Allena Pharmaceuticals Inc Stock (OTC: ALNAQ)

Latest news for Allena Pharmaceuticals Inc (OTC:ALNAQ) Stock

Allena Pharmaceuticals Inc

Stephens &amp; Co. analyst Scott Fidel reiterates Molina Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) with a Equal-Weight and maintains $320 price target.

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Stephens & Co. Reiterates Equal-Weight on Molina Healthcare, Maintains $320 Price Target

Edwards Lifesciences Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) reported Wednesday second-quarter adjusted EPS of 70 cents, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of 69 cents</a>.
The sales increased 7% (+8% on constant currency) to $1.632 billion, below the consensus of $1.653 billion.
The company reported Transcatheter Aortic Valve Replacement (TAVR) sales of $1 billion, which grew 5%, or 6% on a <a href="https://www.benzinga.com/pressreleases/24/07/b39942479/edwards-lifesciences-reports-second-quarter-results" target="_blank" rel="noreferrer noopener">constant currency basis</a>.
Edwards&#8217; competitive position did not meaningfully change globally, although the company experienced some regional pressures, and pricing was maintained.
The company also agreed to acquire JenaValve Technology, a company focused on the transcatheter treatment of aortic regurgitation (AR).
Edwards anticipates FDA approval of the JenaValve Trilogy Heart Valve System in late 2025, which will represent the first approved therapy for patients suffering from AR.
Building on an investment made in 2016, the company exercised its option to acquire Endotronix, a heart failure (HF) <a href="https://www.benzinga.com/pressreleases/24/07/b39942530/edwards-lifesciences-expands-structural-heart-portfolio-with-acquisitions-of-jenavalve-and-endotro" target="_blank" rel="noreferrer noopener">management solutions provider</a>.
Last month, Endotronix received FDA approval for Cordella, an implantable pulmonary artery pressure sensor allowing early, targeted therapeutic intervention. A CMS national coverage determination is expected in early 2025.
Edwards anticipates these investments will strengthen its leadership in structural heart offerings and represent long-term growth opportunities. Edwards expects minimal revenue contribution from these acquisitions in 2025.
The aggregate upfront purchase price is approximately $1.2 billion.
Guidance: Edwards Lifesciences anticipates second-half TAVR sales growth similar to the first-half year-over-year growth rate, or 5%-7% full-year growth versus previous guidance of 8 to 10%.
For Transcatheter Mitral and Tricuspid Therapies, the company increased 2024 sales guidance to the higher end of the previous $320 to $340 million range.
The company remains confident in full-year Surgical sales growth of 6 to 8%; it expects third-quarter sales of $1.56 billion-$1.64 billion versus a consensus of $1.65 billion.
The company expects EPS of $0.67-$0.71 versus a consensus of $0.69
William Blair notes that U.S. TAVR growth fell short of expectations, with mid-single-digit growth primarily due to hospital workflow pressures rather than competitive impacts. Recent approvals of mitral and tricuspid devices have constrained interventional procedure workflow in cath labs.
While a headwind for TAVR, analysts believe this is &#8220;validating the procedural demand within TMTT.&#8221;
William Blair maintains <a target="_blank" href="https://www.benzinga.com/quote/EW/analyst-ratings" rel="noreferrer noopener">an Outperform rating</a>.
The analyst adds, &#8220;While we acknowledge investor focus in the near term remains on TAVR growth, we continue to see the potential for rapid sales growth in this multi-billion dollar market that is low single-digits penetrated.&#8221;
Price Action: EW stock is down 28.7% at $62.11 at last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/07/39956385/sanofi-raises-2024-profit-outlook-on-strong-q2-earnings-blockbuster-drug-dupixent-sees-strong-dem" target="_blank" rel="noreferrer noopener">Sanofi Raises 2024 Profit Outlook On Strong Q2 Earnings, Blockbuster Drug Dupixent Sees Strong Demand</a>.</li>
</ul>

