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QMCO

Quantum Corporation Shares Resume Trades

Quantum Corporation Shares Halted On Circuit Breaker To The Upside, Stock Now Down 31.8%

Cantor Fitzgerald analyst C J Muse reiterates Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) with a Overweight and maintains $95 price target.

News

Price Target

Reiteration

Analyst Ratings

Cantor Fitzgerald Reiterates Overweight on Western Digital, Maintains $95 Price Target

Whales with a lot of money to spend have taken a noticeably bullish stance on United States Steel.
Looking at options history for United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $209,777 and 4, calls, for a total amount of $132,808.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $33.0 to $52.5 for United States Steel over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of United States Steel stands at 32785.17, with a total volume reaching 3,757.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United States Steel, situated within the strike price corridor from $33.0 to $52.5, throughout the last 30 days.
<h3>United States Steel 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732638671_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>X</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$9.75</td>
<td>$9.5</td>
<td>$9.5</td>
<td>$45.00</td>
<td>$42.7K</td>
<td>55.4K</td>
<td>45</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$8.0</td>
<td>$6.6</td>
<td>$6.6</td>
<td>$40.00</td>
<td>$39.0K</td>
<td>319</td>
<td>50</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/29/24</td>
<td>$1.15</td>
<td>$0.72</td>
<td>$0.97</td>
<td>$40.00</td>
<td>$36.7K</td>
<td>6.8K</td>
<td>1.0K</td>
</tr>
<tr>
<td>X</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.85</td>
<td>$1.75</td>
<td>$1.75</td>
<td>$33.00</td>
<td>$35.0K</td>
<td>5.1K</td>
<td>284</td>
</tr>
<tr>
<td>X</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$1.73</td>
<td>$1.67</td>
<td>$1.73</td>
<td>$33.00</td>
<td>$34.6K</td>
<td>5.1K</td>
<td>485</td>
</tr>
</tbody>
</table>

<h3>About United States Steel</h3>
United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.
After a thorough review of the options trading surrounding United States Steel, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of United States Steel</h3>
<ul>
<li>With a trading volume of 976,056, the price of X is up by 0.7%, reaching $38.85.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 65 days from now.</li>
</ul>
<h3>What Analysts Are Saying About United States Steel</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $43.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on United States Steel with a target price of $43. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest United States Steel options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

What the Options Market Tells Us About United States Steel

Whales with a lot of money to spend have taken a noticeably bullish stance on Occidental Petroleum.
Looking at options history for Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) we detected 15 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $99,595 and 12, calls, for a total amount of $513,920.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $70.0 for Occidental Petroleum during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale trades within a strike price range from $45.0 to $70.0 in the last 30 days. 
<h3>Occidental Petroleum Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732638666_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$3.05</td>
<td>$3.0</td>
<td>$3.05</td>
<td>$52.50</td>
<td>$61.0K</td>
<td>1.0K</td>
<td align="right">226</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$2.41</td>
<td>$2.31</td>
<td>$2.41</td>
<td>$52.50</td>
<td>$48.2K</td>
<td>13.1K</td>
<td align="right">603</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$2.4</td>
<td>$2.3</td>
<td>$2.38</td>
<td>$52.50</td>
<td>$47.6K</td>
<td>13.1K</td>
<td align="right">202</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$2.35</td>
<td>$2.3</td>
<td>$2.34</td>
<td>$52.50</td>
<td>$46.8K</td>
<td>13.1K</td>
<td align="right">803</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$2.31</td>
<td>$2.3</td>
<td>$2.31</td>
<td>$52.50</td>
<td>$46.2K</td>
<td>13.1K</td>
<td align="right">403</td>
</tr>
</tbody>
</table>

<h3>About Occidental Petroleum</h3>
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.
Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Occidental Petroleum</h3>
<ul>
<li>Trading volume stands at 5,253,956, with OXY's price down by -1.55%, positioned at $49.66.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 78 days.</li>
</ul>
<h3>Professional Analyst Ratings for Occidental Petroleum</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $62.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Susquehanna persists with their Positive rating on Occidental Petroleum, maintaining a target price of $65. 
&#x2A; An analyst from Citigroup persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $56. 
&#x2A; Reflecting concerns, an analyst from JP Morgan lowers its rating to Neutral with a new price target of $56. 
&#x2A; An analyst from UBS has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $58. 
&#x2A; An analyst from Raymond James persists with their Strong Buy rating on Occidental Petroleum, maintaining a target price of $78. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Occidental Petroleum options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

