Latest news for Arizona Lithium (OTC:AZLAF) Stock

Arizona Lithium Ltd is an Australian company focused on the development and exploration of its US lithium assets. The company is engaged in the development of its Big Sandy Lithium Project in Arizona and Lordsburg Lithium Project in New Mexico.

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Crews at the Arizona Lithium facility discovered a Nikola semi-truck inside the building with a lithium-ion cell battery ablaze.

Nikola&#39;s Burning Issue Continues With 3rd Truck Fire This Year: Here&#39;s What Happened

ARIZONA LITHIUM LTD by Arizona Lithium Ltd.

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TD Cowen analyst Bill Kirk maintains T. Rowe Price Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>) with a Hold and lowers the price target from $123 to $118.

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TD Cowen Maintains Hold on T. Rowe Price Gr, Lowers Price Target to $118

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Loop Media shares are trading higher after the company announced its content partnership with Red Bull to launch Red Bull TV channel across all out-of-home venues nationwide.

Comcast (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmcsa#NASDAQ">CMCSA</a>) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock&#39;s performance in the near term.
Over the past month, shares of this cable provider have returned +1.4%, compared to the Zacks S&amp;P 500 composite&#39;s -0.2% change. During this period, the Zacks Cable Television industry, which Comcast falls in, has gained 9.1%. The key question now is: What could be the stock&#39;s future direction?
Although media reports or rumors about a significant change in a company&#39;s business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings Estimates
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company&#39;s earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors&#39; interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Comcast is expected to post earnings of $1.07 per share for the current quarter, representing a year-over-year change of -0.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -7%.
For the current fiscal year, the consensus earnings estimate of $4.26 points to a change of +7% from the prior year. Over the last 30 days, this estimate has changed +1.1%.
For the next fiscal year, the consensus earnings estimate of $4.51 indicates a change of +5.9% from what Comcast is expected to report a year ago. Over the past month, the estimate has changed +0.9%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock&#39;s price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Comcast is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
12 Month EPS
<img alt="12-month consensus EPS estimate for CMCSA _12MonthEPSChartUrl" class="chart" src="https://chart-service.zacks.com/images/weekly/yesop_12_month_eps/CMCSA.png" style="height:auto; width:100%" title="" />
Projected Revenue Growth
Even though a company&#39;s earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It&#39;s almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company&#39;s potential revenue growth is crucial.
In the case of Comcast, the consensus sales estimate of $31.86 billion for the current quarter points to a year-over-year change of +5.8%. The $123.18 billion and $122.75 billion estimates for the current and next fiscal years indicate changes of +1.3% and -0.4%, respectively.
Last Reported Results and Surprise History
Comcast reported revenues of $29.69 billion in the last reported quarter, representing a year-over-year change of -2.7%. EPS of $1.21 for the same period compares with $1.13 a year ago.
Compared to the Zacks Consensus Estimate of $30.07 billion, the reported revenues represent a surprise of -1.26%. The EPS surprise was +9.01%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.
Valuation
Without considering a stock&#39;s valuation, no investment decision can be efficient. In predicting a stock&#39;s future price performance, it&#39;s crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects.
While comparing the current values of a company&#39;s valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock&#39;s price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Comcast is graded A on this front, indicating that it is trading at a discount to its peers.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it&#39;s worthwhile paying attention to the market buzz about Comcast. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2310679/here-is-what-to-know-beyond-why-comcast-corporation-cmcsa-is-a-trending-stock?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks_v1-2310679">To read this article on Zacks.com click here.</a>

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Here is What to Know Beyond Why Comcast Corporation is a Trending Stock

On Monday, the FDA approved Guardant Health Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GH#NASDAQ">GH</a>) Shield blood test for colorectal cancer (CRC) screening in adults age 45 and older who <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40006571/guardant-healths-shield-blood-test-approved-by-fda-as-a-primary-screening-option-clearing-path-for" rel="noreferrer noopener">are at average risk for the disease</a>.
The company says it is the first blood test approved by the FDA as a primary screening option for CRC, meaning healthcare providers can offer Shield like all other non-invasive methods recommended in screening guidelines.
Shield is also the first blood test for CRC screening that meets the requirements for Medicare coverage.
Colorectal cancer is the second-leading cause of cancer-related death in the U.S., even though it is highly treatable if caught early.
The American Cancer Society estimates that more than 150,000 people will be diagnosed with CRC in 2024, and the disease will be responsible for more than 53,000 deaths.
When colon cancer is found at an early stage before it has spread, the five-year relative survival rate is 91%. If the cancer has spread to distant body parts, the five-year relative survival rate is 14%.
The FDA decision follows a recommendation for approval&nbsp;by an Advisory <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39007146/fda-advisory-panel-supports-approval-of-guardant-healths-blood-test-for-colorectal-" rel="noreferrer noopener">Committee panel in May 2024</a>.
The approval was based on the results of&nbsp;ECLIPSE, a 20,000+-patient registrational study evaluating the performance of the test for detecting CRC in average-risk adults.
Results from the study, published in the March 14, 2024, issue of&nbsp;The New England Journal of Medicine, showed that Shield demonstrated 83% sensitivity for detecting CRC, with 90% specificity for advanced neoplasia. This performance is within the range of current guideline-recommended non-invasive screening methods, in which overall CRC sensitivity ranges from 74% to 92%.
William Blair notes the bullish sentiment should be tempered for now. The product label contains several barriers to commercialization, including:
<ul>
<li>A precaution statement on the first page highlights limited detection of Stage I colorectal cancer and precancerous lesions.</li>
<li>A limitation is advising providers to discuss the most appropriate screening test with patients based on their medical history and individual circumstances.</li>
<li>Detailed information to assist in shared decision-making with patients, including a lengthy statement on the test&#8217;s limitations.</li>
</ul>
Overall, these limitations may hinder the test&#8217;s adoption in the already compliant screening population.
The analyst <a target="_blank" href="https://www.benzinga.com/quote/GH/analyst-ratings" rel="noreferrer noopener">maintains the Outperform rating</a> for Guardant Health.
Guardant Health&#8217;s Shield blood test competes with Exact Sciences Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) Cologuard, a stool DNA-based colorectal cancer screening test for average-risk individuals 45 or older.
Price Action: GH stock is up 5.42% at $34.79 at last check Monday.
Image by PDPics from Pixabay
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/07/40015880/cognition-therapeutics-stock-tumbles-on-mixed-data-from-mid-stage-alzheimers-study" target="_blank" rel="noreferrer noopener">Cognition Therapeutics Stock Tumbles On Mixed Data From Mid-Stage Alzheimer&#8217;s Study</a>.</li>
</ul>