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Large Cap

Guidance

Health Care

Movers

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General

Edwards Lifesciences Stock Tumbles, Highlights Slowdown In TAVR Business

An Australian judge has dismissed a <a href="https://www.benzinga.com/news/large-cap/24/01/36842117/weedkiller-woes-australian-court-nears-decision-in-bayers-roundup-trial">class action lawsuit</a> alleging that Bayer AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>) Roundup weedkiller causes a type of blood cancer. This ruling is a significant victory for Bayer, facing numerous similar lawsuits in the United States.
Justice Michael Lee of Australia&#8217;s Federal Court ruled that the evidence was insufficient to link Roundup to non-Hodgkin&#8217;s lymphoma (NHL), a type of cancer that begins in the lymphatic system, part of the body&#8217;s germ-fighting immune system.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/06/39185732/judge-slashes-bayers-massive-2b-roundup-verdict-to-400m" rel="noreferrer noopener">Judge Slashes Bayer&#8217;s Massive $2B Roundup Verdict To $400M</a>.
The decision supports Bayer&#8217;s stance that Roundup, a glyphosate-based herbicide, is safe.
Reuters highlights the company asserts it &#8220;fully stands behind its glyphosate-based products, which have been used around the world for almost 50 years.&#8221;
The Australian class action suit united more than 1,000 claimants, marking one of approximately 40 cases outside the United States, primarily in Canada and Australia.
The lead claimant, Kelvin McNickle, 41, allegedly used Roundup for over two decades before developing NHL at 35.
Bayer has won 14 of the last 20 Roundup trials in the United States. However, a series of losses in late 2023 and early 2024 resulted in over $4 billion in damages awarded to plaintiffs, significantly impacting investor confidence.
Despite this recent win, Bayer still faces over 50,000 outstanding claims in the United States. A U.S. court recently denied Bayer&#8217;s request for an agreement to prevent future cases.
To mitigate litigation risks, Bayer has replaced glyphosate with new active ingredients in its household products in the U.S. while continuing to sell glyphosate-based weedkillers to farmers, who heavily rely on it.
In May, Bayer&#8217;s Monsanto unit secured a significant victory. A Washington state appeals court overturned a $185 million verdict against the company over chemical contamination at a <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/38593423/bayers-monsanto-scores-legal-victory-as-185m-verdict-overturned" rel="noreferrer noopener">Seattle-area school</a>.&nbsp;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/07/39958623/astrazeneca-posts-mixed-q2-earnings-still-raises-annual-guidance-on-strong-demand-for-cancer-rare" target="_blank" rel="noreferrer noopener">AstraZeneca Posts Mixed Q2 Earnings, Still Raises Annual Guidance On Strong Demand For Cancer, Rare Disease Medicines</a>.</li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Legal

BAYRY

BAYZF

Bayer Weedkiller Lawsuit Dismissed By Australian Judge: Insufficient Evidence Linking Roundup To Blood Cancer

Shares of Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) are volatile Thursday following a court ruling allowing the ride-share companies to treat drivers as contractors.
What Happened: The California Supreme Court ruled that Proposition 22, a 2020 ballot measure, is constitutional. This measure allows ride-hailing companies like Uber and Lyft to classify their drivers as independent contractors rather than employees<a href="https://www.wsj.com/business/uber-and-lyft-win-california-judgment-to-treat-drivers-as-contractors-e274cddf">.</a>
This decision is a crucial win for gig-economy companies, preserving their business model and avoiding the additional costs associated with classifying drivers as employees.
UBER, LYFT Price Action: Uber shares were up by 1.62% at $67.21 and LYFT shares were down by 1.86% at $12.15 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Image Via Shutterstock.

