Latest news for Acerinox (OTC:ACRXF) Stock

Acerinox SA is a Spain-based stainless steel maker engaged in the manufacture, processing, and marketing of stainless steel products and special alloys. The company operates in two segments; the Stainless steel segment which accounts for the majority of the company's revenue, includes both flat and long stainless steel products, and the High-performance alloys segment includes special alloys with high nickel content. This segment includes all the companies in the VDM Metals subgroup. Geographically the company operates in Spain, the Rest of Europe, America, Africa, Asia, and Others.

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Commodities

ACRXF

NISTF

Explore the dynamic landscape of the steel industry as it undergoes consolidation, highlighted by key acquisitions like Nippon Steel&#39;s purchase of U.S. Steel and Acerinox&#39;s strategic expansion.

Steel Industry Continues To Consolidate As Companies Adapt To New Global Dynamics

HAYN

Equities

News

Small Cap

Movers

Haynes International embarks on a $970 million acquisition journey by North American Stainless, a subsidiary of Acerinox SA. The all-cash deal, priced at $61.00 per share, signifies a 9% premium, boosting confidence in the company&#39;s growth prospects. The strategic move is set to enhance operations, with an additional $200 million investment in the combined U.S. operations, primarily focused on Kokomo, Indiana.

Alloy Manufacturer Haynes Gets Hitched: Scores 9% Premium In $970M Takeover Deal

Acerinox SA

Shares of nuclear components and fuel supplier BWX Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWXT#NYSE">BWXT</a>) are<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> trading higher </a>on Wednesday.
The company has been awarded contracts totaling approximately $2.1 billion from the U.S. <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43809100/bwxt-announces-2-1-billion-in-contracts-for-naval-nuclear-reactor-components" rel="noreferrer noopener">Naval Nuclear Propulsion Program</a>.
These agreements are centered on manufacturing reactor components for the Columbia and Virginia class submarines, along with Ford class aircraft carriers.
The work will be carried out at multiple BWX Technologies facilities in Lynchburg, Virginia, Barberton and Euclid, Ohio, and Mount Vernon, Indiana, over a seven-year period beginning in 2023.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/legal/25/02/43778605/tesla-files-fresh-lawsuit-against-matthews-after-court-defeat" rel="noreferrer noopener">Tesla Files Fresh Lawsuit Against Matthews After Court Defeat</a>
Alongside the reactor component contracts, BWX Technologies is also responsible for manufacturing nuclear fuel. This contract, valued at around $300 million, was awarded and announced in October 2023. The project is slated for completion by the end of this year.
&#8220;For more than 70 years, BWXT has proudly supported the U.S. Navy&#8217;s mission to defend freedom and uphold security across the globe,&#8221; said BWXT Nuclear Operations Group, Inc. president Gary D. Camper.
&#8220;These contracts represent not just our unmatched expertise in naval nuclear power but also our dedication to empowering the Navy with the tools needed to ensure the seas remain free and open.&#8221;
Price Action: BWXT shares are trading higher by 2.44% at $109.34 at the last check Wednesday.
Read Next:
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Contracts

General

BWXT

What's Going On With BWX Technologies Stock Today?

Celsius Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NYSE">CELH</a>) short percent of float has risen 18.37% since its last report. The company recently reported that it has 37.19 million shares sold short, which is 20.49% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.23 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Celsius Holdings Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739993426_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Celsius Holdings has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Celsius Holdings's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Celsius Holdings's peer group average for short interest as a percentage of float is 5.31%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

CELH

What Does the Market Think About Celsius Holdings?

Toll Brothers's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) short percent of float has risen 29.53% since its last report. The company recently reported that it has 3.47 million shares sold short, which is 4.65% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.22 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Toll Brothers Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739993421_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Toll Brothers has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Toll Brothers's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Toll Brothers's peer group average for short interest as a percentage of float is 10.27%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Toll Brothers?

MetLife's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>) short percent of float has fallen 8.53% since its last report. The company recently reported that it has 6.80 million shares sold short, which is 1.18% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.89 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>MetLife Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739993415_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for MetLife has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing MetLife's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, MetLife's peer group average for short interest as a percentage of float is 2.36%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?utm_source=insights&amp;adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Do Investors Really Feel About MetLife?

