Latest news for Adavale Resources (OTC:ADRLF) Stock

Adavale Resources Ltd engages in mining exploration and development activities in Australia and Africa. The company holds a 100% interest in the Lake Surprise uranium project with three exploration licenses in the northern part of the Lake Frome Embayment, South Australia. It also holds an interest in Kabanga Jirani Nickel Project.

ADAVALE RESOURCES LTD by ADAVALE RESOURCES LTD

Adavale Resources Ltd

WIIM

CVLG

Covenant Logistics shares are trading higher after the company reported better-than-expected Q2 earnings.

Willis Towers Watson shares are trading higher after the company reported better-than-expected Q2 earnings and raised its FY24 EPS guidance.

<p><strong>PG&amp;E Corporation</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pcg#NYSE">PCG</a>) reported second-quarter 2024 adjusted earnings per share of 31 cents, which surpassed the Zacks Consensus Estimate of 30 cents by 3.3%. The bottom line also improved 34.8% from the year-ago quarter&#39;s reported figure.</p>
<p>The company reported GAAP earnings of 24 cents per share compared with 19 cents in the prior-year quarter.</p>
<p>The year-over-year improvement in the bottom line can be attributed to an increase in customer capital investment and non-fuel operating and maintenance (O&amp;M) savings.</p>
<h3>Revenue Update</h3>
<p>PCG reported second-quarter total revenues of $5.99 billion, up 13.2% from $5.29 billion registered in the year-ago period. Operating revenues also surpassed the Zacks Consensus Estimate of $5.83 billion by 2.7%.</p>
<div class="chart_embed">
<h3>Pacific Gas &amp; Electric Co. Price, Consensus and EPS Surprise</h3>
<h3><img alt="Pacific Gas &amp; Electric Co. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ff/1721914359.png" style="height:265px; width:574px" title="" /></h3>
<p>Pacific Gas &amp; Electric Co. price-consensus-eps-surprise-chart | Pacific Gas &amp; Electric Co. Quote</p>
</div>
<h3>Operational Highlights</h3>
<p>Total operating expenses in the second quarter of 2024 were $4.85 billion, up 1.4% from the prior-year reported figure.</p>
<p>The company reported an operating income of $1.13 billion compared with $0.51 billion a year ago.</p>
<p>Interest expenses totaled $812 million compared with $640 million in the prior-year quarter.</p>
<h3>Financials</h3>
<p>As of Jun 30, 2024, cash and cash equivalents totaled $1.32 billion compared with $0.64 billion as of Dec 31, 2023.</p>
<p>Cash flow from operating activities amounted to $2.97 billion for the second quarter of 2024 compared with $2.46 billion in the second quarter of 2023.</p>
<p>Capital expenditures totaled $4.94 billion during the second quarter compared with $4.68 billion in the corresponding period of 2023.</p>
<p>As of Jun 30, 2024, the long-term debt amounted to $52.66 billion compared with $50.98 billion as of Dec 31, 2023.</p>
<h3>Guidance</h3>
<p>PG&amp;E reaffirmed its 2024 adjusted EPS guidance. The company still expects to generate adjusted earnings in the range of $1.33-$1.37 per share. The Zacks Consensus Estimate for 2024 earnings is pegged at $1.35 per share, which came in line with the midpoint of the company&#39;s guided range.</p>
<h3>Zacks Rank</h3>
<p>PG&amp;E currently carries a Zacks Rank #2 (Buy).</p>
<h3>Recent Utility Releases</h3>
<p><strong>AVANGRID, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/agr#NYSE">AGR</a>) reported second-quarter 2024 earnings of 49 cents per share, which surpassed the Zacks Consensus Estimate of 27 cents by 81.5%. The bottom line also increased 133.3% from the year-ago quarter&#39;s figure of 21 cents.</p>
<p>Operating revenues amounted to $1.92 billion, which beat the Zacks Consensus Estimate of $1.72 billion by 11.9%. The top line also increased 21.2% from $1.59 billion reported in the comparable period of 2023.</p>
<p><strong>NextEra Energy, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nee#NYSE">NEE</a>) reported second-quarter 2024 adjusted earnings of 96 cents per share, which beat the Zacks Consensus Estimate of 93 cents by 3.2%. The bottom line was also up nearly 9.1% year over year.</p>
<p>In the second quarter, NextEra Energy&#39;s operating revenues were $6.06 billion, which lagged the Zacks Consensus Estimate of $7.26 billion by 16.8%. The top line plunged 17.4% year over year.</p>
<p><strong>CMS Energy Corporation</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cms#NYSE">CMS</a>) reported second-quarter 2024 adjusted earnings per share of 66 cents, which beat the Zacks Consensus Estimate of 63 cents by 4.8%. However, the bottom line declined 12% from 75 cents reported in the prior-year quarter.</p>
<p>Operating revenues totaled $1.61 billion, which lagged the Zacks Consensus Estimate of $1.69 billion by 5%. However, the top line increased 3.3% on a year-over-year basis.</p>
<p><a href="https://www.zacks.com/stock/news/2309167/pg-e-pcg-q2-earnings-top-estimates-revenues-increase-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309167">To read this article on Zacks.com click here.</a></p>