LYFT

UBER

Uber And LYFT Shares Are Volatile Today: What You Need To Know

U.S. Justice Dept Says U.S. Sues National General Holdings Corp And Subsidiaries For Falsely Placing Insurance On Hundreds Of Thousands Of Borrowers' Vehicles

Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares are trading higher today. The company reportedly inked a deal with Rai Way to implement its AI systems at the Italian firm&#8217;s data centers.
Oracle&#8217;s corporate clients will access its database, cloud, and disaster recovery solutions through Rai Way&#8217;s remote data centers, reported Reuters.
The companies noted that Rai Way&#8217;s remote data centers enhance cybersecurity by adding &#8220;a further layer of protection against any attempts by cyber-criminals to locate data geographically.&#8221;
Apart from this, Oracle inked a managed services agreement with a Saudi telecom operator Salam to support<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39955486/salam-taps-oracle-to-optimize-business-operations-and-innovate-with-new-service-offerings" rel="noreferrer noopener"> ongoing digital transformation</a>.
Using an Information and Communication Technology-focused approach, Oracle will help Salam boost operational efficiency, proactively address potential issues, and ensure seamless service delivery to customers.
Ahmed Al-Anqari, CEO of Salam, said, &#8220;As a Saudi-born company, Salam is at a digital transformation milestone in its journey. Our focus is on contributing to the advancement of KSA&#8217;s ICT sector by enhancing our managed services among many other strategic initiatives.&#8221;
This month, Oracle unveiled Exadata Exascale, a cloud-based data architecture enhancing performance&nbsp;for <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39746996/whats-going-on-with-oracle-stock-on-friday" rel="noreferrer noopener">Oracle Database workloads</a>.
ORCL stock has gained around&nbsp;19%&nbsp;in the last 12 months. Investors can gain exposure to the stock via&nbsp;Pacer Funds Pacer Data And Digital Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRFK#NYSE">TRFK</a>) and&nbsp;IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39317779/oracles-strategic-pivot-to-ai-and-cloud-computing-yields-market-cap-surge-report" rel="noreferrer noopener">Oracle&#8217;s Strategic Pivot To AI And Cloud Computing Yields Market Cap Surge: Report</a>
Price Action: ORCL shares are up 0.73% at $139.78 at the last check on Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Contracts

Media

ORCL

TRFK

What's Going On With Oracle Stock Thursday?

Stephens &amp; Co. analyst Scott Fidel reiterates Universal Health Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>) with a Equal-Weight and maintains $200 price target.

Stephens & Co. Reiterates Equal-Weight on Universal Health Servs, Maintains $200 Price Target

Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) has outperformed the market over the past 20 years by 1.49% on an annualized basis producing an average annual return of 9.79%. Currently, Starbucks has a market capitalization of $84.08 billion. 
Buying $1000 In SBUX: If an investor had bought $1000 of SBUX stock 20 years ago, it would be worth $6,389.49 today based on a price of $74.23 for SBUX at the time of writing.
<h3>Starbucks's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721932263_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SBUX

If You Invested $1000 In This Stock 20 Years Ago, You Would Have $6,400 Today

Domino's Pizza (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) has outperformed the market over the past 15 years by 18.05% on an annualized basis producing an average annual return of 30.08%. Currently, Domino's Pizza has a market capitalization of $14.85 billion. 
Buying $100 In DPZ: If an investor had bought $100 of DPZ stock 15 years ago, it would be worth $5,115.54 today based on a price of $424.59 for DPZ at the time of writing.
<h3>Domino's Pizza's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721932259_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 15 Years Ago, You Would Have $5,100 Today

ConocoPhillips's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) short percent of float has risen 13.14% since its last report. The company recently reported that it has 18.06 million shares sold short, which is 1.55% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.38 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>ConocoPhillips Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721932220_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for ConocoPhillips 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 ConocoPhillips'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>, ConocoPhillips's peer group average for short interest as a percentage of float is 6.44%, 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

(COP) - Analyzing ConocoPhillips's Short Interest

Sherwin-Williams's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) short percent of float has fallen 4.27% since its last report. The company recently reported that it has 3.65 million shares sold short, which is 1.57% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.36 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>Sherwin-Williams Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721932215_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Sherwin-Williams 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 Sherwin-Williams'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>, Sherwin-Williams's peer group average for short interest as a percentage of float is 3.47%, 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.

