Gain detailed insights into the trading activity of Congress members for SWAV on our government trades page. Stay updated on how elected officials are investing in SWAV.

SWAV - Government Trades

ShockWave Medical

Sarepta_Boston_232

News

Movers

SRPT

SWAV

Sarepta Therapeutics, Inc. (NASDAQ: SRPT) stock is trading higher on Thursday after it was announced the company will be added to the S&amp;P MidCap 400.

Why Sarepta Therapeutics Stock Is Rising Today

jnj johnson shutter

Biotech

Large Cap

Health Care

General

Johnson &amp; Johnson acquires Proteologix for $850 million, expanding its bispecific antibody portfolio for immune-mediated diseases.

Johnson &amp; Johnson To Acquire Early-Stage Eczema Treatment Developer Proteologix For $850M

Opinion

Federal Reserve

Markets

One of the best experiences I’ve had in my investment career was being partner and co portfolio manager with Raji Khabbaz. He’s a fantastic stock-picker and the two of us spent the  better part of a decade discussing and debating investment ideas.

Monthly Depth Report: The Blind Leading The Confused

MRNA

On Tuesday, Johnson &amp; Johnson (NYSE: JNJ) delivered a rather mixed first quarter report. Adjusted earnings surpassed estimates as sales in its medical devices business surged, while revenue was almost in line with estimates.

Johnson &amp; Johnson Shows Focus On Strengthening Its Business Upon Its Consumer Health Unit Spinoff

Economics

Real Estate

The Shockwave offer that DKI predicted in December happened this week with Johnson &amp; Johnson (NYSE: JNJ)agreeing to pay $335 per share in cash. DKI subscribers celebrated! The PMI came in  hot. Don’t want to read the details? The conclusion is “higher for longer”.

5 Things To Know In Investing This Week - The Shockwave Takeover Issue

Johnson&amp;Johnson.Shutterstock

Analyst Color

Analyst Ratings

Johnson &amp; Johnson acquires Shockwave Medical, bolstering its presence in cardiovascular intervention. The move marks a strategic shift, with around $30 billion invested in MedTech over 18 months.

Johnson &amp; Johnson&#39;s $13B Shockwave Medical Deal Accelerates MedTech Strategy, Analyst Says

Trading Ideas

Shockwave Medical Inc (NASDAQ:SWAV) is in the spotlight today, after blue-chip pharmaceutical giant Johnson &amp; Johnson (NYSE: JNJ) announced it would buy the company for $13.1 billion, boosting its portfolio of cardiovascular disease treatment devices.

Shockwave Medical Stock Rises After Johnson &amp; Johnson Buyout

Price Target

Small Cap

Pre-Market Outlook

CRVO

HBAN

PLOW

PRGO

SMPL

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.

Disney To Rally Around 10%? Here Are 10 Top Analyst Forecasts For Monday

Johnson Johnson logo in front of one of their office buildings, Fremont, East San Francisco bay area, California. Image By Sundry Photography Via Shutterstock

Johnson &amp; Johnson to acquire Shockwave Medical for $335.00/share in cash, bolstering its cardiovascular intervention portfolio. The acquisition, expected to close by mid-2024, signifies Johnson &amp; Johnson&#39;s strategic focus on innovation and market expansion.

Johnson &amp; Johnson Makes Yet Another Multi-Billion MedTech Deal With Shockwave Medical

NVDA

5 Things to Know in Investing This Week

SHOCKWAVE MED INC

Most electric-vehicle stocks advanced in the week ended Aug. 23, <a href="https://www.benzinga.com/markets/equities/24/08/40535770/feds-powell-hints-at-policy-shifts-dollar-plunges-gold-rallies-as-investors-flock-to-rate-cut-wi">rising along with the broader market</a> on hopes that a Federal Reserve rate cut is imminent. But company-specific news weighed down on some of them.
Here&#8217;s a rundown on what happened in the EV space during the week:
Mixed Tidings For Tesla In Europe: The European Union said this week that it would cut duty on Tesla, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) made-in-China EVs imported into the region from the initially proposed 20.8% to 9%. The reduced tariff rates will also apply to other Chinese companies. The EU already had a 10% duty on imports of battery EVs coming into the country and the new duty was meant to protect domestic companies from unfair competition from Chinese makers, which benefit heavily from what it called as &#8220;unfair subsidies.&#8221; 
The development comes even as Tesla lost the BEV crown to BMW AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BWMYY#OTC">BWMYY</a>) in July. The German luxury automaker delivered 14,869 BEVs in July compared to Tesla&#8217;s 14,561, data from market research firm JATO Dynamics showed.
Another longtime executive quit Tesla this week, with Sreela Venkataratnam, Vice President, Finance and Business Operations, leaving after an 11-year stint. Incidentally, a handful of key Tesla executives departed when the company announced large-scale job cuts in April. In another turn of event, Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) has reportedly hired former Tesla executive Rebecca Tinucci, who served as Tesla&#8217;s head of charging network, as its global head of sustainability.
Rawlinson Says Tesla Distracted: Luxury EV maker Lucid Group, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) Peter Rawlinson was at it again. In an interview with Yahoo Finance this week, he <a href="https://finance.yahoo.com/news/lucid-ceo-weve-taken-the-mantle-from-a-distracted-tesla-220430625.html">said</a>, &#8220;We are considerably ahead of where Tesla is. We&#8217;ve taken that mantle. When I was at Tesla, Tesla was the tech leader. They&#8217;ve become distracted, and we have taken that place.&#8221; Lucid is on track to complete the build of its Arizona plant to a 90,000-unit per year capacity and manufacture 9,000 Lucid Airs this year, with Gravity rolling out this year, he added.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
Ford Scales Back EV Plans: Legacy automaker Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), which previously dialed back its EV plans a couple of times, announced that it would scrap plans to launch three-row all-electric SUVs and instead manufacture hybrids. The company also delayed the rollout of its next-gen electric truck to the second half of 2027, while it said it would begin making new electric commercial van which would use battery cells produced at its Tennessee plant. The series of steps are necessitated by rising competition from low-cost EV manufacturers, especially from China, and the aggressive pricing strategy adopted by industry players.
&#8220;With pricing and margin compression, we've made the decision to adjust our product and technology roadmap and industrial footprint to meet our goal of reaching positive EBIT within the first 12 months of launch for all new models,&#8221; said CFO John Lawler.
Workhorse Cash-Strapped: Ohio-based EV manufacturer Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) announced disappointing second-quarter results, with revenue coming in at $0.84 million, missing the street view of $8.43 million. The company attributed much of the sales drop to lower W4 CC vehicle sales. The bottom-line also missed expectations. In the quarterly report filed with the SEC, the company sounded out a going concern warning.
Canoo Executive Quits: Struggling lifestyle EV maker Canoo, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>) chief technology officer Sohel Merchant, one of the founding members, has quit as the company is going through a significant reorganization, TechCrunch <a href="https://techcrunch.com/2024/08/23/canoo-cto-sohel-merchant-is-out-amid-wider-reorg/">reported</a>. The report noted that the company has been implementing austerity measures including closing down of its Los Angeles location and asking those working out of the place to relocate to either Texas or Oklahoma.
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session up 1.21% at $18.93, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. For the week, the ETF was up 3.44% .
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:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40501349/bad-tidings-for-tesla-and-its-peers-were-in-the-dead-of-the-ev-winter-says-gene-mun">Bad Tidings For Tesla And Its Peers? &#8216;We&#8217;re In The Dead Of The EV Winter,&#8217; Says Gene Munster, As He Expects Growth To Collapse From 50% In 2023 To 5% This Year</a></li>
</ul>
Here&#8217;s how the EV stocks fared this week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>+1.94%</td>
</tr>
<tr>
<td>Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>+3.29%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+1.01%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>+3.36%</td>
</tr>
<tr>
<td>Workhorse </td>
<td>-33.55%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>+20.59%</td>
</tr>
<tr>
<td>Canoo</td>
<td>-2.00%</td>
</tr>
<tr>
<td>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)</td>
<td>+5.68%</td>
</tr>
<tr>
<td>Lucid</td>
<td>+33.33%</td>
</tr>
<tr>
<td>Faraday Future Intelligent Electric Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NYSE">FFIE</a>)</td>
<td>+41.21%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-7.63%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>-3.68%</td>
</tr>
</tbody>
</table>
</figure>

Equities

BWMYY

FFIE

GOEV

HYZN

KARS

LCID

NKLA

RIVN

TSLA

UBER

WKHS

XPEV

Tesla Gets Relief In Europe, Ford's Electrification Struggles, Lucid Boasts Of Tech Leadership And More: Biggest EV Stories Of The Week