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EXAS

FDA Greenlights Guardant Health's Shield Blood Test, Analyst Cautious on Adoption

Shares of semiconductor company Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) have underperformed other chip peers and the broader market in 2024. Could the trend be reversed when the company reports second-quarter financial results Tuesday <a href="https://www.benzinga.com/earnings">after market close.</a>
Earnings Estimates: Analysts expect AMD to report second-quarter revenue of $5.72 billion according to data<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072924&amp;t=be2bearmibe3na1"> from Benzinga Pro.</a>
The company reported revenue of $5.36 billion in last year's second quarter. AMD has beaten analysts' revenue estimates in five straight quarters.
Guidance<a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up"> from the company</a> calls for second quarter revenue to be in a range of $5.4 billion to $6.0 billion.
Analysts estimate AMD will report second-quarter earnings per share of 68 cents compared to 58 cents per share in last year's second quarter. The company has beaten analysts' earnings per share estimates in four of the past five quarters with one quarter making the estimate.
Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/07/39945998/amd-stock-turns-negative-year-to-date-ceo-lisa-su-meets-with-tesla-what-investors-should-kno">AMD Stock Turns Negative Year-to-Date, CEO Lisa Su Meets With Tesla: What Investors Should Know</a>
What Analysts Are Saying: AMD shares have reset, but further downside could come after the second quarter report, Cantor Fitzgerald analyst C.J. Muse warned in a new investor note.
The analyst said one of the key items to watch in the second-quarter results and commentary will be order cuts from Microsoft and its impact on MI300 revenue guidance.
"If AMD is unable to raise the guide, we see further downside risk for shares," Muse said.
Muse reiterated an Overweight rating on AMD and price target of $200.
The analyst said prior guidance was $4 billion with a move to $5 billion being a potential positive for shares. Microsoft cutting orders for MI300 could prove "demand destruction" is affecting the ramp-up and could cause "substantial downside risk."
"Elsewhere, look for any update on what the market opportunity could look like into 2025."
The second quarter could see Data Center and MI300 strength, but weakness in the PC and console markets remain a concern, the analyst added.
"We note that shares have pulled back significantly over the past couple of weeks, from a peak of ~$185 in mid-July, and a move we believe makes entry significantly more attractive if MI300 concerns are overblown."
Here's a look at other<a href="https://www.benzinga.com/quote/AMD/analyst-ratings"> analyst ratings for AMD</a> and their price targets in the month of July:
Susquehanna: Maintained Positive rating and $200 price target
TD Cowen: Maintained Buy rating and raised the price target from $200 to $210
Citigroup: Maintained Buy rating and raised the price target from $176 to $210
Wells Fargo: Maintained Overweight rating and raised the price target from $190 to $205
KeyBanc: Maintained Overweight rating and lowered the price target from $230 to $220
Key Items to Watch: As mentioned by Muse above, the company's guidance will prove to be one of the most important items for analysts and investors to watch when AMD reports second-quarter financial results on Tuesday.
The company's Data Center segment has seen impressive growth and commentary on the guidance of this segment could provide a boost to shares.
With many semiconductor stocks getting a boost from artificial intelligence-related opportunities over the last year, investors and analysts will want to hear more about future revenue opportunities for AI.
AMD stock has lagged semiconductor peers and the overall markets. 
AMD shares are now down 4.8% year-to-date in 2024, after falling last week. Compare that to the year-to-date gain of +126.3% for Nvidia and a year-to-date gain of 13.0% for the Invesco QQQ Trust, which tracks the major technology stocks.
 AMD Price Action: AMD shares trade at $141.84 on Monday versus a 52-week trading range of $93.12 to $227.30.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38558952/amd-falls-on-q1-earnings-q2-guidance-why-1-000-growth-from-ai-stock-is-not-enough-f">AMD Falls On Q1 Earnings, Q2 Guidance: Why &#8216;1,000% Growth&#8217; From AI Stock Is Not Enough For Investors</a></li>
</ul>
Photo: Shutterstock

Previews

AMD Q2 Earnings Preview: Microsoft Impact, Data Center Guidance On Watch, Analyst Warns Of 'Substantial Downside Risk'