How Is The Market Feeling About Sherwin-Williams?

WIIM

GOOG

GOOGL

Google shares are trading lower after a report suggesting OpenAI will launch 'SearchGPT.'

Casella Waste Sys's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWST#NYSE">CWST</a>) short percent of float has risen 4.77% since its last report. The company recently reported that it has 2.36 million shares sold short, which is 4.17% of all regular shares that are available for trading. Based on its trading volume, it would take traders 8.03 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>Casella Waste Sys Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721932210_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Casella Waste Sys 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 Casella Waste Sys'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>, Casella Waste Sys's peer group average for short interest as a percentage of float is 3.19%, 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.

CWST

Looking Into Casella Waste Sys's Recent Short Interest

Stephens &amp; Co. analyst Tommy Moll reiterates Lennox Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) with a Overweight and maintains $675 price target.

Stephens & Co. Reiterates Overweight on Lennox Intl, Maintains $675 Price Target

Stephens &amp; Co. analyst Russell Gunther reiterates SouthState (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>) with a Equal-Weight and maintains $88 price target.

Stephens & Co. Reiterates Equal-Weight on SouthState, Maintains $88 Price Target

The cost of leasing <a href="https://www.benzinga.com/markets/equities/24/05/38635994/red-sea-disruptions-to-cut-shipping-capacity-by-15-20-in-q2-says-maersk">shipping containers</a> is rising.
What Happened: The average cost to ship a 40-foot container from China to the U.S. West Coast has jumped from $1,1765 in June to $1,534 in July and from $1,149 last month to $1,477 this month, data from online container leasing platform Container xChange showed.
&#8220;The recent volume increase and subsequent container price hikes, was primarily driven by the pulling forward of orders, raising questions about the strength of underlying demand,&#8221; Container xChange CEO Christian Roeloffs said.
&#8220;If this demand proves to be weak in the H2 of 2024, we could see container prices and freight rates momentum decline." 
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39940903/costco-is-in-prime-stock-split-territory-will-it-follow-walmarts-lead">Costco Is In Prime Stock Split Territory: Will It Follow Walmart&#8217;s Lead?</a>
Why It Matters: Carriers and leasing companies expect a further upswing in trade activity. 
There is concern that the surge in container demand is primarily driven by large retailers preemptively managing inventories for the peak season, rather than a robust demand recovery, Roeloffs said.
&#8220;Consequently, the likelihood of container prices sliding and stabilizing at a lower level is high,&#8221; he said.
&#8220;The recent stabilization of container prices in China aligns with our earlier forecast, suggesting that the peak of price hikes may have been reached or is nearing soon.&#8221;
Price Action: Triton International Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRTN#NYSE">TRTN</a>), a Bermuda-based container leasing company that is owned by Brookfield Infrastructure Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIP#NYSE">BIP</a>) declined 0.04% to $25.85 by Thursday&#8217;s early-afternoon trading.
Brookfield Infrastructure, a Canadian infrastructure management company, picked up 0.35% to $31.15.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39919456/mattel-reports-mixed-q2-results-eps-beat-sales-miss">Mattel Reports Mixed Q2 Results: EPS Beat, Sales Miss</a></li>
</ul>
Image: Shutterstock

Asia

Economics

Markets

TRTN

Container Rates Rise As Shippers Get A Jump On Peak Holiday Season

Stephens &amp; Co. analyst John Campbell reiterates Stewart Information Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STC#NYSE">STC</a>) with a Overweight and maintains $79 price target.