A new 2024 election poll may be an outlier in the head-to-head matchup between Donald Trump and Kamala Harris with Trump leading 10 weeks before the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election</a>.
What Happened: Since Harris became the Democratic Party candidate, which was officially confirmed with her <a href="https://www.benzinga.com/general/politics/24/08/40536774/kamala-harris-accepts-historic-democratic-party-nomination-heres-what-comes-next-chance-to-chart">nomination at the DNC</a>, she has led many polls.
But one poll that differs is from conservative-leaning firm <a href="https://www.rasmussenreports.com/public_content/politics/biden_administration/election_2024_trump_49_harris_46">Rasmussen</a>. The newest Rasmussen poll shows Trump with a lead. Here's the latest, with the previous poll results in parentheses.
Donald Trump: 49% (49%)
Kamala Harris: 46% (45%)
The poll shows 2% of voters undecided and 2% of voters saying they would vote for another candidate. With the poll expanded beyond the head-to-head options, the results were:
Donald Trump: 47%
Kamala Harris: 45%
Robert F. Kennedy Jr.: 4%
The poll was conducted between Aug. 15 and Aug. 21 and came before the Democratic National Convention had been completed and before Kennedy <a href="https://www.benzinga.com/general/politics/24/08/40535286/rfk-jr-suspends-2024-presidential-campaign-endorses-trump-to-block-democrats-from-white-house">suspended his campaign,</a> two key political events for the week.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent082324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: The poll itself is an outlier, with Harris averaging a 2% lead in national head-to-head polls as <a href="https://www.realclearpolling.com/polls/president/general/2024/trump-vs-harris-vs-kennedy-vs-stein-vs-west">reported</a> by RealClearPolling.
Even the Rasmussen poll showing Trump with a three-point lead is a significant improvement for the Democratic Party from the <a href="https://www.benzinga.com/news/24/06/39445709/trump-vs-biden-rasmussen-poll-now-shows-one-candidate-has-huge-lead-over-other-with-just-4-months-be">10-point lead</a> Trump had over Joe Biden in June before Biden dropped out of the race.
While Kennedy endorsed Trump, not all his supporters will shift over to the Republican ticket.
Trump could pick up 2% to 3% based on Kennedy Jr.'s support, which could increase his lead in one of the few polls showing him leading over Harris.
The next few national polls from leading polling agencies post Kennedy dropping out could be important indicators ahead of a highly anticipated presidential debate on Sept. 10.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent082324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>

Politics

Trump Vs. Harris: New 2024 Election Poll Shows Outlier For Former President With 3-Point Lead, RFK Jr. Backing Could Add To Margin

Officials from three of the world&#8217;s leading central banks have now hinted at potential interest rate cuts in the upcoming months. This move comes as the global economy continues to recover from the inflationary <a href="https://www.benzinga.com/news/24/08/40303485/mark-mobius-predicts-further-economic-struggles-following-stock-market-crash-this-is-a-real-problem">effects of the pandemic</a>.
What Happened: Jerome Powell, the Chair of the Federal Reserve, suggested at an annual gathering of global policymakers and economists in Jackson Hole, Wyoming, that the U.S. central bank is likely to lower rates in September.
Several members of the European Central Bank&#8217;s Governing Council, including Olli Rehn of Finland, Martins Kazaks of Latvia, Boris Vujcic of Croatia and Mario Centeno of Portugal, also expressed their support for a further reduction in interest rates next month, <a href="https://www.bloomberg.com/news/articles/2024-08-23/major-central-banks-now-aligned-as-powell-signals-fed-cuts-ahead?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a> Bloomberg.
"The time has come for policy to adjust," Powell said. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the balance of risks."
Rehn has said that the euro area as "on track and the growth outlook in Europe, especially manufacturing, is rather subdued." He added that "this enforces the case for a rate cut in September."
Andrew Bailey, the Governor of the Bank of England, indicated a potential for further rate cuts, following a quarter-point reduction to 5% earlier this month, which was the first since the onset of the pandemic. 
Also Read: <a href="https://www.benzinga.com/news/24/08/40431394/brighter-outlook-goldman-sachs-optimistic-on-u-s-economy-cuts-recession-risk-down-to-20">Brighter Outlook: Goldman Sachs Optimistic On U.S. Economy, Cuts Recession Risk Down To 20%</a>
Central banks in Canada, New Zealand and China are also considering easing their rates.
Despite these indications, Powell did not provide much guidance beyond September, stating that the timing and pace of rate cuts would depend on incoming data and the evolving outlook. 
He stressed the importance of supporting the labor market, in light of the recent rise in the unemployment rate to nearly a three-year high of 4.3%.
Research presented at the Jackson Hole conference warned that the US labor market is nearing a tipping point, and policymakers run the risk that additional slowing could bring a much larger increase in the unemployment rate.
Why It Matters: The potential interest rate cuts by these major central banks could have significant implications for the global economy. Lower interest rates typically stimulate economic growth by making borrowing cheaper, which can encourage spending and investment. 
However, they can also lead to increased inflation. As the world continues to recover from the economic impacts of the Covid-19 pandemic, these decisions by central banks will be closely watched by investors and economists alike.
Read Next:&nbsp;
<a href="https://www.benzinga.com/general/market-summary/24/08/40429168/s-p-500-records-best-week-of-the-year-amid-favorable-economic-reports-what-really-drove-th" target="_blank" rel="noreferrer noopener">S&amp;P 500 Records Best Week Of The Year Amid Favorable Economic Reports: What Really Drove The Rally?</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Fed Chair Powell's Signal Sets Stage For Rate Global Central Banks Hint At Interest Rate Cuts In Reviving Economy

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week. Here&#8217;s a look at some of our top stories.
The three major averages posted gains for the week, with the Dow up nearly 1.3%, the Nasdaq gaining 1.4%, and the S&amp;P 500 rising 1.45%. 
Stocks moved higher Friday morning after Federal Reserve Chair Jerome Powell signaled <a href="https://www.benzinga.com/markets/equities/24/08/40535770/feds-powell-hints-at-policy-shifts-dollar-plunges-gold-rallies-as-investors-flock-to-rate-cut-wi">potential interest rate decreases</a> during his Jackson Hole speech, stating, "The time has come for policy to adjust." However, Powell refrained from specifying the timing or extent of any rate cuts, emphasizing a data-driven approach.
The anticipation of lower rates contributed to a drop in the dollar, which hit its lowest level in over a year, and boosted interest rate-sensitive sectors like small-cap stocks, real estate, and regional banks.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40443620/goldman-sachs-is-bullish-on-nvidia-ahead-of-earnings-risk-reward-for-ai-stock-favor">Goldman Sachs Is Bullish On Nvidia Ahead Of Earnings: Risk-Reward For AI Stock &#8216;Favorable&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, details Goldman Sachs&#8217; optimistic outlook on Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), driven by strong AI demand and Data Center growth, with potential for an 89% stock price increase despite risks from delayed GPU launches.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40470458/make-as-much-money-as-possible-before-ai-renaissance-says-raoul-pal-who-sees-bitcoin-as-th">‘Make As Much Money As Possible' Before AI ‘Renaissance,' Says Raoul Pal, Who Sees Bitcoin As ‘The Standout Asset'</a>,&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, features Raoul Pal&#8216;s advice to capitalize on assets like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) before AI and robotics reshape the economy, emphasizing Bitcoin&#8217;s historical outperformance amid ongoing currency debasement.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40505439/broadcom-secures-major-wins-with-openai-google-meta-as-it-targets-150b-ai-market">Broadcom Secures Major Wins With OpenAI, Google, Meta As It Targets $150B AI Market</a>,&#8221; by <a href="https://www.benzinga.com/author/surbhi-jain">Surbhi Jain</a>, highlights Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) securing critical AI ASIC partnerships with OpenAI, Google parent Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), positioning itself to capitalize on a $150 billion AI market.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40461722/amazons-multi-billion-dollar-run-rate-in-ai-drives-strategist-to-double-down-on-stock">Amazon&#8217;s &#8216;Multi-Billion Dollar Run Rate&#8217; In AI Drives Strategist To Double Down On Stock</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40457722/gold-is-getting-its-moment-in-the-sun-and-experts-say-the-record-high-prices-could-">Gold &#8216;Is Getting Its Moment In The Sun&#8217; And Experts Say The Record High Prices Could Climb Even Higher: Here&#8217;s The Case For Even More Glittering Gains</a>
<a href="https://www.benzinga.com/top-stories/24/08/40514465/carvana-defies-the-odds-with-217-ytd-rally-is-the-comeback-story-real">Carvana Defies The Odds With 217% YTD Rally: Is The Comeback Story Real?</a>
The Bears
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40459460/tesla-shares-kind-of-dead-in-the-water-until-this-happens-says-portfolio-manager-bl">Tesla Shares &#8216;Kind Of Dead In The Water&#8217; Until This Happens, Says Portfolio Manager, Blames CEO Elon Musk For Alienating Customers &#8216;Super Important To Him,&#8217;</a>&#8221; by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, discusses Bill Davis of Hennessy Stance ESG ETF expressing concerns about Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) due to its absence in the low-cost EV segment and Elon Musk&#8216;s leadership, suggesting the stock may remain stagnant until Tesla addresses these issues.
&#8220;<a href="https://www.benzinga.com/news/24/08/40528681/intel-board-member-lip-bu-tan-resigns-amid-chipmakers-struggle-with-cost-cuts">Intel Board Member Lip-Bu Tan Resigns Amid Chipmaker&#8217;s Struggle With Cost Cuts</a>,&#8221; by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports that Lip-Bu Tan resigned from Intel Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) board to reprioritize commitments, as the company faces challenges with its $10 billion cost-reduction plan amid a 39% stock decline over the past year.
&#8220;<a href="https://www.benzinga.com/top-stories/24/08/40511947/investors-are-further-confused-on-snowflake-one-analyst-says-they-know-why">Snowflake Investors &#8216;Further Confused&#8217; After Q2 Earnings: One Analyst Says They Know Why</a>,&#8221; by <a href="https://www.benzinga.com/author/priya-nigam">Priya Nigam</a>, explains why Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) shares dropped 13.5%, as analysts pointed to mixed signals from management&#8217;s guidance despite strong quarterly results, leaving investors puzzled over the company&#8217;s growth outlook.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40505099/peter-schiff-warns-dollar-on-verge-of-a-total-collapse-as-greenback-succumbs-to-ris">Peter Schiff Warns Dollar On &#8216;Verge Of A Total Collapse&#8217; As Greenback Succumbs To Rising Rate Cut Bets</a>
<a href="https://www.benzinga.com/news/24/08/40503967/fisker-recalls-nearly-8k-ocean-suvs-over-risks-of-reduced-braking-performance">Fisker Recalls Nearly 8K Ocean SUVs Over Risks Of Reduced Braking Performance</a>
<a href="https://www.benzinga.com/markets/equities/24/08/40483291/boeings-777x-faces-yet-another-setback-structural-cracks-reportedly-force-grounding-of-test-flee">Boeing&#8217;s 777X Faces Yet Another Setback: Structural Cracks Reportedly Force Grounding Of Test Fleet</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence via Midjourney.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Long Ideas