Earnings

Earnings Beats

News

Guidance

Markets

Analyst Ratings

Trading Ideas

PG&E Q2 Earnings Top Estimates, Revenues Increase Y/Y

<p>JMP Securities  analyst Patrick Walravens   maintains ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) with a Market Outperform and raises the price target from $825 to $850.</p>


Price Target

JMP Securities Maintains Market Outperform on ServiceNow, Raises Price Target to $850

<p><strong>Salesforce Corp</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are on the rise Thursday, potentially influenced by <strong>ServiceNow Inc</strong>.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>)  second-quarter earnings report. Here&#8217;s<a href="https://www.benzinga.com/news/24/07/39939566/whats-going-on-with-salesforce-crm-stock"> what you need to know.</a></p>
<p><strong>What Happened: </strong>Significant options trading for Salesforce suggests mixed investor sentiment, with 40% bullish and 45% bearish activity. Analysts project Salesforce's price range to be between $195.00 and $290.00.</p>
<p>On the other hand, ServiceNow&#8217;s earnings were driven by strong U.S. federal business and AI software adoption. ServiceNow reported $2.63 billion in revenue, surpassing the consensus estimate of $2.61 billion. </p>
<p>The company also exceeded earnings expectations with EPS that outperformed analysts&#8217; projections. This strong performance has boosted ServiceNow&#8217;s shares by 6.04% to $775.00 and appears to be positively impacting Salesforce.</p>
<p><strong>Why It Matters: </strong>ServiceNow&#8217;s and Salesforce's expansion into AI-driven customer support solutions highlights increasing competition between the two companies. </p>
<p>Both companies are leveraging AI to enhance customer service and business operations, positioning them as leading rivals in the customer relationship management and enterprise software market. This competition is set to shape the future of AI in customer support, impacting both companies&#8217; market positions and investor interests.</p>
<p><strong>CRM Price Action: </strong>Salesforce shares were up by 3.05% at $257.40 according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a></p>
<p><figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/pro/checkout/benzinga-pro-essential-2024?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="531" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM-1024x531.png" alt="" class="wp-image-457719" style="width:465px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM-1024x531.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM-300x156.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM-768x398.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM.png 1089w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure></p>
<p><strong>See Also:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/news/earnings/24/07/39967398/gold-down-2-5-northrop-grumman-posts-upbeat-earnings">Gold Down 2.5%; Northrop Grumman Posts Upbeat Earnings</a></strong></li>
</ul>
<p><em>Image Via Shutterstock.</em></p>


Movers

What's Going On With Salesforce Shares Today?

<p>JMP Securities  analyst Mitch Germain   maintains Getty Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTY#NYSE">GTY</a>) with a Market Outperform and raises the price target from $31.5 to $33.</p>


JMP Securities Maintains Market Outperform on Getty Realty, Raises Price Target to $33

<p><strong>Independent Bank Corp.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/indb#NASDAQ">INDB</a>) appears an attractive pick given a noticeable improvement in the company&#39;s earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.</p>
<p>The upward trend in estimate revisions for this holding company for Rockland Trust reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.</p>
<p>The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.</p>
<p>For Independent Bank Corp. There has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.</p>
<p>The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:</p>
<p><strong>12 Month EPS</strong></p>
<p><img alt="" class="chart" src="https://chart-service.zacks.com/images/weekly/yesop_12_month_eps/INDB.png" style="width:100%" title="" /></p>
<p><strong>Current-Quarter Estimate Revisions</strong></p>
<p>The company is expected to earn $1.20 per share for the current quarter, which represents a year-over-year change of -13.04%.</p>
<p>Over the last 30 days, the Zacks Consensus Estimate for Independent Bank Corp. has increased 9.09% because three estimates have moved higher compared to no negative revisions.</p>
<p><strong>Current-Year Estimate Revisions</strong></p>
<p>For the full year, the company is expected to earn $4.75 per share, representing a year-over-year change of -12.36%.</p>
<p>In terms of estimate revisions, the trend for the current year also appears quite encouraging for Independent Bank Corp. Over the past month, three estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 6.5%.</p>
<p><strong>Favorable Zacks Rank</strong></p>
<p>Thanks to promising estimate revisions, Independent Bank Corp. currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.</p>
<p>Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&amp;P 500.</p>
<p><strong>Bottom Line</strong></p>
<p>Investors have been betting on Independent Bank Corp. because of its solid estimate revisions, as evident from the stock&#39;s 32% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.</p>
<p><a href="https://www.zacks.com/stock/news/2309313/can-independent-bank-corp-indb-run-higher-on-rising-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_8-2309313">To read this article on Zacks.com click here.</a></p>


INDB

Can Independent Bank Corp. Run Higher on Rising Earnings Estimates?