<a href="https://www.benzinga.com/topic/george-soros">Billionaire investor George Soros</a> made some bold portfolio adjustments in the fourth quarter, signaling a shift toward growth while easing off defensive bets. 
Soros Fund Management's latest 13F filing shows fresh bets on Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and small-cap stocks, alongside a significant reduction in its SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) put position.
Meanwhile, the fund trimmed its stake in Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#NYSE">BABAF</a>) and fully exited Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), reflecting a shifting stance on Chinese tech.
<h2 class="wp-block-heading">Doubling Down On Alphabet, Small Caps</h2>
Alphabet emerged as one of Soros' biggest buys, with the fund increasing its stake by 2.55%. 
The firm also ramped up its exposure to the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), a play on smaller, high-growth companies. 
This move suggests Soros is betting on a continued rebound in both mega-cap tech and smaller, more volatile stocks.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43816112/hedge-fund-shake-up-tiger-appaloosa-soros-outperform-buffett-icahn-ackman">Hedge Fund Shake-Up: Tiger, Appaloosa, Soros Outperform Buffett, Icahn, Ackman</a>
<h2 class="wp-block-heading">Cutting Market Hedges, Adding Fixed Income</h2>
Soros Fund slashed its SPY put position by nearly 15%, signaling reduced bearish sentiment on the broader market. &#8216;
The fund also trimmed holdings in The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>), while increasing exposure to Ford Motor Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) debt and the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) calls — moves that hint at an evolving fixed-income strategy.
<h2 class="wp-block-heading">China Exposure Shrinks As BABA Gets Trimmed</h2>
Alibaba stock took a hit in the fourth quarter as Soros scaled back his position, joining other investors in reassessing Chinese tech. 
Meanwhile, Smurfit WestRock PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SW#NYSE">SW</a>) remained the fund's top holding at 5.71% of the portfolio, with Alphabet and AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) rounding out the top three.
Soros' latest moves suggest a more optimistic take on U.S. growth stocks while pulling back on market hedges and Chinese tech bets.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43811538/5-top-tech-stocks-hedge-funds-have-been-bullish-on-in-q4-hint-its-not-nvidia">5 Top Tech Stocks Hedge Funds Have Been Bullish On In Q4 (Hint: It&#8217;s Not Nvidia)</a></li>
</ul>
Image: Shutterstock

Long Ideas

Hedge Funds

BABA

ALIBABA GROUP HOLDING LTD by Alibaba Group Holding Limited

BABAF

GOOGL

ORCL

iShares Trust Barclays 20+ Year Treasury Bond Fund

George Soros Makes Fresh Bets On Alphabet, Small Caps: What About SPY Puts And Alibaba?

On Wednesday, Precision BioSciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTIL#NASDAQ">DTIL</a>) revealed initial results from the first administration of PBGENE-HBV in cohort 1, the lowest dose level <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43808780/precision-biosciences-announces-initial-safety-and-antiviral-activity-of-pbgene-hbv-in-the-elimina" rel="noreferrer noopener">of the ELIMINATE-B trial</a>.
The ELIMINATE-B trial is designed to investigate PBGENE-HBV at multiple ascending dose levels with three dose administrations per dose level in chronic Hepatitis B patients who are HBeAg-negative.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42924720/precision-biosciences-gene-editing-platform-has-differentiated-mechanism-and-is-potentially-competitive-analyst" rel="noreferrer noopener">Precision BioSciences&#8217; Gene Editing Platform Has Differentiated Mechanism, And Is Potentially Competitive: Analyst</a>
PBGENE-HBV, which comprises an ARCUS-encoding mRNA encapsulated in a lipid nanoparticle (LNP), was safe and well tolerated in all three cohort 1 participants after the first administration of a 0.2 mg/kg dose. The planned dosing schedule in ELIMINATE-B allows for two additional administrations at this dose level while simultaneously investigating the next higher dose level.
Across the three participants dosed, none experienced a Grade ≥2 treatment-related adverse event or serious adverse event.
In addition to safety, PBGENE-HBV demonstrated a substantial reduction in Hepatitis B surface antigen (HBsAg) in two of the three participants following the first administration at dose level 1.
With a well-tolerated safety profile and early antiviral activity established at pre-specified time points, Precision will complete subsequent administrations in all cohort 1 patients.
The ELIMINATE-B study is currently enrolling HBeAg-negative chronic Hepatitis B patients at sites in Moldova, Hong Kong, and New Zealand.
The company is on schedule to provide additional administrations at this dose level and subsequently plans to escalate to higher dose levels to define the optimal dose and number of dose administrations for safely eliminating covalently closed circular DNA (cccDNA)&nbsp;and inactivating integrated HBV DNA.
Precision plans to share detailed clinical data throughout 2025. HC Wainwright analyst Patrick Trucchio reiterates Precision BioSciences with a Buy and maintains a $60 price target.
Price Action: DTIL stock is up 9.22% at $5.63 at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/health-care/25/02/43817640/philips-stock-falls-as-china-weakness-drags-q4-earnings-2025-outlook" target="_blank" rel="noreferrer noopener">Philips Stock Falls As China Weakness Drags Q4 Earnings, 2025 Outlook</a></li>
</ul>