Stephens & Co. Reiterates Overweight on Stewart Information Servs, Maintains $79 Price Target

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining over 350 points on Thursday.
The Dow traded up 0.91% to 40,215.50 while the NASDAQ rose 0.59% to 17,444.67. The S&amp;P 500 also rose, gaining, 0.57% to 5,458.21.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39957788/jim-cramer-this-tech-stock-is-absolutely-terrific-but-jumia-its-not-making-a-lot-of-mone"> Jim Cramer: This Tech Stock Is &#8216;Absolutely Terrific,&#8217; But Jumia? It&#8217;s Not Making A Lot Of Money </a>
Leading and Lagging Sectors Industrials shares jumped by 1.8% on Wednesday.
In trading on Wednesday, utilities shares fell by 0.8%.
Top Headline
Northrop Grumman Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) reported better-than-expected second-quarter earnings and raised its guidance.
Northrop Grumman reported second-quarter fiscal 2024 sales growth of 7% year-over-year to $10.218 billion, beating the consensus of $10.018 billion. Second-quarter EPS was $6.36 compared to $5.34 a year ago, beating the consensus of $5.92.
For fiscal 2024, Northrop Grumman now expects sales of $41 billion-$41.4 billion (from $40.8 billion – $41.2 billion) versus the consensus of $41.139 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Goosehead Insurance, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSHD#NASDAQ">GSHD</a>) shares shot up 29% to $84.82 following upbeat second-quarter results.</li>
<li>Shares of Molina Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) got a boost, surging 15% to $331.04 following better-than-expected quarterly earnings.</li>
<li>Viking Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) shares were also up, gaining 30% to $65.44 after the company reported better-than-expected second-quarter EPS results. The company also announced the advancement of VK2735 to Phase 3.</li>
</ul>
Equities Trading DOWN
<ul>
<li>2U, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) shares dropped 62% to $1.5799 after the company filed for Chapter 11 bankruptcy to facilitate a Restructuring Support Agreement.</li>
<li>Shares of Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) were down 29% to $61.41 after the company reported worse-than-expected second-quarter sales results and issued third-quarter guidance below estimates. Also, the company acquired JenaValve and Endotronix.</li>
<li>MaxLinear, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXL#NASDAQ">MXL</a>) was down, falling 31% to $15.41 after the company reported worse-than-expected second-quarter financial results.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/07/39958830/top-3-defensive-stocks-that-are-ticking-portfolio-bombs">Top 3 Defensive Stocks That Are Ticking Portfolio Bombs</a>
Commodities In commodity news, oil traded up 0.9% to $78.32 while gold traded down 2.5% at $2,354.80.
Silver traded down 4.6% to $27.955 on Thursday, while copper rose 0.3% to $4.1215.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.72%, Germany's DAX fell 0.48% and France's CAC 40 fell 1.15%. Spain's IBEX 35 Index fell 0.58%, while London's FTSE 100 rose 0.40%.
Bank lending to households in the Eurozone rose by 0.3% year-over-year to €6.879 trillion in June. The Ifo Business Climate indicator for Germany fell for a third straight month to a reading of 87 in July from 88.6 in June. The manufacturing climate indicator in France declined to 95.5 in July from 98.9 in the prior month.
Asia Pacific Markets
Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 3.28%, Hong Kong's Hang Seng Index falling 1.77%, China's Shanghai Composite Index declining 0.52% and India's S&amp;P BSE Sensex declining 0.14%.
Imports to Hong Kong climbed 9% year-over-year to $429.2 billion, while exports from Hong Kong gained 10.7% to $373.5 billion in June. The People's Bank of China cut its one-year policy loan rate.
Economics
<ul>
<li>U.S. initial jobless claims declined by 10,000 to 235,000 in the week ending July 20, compared to market estimates of 238,000.</li>
<li>U.S. durable goods orders fell by 6.6% month-over-month in June.</li>
<li>The US economy grew by an annualized 2.8% in the second quarter, up from 1.4% in the prior quarter, and higher than expectations of 2%.</li>
<li>The EIA said U.S. natural-gas stocks increased 22 billion cubic feet during the week ended July 19, higher than market estimates of a 15 billion cubic feet gain.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/24/07/39958828/wall-streets-most-accurate-analysts-weigh-in-on-3-energy-stocks-with-over-6-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Energy Stocks With Over 6% Dividend Yields</a><a href="https://www.benzinga.com/news/24/07/39958828/wall-streets-most-accurate-analysts-weigh-in-on-3-energy-stocks-with-over-6-dividend-yields"> </a></li>
</ul>