Biotech

General

FDA Advisory Committee Reviewed Imfinzi For Resectable Non-Small Cell Lung Cancer Based On Phase III Trial Results; AstraZeneca Reports Imfinzi Met Primary Endpoint Of Event-Free Survival And Was Generally Well Tolerated With No New Safety Signals

<p><strong>CBRE Group Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cbre#NYSE">CBRE</a>) reported second-quarter 2024 core earnings per share of 81 cents, ahead of the Zacks Consensus Estimate of 69 cents. However, the reported figure declined 1.2% year over year.</p>
<p>Reflecting positive sentiments, shares of CBRE were up more than 9% so far today. Results reflect growth in its resilient lines of business. Global Workplace Solutions (&quot;GWS&quot;) experienced strong business wins with a healthy balance of new clients and expansion. The leasing business performed well due to office leasing revenue growth in the United States, driven by strength in New York. However, the Real Estate Investments segment&#39;s revenues decreased year over year.</p>
<p>Quarterly revenues were up 8.7% year over year to $8.39 billion but compared unfavorably with the Zacks Consensus Estimate of $8.52 billion.</p>
<p>Net revenues increased 11% (11.7% in local currency) year over year to $4.97 billion. Core EBITDA rose marginally (1.7% in local currency) to $505 million.</p>
<h3>Quarter in Detail</h3>
<p>CBRE Group&#39;s Advisory Services segment reported a year-over-year revenue increase of 8.6% (9.3% in local currency) to $2.22 billion. Our estimate was nearly the same as reported number.</p>
<p>Global leasing revenues rose 9% (same local currency), driven by leasing revenue growth in the Americas and Asia-Pacific regions.</p>
<p>Global sales revenues fell 3% (2% in local currency) even though property sales revenues began to stabilize. However, mortgage origination revenue rose 38% (same local currency) due to a 20% increase in loan origination fees and higher interest earnings on escrow balances.</p>
<p>The GWS segment registered a year-over-year increase of 9.5% (10.3% in local currency) in revenues to $5.94 billion. Our estimate was pegged at $5.98 billion.</p>
<p>Paced by the sustained strength in the Local business, Facilities management net revenues rose 18% (19% in local currency). Project management net revenues increased 11% (12% in local currency) due to the continued strong growth in Turner &amp; Townsend. Net operating margin improved 20 basis points compared with first-quarter 2024, reflecting the early benefit of recent cost actions, but was below the prior-year period.</p>
<p>The Real Estate Investments segment experienced a decrease of 9.2% (same local currency) in revenues to $232 million.</p>
<p>At the end of the second quarter of 2024, assets under management decreased $1.5 billion from the first quarter of 2024 to $142.5 billion due to lower asset values and an adverse foreign currency movement.</p>
<p>In the second quarter of 2024, CBRE acquired Direct Line Global, which is a leading provider of technical facilities management services for data center owners and operators, for a total cash and non-cash consideration of $290.9 million. CBRE also acquired a provider of local facilities management technical services in Canada.</p>
<p>During the quarter, CBRE also announced its plan to combine its project management business with its Turner &amp; Townsend subsidiary.</p>
<h3>Balance Sheet Position</h3>
<p>CBRE Group exited the second quarter of 2024 with cash and cash equivalents of $928 million, down from $1.04 billion as of Mar 31, 2024.</p>
<p>As of Jun 30, 2024, CBRE Group had $3.7 billion in total liquidity. This comprised nearly $927.7 million in cash in addition to the ability to borrow a total of approximately $2.7 billion under its revolving credit facilities, net of any outstanding letters of credit. The company&#39;s net leverage ratio was 1.58x as of the same date, significantly less than CBRE&#39;s primary debt covenant of 4.25x.</p>
<p>During the June-end quarter, the company repurchased approximately 0.6 million shares for $48.4 million. As of Jun 30, 2024, it had $1.4 billion of stock-repurchase capacity remaining under its authorized buyback program.</p>
<h3>Outlook</h3>
<p>For 2024, CBRE projects its core EPS in the range of $4.70-$4.90, up from the previous guided range of $4.25-$4.65. The company expects approximately over 45% of its full-year core EPS to be achieved in the fourth quarter of 2024. The Zacks Consensus Estimate for the same is currently pegged at $4.48, which is below the guided range.</p>
<p>Currently, CBRE Group carries a Zacks Rank #3 (Hold).</p>
<div class="chart_embed">
<h3>CBRE Group, Inc. Price, Consensus and EPS Surprise</h3>
<p><img alt="CBRE Group, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/96/1721919867.png" style="height:265px; width:577px" title="" /></p>
<p><span style="font-size:13px">CBRE Group, Inc. price-consensus-eps-surprise-chart</span><span style="font-size:13px"> | </span><span style="font-size:13px">CBRE Group, Inc. Quote</span></p>
</div>
<h3>Upcoming Releases</h3>
<p>It&#39;s time to look forward to two stocks from the real estate operation industry, <strong>Jones Lang LaSalle Incorporated</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jll#NYSE">JLL</a>) and <strong>Kennedy-Wilson Holdings, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kw#NYSE">KW</a>). While Jones Lang LaSalle is slated to report quarterly numbers on Aug 6, Kennedy-Wilson Holdings is scheduled to come up with its figures on Aug 7.</p>
<p>The Zacks Consensus Estimate for Jones Lang LaSalle&#39;s second-quarter 2024 EPS stands at $2.27, which suggests a significant increase on a year-over-year basis. JLL currently carries a Zacks Rank of 3.</p>
<p>The Zacks Consensus Estimate for Kennedy-Wilson Holdings&#39; second-quarter 2024 loss per share is pegged at 24 cents, which implies a substantial decrease year over year. KW currently carries a Zacks Rank of 2 (Buy).</p>
<p><a href="https://www.zacks.com/stock/news/2309308/cbre-group-cbre-q2-earnings-beat-2024-outlook-raised?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309308">To read this article on Zacks.com click here.</a></p>