Biotech

Health Care

DTIL

Precision BioSciences Touts Encouraging Initial Safety And Antiviral Activity Of Hepatitis B Treatment Candidate

BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">relatively flat on Wednesday.</a>
The company has reportedly canceled meetings with companies amid U.S. Securities and Exchange Commission&#8217;s new investor activism rules, raising concerns over the future of environmental, social, and governance engagement, The Financial Times <a target="_blank" href="https://www.ft.com/content/533f9322-f098-4b82-823f-a7a8ef9350f1" rel="noreferrer noopener">reports</a>.
The SEC&#8217;s recent rule changes, which target the influence of ESG factors in investing, have forced BlackRock to pause its usual &#8220;stewardship&#8221; meetings while it assesses the new regulatory landscape, the report adds, citing people familiar with the discussions.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, BLK stock has gained over 22% in the past year. Investors can gain exposure to the stock via&nbsp;Fidelity Disruptive Finance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDFF#NASDAQ">FDFF</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43816112/hedge-fund-shake-up-tiger-appaloosa-soros-outperform-buffett-icahn-ackman" rel="noreferrer noopener">Hedge Fund Shake-Up: Tiger, Appaloosa, Soros Outperform Buffett, Icahn, Ackman</a>
The SEC&#8217;s updated guidelines impose more stringent requirements on fund managers who aim to influence corporate behavior, such as pressing for changes in executive compensation or promoting climate risk disclosures.
Previously, managers owning more than 5% of a company could file a relatively simple 13-G form, but now they may need to file a 13-D, triggering more complex disclosures and deadlines.
This regulatory shift complicates BlackRock&#8217;s ability to engage on key ESG topics and undermines efforts to address corporate governance issues like poison pill plans, the report further notes.
The rule changes have drawn criticism for curbing the power of fund managers to press companies on social and environmental issues, especially as conservative lawmakers intensify pressure on firms like BlackRock over their perceived influence on corporate America.
As BlackRock and other asset managers navigate these new requirements, the broader impact on ESG investing and corporate governance remains unclear.
Price Action: BLK shares are trading higher by 0.86% to $986.23 at last check Wednesday.
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/news/earnings/25/02/43766008/berkshire-hathaways-13f-filing-suggests-a-buffett-style-bash-pizza-beer-and-fine-wine" target="_blank" rel="noreferrer noopener">Berkshire Hathaway&#8217;s 13F Filing Suggests a Buffett-Style Bash — Pizza, Beer and Fine Wine</a></li>
</ul>
Photo by rafapress on Shutterstock.

Markets

Media

FDFF

What's Going On With BlackRock Stock Today?