What the Options Market Tells Us About Occidental Petroleum

Deep-pocketed investors have adopted a bullish approach towards Marvell Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MRVL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 27 extraordinary options activities for Marvell Tech. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 37% bearish. Among these notable options, 9 are puts, totaling $960,360, and 18 are calls, amounting to $972,690.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $110.0 for Marvell Tech over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Marvell Tech's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Marvell Tech's whale activity within a strike price range from $55.0 to $110.0 in the last 30 days. 
<h3>Marvell Tech Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732638661_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MRVL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$6.75</td>
<td>$6.7</td>
<td>$6.75</td>
<td>$95.00</td>
<td>$333.4K</td>
<td>1.4K</td>
<td>1.0K</td>
</tr>
<tr>
<td>MRVL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$6.5</td>
<td>$6.45</td>
<td>$6.5</td>
<td>$95.00</td>
<td>$237.9K</td>
<td>1.4K</td>
<td>502</td>
</tr>
<tr>
<td>MRVL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$34.0</td>
<td>$33.95</td>
<td>$34.0</td>
<td>$60.00</td>
<td>$136.0K</td>
<td>1.6K</td>
<td>40</td>
</tr>
<tr>
<td>MRVL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$10.8</td>
<td>$10.55</td>
<td>$10.8</td>
<td>$95.00</td>
<td>$108.0K</td>
<td>1.6K</td>
<td>100</td>
</tr>
<tr>
<td>MRVL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$6.5</td>
<td>$6.45</td>
<td>$6.5</td>
<td>$95.00</td>
<td>$84.5K</td>
<td>1.4K</td>
<td>124</td>
</tr>
</tbody>
</table>

<h3>About Marvell Tech</h3>
Marvell Technology is a fabless chip designer focused on wired networking, where it has the second-highest market share. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical and copper transceivers, switches, and storage controllers.
Following our analysis of the options activities associated with Marvell Tech, we pivot to a closer look at the company's own performance.
<h3>Where Is Marvell Tech Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 3,338,248, with MRVL's price up by 0.33%, positioned at $92.55.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 7 days.</li>
</ul>
<h3>Professional Analyst Ratings for Marvell Tech</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $102.5.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Wells Fargo persists with their Overweight rating on Marvell Tech, maintaining a target price of $110. 
&#x2A; Reflecting concerns, an analyst from Loop Capital lowers its rating to Hold with a new price target of $95.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Marvell Tech with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

MRVL

This Is What Whales Are Betting On Marvell Tech

Cantor Fitzgerald analyst Troy Jensen initiates coverage on Kornit Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRNT#NASDAQ">KRNT</a>) with a Overweight rating and announces Price Target of $39.

Initiation

KRNT

Cantor Fitzgerald Initiates Coverage On Kornit Digital with Overweight Rating, Announces Price Target of $39

Quantum Corporation Shares Resume Trade

Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) locations are reportedly calculating employee pay and hours worked by hand after a ransomware attack on a third-party software provider disrupted how the coffee shop's employees view and manage their schedules and how the company<a href="https://www.benzinga.com/news/asset-sales/24/11/42117962/starbucks-eyes-stake-sale-in-china-amid-fierce-competition-and-falling-sales"> tracks labor hours. </a>
The Details: U.K-based supply chain software provider Blue Yonder first reported that a ransomware attack had disrupted its services last Thursday. The company has indicated it is working "around the clock" with CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) to <a href="https://www.benzinga.com/markets/equities/24/11/41800177/crowdstrike-expands-cybersecurity-reach-in-europe-and-launches-ai-red-team-services">recover </a>from the ransomware attack. It has not disclosed specific details regarding the extent of the impact or the ongoing recovery timeline.
Read More: <a href="https://www.benzinga.com/general/social-media/24/11/42119493/rumble-eyes-buying-bitcoin-could-it-be-the-next-microstrategy">Rumble CEO Considers Bitcoin Investment, Engages Michael Saylor As Shares Rally</a>
Starbucks<a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-25-2024/card/exclusive-starbucks-wrestles-with-ransomware-attack-on-software-supplier-cZJuRHR4rUCg8rOc9LJQ?mod=article_inline"> told </a>the Wall Street Journal that it is paying employees for their scheduled shifts while the Blue Yonder outage continues. If employees work more or less than their scheduled shift they could be&nbsp;overpaid or underpaid, depending on the hours actually worked.&nbsp;
Starbucks said it would ensure that baristas will be paid for all hours worked when the software is back online.&nbsp;
"Keeping our partners (employees) whole despite the outage continues to be our priority and we're ensuring they will receive pay for all hours worked," Starbucks said.&nbsp;
What Else: Several grocery chains in the UK have also reported disruptions and chains including Morrisons and Sainsbury have had to resort to manual processes which affects their ability to fulfill customer orders.&nbsp;
Blue Yonder also provides supply chain software services to other large companies in the US including, Walmart, DHL, and Procter &amp; Gamble. Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) is another Blue Yonder client closely monitoring the situation. Ford spokesperson Ian Thibodeau <a href="https://dataconomy.com/2024/11/26/blue-yonder-hack-leaves-starbucks-and-grocers-in-chaos/">confirmed to</a> Dataconomy the company is aware of the incident and actively investigating its potential effects.
Price Action:  According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Starbucks shares are down 1.07% at $100.75 at the time of publication Tuesday.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>
Image: Shutterstock

Tech

CRWD

SBUX

Starbucks' Employee Systems Down After Software Provider Suffers Ransomware Attack

B of A Securities analyst Sherif El-Sabbahy maintains Blue Bird (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLBD#NASDAQ">BLBD</a>) with a Buy and lowers the price target from $66 to $63.5.

