Budweiser Brewing Co APAC Stock (OTC: BDWBF)

Latest news for Budweiser Brewing Co APAC (OTC:BDWBF) Stock

Budweiser APAC is the largest brewer in Asia by retail sales value and the second largest by volume, according to Euromonitor. After 10% of the business was listed on the Hong Kong exchange in 2019, parent company Anheuser-Busch InBev owns close to 90% of the company's equity.Budweiser APAC's largest markets are China (roughly 80% of 2023 revenue), South Korea (12%), and India (6%). The remaining 2% comprises Japan, New Zealand, and other export markets in the Asia-Pacific region. The company predominantly produces, imports, markets, distributes, and sells a portfolio of more than 50 beer brands, both owned and licensed, including global brands Budweiser, Stella Artois, and Corona along with multicountry brands and local brands such as Hoegaarden, Cass and Harbin.

Asia

Markets

General

BDWBF

Key Takeaways:


	Budweiser APAC’s profit fell 15% in the first nine months of the year as its revenue in China fell 16.1% in the third quarter
	The mainstream beer maker’s efforts to develop higher-end products may be meeting with headwinds from increasingly cautious Chinese consumer


By Lau Chi Hang

Budweiser&#39;s China Glass Drains As Consumers Have Less To Toast

BUDWEISER BREWING CO by BUDWEISER BREWING CO APAC LTD.

Budweiser Brewing Co APAC Ltd

News

Analyst Ratings

Trading Ideas

SNOW

Live On CNBC, Stephanie Link Announces Bought More Snowflake

Court's Decision Rejects Nano's Shameless and Desperate Attempt to Disenfranchise Shareholders By Claiming ADS Holders Have No Rights
Murchinson is Pleased with the Court's Ruling and Will Continue its Efforts to Improve Nano's Broken Corporate Governance, Halt the Pattern of Hypocritical Actions and Protect All Shareholders' Interests Through Current Proxy Contest
Murchinson Urges Nano's Board to Comply with the Court's Decision Immediately and Avoid Costly Legal Maneuvers or Other Attempts to Evade Implementing What Shareholders Voted For
Murchinson Ltd. (collectively with its affiliates and funds it advises and/or sub-advises, "Murchinson" or "we"), a significant shareholder with approximately 7.1% of the outstanding shares of Nano Dimension Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNDM#NASDAQ">NNDM</a>) ("Nano" or the "Company") today announced that, on November 21, 2024, the District Court for the Central District in Israel (the "Court") delivered its long-awaited decision regarding the results of the Nano special meeting held in March 2023 (the "March 2023 EGM"). The Court has fully validated the results of the March 2023 EGM.
At the March 2023 EGM, shareholders overwhelmingly supported all of Murchinson's proposals to:
<ul>
<li>Amend the Articles of Association of Nano to allow shareholders to fill vacancies on the Board of Directors (the "Board"). This right was previously available only to the Board.</li>
<li>Amend the Articles of Association of Nano to allow shareholders to remove directors from the Board at any general meeting and via a simple majority. Previously, shareholders had no such right to hold directors accountable between annual meetings and could only do so with a special majority.</li>
<li>Remove four then-serving directors: Yoav Stern, Yoav Nissan-Cohen, Oded Gera and Igal Rotem. Notably, Mr. Rotem has since resigned from the Board, but Messrs. Stern, Nissan-Cohen and Gera continued to serve on the Board.</li>
<li>Install two independent and highly-qualified professionals on the Board: Kenneth Traub and Dr. Joshua Rosensweig.</li>
</ul>
The Court's decision confirms that Mr. Traub and Dr. Rosensweig are full members of the Board, and that Messrs. Stern, Nissan-Cohen and Gera were lawfully removed from the Board at the March 2023 EGM.

Legal

NNDM

Israeli District Court Rules In Favor Of Murchinson And Validates Shareholder Vote From The Nano Dimension March 2023 Special Meeting; Says "Murchinson Urges Nano's Board To Comply With The Court's Decision Immediately And Avoid Costly Legal Maneuvers Or Other Attempts To Evade Implementing What Shareholders Voted For"

Stifel analyst Lars Kjellberg initiates coverage on Mativ Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MATV#NYSE">MATV</a>) with a Hold rating and announces Price Target of $15.5.