REIT

Small Cap

Real Estate

CBRE

CBRE Group Q2 Earnings Beat, 2024 Outlook Raised

<p>High-rolling investors have positioned themselves bullish on Liberty SiriusXM Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSXMK#NASDAQ">LSXMK</a>), and it's important for retail traders to take note.<br />
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in LSXMK often signals that someone has privileged information.</p>
<p>Today, Benzinga's options scanner spotted 11 options trades for Liberty SiriusXM Gr. This is not a typical pattern.</p>
<p>The sentiment among these major traders is split, with 54% bullish and 45% bearish. Among all the options we identified, there was one put, amounting to $28,860, and 10 calls, totaling $507,474.</p>
<h3>Predicted Price Range</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $28.0 for Liberty SiriusXM Gr during the past quarter. </p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Liberty SiriusXM Gr's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Liberty SiriusXM Gr's significant trades, within a strike price range of $20.0 to $28.0, over the past month.</p>
<h3>Liberty SiriusXM Gr Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721936774_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>LSXMK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$1.8</td>
<td>$1.6</td>
<td>$1.77</td>
<td>$23.00</td>
<td>$106.6K</td>
<td>2.6K</td>
<td>635</td>
</tr>
<tr>
<td>LSXMK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$1.8</td>
<td>$1.6</td>
<td>$1.8</td>
<td>$23.00</td>
<td>$72.8K</td>
<td>2.6K</td>
<td>1.2K</td>
</tr>
<tr>
<td>LSXMK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$1.2</td>
<td>$0.9</td>
<td>$0.95</td>
<td>$25.00</td>
<td>$66.0K</td>
<td>4.9K</td>
<td>2.2K</td>
</tr>
<tr>
<td>LSXMK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$1.0</td>
<td>$0.95</td>
<td>$1.0</td>
<td>$25.00</td>
<td>$57.0K</td>
<td>4.9K</td>
<td>921</td>
</tr>
<tr>
<td>LSXMK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$0.95</td>
<td>$0.9</td>
<td>$0.95</td>
<td>$25.00</td>
<td>$51.3K</td>
<td>4.9K</td>
<td>2.2K</td>
</tr>
</tbody>
</table>
</p>
<h3>About Liberty SiriusXM Gr</h3>
<p>Liberty SiriusXM Group through its subsidiary holding is engaged in providing a subscription-based satellite radio service. It transmits music, sports, entertainment, comedy, talk, news, traffic, and weather channels, as well as infotainment services. The firm's segments include Sirius XM Holdings, Formula 1, and Braves Group. The company distributes its satellite radios through automakers and rental car companies, as well as through its retail locations and Website; and satellite radio services to various automaker customers. Geographically it offers services in the region of the US and UK.</p>
<h3>Present Market Standing of Liberty SiriusXM Gr</h3>
<ul>
<li>Currently trading with a volume of 871,014, the LSXMK's price is down by -0.75%, now at $22.6. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 14 days.</li>
</ul>
<p>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 Liberty SiriusXM Gr with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Options