On Wednesday, Harmony Biosciences Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRMY#NASDAQ">HRMY</a>) received a Refusal to File (RTF) letter from the U.S. Food and Drug Administration (FDA) for pitolisant for excessive daytime sleepiness (EDS) in adult patients <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43810390/harmony-biosciences-provides-update-on-the-status-of-the-supplemental-new-drug-application-for-pit" rel="noreferrer noopener">with idiopathic hypersomnia (IH)</a>.
Harmony&#8217;s 2025 net revenue guidance of $820 million-$860 million remains unchanged.
&#8220;We are disappointed with this short-term setback, but our long-term strategy for pitolisant in IH remains firmly on track with our focus on Pitolisant HD,&#8221; said Jeffrey M. Dayno, President and Chief Executive Officer of Harmony Biosciences. &#8220;We are on track to initiate a Phase 3 registrational trial of Pitolisant HD in IH in Q4 2025, with a target PDUFA date in 2028.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40802152/neurology-focused-harmony-biosciences-gains-confidence-with-wakix-sales-surge-strat" rel="noreferrer noopener">Neurology-Focused Harmony Biosciences Gains Confidence With Wakix Sales Surge, Strategic Pipeline Expansion, Bullish Analyst Says</a>
Although the primary outcome for excessive daytime sleepiness (EDS) between pitolisant and placebo did not reach statistical significance in the randomized withdrawal phase of the Phase 3 INTUNE Study, the data from the open-label phase showed that patients experienced improvements on the Epworth Sleepiness Scale that were five times greater than what is recognized as clinically meaningful.
Furthermore, most patients in the long-term extension study achieved normal levels of wakefulness and sustained this response beyond one year.
Pitolisant is marketed as Wakix&nbsp;in the U.S. for EDS or cataplexy in adult patients with narcolepsy and for EDS in pediatric patients 6 years of age and older with narcolepsy.&nbsp;It is not currently approved for IH.
In January, the company reported preliminary net product revenue for the fourth quarter of approximately $201 million, compared to $168.4 million a year ago and the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $198.6 million</a>.
The average number of patients on Wakix increased by approximately 300 sequentially to approximately 7,100 for the quarter <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b42942961/harmony-biosciences-reports-strong-2024-revenues-provides-2025-revenue-guidance-and-highlights-key" rel="noreferrer noopener">ended December 31, 2024</a>.
Needham analyst Ami Fadia maintains Harmony Biosciences with a Buy and lowers the price <a target="_blank" href="https://www.benzinga.com/quote/HRMY/analyst-ratings" rel="noreferrer noopener">target from $52 to $50</a>.
Price Action: HRMY stock is down 6.50% at $36.55 at last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/25/02/43815970/ai-meets-water-palantir-partners-with-saur-for-smarter-contract-management" target="_blank" rel="noreferrer noopener">Palantir Strikes AI Deal With SAUR For Contract Management: Details</a></li>
</ul>

HRMY

Harmony Biosciences Stock Falls On FDA Setback For Pitolisant In Sleeping Disorder

Blockstream CEO Adam Back believes Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is entering a fresh bull market, citing strong inflows from ETFs <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43790066/institutions-can-earn-bitcoin-yield-with-lstbtc-while-retaining-custodian-security">and institutional investors.</a>
What Happened: "We're certainly in the early stages of a bull market," Back <a href="https://x.com/Cointelegraph/status/1892255600119001153">told</a> CNBC on Wednesday, emphasizing the growing demand for Bitcoin among financial institutions.
Back highlighted that Bitcoin ETFs are currently absorbing twice the daily mined supply, with firms like MicroStrategy further adding to the buying pressure. 
"Really, there's a lot of inflow," he said, adding that despite short-term profit-taking by midterm investors, structural demand remains robust.
Bitcoin is currently trading at $96,000, gaining 2% for the day, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is up 3% at $2,705.
Other major cryptocurrencies are also rallying, with BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) up 2.5%, Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) up 3.5% to $170.5, and Litecoin (CRYPTO: LITE) surging 8%. 
Meme coins Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) are trading flat.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43816143/study-shows-reasons-why-bitcoin-ethereum-dogecoin-shiba-inu-plummet-from-their-all-time-highs">Study Shows Reasons Why Bitcoin, Ethereum, Dogecoin, Shiba Inu Plummet From Their All-Time Highs</a>
Why It Matters: Back noted that institutional adoption is accelerating, with ETF 13F filings revealing that 30% of Bitcoin ETF buyers are institutions.
He expects pension and mutual funds to increase their allocations in the coming cycle. "There's a lot of room for capital to come in," he said.
Additionally, Back suggested Bitcoin could soon compete with gold ETFs as capital reallocates from traditional safe-haven assets. 
He also pointed to sovereign treasuries as a potential catalyst, stating that if one major nation adds Bitcoin to reserves, "others will feel forced to follow suit."
With institutional capital and treasury investments increasing, the market could be poised for further gains, reinforcing Back's view that Bitcoin remains in the early innings of a sustained rally.
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Image: Shutterstock

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

Cryptocurrency

$BNB

$BTC

$DOGE

$SHIB

$SOL

Bitcoin 'Early In Bull Market,' Can Compete With Gold ETFs, Blockstream CEO Says

WIIM

Eason Technology shares are trading higher after the company announced it has acquired Hongkong Starlux Intelligent Technology.

