Latest news for BBX Capital (OTC:BBXIA) Stock

BBX Capital Inc is a diversified holding company. Its reportable segments are BBX Capital Real Estate, BBX Sweet Holdings, and Renin. It derives maximum profit from BBX Capital Real Estate segment.

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BBXIA

NVCT

Although US stocks closed higher for the fourth session in a row, there were a few notable insider trades.

Insiders Buying BranchOut Food And 2 Other Stocks

Short Ideas

On Friday, shares of Bbx Capital Inc (OTC: BBXIA) experienced volatile short activity. After the activity, the stock price went up +0.64% to $7.85.

The overall sentiment for BBXIA has been Bearish.

Short Volatility Alert: Bbx Capital Inc

BBX Capital Inc

Citigroup analyst Thomas Palmer initiates coverage on Smithfield Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFD#NASDAQ">SFD</a>) with a Buy rating and announces Price Target of $27.

Price Target

Initiation

Analyst Ratings

Citigroup Initiates Coverage On Smithfield Foods with Buy Rating, Announces Price Target of $27

Barclays analyst Benjamin Theurer initiates coverage on Smithfield Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFD#NASDAQ">SFD</a>) with a Overweight rating and announces Price Target of $28.

Barclays Initiates Coverage On Smithfield Foods with Overweight Rating, Announces Price Target of $28

Barclays analyst Benjamin Budish initiates coverage on Blue Owl Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWL#NYSE">OWL</a>) with a Overweight rating and announces Price Target of $29.

Barclays Initiates Coverage On Blue Owl Cap with Overweight Rating, Announces Price Target of $29

Barclays analyst Adrienne Yih upgrades Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) from Underweight to Equal-Weight and raises the price target from $34 to $43.

Upgrades

BBWI

Barclays Upgrades Bath & Body Works to Equal-Weight, Raises Price Target to $43

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.rgare.com%2Fhome&amp;esheet=54212479&amp;newsitemid=20250224564600&amp;lan=en-US&amp;anchor=Reinsurance+Group+of+America%2C+Incorporated&amp;index=1&amp;md5=d64dfc6406b7cfaa605979095e98501c">Reinsurance Group of America, Incorporated</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), a leading global life and health reinsurer, today announced it has entered into an agreement with Equitable Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQH#NYSE">EQH</a>, "Equitable"))) to reinsure a diversified block of life insurance products and expand their strategic partnership.
<ul>
<li>RGA to reinsure $32 billion of a diversified mix of life insurance products</li>
<li>RGA expects to deploy $1.5 billion of capital at closing into this reinsurance transaction</li>
<li>Priced with attractive returns within RGA's target range</li>
<li>Expected to meaningfully contribute to adjusted operating EPS</li>
<li>Broadens RGA's relationship with Equitable across underwriting, product development, distribution, and investment management</li>
</ul>

RGA Strikes $32B Reinsurance Deal With Equitable, Expects $1.5B Deployment in Equitable Deal, Sees Boost to Operating EPS

JP Morgan analyst Chris Schott upgrades Amneal Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRX#NASDAQ">AMRX</a>) from Neutral to Overweight and raises the price target from $9 to $12.

AMRX

JP Morgan Upgrades Amneal Pharmaceuticals to Overweight, Raises Price Target to $12

Jefferies analyst Kaumil Gajrawala upgrades Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) from Hold to Buy and lowers the price target from $155 to $150.

