Latest news for Apex Critical Metals (OTC:APXCF) Stock

Apex Critical Metals Corp formerly Eagle Bay Resources Corp is in the business of acquiring, exploring, developing and evaluating mineral resource properties. The Company is in the exploration stage and has interests in properties located in British Columbia, Canada.

APEX CRITICAL MTALS CORP by APEX CRITICAL METALS CORP.

Apex Critical Metals Corp

News

Hemisphere GNSS Purchased By CNH Industrial In 2023; Hemisphere GNSS To Pay $2.6M To Settle False Claims Act Allegations Relating To Improper Paycheck Protection Program

<p>Canaccord Genuity  analyst Yewon Kang   assumes SNDL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) with a Speculative Buy rating and announces Price Target of $3.25.</p>


Price Target

Initiation

Analyst Ratings

SNDL

Canaccord Genuity Assumes SNDL at Speculative Buy, Announces Price Target of $3.25

<p>Canaccord Genuity  analyst Yewon Kang   assumes OrganiGram Holdings (TSX:<a class="ticker" href="https://www.benzinga.com/stock/OGI#TSX">OGI</a>) with a Speculative Buy rating and announces Price Target of C$3.25.</p>


TSX:OGI

Canaccord Genuity Assumes OrganiGram Holdings at Speculative Buy, Announces Price Target of C$3.25

<p><strong>Stardust Power Inc. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDST#NASDAQ">SDST</a>) shares saw a significant increase on Wednesday. Here&#8217;s <a href="https://www.benzinga.com/pressreleases/24/07/g39675394/stardust-power-closes-business-combination-and-set-to-begin-trading-on-nasdaq">what you need to know.</a></p>
<p><strong>What To Know: </strong>The company began trading on the Nasdaq Global Market on July 9 under the ticker symbol &#8220;SDST&#8221; following the closing of business combination with <strong>Global Partner Acquisition Corp</strong> II (GPAC II).</p>
<p>\Stardust Power, an American manufacturer of battery-grade lithium products, is focused on developing a lithium refinery in Muskogee Oklahoma, with an anticipated capacity of 50,000 tonnes per annum by 2030.</p>
<p>CEO Roshan Pujari highlighted the company&#8217;s importance in bolstering U.S. lithium production, aligning with national security priorities and tapping into significant state and federal incentives.</p>
<h3 class="wp-block-heading">How To Buy Stardust Stock?</h3>
<p>For <strong>Stardust Power</strong>, which is trading at $23.98 as of publishing time, $100 would buy you 4.17 shares of stock.</p>
<p>If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.</p>
<p><strong>SDST Price Action: </strong>Stardust shares were up by 148% 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="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071724&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener"><img loading="lazy" decoding="async" width="1024" height="536" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17135808/SDST-1024x536.png" alt="" class="wp-image-441461" style="width:523px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17135808/SDST-1024x536.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17135808/SDST-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17135808/SDST-768x402.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17135808/SDST.png 1090w" 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/24/07/39822708/why-lam-research-lrcx-shares-are-falling">Why Lam Research (LRCX) Shares Are Falling</a></strong></li>
</ul>
<p><em>Image via Shutterstock.</em></p>



Movers

SDST

Stardust Power Shares Are Up By More Than 100%: What's Going On

WIIM

AAON

AMSC

CHPT

FTAI

HUBB

IESC

INOD

JOBY

LOAR

PEGY

PLUG

REVG

ROAD

SPXC

SRFM

STRL

Shares of stocks within the broader industrial sector are trading lower amid overall market weakness

<p>High-rolling investors have positioned themselves bearish on Humana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</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 HUM often signals that someone has privileged information.</p>
<p>Today, Benzinga's options scanner spotted 25 options trades for Humana. This is not a typical pattern.</p>
<p>The sentiment among these major traders is split, with 36% bullish and 44% bearish. Among all the options we identified, there was one put, amounting to $27,540, and 24 calls, totaling $1,827,812.</p>
<h3>Projected Price Targets</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $340.0 to $500.0 for Humana over the recent three months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Humana's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Humana's whale trades within a strike price range from $340.0 to $500.0 in the last 30 days. </p>
<h3>Humana 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721244678_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 style="text-align: right;"><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>HUM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$30.2</td>
<td>$28.0</td>
<td>$28.3</td>
<td>$370.00</td>
<td>$141.2K</td>
<td style="text-align: right;">304</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>HUM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$29.5</td>
<td>$26.3</td>
<td>$27.38</td>
<td>$370.00</td>
<td>$136.9K</td>
<td style="text-align: right;">304</td>
<td style="text-align: right;">150</td>
</tr>
<tr>
<td>HUM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>07/26/24</td>
<td>$29.5</td>
<td>$26.2</td>
<td>$27.0</td>
<td>$370.00</td>
<td>$135.4K</td>
<td style="text-align: right;">304</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>HUM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$30.7</td>
<td>$25.3</td>
<td>$27.0</td>
<td>$370.00</td>
<td>$135.0K</td>
<td style="text-align: right;">304</td>
<td style="text-align: right;">250</td>
</tr>
<tr>
<td>HUM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$59.5</td>
<td>$58.2</td>
<td>$59.5</td>
<td>$360.00</td>
<td>$130.9K</td>
<td style="text-align: right;">96</td>
<td style="text-align: right;">2</td>
</tr>
</tbody>
</table>
</p>
<h3>About Humana</h3>
<p>Humana is one of the largest private health insurers in the us with a focus on administering Medicare Advantage plans. The firm has built a niche specializing in government-sponsored programs, with nearly all its medical membership stemming from individual and group Medicare Advantage, Medicaid, and the military's Tricare program. The firm is also a leader in stand-alone prescription drug plans for seniors enrolled in traditional fee-for-service Medicare. Beyond medical insurance, the company provides other healthcare services, including primary-care services, at-home services, and pharmacy benefit management.</p>
<h3>Where Is Humana Standing Right Now?</h3>
<ul>
<li>With a trading volume of 1,318,296, the price of HUM is up by 1.97%, reaching $403.41.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 14 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Humana</h3>
<p>A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $388.6666666666667.</p>
<ul>
<li>In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $392. </li>
<li>An analyst from Morgan Stanley downgraded its action to Equal-Weight with a price target of $374. </li>
<li>An analyst from Truist Securities persists with their Hold rating on Humana, maintaining a target price of $400. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Humana, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Options