Whales with a lot of money to spend have taken a noticeably bullish stance on Novo Nordisk.
Looking at options history for Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $136,075 and 10, calls, for a total amount of $989,743.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $125.0 for Novo Nordisk during the past quarter. 
<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 Novo Nordisk'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 Novo Nordisk's whale activity within a strike price range from $70.0 to $125.0 in the last 30 days. 
<h3>Novo Nordisk Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739992546_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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>NVO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.3</td>
<td>$5.0</td>
<td>$5.05</td>
<td>$110.00</td>
<td>$606.0K</td>
<td>1.9K</td>
<td>1.2K</td>
</tr>
<tr>
<td>NVO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$18.0</td>
<td>$17.8</td>
<td>$18.0</td>
<td>$95.00</td>
<td>$106.2K</td>
<td>601</td>
<td>60</td>
</tr>
<tr>
<td>NVO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$5.65</td>
<td>$5.55</td>
<td>$5.55</td>
<td>$85.00</td>
<td>$73.2K</td>
<td>2.1K</td>
<td>95</td>
</tr>
<tr>
<td>NVO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$18.0</td>
<td>$17.8</td>
<td>$17.8</td>
<td>$75.00</td>
<td>$53.4K</td>
<td>199</td>
<td>2</td>
</tr>
<tr>
<td>NVO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$14.95</td>
<td>$14.7</td>
<td>$14.85</td>
<td>$70.00</td>
<td>$46.0K</td>
<td>44</td>
<td>31</td>
</tr>
</tbody>
</table>

<h3>About Novo Nordisk</h3>
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
Having examined the options trading patterns of Novo Nordisk, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Novo Nordisk Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 3,760,951, the NVO's price is up by 1.01%, now at $83.16. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 77 days.</li>
</ul>
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&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>.
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 Novo Nordisk options trades with real-time alerts from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.

Options

Spotlight on Novo Nordisk: Analyzing the Surge in Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Intuit.
Looking at options history for Intuit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $351,320 and 5, calls, for a total amount of $362,470.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $530.0 and $670.0 for Intuit, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Intuit options trades today is 185.6 with a total volume of 128.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Intuit's big money trades within a strike price range of $530.0 to $670.0 over the last 30 days.
<h3>Intuit Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739992541_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 align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>INTU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$19.8</td>
<td>$18.0</td>
<td>$18.0</td>
<td>$565.00</td>
<td>$173.0K</td>
<td align="right">147</td>
<td align="right">10</td>
</tr>
<tr>
<td>INTU</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$72.4</td>
<td>$64.4</td>
<td>$70.0</td>
<td>$600.00</td>
<td>$126.0K</td>
<td align="right">303</td>
<td align="right">0</td>
</tr>
<tr>
<td>INTU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$104.0</td>
<td>$99.0</td>
<td>$99.0</td>
<td>$610.00</td>
<td>$99.0K</td>
<td align="right">20</td>
<td align="right">10</td>
</tr>
<tr>
<td>INTU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$25.8</td>
<td>$24.9</td>
<td>$25.8</td>
<td>$580.00</td>
<td>$38.7K</td>
<td align="right">387</td>
<td align="right">48</td>
</tr>
<tr>
<td>INTU</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$24.8</td>
<td>$24.5</td>
<td>$24.5</td>
<td>$580.00</td>
<td>$36.7K</td>
<td align="right">387</td>
<td align="right">0</td>
</tr>
</tbody>
</table>

<h3>About Intuit</h3>
Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte). Founded in the mid-1980s, Intuit controls the majority of US market share for small-business accounting and do-it-yourself tax-filing software.
<h3>Where Is Intuit Standing Right Now?</h3>
<ul>
<li>With a volume of 914,340, the price of INTU is down -0.59% at $576.52. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 6 days.</li>
</ul>
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&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>.
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 Intuit with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