FRPT

Jefferies Upgrades Freshpet to Buy, Lowers Price Target to $150

Cryptocurrency analyst James Van Straten shared his optimistic perspective on Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ongoing market consolidation on Saturday, describing it as &#8220;bullish.&#8221;
What Happened: In an X post, Van Straten noted that, unlike the choppy period of 2024, Bitcoin&#8217;s price has consistently stayed above the Short-Term Holder Realized Price in the current cycle.
As the name suggests, the Short-Term Holder Realized Price is the average price at which short-term investors have purchased their Bitcoin. Historically, when Bitcoin&#8217;s price is above this level, it indicates a bullish market, as &#8220;weak hands,&#8221; known to have a low-risk tolerance, are in profit.
&#8220;Not all consolidations are the same. I've been beating the drum on how bullish this consolidation has been,&#8221; the analyst stated. &#8220;Investors are waiting and not chasing the price but I think impatience may prevail.&#8221;
The analyst went on to say that another dip would be &#8220;healthy&#8221; for the market.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Exactly! Not all consolidations are the same. I've been beating the drum on how bullish this consolidation has been. I've had one limit order filled since November. Investors are waiting and not chasing the price but I think impatience may prevail. Unlike 2024 chop period… <a href="https://t.co/mqfqrEMHcM">https://t.co/mqfqrEMHcM</a> <a href="https://t.co/Yf2YHAqUdJ">pic.twitter.com/Yf2YHAqUdJ</a>
&mdash; James Van Straten (@btcjvs) <a href="https://twitter.com/btcjvs/status/1893184115064627530?ref_src=twsrc%5Etfw">February 22, 2025</a></blockquote>
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Van Straten&#8217;s comments come amidst a challenging time for the crypto market, particularly for leading coins like&nbsp;Bitcoin&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>), which has been struggling to reclaim its $100,000 mark for the past three weeks.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/general/entertainment/25/02/43905274/kanye-west-deletes-x-posts-on-potential-meme-coin-unfollows-changpeng-zhao-whats-he-upto">Kanye West Deletes X Posts On Potential Meme Coin, Unfollows Changpeng Zhao — What&#8217;s He Upto?</a>
Why It Matters: Van Straten&#8217;s comments come amid a challenging time for the cryptocurrency market, particularly for leading coins like Bitcoin, which has been <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43904736/bitcoin-dogecoin-struggle-ethereum-gains-amid-grim-crypto-sentiment-after-bybits-billion-dollar-hack-analyst-says-still-time-left-in-the-cycle">struggling to reclaim its $100,000 mark</a> for the past three weeks.
The rangebound action has impacted speculative interest for the leading coin, with Open Interest in Bitcoin futures falling 10% since the beginning of the month, <a href="https://www.coinglass.com/LiquidationData">according </a>to Coinglass. 
More than 50% of Bitcoin&#8217;s derivatives traders were positioned short as of this writing, suggesting a likelihood of another correction. 
The market has been grappling with the aftermath of a massive $1.4 billion hack on cryptocurrency exchange Bybit, which has significantly impacted leading coins.
Price Action: At the time of writing, Bitcoin was exchanging hands at $95,721.70, down 0.53% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/personal-finance/financial-advisors/25/02/43903229/advisors-remain-divided-on-crypto-but-sec-approvals-demand-are-shifting-views">Advisors Remain Divided On Crypto, But SEC Approvals, Demand Are Shifting Views</a></li>
</ul>
Image via Shutterstock

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

Cryptocurrency

$BTC

Bitcoin Poised For Growth? Analyst Says 'One More Flush' Could Set Stage For Surge

Jefferies analyst Randal Konik upgrades Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) from Hold to Buy and raises the price target from $75 to $115.

Jefferies Upgrades Nike to Buy, Raises Price Target to $115

Jefferies analyst Edison Lee downgrades GDS Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) from Buy to Hold and raises the price target from $27.06 to $45.

Downgrades

Jefferies Downgrades GDS Holdings to Hold, Raises Price Target to $45

Just Eat Takeaway.com N.V. (AMS: TKWY), hereinafter the "Company" or "Just Eat Takeaway.com", one of the world's leading on-demand delivery companies, and Prosus, the global technology company, are pleased to announce they have reached conditional agreement on an envisaged recommended public offer by Prosus for all issued and outstanding shares in the capital of Just Eat Takeaway.com (the "Shares", and each a "Share") of EUR 20.30 (cum dividend) in cash per Share (the "Consideration"). The Offer values a 100% of the Shares at approximately EUR 4.1 billion.