Short Ideas

$BTC

AVGO

GOOGL

INTC

SNOW

Benzinga Bulls And Bears: Nvidia, Tesla, Snowflake, Broadcom — And Raoul Pal Advocates Bitcoin Before AI

Tesla and SpaceX CEO Elon Musk&nbsp;has reportedly given a new directive to&nbsp;X, formerly Twitter,&nbsp;employees. They need to prove their value to the company to receive their expected stock grants.
What Happened: Musk&#8217;s social media company intends to distribute&nbsp;stock options based on the&nbsp;anticipated impact of employees on the company. 
To be eligible for the stock, X staffers must provide a one-page summary of&nbsp;their contributions to the company, <a href="https://www.theverge.com/2024/8/23/24226830/elon-musk-email-x-twitter-stock-grants">reported</a> The Verge, citing an email sent by Musk to employees.
This move comes in the wake of recent discord between X&#8217;s leadership and its employees, following an <a href="https://www.benzinga.com/news/24/06/39304750/linda-yaccarino-reportedly-leaves-staff-in-dark-over-delayed-promotions-who-is-the-grim-reaper-that">unexpected delay in the promotions</a> process.
Amid the company&#8217;s ongoing challenges under Musk&#8217;s leadership,&nbsp;employees have been bracing for&nbsp;potential job cuts.
See Also:&nbsp;<a href="https://www.benzinga.com/general/gaming/24/08/40472835/take-two-interactive-software-shares-are-trading-higher-today-whats-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Take-Two Interactive Software Shares Are Trading Higher Today: What&#8217;s Going On</a>
An insider at X told The Verge, that X is yet to deliver the annual equity refresher to its staff, which was due in April. 
The tech mogul had earlier assured employees that they would be able to cash out stock regularly, akin to SpaceX staff, but this assurance remains unfulfilled, the report noted.
The last equity refresh for X employees took place in October 2023, when the company was valued at $19 billion, a significant decrease from&nbsp;the <a href="https://www.benzinga.com/news/24/05/38997483/elon-musk-who-acquired-twitter-for-44b-says-social-media-is-bad-for-kids-theyre-being-programmed-by">$44 billion Musk paid&nbsp;for it</a>. 
During this refresh, employees were granted restricted stock units, or RSUs, at a price of $45, the report stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: As the world&#8217;s richest person, Musk has been known for his stringent management style, often expecting employees to <a href="https://www.benzinga.com/news/24/08/40429672/elon-musk-is-the-richest-person-in-the-world-how-much-does-he-pay-employees-at-tesla-spacex-and-x">work unconventional hours</a> for extended periods.
X has also been facing legal challenges and winning some of them. Last month, <a href="https://www.benzinga.com/news/24/07/39702644/elon-musks-x-corp-wins-500m-severance-lawsuit-judge-rules-laid-off-twitter-employees-claims-not-cove">X Corp won a $500 million severance</a> lawsuit. Earlier this month, the company was also <a href="https://www.benzinga.com/news/24/08/40298641/elon-musks-x-faces-20m-lawsuit-from-ex-twitter-board-member-omid-kordestani-over-unpaid-shares">sued by former Twitter board</a> member Omid Kordestani over unpaid shares worth $20 million.
In August, the names of high-profile investors in X were also <a href="https://www.benzinga.com/news/24/08/40501097/elon-musks-x-reveals-its-investors-include-saudi-prince-al-waleed-bin-talal-al-saud-jack-dorsey-andr">revealed in a court filing</a>. The names included Saudi Prince Al Waleed bin Talal al Saud, Twitter co-founder Jack Dorsey, and Andreessen Horowitz.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/23/05/32623067/how-to-take-the-perfect-moon-shot-using-an-iphone-14?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Take The Perfect Moon Shot Using An iPhone 15</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

Tech

Media

Elon Musk's X Staff Have To Justify Why They Deserve Stock Grants, With 1-Page Summary Of Their Contributions: Report

After a series of high-profile employees left ChatGPT-parent OpenAI, the startup has onboarded former Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) executive, Irina Kofman.&nbsp;
What Happened: Kofman will be reporting directly to OpenAI CTO Mira Murati and will initially focus on safety and preparedness, <a href="https://www.bloomberg.com/news/articles/2024-08-23/openai-hires-ex-meta-executive-irina-kofman-to-head-strategic-initiatives?srnd=homepage-americas">reported</a> Bloomberg, citing a company spokesperson.
According to Kofman's LinkedIn page, she has served as a senior director of product management for generative AI at Meta for five years.
See Also:<a href="https://www.benzinga.com/general/gaming/24/08/40472835/take-two-interactive-software-shares-are-trading-higher-today-whats-going-on?itm_source=parsely-api"> Take-Two Interactive Software Shares Are Trading Higher Today: What&#8217;s Going On</a>
Earlier in June, OpenAI also added former Instagram and Twitter (now rebranded as X) executive Kevin Weil as chief product officer.&nbsp;
The startup has also onboarded former Nextdoor CEO Sarah Friar as chief financial officer, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI has also seen <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">some notable exits</a>. This includes one of OpenAI's co-founders John Schulman and researcher Jan Leike, who have joined Anthropic, a rival to OpenAI.
In May, OpenAI chief scientist Ilya Sutskever also announced his departure from the company after nearly a decade.&nbsp;
In August, another OpenAI co-founder Greg Brockman also announced that he is <a href="https://www.benzinga.com/news/24/08/40177350/openai-president-greg-brockman-says-hes-taking-a-sabbatical-through-end-of-year-but-admits-mission-f">taking a sabbatical</a>.&nbsp;
The AI startup has also been involved in a talent war with other tech companies. In April, Tesla and SpaceX CEO Elon Musk also said that OpenAI has been <a href="https://www.benzinga.com/news/24/04/38083332/elon-musk-reveals-openai-aggressively-poaching-tesla-engineers-with-massive-compensation-offers-tale">aggressively poaching engineers</a> from his EV giant.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40506723/justin-bieber-eminem-drake-and-linus-tech-tips-had-their-youtube-accounts-hacked-the-streaming-giant?itm_source=parsely-api"> Justin Bieber, Eminem, Drake, And Linus Tech Tips Had Their YouTube Accounts Hacked: The Streaming Giant Now Has A Solution – An AI Chatbot</a></li>
</ul>
Photo courtesy: Shutterstock