INTU

Check Out What Whales Are Doing With INTU

Whales with a lot of money to spend have taken a noticeably bullish stance on Roblox.
Looking at options history for Roblox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) we detected 14 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 42% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $221,365 and 8, calls, for a total amount of $315,360.
<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 $30.0 to $79.0 for Roblox during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Roblox stands at 1006.23, with a total volume reaching 1,126.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Roblox, situated within the strike price corridor from $30.0 to $79.0, throughout the last 30 days.
<h3>Roblox Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739992536_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>RBLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$15.6</td>
<td>$15.15</td>
<td>$15.6</td>
<td>$52.50</td>
<td>$68.6K</td>
<td>106</td>
<td align="right">1</td>
</tr>
<tr>
<td>RBLX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$4.35</td>
<td>$4.3</td>
<td>$4.3</td>
<td>$65.00</td>
<td>$45.5K</td>
<td>1.7K</td>
<td align="right">110</td>
</tr>
<tr>
<td>RBLX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$22.55</td>
<td>$21.85</td>
<td>$22.32</td>
<td>$45.00</td>
<td>$44.6K</td>
<td>144</td>
<td align="right">20</td>
</tr>
<tr>
<td>RBLX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$6.9</td>
<td>$6.8</td>
<td>$6.8</td>
<td>$72.50</td>
<td>$43.5K</td>
<td>456</td>
<td align="right">64</td>
</tr>
<tr>
<td>RBLX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/07/25</td>
<td>$14.5</td>
<td>$14.3</td>
<td>$14.3</td>
<td>$79.00</td>
<td>$42.9K</td>
<td>1</td>
<td align="right">30</td>
</tr>
</tbody>
</table>

<h3>About Roblox</h3>
Roblox operates an online video game platform with 80 million daily active users that lets young gamers create, develop, and monetize games (or "experiences") for other players. The firm offers its developers a hybrid of a game engine, publishing platform, online hosting and services, marketplace with payment processing, and social network. The platform is a closed garden that Roblox controls, earning $3.5 billion in bookings in 2023 through in-game purchases and advertising while benefiting from outsourced game development. Unlike traditional video game publishers, Roblox is more focused on the creation of new tools and monetization techniques for its developers than creating new games or franchises.
After a thorough review of the options trading surrounding Roblox, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Roblox Standing Right Now?</h3>
<ul>
<li>With a trading volume of 2,865,542, the price of RBLX is down by -3.28%, reaching $63.93.</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 78 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Roblox</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $69.2.
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&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Citigroup persists with their Buy rating on Roblox, maintaining a target price of $82. 
&#x2A; Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $72. 
&#x2A; Maintaining their stance, an analyst from Roth MKM continues to hold a Neutral rating for Roblox, targeting a price of $70. 
&#x2A; An analyst from Macquarie has decided to maintain their Outperform rating on Roblox, which currently sits at a price target of $76. 
&#x2A; Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Roblox, targeting a price of $46. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Roblox, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

RBLX

Roblox's Options: A Look at What the Big Money is Thinking

Shares of Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) are off slightly ahead of tomorrow's report. The company will release its earnings tomorrow and is scheduled to have a conference call at 7:30 AM EST to discuss the results.
Even if the earnings are good, there is a chance that the stock heads lower. This is why it is our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.
BABA has rallied by about 60% in just a few weeks. Analysts attribute this move to <a href="https://www.benzinga.com/general/market-summary/25/02/43806017/alibabas-q4-shakeup-many-asian-funds-exit-while-us-based-funds-like-ubs-oconnor-marathon-assetmark-cantor-fitzgerald-double-down">optimism around AI advancement.</a>
This could set the stage for what traders call a ‘crowded trade'. This would be bearish for the stock.
It means that because investors think the earnings will be good, the vast majority purchase shares ahead of the release. This makes the market effectively run out of buyers.
Stocks don't move higher unless traders and investors who wish to buy push the price up. A market with no buyers can't go up.
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If the earnings are good and the stock doesn't rally, some will become concerned and may decide to sell.&nbsp; But they will have a hard time finding buyers for their shares. They may need to push the price lower.
Others will see this and may decide to do the same. It could result in a snowball effect that results in a selloff even if the numbers beat expectations.
Technically, as you can see on the chart below, Alibaba is also extremely overbought.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="545" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/19141022/119-1024x545.png" alt="" class="wp-image-789703" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/19141022/119-1024x545.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/19141022/119-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/19141022/119-768x409.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/19141022/119.png 1518w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
This means the stock is trading above what would be its typical or normal range. Some technical traders will be anticipating a reversion to the mean or move lower. They may enter the market as sellers and this could put downward pressure on the stock.
The shares are also testing resistance around $124.00. The last three times they hit this level a selloff followed.
Resistance is a price level where there is a large amount of sell interest. Stocks can sell off of resistance if some of the people who created the resistance become willing to accept lower prices and start to undercut each other.
Excessive optimism about the earnings release, being overbought, and being at resistance means BABA may be about to head lower. Even if the earnings are good.
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Image: Shutterstock

Technicals

Stock Of The Day: Will A 'Crowded Trade' Force Alibaba Lower?