JTKWY

Earlier It Was Announced Prosus To Acquire Just Eat Takeaway.com For €4.1B In Cash

Sasol's financial performance for the six months ended 31&nbsp;December&nbsp;2024 was impacted by a challenging macroeconomic and operating environment. Stringent cost and efficient capital management helped to off-set the impact and improve free cash flow generation compared to the six months ended 31&nbsp;December&nbsp;2023 (the prior period).
Revenue of R122,1 billion is 10% lower than the prior period, mainly as a result of:
<ul>
<li>A 13% decline in the average Rand per barrel Brent crude oil price and a significant decline in refining margins and fuel price differentials; and</li>
<li>A 5% decrease in sales volumes as a result of lower production and lower market demand as detailed in the Production and Sales Metrics published on 23 January 2025.</li>
</ul>
Adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA) of R23,9&nbsp;billion is 15% lower compared to the prior period mainly as a result of the aforementioned lower revenue with stringent cost management implemented in response helping to mitigate the impact. The relative contribution from International Chemicals increased from 6% to 13%.
Earnings before interest and tax (EBIT) of R9,5 billion is 40% lower than the prior period and impacted by non-cash adjustments including:
<ul>
<li>A net loss of R6,2 billion from remeasurement items compared to a net loss of R5,8 billion in the prior period, mainly due to further impairments of the Secunda liquid fuels refinery cash generating unit (CGU) of R5,0 billion and the Sasolburg liquid fuels refinery CGU of R0,6 billion. Both CGUs remain fully impaired, resulting in amounts capitalised during the current period being impaired.</li>
<li>Unrealised losses of R0,1 billion on the translation of monetary assets and liabilities, and valuation of financial instruments and derivative contracts compared to unrealised gains of R2,7 billion in the prior period.</li>
</ul>
As a result of the above, basic earnings per share (EPS) decreased by 52% to R7,22 per share and Headline earnings per share (HEPS) decreased by 31% to R14,13 per share compared to the prior period.
Cash generated by operating activities increased by 20% to R17,6 billion compared to the prior period mainly due to changes in working capital. Capital expenditure, excluding movement in capital project related payables, amounted to R15,0 billion, 6% lower than the prior period.
At 31 December 2024, our total debt was R116,9 billion (US$6,2 billion) compared to R117,7&nbsp;billion (US$6,5 billion) at 30 June 2024. Sasol deposited R5,4 billion (US$0,3 billion) on the Revolving credit facility during the current period. Our net debt (excluding leases) was R81,8&nbsp;billion (US$4,3 billion) compared to R73,7 billion (US$4,1 billion) at 30 June 2024 with the increase due to the aforementioned negative free cash flow.

Earnings

Sasol Ltd Reported Revenue Decline Of 10% In 6 Months Ended Dec 31, 2024, Adj EPS Decline Of 31%

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) senior executive Lars Moravy said in an interview published on Sunday that the company is indeed working with Elon Musk&#8216;s rocket manufacturing company SpaceX for its upcoming Roadster vehicle.
What Happened: Moravy, in an interview with Ryan McCaffrey recorded on Feb.13 and published on Sunday, said that the company is indeed working with SpaceX for the upcoming Roadster and that the company convened a meeting about the Roadster merely two days before the interview.
&#8220;Oh it is definitely real,&#8221; Moravy said in response to the rising doubts among enthusiasts about the upcoming Roadster. 
&#8220;We&#8217;re working with SpaceX on that now&#8230;. Cold gas thrusters are super cool and they add a certain level of, you know, breaking the laws of motor physics,&#8221; Moravy said.
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Tesla intends to start production of the new Roadster in 2025. The sports car will be a tribute to Tesla&#8217;s first EV – the limited-production original Roadster produced by the company between 2008 and 2012.
Why It Matters: The new generation Roadster prototype was showcased at the end of the event dedicated to unveiling the Tesla Semi on November 16, 2017. Tesla then said the vehicle would be available starting in 2020 and priced around $200,000.
However, the production timeline for the vehicle has been pushed several times since.
In February 2024, Musk said that the upcoming Tesla Roadster can accelerate from&nbsp;<a href="https://www.benzinga.com/news/24/05/38817313/tesla-ceo-elon-musk-says-making-new-roadster-only-as-fast-as-model-s-plaid-would-be-ridiculous" target="_blank" rel="noreferrer noopener">0 to 60 mph in less than 1 second</a>, lower than the company's initial estimate of 1.9 seconds. The vehicle relies on a collaboration between Musk's two companies- Tesla and rocket manufacturer SpaceX- to provide the incredible performance, he added.
Tesla&#8217;s Model S Plaid, its fastest vehicle in production, can accelerate to 60 mph only in about 2 seconds. 
Musk has previously warned that the upcoming Roadster will not move Tesla's financials in a big way.
&#8220;Financially, it&#8217;s sort of a small potato situation. It&#8217;s not going to move the needle in a major way financially. It&#8217;s not even the icing on the cake but the cherry on the icing on the cake,&#8221; Musk said about the Roadster in an&nbsp;<a href="https://www.benzinga.com/news/23/05/32589810/wen-tesla-roadster-elon-musk-has-an-update-for-you" target="_blank" rel="noreferrer noopener">interview with</a>&nbsp;Ford&nbsp;CEO&nbsp;Jim Farley&nbsp;in May 2023.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43905539/elon-musk-led-spacex-to-undertake-starships-8th-test-flight-on-friday" target="_blank" rel="noreferrer noopener">Elon Musk's SpaceX To Undertake Starship's 8th Test Flight On Friday</a></li>
</ul>
Image via Shutterstock