Price Target

Initiation

MATV

Stifel Initiates Coverage On Mativ Holdings with Hold Rating, Announces Price Target of $15.5

Tigress Financial analyst Ivan Feinseth maintains Lyft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) with a Buy and raises the price target from $24 to $26.

LYFT

Tigress Financial Maintains Buy on Lyft, Raises Price Target to $26

Stifel analyst Mark Astrachan maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Hold and lowers the price target from $165 to $137.

Stifel Maintains Hold on Target, Lowers Price Target to $137

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$15.00</td>
<td>$469.4K</td>
<td>48.2K</td>
<td>6.5K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/22/24</td>
<td>$305.00</td>
<td>$55.1K</td>
<td>442</td>
<td>2.1K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$72.50</td>
<td>$42.2K</td>
<td>13.1K</td>
<td>2.0K</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/29/24</td>
<td>$242.50</td>
<td>$34.0K</td>
<td>369</td>
<td>537</td>
</tr>
<tr>
<td>LMND</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$37.00</td>
<td>$44.0K</td>
<td>1.0K</td>
<td>415</td>
</tr>
<tr>
<td>FOUR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$110.00</td>
<td>$33.5K</td>
<td>241</td>
<td>242</td>
</tr>
<tr>
<td>BX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$200.00</td>
<td>$71.6K</td>
<td>0</td>
<td>204</td>
</tr>
<tr>
<td>AFRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$55.00</td>
<td>$43.2K</td>
<td>46</td>
<td>176</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option sweep that happens to be bearish, expiring in 421 day(s) on January 16, 2026. This event was a transfer of 1005 contract(s) at a $15.00 strike. This particular call needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $469.4K, with a price of $464.0 per contract. There were 48240 open contracts at this strike prior to today, and today 6580 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option trade with bullish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 50 contract(s) at a $305.00 strike. The total cost received by the writing party (or parties) was $55.1K, with a price of $1103.0 per contract. There were 442 open contracts at this strike prior to today, and today 2179 contract(s) were bought and sold. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a call option trade with bearish sentiment. It expires in 211 day(s) on June 20, 2025. Parties traded 100 contract(s) at a $72.50 strike. The total cost received by the writing party (or parties) was $42.2K, with a price of $422.0 per contract. There were 13181 open contracts at this strike prior to today, and today 2000 contract(s) were bought and sold. 
• For JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we notice a call option sweep that happens to be bearish, expiring in 8 day(s) on November 29, 2024. This event was a transfer of 100 contract(s) at a $242.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $34.0K, with a price of $341.0 per contract. There were 369 open contracts at this strike prior to today, and today 537 contract(s) were bought and sold. 
• Regarding LMND (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>), we observe a put option trade with neutral sentiment. It expires in 57 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $37.00 strike. The total cost received by the writing party (or parties) was $44.0K, with a price of $220.0 per contract. There were 1003 open contracts at this strike prior to today, and today 415 contract(s) were bought and sold. 
• Regarding FOUR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>), we observe a call option trade with bullish sentiment. It expires in 57 day(s) on January 17, 2025. Parties traded 50 contract(s) at a $110.00 strike. The total cost received by the writing party (or parties) was $33.5K, with a price of $670.0 per contract. There were 241 open contracts at this strike prior to today, and today 242 contract(s) were bought and sold. 
• Regarding BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we observe a put option trade with bearish sentiment. It expires in 92 day(s) on February 21, 2025. Parties traded 47 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $71.6K, with a price of $1525.0 per contract. There were 0 open contracts at this strike prior to today, and today 204 contract(s) were bought and sold. 
• For AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we notice a put option sweep that happens to be bearish, expiring in 211 day(s) on June 20, 2025. This event was a transfer of 48 contract(s) at a $55.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $43.2K, with a price of $900.0 per contract. There were 46 open contracts at this strike prior to today, and today 176 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AFRM