APTO

Aptose Biosciences shares are trading lower after the company announced a 1-for-30 reverse stock split.

WOOF

Petco Health and Wellness shares are trading lower. The company announced leadership changes at the company including the CFO.

Capri Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>) shares traded higher on Wednesday after the company revealed <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">its long-term growth targets.</a>
The company <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43493897/versace-jimmy-choo-parent-capri-q3-earnings-miss-sales-decline-lackluster-outlook-more" rel="noreferrer noopener">reiterated </a>its FY25 revenues projections at $4.4 billion <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43812171/capri-holdings-announces-long-term-financial-targets" rel="noreferrer noopener">versus the $4.465 billion estimate</a>. Revenues are expected to be $4.1 billion in FY26 and $4.4 billion in FY27.
John D. Idol, the Company&#8217;s Chairman and Chief Executive Officer, said, &#8220;We are optimistic about the long-term growth potential for Versace, Jimmy Choo and Michael Kors as we execute our strategic initiatives.&#8221;
For 2025, Michael Kors is projected to generate $3.0 billion in revenue. Versace is expected to achieve $810 million in revenue. Jimmy Choo&#8217;s revenue is forecasted to reach $600 million.
Also Read:<a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/02/43818486/yum-brands-moves-kfcs-us-headquarters-to-texas-in-strategic-shift" rel="noreferrer noopener"> Yum! Brands Moves KFC&#8217;s US Headquarters To Texas In Strategic Shift</a>
For FY25, the company projects an adjusted operating margin of 2.3%. The adjusted operating margin is expected to rise to 3.7% for FY26.
For FY25, Michael Kors is expected to have a low double-digit operating margin. Versace is projected to have a negative high single-digit operating margin. Jimmy Choo&#8217;s operating margin is anticipated to be in the negative low single-digit range.
&#8220;Our powerful brands have enduring value and proven resilience, reinforcing our confidence in their ability to deliver revenue and earnings growth over time,&#8221; Idol adds.
In November last year, Tapestry, Inc. terminated the merger agreement with Capri, citing <a target="_blank" href="https://www.benzinga.com//node/41971497" rel="noreferrer noopener">uncertainty in the legal process.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, CPRI stock has lost over 53% in the past year. Investors can gain exposure to the stock via Elevation Series Trust Clough Select Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBSE#NYSE">CBSE</a>).
Price Action: CPRI shares are trading higher by 2.28% to $22.00 at last check Wednesday.
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Photo: Giorgio Borelli/Shutterstock.com.

Guidance

Changebridge Capital Sustainable Equity ETF

CBSE

CPRI

Why Is Fashion Luxury Company Capri Stock Gaining Today?

FVRR

Fiverr shares are trading lower after the company reported Q4 financial results and missed its adjusted EPS estimate.

CVEO

Civeo shares are trading higher after the company announced it acquired four mining villages in the Bowen Basin for $67 million.

Diversified Energy shares are trading lower after the company announced plans for a public offering of 8.5 million shares.

Acerinox

While the multi-billion Nippon Steel&#8216;s (OTCPK: NISTF) acquisition of U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) remains one of the hot topics in an election year, smaller transactions are confirming the positive merger and acquisition trend in the <a href="https://www.benzinga.com/topic/steel">steel industry.</a>



Acerinox&#8216;s (OTCPK: ACRXF) U.S. subsidiary, North American Stainless (NAS), recently finalized the acquisition of Haynes International in an all-cash transaction. This acquisition, valued at approximately $970 million, reflects Acerinox&#8217;s commitment to strengthening its global leadership in the manufacturing and distributing of stainless steel and high-performance alloys.