SPACE

Tech

TSLA

Tesla Exec Confirms Roadster Update Talks, Collaboration With SpaceX For Top Specs

Robert F. Kennedy Jr.&#8216;s appointment as U.S. Secretary of Health and Human Services has sparked concerns over funding for the National Institutes of Health. Analysts warn that potential cuts to this funding could lead to increased &#8220;uncertainty&#8221; in the healthcare sector, potentially impacting healthcare stocks.
What Happened: The NIH grants are &#8220;very important&#8221; sources of funding for a lot of labs out there, said Kyle Mikson, managing director and senior research analyst in <a href="https://www.buzzsprout.com/2414939/episodes/16662667">conversation</a> with Michael Graham, senior managing director and head of U.S. equity research internet analyst at Canaccord Genuity. 
Talking about RFK Jr.&#8217;s appointment Mikson said &#8220;He&#8217;s got some opposition to vaccines, to infectious disease research.&#8221; Highlighting the possible funding cuts along with caps on grants, Mikson added, "Things like that are causing uncertainty, causing, you know, stocks to decline."
Kennedy, known for his vaccine skepticism and conspiracy theories, has extended his influence globally, undermining health initiatives like vaccination and AIDS prevention, The New York Times <a href="https://www.nytimes.com/2024/11/30/world/africa/rfk-jr-kennedy-international-work-public-health-policies.html">reports</a>. Through his nonprofit, Children's Health Defense, Kennedy has <a href="https://www.benzinga.com/markets/equities/24/11/42254495/trumps-hhs-pick-rfk-jr-has-a-long-history-of-challenging-global-health-policies">disrupted public health efforts</a> in countries like Uganda and South Africa. He has also questioned the World Health Organization and its programs for fueling global health conspiracies.
The Donald Trump-led <a href="https://www.benzinga.com/general/health-care/25/01/43194764/trump-administration-halts-all-communications-from-the-centers-for-disease-control-as-bird-flu-spreads">administration</a> is trying to set caps at around 15% and 10% for some labs which is delayed due to broad opposition by many states. While this is detrimental to some NIH-funded labs, others have stated that they can function without indirect cost funding or support.
While, NIH awarded about $2.5 billion in grants in the first six weeks of 2024, this year, that number has plummeted to $1.4 billion.
See Also: <a href="https://www.benzinga.com/25/02/43906366/warren-buffetts-berkshire-boosts-bets-on-five-japanese-companies-admiration-has-consistently-grown-says-oracle-of-omaha-in-letter-to-shareholders">Warren Buffett&#8217;s Berkshire Boosts Bets On 5 Japanese Companies: Oracle Of Omaha Says Admiration &#8216;Has Consistently Grown&#8217;</a>
Why It Matters: While there isn't going to be a blanket impact of these caps on all healthcare firms, Mikson explains that companies that are academically focused are more likely to be impacted as compared to the ones with a mixed revenue base.
However, when considering investment opportunities, especially for growth-oriented companies with research-driven businesses, the impact is particularly important, Mikson explained.