MSFT

ChatGPT-Maker OpenAI Taps Former Meta Exec To Drive Strategy Amid Growing Exodus

Tech billionaire Elon Musk's space company, SpaceX, is now powering high-speed internet services aboard the USS Abraham Lincoln, thanks to its <a href="https://www.benzinga.com/topic/starlink">Starlink satellite services</a>.
What Happened: According to the U.S. Department of Defense, the U.S. Navy has implemented Starlink on the aircraft carrier USS Abraham Lincoln (CVN 72) to achieve gigabit internet speeds.&nbsp;
The installation aims to enhance both operational efficiency and crew morale.
The initiative, part of the SEA2 (Sailor Edge Afloat and Ashore) program, was spearheaded by Cmdr. Kevin White, a combat systems officer on the carrier. This new system uses low-orbit satellites to provide high-speed internet to naval ships and shore sites.
Previously, ship communications relied on Department of Defense satellites, which were in geostationary orbit and resulted in slower data rates. The new low-orbit satellites, like Starlink, are positioned between 375 to 750 miles above Earth, offering faster and more reliable connections.
The need for better connectivity became more urgent during the COVID-19 pandemic when port calls were restricted, isolating ships from the rest of the world. Enhanced internet access aims to mitigate such issues in the future.
See Also: <a href="https://www.benzinga.com/news/24/08/40243971/spacex-ceo-elon-musk-applauds-company-president-gwynne-shotwell-after-she-envisions-complete-worldwi">SpaceX CEO Elon Musk Applauds Company President Gwynne Shotwell After She Envisions Complete Worldwide Internet Connectivity In 5 Years</a>
With support from NAVWAR's Digital Engineering office and PEO Digital and Enterprise Services, SEA2 was fast-tracked and achieved cybersecurity certification. This has significantly improved the quality of life and work for sailors aboard the USS Abraham Lincoln.
"Sailors' morale and work output have been bolstered by the fast, stable, and secure connection it provides. A new Internet culture has also been developed, centered around the safe and healthy consumption of Wi-Fi aboard an active warship," the report said.
"This past February, during the testing phase of SEA2, a Super Bowl watch party was held live, which had never been done before."
Why It Matters: The deployment of Starlink on the USS Abraham Lincoln is part of a broader trend of expanding high-speed internet connectivity through <a href="https://www.benzinga.com/news/24/07/39570320/after-win-win-rollout-on-carnivals-cruise-fleet-spacexs-starlink-is-supposedly-enabling-connectivity">SpaceX&#8217;s Starlink</a> network.
Starlink has also <a href="https://www.benzinga.com/news/24/07/39570320/after-win-win-rollout-on-carnivals-cruise-fleet-spacexs-starlink-is-supposedly-enabling-connectivity">enhanced connectivity</a> on Carnival Corp. cruise ships and even Antarctic research vessels, significantly improving communication for those in remote locations.
In July, SpaceX announced that Starlink now <a href="https://www.benzinga.com/news/24/07/39949583/spacexs-starlink-now-provides-internet-connectivity-to-over-1-000-aircraft-around-the-world-allowing">provides internet connectivity</a> to over 1,000 aircraft globally, enabling passengers to make video calls and play online games during flights.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40242737/california-governor-gavin-newsom-bent-over-backwards-to-help-tesla-says-former-executive-if-one-find">California Governor Gavin Newsom ‘Bent Over Backwards' To Help Tesla, Says Former Executive</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: SpaceX

US Navy Installs Starlink On USS Abraham Lincoln Aircraft Carrier, Currently In The Middle East: 'A Super Bowl Watch Party Was Held Live, Which Had Never Been Done Before'

Former bank CEO from Kansas,&nbsp;Shan Hanes, has been&nbsp;sentenced to 24 years in&nbsp;prison for his involvement in a $47.1 million crypto scam related to pig butchering.
What Happened: Hanes, the former CEO of Heartland Tri-State Bank, was convicted of embezzlement. He diverted the bank&#8217;s funds into crypto accounts controlled by scammers, leading to the bank&#8217;s collapse, <a href="https://www.nbcnews.com/business/business-news/cryptocurrency-pig-butchering-scam-wrecks-kansas-bank-sends-ex-ceo-pri-rcna167642">reported</a> NBC News.
Hanes was caught up in a pig butchering scam, where he purchased crypto to allegedly unlock returns on his investments, which he never received.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40498543/amid-heated-trump-harris-battle-crypto-industry-pours-unprecedented-119m-into-2024-electio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Heated Trump-Harris Battle, Crypto Industry Pours &#8216;Unprecedented&#8217; $119M Into 2024 Elections &#8211; Here Are The Biggest Donors</a>
Between May and June 2023, Hanes made&nbsp;11 wire transfers using the&nbsp;stolen bank&nbsp;funds. He also embezzled money&nbsp;from a local church, an&nbsp;investment club, and his daughter&#8217;s&nbsp;college savings account. 
The Heartland&nbsp;Tri-State Bank, insured by the FDIC,&nbsp;was one of the five&nbsp;banks to close in 2023.
US Attorney&nbsp;Kate E. Brubacher&nbsp;commented, &#8220;Hanes&#8217; greed knew no bounds. He&nbsp;trespassed his professional obligations, his&nbsp;personal relationships, and federal law.&#8221;
"Not only did Shan Hanes betray Heartland Bank and its investors, but his illegal schemes also jeopardized confidence in financial institutions," Brubacher said.
Why It Matters: Pig butchering scams have seen a significant rise in recent years, with victims worldwide losing over $75 billion, <a href="https://time.com/6836703/pig-butchering-scam-victim-loss-money-study-crypto/">reported</a> Time in February, citing a study.
These scams typically involve the scammer forming a relationship with the victim, often romantic, before enticing&nbsp;them into making a series&nbsp;of crypto investments.
The sentencing of Hanes comes amidst a <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40321230/massive-650m-crypto-fraud-scheme-uncovered-sec-files-charges">surge in crypto scams</a>. Earlier in August, the&nbsp;Securities and Exchange Commission (SEC)&nbsp;filed charges against NovaTech Ltd. for defrauding over 200,000 investors worldwide of more than $650 million in crypto assets. 
Previously, the&nbsp;Federal Bureau of Investigation (FBI)&nbsp;also issued an alert on the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40132699/fbi-issues-alert-on-crypto-exchange-impersonation-scams">rising trend of scammers</a> impersonating cryptocurrency exchange employees to defraud unsuspecting victims. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40494692/bitcoin-breaks-61-000-ethereum-dogecoin-follow-up-as-kamala-harris-reportedly-supports-pol?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Breaks $61,000, Ethereum, Dogecoin Follow Up, As Kamala Harris Reportedly &#8216;Supports Policies To Expand Crypto Industry&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Open Clipart

Legal

Former Bank Exec Gets 24 Years In Prison After Stealing $47M For A Crypto Fraud To 'Unlock' Returns In A 'Pig Butchering' Scam