Shares of Bank of Marin Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRC#NASDAQ">BMRC</a>) fell sharply during Monday's session after the company reported <a href="https://www.benzinga.com/quote/BMRC/earnings">worse-than-expected quarterly earnings.</a>
Bank of Marin reported quarterly earnings of 6 cents per share which missed the analyst consensus estimate of 18 cents per share. The company reported quarterly sales of $22.47 million which missed the analyst consensus estimate of $23.39 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Bank of Marin Bancorp shares dipped 10.8% to $19.92 on Monday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>2U, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) shares climbed 128% to $2.8535.</li>
<li>Lipella Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIPO#NASDAQ">LIPO</a>) shares climbed 117.8% to $0.9039 after the company announced it commenced its Phase 2a trial for LP-310 in Oral Lichen Planus.</li>
<li>Planet Image International Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YIBO#NASDAQ">YIBO</a>) gained 61.6% to $4.75 after jumping around 56% on Friday.</li>
<li>NLS Pharmaceutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NLSP#NASDAQ">NLSP</a>) jumped 38% to $0.2644 after the company announced a merger in which Kadimastem will become a wholly owned subsidiary of NLS.</li>
<li>Tivic Health Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) shares gained 37.8% to $0.6232 after gaining 11% on Friday.</li>
<li>NIP Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIPG#NASDAQ">NIPG</a>) gained 34.4% to $12.25.</li>
<li>Nisun International Enterprise Development Group Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NISN#NASDAQ">NISN</a>) jumped 26.8% to $14.76.</li>
<li>Renalytix Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNLX#NASDAQ">RNLX</a>) jumped 24.2% to $0.4366.</li>
<li>Meta Data Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIU#NYSE">AIU</a>) rose 23.5% to $2.9860.</li>
<li>Venus Concept Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) jumped 22.5% to $0.7936 after the company received a medical device license from Health Canada to market its Venus Bliss MAX system.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) gained 21.3% to $2.8862. Roth MKM analyst Jonathan Aschoff initiated coverage on Nuwellis with a Buy rating and announced a price target of $17.</li>
<li>Longeveron Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) shares gained 19.8% to $4.1246 after the company disclosed study results from CLEAR MIND Phase 2a clinical trial of Lomecel-B in mild Alzheimer&#8217;s disease.</li>
<li>BurgerFi International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFI#NASDAQ">BFI</a>) gained 19.3% to $0.5021. BurgerFi shares jumped 97% on Friday after the company announced it reached a legal settlement agreement with Lion Point Capital. The company agreed to pay $1,350,000 and issue Lion Point 300,000 of preferred stock.</li>
<li>Oil States International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIS#NYSE">OIS</a>) climbed 18.8% to $5.63 after the company reported better-than-expected second-quarter financial results.</li>
<li>PolyPid Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPD#NASDAQ">PYPD</a>) rose 18.4% to $4.19.</li>
<li>Cepton, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPTN#NASDAQ">CPTN</a>) jumped 18.4% to $2.9950 after the company announced it will be acquired by Koito for $3.17 per share in cash.</li>
<li>CommScope Holding Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMM#NASDAQ">COMM</a>) rose 17.2% to $2.25 after reporting preliminary second quarter results.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) gained 16.1% to $15.35.</li>
<li>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) jumped 13.7% to $79.76 after the company reported better-than-expected second quarter financial results.</li>
<li>Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>) rose 13.1% to $29.14 after the company reported better-than-expected second quarter earnings.</li>
<li>Primega Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGHL#NASDAQ">PGHL</a>) gained 9.5% to $5.09.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) rose 8.5% to $18.48. ZIM Integrated Shipping Services will release its second quarter financial results on Monday, Aug. 19.</li>
<li>Anavex Life Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) gained 6.4% to $7.18. Anavex Life Sciences presented comprehensive results from the Phase IIb/III study showing that blarcamesine, once daily orally, significantly slowed clinical decline in people with early Alzheimer&#8217;s disease.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gained 5.6% to $232.15. Morgan Stanley analyst Adam Jonas reiterated Tesla with an Overweight and maintained a $310 price target.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Cognition Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGTX#NASDAQ">CGTX</a>) fell 34% to $1.5650 after the company reported Phase 2 results for Alzheimer&#8217;s drug.</li>
<li>vTv Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTVT#NASDAQ">VTVT</a>) shares dipped 31.4% to $14.55 after the company announced the FDA has placed a clinical hold on the cadisegliatin clinical program.</li>
<li>CERo Therapeutics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) shares fell 28.6% to $0.1830 after gaining 6% on Friday.</li>
<li>Centuri Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRI#NYSE">CTRI</a>) fell 26.4% to $14.90 following downbeat quarterly results.</li>
<li>Ventyx Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTYX#NASDAQ">VTYX</a>) dipped 24.4% to $2.23. The company released results from the Phase 2 trial of allosteric TYK2 inhibitor VTX958 in participants with moderately to severely active Crohn's disease, a type of inflammatory bowel disease that irritates and causes swelling in digestive tract.</li>
<li>LuxUrban Hotels Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUXH#NASDAQ">LUXH</a>) shares fell 19.6% to $0.1536 after the company priced its $1.74 million public offering of 11,573,333 common shares at 15 cents per share.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) declined 18.5% to $8.84.</li>
<li>Ocean Power Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#NYSE">OPTT</a>) fell 17.5% to $0.2544.</li>
<li>Treasure Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGL#NASDAQ">TGL</a>) shares fell 17% to $1.5243.</li>
<li>Integra Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITRG#NYSE">ITRG</a>) fell 16.6% to $0.8999. Integra Resources and Florida Canyon Gold entered into a definitive arrangement agreement, whereby Integra has agreed to acquire all of the issued and outstanding shares of FCGI pursuant to a court-approved plan of arrangement.</li>
<li>Phio Pharmaceuticals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHIO#NASDAQ">PHIO</a>) fell 16.6% to $3.3616. Phio Pharmaceuticals recently announced exercise of warrants for $3.1 million gross proceeds.</li>
<li>Integra LifeSciences Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IART#NASDAQ">IART</a>) dipped 13.9% to $27.05 after the company lowered its FY24 guidance below estimates.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) fell 12.8% to $14.01.</li>
<li>Coursera, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) fell 10.5% to $9.60.</li>
<li>Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) declined 10% to $7.24. Truist Securities analyst Jordan Levy maintained Sunnova Energy Intl with a Buy and raised the price target from $9 to $10.</li>
<li>Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) fell 7.4% to $6.85. Mesoblast, last week, announced that the FDA accepted its Biologics License Application resubmission for Ryoncil in the treatment of children with steroid-refractory acute graft versus host disease.</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) fell 6.3% to $139.61 after HSBC downgraded the stock from Hold to Reduce.</li>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) fell 6.3% to $37.53.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/07/40011559/wall-streets-most-accurate-analysts-say-hold-these-3-health-care-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Say Hold These 3 Health Care Stocks With Over 3% Dividend Yields</a></li>
</ul>

