Latest news for Arealink (OTC:ALNKF) Stock

Arealink Co Ltd is a Japan based company engages in the real estate business. The company provides space for the storage of daily living and general items; land, condominiums, and buildings as storage and office space; and business spaces, including small-scale offices, rental meeting rooms, galleries, and related facilities.

AREALINK CO LTD ORD by Arealink Co., Ltd.

Arealink Co Ltd

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will release its financial results for the second quarter, after the closing <a href="https://www.benzinga.com/quote/TSLA/earnings">bell on Tuesday, July 23</a>.
Analysts expect the Austin, Texas-based company to report quarterly earnings at 62 cents per share, down from 91 cents per share in the year-ago period. Tesla is expected to post revenue of $24.77 billion, compared to $24.93 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Canada recently granted the EV maker approval to use its steel-by-wire system in the country as required for testing. The technology, which does not meet the country's specification for minimum steering angle, is only available on the company's Cybertruck and not on any of its other offerings.
Tesla shares gained 5.2% to close at $251.51 on Monday.
Benzinga readers can access the latest analyst ratings on the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Mizuho analyst Vijay Rakesh maintained a Neutral rating and raised the price target from $180 to $230 on July 12. This analyst has an accuracy rate of 78%.</li>
<li>Wedbush analyst Daniel Ives reiterated an Outperform rating with a price target of $300 on July 11. This analyst has an accuracy rate of 76%.</li>
<li>Goldman Sachs analyst Mark Delaney maintained a Neutral rating and boosted the price target from $175 to $248 on July 10. This analyst has an accuracy rate of 73%.</li>
<li>Truist Securities analyst William Stein maintained a Hold rating with a price target of $162 on July 3. This analyst has an accuracy rate of 88%.</li>
<li>New Street Research analyst Pierre Ferragu maintained a Buy rating with a price target of $235 on June 25. This analyst has an accuracy rate of 78%.</li>
</ul>
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</ul>

Earnings

News

Price Target

Markets

Analyst Ratings

Trading Ideas

TSLA

Tesla Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Herc Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRI#NYSE">HRI</a>) reported second-quarter FY24 sales growth of 6% year-on-year to $848 million, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39901322/herc-holdings-reports-first-half-2024-results-and-reaffirms-2024-full-year-guidance" rel="noreferrer noopener">beating the analyst consensus estimate of $832.02 million.</a>
The revenue growth was due to an increase in equipment rental revenue of $63 million, reflecting positive pricing of 3.5% and increased volume of 6.4%.
Total expenses for the quarter increased 8% to $755 million. Adjusted EBITDA increased 2%, with the adjusted EBITDA margin compressing to 42.5%.
Adjusted EPS of $2.60 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the analyst consensus estimate of $2.91</a>.
Herc held $70 million in cash and equivalents as of June-end, with a total fleet of approximately $6.7 billion at OEC.&nbsp;
Operating cash flow for six months totaled $558 million, and the free cash flow was $148 million.
&#8220;Overall, our record&nbsp;second quarter&nbsp;revenue results came in according to our expectations. However, while national mega projects are on plan, we saw a greater deceleration in the local market&#8217;s growth trajectory versus our forecast, primarily driven by the persistently higher interest-rate environment,&#8221; said President and CEO Larry Silber.
Outlook Reaffirmed: Herc affirmed its FY24 equipment rental revenue growth guidance of 7% &#8211; 10% and adjusted EBITDA of $1.55 billion &#8211; $1.60 billion.
Price Action: HRI shares are trading higher by 2.20% at $147.44 on the last check Tuesday.

Equities

Guidance

General

Equipment Rental Firm Herc Posts Mixed Q2 Results As Local Market Growth Slows

Truist Securities analyst Joel Fishbein maintains CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) with a Buy and lowers the price target from $400 to $325.

CRWD

Truist Securities Maintains Buy on CrowdStrike Holdings, Lowers Price Target to $325

Wedbush analyst David Chiaverini maintains Zions Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) with a Neutral and raises the price target from $46 to $52.

