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JMP Securities analyst David Scharf reiterates Synchrony Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) with a Market Outperform and maintains $60 price target.

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JMP Securities Reiterates Market Outperform on Synchrony Finl, Maintains $60 Price Target

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Abbott Laboratories shares are trading lower. The company reported Q2 financial results.

D.R. Horton, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) shares are trading higher after the company reported&nbsp;<a target="_blank" href="https://benzinga.com/pressreleases/24/07/b39833823/d-r-horton-inc-americas-builder-reports-fiscal-2024-third-quarter-earnings-and-declares-quarterly-" rel="noreferrer noopener">third-quarter&nbsp;FY24 results</a>.
Sales grew&nbsp;2%&nbsp;Y/Y to&nbsp;$10.0 billion, beating the consensus of&nbsp;$9.77 billion. Net sales orders increased 1% Y/Y to 23,001 homes and&nbsp;were flat in value at $8.7 billion.
Homes closed in the quarter increased 5% Y/Y to 24,155 homes and 6% in value to $9.2 billion.
Sales order backlog of homes under contract as of June 30, 2024, decreased&nbsp;12%&nbsp;to 16,792 homes and&nbsp;12%&nbsp;in value to&nbsp;$6.6 billion.
D.R. Horton had 42,600 homes in inventory, of which 26,200 were unsold as of June-end.
EPS was&nbsp;$4.10&nbsp;(+5%&nbsp;Y/Y),&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$3.78.</a>
Return on equity (ROE) was&nbsp;21.5%&nbsp;for the trailing twelve months ended June 30, 2024, and homebuilding return on inventory (ROI) was&nbsp;29.5%.
The company&#8217;s net cash used in operations for the nine months totaled&nbsp;$228.2&nbsp;million. Consolidated cash balance was&nbsp;$3.0 billion, and available capacity on its credit facilities was&nbsp;$2.8 billion, for a total liquidity of&nbsp;$5.8 billion.
Buyback: D.R. Horton repurchased 3.0 million shares of common stock for&nbsp;$441.4 million&nbsp;during the quarter. The company&#8217;s remaining stock repurchase authorization on June 30 was&nbsp;$459.7 million.
In July 2024, the Board of Directors authorized a new stock repurchase program of up to $4.0 billion, replacing the previous authorization. This new authorization has no expiration date.
Dividend: Subsequent to quarter end, D.R. Horton declared a quarterly dividend per share of $0.30, payable on August 8 to stockholders of record on August 1.
FY24 Outlook: D.R. Horton revised&nbsp;the outlook&nbsp;for revenue to&nbsp;$36.8 billion-$37.2 billion (from $36.7 billion&nbsp;to&nbsp;$37.7 billion) vs. the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of&nbsp;$36.972 billion</a>.
It now expects homes closed to be 90,000 to 90,500 (prior view<a target="_blank" href="https://www.benzinga.com//node/38315651" rel="noreferrer noopener"> 89,000 to 91,000 homes</a>).
DHI reiterated cash provided by operations&nbsp;guidance&nbsp;of around&nbsp;$3.0 billion&nbsp;and currently expects share repurchases of ~$1.8 billion.
David Auld, Executive Chairman, said, &#8220;Although inflation and mortgage interest rates remain elevated, the supply of both new and existing homes at affordable price points is still limited, and demographics supporting housing demand continue to be favorable.&#8221;
Investors can gain exposure to the stock via&nbsp;IShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) and&nbsp;SMI 3Fourteen Full-Cycle Trend ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCTE#NASDAQ">FCTE</a>).
Price Action: DHI shares are up 6.2% at $167.15 at the last check Thursday.
Image via Shutterstock

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Builder D.R. Horton Beats On Q3 Earnings, Authorizes $4B Stock Buyback, Tightens FY24 Home Sales Forecast & More