According to the <a href="https://www.benzinga.com/markets/equities/25/02/43878703/institutional-investors-load-up-on-technology-and-financial-stocks-in-q4-while-reducing-positions-in-healthcare-sector-amid-political-uncertainty">13F SEC filings</a> during the fourth quarter, healthcare sectors experienced a sharp decline in investments, with allocations dropping by 1.4%. Adam Turnquist, the chief technical strategist at LPL Financial said that "The nomination of the so-called anti-vaccine Health Secretary, Robert F. Kennedy, Jr., and the potential for reduced Affordable Care Act subsidies," was also a potential trigger.
Kennedy&#8217;s appointment comes as healthcare costs rise and <a href="https://www.benzinga.com/general/health-care/25/02/43549057/deadly-bird-flu-strain-hits-dairy-cows-could-make-covid-seem-like-a-walk-in-the-park-expert-says">bird flu spreads</a>, raising pandemic concerns. A longtime vaccine skeptic, his stance could impact pharmaceutical companies like Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), especially as he has questioned the safety and efficacy of bird flu vaccines.
Here is a list of healthcare sector-linked exchange-traded funds, that investors could consider while trying to gain exposure to the sector.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETF Name</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>6.41%</td>
<td>-0.46%</td>
</tr>
<tr>
<td>Vanguard Health Care ETF VHT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VHT#NYSE">VHT</a>)</td>
<td>5.79%</td>
<td>-0.19%</td>
</tr>
<tr>
<td>iShares Biotechnology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NASDAQ">IBB</a>)</td>
<td>4.51%</td>
<td>-0.18%</td>
</tr>
<tr>
<td>SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>)</td>
<td>0.19%</td>
<td>-5.79%</td>
</tr>
<tr>
<td>iShares U.S. Medical Devices ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHI#NYSE">IHI</a>)</td>
<td>10.36%</td>
<td>12.22%</td>
</tr>
<tr>
<td>iShares Global Healthcare ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXJ#NYSE">IXJ</a>)</td>
<td>6.67%</td>
<td>-0.57%</td>
</tr>
<tr>
<td>iShares U.S. Healthcare ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYH#NYSE">IYH</a>)</td>
<td>5.52%</td>
<td>-0.26%</td>
</tr>
<tr>
<td>Fidelity MSCI Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHLC#NYSE">FHLC</a>)</td>
<td>5.90%</td>
<td>-0.27%</td>
</tr>
<tr>
<td>ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>)</td>
<td>10.14%</td>
<td>-14.26%</td>
</tr>
<tr>
<td>First Trust NYSE Arca Biotechnology Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBT#NYSE">FBT</a>)</td>
<td>6.72%</td>
<td>16.97%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/02/43878703/institutional-investors-load-up-on-technology-and-financial-stocks-in-q4-while-reducing-positions-in-healthcare-sector-amid-political-uncertainty">Institutional Investors Load Up On Technology And Financial Stocks In Q4 While Reducing Positions In Healthcare Sector Amid Political Uncertainty</a></li>
</ul>
Image Via Shutterstock

Analyst Color

Equities

Government

Market Summary

Regulations

ETFs

General

ARKG

First Trust NYSE Arca Biotechnology Index Fund

FHLC

iShares Dow Jones US Medical Devices Index Fund

iShares Trust S&P Global Healthcare Sector Index Fund

iShares Trust Dow Jones US Healthcare Sector Index Fund

MRNA

NIH Funding Cuts To Spook Healthcare Stocks? RFK Jr's Confirmation At HHS Sparks Concerns Over Research Dollars, 'Causing Uncertainty,' Says Analyst