COIN

FOUR

LMND

SOFI

8 Financials Stocks Whale Activity In Today's Session

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/22/24</td>
<td>$360.00</td>
<td>$33.6K</td>
<td>22.5K</td>
<td>44.3K</td>
</tr>
<tr>
<td>AMZN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/22/24</td>
<td>$195.00</td>
<td>$181.5K</td>
<td>9.4K</td>
<td>13.9K</td>
</tr>
<tr>
<td>PDD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/22/24</td>
<td>$108.00</td>
<td>$26.8K</td>
<td>1.8K</td>
<td>1.7K</td>
</tr>
<tr>
<td>MBLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$15.00</td>
<td>$76.8K</td>
<td>7.1K</td>
<td>1.1K</td>
</tr>
<tr>
<td>XPEV</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$12.00</td>
<td>$106.5K</td>
<td>78</td>
<td>1.0K</td>
</tr>
<tr>
<td>GM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$55.00</td>
<td>$134.5K</td>
<td>2.3K</td>
<td>494</td>
</tr>
<tr>
<td>FL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/06/24</td>
<td>$22.00</td>
<td>$40.8K</td>
<td>402</td>
<td>400</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$80.00</td>
<td>$33.3K</td>
<td>295</td>
<td>305</td>
</tr>
<tr>
<td>MMYT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$125.00</td>
<td>$25.3K</td>
<td>8</td>
<td>161</td>
</tr>
<tr>
<td>PTON</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$10.00</td>
<td>$37.5K</td>
<td>408</td>
<td>150</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a call option sweep with bearish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 350 contract(s) at a $360.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $33.6K, with a price of $96.0 per contract. There were 22567 open contracts at this strike prior to today, and today 44374 contract(s) were bought and sold. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a put option sweep with bearish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 1261 contract(s) at a $195.00 strike. This particular put needed to be split into 38 different trades to become filled. The total cost received by the writing party (or parties) was $181.5K, with a price of $144.0 per contract. There were 9445 open contracts at this strike prior to today, and today 13975 contract(s) were bought and sold. 
• Regarding PDD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), we observe a put option sweep with bearish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 80 contract(s) at a $108.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.8K, with a price of $335.0 per contract. There were 1878 open contracts at this strike prior to today, and today 1764 contract(s) were bought and sold. 
• For MBLY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), we notice a call option trade that happens to be bullish, expiring in 57 day(s) on January 17, 2025. This event was a transfer of 233 contract(s) at a $15.00 strike. The total cost received by the writing party (or parties) was $76.8K, with a price of $330.0 per contract. There were 7128 open contracts at this strike prior to today, and today 1186 contract(s) were bought and sold. 
• For XPEV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), we notice a call option sweep that happens to be bearish, expiring in 120 day(s) on March 21, 2025. This event was a transfer of 500 contract(s) at a $12.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $106.5K, with a price of $213.0 per contract. There were 78 open contracts at this strike prior to today, and today 1086 contract(s) were bought and sold. 
• Regarding GM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), we observe a call option sweep with bearish sentiment. It expires in 120 day(s) on March 21, 2025. Parties traded 272 contract(s) at a $55.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $134.5K, with a price of $495.0 per contract. There were 2392 open contracts at this strike prior to today, and today 494 contract(s) were bought and sold. 
• Regarding FL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>), we observe a call option sweep with bearish sentiment. It expires in 15 day(s) on December 6, 2024. Parties traded 160 contract(s) at a $22.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $40.8K, with a price of $255.0 per contract. There were 402 open contracts at this strike prior to today, and today 400 contract(s) were bought and sold. 
• For BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we notice a call option trade that happens to be bullish, expiring in 147 day(s) on April 17, 2025. This event was a transfer of 30 contract(s) at a $80.00 strike. The total cost received by the writing party (or parties) was $33.3K, with a price of $1110.0 per contract. There were 295 open contracts at this strike prior to today, and today 305 contract(s) were bought and sold. 
• Regarding MMYT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>), we observe a call option sweep with bullish sentiment. It expires in 92 day(s) on February 21, 2025. Parties traded 46 contract(s) at a $125.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.3K, with a price of $550.0 per contract. There were 8 open contracts at this strike prior to today, and today 161 contract(s) were bought and sold. 
• For PTON (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>), we notice a put option trade that happens to be bearish, expiring in 147 day(s) on April 17, 2025. This event was a transfer of 150 contract(s) at a $10.00 strike. The total cost received by the writing party (or parties) was $37.5K, with a price of $250.0 per contract. There were 408 open contracts at this strike prior to today, and today 150 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMZN

BABA

MBLY

MMYT

Citigourp Global Markets 2% Protected Notes Linked To The Djia

PTON

TSLA

XPEV

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/22/24</td>
<td>$155.00</td>
<td>$45.1K</td>
<td>174.0K</td>
<td>260.1K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/22/24</td>
<td>$30.00</td>
<td>$36.3K</td>
<td>33.8K</td>
<td>43.0K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/22/24</td>
<td>$227.50</td>
<td>$54.2K</td>
<td>14.2K</td>
<td>30.6K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/22/24</td>
<td>$550.00</td>
<td>$31.2K</td>
<td>4.7K</td>
<td>12.2K</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/22/24</td>
<td>$167.50</td>
<td>$38.5K</td>
<td>1.9K</td>
<td>12.1K</td>
</tr>
<tr>
<td>CRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$360.00</td>
<td>$138.9K</td>
<td>3.4K</td>
<td>3.0K</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/29/24</td>
<td>$136.00</td>
<td>$109.2K</td>
<td>2.5K</td>
<td>2.5K</td>
</tr>
<tr>
<td>RCAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$8.00</td>
<td>$26.0K</td>
<td>2.6K</td>
<td>2.2K</td>
</tr>
<tr>
<td>IONQ</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$28.00</td>
<td>$98.2K</td>
<td>5.0K</td>
<td>2.0K</td>
</tr>
<tr>
<td>DDOG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/29/24</td>
<td>$150.00</td>
<td>$27.0K</td>
<td>1.1K</td>
<td>1.4K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bearish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 4029 contract(s) at a $155.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $45.1K, with a price of $11.0 per contract. There were 174065 open contracts at this strike prior to today, and today 260113 contract(s) were bought and sold. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 300 contract(s) at a $30.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $36.3K, with a price of $121.0 per contract. There were 33874 open contracts at this strike prior to today, and today 43077 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 217 contract(s) at a $227.50 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $54.2K, with a price of $250.0 per contract. There were 14297 open contracts at this strike prior to today, and today 30643 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option trade that happens to be bullish, expiring in 1 day(s) on November 22, 2024. This event was a transfer of 50 contract(s) at a $550.00 strike. The total cost received by the writing party (or parties) was $31.2K, with a price of $624.0 per contract. There were 4751 open contracts at this strike prior to today, and today 12223 contract(s) were bought and sold. 
• Regarding SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we observe a call option trade with bullish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 100 contract(s) at a $167.50 strike. The total cost received by the writing party (or parties) was $38.5K, with a price of $385.0 per contract. There were 1912 open contracts at this strike prior to today, and today 12121 contract(s) were bought and sold. 
• For CRM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), we notice a call option sweep that happens to be bullish, expiring in 29 day(s) on December 20, 2024. This event was a transfer of 142 contract(s) at a $360.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $138.9K, with a price of $977.0 per contract. There were 3442 open contracts at this strike prior to today, and today 3041 contract(s) were bought and sold. 
• Regarding AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we observe a put option sweep with bearish sentiment. It expires in 8 day(s) on November 29, 2024. Parties traded 473 contract(s) at a $136.00 strike. This particular put needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $109.2K, with a price of $231.0 per contract. There were 2543 open contracts at this strike prior to today, and today 2546 contract(s) were bought and sold. 
• For RCAT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>), we notice a call option sweep that happens to be bearish, expiring in 29 day(s) on December 20, 2024. This event was a transfer of 200 contract(s) at a $8.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $130.0 per contract. There were 2673 open contracts at this strike prior to today, and today 2236 contract(s) were bought and sold. 
• Regarding IONQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>), we observe a put option trade with bearish sentiment. It expires in 29 day(s) on December 20, 2024. Parties traded 390 contract(s) at a $28.00 strike. The total cost received by the writing party (or parties) was $98.2K, with a price of $252.0 per contract. There were 5055 open contracts at this strike prior to today, and today 2096 contract(s) were bought and sold. 
• Regarding DDOG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>), we observe a call option sweep with bullish sentiment. It expires in 8 day(s) on November 29, 2024. Parties traded 227 contract(s) at a $150.00 strike. This particular call needed to be split into 32 different trades to become filled. The total cost received by the writing party (or parties) was $27.0K, with a price of $119.0 per contract. There were 1101 open contracts at this strike prior to today, and today 1472 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AAPL

DDOG

IONQ

MSTR

NVDA

RCAT

SMCI

10 Information Technology Stocks With Whale Alerts In Today's Session

D. Boral Capital analyst Jason Kolbert maintains ImmunityBio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) with a Buy and maintains $30 price target.