Markets

Humana Unusual Options Activity For July 17

<p>Investors with a lot of money to spend have taken a bearish stance on <strong>Axon Enterprise</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AXON, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 11 uncommon options trades for Axon Enterprise.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 36% bullish and 54%, bearish.</p>
<p>Out of all of the special options we uncovered, 2 are puts, for a total amount of $67,520, and 9 are calls, for a total amount of $597,315.</p>
<h3>Projected Price Targets</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $195.0 to $480.0 for Axon Enterprise over the recent three months. </p>
<h3>Volume &amp; Open Interest Development</h3>
<p>In terms of liquidity and interest, the mean open interest for Axon Enterprise options trades today is 77.64 with a total volume of 16.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Axon Enterprise's big money trades within a strike price range of $195.0 to $480.0 over the last 30 days.</p>
<h3>Axon Enterprise Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721244673_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</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 style="text-align: right;"><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>AXON</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$20.2</td>
<td>$19.9</td>
<td>$20.0</td>
<td>$330.00</td>
<td>$200.0K</td>
<td style="text-align: right;">465</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>AXON</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$61.8</td>
<td>$60.0</td>
<td>$60.0</td>
<td>$270.00</td>
<td>$90.0K</td>
<td style="text-align: right;">13</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>AXON</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$17.9</td>
<td>$17.6</td>
<td>$17.73</td>
<td>$480.00</td>
<td>$79.7K</td>
<td style="text-align: right;">47</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>AXON</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$121.2</td>
<td>$118.0</td>
<td>$119.09</td>
<td>$200.00</td>
<td>$59.5K</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>AXON</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$45.6</td>
<td>$44.4</td>
<td>$44.4</td>
<td>$340.00</td>
<td>$44.4K</td>
<td style="text-align: right;">32</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
</p>
<h3>About Axon Enterprise</h3>
<p>Axon Enterprise Inc develops, manufactures, and sells conducted energy devices and cloud-based digital evidence management software designed for use by law enforcement, corrections, military forces, private security personnel, and private individuals for personal defense. The company operates in two segments: Taser and software &amp; sensors. Taser develops and sells CEDs used for protecting users and virtual reality training. Software and sensors manufacture fully integrated hardware and cloud-based software solutions such as body cameras, automated license plate reading, and digital evidence management systems. Axon delivers its products worldwide and derives the majority of its revenue from the software &amp; sensors segment and geographically from the United States.</p>
<h3>Where Is Axon Enterprise Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 467,950, the AXON's price is up by 0.08%, now at $319.67. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 20 days.</li>
</ul>
<h3>What The Experts Say On Axon Enterprise</h3>
<p>2 market experts have recently issued ratings for this stock, with a consensus target price of $382.5.</p>
<ul>
<li>An analyst from B of A Securities has revised its rating downward to Buy, adjusting the price target to $380. </li>
<li>In a cautious move, an analyst from Jefferies downgraded its rating to Buy, setting a price target of $385. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Axon Enterprise, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


AXON

Axon Enterprise Unusual Options Activity

<p>Investors with a lot of money to spend have taken a bearish stance on <strong>M&amp;T Bank</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MTB, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for M&amp;T Bank.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 22% bullish and 66%, bearish.</p>
<p>Out of all of the special options we uncovered, 3 are puts, for a total amount of $161,980, and 6 are calls, for a total amount of $235,663.</p>
<h3>Expected Price Movements</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $180.0 for M&amp;T Bank during the past quarter. </p>
<h3>Volume &amp; Open Interest Development</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 M&amp;T Bank's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across M&amp;T Bank's significant trades, within a strike price range of $140.0 to $180.0, over the past month.</p>
<h3>M&amp;T Bank Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721244668_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</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 style="text-align: right;"><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>MTB</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.2</td>
<td>$150.00</td>
<td>$85.5K</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>MTB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$13.8</td>
<td>$13.5</td>
<td>$13.5</td>
<td>$155.00</td>
<td>$81.0K</td>
<td style="text-align: right;">224</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>MTB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$13.8</td>
<td>$13.2</td>
<td>$13.2</td>
<td>$175.00</td>
<td>$39.6K</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>MTB</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$1.45</td>
<td>$1.2</td>
<td>$1.45</td>
<td>$160.00</td>
<td>$39.4K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">33</td>
</tr>
<tr>
<td>MTB</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.8</td>
<td>$3.4</td>
<td>$3.7</td>
<td>$140.00</td>
<td>$37.0K</td>
<td style="text-align: right;">111</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
</p>
<h3>About M&amp;T Bank</h3>
<p>M&amp;T Bank is one of the largest regional banks in the United States, with branches in New York, Pennsylvania, West Virginia, Virginia, Maryland, Delaware, and New Jersey. The bank was founded to serve manufacturing and trading businesses around the Erie Canal and is primarily focused on commercial real estate and commercial-related lending, with some retail operations also present.</p>
<p>In light of the recent options history for M&amp;T Bank, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Where Is M&amp;T Bank Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 631,684, with MTB's price up by 0.99%, positioned at $164.74.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 1 days.</li>
</ul>
<h3>Expert Opinions on M&amp;T Bank</h3>
<p>Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $165.75.</p>
<ul>
<li>Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on M&amp;T Bank with a target price of $164. </li>
<li>An analyst from Jefferies has decided to maintain their Hold rating on M&amp;T Bank, which currently sits at a price target of $161. </li>
<li>An analyst from Keefe, Bruyette &amp; Woods persists with their Market Perform rating on M&amp;T Bank, maintaining a target price of $170. </li>
<li>Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on M&amp;T Bank with a target price of $168. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for M&amp;T Bank, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Smart Money Is Betting Big In MTB Options

<p>Extra Space Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXR#NYSE">EXR</a>) has outperformed the market over the past 20 years by 5.32% on an annualized basis producing an average annual return of 13.84%. Currently, Extra Space Storage has a market capitalization of $34.89 billion. </p>
<p><strong>Buying $1000 In EXR:</strong> If an investor had bought $1000 of EXR stock 20 years ago, it would be worth <strong>$13,360.00</strong> today based on a price of $164.81 for EXR at the time of writing.</p>
<h3>Extra Space Storage's Performance Over Last 20 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721244628_0.png" alt="comp_fig" /></p>
<p>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.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Trading Ideas

Here's How Much You Would Have Made Owning Extra Space Storage Stock In The Last 20 Years