Macro Economic Events

Econ #s

Economics

Eurozone Consumer Price Index (YoY) For January 2.5% Vs. 2.5% Est.; 2.4% Prior

Eurozone Consumer Price Index (MoM) For January -0.3% Vs. -0.3% Est.; 0.4% Prior

Eurozone Core Consumer Price Index (YoY) For January 2.7% Vs. 2.7% Est.; 2.7% Prior

The Department of Government Efficiency (DOGE), overseen by Tesla CEO Elon Musk, has been found to overstate its savings from federal spending cuts.
What Happened: The DOGE, which has been promoting cuts amounting to $55 billion, primarily from canceled DEI and climate contracts, might not be as successful as it says, <a href="https://www.wsj.com/politics/policy/elon-musk-doge-federal-savings-claims-783b9507">according</a> to The Wall Street Journal. 
The WSJ analysis of government contract data provided by Deltek, a government contracting expert and data provider, indicates that the actual savings may be much lower, potentially around $2.6 billion over the next year if spending levels remain unchanged. Only about 2% of the funds would have gone to DEI-related contracts.
White House did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment.
Research-focused agencies, including the Education Department and the Department of Health and Human Services, were the primary targets of these budget cuts. DOGE canceled contracts valued at over $900 million last year, affecting more than 60 agreements with the Department of Health and Human Services.
Notably, government contracts involving over 500 companies have been published on the DOGE website. It states that the defense engineering company Leidos had its contract for supporting the Social Security Administration's technology canceled.DOGE stated that this could result in savings of approximately $230 million. However, Leidos clarified, &#8221;&nbsp;"Our work supporting the Social Security Administration, and the millions of Americans it serves, is on contract and ongoing.&#8221;
Although DOGE says its estimates are conservative, experts told the WSJ that the total savings displayed on its site are likely overstated. More than a quarter of the contracts listed by DOGE had already been paid, leading to no real savings.
SEE ALSO: <a href="https://www.benzinga.com/tech/25/02/43906182/tesla-begins-hiring-for-cybercab-manufacturing-as-elon-musk-led-ev-giant-prepares-for-robotaxi-rollout">Tesla Begins Hiring For Cybercab Manufacturing As Elon Musk-Led EV Giant Prepares For Robotaxi Rollout</a>
Why It Matters: These findings come in the wake of previous controversies surrounding DOGE. Last week, DOGE faced criticism when its website, which was supposed to host all departmental updates, was found to be&nbsp;<a href="https://www.benzinga.com/news/25/02/43801493/this-says-it-all-says-mark-cuban-as-doge-website-was-still-blank-despite-musks-claim-that-all-department-actions-were-posted-there">completely blank</a>. Mark Cuban, a longtime advocate for reducing government size and enhancing efficiency, criticized Musk on social media because of this, stating, "This says it all."
Furthermore, the &#8216;DOGE dividend&#8217;, endorsed by President Donald Trump and Elon Musk, which proposes to return 20% of the savings from DOGE initiatives to American citizens has raised eyebrows. &nbsp;Erica York, Vice President of federal tax policy at the Tax Foundation, cautioned that <a href="https://www.benzinga.com/25/02/43839658/trumps-20-doge-dividend-tax-refund-plan-might-cripple-entire-effort-says-tax-expert">spending the savings</a> would "reduce the effectiveness of the entire effort." Meanwhile, Jessica Riedl, Senior Fellow at the&nbsp;Manhattan Institute, posted on X that with nearly $2 billion in budget deficit estimated $4 billion in DOGE savings would translate to just $2.42 per person if evenly distributed.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43806208/elon-musks-doge-reports-nearly-47t-untraceable-in-federal-payments-makes-tas-tag-mandatory">Elon Musk&#8217;s DOGE Reports Nearly $4.7 Trillion Untraceable In Federal Payments, Makes TAS Tag Mandatory</a></li>
</ul>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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BBX Capital, Inc. Reports Financial Results For the Fourth Quarter and Full Year of 2023

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BBXIB

BBX Capital

Although US stocks closed higher for the fourth session in a row, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.