ZION

Wedbush Maintains Neutral on Zions Bancorp, Raises Price Target to $52

Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) is introducing free overseas shipping on apparel orders through its flagship retail platform, Taobao, in a strategic move to compete with cross-border e-commerce rivals PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu and Shein.
The program will start on August 3 and initially target shoppers in Singapore, Malaysia, South Korea, Taiwan, Hong Kong, and Macao, Nikkei Asia <a target="_blank" href="https://asia.nikkei.com/Business/Retail/Alibaba-s-Taobao-takes-on-Temu-Shein-with-free-overseas-shipping#:~:text=Alibaba's%20Taobao%20takes%20on%20Temu%2C%20Shein%20with%20free%20overseas%20shipping,-Chinese%20platform%20aims&amp;text=HONG%20KONG%20%2D%2D%20Taobao%2C%20the,commerce%20rivals%20Temu%20and%20Shein." rel="noreferrer noopener">reports</a>.
Taobao plans to expand the program to additional Asian markets by the end of the year and is actively encouraging more merchants to participate.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39878618/whats-going-on-with-alibaba-and-other-chinese-stocks-on-monday" rel="noreferrer noopener">Chinese Stocks Rise as Central Bank Cuts Interest Rates to Stimulate Growth</a>
A senior manager at the company described the initiative as Taobao&#8217;s most strategic change this year.
<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/2024/07/23035130/newplot-1-12.png" alt="" class="wp-image-450458" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23035130/newplot-1-12.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23035130/newplot-1-12-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
It aims to address high return rates for apparel, particularly women&#8217;s clothing ordered during live-streaming events.
The new program will cover return costs, with items sent back to Taobao&#8217;s overseas warehouses, reducing the risk for sellers.
&#8220;Intense competition across various industries in China has resulted in low-profit margins for businesses, so we are helping some of the top-notch merchants on Taobao to explore overseas markets,&#8221; the senior manager said.
Taobao will subsidize shipping costs, requiring merchants to ship items only to Taobao&#8217;s warehouse in China. Alibaba&#8217;s logistics arm, Cainiao, will handle the remaining logistics.
Alibaba has lost nearly 21% in the last 12 months as it battled domestic e-commerce rivalry and strives to accomplish its artificial intelligence ambitions amid <a target="_blank" href="https://www.benzinga.com/government/24/07/39810709/whats-going-on-with-alibaba-and-peer-chinese-stocks-on-wednesday" rel="noreferrer noopener">U.S. sanctions on</a> China&#8217;s access to advanced semiconductor technologies.
Price Action: BABA shares were trading lower by 0.89% at $75.96 at the last check on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by BEAUTY STUDIO via Shutterstock

Emerging Markets

Tech

Media

BABA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Alibaba's Taobao Introduces Free Overseas Shipping to Compete with Rivals

WIIM

NBTB

NBT Bancorp shares are trading higher after the company reported better-than-expected Q2 sales results and increased its quarterly dividend from $0.32 to $0.34 per share.

EFSC

Enterprise Financial Services shares are trading higher after the company reported better-than-expected Q2 financial results.

Wedbush analyst David Chiaverini maintains BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) with a Neutral and raises the price target from $94 to $115.

BOKF

Wedbush Maintains Neutral on BOK Financial, Raises Price Target to $115

Ahead of second-quarter financial results, a Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) analyst says investors aren't focused on earnings, but rather what comes next <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39892255/tesla-q2-earnings-preview-analyst-estimates-key-items-to-watch-can-major-turning-po">after Tuesday's report.</a>
The Tesla Analyst: Guggenheim analyst Ronald Jewsikow reiterated a Sell rating on Tesla and $134 price target.
The Analyst Takeaways: Investors will be focused on what comes next for Tesla and not the past earnings, Jewsikow said.
Read Also:&nbsp;<a href="https://www.benzinga.com/exclusives/24/07/39886192/exclusive-tesla-an-elon-musk-and-a-technology-story-first-ev-story-last-market-strategist-explains-w" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Tesla ‘An Elon Musk And A Technology Story First, EV Story Last' — Market Strategist Explains Why To Buy The Stock</a>
The analyst said Tesla delaying the robotaxi event from Aug. 8 will be top of mind for investors.
"With the planned 8/8 event now formally delayed, investors will look for color on the new timeline, what to expect at the event and more details on the delay," Jewsikow said.
The delay in the Robotaxi event has led to investors seeing the segment as less actionable, according to the report.
The analyst said 2024 volume guidance could also be a key item to watch in the earnings report.
"We don't believe guiding for y/y volume growth is realistic, but we do not see CEO Elon Musk indicating negative volume growth as his forecast."
China and market share in the country could also be a key focus in the earnings report, the analyst said.
"How does TSLA return to growth with so much competitively priced product in China?"
The analyst expects Tesla to beat earnings per share estimates and miss on automotive gross margins (ex-credits) due to "large discounting actions."
Jewsikow currently ascribes no value to robotaxis, robots, artificial intelligence or insurance when forecasting a price target on Tesla.
TSLA Price Action: Tesla shares are down 1% to $249.25 on Tuesday versus a 52-week trading range of $138.80 to $278.98. Tesla stock is up 0.3% year-to-date in 2024, after gaining over 30% in the past month, as seen on the<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072324&amp;t=be2bearmibe3na1"> Benzinga Pro chart</a> below.
<figure class="wp-block-image size-full"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="997" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103257/Screenshot-78.png" alt="" class="wp-image-451622" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103257/Screenshot-78.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103257/Screenshot-78-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103257/Screenshot-78-768x385.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>
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Analyst Color