<p>The Federal Reserve&#8217;s latest Beige Book, covering late May through early July, showcases ongoing slight to modest economic <a href="https://www.benzinga.com/topic/macro-economic-events">growth in most Districts. </a></p>
<p>However, the report reveals seven Districts noting growth while five experiencing flat or declining activity, marking an uptick in Districts with stagnant or reduced economic performance compared <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/39072594/fed-beige-book-shows-modest-economic-expansion-ahead-of-key-gdp-inflation-data-re">to the previous period.</a></p>
<p>Household spending has remained largely unchanged during the period. &#8220;It looks like the economy will experience that soft landing as pricing pressures ease and consumers moderate spending patterns,&#8221; <strong>Jeffrey Roach</strong>, chief economist for<strong> </strong>LPL Financial, commented. </p>
<p>Roach anticipates businesses becoming more selective in their hiring, potentially leading to smaller payrolls. He advises investors to focus on new orders, unemployment claims, and select commodity prices as leading indicators of future economic growth.</p>
<h3 class="wp-block-heading">Key Insights from July&#8217;s Fed Beige Book</h3>
<h4 class="wp-block-heading">Consumer Spending and Retail</h4>
<ul>
<li><strong>Overall Activity</strong>: Household spending was steady, with varied consumer behavior across different regions.</li>
<li><strong>Auto Sales</strong>: The automotive sector showed mixed results, hindered by a cyberattack on dealerships and persistently high interest rates.</li>
<li><strong>Travel and Tourism</strong>: This sector continued its steady growth, aligning with seasonal expectations.</li>
</ul>
<h4 class="wp-block-heading">Manufacturing and Services</h4>
<ul>
<li><strong>Nonfinancial Services</strong>: Service demand saw slight growth, with regional variations.</li>
<li><strong>Manufacturing</strong>: Activity ranged from moderate growth to noticeable declines, reflecting broader economic uncertainties.</li>
<li><strong>Transportation</strong>: Retail restocking efforts contributed to a slight increase in transportation activity, but tight capacity in ocean shipping drove up spot rates.</li>
</ul>
<h4 class="wp-block-heading">Lending and Real Estate</h4>
<ul>
<li><strong>Credit Standards</strong>: Most Districts reported subdued demand for consumer and business loans, influenced by tight credit conditions.</li>
<li><strong>Housing Market</strong>: Residential and commercial real estate markets showed only slight changes, with some regions reporting stabilization and others noting continued softness.</li>
</ul>
<h4 class="wp-block-heading">Energy and Agriculture</h4>
<ul>
<li><strong>Energy Activity</strong>: The sector&#8217;s performance varied by region.</li>
<li><strong>Agriculture</strong>: Conditions were mixed, influenced by sporadic droughts and other environmental factors.</li>
</ul>
<h4 class="wp-block-heading">Labor Markets</h4>
<ul>
<li><strong>Employment</strong>: Overall, employment levels increased slightly. However, certain sectors, particularly manufacturing, saw declines due to reduced new orders.</li>
<li><strong>Labor Availability</strong>: There was a reported improvement in labor supply across most Districts, although skilled-worker shortages persisted.</li>
<li><strong>Wage Growth</strong>: Wages grew at a modest to moderate pace, with some slowing observed due to increased worker availability and reduced competition for employees.</li>
</ul>
<h4 class="wp-block-heading">Prices</h4>
<ul>
<li><strong>Price Increases</strong>: Prices generally rose at a modest pace, with several Districts highlighting consumer resistance to higher prices, leading to narrower profit margins.</li>
<li><strong>Retail Discounts</strong>: Retailers continued to offer discounts to attract cost-conscious consumers.</li>
<li><strong>Input Costs</strong>: While most Districts reported stabilizing input costs, Atlanta noted significant increases in prices for copper and electrical supplies.</li>
</ul>
<h4 class="wp-block-heading">Notable District Developments</h4>
<ul>
<li><strong>Boston: </strong>Modest growth with slight price and wage increases. Residential real estate improved; commercial activity flat.</li>
<li><strong>New York: </strong>Stable activity with easing labor market. Slight increases in consumer spending and inventory; home sales constrained.</li>
<li><strong>Philadelphia:</strong> Slight growth driven by nonmanufacturing sector. Modest wage and price inflation; mixed future growth expectations.</li>
<li><strong>Cleveland:</strong> Slight decline in activity. Consumer spending and demand for manufactured goods softened.</li>
<li><strong>Richmond: </strong>Slight growth with modest consumer spending and increased leisure travel. Wage growth outpaced price growth.</li>
<li><strong>Atlanta: </strong>Flat activity with stable labor markets and eased wage growth. Mixed trends in transportation and energy.</li>
<li><strong>Chicago: </strong>Slight growth with modest employment and wage increases. Slight rises in consumer and business spending; manufacturing and construction declined.</li>
<li><strong>St. Louis</strong>: Slight growth with mixed consumer spending. Stable agriculture due to high rainfall.</li>
<li><strong>Minneapolis</strong>: Slight decline with moderate wage pressures. Mixed consumer spending and improvements in construction.</li>
<li><strong>Kansas City</strong>: Moderate growth driven by robust consumer spending. Stable employment; strong labor market-supported wage growth.</li>
<li><strong>Dallas: </strong>Slight growth led by nonfinancial services, finance, and energy. Weaker housing demand and retail sales; stable manufacturing.</li>
<li><strong>San Francisco</strong>: Stable activity and employment with slight wage and price growth. Declines in retail sales; mixed trends in services, manufacturing, and real estate.</li>
</ul>
<p>Read now: </p>
<ul>
<li><strong><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39823332/nasdaq-100-suffers-worst-day-in-11-months-as-chipmakers-tumble-on-china-curbs-magnificent-">Nasdaq 100 Suffers Worst Day In 11 Months As Chipmakers Tumble On China Curbs; Magnificent 7 Wipe Out $500B : What&#8217;s Driving Markets Wednesday?</a></strong></li>
</ul>
<p><em>Image created using artificial intelligence via Midjourney.</em></p>


Analyst Color

Macro Economic Events

Topics

Econ #s

Economics

Federal Reserve

July Fed Beige Book Shows More Underperforming Districts: 'The Economy Will Experience That Soft Landing'