Eurozone

Commodities

Intraday Update

GSHD

TWOU

VKTX

Gold Down 2.5%; Northrop Grumman Posts Upbeat Earnings

Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) shares are trading higher Thursday after the company announced the Teralynx 10 Ethernet switch device is in volume production with customer <a href="https://www.benzinga.com/pressreleases/24/07/n39957744/marvell-teralynx-10-51-2t-ethernet-switch-enters-volume-production-for-global-ai-cloud-deployments">deployments underway.</a>
The Details:
Marvell described the Teralynx 10 switch as a low power, programmable 51.2 Tbps Ethernet device with the industry&#8217;s lowest latency which delivers performance for training, inference, general-purpose compute and other workloads to scale accelerated infrastructure in cloud data centers.
Marvell also announced the <a href="https://www.benzinga.com/pressreleases/24/07/n39957925/marvell-announces-immediate-availability-of-open-ecosystem-software-for-teralynx-10-51-2t-switch">immediate availability</a> of the Teralynx switch in the Linux Foundation&#8217;s SONiC (Software for Open Networking in the Cloud) network operating system and said networking vendors can now use and deploy Teralynx 10-based systems in SONiC environments.
Read Next:<a href="https://www.benzinga.com/news/earnings/24/07/39944935/quantumscape-stock-falls-on-q2-results-heres-why"> QuantumScape Stock Falls On Q2 Results: Here&#8217;s Why</a>
&#8220;AI deployments require a switch solution which is simultaneously high bandwidth, low power, low latency, and future-proofed for evolving requirements. Marvell has delivered the most complete AI Ethernet switch solution available to the industry today, and we are pleased to deliver a production-ready solution for customers&#8217; expanding 51.2 Tbps deployments,&#8221; said Nick Kucharewski, senior vice president at Marvell.&nbsp;
Marvell shares fell nearly 6% Wednesday as the Nasdaq suffered its <a href="https://www.benzinga.com/news/earnings/24/07/39950906/nasdaq-s-p-500-record-worst-session-since-2022-amid-tesla-alphabet-selloff-investor-optimism-decrea">worst decline</a> since 2022 led by Tesla and Alphabet as investors showed disappointment in the latest earnings reports from the companies.&nbsp;According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Marvell shares are trading above the stock&#8217;s 50-day moving average of $71.36 and 5.1% of shares are being sold short.
<h2 class="wp-block-heading">MRVL Stock Prediction 2024: </h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Marvell Technology have an average 1-year price target of $88.80, representing an expected upside of 37.78%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Marvell Tech, while 9 analysts have bullish ratings. The street high price target from B. Riley Securities is $100, while the street low from Morgan Stanley is $77.
MRVL Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Marvell Technology shares are up 2.18% at $65.75 at the time of publication Thursday.
Read Also:
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<li><a href="https://www.benzinga.com/general/biotech/24/07/39944467/viking-therapeutics-stock-climbs-on-q2-eps-beat">Viking Therapeutics Stock Climbs On Q2 EPS Beat </a></li>
</ul>
Image: Shutterstock

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MRVL

What's Going On With Marvell Stock?

Stephens &amp; Co. analyst John Campbell reiterates First American Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAF#NYSE">FAF</a>) with a Overweight and maintains $66 price target.

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