Intraday Update

Movers

AVXL

BMRC

CERO

CGTX

COMM

COUR

CPTN

CTRI

IART

ITRG

LGVN

LIPO

LUXH

MESO

NIPG

NISN

NLSP

NOVA

NUWE

OPTT

PGHL

PHIO

PYPD

RNLX

SERV

TIVC

TNDM

TSLA

TWOU

VERO

VTVT

VTYX

YIBO

Why Bank of Marin Bancorp Shares Are Trading Lower? Here Are Other Stocks Moving In Monday's Mid-Day Session

Wall Street analysts expect Wingstop (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wing#NASDAQ">WING</a>) to post quarterly earnings of $0.82 per share in its upcoming report, which indicates a year-over-year increase of 43.9%. Revenues are expected to be $143.98 million, up 34.4% from the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 2.7% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company&#39;s earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company&#39;s quarterly performance, scrutinizing analysts&#39; projections for some of the company&#39;s key metrics can offer a more comprehensive perspective.
Given this perspective, it&#39;s time to examine the average forecasts of specific Wingstop metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that &#39;Revenue- Royalty revenue, franchise fees and other&#39; will likely reach $64.28 million. The estimate suggests a change of +34% year over year.
The consensus among analysts is that &#39;Revenue- Company-owned restaurant sales&#39; will reach $27.38 million. The estimate suggests a change of +21.2% year over year.
Analysts predict that the &#39;Revenue- Advertising fees&#39; will reach $51.12 million. The estimate indicates a change of +39.7% from the prior-year quarter.
According to the collective judgment of analysts, &#39;System-wide Domestic Same Store Sales Growth&#39; should come in at 18.7%. The estimate compares to the year-ago value of 16.8%.
The consensus estimate for &#39;Total System-wide Restaurants&#39; stands at 2,342. The estimate compares to the year-ago value of 2,046.
Analysts forecast &#39;Total Franchise Restaurants&#39; to reach 2,285. The estimate compares to the year-ago value of 2,001.
Analysts expect &#39;Company-owned domestic same store sales growth&#39; to come in at 7.0%. The estimate is in contrast to the year-ago figure of 5.7%.
The collective assessment of analysts points to an estimated &#39;Number of Restaurants at end of period - Domestic Company-Owned Activity&#39; of 50. Compared to the current estimate, the company reported 45 in the same quarter of the previous year.
Based on the collective assessment of analysts, &#39;New Restaurant Openings - International Franchised Activity&#39; should arrive at 13. The estimate is in contrast to the year-ago figure of 9.
Analysts&#39; assessment points toward &#39;New Restaurant Openings&#39; reaching 61. The estimate compares to the year-ago value of 51.
The average prediction of analysts places &#39;Total Domestic Restaurants&#39; at 2,022. Compared to the current estimate, the company reported 1,794 in the same quarter of the previous year.
It is projected by analysts that the &#39;Number of Restaurants at end of period - International Franchised Activity&#39; will reach 318. The estimate compares to the year-ago value of 252. 
Shares of Wingstop have demonstrated returns of -13.3% over the past month compared to the Zacks S&amp;P 500 composite&#39;s -0.2% change. With a Zacks Rank #2 (Buy), WING is expected to beat the overall market performance in the near future.
<a href="https://www.zacks.com/stock/news/2310715/seeking-clues-to-wingstop-wing-q2-earnings-a-peek-into-wall-street-projections-for-key-metrics?cid=CS-BENZ-FT-fundamental_analysis|nfm_preview-2310715">To read this article on Zacks.com click here.</a>

WING

Seeking Clues to Wingstop Q2 Earnings? A Peek Into Wall Street Projections for Key Metrics