<p><strong>U.S. Silica Holdings, Inc. </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slca#NYSE">SLCA</a>) announced the shareholder approval of its acquisition by funds managed by affiliates of Apollo, a premier investment firm. This all-cash transaction was approved during a special meeting of the company&#39;s stockholders on Jul 16, 2024. The closing of the Merger is subject to the terms and conditions outlined in the agreement, with an expected completion before the end of the current quarter.</p>
<p>At the Special Meeting, approximately 78% of the company&#39;s outstanding shares were voted on, with over 75% approving the merger. The company plans to file the final voting results in a Current Report on Form 8-K with the SEC.</p>
<p>U.S. Silica, in April 2024, announced that its shareholders would receive $15.50 in cash per share of common stock at the time of the deal&#39;s closure. Following the transaction&#39;s completion, the company will go private and be delisted from the New York Stock Exchange. However, U.S. Silica will continue to operate under the same name and brand, led by its current CEO and executive team.</p>
<p>U.S. Silica&#39;s shares are up 19.3% in the past year compared with a 1.4% fall in the&nbsp;industry.</p>
<p><img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a0/71576.jpg?v=1838178360" /></p>
<p>Image Source: Zacks Investment Research</p>
<p>SLCA recorded first-quarter adjusted earnings of 20 cents per share, down from 64 cents in the year-ago quarter, missing the Zacks Consensus Estimate of 21 cents. The company reported revenues of $325.9 million, down approximately 26% year over year and lagging the Zacks Consensus Estimate of $338.5 million.</p>
<div class="chart_embed">
<h3>U.S. Silica Holdings, Inc. Price and Consensus</h3>
<p><img alt="U.S. Silica Holdings, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/14/1721203423.png" style="height:265px; width:576px" title="" /></p>
<p><span style="font-size:13px">U.S. Silica Holdings, Inc. price-consensus-chart</span><span style="font-size:13px"> | U.S. Silica Holdings, Inc. Quote</span></p>
</div>
<h3>Zacks Rank &amp; Key Picks</h3>
<p>U.S. Silica currently carries a Zacks Rank #3 (Hold).</p>
<p>Some better-ranked stocks in the Basic Materials space are <strong>Carpenter Technology Corporation</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), <strong>Eldorado Gold Corporation&nbsp;</strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>) and <strong>Kinross Gold Corporation </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>). Carpenter Technology and Eldorado Gold sport a Zacks Rank #1 (Strong Buy), and Kinross carries a Zacks Rank #2.</p>
<p>The Zacks Consensus Estimate for CRS&#39;s current-year earnings is pegged at $4.35, indicating a year-over-year rise of 282%. CRS&#39; earnings beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, the average earnings surprise being 15.1%. The company&#39;s shares have soared 111.5% in the past year.</p>
<p>The Zacks Consensus Estimate for EGO&#39;s current-year earnings is pegged at $1.09, indicating a year-over-year rise of 91.2%. EGO&#39;s earnings estimates have increased 10% in the past 60 days. EGO beat the consensus estimate in the last four quarters, with the average earnings surprise being 430.7%. The stock has rallied 50.7% in the past year.</p>
<p>The Zacks Consensus Estimate for Kinross&#39;s current-year earnings is pegged at 52 cents, indicating a rise of 18.2% from the year-ago levels. KGC beat the consensus in the last four quarters, with the average earnings surprise being 46%. The stock has surged nearly 79.9% in the past year.</p>
<p><a href="https://www.zacks.com/stock/news/2303696/u-s-silica-s-slca-acquisition-by-apollo-gets-shareholders-nod?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2303696">To read this article on Zacks.com click here.</a></p>


Earnings

Earnings Beats

Small Cap

SLCA

U.S. Silica's Acquisition by Apollo Gets Shareholders' Nod

<p><a href="https://www.bloomberg.com/news/articles/2024-07-17/conn-s-plans-mass-store-closings-ahead-of-possible-bankruptcy?sref=y3YMCJ4e">https://www.bloomberg.com/news/articles/2024-07-17/conn-s-plans-mass-store-closings-ahead-of-possible-bankruptcy?sref=y3YMCJ4e</a></p>
<p>Furniture retailer <a href="https://www.bloomberg.com/quote/CONN:US">Conn's Inc.</a> is planning to shutter around 100 locations and liquidate the inventory as part of a bankruptcy filing <a href="https://www.bloomberg.com/news/articles/2024-07-01/retailer-conn-s-mulls-bankruptcy-filing-amid-sales-declines">planned</a> for the coming weeks, according to people with knowledge of the matter.</p>
<p>The company has also been huddling with investors in search of financing to help fund its bankruptcy process, according to some of the people, who asked not to be named discussing private information.</p>


CONN

'Furniture Retailer Conn's Plans Mass Store Closings Ahead Of Possible Bankruptcy; Liquidations Would Shutter More Than 40% Of Company's Stores; Furniture Chain Acquired A Rival Last Year To Expand Reach' - Bloomberg News