Crypto strategist Michaël van de Poppe predicts Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is poised for new all-time highs if it surpasses a crucial resistance level.
What Happened: Van de Poppe, addressing his 723,200 followers on social media platform X, stated that if Bitcoin rises 2.25% from its current value, it could achieve a new all-time high by early September.
He emphasized, &#8220;Bitcoin bouncing upwards, onto the final resistance at $62,000. If that breaks, then it's close to getting a new ATH in September.&#8221;
Bitcoin is currently trading at $64,028, up by 4.90% in the last 24 hours, surging past the level highlighted by the analyst.
Van de Poppe also noted the importance of ETF data inflows, which could positively impact Bitcoin&#8217;s price movement.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It feels great to have the market breaking out.<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bouncing upwards, onto the final resistance at $62K. If that breaks, then it&#39;s close to getting a new ATH in September. Expecting a lot of positive inflow in the data on the ETF tomorrow. <a href="https://t.co/Etr1LJIA1b">pic.twitter.com/Etr1LJIA1b</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1826348717328531603?ref_src=twsrc%5Etfw">August 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Additionally, the analyst highlighted that Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) could signal an uptrend for the altcoin market if it flips a key resistance level into support.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40521396/argentinas-pro-bitcoin-president-javier-mileis-fiscal-plans-hit-a-roadblock-as-senate-appr">Argentina&#8217;s Pro-Bitcoin President Javier Milei&#8217;s Fiscal Plans Hit A Roadblock As Senate Approves Pension Spending Increase</a>
"Ethereum looks excellent, but it needs to continue climbing upwards. Crucial level to break: $2,700. There is nothing between $2,700 and $3,100, likely triggering a big upward run on altcoins," he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> looks excellent, but it needs to continue climbing upwards. Crucial level to break: $2,700. There is nothing between $2,700 and $3,100, likely triggering a big upward run on <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a>. <a href="https://t.co/oZ99vN8soU">pic.twitter.com/oZ99vN8soU</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1826597691893448735?ref_src=twsrc%5Etfw">August 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The prediction by Van de Poppe comes amid a series of bullish forecasts for Bitcoin. Real Vision analyst Jamie Coutts suggested that <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429793/bitcoin-could-soar-200-this-cycle-if-this-happens">Bitcoin might witness a 200% surge</a> in its current cycle, potentially reaching a six-figure valuation.
Earlier, crypto analyst Kevin Svenson predicted that Bitcoin could see an upsurge of up to 86%, potentially <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40301048/crypto-analyst-says-bitcoin-could-hit-100-000-an-86-surge">hitting the $100,000 mark</a>. Svenson noted that Bitcoin has formed a bullish divergence pattern on the daily chart.
Van de Poppe&#8217;s latest prediction aligns with his earlier statements, where he projected that Bitcoin will <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40298886/bitcoin-poised-for-new-all-time-high-predicts-top-crypto-analyst-while-saying-insti">reach a new all-time high</a> in the upcoming months. He stated, &#8220;If this closes above $57,000, then it&#8217;s very likely that we&#8217;ve seen the low of this correction.&#8221;
Price Action: At the time of writing, Bitcoin was trading at $64,028, up by 4.90% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40523442/puppy-kitty-love-fest-floki-all-set-to-invest-in-feline-themed-simons-cat-token-cat-shoots">Puppy-Kitty Love Fest: Floki All Set To Invest In Feline-Themed Simon&#8217;s Cat Token — CAT Shoots Up 72%</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image generated using Dall-E

$ETH

Bitcoin Could Hit New All-Time High In Next Two Weeks If This Key Level Breaks, Says Top Analyst

After <a href="https://www.benzinga.com/general/politics/24/08/40535286/rfk-jr-suspends-2024-presidential-campaign-endorses-trump-to-block-democrats-from-white-house">securing the endorsement</a> of Robert F. Kennedy Jr. for his 2024 campaign, former President Donald Trump welcomed him at a campaign rally in Arizona.
What Happened: On Friday, Trump introduced Kennedy to his supporters in Glendale, Arizona, lauding him as an &#8220;incredible champion&#8221; with who he shares many values, <a href="https://thehill.com/homenews/campaign/4845327-trump-rfk-jr-arizona-rally/">reported</a> The Hill.
The crowd responded with enthusiastic applause and chants of &#8220;Bobby!&#8221; The former President also said, &#8220;I think he's [Kennedy] going to have a huge influence on this campaign.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/08/40482862/former-tesla-exec-says-harris-not-trump-will-be-far-better-for-ev-giants-long-term-success-still-tru?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Tesla Exec Says Harris, Not Trump, Will Be &#8216;Far Better&#8217; For EV Giant&#8217;s Long-Term Success: &#8216;…Still Trust Kamala More Even On The Issues Where I&#8217;d Generally Prefer A Republican&#8217;</a>
Trump acknowledged Kennedy&#8217;s presidential campaign, stating, &#8220;For&nbsp;the past 16 months, Bobby&nbsp;has run an extraordinary campaign&nbsp;for president of the United&nbsp;States.&#8221;
During the rally, Trump also said he would establish a commission on assassination&nbsp;attempts, focusing on releasing remaining documents related to&nbsp;the John F. Kennedy assassination&nbsp;attempt. 
He also pledged to create a panel&nbsp;to study chronic diseases like&nbsp;autism, obesity, and autoimmune disorders, aligning with Kennedy&#8217;s stated priorities.
Why It Matters: Previously, it was reported that Kennedy&#8217;s endorsement of Trump was contingent on the possibility of securing a <a href="https://www.benzinga.com/news/24/08/40497943/robert-kennedy-jr-looking-for-a-trump-administration-gig-in-return-for-supporting-ex-president-says">role in Trump's administration</a> if he is elected. 
Larry Sharpe, outreach director with the Super PAC American Values 2024, stated that Trump had earlier expressed openness to Kennedy playing a role in his administration.
However, Kennedy&#8217;s endorsement of Trump has not been well-received by all. Kennedy&#8217;s siblings condemned his endorsement of Trump as a &#8220;betrayal&#8221; of their family values, <a href="https://www.benzinga.com/news/24/08/40540001/kennedy-family-members-condemn-rfk-jr-s-trump-endorsement-as-betrayal-throw-their-weight-behind-harr">throwing their support</a> behind Vice President Kamala Harris and her running mate Tim Walz instead.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Trump Welcomes RFK Jr. At Arizona Rally Following Endorsement, Calls Him An 'Incredible Champion:' 'I Think He's Going To Have A Huge Influence On This Campaign'

Tesla Inc. and SpaceX CEO Elon Musk on Friday revealed that his rocket company has made substantial <a href="https://www.benzinga.com/news/24/05/39079925/elon-musk-insists-spacex-isnt-killing-competition-with-low-pricing-hopes-rivals-focus-on-rocket-reus">progress in reusability</a>, a goal he set 13 years ago.
What Happened: Musk responded to a fan page post on the platform, which shared a video of him from 13 years ago discussing the ambitious goal of creating a&nbsp;fully and rapidly reusable rocket.
The tech mogul responded to the video saying that SpaceX&#8217;s Falcon 9 rocket is now approximately 75% reusable, with several days needed between flights.
Moreover, the company&#8217;s Starship is&nbsp;designed to be 100% reusable&nbsp;and could potentially&nbsp;be &#8220;ready to refly within&nbsp;an hour of landing.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/08/40479844/rivians-head-of-manufacturing-tim-fallon-joins-european-automaker-stellantis?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Rivian&#8217;s Head Of Manufacturing Tim Fallon Joins European Automaker Stellantis</a>
&#8220;This is the key to&nbsp;becoming a multiplanet civilization,&#8221; he stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Falcon 9 is now ~75% reusable and requires several days between flights. Starship is designed to be 100% reusable and ultimately be ready to refly within an hour of landing. This is the key to becoming a multiplanet civilization. <a href="https://t.co/OI8aJV9uB6">https://t.co/OI8aJV9uB6</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827012570357612835?ref_src=twsrc%5Etfw">August 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Earlier this month, Musk <a href="https://www.benzinga.com/news/24/08/40305893/starship-fifth-flight-delayed-spacex-ceo-elon-musk-gives-fresh-august-end-timeline">revealed a delay in the fifth flight test</a> of the Starship launch vehicle, pushing the timeline to the end of the month. This marked a significant delay from his previous timeline, which was previously pegged for Aug. 2.
Musk&#8217;s SpaceX has also been facing <a href="https://www.benzinga.com/news/24/08/40331365/elon-musks-spacex-refutes-allegations-of-water-pollution-due-to-starship-facility-in-texas-factually">allegations of water pollution</a> due to its Starship facility in Texas. The company has refuted these claims, stating that the reports were factually incorrect.
Last month, SpaceX denied reports claiming that its operations in Boca Chica posed a threat to the piping plover population. Musk has downplayed the environmental concerns, referring to them as <a href="https://www.benzinga.com/news/24/07/39704560/spacex-ceo-elon-musk-mocks-reports-of-wildlife-damage-owing-to-starship-launches-will-refrain-from-h">merely a few destroyed bird nests</a>.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40427999/elon-musks-biographer-cites-unnamed-ai-expert-to-note-that-tesla-has-massive-edge-on-bridge-between?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Biographer Cites Unnamed AI Expert To Note That Tesla Has &#8216;Massive Edge On Bridge Between AI And Physical World&#8217; With Its Factories</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SPACE

Elon Musk Promised To Make Fully Reusable Rockets 13 Years Ago. Today, SpaceX's Starship Is Designed To Be 100% Reusable, Potentially Ready To Fly Again Within An Hour