Stryker Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/syk#NYSE">SYK</a>) is scheduled to release second-quarter 2024 results on Jul 30, after market close. In the last reported quarter, the company delivered an earnings surprise of 6.38%.
<h3>Q2 Estimates</h3>
The Zacks Consensus Estimate for earnings is pegged at $2.79 per share, indicating an increase of 9.8% year over year.
The consensus mark for revenues is pinned at $5.41 billion, implying growth of 8.2% from the prior-year quarter&#39;s reported figure.
<h3>Factors to Note</h3>
Stryker&#39;s MedSurg and Neurotechnology segment witnessed substantial sales growth on the back of the robust performance of its subsegments in the past two quarters. Strong performances in the United States, Canada, Australia, Europe, Japan and most emerging markets also boosted revenues. This trend is likely to have continued in the second quarter.
Growth across Orthopaedics &amp; Spine&#39;s Hip, Knee, and Trauma and Extremities subsegments might have favored the segment&#39;s performance on the back of continued procedural growth, strong uptake of the Insignia Hip Stem and robust Mako sales.
Stryker is committed to the sustained expansion of Mako, reflecting robust demand for this differentiated robotic technology. This heightened demand, along with rising installations, is likely to have contributed to the Orthopaedics &amp; Spine segment&#39;s performance in the soon-to-be-reported quarter. Moreover, an improving hospital budget is likely to have kept the order book strong.
SYK witnessed a very strong momentum for its 1788 camera system since its launch in September 2023. The strong initial uptake might have continued in the soon-to-be-reported quarter, thereby driving additional revenues. Moreover, the launch of the Gamma4 Hip Fracture Nailing System in Europe and the LIFEPAK 35 monitor/defibrillator in the United States is likely to have brought in additional revenues during the second quarter.
The Zacks Consensus Estimate for the MedSurg and Neurotechnology, and the Orthopaedics &amp; Spine segments&#39; sales is pegged at $3.12 billion and $2.29 billion, respectively. U.S. and international sales are estimated to be $3.98 billion and $1.39 billion, respectively.
The company&#39;s prospects in 2024 seem promising on the back of ongoing procedural recovery, a strong order book for capital equipment and an improvement in price, along with a strong pipeline of innovation. However, the ongoing pressure in China due to volume-based procurement policy is likely to have partially offset international growth.
Stryker is working toward alleviating the ongoing inflationary pressure. It continued to recognize improved pricing and reduced cost pressure in the past couple of quarters. This is likely to have benefited gross margin during the second quarter.
The company is also looking to expand its presence in the market through acquisitions. In June, it signed a deal to acquire Artelon, a privately held company specializing in innovative soft tissue fixation products for foot and ankle and sports medicine procedures. SYK may provide its integration synergies for SERF SAS on its second-quarter earnings call.
<div class="chart_embed">
<h3>Stryker Corporation Price and EPS Surprise</h3>
<img alt="Stryker Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/a6/1722256548.png" style="height:263px; width:601px" title="" />
Stryker Corporation price-eps-surprise | Stryker Corporation Quote
</div>
<h3>What the Zacks Model Unveils</h3>
Our proven model does not conclusively predict an earnings beat for Stryker this time around. 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, as you will see below.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate is 0.00% for SYK.
Zacks Rank: The company carries a Zacks Rank #3 at present.
<h3>Stocks Worth a Look</h3>
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this reporting cycle.
Phibro Animal Health (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pahc#NASDAQ">PAHC</a>) has an Earnings ESP of +0.99% and a Zacks Rank of 2 at present.
The company&#39;s shares have surged 63% year to date. PAHC&#39;s earnings met estimates in the last reported quarter. Phibro Animal Health has a trailing four-quarter average negative earnings surprise of 2.30%.
IQVIA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iqv#NYSE">IQV</a>) has an Earnings ESP of +0.13% and a Zacks Rank of 2 at present.
Its shares have risen 3.6% year to date. IQV&#39;s earnings beat estimates in the last reported quarter. IQVIA has a trailing four-quarter average earnings surprise of 1.77%.
AxoGen (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/axgn#NASDAQ">AXGN</a>) has an Earnings ESP of +25.00% and a Zacks Rank of 3 at present.
The stock has risen 35.3% year to date. AXGN&#39;s earnings beat estimates in the last reported quarter. AxoGen has a trailing four-quarter average earnings surprise of 66.46%.
<a href="https://www.zacks.com/stock/news/2310969/stryker-syk-to-report-q2-earnings-what-s-in-the-cards?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2310969">To read this article on Zacks.com click here.</a>

Biotech

Earnings Beats

Small Cap

AXGN

PAHC

Stryker to Report Q2 Earnings: What's in the Cards?

Microsoft Corporation&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40006542/apple-amazon-microsoft-meta-lead-the-charge-as-investors-bank-on-tech-cheer-for-ral">upcoming earnings report</a> on Tuesday could influence the entire market. Traders will be watching how the stock navigates around the important $432 level.
If the stock can't make it above this potential resistance, it could lead to another move lower. It could also bring the entire technology sector down along with it. This is why it is our Stock of the Day.
As you can see on the chart, this level was resistance in March and May. Each time the stock rallied to this price, the sellers overpowered the buyers and pushed it lower.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="624" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/29114314/1-33-1024x624.png" alt="Microsoft Corporation (MSFT)" class="wp-image-462875" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/29114314/1-33-1024x624.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/29114314/1-33-300x183.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/29114314/1-33-768x468.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/29114314/1-33.png 1035w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Also: <a href="https://www.benzinga.com/news/24/07/40016163/whats-going-on-with-amazon-shares-monday">What&#8217;s Going On With Amazon Shares Monday?</a>
But then in June the resistance was broken and Microsoft moved higher. When this happened, some of the traders and investors who sold at the resistance came to regret doing so.
A number of them decided to buy their shares back if they ever returned to the same price they were sold for. So, when this eventually occurred, these remorseful sellers placed buy orders. The large concentration of these orders caused support to form.
This put a floor under the price and resulted in a small rebound. Seller's remorse can convert resistance into support.
But then the support was broken. Now traders will be looking for insight into the future direction of the stock by seeing if this support converts back into a resistance level.
This could be due to buyer&#8217;s remorse, which can transform previous support levels into resistance.
Some of the investors and traders who purchased shares while they were at support thought they made a smart decision when the price moved higher. But this move didn't last long. MSFT reversed and broke back below the support.
Now the price is lower. And many of those who bought the stock while it was at support now regret doing so and vow to get out.
But they don't want to lose money. &nbsp;So, they decided that if the price eventually gets back up to their buying price, they will sell. If there are enough of these sell orders, it will convert what was support back into resistance.
If this happens, it could be an early sign that a new downtrend is forming. And if <a href="https://www.benzinga.com/quote/MSFT">Microsoft </a>trends lower, it will put pressure on the entire technology sector.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40008162/us-stocks-look-to-extend-gains-ahead-of-key-tech-earnings-fomc-meeting-analyst-says-this-could-serv">US Stocks Look To Extend Gains Ahead Of Key Tech Earnings, FOMC Meeting: Analyst Says This &#8216;Could Serve As A Fundamental Catalyst For Small And Mid-Cap&#8217;</a></li>
</ul>
Photo: Shutterstock