<h3>BranchOut Food </h3>

<ul>
	<li>The Trade: BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) Director John Dalfonsi <a href="https://www.benzinga.com/quote/CULP/analyst-ratings"> acquired a total of 30,000 shares </a> an average price of $5.81. To acquire these shares, it cost around $174,400.</li>
	<li>What&rsquo;s Happening: BranchOut Food recently announced product development program with U.S. Army to revolutionize MREs with GentleDry technology.</li>
	<li>What BranchOut Food Does: Branchout Food inc is an international food-tech company delivering truly extraordinary natural snacks and real superfood ingredients enabled by Its new, licensed dehydration technology.</li>
</ul>

<h3>Nuvectis Pharma </h3>

<ul>
	<li>The Trade: Nuvectis Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVCT#NASDAQ">NVCT</a>) 10% owner Charles Mosseri-Marlio acquired a total of 3,285 shares at an average price of $15.09. To acquire these shares, it cost around $49,571.</li>
	<li>What&rsquo;s Happening: Nuvectis Pharma recently announced FDA clearance of NXP900 IND.</li>
	<li>What Nuvectis Pharma Does: Nuvectis Pharma Inc is a biopharmaceutical company. The company is engaged in the development of innovative precision medicines for the treatment of serious conditions of unmet medical needs in oncology.</li>
</ul>

Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 

<h3>BBX Capital </h3>

<ul>
	<li>The Trade: BBX Capital, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BBXIA#OTC">BBXIA</a>) CEO and President Jarett Levan <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 141,577 shares </a> at an average price of $11.20. To acquire these shares, it cost around $1.36 million.</li>
	<li>What&rsquo;s Happening: The company posted first-quarter diluted earnings per share of $0.55, compared to year-ago diluted loss per share of $0.12.</li>
	<li>What BBX Capital Does: BBX Capital Inc is a diversified holding company. Its principal investments include BBX Capital Real Estate, Renin, and BBX Sweet Holdings.</li>
</ul>

&nbsp;

Check This Out: <a href="https://www.benzinga.com/news/earnings/23/07/33226910/citigroup-likely-to-report-lower-q2-earnings-heres-a-look-at-recent-price-target-changes-by-the-mos"> Citigroup Likely To Report Lower Q2 Earnings; Here&#39;s A Look At Recent Price Target Changes By The Most Accurate Analysts </a>

On Friday, shares of Bbx Capital Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BBXIA#OTC">BBXIA</a>) experienced volatile short activity. After the activity, the stock price went up +0.64% to $7.85.

The overall sentiment for BBXIA has been Bearish.

The signal from the volatility alert is trending Bullish. Therefore, the recommendation is to Decrease Short Exposure.

The volatility alert was produced on the prior trading date, 4/21/2023 with a volatility change of +65.46%. The current volatility indicator stands at 8.22.

Overview:
The securities lending volatility indicator is produced by Tidal Markets, in partnership with Benzinga Insights. Securities lending primarily serves the purpose of providing liquidity to short sellers. When unusual activity occurs in the securities lending markets, it acts as an upstream indicator to what is likely to occur downstream in the regular stock market.

Understanding the Volatility Alert:
Overall sentiment is considered &quot;bear&quot; when broad market activity of the stock has been shown to indicate a negative directional basis, or is considered &quot;bull&quot; when indicating a positive directional basis. The securities lending volatility indicator provides a signal when it detects unusual short activity. Unusual short activity is based off a computer generated algorithmic formula utilizing securities lending trade details such as the volume of shares being shorted, the rate being paid to short the shares, and the type of collateral being posted - amongst other variables. The current volatility is the respective trading day&#39;s calculated securities lending volatility value. The volatility percentage change is the percentage difference in volatility between the two most recent days. The recommendation is a suggestive strategy, inferred from the strength of the Signal Trending, Current Volatility, and Volatility % Change. Recommendations may include, &quot;Strong Buy&quot;, &quot;Strong Sell&quot;, &quot;Increase Short Exposure&quot;, &quot;Decrease Short Exposure&quot;, or &quot;Market Neutral&quot;.

ANY INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR IMPLY INVESTMENT ADVICE

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