Previews

Reiteration

Tesla Analyst Asks 'Do Earnings Matter?' Ahead Of Q2 Report: Robotaxis, China, EV Guidance In Focus

Barrington Research analyst James Goss maintains Lions Gate Enter (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>) with a Outperform and maintains $12 price target.

Lions Gate Entertainment Corporation Class A Voting Shares

LGF/A

Barrington Research Maintains Outperform on Lions Gate Enter, Maintains $12 Price Target

Did you know that residential fires in the USA cost $10.8 billion in 2022 alone? A new hempcrete wall product, recently rated for one-hour fire resistance, could help reduce these staggering losses.
<h2>Americhanvre Cast Hemp Achieves Milestone</h2>
A wall product produced by Americhanvre Cast Hemp using easy spray<a href="https://www.benzinga.com/markets/cannabis/22/02/25762696/is-hempcrete-the-new-green-construction-material-it-could-soon-be-approved-as-just-that">&nbsp;hempcrete</a> has received a one-hour fire resistance rating from ASTM International. In a July 15 Facebook <a href="https://www.facebook.com/Americhanvre/posts/pfbid02pHmNFYmkWfGFJSVD6UqNU2oaW8nrJfJ8HSXtvEd9Bx3P465SKjffkSC7aYhUyoBjl">post</a>, the&nbsp;Pennsylvania-based company announced it is &quot;the first time a full-scale ASTM E119 test has been performed on a hempcrete wall section.&quot;
<h3>House Fires In The USA</h3>
In 2022, there were 374,300 residential building fires in the USA, resulting in 2,720 deaths, 10,250 injuries, and $10.8 billion in property losses. Over ten years (2013-2022), the USFA reported residential fires decreased by 4%, while deaths increased by 1%. Cooking was the leading cause of home fires in 2022, <a href="https://www.usfa.fema.gov/statistics/residential-fires/">accounting for</a> 47.5% of incidents.
<h2>Understanding The ASTM E119 Test</h2>
The <a href="https://www.astm.org/e0119-20.html">ASTM E119 test </a>evaluates how long building elements can contain a fire and retain structural integrity during a predetermined test exposure. Americhanvre noted that this successful test could unlock larger-scale commercial projects for the Ereasy system in the United States.
Also read:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/06/39559684/how-south-dakota-became-the-uss-top-hemp-producer-in-just-three-years">How South Dakota Became The US&#39;s Top Hemp Producer In Just Three Years</a>
<h3>Test Details And Results</h3>
The product tested was a 12-inch-thick wall assembly using the Ereasy <a href="https://www.benzinga.com/topic/hempcrete">hempcrete system</a>, with lime plaster on both faces. The panel remained undamaged through a one-hour firing at 1700 degrees Fahrenheit and a subsequent hose stream test. It did not rise above ambient temperature, as calculated by Verdant Structural.
<h3>Future Implications For Hempcrete</h3>
In 2023, <a href="https://www.benzinga.com/general/biotech/24/02/37271000/u-s-army-invests-1-9m-to-develop-hemp-manufactured-buildings-for-military-operations">hempcrete</a> was approved as a non-structural wall infill system for the model U.S. residential building code by the International Code Council. The International Building Code might consider <a href="https://www.benzinga.com/topic/hemp">hempcrete</a> for commercial projects next year.
<h3>Significance Of The ASTM E119 Test</h3>
The ASTM E119 test measures the fire resistance of building materials by exposing them to controlled fire conditions. It assesses how long materials can contain a fire and maintain structural integrity. This test includes applying a standard fire hose stream to evaluate the material&#39;s resistance to both fire and water, crucial for predicting performance in real-world scenarios.
Also read:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/07/39690898/no-more-getting-high-on-hemp-in-america-multiple-states-begin-intoxicating-hemp-crackdown">No More Getting High On Hemp In America? Multiple States Begin Intoxicating Hemp Crackdown</a>
These issues will be among the hot topics at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the&nbsp;industry. Hear directly from top executives, investors, advocates, and policymakers.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">Get your tickets now</a>&nbsp;before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">this link</a>.
Photo: AI-Generated Image.