A new study reveals how psilocybin, a compound in <a href="https://www.benzinga.com/topic/magic-mushrooms">magic mushrooms</a> induces dynamic hyperconnectivity in the brain, leading to profound ego-modifying experiences and feelings of oceanic boundlessness. Published in <a href="https://www.sciencedirect.com/science/article/abs/pii/S2451902224000843?via%3Dihub">Biological Psychiatry: Cognitive Neuroscience and Neuroimaging</a>, this research delves into the mystical experiences reported by users, highlighting the therapeutic potential of psychedelics for treating psychiatric disorders.
<h4 class="wp-block-heading">Understanding Oceanic Boundlessness</h4>
The concept of oceanic boundlessness, often described as a sense of unity, blissfulness, insightfulness and spiritual experience, is frequently associated with psychedelic sessions. The study, one of the first to utilize brain imaging in psychedelic research, identifies a specific link between the psychedelic state and changes in dynamic brain connectivity. Unlike previous research showing static <a href="https://www.benzinga.com/markets/cannabis/22/04/26592568/psilocybin-more-effective-than-antidepressants-in-treating-depression-new-study-shows">increases in global brain connectivity under psychedelics</a>, this study demonstrates that hyperconnectivity is dynamic, correlating with the feeling of oceanic boundlessness.
<h4 class="wp-block-heading">Psilocybin&#8217;s Impact on Brain Function</h4>
Johannes G. Ramaekers, PhD, from Maastricht University, notes that psilocybin has shown potential in treating a variety of disorders, including OCD, anxiety, depression and addiction. &#8220;What was not fully understood is what brain activity is associated with these profound experiences,&#8221; Ramaekers explains. The brain&#8217;s tendency to enter a hyperconnected-hyperarousal pattern under psilocybin suggests a potential for variant mental perspectives. This study sheds light on the interplay between brain dynamics and subjective experiences, offering new insights into the neurophysiology of the psychedelic state.
<h4 class="wp-block-heading">Detailed Study Findings</h4>
The research analyzed fMRI data from two groups: one received psilocybin, the other a placebo. Participants on psilocybin reported significant phenomenological changes with brain connectivity analysis revealing global region-to-region connectivity patterns. This hyperconnected pattern explains the variant mental associations experienced by participants and links to oceanic boundlessness and unity.
Larry Fort, a PhD candidate at the University of Liège, emphasizes the ego-modifying (&#8220;egotropic&#8221;) effects of psilocybin. &#8220;We expected that the hallucinatory dimensions of experience would correlate the highest with psilocybin&#8217;s hyperconnected pattern,&#8221; Fort says. However, the study found a stronger correlation between ego-modifying experiences and hyperconnectivity than with hallucinatory experiences.
<h4 class="wp-block-heading">Future Implications for Psychedelic Therapy</h4>
Cameron S. Carter, MD, editor-in-chief of &#8220;Biological Psychiatry: Cognitive Neuroscience and Neuroimaging,&#8221; says the study provides new insights into the neurophysiological mechanisms underlying psilocybin&#8217;s effects. &#8220;It sets the stage for future studies using other psychedelic agents to examine whether the dynamic connectivity effects reflect a general mechanism for the therapeutic effects of these compounds.&#8221;
Athena Demertzi, PhD, from the University of Liège, adds that the brain&#8217;s hyperconnected regions showed lower global signal amplitude, approximating heightened cortical arousal. &#8220;This might be an important correlation as we move towards a full characterization of brain states under psychedelics,&#8221; she explains.

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First-Of-Its-Kind Imaging Study Links Psilocybin To Dynamic Brain Hyperconnectivity

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Nancy Pelosi Denies Earlier Reports, Aide Says "Sadly, The Feeding Frenzy From The Press Based On Anonymous Sources Misrepresents Any Conversations The Speaker May Have Had With The President."