<p><strong>WaFd, Inc.</strong>&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wafd#NASDAQ">WAFD</a>) third-quarter fiscal 2024 (ended Jun 30) adjusted earnings of 76 cents per share handily surpassed the Zacks Consensus Estimate of 59 cents. Also, the bottom line rose 4.1% sequentially.</p>
<p>The quarter marked the first full quarter after the completion of the acquisition of Luther Burbank Corporation (LBC).</p>
<p>The results reflected a rise in net interest income (NII) and other income, which aided the top line. Also, higher loan balances and lower provisions were other positives. However, a rise in expenses and a slight decline in the deposit balance acted as spoilsports.</p>
<p>Results in the reported quarter excluded merger-related costs and certain non-operating expenses. After considering those, net income available to common shareholders (GAAP basis) was $60.9 million or 75 cents per share, significantly up from $12.2 million or 17 cents per share in the prior quarter.</p>
<h3>Revenues Rise, Expenses Up</h3>
<p>Adjusted net revenues were $193.4 million, rising 11.2% from the prior quarter. Also, the top line surpassed the Zacks Consensus Estimate of $180.6 million.</p>
<p>NII came in at $177.2 million, growing 11.7% sequentially. The net interest margin was 2.56%, contracting 17 basis points (bps). Our estimates for NII and NIM were $166.8 million and 2.74%, respectively.</p>
<p>The total adjusted other income of $16.2 million rose 5.9%. Our estimate for the metric was $14.5 million.</p>
<p>Total adjusted other expenses were $107.8 million, up 5.9%. The rise was due to an increase in all the components. Our estimate for the metric was $114.8 million. During the reported quarter, WaFd recorded $2.3 million of merger-related expenses for the LBC deal.</p>
<p>The company&#39;s adjusted efficiency ratio was 55.7%, down from 58.5% in the prior quarter. A fall in the efficiency ratio reflects improved profitability.</p>
<p>As of Jun 30, 2024, net loans receivable were $20.9 billion, growing marginally from the prior quarter. During the quarter, the company sold $2.8 billion of acquired multifamily loans.</p>
<p>Total customer deposits were $21.2 billion, recording a slight fall.&nbsp;</p>
<p>At the end of the fiscal third quarter, the adjusted return on average common equity was 9.36%, up from 8.74% at the end of the prior quarter. Adjusted return on average assets was 0.88%, stable on a sequential basis.</p>
<h3>Credit Quality: A Mixed Bag</h3>
<p>As of Jun 30, 2024, allowance for credit losses (including reserve for unfunded commitments) was 1% of gross loans outstanding, stable from the prior quarter end.</p>
<p>In the reported quarter, the provision for credit losses was $1.5 million compared with $16 million provisions in the previous quarter.</p>
<p>The ratio of non-performing assets to total assets was 0.24%, up 1 bp.</p>
<h3>Share Repurchase Update</h3>
<p>During the quarter, WAFD repurchased 0.36 million shares at an average price of $26.63 per share.</p>
<p>In May, the company increased the buyback authorization by 10 million shares. As of Jun 30, 2024, approximately 11.5 million shares remained available under the authorization.</p>
<h3>Our Viewpoint</h3>
<p>Decent loan growth, higher interest rates and a robust balance sheet are likely to continue aiding WAFD&#39;s financials. The LBC acquisition expanded the company&#39;s presence in the lucrative California market and will be accretive to earnings in fiscal 2025. However, elevated expenses and an expected economic slowdown are near-term headwinds.</p>
<div class="chart_embed">
<h3>WaFd, Inc. Price, Consensus and EPS Surprise</h3>
<p><img alt="WaFd, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/00/1721219140.png" style="height:265px; width:577px" title="" /></p>
<p><span style="font-size:13px">WaFd, Inc. price-consensus-eps-surprise-chart</span><span style="font-size:13px"> | </span><span style="font-size:13px">WaFd, Inc. Quote</span></p>
</div>
<p>Currently, WAFD carries a Zacks Rank #3 (Hold).</p>
<h3>Earnings Dates &amp; Expectations of Other Banks</h3>
<p><strong>BankUnited </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bku#NYSE">BKU</a>) is scheduled to announce second-quarter 2024 numbers on Jul 18.</p>
<p>Over the past 30 days, the Zacks Consensus Estimate for BKU&#39;s quarterly earnings has been revised 1.5% down to 65 cents, suggesting a 16.7% decline from the prior-year reported number.</p>
<p><strong>Commerce Bancshares</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>) is also set to announce second-quarter 2024 numbers on Jul 18.</p>
<p>Over the past month, the Zacks Consensus Estimate for CBSH&#39;s quarterly earnings has moved 3.4% north to 91 cents. This implies a 6.2% decrease from the prior-year quarter.</p>
<p><a href="https://www.zacks.com/stock/news/2303592/wafd-s-q3-earnings-beat-estimates-revenues-rise-on-lbc-deal?cid=CS-BENZ-FT-analyst_blog|earnings_article-2303592">To read this article on Zacks.com click here.</a></p>


CBSH

WAFD

WAFD's Q3 Earnings Beat Estimates, Revenues Rise on LBC Deal

<p><strong>Aehr Test Systems </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) shares are soaring Wednesday following<a href="https://www.benzinga.com/pressreleases/24/07/ac39803522/aehr-test-systems-reports-fiscal-2024-fourth-quarter-and-full-year-financial-results-and-provides"> robust fiscal Q4 2024 results and optimistic FY25 guidance. </a></p>
<p><strong>What Happened: </strong>The semiconductor test equipment supplier <a href="https://www.benzinga.com/pressreleases/24/07/ac39803522/aehr-test-systems-reports-fiscal-2024-fourth-quarter-and-full-year-financial-results-and-provides">reported fourth-quarter net revenue</a> of $16.6 million, beating estimates of $15.44 million. Non-GAAP net income of $0.84 per share, beating the consensus estimate of $0.10.</p>
<p>For the fiscal year, Aehr achieved a record net revenue of $66.2 million. </p>
<p>Looking ahead, Aehr projects fiscal year 2025 revenue of at $70 million, surpassing the $65.1 million consensus estimate.</p>
<p><strong>What Else: </strong>CEO <strong>Gayn Erickson</strong> also highlighted the role of silicon carbide power semiconductors in the company's success, driven by demand in the electric vehicle (EV) market. <a href="https://www.benzinga.com/pressreleases/24/07/ac39803528/aehr-receives-12-7-million-in-orders-for-fox-waferpak-tm-full-wafer-contactors-to-support-product">Aehr received $12.7 million in orders</a> for its FOX WaferPak full wafer Contactors, reinforcing its strong position in the silicon carbide market. The company also announced the acquisition of Incal Technology, <a href="https://www.benzinga.com/pressreleases/24/07/ac39803576/aehr-test-systems-to-acquire-incal-technology-expanding-its-addressable-market-within-the-rapidly">expanding its reach into the AI semiconductor market.</a></p>
<p><strong>AEHR Price Action: </strong>Aehr Test systems shares were up by 23.7% at $20.84 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="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="541" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17142116/AEHR-1024x541.png" alt="" class="wp-image-441493" style="width:479px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17142116/AEHR-1024x541.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17142116/AEHR-300x159.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17142116/AEHR-768x406.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17142116/AEHR.png 1069w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure></p>
<p><strong>See Also: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39822984/whats-in-store-for-microsoft-in-q4-analyst-sees-azure-strength-double-digit-revenue">What&#8217;s In Store For Microsoft In Q4? Analyst Sees Azure Strength, Double-Digit Revenue Growth Outlook</a></strong></li>
</ul>
<p><em>Photo Courtesy: buffaloboy on Shutterstock.</em></p>


AEHR

Why Are Aehr Test Systems Shares Surging Wednesday?