IBRX

D. Boral Capital Maintains Buy on ImmunityBio, Maintains $30 Price Target

Stifel analyst Erik Rasmussen maintains Digital Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>) with a Buy and raises the price target from $195 to $205.

Stifel Maintains Buy on Digital Realty Trust, Raises Price Target to $205

Macro Economic Events

Economics

Federal Reserve

Citadel's Griffin Says The U.S. Does Not Have Fiscal Room To Cut Taxes; Inflation Is Running Hotter Than Desired

On CNBC, Fed's Williams Forecasts Potential Growth At 2.25%-2.5%, Up From 2.0%

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining by more than 400 points on Thursday.
The Dow traded up 1.03% to 43,855.97 while the NASDAQ fell 0.10% to 18,948.11. The S&amp;P 500 also rose, gaining, 0.41% to 5,941.38.
Check This Out: <a href="https://www.benzinga.com/24/11/42086207/jim-cramer-likes-devon-energy-but-says-this-energy-stock-is-far-superior-to-devon">Jim Cramer Likes Devon Energy, But Calls Another Stock &#8216;Far Superior</a>&#8216;
Leading and Lagging Sectors Energy shares rose by 1.5% on Thursday.
In trading on Thursday, communication services shares fell by 2.7%.
Top Headline
Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) reported better-than-expected earnings for its fourth quarter.
The company posted a fourth-quarter net sales and revenue decline of 28% year-over-year to $11.143 billion, beating the consensus of $9.335 billion. Deere clocked an EPS of $4.55, down from $8.26 YoY, beating the consensus of $3.90
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) shares shot up 29% to $4.75. Quantum Computing announced it received another purchase order for its photonic chip foundry.</li>
<li>Shares of Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) got a boost, surging 32% to $169.90 after the company reported stronger-than-expected results for its third quarter. Snowflake expects fourth-quarter product revenue in the range of $906 million to $911 million, up approximately 23% year-over-year. The company also raised its full-year product revenue guidance from $3.356 billion to $3.43 billion, representing 29% year-over-year growth.</li>
<li>Universal Technical Institute, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTI#NYSE">UTI</a>) shares were also up, gaining 19% to $23.60 after the company posted upbeat quarterly earnings.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Cool Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLCO#NYSE">CLCO</a>) shares dropped 16% to $8.91 following third-quarter results.</li>
<li>Shares of Pyxis Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYXS#NASDAQ">PYXS</a>) were down 46% to $2.0650 after the company announced PYX-201 clinical Phase 1 part 1 data.</li>
<li>Kura Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KURA#NASDAQ">KURA</a>) was down, falling 38% to $9.87. Kura Oncology and Kyowa Kirin disclosed a global strategic collaboration to develop and commercialize Ziftomenib in Acute Leukemias.</li>
</ul>
Commodities In commodity news, oil traded up 1.1% to $69.61 while gold traded up 0.7% at $2,670.90.
Silver traded down 0.3% to $30.910 on Thursday, while copper fell 0.5% to $4.1340.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.15%, Germany's DAX gained 0.46% and France's CAC 40 rose 0.05%. Spain's IBEX 35 Index rose 0.02%, while London's FTSE 100 gained 0.57%.
Consumer confidence in the Eurozone fell by 1.2 points to a reading of -13.7 in November.
Asia Pacific Markets
Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 falling 0.85%, Hong Kong's Hang Seng Index falling 0.53%, China's Shanghai Composite Index gaining 0.07% and India's BSE Sensex falling 0.54%.
Economics
<ul>
<li>U.S. existing home sales gained by 3.5% from the previous month to an annualized rate of 3.96 million in October.</li>
<li>The Philadelphia Fed Manufacturing Index fell to -5.5 in November from 10.3 in the previous month, and compared to market estimates of 8.</li>
<li>U.S. initial jobless claims declined by 6,000 from the previous week to 213,000 in the week ending Nov. 16.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/24/11/42112636/top-3-tech-stocks-which-could-rescue-your-portfolio-in-q4">Top 3 Tech Stocks Which Could Rescue Your Portfolio In Q4</a></li>
</ul>