Shares of Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) fell sharply during Thursday's session after the company reported <a href="https://www.benzinga.com/news/earnings/24/07/39834307/dominos-pizza-suspends-1-100-global-net-store-outlook-after-q2-earnings-stock-tumbles">mixed quarterly results.</a>
The company reported second-quarter FY24 sales growth of 7.1% year-on-year to $1.097 billion, missing the analyst consensus estimate of $1.103 billion.
The company is temporarily suspending its guidance metric of 1,100+ global net stores growth until the full effect of DPE's store opens and closures on international net store growth are known.
Domino&#8217;s Pizza shares dipped 11.2% to $420.36 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Onconetix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) climbed 97.6% to $0.2944. On July 15, Onconetix announced closing of warrant exercise for $1.11 million gross proceeds.</li>
<li>Silo Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) jumped 71.6% to $3.86. Silo Pharma said it has entered into a Device and CMC Development Master Plan with Resyca BV, a medical technology provider.</li>
<li>Chuy&#8217;s Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHUY#NASDAQ">CHUY</a>) rose 47.6% to $37.29 after the company and Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) jointly announced that Darden will acquire Chuy's Holdings.</li>
<li>JE Cleantech Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JCSE#NASDAQ">JCSE</a>) jumped 24.8% to $0.8873.</li>
<li>CommScope Holding Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMM#NASDAQ">COMM</a>) gained 19% to $2.0407. Amphenol announced plans to acquire mobile networks businesses from CommScope.</li>
<li>LivePerson, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPSN#NASDAQ">LPSN</a>) gained 18% to $1.1500. LivePerson is expected to release its second quarter financial results after the closing bell on Wednesday, July 31.</li>
<li>Kopin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOPN#NASDAQ">KOPN</a>) rose 16% to $1.32. Kopin said it has achieved production approval milestone on next generation F-35 OLEDoS Microdisplay.</li>
<li>NKGen Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKGN#NASDAQ">NKGN</a>) surged 15.3% to $1.08 after the company announced it will present new SNK01 biomarker data at the Alzheimer&#8217;s Association International Conference.</li>
<li>ZimVie Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZIMV#NASDAQ">ZIMV</a>) gained 14.7% to $21.74.</li>
<li>Virtu Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) rose 13.2% to $26.61 after the company reported better-than-expected second-quarter financial results.</li>
<li>Acurx Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACXP#NASDAQ">ACXP</a>) rose 10.7% to $2.90.</li>
<li>D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) shares rose 10.6% to $174.29 after the company reported better-than-expected third-quarter financial results and revised its FY24 guidance. Also, the company authorized a new $4 billion share repurchase.</li>
<li>Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) gained 8.3% to $17.89.</li>
<li>Infosys Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>) rose 7.4% to $22.07 as the company reported first-quarter revenue growth of 2.5% in constant currency terms year-on-year to $4.71 billion, beating the analyst consensus estimate of $4.65 billion.</li>
<li>Ostin Technology Group Co Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OST#NASDAQ">OST</a>) shares climbed 7.1% to $0.2944.</li>
<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) gained 6% to $135.83 in sympathy with D.R. Horton, which reported better-than-expected third-quarter financial results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Agenus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGEN#NASDAQ">AGEN</a>) shares fell 52.7% to $8.36 after the company announced the FDA discouraged an accelerated approval pathway at the end-of-Phase 2 meeting.</li>
<li>Leslie&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LESL#NASDAQ">LESL</a>) fell 30.7% to $2.83 after the company reported preliminary financial results for the third quarter and cut its full-year guidance. Multiple analysts also lowered price targets on the stock Thursday morning.</li>
<li>Alaunos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCRT#NASDAQ">TCRT</a>) fell 26% to $4.57. Alaunos Therapeutics announced a reverse stock split of 1-for-10, effective July 18.</li>
<li>Aptevo Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APVO#NASDAQ">APVO</a>) shares fell 23% to $0.4471 after jumping 76% on Wednesday. On July 1, Aptevo Therapeutics announced the closing of $2.75 million offering.</li>
<li>Aditxt, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTX#NASDAQ">ADTX</a>) shares fell 19.7% to $1.86. Aditxt shares climbed around 46% on Wednesday after the company and Evofem amended and restated their merger agreement.</li>
<li>Locafy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCFY#NASDAQ">LCFY</a>) fell 19% to $5.33.</li>
<li>SunPower Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) fell 17.2% to $2.0850.</li>
<li>Torrid Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CURV#NYSE">CURV</a>) fell 16.7% to $7.16 after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and maintained its $5 price target.</li>
<li>Longeveron Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) declined 16.6% to $3.25. Longeveron announced a $9.0 million registered direct offering priced at-the-market under Nasdaq rules.</li>
<li>Forestar Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOR#NYSE">FOR</a>) fell 13.9% to $30.99 after the company reported worse-than-expected third-quarter EPS and revenues.</li>
<li>Stardust Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDST#NASDAQ">SDST</a>) shares declined 13.3% to $21.22 after jumping around 145% on Wednesday.</li>
<li>Cetus Capital Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETU#NASDAQ">CETU</a>) shares declined 13.2% to $8.60 after surging 80% on Wednesday.</li>
<li>Meiwu Technology Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNW#NASDAQ">WNW</a>) fell 13.2% to $1.11 after jumping more than 40% on Wednesday.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) fell 12% to $23.55.</li>
<li>American Rebel Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREB#NASDAQ">AREB</a>) shares fell 12% to $0.80 after jumping around 32% on Wednesday.</li>
<li>Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>) shares fell 9.4% to $6.49 following a report suggesting the company&#8217;s liquidity has weakened and it is engaging bondholders for debt discussions.</li>
<li>4D Molecular Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDMT#NASDAQ">FDMT</a>) declined 8.1% to $16.73. The company announced the presentation of Phase 2 PRISM interim data.</li>
<li>Texas Capital Bancshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) fell 6.2% to $66.17 following downbeat quarterly results.</li>
<li>Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) fell 5.9% to $3.66 after the company reported mixed quarterly financial results.</li>
<li>Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) declined 5.4% to $37.85 as the company reported second-quarter 2024 total operating revenue growth of 2% year-over-year to $2.897 billion, missing the consensus of $2.945 billion.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39837919/podcastone-and-2-other-stocks-under-2-insiders-are-buying">PodcastOne And 2 Other Stocks Under $2 Insiders Are Buying</a></li>
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Why Domino's Pizza Shares Are Trading Lower By Over 11%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