Government

Politics

Legal

General

Special Counsel Jack Smith Formally Appeals Dismissal Of Classified Documents Case Against Former President Donald Trump

<p><strong>AutoNation, Inc. </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/an#NYSE">AN</a>) has lowered its second-quarter 2024 quarterly earnings forecast following a cyberattack on software provider CDK Global on Jun 19, 2024. The auto retailer cut its guidance for earnings per share by $1.50 to $3.15-$3.30 for the three months ending Jun 30.</p>
<p>Despite the negative impact of the CDK outage on AutoNation&#39;s business and productivity, the incident is not expected to have a significant impact on the company&#39;s overall financial condition or operations. The company has regained access to its dealer management system and core functions and anticipates completing the restoration of the remaining ancillary systems by the end of July.</p>
<p>With the guidance trimmed for the second quarter of 2024, should investors consider selling the stock? Or is it worth retaining in your portfolio? Let&#39;s find out.</p>
<h3>Soundly Managed Risk &amp; Expansion Efforts to Drive Prospects</h3>
<p>A diversified product mix and multiple streams of income (from the sale of new and used vehicles, after-sales services and customer financial business) reduce the risk profile of AutoNation and augur well for its earnings and sales growth.</p>
<p>A strong geographical footprint, large dealer network and store expansion efforts are praiseworthy and allow the company to reach and serve a broad customer base. In the last reported quarter, the company expanded its used vehicle store footprint in the United States by opening four additional stores.</p>
<p>Enhanced digital solutions are expanding the company&#39;s market presence, with initiatives like next-day ship-to-home, curb-side pick-up and buy-online, pick-up in-store (BOPIS) gaining traction. Omni-channel marketing is integral to AutoNation&#39;s long-term strategy and customer preference for the model is expected to increase its revenues. The launch of AutoNation Express, facilitating online vehicle buying and selling, signifies a leap in digitization.</p>
<h3>Acquisitions to Support Top-Line Growth</h3>
<p>Buyouts of Priority 1 Automotive and Peacock Automotive&#39;s 11 dealerships have boosted AutoNation&#39;s annualized revenues. The acquisition of four dealerships from Moreland Auto Group is also fueling AN&#39;s annual revenues.</p>
<p>Additionally, the CIG Financial buyout has unlocked a significant upside for AutoNation&#39;s F&amp;I segment. The acquisition seeks to take AutoNation&#39;s relationship with its customers beyond the buying experience and throughout the vehicle ownership life cycle. The acquisition of RepairSmith has expanded the company&#39;s range of after-sales services.</p>
<h3>Conclusion</h3>
<p>Despite a stretched balance sheet and rising competition, AutoNation has consistently beat earnings estimates in recent quarters. Better management of risk, rising geographical footprint, large dealer network, store expansion efforts and acquisitions have corroborated the company&#39;s growth. In light of these factors, investors who already have this Zacks Rank #3 (Hold) stock in their portfolio should retain it.</p>
<h3>Key Picks</h3>
<p>Some better-ranked stocks in the auto space are<strong> Suzuki Motor Corporation </strong>(OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>), <strong>Honda Motor Co., Ltd. </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>) and<strong> American Axle &amp; Manufacturing Holdings, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.</p>
<p>The consensus estimate for SZKMY&#39;s 2025 earnings suggests year-over-year growth of 2.09%. EPS estimates for 2025 and 2026 have improved 38 cents and 15 cents, respectively, in the past 60 days.</p>
<p>The Zacks Consensus Estimate for HMC&#39;s 2025 sales and earnings suggests year-over-year growth of 0.73%. EPS estimates for 2025 have improved 9 cents in the past 60 days.</p>
<p>The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. EPS estimates for 2024 have moved up 2 cents in the past 60 days. The same for 2025 has moved up 5 cents in the past 30 days.</p>
<p><a href="https://www.zacks.com/stock/news/2303686/autonation-an-cuts-q2-eps-view-buy-hold-or-sell-the-stock?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2303686">To read this article on Zacks.com click here.</a></p>


Guidance

SZKMY

AutoNation Cuts Q2 EPS View: Buy, Hold or Sell the Stock?

<p><strong>Verizon Communications Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vz#NYSE">VZ</a>) is scheduled to report second-quarter 2024 earnings on Jul 22. The Zacks Consensus Estimate for second-quarter sales and earnings is pegged at $33.07 billion and $1.15 per share, respectively. Earnings estimates for VZ have declined marginally from $4.59 per share to $4.58 per share for 2024 and from $4.72 per share to $4.71 per share for 2025 over the past 30 days.<br />
<strong>VZ Estimate Trend</strong></p>
<p><img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/72/71641.jpg?v=1457466234" /></p>
<p>Image Source: Zacks Investment Research</p>
<h3>Earnings Surprise History</h3>
<p>The communication services provider has had a modest earnings surprise history in the trailing four quarters, exceeding earnings expectations on each occasion. It delivered a four-quarter earnings surprise of 2.83%, on average. In the last reported quarter, the company delivered an earnings surprise of 2.68%.</p>
<p><img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c3/71642.jpg?v=1803143584" /></p>
<p>Image Source: Zacks Investment Research</p>
<h3>Earnings Whispers</h3>
<p>Our proven model does not conclusively predict an earnings beat for Verizon for the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.</p>
<p>Verizon currently has an ESP of -0.06% with a Zacks Rank #3.</p>
<h3>Factors Shaping Upcoming Results</h3>
<p>Verizon is offering various mix-and-match pricing in wireless and home broadband plans that have historically led to increased adoption of 5G devices and premium unlimited plans. In addition to various bundle plans for varied streaming services, it offers customers greater control and flexibility over their preferred content selections, allowing them to pay only for what they want. This is likely to have translated into healthy customer additions and higher revenues from the Consumer segment.</p>
<p>The Zacks Consensus Estimate for revenues from the Consumer segment is pegged at $25.01 billion, while our model projects revenues of $24.95 billion.</p>
<p>During the reported quarter, Verizon deployed innovative, human-assisted GenAI applications that streamline processes and ensure positive customer engagements. These cutting-edge tools ease the business processes with Verizon and reduce the cognitive load on store and customer service employees. Designed to work alongside human representatives, these AI tools act as personal guides, leading customers to the best solutions and offers available. These are likely to have translated into incremental revenues in the Business segment.</p>
<p>The Zacks Consensus Estimate for revenues from the Business segment is pegged at $7.44 billion, while our model projects revenues of $7.49 billion.</p>
<p>However, adverse foreign currency translations, infrastructure investments and high operating costs for 5G deployments are likely to have led to soft margins in the quarter. Moreover, the promotional offers and lucrative discounts are expected to have weighed on margins. In addition, the company&#39;s wireline division is struggling with persistent losses in access lines owing to competitive pressure from the voice-over-Internet protocol (VoIP) service providers and aggressive triple-play (voice, data and video) offerings by cable companies.</p>
<p>Verizon also recorded high capital expenditures for the launch and continued build-out of its 5G Ultra-Wideband network, deployment of significant fiber assets across the country and Intelligent Edge Network architecture upgrades.</p>
<h3>Price Performance</h3>
<p>Over the past year, VZ has gained 28.4% compared with the industry&#39;s growth of 32.5%. It has also underperformed its peers like <strong>AT&amp;T Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/t#NYSE">T</a>) and <strong>T-Mobile US Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmus#NASDAQ">TMUS</a>) over this period.</p>
<p><img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/af/71643.jpg?v=1937373495" /></p>
<p>Image Source: Zacks Investment Research</p>
<h3>Key Valuation Metric</h3>
<p>From a valuation standpoint, Verizon appears attractive relative to the industry and is trading below its mean. Going by the price/earnings ratio, the company shares currently trade at 8.92 forward earnings, lower than 11.11 for the industry and the stock&#39;s mean of 9.75.</p>
<p><img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f7/71644.jpg?v=525258365" /></p>
<p>Image Source: Zacks Investment Research</p>
<h3>Investment Considerations</h3>
<p>With one of the most efficient wireless networks in the United States, Verizon continues to deploy the latest 4G LTE Advanced technologies to deliver faster peak data speeds and capacity for customers, driven by customer-focused planning, disciplined engineering and constant strategic investment. Verizon has been aggressively forging ahead to expand its fiber optics networks to support 4G LTE and 5G wireless standards as well as wireline connections.</p>
<p>However, high capital expenditures due to the continued expansion of 5G mmWave in new and existing markets, the densification of the 4G LTE wireless network and the deployment of the fiber infrastructure have eroded margins. An ongoing shift from traditional linear video to over-the-top offerings, along with a competitive and almost saturated U.S. wireless market, is further likely to weigh on the company&#39;s revenues in the future.</p>
<h3>End Note</h3>
<p>With a Zacks Rank #3, Verizon appears to be treading in the middle of the road, and new investors could be better off if they trade with caution. It appears that the recent initiatives have mostly fallen flat as it plays a catch-up game with its rivals. With declining earnings estimates, the stock is witnessing a negative investor perception. Consequently, it might not be a prudent investment decision to bet on the stock at the moment.</p>
<p>However, a single quarter&#39;s results are not so important for long-term stakeholders and investors already owning the stock could stay put. In addition, an attractive valuation and focus on the deployment of a cloud-native, container-based, virtualized architecture for higher flexibility, scalability and cost efficiency across its network will likely reap long-term benefits. These, in turn, offer some enticing reasons for continuing to invest in the stock over a long-term horizon.</p>
<p><a href="https://www.zacks.com/stock/news/2303593/verizon-vz-stock-before-q2-earnings-to-buy-or-not-to-buy?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2303593">To read this article on Zacks.com click here.</a></p>