Technicals

MSFT

Stock Of The Day: Microsoft's Upcoming Earnings Could Signal Market Shift At Key Resistance

ALPS ETF Trusthen & Steers Global Realty Majors ETF

GRI Bio shares are trading lower after the company announced an increase to the shares of common stock to sell under its At The Market Offering Agreement with H.C. Wainwright & Co.

Chijet Motor Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NYSE">CJET</a>) short percent of float has fallen 92.95% since its last report. The company recently reported that it has 25 thousand shares sold short, which is 1.67% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Chijet Motor Co Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722273320_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Chijet Motor Co has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Chijet Motor Co's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Chijet Motor Co's peer group average for short interest as a percentage of float is 9.43%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

CJET

(CJET) - Analyzing Chijet Motor Co's Short Interest

Wynn Resorts's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NYSE">WYNN</a>) short percent of float has risen 8.3% since its last report. The company recently reported that it has 3.49 million shares sold short, which is 3.13% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.86 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Wynn Resorts Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722273315_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Wynn Resorts has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Wynn Resorts's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Wynn Resorts's peer group average for short interest as a percentage of float is 4.91%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

WYNN

Peering Into Wynn Resorts's Recent Short Interest

Kroger's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) short percent of float has fallen 15.42% since its last report. The company recently reported that it has 13.60 million shares sold short, which is 2.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.68 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Kroger Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722273310_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Kroger has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Kroger's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Kroger's peer group average for short interest as a percentage of float is 5.00%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Kroger?

Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) shares are trading higher Monday after the company announced Friday that the first pediatric patient has been treated with the newly launched Quelimmune <a href="https://www.benzinga.com/pressreleases/24/07/g39983642/nuwellis-announces-first-pediatric-patient-treated-in-a-commercial-setting-with-seastar-medicals-q">therapy in a commercial setting.&nbsp;</a>
The Details:
Quelimmune is a novel therapy designed to treat pediatric patients suffering from acute kidney injury (AKI) with sepsis or a septic condition and requiring kidney replacement therapy (KRT) manufactured for SeaStar Medical Holding Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICU#NASDAQ">ICU</a>) and exclusively licensed and distributed in U.S. pediatric hospitals by Nuwellis.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/07/39989347/whats-going-on-with-lululemon-stock">What&#8217;s Going On With Lululemon Stock?</a>
&#8220;We are thrilled to introduce QUELIMMUNE to critically ill pediatric patients in need. This marks a significant step forward in Nuwellis&#8217; mission to execute our pediatric business development strategy. By partnering with SeaStar Medical, we are committed to bringing this groundbreaking therapy to U.S. healthcare providers, offering new hope to children suffering from severe immune system reactions,&#8221; said Nestor Jaramillo, CEO of Nuwellis.
Roth MKM analyst Jonathan Aschoff initiated coverage on Nuwellis with a Buy rating and a $17 price target Monday. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Nuwellis shares are trading below the stock&#8217;s 50-day moving average of $6.30 and near its 52-week low of $2.19.
<h2 class="wp-block-heading">How To Buy NUWE Stock:</h2>
By now you're likely curious about how to participate in the market for Nuwellis &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
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.
NUWE Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Nuwellis shares are up 20.8% at $2.90 at the time of publication Monday.
Read Also:
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</ul>
Image: Unsplash