AMETEK's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AME#NYSE">AME</a>) short percent of float has fallen 34.26% since its last report. The company recently reported that it has 2.92 million shares sold short, which is 1.42% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.28 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/">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">List of the most shorted stocks</a>
<h3>AMETEK Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721322920_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for AMETEK 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 AMETEK'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://pro.benzinga.com/">Benzinga Pro</a>, AMETEK's peer group average for short interest as a percentage of float is 11.31%, 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/">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

(AME) - Analyzing AMETEK's Short Interest

Watsco's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSO#NYSE">WSO</a>) short percent of float has fallen 11.68% since its last report. The company recently reported that it has 3.07 million shares sold short, which is 10.06% of all regular shares that are available for trading. Based on its trading volume, it would take traders 8.97 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/">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">List of the most shorted stocks</a>
<h3>Watsco Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721322916_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Watsco 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 Watsco'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://pro.benzinga.com/">Benzinga Pro</a>, Watsco's peer group average for short interest as a percentage of float is 3.92%, 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/">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.

(WSO) - Analyzing Watsco's Short Interest

SolarEdge Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NYSE">SEDG</a>) short percent of float has risen 36.19% since its last report. The company recently reported that it has 16.12 million shares sold short, which is 34.06% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.04 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/">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">List of the most shorted stocks</a>
<h3>SolarEdge Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721322911_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for SolarEdge Technologies 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 SolarEdge Technologies'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://pro.benzinga.com/">Benzinga Pro</a>, SolarEdge Technologies's peer group average for short interest as a percentage of float is 6.00%, 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/">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.

SEDG

How Is The Market Feeling About SolarEdge Technologies?

Wolfe Research analyst Sam Margolin initiates coverage on TotalEnergies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) with a Outperform rating and announces Price Target of $87.

Initiation

Wolfe Research Initiates Coverage On TotalEnergies with Outperform Rating, Announces Price Target of $87

Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) reportedly ramped up its investment activity to a two-year peak in the second quarter, anticipating the <a target="_blank" href="https://www.benzinga.com/economics/24/07/39800936/fed-rate-cuts-a-signal-to-sell-stocks-and-buy-bonds" rel="noreferrer noopener">U.S. Federal Reserve&#8217;s impending interest rate cuts.</a>
The head of the private investment group based in New York <a target="_blank" href="https://www.ft.com/content/27462f70-a56c-4dea-b303-1ba611ee16c0" rel="noreferrer noopener">informed</a> the Financial Times that inflation appeared to be easing across its portfolio, including its substantial $336 billion property business.
&#8220;The Fed has and will have air cover to cut rates,&#8221; said Jonathan Gray, president of Blackstone, The Financial Times reported. &#8220;Their medicine has been working.&#8221;
During the quarter, Blackstone invested $33.7 billion and allocated an additional $19.1 billion to new ventures, marking its busiest period since 2022.
Gray cited their strategy to invest preemptively ahead of potential rate cuts by the Fed as driving the increased deal activity.
Gray commented as the group reported a 3% year-on-year rise in distributable earnings, slightly below analysts&#8217; expectations.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39841775/blackstones-strong-q2-drives-stock-higher-assets-under-management-up-7" rel="noreferrer noopener">Blackstone&#8217;s Strong Q2 Drives Stock Higher: Assets Under Management Up 7%</a>
He expressed confidence that the U.S. central bank would soon have the chance to ease monetary policy as inflation and the job market stabilized.
&#8220;Wage pressures have come off, and when we survey our companies, they are saying it is much easier to hire,&#8221; he noted.
He also mentioned that within its property portfolio, rent increases were occurring at a slower pace compared to what government data indicated. This trend is expected to eventually affect official inflation metrics used by the Fed to determine interest rates, Financial Times added.
Price Action: BX shares are trading higher by 2.62% to $138.38 at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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Media