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is all set to launch the <a href="https://www.benzinga.com/topic/iphone-16">iPhone 16</a> alongside the new Apple Watch and AirPods at an event on September 10, days after a <a href="https://www.benzinga.com/news/24/08/40461257/apple-iphone-16-launch-date-reportedly-set-for-sept-10-heres-everything-we-know-about-cupertinos-upc">leaked invite</a> pointed at the possibility.
What Happened: The tech giant plans to reveal the latest iPhones, watches, and AirPods, sources familiar with the matter <a href="https://www.bloomberg.com/news/articles/2024-08-23/when-is-apple-announcing-the-iphone-16-apple-planning-event-on-sept-10-2024">told</a> Bloomberg. The event will take place on a Tuesday, and the new iPhones are expected to hit the market on September 20.
The launch is crucial for the company, which has faced sluggish sales in recent quarters. The new iPhone 16 is anticipated to help boost revenue, with some sales recorded in the current fiscal quarter. Analysts predict a 7% revenue increase to $128.4 billion in the holiday quarter.
The iPhone 16 will feature larger screens on Pro models and new camera functionalities. Apple is also introducing a suite of AI tools named <a href="https://www.benzinga.com/topic/apple-intelligence">Apple Intelligence</a> that it showed off at the Worldwide Developers Conference (WWDC) held in June.
See Also: <a href="https://www.benzinga.com/news/24/08/40461257/apple-iphone-16-launch-date-reportedly-set-for-sept-10-heres-everything-we-know-about-cupertinos-upc">Everything We Know About Apple iPhone 16</a>
In addition to the iPhone, Apple will launch the Apple Watch Series 10 with larger screens and thinner designs. The AirPods lineup will see new low-end and mid-tier versions, with noise cancellation available on mid-level models for the first time.
Apple is also preparing to transition its Macs to M4 processors later this year. Testing of four new Mac models is underway to ensure compatibility with third-party applications.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The launch of the iPhone 16 has been eagerly anticipated, with leaks and rumors circulating for months.
However, the integration of <a href="https://www.benzinga.com/news/24/07/40003714/first-iphone-16-models-may-not-have-apple-intelligence-features-as-cupertino-delays-ai-integration-f">Apple Intelligence</a> may be delayed. Initial iPhone 16 models might not include these AI features, requiring a software update weeks after the initial release of iOS 18 and iPadOS 18.
Moreover, the iPhone 16 Pro is expected to <a href="https://www.benzinga.com/news/24/06/39129016/iphone-16-destined-to-have-the-worlds-thinest-bezels-new-leak-reveals-it-could-outshine-current-reco">feature the world&#8217;s thinnest bezels</a>, surpassing the current record held by the Samsung Galaxy S24.
Check out more of&nbsp;Benzinga's&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40391576/mark-zuckerberg-explains-why-facebook-beat-google-microsoft-and-yahoo-who-were-fumbling-around-we-we?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Explains Why Facebook Beat Google, Microsoft, And Yahoo Who Were ‘Fumbling Around'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

AAPL

Apple To Unveil iPhone 16, Watches, And AirPods At September 10 Event: Report

Andrej Karpathy, the former Tesla autopilot head and an ex-OpenAI researcher, has voiced his preference for the rapidly evolving programming landscape assisted by AI, over traditional &#8220;unassisted&#8221; coding.
What Happened: On Friday, Karpathy said on X, &#8220;Programming is changing so fast&#8230; I&#8217;m trying VS Code Cursor + Sonnet 3.5 instead of GitHub Copilot again and I think it&#8217;s now a net win.&#8221;
He elaborated that his programming work now primarily involves writing English, reviewing and editing generated diffs,&nbsp;and doing a bit of&nbsp;&#8220;half-coding.&#8221; 
This process includes writing the initial part of the code, commenting it for the large language model (LLM) to understand the plan, and then cycling through iterations.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/08/40498151/apple-app-store-team-sees-major-shakeup-as-business-head-matt-fischer-heads-for-the-exit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple App Store Team Sees Major Shakeup As Business Head Matt Fischer Heads For The Exit</a>
While Karpathy admitted that he is still acclimatizing to all the features of this new programming approach, he stated, &#8220;I basically can&#8217;t imagine going back to &#8216;unassisted&#8217; coding at this point, which was the only possibility just ~3 years ago.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Programming is changing so fast&#8230; I&#39;m trying VS Code Cursor + Sonnet 3.5 instead of GitHub Copilot again and I think it&#39;s now a net win. Just empirically, over the last few days most of my &quot;programming&quot; is now writing English (prompting and then reviewing and editing the…
&mdash; Andrej Karpathy (@karpathy) <a href="https://twitter.com/karpathy/status/1827143768459637073?ref_src=twsrc%5Etfw">August 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Karpathy&#8217;s comments reflect a broader trend in the tech industry, where AI is increasingly being used to automate coding tasks. 
Earlier this month,&nbsp;Amazon Web Services CEO, Matt Garman,&nbsp;predicted&nbsp;that <a href="https://www.benzinga.com/news/24/08/40478216/amazon-web-services-ceo-predicts-ai-could-soon-dominate-coding-being-a-developer-in-2025-may-be-diff">AI could soon dominate coding</a>, stating, &#8220;It's possible that most developers are not coding&#8221; in the near future. 
This prediction <a href="https://www.benzinga.com/markets/equities/24/08/40524790/amazon-ceo-andy-jassy-says-companys-ai-assistant-has-saved-260m-and-4-5k-developer-years-of-work">seems to be coming true</a>. According to Amazon CEO Andy Jassy, their AI assistant, Amazon Q, has significantly cut down software upgrade times, saving thousands of work hours. The average time to upgrade an application to Java 17 dropped from 50 developer days to just a few hours, thanks to Amazon Q, Jassy revealed.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40522136/amazon-delivery-drivers-now-classified-as-employees-by-federal-regulator-union-says-won-a-monumental?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Delivery Drivers Now Classified As Employees By Federal Regulator: Union Says &#8216;Won A Monumental Determination&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Former Tesla Autopilot Head And Ex-OpenAI Researcher Says 'Programming Is Changing So Fast' That He Cannot Think Of Going Back To Coding Without AI

Robert F. Kennedy Jr.&#8217;s <a href="https://www.benzinga.com/general/politics/24/08/40535286/rfk-jr-suspends-2024-presidential-campaign-endorses-trump-to-block-democrats-from-white-house">endorsement of former President</a> Donald Trump has caused a stir within his family who view this as a &#8220;betrayal&#8221; of their family values.
What Happened: RFK Jr., an independent presidential candidate, announced his endorsement of Trump on Friday. This move has been met with strong disapproval from his siblings.
The statement shared by Kerry Kennedy and signed by her four other siblings, read, &#8220;We believe in Harris and Walz. Our brother Bobby's decision to endorse Trump today is a betrayal of the values that our father and our family hold most dear.&#8221;
&#8220;It is a sad ending to a sad story,&#8221; the statement added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am sharing a personal statement that my family and I have made in response to my brother's announcement. <a href="https://t.co/j7vTTabNYZ">pic.twitter.com/j7vTTabNYZ</a>
&mdash; Kerry Kennedy (@KerryKennedyRFK) <a href="https://twitter.com/KerryKennedyRFK/status/1827061350452887816?ref_src=twsrc%5Etfw">August 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
During his Friday address, Kennedy&nbsp;criticized&nbsp;Democrats and the media for&nbsp;&#8220;not giving him a fair shake.&#8221; 
Kennedy also stated that he has already removed, and will continue to remove, his name from ballots in swing states or states where he believes his presence could harm the Republican Party&#8217;s chances of winning. 
However, in red states, Kennedy will stay on the ballot, allowing voters to cast their votes for him.
See Also: <a href="https://www.benzinga.com/general/politics/24/08/40475733/trump-in-trouble-vice-president-kamala-harris-hits-record-support-young-voter-lead-in-2024-elect?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump In Trouble? Vice President Kamala Harris Hits Record Support, Young Voter Lead In 2024 Election Poll</a>
Why It Matters: RFK Jr.&#8217;s decision to suspend his campaign and endorse Trump comes after a series of events that have shaped his political journey. 
Last month, it was reported that despite a $2.5 million boost from his running mate, Nicole Shanahan, Kennedy&#8217;s campaign <a href="https://www.benzinga.com/markets/equities/24/07/39871966/kennedys-campaign-still-in-the-red-despite-running-mate-shanahans-2-5m-boost-will-he-exit-the-pr">was still in deficit</a>.
Earlier this month, Kennedy was reportedly <a href="https://www.benzinga.com/news/24/08/40497943/robert-kennedy-jr-looking-for-a-trump-administration-gig-in-return-for-supporting-ex-president-says">seeking a role in Trump&#8217;s administration</a> in return for his support. 
This was followed by his announcement to suspend his campaign, citing his inability to win the 2024 election and the potential of his continued presence resulting in a Democratic Party victory.
Meanwhile, Vice President Kamala Harris&#8217; favorability has surged, indicating a <a href="https://www.benzinga.com/news/24/08/40525794/trump-vs-harris-new-poll-shows-vice-presidents-favorability-surges-by-double-digits-as-rivals-slips">shift in the political landscape</a>.
According to Gallup&#8217;s August poll, Harris&#8217; favorability rating increased by 13 percentage points since June, reaching 47%, while her job approval rating also rose by seven points from December 2023 to 47%.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Kennedy Family Members Condemn RFK Jr.'s Trump Endorsement As 'Betrayal,' Throw Their Weight Behind Harris And Walz: 'Sad Ending To A Sad Story'