Tech

TMUS

Verizon Stock Before Q2 Earnings: To Buy or Not to Buy?

<p>Canaccord Genuity  analyst William Plovanic   maintains AngioDynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) with a Buy and lowers the price target from $18 to $13.</p>


ANGO

Canaccord Genuity Maintains Buy on AngioDynamics, Lowers Price Target to $13

<p><strong>Macy&#39;s, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>) celebrates the back-to-school season by reintroducing Epic Threads, a children&#39;s clothing line that merges fun, functionality and sustainability. The refreshed collection, designed with input from kids, features vibrant, durable and versatile styles suitable for any activity.</p>
<p>Now available at Macy&#39;s stores nationwide, online and through the Macy&#39;s app, Epic Threads helps children start the school year with confidence and style. The company&#39;s extensive selection of trendy apparel, accessories and essentials, along with its convenient omnichannel shopping experience, makes it a top choice for back-to-school shopping.</p>
<p><img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f4/71622.jpg?v=1275224722" /></p>
<p>Image Source: Zacks Investment Research</p>
<h3>Inspired by Kids, Designed for Fun</h3>
<p>Epic Threads is all about showcasing children&#39;s optimistic world, wherein imagination rules and kids can be comfortable and confident in their favorite outfits. Emily Erusha-Hilleque, SVP of Private Brands at Macy&#39;s, highlighted the brand&#39;s focus on vibrant, durable and versatile styles. The collection, inspired by and designed with kids, features playful and expressive pieces perfect for various activities, from classroom to playground adventures.</p>
<p>Rooted in consumer insights and crafted with intentional design, the refreshed Epic Threads offers a mix of basics, key items and fashion pieces that cover all clothing needs. Macy&#39;s surveyed its youngest customers to ensure that the collection provides confidence and style throughout the day. The range includes bright tees, twirl-worthy dresses, pants, hoodies and cozy outerwear, all designed to handle everyday moments seamlessly.</p>
<p>The brand uses feel-good and trusted fabrics that are bright, welcoming and easy to care for. Each fabric is selected for its quality and performance, ensuring that the pieces look and feel great, wash after wash. The collection includes more than 200 pieces of clothing and accessories priced between $10 and $50, and caters to sizes from 2T to 20, making it accessible to a wide range of customers.</p>
<h3>One-Stop Shop for Back-to-School Needs</h3>
<p>As the back-to-school season approaches, Macy&#39;s simplifies shopping by offering an unmatched selection of on-trend apparel, accessories and essentials for students of all ages. Macy&#39;s omnichannel shopping experience allows customers to shop in-store, online at Macys.com, or through the Macy&#39;s app. This flexibility, combined with great sales and discounts, makes back-to-school shopping fun and affordable.</p>
<p>Parents appreciate the convenience of shopping at Macy&#39;s, wherein they can find everything their children need for the new school year. The curated selection includes Macy&#39;s private brands like Epic Threads and And Now This, as well as customer-favorite brands, such as Nike, Jordan, Celebrity Pink, Madden Girl and Levi&#39;s.</p>
<p>These brands ensure that kids will make a statement when they return to the classroom. Additionally, with the latest sneakers from popular brands like Converse, Nike, New Balance, and Adidas, students can step into the new school year with style and confidence.</p>
<h3>Wrapping Up</h3>
<p>The back-to-school season is a critical time for retailers, and Macy&#39;s has positioned itself as a one-stop-shopping destination for all student needs. By offering a wide range of clothing, accessories and essentials, the company helps parents easily find their children&#39;s needs to start the school year off right.</p>
<p>The Zacks Rank #1 (Strong Buy) company has seen its shares rise 5.7% in the past year compared with the Retail &ndash; Regional Department Stores industry&#39;s 11.7% growth.</p>
<h3>Three Other Solid Picks</h3>
<p>Some other top-ranked stocks in the retail space are <strong>The Gap, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gps#NYSE">GPS</a>), <strong>Abercrombie &amp; Fitch Co. </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anf#NYSE">ANF</a>) and <strong>Urban Outfitters Inc. </strong>(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/urbn#NASDAQ">URBN</a>).</p>
<p>Gap is a premier international specialty retailer offering a diverse range of clothing, accessories and personal care products. It currently sports a Zacks Rank #1.</p>
<p>The Zacks Consensus Estimate for Gap&#39;s fiscal 2024 earnings and sales indicates growth of 21.7% and 0.2%, respectively, from the fiscal 2023 reported figures. GPS has a trailing four-quarter average earnings surprise of 202.7%.</p>
<p>Abercrombie is a specialty retailer of premium, high-quality casual apparel. It flaunts a Zacks Rank of 1 at present. ANF delivered a 28.9% earnings surprise in the last reported quarter.</p>
<p>The consensus estimate for Abercrombie&#39;s fiscal 2024 earnings and sales indicates growth of 47.3% and 10.4%, respectively, from the fiscal 2023 reported levels. ANF has a trailing four-quarter average earnings surprise of 210.3%.</p>
<p>Urban Outfitters is a lifestyle specialty retailer that offers fashion apparel and accessories, footwear, home d&eacute;cor, and gift products. It currently has a Zacks Rank of 2 (Buy).&nbsp;</p>
<p>The Zacks Consensus Estimate for Urban Outfitters&#39; fiscal 2024 earnings and sales indicates growth of 9.9% and 5.8%, respectively, from the year-ago actuals. URBN has a trailing four-quarter average earnings surprise of 16.9%.</p>
<p><a href="https://www.zacks.com/stock/news/2303664/macy-s-m-relaunches-epic-threads-for-back-to-school-season?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2303664">To read this article on Zacks.com click here.</a></p>