Blackstone Hits Two-Year Investment Peak, Anticipates Fed Rate Cuts Amid Easing Inflation: Report

<a href="https://www.cncda.org/news/california-new-car-dealers-association-releases-q2-2024-auto-outlook-report-2/" title="https://www.cncda.org/news/california-new-car-dealers-association-releases-q2-2024-auto-outlook-report-2/">https://www.cncda.org/news/california-new-car-dealers-association-releases-q2-2024-auto-outlook-report-2/</a>

STLA

TSLA

California's New Light Vehicle Registrations Down 0.7% YTD, Totaling 892,363; State On Track For 1.8M Registrations By Year-End Despite Higher Interest Rates And Inflation; Tesla Sales Decline 17% YTD With Third Consecutive Quarter Of Registration Drops; Toyota, Hyundai, And Ford See Significant Gains With New EV Models; Toyota BEV Registrations Up 108.1%, Hyundai BEV Up 65.7%, And Ford BEV Up 26.4%; Hyundai Ioniq 5 And Ford Mustang Mach-E Among Top-Selling EVs YTD

Raymond James analyst Bobby Griffin maintains Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>) with a Outperform and raises the price target from $425 to $530.

MUSA

Raymond James Maintains Outperform on Murphy USA, Raises Price Target to $530

Ansys Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANSS#NASDAQ">ANSS</a>) is partnering with <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39837798/ansys-works-with-supermicro-and-nvidia-to-deliver-unmatched-multiphysics-simulation-with-turnkey-h" rel="noreferrer noopener">artificial intelligence server</a> company Super Micro Computer, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) and Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to provide turnkey hardware solutions that dramatically accelerate Ansys multiphysics simulation capabilities.
Ansys creates and sells engineering simulation software that helps users make quicker, informed decisions, enhance product and system designs, and optimize workflows throughout the product life cycle.
By integrating hardware and software, Ansys aims to help customers solve more significant and more complex models up to 1,600 times faster.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18103107/newplot-41.png" alt="" class="wp-image-443347" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18103107/newplot-41.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18103107/newplot-41-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
This collaboration enhances the speed and efficiency of simulations, reducing time-to-market and enabling more robust design exploration for applications such as automotive crash testing, aerospace gas turbine engines, 5G/6G antennas, and biopharmaceutical development.
Integrating various physics solvers with advanced hardware options can significantly improve performance, cost, and productivity.
The partnership leverages Nvidia technology, including H100 GPUs, L40S GPUs, and the Grace CPU Superchip.
This technology, combined with Supermicro&#8217;s server solutions, allows engineers to reduce overhead costs and energy consumption by using fewer servers for the same work.
Super Micro Computer, a key supplier for Nvidia, is optimistic about its growth trajectory. In an <a target="_blank" href="https://www.benzinga.com/government/24/07/39818236/nvidia-supplier-super-micro-computer-stock-is-down-wednesday-whats-going-on" rel="noreferrer noopener">interview with CNBC&#8217;s</a> Jim Cramer on Monday, CEO Charles Liang stated, &#8220;This AI revolution can be bigger even than the industrial revolution.&#8221;
Price Actions: At the last check on Thursday, SMCI shares were down 3.14% at $790.68. ANSS is down 1.63% at $315.01.
Photo via Shutterstock

Tech

ANSS

NVDA

SMCI

Ansys, Nvidia, and Super Micro Partner To Boost Simulation Efficiency

Raymond James analyst Michael Rose downgrades First Horizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) from Strong Buy to Outperform and maintains the price target from $18 to $18.