OBLG

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

BCAN

Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) has outperformed the market over the past 10 years by 6.01% on an annualized basis producing an average annual return of 16.88%. Currently, Lowe's Companies has a market capitalization of $141.97 billion. 
Buying $100 In LOW: If an investor had bought $100 of LOW stock 10 years ago, it would be worth $476.14 today based on a price of $249.95 for LOW at the time of writing.
<h3>Lowe's Companies's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724448614_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 10 Years Ago Would Be Worth $500 Today

Monolithic Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>) has outperformed the market over the past 5 years by 30.51% on an annualized basis producing an average annual return of 44.91%. Currently, Monolithic Power Systems has a market capitalization of $45.57 billion. 
Buying $1000 In MPWR: If an investor had bought $1000 of MPWR stock 5 years ago, it would be worth $6,302.01 today based on a price of $936.29 for MPWR at the time of writing.
<h3>Monolithic Power Systems's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724446828_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.

MPWR

$1000 Invested In This Stock 5 Years Ago Would Be Worth $6,300 Today

Amphenol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>) has outperformed the market over the past 20 years by 11.15% on an annualized basis producing an average annual return of 19.6%. Currently, Amphenol has a market capitalization of $80.99 billion. 
Buying $100 In APH: If an investor had bought $100 of APH stock 20 years ago, it would be worth $3,571.76 today based on a price of $67.25 for APH at the time of writing.
<h3>Amphenol's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724446824_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 Amphenol 20 Years Ago Would Be Worth This Much Today

In the current market session, Oshkosh Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>) share price is at $107.00, after a 1.59% spike. Moreover, over the past month, the stock fell by 7.77%, but in the past year, increased by 7.00%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1724445909_0.png" alt="Past Year Chart" />

<h3>How Does Oshkosh P/E Compare to Other Companies?</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of the 15.84 in the Machinery industry, Oshkosh Inc. has a lower P/E ratio of 10.19. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1724445909_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

A Look Into Oshkosh Inc's Price Over Earnings

Canaccord Genuity analyst William Plovanic maintained a Hold rating on Shockwave Medical (SWAV – Research Report) today and set a price target of $...

Hold Rating Justified for Shockwave Medical Amidst Strong Performance and Pending Johnson & Johnson Acquisition

Shockwave Medical (SWAV) has disclosed a new risk, in the Corporate Activity and Growth category. Shockwave Medical faces significant business risk...

Shockwave Medical's High Stakes: The Cost of a Collapsed Johnson & Johnson Merger

Analyst Larry Biegelsen from Wells Fargo maintained a Hold rating on Shockwave Medical (SWAV – Research Report) and increased the price target to $...

Maintaining Hold: Shockwave Medical's Solid Performance Tempered by Market Valuation

Shockwave Medical: A Look Into Q1 Financials And Value To Johnson & Johnson Investors

Shockwave Medical gains after HSR waiting period for sale to J&J expires

Harding Loevner Global Small Companies Equity Composite Q1 2024 Report

Sarepta Therapeutics to replace Shockwave Medical in the S&P MidCap 400

J&J completes acquisition of cardiac device maker Shockwave

An update from Shockwave Medical (SWAV) is now available. The recent merger of a company has triggered significant changes for note holders and sto...

Shockwave Medical's Structural Shift Following Major Merger

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The financial media does its best to keep you informed about what&rsquo;s happening in the market. However, this has the effect of giving significant attention to a handful of leaders or laggards. That creates an opportunity for investors who have the patience to look for must-own overlooked stocks. &nbsp;



Overlooked stocks are not necessarily underperforming the market. In some cases, these stocks simply are slow and steady at a time when investors want to find the newest and brightest shiny object. &nbsp;



However, not every shiny object is Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>). And the more light that starts shining on a high-profile stock, the more likely it is that the stock could move sharply lower on the slightest bit of bad news. &nbsp;



Another common misconception about overlooked stocks is that they come with a cheap price tag. This is also not necessarily true. In fact, sometimes a stock gets overlooked because it seems too expensive for retail investors. &nbsp;



In the end, must-buy overlooked stocks come down to value more than price. Because value always wins out over time. Here are seven stocks that investors are overlooking now but may shift back towards when market conditions change. &nbsp;



<h2>AbbVie (ABBV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/01/abbv1600-300x169.png" alt="Closeup of AbbVie (ABBV) building corporate office, an American biopharmaceutical company with its headquarters in Lake Bluff, Illinois, USA"><div>Source: Valeriya Zankovych / Shutterstock.com</div></div>AbbVie (NYSE:<a href="https://investorplace.com/stock-quotes/abbv-stock-quote/">ABBV</a>) is up 13.4% in the last 12 months but is down 11% in the last three months. The biopharmaceutical giant is being overlooked for a couple of reasons. First, with a price-to-earnings (P/E) ratio of around 40x, it&rsquo;s hardly a cheap stock. Second, investors want to see how the company&rsquo;s revenue and earnings will hold up now that its flagship Humira drug faces biosimilar competition in the U.S. and Europe.&nbsp;



When looking at the P/E ratio it&rsquo;s helpful to note that AbbVie has a forward P/E of around 13x earnings. That&rsquo;s much more attractive. &nbsp;



Then there&rsquo;s the Humira question. There&rsquo;s no doubt that the company is seeing pressure from competitors. In its April earnings report, AbbVie reported a <a href="https://investors.abbvie.com/static-files/af510304-0bc1-4781-9090-b6c4a9be5edb" target="_blank">39% decline in Humira revenue</a> in the United States. &nbsp;



However, AbbVie also <a href="https://investorplace.com/2024/05/7-safe-haven-stocks-to-weather-any-storm/" target="_blank">reported strong growth from two of its newer drugs</a>: Skyrizi and Rinvoq. These drugs are integral to the company&rsquo;s plans for replacing the lost Humira revenue. AbbVie also has a deep pipeline with <a href="https://www.abbvie.com/science/pipeline.html" target="_blank">50 drugs in mid- and late-stage development</a>. &nbsp;



Since the company&rsquo;s earnings report, analysts have assigned a <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NYSE%3AABBV&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NYSE%3AABBV" target="_blank">consensus price target of $182.90</a>. That&rsquo;s a 17% gain. Plus, AbbVie is a dividend king that not only has increased its dividend for 52 consecutive years, but the stock has an attractive yield of 3.98%. &nbsp;



<h2>Johnson &amp; Johnson (JNJ)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/jnj1600b-300x169.jpg" alt="jnj healthcare stocks"><div>Source: Raihana Asral / Shutterstock.com</div></div>Johnson &amp; Johnson (NYSE:<a href="https://investorplace.com/stock-quotes/jnj-stock-quote/">JNJ</a>) is another biopharmaceutical company on this list of must-own overlooked stocks. Unlike AbbVie, investors can&rsquo;t say that JNJ stock is expensive. It has a current P/E of 9x and a forward P/E of 13x. &nbsp;



Nevertheless, valuation remains an issue as investors are trying to price JNJ stock without its consumer products division that it spun off as Kenvue (NYSE:<a href="https://investorplace.com/stock-quotes/kvue-stock-quote/">KVUE</a>) in 2023. The company is also working to resolve its long-running lawsuits stemming from its talc powder. In January, AbbVie announced it was moving forward on a <a href="https://www.cnn.com/2024/05/01/business/j-and-j-talc-cancer-lawsuits-settlement/index.html" target="_blank">$6.475 billion proposed settlement</a> of tens of thousands of lawsuits. However, there <a href="https://www.foxbusiness.com/markets/johnson-johnson-sued-cancer-victims-fraudulent-bankruptcies" target="_blank">may still be some work to do</a>. &nbsp;



The past shouldn&rsquo;t be overlooked. But the bullish case for JNJ stock is about the future. And its acquisition of Shockwave Medical (NASDAQ:<a href="https://investorplace.com/stock-quotes/swav-stock-quote/">SWAV</a>) is a key part of that. The <a href="https://investorplace.com/2024/04/wall-street-favorites-3-dividend-stocks-with-strong-buy-ratings-for-april-2024/" target="_blank">$13.1 billion acquisition</a> will bring Shockwave&rsquo;s first-to-market intravascular lithotripsy technology (ILT) under Johnson &amp; Johnson&rsquo;s MedTech division. &nbsp;