Why Nuwellis Stock Is Climbing

Costamare (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmre#NYSE">CMRE</a>) is scheduled to release second-quarter 2024 results on Jul 31, before market open.
The Zacks Consensus Estimate for the to-be-reported quarter&#39;s earnings and revenues is pegged at 72 cents per share and $380.41 million, respectively.
The earnings estimate for the to-be-reported quarter has declined 6.5% over the past 60 days. The bottom-line projection indicates year-over-year growth of 28.6%. The Zacks Consensus Estimate for quarterly revenues suggests a year-over-year increase of 3.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/83/72671.jpg?v=212180967" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
CMRE has an impressive earnings surprise history, as reflected in the chart below.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/14/72672.jpg?v=323184082" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research 
Earnings Whispers for Q2
Our proven model does not conclusively predict an earnings beat for Costamare this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That&#39;s not the case here.
CMRE has an Earnings ESP of 0.00% and a Zacks Rank #3.
<h3>Factors Likely to Shape CMRE&#39;s Q2 Results</h3>
We expect CMRE&#39;s second-quarter bottom-line performance to have been affected by higher vessel operating expenses, mainly due to the increased average number of vessels in its fleet. High fuel costs are likely to have shot up total expenses.
With the normalization of economic activities, world trade has gathered pace, which is a positive for shipping stocks like Costamare. This is because the shipping industry is responsible for transporting a high proportion of goods involved in world trade.
Bullishness surrounding the containership market is a tailwind for Costamare. A ramp-up of manufacturing activities in Asia aids the containership market besides other factors. Favorable market conditions in the dry bulk sector are also likely to have aided CMRE&#39;s performance in the to-be-reported quarter. Factors like a build-up of iron ore inventories in China have resulted in higher capesize freight rates.
<h3>Price Performance &amp; Valuation</h3>
Costamare, one of the leading owners and providers of containerships and dry bulk vessels for charter across the globe, has gained in excess of 35% on a year-to-date basis, outperforming not only its industry but also other shipping companies like Danaos Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dac#NYSE">DAC</a>) and Frontline plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fro#NYSE">FRO</a>).
<h3>YTD Price Comparison</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/06/72674.jpg?v=1863324505" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
From a valuation perspective, Costamare is trading at a discount compared to the industry going by its price/sales ratio. The reading is also below its median over the last five years. The company has a Value Score of A.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/bf/72675.jpg?v=260708522" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<h3>Investor Considerations</h3>
The company&#39;s dry bulk and containership fleets are being aided by the ongoing Red Sea tensions. Reduced container availability due to the Red Sea tensions has resulted in a rise in freight costs. Costamare has been benefiting from the surge in dry bulk rates. Lower capacity is expected to boost earnings. Rates are likely to remain high for quite some time, which should aid Costamare.
CMRE&#39;s focus on fleet modernization and leasing is also impressive. The significant amount of contract coverage generated by CMRE lowers its exposure to shipping market volatility. The fleet renewal strategy improves operational efficiency. Even though CMRE&#39;s future looks bright, one should be mindful of headwinds like high vessel operating costs and fuel expenses apart from the escalated debt load.
<h3>Final Thoughts</h3>
Given the abovementioned headwinds, we believe that investors should refrain from rushing to buy CMRE before Wednesday despite it being attractively valued and having a lot in its favor. Instead, they should monitor the developments pertaining to the stock closely for a more appropriate entry point, as an erroneous and hasty decision could affect portfolio gains. If an investor already holds CMRE stock in his/her portfolio, sit tight, as the upcoming earnings report is likely to confirm the company&#39;s strong performance.
<a href="https://www.zacks.com/stock/news/2311048/should-you-buy-costamare-cmre-stock-ahead-of-q2-earnings?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2311048">To read this article on Zacks.com click here.</a>

CMRE

Should You Buy Costamare Stock Ahead of Q2 Earnings?

2U, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) shares are trading higher Monday. The volatility comes after the company filed for Chapter 11 bankruptcy <a href="https://www.benzinga.com/markets/equities/24/07/39975566/online-education-pioneer-2u-files-for-chapter-11-bankruptcy-assures-no-service-disruption-amid-d">protection last week. </a>
The Details:
2U shares crashed last week after the company announced <a href="https://www.benzinga.com/pressreleases/24/07/n39948978/2u-takes-strategic-action-to-significantly-strengthen-balance-sheet-and-position-company-for-innov">it had filed</a> for Chapter 11 bankruptcy protection amid financial challenges and a heavily leveraged balance sheet. The company announced a deal with its lenders and noteholders to cut its debt load by 50% to $459 million, extend the maturity of its loans and provide $110 million in new capital.
Read Next: <a href="https://www.benzinga.com/news/24/07/39989347/whats-going-on-with-lululemon-stock">What&#8217;s Going On With Lululemon Stock?</a>
Needham analyst Ryan MacDonald reiterated a Hold rating on 2U Friday. The stock is rebounding on heavy volume Monday with more than 58 million shares already traded, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.
<h2 class="wp-block-heading">Should I Sell My TWOU Stock?</h2>
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
For analysis tools, charting data and access to exclusive stock news, check out <a href="https://pro.benzinga.com/">Benzinga PRO. Try it for free.</a> 
TWOU Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, 2U shares are up 111% at $2.64 at the time of publication Monday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39984639/carbon-revolution-stock-races-on-chevrolet-corvette-zr1-wheels">Carbon Revolution Stock Races On Chevrolet Corvette ZR1 Wheels</a></li>
</ul>
Image: Steve Buissine from Pixabay

Penny Stocks

What's Going On With 2U Stock?

Deutsche Bank analyst Bryan Kraft maintains Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) with a Hold and raises the price target from $300 to $325.

CHTR

Deutsche Bank Maintains Hold on Charter Communications, Raises Price Target to $325