BLBD

B of A Securities Maintains Buy on Blue Bird, Lowers Price Target to $63.5

Cantor Fitzgerald analyst Pete Stavropoulos reiterates Alector (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALEC#NASDAQ">ALEC</a>) with a Overweight.

ALEC

Cantor Fitzgerald Reiterates Overweight on Alector

B of A Securities analyst Ken Hoexter maintains Schneider National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNDR#NYSE">SNDR</a>) with a Buy and raises the price target from $35 to $38.

SNDR

B of A Securities Maintains Buy on Schneider National, Raises Price Target to $38

Quantum Corporation Shares Halted On Circuit Breaker To The Upside, Stock Now Up 11.6%

Cantor Fitzgerald analyst Ross Osborn maintains Nano X Imaging (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNOX#NASDAQ">NNOX</a>) with a Overweight and lowers the price target from $14 to $11.

NNOX

Cantor Fitzgerald Maintains Overweight on Nano X Imaging, Lowers Price Target to $11

Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>), a cryptocurrency stemming from a 2017 Bitcoin fork, traded lower by 2.9% to $483.68 during Tuesday&#8217;s session as Bitcoin's price slipped from its recent highs, dampening bullish sentiment across the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42183963/microstrategy-coinbase-and-other-bitcoin-linked-stocks-tumble-as-btcs-march-to-100000-stalls">crypto market</a>. 
What To Know: Bitcoin, the industry's flagship asset, was trading at $93,000 as of 11:00am EST retreating after nearing the $100,000 milestone. This resistance level has emerged as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42192364/bitcoin-correction-could-go-as-deep-as-88700-but-125000-year-end-target-remains-in-play-says-standard-chartered">critical psychological</a> and technical barrier.
The broader cryptocurrency market reflected this slowdown, with Bitcoin-related equities also tumbling in pre-market trading. Analysts are signaling caution, citing overextended bullish sentiment and waning momentum. A prominent trader predicted that if Bitcoin fails to surpass $100,000, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42183963/microstrategy-coinbase-and-other-bitcoin-linked-stocks-tumble-as-btcs-march-to-100000-stalls">a correction to $85,600 could follow</a>.
Bitcoin Cash, closely tied to Bitcoin's market trends, could face headwinds throughout Tuesday&#8217;s session as the overall market cools, underscoring its susceptibility to Bitcoin's price movements.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">Michael Saylor&#8217;s MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?</a>

