.58.33-PM.png" alt="" class="wp-image-458860" style="width:458px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052844/Screenshot-2024-07-26-at-2.58.33-PM.png 663w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052844/Screenshot-2024-07-26-at-2.58.33-PM-267x300.png 267w" sizes="(max-width: 663px) 100vw, 663px" /></a></figure>
Check This Out: 
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<li><a href="https://www.benzinga.com/news/24/07/39958830/top-3-defensive-stocks-that-are-ticking-portfolio-bombs">Top 3 Defensive Stocks That Are Ticking Portfolio Bombs</a></li>
</ul>

Short Ideas

NVDA

Nvidia, Lockheed Martin And 2 Other Stocks Insiders Are Selling

Bristol-Myers Squibb: Turnaround Expected

Catalyst Watch: Oracle earnings, Arm IPO lockup, and triple-witching day

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on MDxHealth (MDXH – Research Report), OrthoPediatric...

Analysts Conflicted on These Healthcare Names: MDxHealth (MDXH), OrthoPediatrics (KIDS) and Karuna Therapeutics (KRTX)

Intra-Cellular Therapies Is On Fire

Karuna Therapeutics gains as HSR waiting period for Bristol-Myers deal expires

Analysts fell to the sidelines weighing in on Karuna Therapeutics (KRTX – Research Report) and Cannabist Company Holdings (CBSTF – Research Report)...

Analysts Offer Insights on Healthcare Companies: Karuna Therapeutics (KRTX) and Cannabist Company Holdings (OtherCBSTF)

Karuna Therapeutics gains as HSR waiting period for Bristol-Myers deal expires (update)

The latest update is out from Karuna Therapeutics (KRTX). Karuna has successfully completed a merger, resulting in the conversion of each outstandi...

Karuna Therapeutics Undergoes Extensive Corporate Transformation

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Government Trades

KARUNA THERAPEUTICS INC COM

top performing KRTX trades