Once this acquisition becomes accretive to JNJ&rsquo;s top and bottom lines, JNJ stock will look extremely attractive for more than just its dividend which has a 3.48% yield. And with 62 years of consecutive dividend increases, Johnson &amp; Johnson is another dividend king on this list. &nbsp;



<h2>PepsiCo (PEP)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/pep-pepsico-1600-300x169.png" alt="Pepsi (PEP) Factory in Samara, Russia. Pepsi logo on a blue warehouse."><div>Source: FotograFFF / Shutterstock</div></div>PepsiCo (NASDAQ:<a href="https://investorplace.com/stock-quotes/pep-stock-quote/">PEP</a>) is the third and final dividend king on this list of must-own overlooked stocks. The consumer staples giant has been largely able to <a href="https://investorplace.com/2024/05/7-reliable-blue-chip-stocks-that-cannot-miss/" target="_blank">pass along some of its higher producer costs</a>. But growth is slowing, and there is concern that consumer spending is slowing as well. Just as Pepsi benefits from both beverage and snack food sales when consumers trade up, it can suffer when consumers trade down. &nbsp;



This pessimism is reflected in PEP stock, which is essentially flat in 2024 and down about 5% in the last 12 months. That&rsquo;s not a massive dip to buy, but the stock is trading at around $170 which has served as a level of support and resistance in the last two years. &nbsp;



History shows that buying dips, no matter how small, in PEP stock is a solid strategy. One reason has to do with the company&rsquo;s previously mentioned dividend which yields 2.96% as of this writing and has been growing for 53 consecutive years. &nbsp;



<h2>Sofi Technologies (SOFI)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/sofi1600-1-300x169.png" alt="SoFi Technologies, Inc logo with stock market chart background. is an American online personal finance company and online bank."><div>Source: Poetra.RH / Shutterstock.com</div></div>Sofi Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/sofi-stock-quote/">SOFI</a>) falls under the category of &ldquo;yeah, but&rdquo; stocks. Okay, I invented the category, but the premise is this. Sofi has largely delivered what it has said it would do. It was an online lender primarily known for providing student loans. Yeah, but it wasn&rsquo;t a real bank. Then it got its&nbsp;bank charter. Yeah, but it wasn&rsquo;t profitable. Now it&rsquo;s delivered two straight quarters of positive adjusted EPS. &nbsp;



Still the stock can&rsquo;t seem to get out of the snares of short sellers. A considerable 18% of the SOFI stock float is being shorted. And with only 38% of the shares owned by institutions, it&rsquo;s been a tough hold. &nbsp;



SOFI stock is bouncing around $6.80. The good news is this has been a solid level of support. The bad news is that the company continues to revisit this level. The key will come from future growth, and in that regard being an internet-only bank <a href="https://investorplace.com/2024/05/secret-stocks-with-sizzle-3-low-profile-picks-packing-high-profit-potential/" target="_blank">lowers the company&rsquo;s customer acquisition costs</a>. &nbsp;



<h2>Pfizer (PFE)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/pfe-stock-2-300x169.jpg" alt="blue Pfizer logo on the windows of a corporate building PFR stock"><div>Source: photobyphm / Shutterstock.com</div></div>Pfizer (NYSE:<a href="https://investorplace.com/stock-quotes/pfe-stock-quote/">PFE</a>) is down 24% in the last 12 months and nearly 50% since its peak of near $60 in November 2021. The rise and fall of PFE stock was entirely predictable. The company was first-to-market with a vaccine for Covid-19. And it enjoyed the benefits of that position in its revenue and earnings. &nbsp;



However, as demand for the company&rsquo;s Covid-19 products wanes, so does the stock which is facing difficult comparisons. That said, Pfizer is being overlooked for many reasons, some of which have nothing to do with the intrinsic value of the stock. &nbsp;



That&rsquo;s part of the buying thesis. The mRNA technology that was used in the Covid-19 vaccine is already being used to develop other vaccines. The company is also making strides in oncology as well as areas such as <a href="https://www.pfizer.com/science" target="_blank">gene therapy and precision medicine</a>. And Pfizer has the balance sheet to get these products to the finish line whether it goes alone or through acquisition. &nbsp;



Analysts have a consensus Hold rating on PFE stock, but the price target is 37% higher. That&rsquo;s a discrepancy that makes it tempting to start a position. That&rsquo;s particularly true because, while you wait, you&rsquo;re getting a dividend with a 5.97% yield. &nbsp;



<h2>Enphase Energy (ENPH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/enph1600-300x169.png" alt="Smartphone with logo of American company company Enphase Energy Inc. (ENPH) on screen in front of business website. Focus on left of phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div><a href="https://investorplace.com/industries/energy/renewable-energy/solar/">Solar stocks</a> have been hit and miss for investors. There are stocks like First Solar (NASDAQ:<a href="https://investorplace.com/stock-quotes/fslr-stock-quote/">FSLR</a>) that are ripping higher. But a company like Enphase Energy (NYSE:<a href="https://investorplace.com/stock-quotes/enph-stock-quote/">ENPH</a>), which was a darling of the solar sector in 2021 and 2022 has been having a rough time. &nbsp;



The company serves a largely residential audience and has been faced with declining revenue which has caused earnings to turn negative. Simply put, Enphase desperately needs a rate cut that will stimulate home buying and consumer investment in solar technology. &nbsp;



That may have to wait until 2025, but here&rsquo;s why you may want to put Enphase on a list of must-own overlooked stocks. Analysts have a consensus price target of $127.12. That&rsquo;s 2% lower than the price as of this writing. But <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NASDAQ%3AENPH&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NASDAQ%3AENPH" target="_blank">22 out of 42 analysts give ENPH stock a Strong Buy or Buy rating</a>. That suggests there may be a bigger dip coming for ENPH stock, but that would be a good time to take a position. &nbsp;



<h2>Norwegian Cruise Line (NCLH)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/nclh-1600-1-300x169.jpg" alt="Norwegian Cruise Line ship arriving at a port. NCLH stock."><div>Source: Ian_Stewart / Shutterstock</div></div>Cruise line stocks were a no-brainer long-term buy in 2020 and 2021. The industry was decimated by the global pandemic. But the smart money knew the industry would come back as it has. However, Norwegian Cruise Line (NYSE:<a href="https://investorplace.com/stock-quotes/nclh-stock-quote/">NCLH</a>) has been largely ignored. Investors have a high bar and little patience. All it took was a slight miss on the top line to spook investors and turn NCLH stock negative for the year.&nbsp;



But this could be the stock&rsquo;s time to shine. Analysts are lining up behind Norwegian on expectations of earnings growth that could reach 30%, not just this year but for each of the next three years. That would help the cruise line retire a significant chunk of the $14 billion net debt load it&rsquo;s still carrying. &nbsp;



To deliver on those projections, it seems like the company is counting on younger travelers. The company recently cited millennial and Gen-Z passengers as being its <a href="https://www.nbclosangeles.com/news/business/money-report/norwegian-cruise-line-ceo-says-millennials-and-gen-z-are-the-fastest-growing-segment/3416765/" target="_blank">fastest growing demographic</a>. That could be a double-edged sword if the economy worsens. However, over time these are the passengers that will have growing income to spend on experiences. &nbsp;



On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"> Publishing Guidelines.</a>&nbsp;
<div>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT802110">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT766411">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
The post <a href="https://investorplace.com/2024/06/7-must-own-overlooked-stocks-that-can-work-in-any-portfolio/">7 Overlooked Stocks That Belong in Every Portfolio </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Overlooked Stocks That Belong in Every Portfolio

ABBV

ATLCY

ATLFF

ATLKY

ATLPF

CYBR

DAVA

ENPH

FSLR

KVUE

MSSMY

MSUXF

NEMKY

NEMTF

PFFVF

RBSFY

RUBSF

SOFI

YUGVF

Press Releases

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CTLT, HRT, SWAV, MODN

Kuehn Law Encourages IP, SWAV, NX, and UNIT Investors to Contact Law Firm

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates UNIT, SWAV, IP, NX

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates AGBA, HIBB, SWAV

Earnings

Shockwave Medical Reports First Quarter 2024 Financial Results

Kuehn Law Encourages SWAV, ALE, PRFT, and LSAK Investors to Contact Law Firm

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ALE, PRFT, SWAV

SHOCKWAVE MEDICAL INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Shockwave Medical, Inc. - SWAV

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

Government Trades

SHOCKWAVE MED INC

top performing SWAV trades