LSXMK

Market Whales and Their Recent Bets on LSXMK Options

<p>Whales with a lot of money to spend have taken a noticeably bullish stance on <strong>Caesars Entertainment</strong>.</p>
<p>Looking at options history for Caesars Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) we detected 11 trades.</p>
<p>If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 36% with bearish.</p>
<p>From the overall spotted trades, 8 are puts, for a total amount of $316,933 and 3, calls, for a total amount of $237,512.</p>
<h3>Expected Price Movements</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $31.0 and $60.0 for Caesars Entertainment, spanning the last three months.</p>
<h3>Volume &amp; Open Interest Development</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Caesars Entertainment's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Caesars Entertainment's substantial trades, within a strike price spectrum from $31.0 to $60.0 over the preceding 30 days.</p>
<h3>Caesars Entertainment Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721936769_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>CZR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$3.8</td>
<td>$3.65</td>
<td>$3.75</td>
<td>$32.00</td>
<td>$168.3K</td>
<td>388</td>
<td>500</td>
</tr>
<tr>
<td>CZR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$0.74</td>
<td>$0.64</td>
<td>$0.74</td>
<td>$31.00</td>
<td>$90.2K</td>
<td>43</td>
<td>1.5K</td>
</tr>
<tr>
<td>CZR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/02/24</td>
<td>$0.6</td>
<td>$0.56</td>
<td>$0.56</td>
<td>$32.00</td>
<td>$44.2K</td>
<td>149</td>
<td>1.6K</td>
</tr>
<tr>
<td>CZR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$2.06</td>
<td>$1.9</td>
<td>$2.0</td>
<td>$60.00</td>
<td>$40.0K</td>
<td>10.2K</td>
<td>217</td>
</tr>
<tr>
<td>CZR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$4.45</td>
<td>$4.35</td>
<td>$4.45</td>
<td>$35.00</td>
<td>$34.2K</td>
<td>856</td>
<td>77</td>
</tr>
</tbody>
</table>
</p>
<h3>About Caesars Entertainment</h3>
<p>Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional (48%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced marginal EBITDA in 2023. Caesars' US presence roughly doubled with the 2020 acquisition by Eldorado, which built its first casino in Reno, Nevada, in 1973 and expanded its presence through prior acquisitions to over 20 properties before merging with legacy Caesars. Caesars' brands include Caesars, Harrah's, Tropicana, Bally's, Isle, and Flamingo. Also, the company owns the US portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.</p>
<h3>Current Position of Caesars Entertainment</h3>
<ul>
<li>With a volume of 3,591,403, the price of CZR is down -1.27% at $33.77. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 5 days.</li>
</ul>
<h3>Expert Opinions on Caesars Entertainment</h3>
<p>Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $49.4.</p>
<ul>
<li>An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Caesars Entertainment, which currently sits at a price target of $41. </li>
<li>Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Caesars Entertainment with a target price of $62. </li>
<li>Reflecting concerns, an analyst from Susquehanna lowers its rating to Negative with a new price target of $33.</li>
<li>Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Caesars Entertainment, targeting a price of $53. </li>
<li>An analyst from JMP Securities persists with their Market Outperform rating on Caesars Entertainment, maintaining a target price of $58. </li>
</ul>
<p>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 Caesars Entertainment with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Decoding Caesars Entertainment's Options Activity: What's the Big Picture?

<p>Financial giants have made a conspicuous bearish move on Merck &amp; Co. Our analysis of options history for Merck &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) revealed 9 unusual trades.</p>
<p>Delving into the details, we found 44% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $123,625, and 6 were calls, valued at $299,194.</p>
<h3>Projected Price Targets</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $120.0 to $130.0 for Merck &amp; Co during the past quarter. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Merck &amp; Co's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Merck &amp; Co's substantial trades, within a strike price spectrum from $120.0 to $130.0 over the preceding 30 days.</p>
<h3>Merck &amp; Co Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721936764_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$3.9</td>
<td>$3.7</td>
<td>$3.85</td>
<td>$124.00</td>
<td>$73.5K</td>
<td>443</td>
<td>214</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/02/24</td>
<td>$3.1</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$127.00</td>
<td>$60.0K</td>
<td>300</td>
<td>226</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$9.7</td>
<td>$9.7</td>
<td>$9.7</td>
<td>$120.00</td>
<td>$55.2K</td>
<td>1.9K</td>
<td>60</td>
</tr>
<tr>
<td>MRK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$0.43</td>
<td>$0.33</td>
<td>$0.35</td>
<td>$125.00</td>
<td>$51.9K</td>
<td>1.6K</td>
<td>4.0K</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/02/24</td>
<td>$3.05</td>
<td>$3.0</td>
<td>$3.05</td>
<td>$127.00</td>
<td>$45.7K</td>
<td>300</td>
<td>193</td>
</tr>
</tbody>
</table>
</p>
<h3>About Merck &amp; Co</h3>
<p>Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer, and infections. Within cancer, the firm's immuno-oncology platform is growing as a major contributor to overall sales. The company also has a substantial vaccine business, with treatments to prevent pediatric diseases as well as human papillomavirus, or HPV. Additionally, Merck sells animal health-related drugs. From a geographical perspective, just under half of the company's sales are generated in the United States.</p>
<p>After a thorough review of the options trading surrounding Merck &amp; Co, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Present Market Standing of Merck &amp; Co</h3>
<ul>
<li>Trading volume stands at 4,941,230, with MRK's price up by 0.4%, positioned at $126.42.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 5 days.</li>
</ul>
<h3>What The Experts Say On Merck &amp; Co</h3>
<p>A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $134.0.</p>
<ul>
<li>An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Merck &amp; Co, which currently sits at a price target of $134. </li>
</ul>
<p>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 Merck &amp; Co with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Smart Money Is Betting Big In MRK Options