URBN

Macy's Relaunches Epic Threads for Back-to-School Season

<p>Venture capitalist <strong>Luke Martin</strong> recently highlighted <strong>Bitcoin&#8217;s</strong> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) growing influence in the financial and political landscape, drawing attention to its increasing <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39256755/gamestop-could-start-biggest-bitcoin-adoption-story-of-the-year-with-this-move-trader-sugg">coverage and acceptance</a>.</p>
<p><strong>What Happened:</strong> Martin described Bitcoin as a "liquidity black hole" that absorbs more dollars with each cycle as the money supply expands. He also referred to it as an "attention black hole," stealing more coverage and attention each year.</p>
<p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><br />
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">Bitcoin has been called a liquidity black hole that swallows more dollars each cycle as money supply grows.<br /><br />Bitcoin is also an attention black hole that steals more coverage &amp; eyeballs every year.<br /><br />•Major factor in presidential election<br />•Trump speaking at the <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> conference… <a href="https://t.co/ES9r0KQDrh">pic.twitter.com/ES9r0KQDrh</a></p>
<p>&mdash; Luke Martin (@VentureCoinist) <a href="https://twitter.com/VentureCoinist/status/1813294589744136242?ref_src=twsrc%5Etfw">July 16, 2024</a></p></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<p></p></figure></p>
<p>He highlighted Bitcoin&#8217;s influence in the recent presidential election and former President <strong>Trump&#8217;s</strong> appearance at a <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39470346/trump-reportedly-discussing-participation-in-bitcoin-2024-conference-move-to-reinforce-cry">Bitcoin conference</a>. Martin also noted the success of <a href="https://www.msn.com/en-us/money/other/bitcoin-etfs-in-two-steps-forward-mode-gobble-up-another-300m-in-inflows/ar-BB1q6qFg">Bitcoin ETFs</a> and Blackrock&#8217;s CEO <strong>Larry Fink </strong><a href="https://www.msn.com/en-us/money/news/why-blackrocks-larry-fink-believes-everyone-should-take-another-look-at-bitcoin/ar-BB1q2i3U">advocating for Bitcoin</a> on television.</p>
<p>Cryptocurrency once considered a fringe financial concept, has rapidly become a central topic in traditional finance and politics. Bitcoin&#8217;s influence is particularly significant in a world where attention is increasingly scarce, as Martin points out.</p>
<p><figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></figure></p>
<p><strong>Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39775022/why-is-bitcoin-back-above-63k-and-are-bearish-scenarios-really-invalidated">Why Is Bitcoin Back Above $63K And Are Bearish Scenarios Really &#8216;Invalidated&#8217;?</a></strong></p>
<p><strong>Why It Matters:  </strong>Google Trends data indicates that interest in the word "Bitcoin" stands at 46 for the current week,  compared to 40 in the previous. The peak in interest is correlated to the recent pump in cryptocurrency markets in the aftermath of the f<a href="https://www.msn.com/en-us/money/news/trumps-family-reacts-to-attempted-assassination-toughest-man-ive-ever-met/ar-BB1pY4kj">ailed assassination attempt</a> on Donald Trump. Notably, this is the highest since the April 28 to May 4 period.</p>
<p>In a recent tweet, Cryptoquant founder &amp; CEO <strong>Ki Young Ju</strong> highlighted doubts about Mt. Gox as being overestimated. Even if the $3 billion of Mt. Gox is sold on Kraken it is only 1% of the realized cap increase in this bull cycle. He <a href="https://x.com/ki_young_ju/status/1813277728998609338">marked</a> this as "manageable liquidity&#8221; and highlighted that market cap growth chases the realized cap growth, indicating strong demand. "Since 2023, $224 billion in Bitcoin sold, yet price up 350%," he added.  </p>
<p><strong>What&#8217;s Next</strong>: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.</p>
<p><strong>Read Next:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39817200/donald-trump-comments-on-crypto-pivot-if-we-dont-do-it-china-will">Donald Trump Comments On Crypto Pivot: &#8216;If We Don&#8217;t Do It, China Will&#8217;</a></strong></li>
</ul>
<p><em>This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<p><em><em>Image created using artificial intelligence with Midjourney.</em></em></p>


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

Cryptocurrency

$BTC

Bitcoin Is The 'Liquidity And Attention Black Hole,' Says Crypto VC: Here's What Google Trends Data Says

Press Releases

Apex Critical Metals Corp. Expands US Investor Reach with OTCQB Listing Under Symbol APXCF

Zimtu Capital Announces Agreement with Apex Critical Metals

Apex Critical Metals Corp. Signs Earn-In Agreement with Discovery Lithium & DG Resource Management

Offerings

Apex Critical Metals Corp. Announces Private Placement to Raise Gross Proceeds of up to $2,000,000

Apex Critical Metals Corp. Completes First Tranche of Private Placement for Proceeds of $1,000,000

Apex Critical Metals Corp. Announces Private Placement of Flow-Through Units to Raise Gross Proceeds of up to $1,000,000