"Haynes has impressive and complementary business operations, R&amp;D capabilities, and an experienced team. Their addition to Acerinox strengthens our global leadership in high-performance alloys and creates meaningful opportunities in the high-growth aerospace segment and the attractive U.S. market," <a href="https://www.acerinox.com/en/comunicacion/noticias/Acerinox-to-Acquire-Haynes-International/">said</a> Bernando Velazquez Herreros, CEO of Axerinox.



Now read: <a href="https://www.benzinga.com/news/24/03/37934431/vales-partnership-with-doe-signals-domestic-shift-toward-sustainable-steel-production">Vale&#8217;s Partnership With DOE Signals Domestic Shift Toward Sustainable Steel Production</a>



Meanwhile, the steel market witnessed significant consolidation in Canada with Varsteel&#8216;s acquisition of Pacific Steel, a well-established family business based in Quebec. As a leading steel and pipe service center, Varsteel continues expanding its product range and geographic footprint, looking to utilize Pacific Steel's strong presence in structural steel distribution and fabrication. After the acquisition of Seaport Steel in 2022, this Canadian company gained a foothold in Oregon, so it wouldn't be surprising to see a further expansion into the U.S. market soon.



The European market isn&#8217;t idling either, with global steel manufacturer ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) taking a significant stake in Vallourec, a leading provider of tubular solutions for energy markets and industrial applications. 



The $1.03 billion (€955 million) investment gives ArcelorMittal a 28.4% stake, expanding the company&#8217;s presence in downstream, value-added segments of the steel market. Vallourec&#8217;s strong foothold in key markets such as the United States and Brazil, coupled with its focus on low-carbon production, aligns with ArcelorMittal&#8217;s long-term sustainability goals.



"Vallourec is a quality, high added-value tubular business, with established positions of strength in the attractive Brazilian and US markets," <a href="https://corporate.arcelormittal.com/media/press-releases/arcelormittal-acquires-strategic-stake-in-vallourec">said</a> CEO Aditya Mittal, clarifying the potential in the company's role to play in the energy transition and rapidly growing markets like hydrogen and geothermal applications.



In an environment with a relatively high cost of capital and escalating de-globalization and de-carbonization, the steel industry&#8217;s consolidation appears to be a logical outcome.



Expansion through strategic acquisitions, particularly into markets with strong public sector support (like Biden&#8217;s administration&#8217;s <a href="https://www.benzinga.com/markets/esg/24/03/37914506/bidens-475m-for-mining-aims-to-power-communities-hit-hardest-by-our-evolving-energy-landscape">program</a>), seems like an optional decision during such times.



Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!



Also read: <a href="https://www.benzinga.com/news/24/03/37923760/cleveland-cliffs-secures-575m-for-renewable-powered-steel-production-critical-for-the-industrial-mig">Cleveland-Cliffs Secures $575M For Renewable-Powered Steel Production Critical For &#8216;The Industrial Might Of The United States&#8217;</a>



Photo: Unspalsh

Haynes International Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAYN#NASDAQ">HAYN</a>) penned a deal to be acquired by North American Stainless, a wholly owned subsidiary of&nbsp;Acerinox SA&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ACRXF#OTC">ACRXF</a>), for an enterprise value<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/g36927333/haynes-international-announces-agreement-to-be-acquired-by-north-american-stainless-a-wholly-owned" rel="noreferrer noopener">&nbsp;of about $970 million</a>.



The all-cash transaction price represents a multiple of 12.3x fiscal 2023 EBITDA.



As per the terms, North American Stainless will acquire all Haynes&#8217; outstanding shares for $61.00 per share in cash, reflecting a premium of nearly 9% to Friday&#8217;s closing price and about 22% to its&#8217; six-month volume-weighted average share price for the period ending February 2, 2024.&nbsp;



Michael L. Shor, President and Chief Executive Officer of Haynes, said, &#8220;By joining with Acerinox, we will be able to continue to grow and enhance our operations, especially with the additional $200 million investment into the combined company&#8217;s U.S. operations, including $170 million into our operations with the vast majority invested in Kokomo, Indiana. We look forward to our people and our local communities realizing the benefits of this transaction.&#8221;



The deal, unanimously approved by the board of directors of both companies, is expected to close in the third quarter of 2024, subject to the satisfaction of customary closing conditions.&nbsp;



Post completion, Haynes will cease trading on the Nasdaq stock exchange.



Price Action: HAYN shares traded higher by 3.37% at $58.00 premarket Monday.

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