As Steven Madden, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/shoo#NASDAQ">SHOO</a>) prepares to announce its second-quarter 2024 earnings on Jul 31 before market open, investors are keenly watching for insights into the company&#39;s performance and strategic direction.
The company has successfully carved out a niche in the competitive footwear industry by focusing on trendy, fashion-forward designs that appeal to a broad range of consumers. The Zacks Consensus Estimate for second-quarter revenues stands at $506.8 million, which indicates an increase of 14.5% from the prior-year reported figure.
The bottom line is also expected to rise year over year. Over the past 30 days, the Zacks Consensus Estimate for earnings per share has been stable at 51 cents, which suggests a jump of 8.5% from the year-ago quarter.
Steven Madden has a trailing four-quarter earnings surprise of 6%, on average. In the last reported quarter, this Long Island City, NY-based company surpassed the Zacks Consensus Estimate by a margin of 16.1%.
<h3>Factors to Consider</h3>
Steven Madden&#39;s strategic focus on expanding its footprint in international markets is likely to have driven revenue growth in the second quarter. The company has been successfully growing its presence across key regions, including the EMEA, the Americas ex-U.S. and the APAC. The EMEA region remains a significant growth driver, with the Middle East joint venture gaining strong momentum and the South Africa joint venture experiencing rapid growth. By capitalizing on brand recognition and leveraging local partnerships, Steven Madden is well-positioned to capture increased market share globally.
The diversification into accessories and apparel continues to be a strong revenue driver for Steven Madden. The company&#39;s handbag and apparel segments have shown robust growth, with new product launches and expanded assortments in key wholesale accounts. The successful integration of the Almost Famous business and the introduction of the Madden Girl Apparel line have further strengthened Steven Madden&#39;s market position in these categories.
Steven Madden&#39;s direct-to-consumer (DTC) channels, particularly digital sales, are expected to have contributed to revenue growth. The company&#39;s investments in enhancing its e-commerce platform and optimizing its digital marketing strategies are paying off, with increased online engagement and higher conversion rates. Additionally, the expansion of brick-and-mortar stores, coupled with effective inventory management and on-trend product assortments, is likely to have driven more sales through DTC channels. We expect revenues from the DTC channel to increase 8.1% year over year during the second quarter.
The recovery in Steven Madden&#39;s U.S. wholesale footwear business is another factor that could have led to increased revenues in the second quarter. After a period of inventory adjustments by major wholesale customers in 2023, the situation has stabilized, and these customers have healthier inventory levels. This stabilization has allowed Steven Madden to return to growth in its U.S. wholesale segment, with improved order volumes and a stronger private label business. We foresee revenues from the wholesale business to increase 16% year over year.
The company&#39;s focus on optimizing supply-chain operations, reducing costs and improving inventory turnover ensures that it can meet customer demand promptly and efficiently. By maintaining a lean operational structure and minimizing disruptions, Steven Madden can maximize its revenue and earnings potential.
<div class="chart_embed">
<h3>Steven Madden, Ltd. Price, Consensus and EPS Surprise</h3>
<img alt="Steven Madden, Ltd. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/de/1722259079.png" style="height:265px; width:576px" title="" />
Steven Madden, Ltd. price-consensus-eps-surprise-chart | Steven Madden, Ltd. Quote
</div>
<h3>What the Zacks Model Unveils</h3>
Our proven model doesn&#39;t conclusively predict an earnings beat for Steven Madden this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that&#39;s not the case here.
Steven Madden currently has a Zacks Rank #3 and an Earnings ESP of 0.00%, thus making the surprise prediction difficult.
<h3>3 Stocks With the Favorable Combination</h3>
Here are three companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
The Gap Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gps#NYSE">GPS</a>) has an Earnings ESP of +4.39% and sports a Zacks Rank of 1 at present. GPS is likely to register top-line growth when it reports second-quarter fiscal 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.63 billion, which suggests 2.2% growth from the figure reported in the year-ago quarter.
The consensus estimate for Gap&#39;s fiscal second-quarter earnings is pegged at 41 cents per share, which calls for 20.6% growth from the figure reported in the year-ago quarter. GPS delivered an earnings beat of 202.7%, on average, in the trailing four quarters.
Abercrombie &amp; Fitch Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anf#NYSE">ANF</a>) has an Earnings ESP of +9.09% and currently sports a Zacks Rank of 1. Abercrombie &amp; Fitch&#39;s top line is anticipated to advance year over year when it reports second-quarter fiscal 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.08 billion, which suggests a 15.1% increase from the figure reported in the year-ago quarter.
The company is expected to register an increase in the bottom line. The consensus estimate for Abercrombie &amp; Fitch&#39;s fiscal second-quarter earnings is pegged at $2.11 per share, up 91.8% from the year-ago quarter. ANF has a trailing four-quarter earnings surprise of 210.3%, on average.
Costco Wholesale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) currently has an Earnings ESP of +1.23% and a Zacks Rank of 2. The company is expected to register top and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COST&#39;s quarterly revenues is pegged at $80 billion, which implies a jump of 1.3% from the year-ago quarter&#39;s reported figure.
The consensus estimate for Costco&#39;s earnings has increased by a penny in the past 30 days to $5.02 per share. The consensus estimate for earnings suggests growth of 3.3% from the year-ago quarter&#39;s reported figure. COST delivered an earnings beat of 2.3%, on average, in the trailing four quarters.
<a href="https://www.zacks.com/stock/news/2311046/steven-madden-shoo-lined-up-for-q2-earnings-what-s-in-store?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2311046">To read this article on Zacks.com click here.</a>

COST

SHOO

Steven Madden Lined Up for Q2 Earnings: What's in Store?

<a href="https://www.cnbc.com/2024/07/29/apple-releases-apple-intelligence-its-long-awaited-ai-features.html" title="https://www.cnbc.com/2024/07/29/apple-releases-apple-intelligence-its-long-awaited-ai-features.html">https://www.cnbc.com/2024/07/29/apple-releases-apple-intelligence-its-long-awaited-ai-features.html</a>

AAPL

'Apple releases first preview of its long-awaited iPhone AI' - CNBC

Deutsche Bank analyst George Hill maintains Molina Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) with a Hold and lowers the price target from $354 to $353.

Deutsche Bank Maintains Hold on Molina Healthcare, Lowers Price Target to $353

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Tuesday, September 05, 2023