$BCH

Why Bitcoin Cash Is Falling Tuesday

Berry Global Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) shares are trading lower on Tuesday. On Monday, the company disclosed an agreement to sell its Specialty Tapes business to Nautic Partners, LLC, for around $540 million, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42179476/berry-global-announces-agreement-to-sell-specialty-tapes-business-to-nautic-partners" rel="noreferrer noopener">subject to closing adjustments</a>.
The divestment aligns with its strategy of focusing on higher-growth, consumer-oriented markets. The company plans to use proceeds from the sale to reduce debt.
The sale is expected to close in the first half of 2025, subject to customary closing conditions.
Including the cash received from its recent HHNF spin-off and the Tapes sale, Berry's pro forma net debt as of September 30, 2024, is expected to be approximately $5.9 billion, representing a 3.5x LTM net leverage ratio.
Berry CEO, Kevin Kwilinski, said, &#8220;Over the past year, Berry has undergone a significant transformation, completing the spin-off of our HHNF business, enhancing our product mix and optimizing our portfolio. The sale of Tapes further supports these efforts and the continued focus on our high-growth consumer portfolio.&#8221;
This month, Berry Global agreed to merge&nbsp;with Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) in an all-stock transaction, with the deal valuing Berry&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/11/42069248/amcor-and-berry-seal-the-deal-73-59-per-share-merger-to-forge-packaging-powerhouse" rel="noreferrer noopener">stock at $73.59 per share</a>.
The companies anticipate a $650 million benefit from synergies by the end of year three, including $530 million in annual pre-tax cost savings, $60 million in financial savings, and $60 million from growth synergies.
Berry Global&nbsp;noted the sale of the Tapes business further reinforces the strategic rationale for the combination and has no material impact on the financial profile of the combined entity.
Price Action: BERY shares are down 1.47% at $70.50 at the last check Tuesday.
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<a href="https://www.benzinga.com/topic/dmt">DMT</a>, or dimethyltryptamine, has intrigued researchers and psychedelic enthusiasts for its profound effects on consciousness. Known for inducing otherworldly visions, from &#8220;machine elves&#8221; to mystical figures, some scientists now propose that DMT may play a key role in extraordinary experiences like vivid dreams, near-death encounters and spiritual awakenings. 
<h3 class="wp-block-heading">DMT: A Naturally Occurring Substance In Humans</h3>
DMT is a naturally occurring compound found in plants, animals and humans. First identified in humans in the 1950s, it gained attention in the 1990s through <a href="https://www.benzinga.com/markets/cannabis/20/12/18522764/more-real-than-real-a-psychiatrist-discusses-dmt">Rick Strassman</a>'s research, where he coined the term ‘the spirit molecule' in <a href="https://psychiatryonline.org/doi/10.1176/appi.ajp.159.8.1448">his 2000 book</a>. Strassman proposed that DMT could induce spiritual experiences and might be produced by the <a href="https://en.wikipedia.org/wiki/File:Pineal_gland.png">pineal gland</a>. While found in the pineal gland of rats, in humans, DMT is only detectable in urine, blood and cerebrospinal fluid, making it difficult to study.
Strassman's theory, as Double Blind <a href="https://doubleblindmag.com/our-brains-make-dmt/">reports</a>, proposed that DMT could be responsible for the vivid visions and transcendental experiences often associated with both near-death encounters and extreme psychological states. &#8220;When Strassman called DMT ‘the spirit molecule,' he meant it rather literally: Its function in the brain, he argued, is simply to elicit psychological states that we call spiritual,&#8221; <a href="https://www.vox.com/the-highlight/379914/dmt-psychedelics-drug-neuroscience-consciousness-ayahuasca">wrote</a> journalist Oshan Jarow in Vox.
<h3 class="wp-block-heading">DMT And Near-Death Experiences</h3>
One of the most compelling aspects of DMT research is its potential connection to <a href="https://www.benzinga.com/markets/cannabis/24/08/40528986/psychedelic-trips-resemble-near-death-experiences-new-study-shows-what-does-it-mean">near-death experiences</a>. A 2019 study found that DMT levels spike in rat brains during cardiac arrest, suggesting it may play a role in the vivid, transformative experiences reported during near-death encounters. This has led some researchers to speculate that DMT's release during extreme stress could trigger the mystical visions often experienced in such situations.
Dr. Ede Frecska, a researcher from the University of Debrecen in Hungary, proposed that DMT could be released in response to the brain's need to preserve itself during near-death situations. "Extrapolating from this finding, one might be tempted to hypothesize that this sudden flood of DMT may provoke the mystical encounters on the border between life and death," Frecska wrote in his work with Strassman.
While this hypothesis remains speculative, it is part of a broader effort to understand how DMT could influence human consciousness during moments of extreme distress or transition.
<h3 class="wp-block-heading">DMT And Dream States</h3>
In addition to its connection with near-death experiences, DMT's potential role in dreams has also intrigued researchers. Some believe it could explain the vivid, spiritual quality of dreams. A 2018 <a href="https://cosmosandhistory.org/index.php/journal/article/view/734/1200">study</a> published in The Journal of Natural and Social Philosophy suggests DMT may be released during sleep, making dreams feel more real. Its small molecular structure allows it to cross the blood-brain barrier, altering perception and possibly contributing to closed-eye visions or hallucinations in darkness or sensory deprivation.
<h3 class="wp-block-heading">The Elusive Nature Of DMT Research</h3>
Despite the growing interest in DMT, much about the molecule remains a mystery. While researchers have identified the necessary enzymes for DMT synthesis in the brain, its exact role in human consciousness is still unclear. As neuroscientist Jimo Borjigin from the University of Michigan noted, "We know nothing—seriously!—about the role of endogenous DMT." The challenges of studying DMT, particularly because it is quickly metabolized in the body, have made it difficult to draw definitive conclusions.
While early research raised concerns about a potential link between elevated DMT levels and psychiatric conditions like schizophrenia, studies have since debunked this theory. "If you've got really high levels of psychedelics that your body is making, maybe that's conferring hallucinations and delusions," <a href="https://lettersandsciencemag.ucdavis.edu/feature/exploring-psychedelics-within-us">said</a> Cassandra Hatzipantelis, a postdoctoral fellow at the UC Davis Institute for Psychedelics and Neurotherapeutics. "But they found no correlation between schizophrenia patients and endogenous psychedelic levels, and it was all thrown out."
As research continues, scientists are beginning to uncover the potential roles of DMT in human consciousness. Whether it's playing a part in near-death experiences, enhancing the quality of dreams, or facilitating profound spiritual experiences, DMT's influence on the brain is a subject of growing interest.
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