<p><strong>Snowflake Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) shares are moving higher Thursday, bouncing back after falling amid overall tech weakness on Wednesday. The stock may be benefiting from strong quarterly results from <strong>ServiceNow Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>).</p>
<p><strong>What Happened With NOW:</strong> ServiceNow reported <a href="https://www.benzinga.com/news/earnings/24/07/39967002/servicenow-analysts-boost-their-forecasts-after-better-than-expected-q2-results">second-quarter revenue</a> of $2.627 billion, surpassing the consensus estimate of $2.607 billion. This beat in earnings has driven a positive sentiment in the market, causing ServiceNow shares to rise by 14.7% to $837.96 at the time of publication Thursday.</p>
<p>Analysts cite robust U.S. federal business and increasing AI software adoption as key drivers of this performance.</p>
<p><strong>Why It Matters:</strong> Snowflake and ServiceNow are both significant players in the cloud computing sector. ServiceNow&#8217;s strong performance may indicate a positive trend for similar companies, suggesting that Snowflake could also experience favorable results in its upcoming earnings report.</p>
<p><strong>Price Action:</strong> Snowflake shares were up by 4.20% at $130.90 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a></p>
<p><figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/pro/checkout/benzinga-pro-essential-2024?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="543" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25141446/SNOW-1-1024x543.png" alt="" class="wp-image-457683" style="width:445px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25141446/SNOW-1-1024x543.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25141446/SNOW-1-300x159.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25141446/SNOW-1-768x407.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25141446/SNOW-1.png 1066w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure></p>
<p><strong>See Also:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39967236/galaxy-digital-raises-113m-for-crypto-fund-bets-on-two-decade-blockchain-transition">Galaxy Digital Raises $113M For Crypto Fund, Bets On &#8216;Two-Decade&#8217; Blockchain Transition</a></strong></li>
</ul>
<p><em>Photo via Shutterstock.</em></p>


SNOW

Snowflake Shares Are Trading Higher: What's Going On

<p>JMP Securities  analyst Devin Ryan   maintains FTAI Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) with a Market Outperform and raises the price target from $90 to $132.</p>


FTAI

JMP Securities Maintains Market Outperform on FTAI Aviation, Raises Price Target to $132

<p><strong>Waste Management Inc. </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wm#NYSE">WM</a>) reported second-quarter 2024 results, wherein earnings met the Zacks Consensus Estimate, while revenues missed the same.</p>
<p>WM&#39;s adjusted earnings per share were $1.8, which increased 20.5% on a year-over-year basis. Total revenues of $5.4 billion missed the consensus estimate by a slight margin but increased 5.5% from the year-ago quarter.</p>
<p>Thestock has gained 26.6% in the past year, outperforming 22.9% and 22.6% growth of the industry it belongs to and the Zacks S&amp;P 500 Composite, respectively.</p>
<div class="chart_embed">
<h3>Waste Management, Inc. Price and EPS Surprise</h3>
<h3><img alt="Waste Management, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/15/1721920401.png" style="height:263px; width:545px" title="" /></h3>
<p>Waste Management, Inc. price-eps-surprise | Waste Management, Inc. Quote</p>
</div>
<h3>Quarterly Numbers in Detail</h3>
<p>The Collection segment recorded revenues of $4.2 billion, rising 4% from the year-ago quarter and surpassing our estimate of $4 billion. The Landfill segment&#39;s top line grew 2.2% year over year to $1.3 billion and met our estimate. Total revenues in the Transfer segment increased 5.6% to $618 million and outpaced our expectation of $604.4 million. The Recycling segment&#39;s revenues rose 20.6% to $475 million and beat our expectation of $416.2 million. The figures are before the alignment of intercompany adjustment.</p>
<p>The adjusted operating EBITDA was $1.6 billion, which met our estimate and increased 10.3% from the year-ago quarter. The adjusted operating EBITDA margin increased 130 basis points to 30% from the year-ago quarter and beat our estimate of 28.7%.</p>
<h3>Balance Sheet &amp; Cash Flow</h3>
<p>Waste Management exited the second quarter of 2024 with cash and cash equivalents of $172 million compared with $322 million at the end of the prior quarter. The long-term debt (less current portion) was $16.5 billion compared with $15.8 billion at the end of the prior quarter.</p>
<p>WM generated $1.2 billion in cash from operating activities in the reported quarter, while capital expenditure was $667 million. The free cash flow was $530 million. In the second quarter of 2024, $608 million in cash dividends was distributed to shareholders. The company&#39;s share repurchases amounted to $262 million.</p>
<h3>2024 Outlook</h3>
<p>For 2024, the adjusted operating EBITDA is expected to be $6.375-$6.525 billion. The free cash flow is estimated between $2 and $2.15.</p>
<p>Currently, WM carries a Zacks Rank #2 (Buy).</p>
<h3>Earnings Snapshot of Some Business Services Stock</h3>
<p><strong>Fiserv, Inc.</strong>&nbsp;reported mixed second-quarter 2024 results.</p>
<p>FI&#39;s adjusted earnings per share (excluding 60 cents from non-recurring items) of $2.1 outpaced the consensus mark by 1.9% and increased 17.7% year over year. Adjusted revenues of $4.8 billion missed the consensus estimate by a slight margin but rose on a year-over-year basis.</p>
<p><strong>IQVIA Holdings Analytics Inc. </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iqv#NYSE">IQV</a>) reported impressive second-quarter 2024 results.</p>
<p>Adjusted earnings (excluding 67 cents from non-recurring items) were $2.6 per share, outpacing the Zacks Consensus Estimate by 2.3% and increasing 2.4% on a year-over-year basis. Total revenues of $3.8 billion surpassed the consensus estimate marginally and rose 2.3% from the year-ago quarter.</p>
<p><a href="https://www.zacks.com/stock/news/2309349/waste-management-wm-q2-earnings-meet-estimates-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309349">To read this article on Zacks.com click here.</a></p>