Biotech

Cannabis

Entrepreneurship

Legal

Success Stories

Startups

Small Business

The Wall That Can Withstand 1700°F And Cut $10B In Losses: Fire-Resistant Hempcrete Now Certified

Wedbush analyst Alicia Reese maintains AMC Enter Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) with a Neutral and raises the price target from $3.5 to $4.

Wedbush Maintains Neutral on AMC Enter Hldgs, Raises Price Target to $4

CORRECTION: Former President Jimmy Carter Has Not Died

Owens & Minor shares are trading higher after the company reported preliminary Q2 financial results and issued FY24 guidance. The company entered into a definitive agreement to acquire Rotech Healthcare Holdings.

KREF

KKR Real Estate Finance Trust shares are trading higher after the company reported better-than-expected Q2 financial results.

Real estate analytics point to potential investment opportunities in Colorado, particularly in the popular Denver metro area. Nick Gerli, CEO of Reventure, a real estate analytics tool, highlighted on Wednesday that the price cut rate in Denver has reached 42% of all listings in June, the second-highest on record.
&#8220;Price cuts are getting ugly in certain housing markets,&#8221; Gerli said in a Wednesday tweet. &#8220;Nearly half of sellers are feeling pressure to reduce the price. A clear indication of a declining market.&#8221;
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The trend isn&#8217;t isolated to Denver. Colorado Springs tops the list with a 45% price cut rate, Gerli said, indicating heavy downward pressure on home prices. Other markets seeing similar trends <a href="https://www.benzinga.com/real-estate/24/06/39529294/house-prices-in-pandemic-era-boom-towns-are-going-bust-as-prices-fall">include pandemic boomtowns</a> like Austin, Huntsville, Tampa, Dallas, and Jacksonville.
However, the Colorado Association of Realtors paints a more nuanced picture. While inventory has indeed increased – up 24.3% for single-family homes in the Denver metro area compared to a year ago – median prices are still daunting for many, which has triggered price reductions in the state's major metro areas. The median price for single-family homes in the Denver metro area is $637,000, up just over 1% year-over-year. Interestingly, Gerli&#8217;s data reveals variation within metro areas. In Denver, some ZIP codes surrounding the urban core see up to 55% of sellers cutting prices, while others on the east side show only 25% doing so.
&#8220;The tables are starting to turn for buyers and sellers in Boulder and Broomfield counties," Kelly Moye, a Boulder-area realtor, noted in a report. "New listings continue to hit the market, and buyers remain watchful and waiting.&#8221;
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The discrepancy between high inventory and sustained prices indicates a market dynamic waiting for flux. Patrick Muldoon, a Colorado Springs-area realtor, warns of broader economic factors. &#8220;Are we entering a corrective phase? It appears many indicators are pointing in that direction,&#8221; he said, citing manufacturing contraction and concerns in the commercial real estate market.
The current market conditions present a dichotomy: while <a href="https://www.benzinga.com/real-estate/24/07/39646579/buyers-market-is-emerging-as-homes-sell-below-list-price-for-first-time-since-pandemic">price cuts suggest a buyer&#8217;s market</a>, sustained high prices indicate ongoing seller strength. The tension creates potential opportunities for savvy investors who can navigate the localized nature of the trends.
However, challenges remain. The CAR Housing Affordability Index remains near all-time lows, down 4.4% in the metro area compared to last year, the Colorado Association of Realtors said. High interest rates, rising insurance costs, and property tax hikes impact buyer behavior.
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</ul>

Real Estate

Colorado's Housing Market May Be Investable As 'Price Cut Rate Just Hit 42%,' Suggests Market Executive

Service Includes Comprehensive Generative AI Model Features And NVIDIA NeMo Retriever Microservices For Accurate Responses; Accenture, Aramco, AT&amp;T, Uber Among First To Access New Service

NVDA

UBER

NVIDIA Announces AI Foundry Service To Enable Enterprises And Nations To Build Custom 'Supermodels' Using Llama 3.1 405B And NVIDIA Nemotron Models

Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) is set to open a new open-pit mine at the historic Stobie mine site in Sudbury, Ontario. The original underground mine operated from 1914 to 2017, producing over 375 million tons of nickel and <a href="https://www.benzinga.com/topic/copper">copper ore</a>.
Vale's Toronto-based base metal arm expects that the open pit project will cost $149 million over the next four years. The initial production target is 300,000 tons of nickel and copper this year, ramping up to 1.5 million tons by 2025. Additionally, the mine will yield valuable byproducts, including cobalt and precious metals.
Now read: <a href="https://www.benzinga.com/markets/commodities/24/07/39894211/liberty-gold-ceo-remains-bullish-but-political-developments-will-influence-markets-direction">Liberty Gold CEO Remains Bullish, But &#8216;Political Developments Will Influence Market&#8217;s Direction&#8217;</a>
&#8220;This is a $149 million project that marks a new era of cooperation and partnership," said Vale Base Metals' Director of Ontario Operations, Gord Gilpin <a href="https://www.thesudburystar.com/news/local-news/vale-engages-partners-for-open-pit-mine-at-stobie">per</a> The Sudbury Star. He praised the involvement of local contractors, including indigenous businesses and the United Steelworkers Union (USW).
"This project is not just about mining. It is about creating sustainable and inclusive growth," he added.
Mining contractor Thiess will oversee the Stobie alongside USW&#8217;s Local 6500 outlet, which has more than 2600 members in the Sudbury area alone.
&#8220;We will have approximately 62 to 80 new members during the lifetime of this project,&#8221; said Nick Larochelle, president of USW Local 6500. Larochelle highlighted that the jobs created include excavator operators, dozer operators, haulage truck drivers, and maintenance workers.
The project will fall under the oversight of Shaun Usmar, a veteran mining executive who has been appointed as Vale's <a href="https://vale.com/w/vale-base-metals-appoints-shaun-usmar-as-new-chief-executive-officer-1/-/categories/1968806">new base metals boss</a>. Usmar brings over 30 years of industry experience, most recently serving as founder and CEO of Triple Flag Precious Metals. His extensive background includes key roles at Barrick Gold Corp., Xstrata Plc, and BHP Billiton, and now he'll oversee Vale's Canadian, Brazilian and Indonesian base metal operations.
Last year, the company separated nickel and copper operations from its iron ore business, looking to streamline its operations.
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</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
Photo: Shutterstock

Large Cap

Commodities

VALE

Vale Invests $149M In Canadian Nickel-Copper Mine, Projects 1.5 Million Tons Output By 2025

Snowflake's AI Research Team, in collaboration with the open source community, launches a Massive LLM Inference and Fine-Tuning System Stack — establishing a new state-of-the-art solution for open source inference and fine-tuning systems for multi-hundred billion parameter models like Llama 3.1 405B

Contracts

SNOW

Snowflake, Meta Partner To Optimize New Flagship Model Family In Snowflake Cortex AI

Moody&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) shares are trading lower after reporting <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39902219/moodys-corporation-reports-results-for-second-quarter-2024" rel="noreferrer noopener">second-quarter results.</a>
The company reported <a target="_blank" href="https://s203.q4cdn.com/694693571/files/doc_financials/2024/q2/2Q24-Earnings-Release-vFINAL.pdf" rel="noreferrer noopener">quarterly </a>adjusted earnings per share of $3.28, beating the street view of $3.02. Quarterly sales of $1.817 billion,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> beating the street view of $1.725 billion.</a>
&#8220;The 22% growth in revenue is driving a 21% increase in operating cash flow, enabling us to raise share repurchase guidance to $1.3 billion,&#8221; said Chief Financial Officer Noémie Heuland.
Moody&#8217;s Analytics revenue grew 7% from the prior-year period reflecting strong demand for Moody&#8217;s proprietary data and unique analytical insights. Moody&#8217;s Investors Service (MIS) achieved 36% revenue growth from the prior-year period.
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The company&#8217;s adjusted operating margin was 49.6%, up 590 basis points from the prior-year period.
On July 22, 2024, the Board of Directors declared a regular quarterly dividend of $0.85 per share of MCO Common Stock.
The dividend will be payable on September 6 to stockholders of record at the close of business on August 16.
Outlook: Moody&#8217;s Corp raised its FY24 adjusted EPS outlook to $11.00-$11.40 (prior $10.40-$11.00) versus the $11.02 estimate.
The company projects revenues to increase in the low-teens percent range (prior: high-single-digit to low-double-digit percent range) versus $6.63 billion estimate.
Price Action: MCO shares are trading higher by 0.65% to $453.27 at last check Tuesday.
Photo via Shutterstock
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