Downgrades

Raymond James Downgrades First Horizon to Outperform, Maintains Price Target to $18

Oppenheimer analyst Bryan Blair downgrades SPX Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPXC#NYSE">SPXC</a>) from Outperform to Perform.

SPXC

Oppenheimer Downgrades SPX Techs to Perform

Northland Capital Markets analyst Gus Richard downgrades Teradyne (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) from Outperform to Market Perform and maintains the price target from $136 to $136.

Northland Capital Markets Downgrades Teradyne to Market Perform, Maintains Price Target to $136

There are two ways traders can profit from stocks trading within a well-defined range. The first is to &#8220;trade the range.&#8221; The second way is to &#8220;trade the breakout.&#8221;
As you can see on the chart, shares of Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are trading within a range. The top of the range is the resistance around $480.00 and the bottom is support around $462.00.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="616" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18114710/1-16-1024x616.png" alt="Meta is trading withing a range." class="wp-image-443581" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18114710/1-16-1024x616.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18114710/1-16-300x180.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18114710/1-16-768x462.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18114710/1-16.png 1044w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Trading the range would be to sell if the price gets close to $480.00 and to buy if the price gets close to $462.00.
See Also: <a href="https://www.benzinga.com/markets/24/07/39840206/market-clubhouse-morning-memo-july-18th-2024-trade-strategy-for-spy-qqq-aapl-msft-nvda-googl-meta-an">Trade Strategy</a>
The top of a trading range is a resistance level. And sometimes when stocks reach resistance they tend to reverse and head lower. This happens when some of the investors and traders who created the resistance with their sell orders start to undercut each other.
They know buyers will go to whoever is willing to sell at the lowest price. They don't want to miss out, so they reduce the prices at which they are willing to sell. Others see this and do the same. This results in a snowball effect which can push the price lower.
The bottom of a trading range is a support level. Sometimes when stocks drop to support, they reverse and rally. This occurs when some investors and traders who created the support with their buy orders worry that they will miss the trade.
They know sellers will go to whoever is willing to pay the highest price. They don't want to miss the trade, so they increase the prices they are willing to pay. Others see this and do the same. It results in a bidding war that can push the price higher.
Trading the range would be to buy if the price moves above $480.00 and to sell if the price drops below $462.00.
If <a href="https://www.benzinga.com/topic/meta">Meta</a> is above $480.00, it could mean the people who created the resistance with their sell orders have left the market. They have finished or canceled their orders.
This means those who want to buy will need to bid premium prices to attract sellers off of the sidelines. This could force the price higher.
If <a href="https://www.benzinga.com/quote/META/analyst-ratings">Meta</a> is above $462.00, it may mean that the people who created the support with their buy orders have left the market. They have finished or canceled their orders.
This means people who want to sell will need to offer their shares out at a discount to draw buyers off of the sidelines. This could force the shares into a downtrend.
Read Next: • <a href="https://www.benzinga.com/personal-finance/24/07/39842841/charlie-munger-said-getting-rich-is-harder-than-ever-but-heres-the-beauty-of-it-you-only-have-to">Charlie Munger Said Getting Rich Is Harder Than Ever, But Here&#8217;s &#8216;The Beauty Of It&#8217; — You Only Have To Do It Once</a>
Photo: Shutterstock

Social Media

Technicals

Stock of the Day: Meta – How To Profit From A Trading Range

UBS analyst Jon Windham maintains Shoals Technologies Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>) with a Buy and lowers the price target from $20 to $12.

SHLS

UBS Maintains Buy on Shoals Technologies Gr, Lowers Price Target to $12

Morgan Stanley analyst Benjamin Swinburne maintains Cinemark Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNK#NYSE">CNK</a>) with a Overweight and raises the price target from $24 to $26.

Morgan Stanley Maintains Overweight on Cinemark Hldgs, Raises Price Target to $26

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Private equity firms near €14 Billion deal for eBay-backed Adevinta - report

Private equity firms near €14 Billion deal for eBay-backed Adevinta - (update)

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