Dividends

Waste Management Q2 Earnings Meet Estimates, Rise Y/Y

<p><strong>3M Co</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) will report second-quarter earnings on Friday, July 25. Wall Street expects $1.68 in EPS and $5.9 billion in revenues as the company reports<a href="https://www.benzinga.com/calendars/earnings?tickers=MMM"> before market hours</a>.</p>
<p>The stock is up 19.01% over the past year, 13.52% year-to-date.</p>
<p>Let&#8217;s look at what the charts indicate for 3M stock, and how the stock currently maps against Wall Street estimates.</p>
<h3 class="wp-block-heading"><strong>3M Stock Bullish Ahead Of Q2 Earnings</strong></h3>
<p>3M is currently in a moderately bullish trend, but recent selling pressure introduces risk of potential bearish movement.</p>
<p><figure class="wp-block-image size-full"><a href="Chart created using Benzinga Pro"><img loading="lazy" decoding="async" width="634" height="457" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25092718/Screenshot-2024-07-25-at-6.40.50-PM.png" alt="" class="wp-image-456913" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25092718/Screenshot-2024-07-25-at-6.40.50-PM.png 634w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25092718/Screenshot-2024-07-25-at-6.40.50-PM-300x216.png 300w" sizes="(max-width: 634px) 100vw, 634px" /></a></figure></p>
<p><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><em>Chart created using Benzinga Pro</em></a></p>
<p>The stock price of $103.25 is above the 50-day SMA of $101.60 and the 200-day SMA of $88.50, which are bullish signals. </p>
<p>However, it is slightly below the 8-day SMA of $103.95, indicating some bearish pressure. The 20-day SMA at $102.66 also supports a bullish stance.</p>
<p><figure class="wp-block-image size-full"><a href="Chart created using Benzinga Pro"><img loading="lazy" decoding="async" width="634" height="457" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25092739/Screenshot-2024-07-25-at-6.41.11-PM.png" alt="" class="wp-image-456917" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25092739/Screenshot-2024-07-25-at-6.41.11-PM.png 634w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25092739/Screenshot-2024-07-25-at-6.41.11-PM-300x216.png 300w" sizes="(max-width: 634px) 100vw, 634px" /></a></figure></p>
<p><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><em>Chart created using Benzinga Pro</em></a></p>
<p>The MACD at 0.97 and the Bollinger Bands (with a range of $99.78 to $105.27) suggest a bullish outlook, though the RSI at 53.42 indicates the stock may be heading towards overbought conditions. </p>
<p>Investors should be aware of the mixed signals and monitor for potential shifts in trend.</p>
<p><strong>Read Also: <a href="https://www.benzinga.com/markets/equities/24/07/39707544/whats-going-on-with-post-it-maker-3ms-shares-today">What&#8217;s Going On With Post-It Maker 3M&#8217;s Shares Today?</a></strong></p>
<h3 class="wp-block-heading"><strong>3M Analysts Bullish, See 14% Upside</strong></h3>
<p><strong>Ratings &amp; Consensus Estimates:</strong><a href="https://www.benzinga.com/quote/MMM/analyst-ratings"> The consensus analyst rating</a> on 3M stock stands at a Neutral currently with a price target of $122.19. The latest analyst ratings from Barclays, Wells Fargo, and Wolfe Research imply a 13.89% upside for 3M with an average price target of $118.33.</p>
<p><strong>MMM</strong> <strong>Price Action: </strong>3M stock was trading at $103.90 at the time of publication.</p>
<p><strong>Read Next: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/markets/equities/24/07/39963781/feds-favorite-inflation-gauge-set-to-drop-to-lowest-level-in-over-3-years-is-july-rate-cut-possi">Fed&#8217;s Favorite Inflation Gauge Set To Drop To Lowest Level In Over 3 Years: Is July Rate Cut Possible?</a></strong></li>
</ul>


Analyst Color

Technicals

3M Heads Into Q2 Earnings: Bullish Tailwind Or Bearish Detour?

<p>TD Cowen  analyst Jason Seidl   maintains Knight-Swift (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) with a Buy and raises the price target from $47 to $57.</p>


TD Cowen Maintains Buy on Knight-Swift, Raises Price Target to $57

<p>TD Cowen  analyst Jason Seidl   maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Hold and raises the price target from $206 to $214.</p>


ODFL

TD Cowen Maintains Hold on Old Dominion Freight Line, Raises Price Target to $214

<p><strong>Republic Services, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rsg#NYSE">RSG</a>) reported an impressive second-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate.</p>
<p>RSG&#39;s earnings per share (excluding 1 cent from non-recurring items) of $1.6 beat the Zacks Consensus Estimate by 5.2% and increased 14.2% from the year-ago quarter. Revenues of $4 billion beat the consensus mark by a slight margin and gained 8.6% year over year.</p>
<p>The RSG stock has gained 29.7% over the past year, outperforming the 22.9% rally of the industry it belongs to and 22.6% growth of the Zacks S&amp;P 500 Composite.</p>
<div class="chart_embed">
<h3>Republic Services, Inc. Price and EPS Surprise</h3>
<h3><img alt="Republic Services, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/74/1721919935.png" style="height:263px; width:545px" title="" /></h3>
<p>Republic Services, Inc. price-eps-surprise | Republic Services, Inc. Quote</p>
</div>
<h3>Segmental Revenues</h3>
<p>Revenues from Collection totaled $2.7 billion, up 7% from the year-ago quarter, missing our expectation of $2.8 billion.</p>
<p>Revenues (net) in the Transfer and Landfill segments were $208.2 million and $440.2 million, rising 5.5% and 2.1% on a year-over-year basis, respectively. While the Transfer segment&#39;s revenues surpassed our estimate of $204.9 million, the Landfill segment missed our estimate of $447.3 million.</p>
<p>The Other segment&#39;s revenues of $204.2 million rose 30.6% from the year-ago quarter and outpaced our anticipation of $180.2 million. Environmental solutions&#39; revenues (net) of $472.6 million increased 18.7% year over year and beat our estimate of $433.5 million.</p>
<h3>Operating Results</h3>
<p>Adjusted EBITDA for the quarter was $1.3 billion, which marked 13% growth from the year-ago quarter, surpassing our estimate of $1.2 billion. The adjusted EBITDA margin of 31.1% increased 110 basis points from the year-ago quarter, beating our estimate of 30.2%.</p>
<h3>Balance Sheet &amp; Cash Flow</h3>
<p>Republic Services exited the second quarter of 2024 with cash and cash equivalents of $490.6 million compared with $91.6 million at the end of the preceding quarter. The long-term debt (net of current maturities) was $11.5 billion compared with $11.4 billion at the end of the first quarter of 2024.</p>
<p>RSG generated $1.1 billion in cash from operating activities in the reported quarter. The adjusted free cash flow was $617.1 million. Capital expenditure in the second quarter of 2024 was $403.1 million.</p>
<h3>2024 Outlook</h3>
<p>For 2024, Republic Services expects revenues of $16.08-$16.13 billion. The Zacks Consensus Estimate for the same is pegged at $16.15 billion, which is higher than the company&#39;s guided range. Adjusted EBITDA is anticipated to be $4.90-$4.93 billion.</p>
<p>RSG expects EPS of $6.15-$6.20. The consensus estimate is pegged at $6.05, which is higher than the company&#39;s guidance. The adjusted free cash flow is expected to be $2.15-$2.17 billion.</p>
<p>Currently, Republic Services carries a Zacks Rank #3 (Hold).</p>
<h3>Earnings Snapshot</h3>
<p><strong>ABM Industries Incorporated&nbsp;</strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abm#NYSE">ABM</a>) reported impressive second-quarter fiscal 2024 results.</p>
<p>ABM&#39;s EPS (excluding 18 cents from non-recurring items) was 87 cents, which beat the Zacks Consensus Estimate by 11.5% but decreased 3.3% from the year-ago quarter. Total revenues of $2 billion outpaced the consensus mark by 1% and increased 1.7% on a year-over-year basis.</p>
<p><strong>Paychex, Inc.&nbsp;</strong>(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/payx#NASDAQ">PAYX</a>) reported mixed fourth-quarter fiscal 2024 results.</p>
<p>PAYX&#39;s earnings of $1.1 per share beat the Zacks Consensus Estimate by 1.8% and increased 15.5% from the year-ago quarter. Total revenues of $1.3 billion missed the consensus estimate marginally but rose 5.3% from the year-ago quarter.</p>
<p><a href="https://www.zacks.com/stock/news/2309347/republic-services-rsg-earnings-surpass-estimates-in-q2?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309347">To read this article on Zacks.com click here.</a></p>


PAYX

Republic Services Earnings Surpass Estimates in Q2

<p>TD Cowen  analyst Bryan Bergin   maintains Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) with a Buy and raises the price target from $175 to $182.</p>


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