Earnings

Equities

Eurozone

Commodities

Intraday Update

CLCO

KURA

PYXS

QUBT

Crude Oil Gains 1%; Deere Posts Better-Than-Expected Earnings

Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) will release earnings results for its third quarter, after the <a href="https://www.benzinga.com/quote/ROST/earnings">closing bell on Thursday, Nov. 21.</a>
Analysts expect the Dublin, California-based bank to report quarterly earnings at $1.4 per share, up from $1.33 per share in the year-ago period. Ross Stores projects to report revenue of $5.15 billion for the recent quarter, compared to $4.92 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Oct. 28, Ross Stores named James Conroy, a seasoned retail CEO, as Chief Executive Officer, succeeding Barbara Rentler effective Feb. 2, 2025.
Ross Stores shares rose 0.1% to close at $139.32 on Wednesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TCOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5846f34dee7bf6000154d138/john-kernan">TD Cowen analyst John Kernan</a> maintained a Buy rating and cut the price target from $185 to $177 on Nov. 19. This analyst has an accuracy rate of 71%.</li>
<li>Wells Fargo analyst Ike Boruchow maintained an Overweight rating and slashed the price target from $175 to $165 on Nov. 14. This analyst has an accuracy rate of 71%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58b6cbc2b85e9300014425bc/paul-lejuez">Citigroup analyst Paul Lejuez</a> downgraded the stock from Buy to Neutral and cut the price target from $179 to $152 on Nov. 12. This analyst has an accuracy rate of 62%.</li>
<li>Morgan Stanley analyst Alex Straton maintained an Overweight rating and increased the price target from $163 to $178 on Aug. 23. This analyst has an accuracy rate of 64%.</li>
<li>UBS analyst Jay Sole maintained a Neutral rating and boosted the price target from $147 to $167 on Aug. 23. This analyst has an accuracy rate of 73%.</li>
</ul>
Considering buying ROST stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image is-resized"><img decoding="async" src="blob:https://editorial.benzinga.com/2f2567f9-7483-4558-97d9-844354a79b27" alt="" style="width:664px;height:auto" /></figure>
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ROST

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

The Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Thursday.</a>
The U.S. Department of the Treasury&#8217;s Bureau of the Fiscal Service has appointed BNY Mellon as the financial agent for the<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42116834/bny-to-manage-u-s-department-of-the-treasurys-largest-prepaid-debit-card-program-for-federal-benef" rel="noreferrer noopener"> Direct Express prepaid debit card program.</a>
This five-year agreement, which begins on January 3, will provide secure and easy access to federal benefit payments for approximately 3.4 million Americans.
BNY Mellon was selected after a comprehensive evaluation of proposals from multiple financial institutions.
The Treasury chose BNY Mellon for its wide range of customer service options that cater specifically to the unique needs of the Direct Express cardholders. These services include online and digital funds access, bill payment, cardless ATM access, omni-channel customer service through chat and text, and in-person authentication options.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/market-summary/24/11/42117093/european-stability-may-improve-with-trumps-peace-through-strength-policy" rel="noreferrer noopener">European Stability May Improve With Trump&#8217;s &#8216;Peace Through Strength&#8217; Policy</a>
Additionally, the program will benefit from features such as contactless payment capabilities and emergency fund access.
Jennifer Barker, Global Head of Treasury Services at BNY Mellon, said, &#8220;We&#8217;re honored to be appointed as the financial agent for the Direct Express program, a decision which speaks to BNY&#8217;s legacy serving clients and communities throughout the financial ecosystem.&#8221;
Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) will continue its role as the program&#8217;s payment network, a position it has held since Direct Express was launched in 2008.
Other providers involved in the program include Galileo Financial Technologies, MoCaFi, Senture, Sunrise Banks, and Ubiquity Global Services.
The expanded services and customer-focused enhancements will help elevate the experience for Direct Express cardholders, ensuring they have easy access to their federal benefits.
Price Action: BK shares are trading higher by 0.73% to $78.44 at last check Thursday.
Image: Shutterstock/ Geobor
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</ul>

Contracts

BNY Mellon Chosen To Oversee US Treasury's Direct Express Program - What's On the Cards?

B. Riley Securities analyst Naved Khan maintains Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Buy and raises the price target from $190 to $220.

B. Riley Securities Maintains Buy on Wix.com, Raises Price Target to $220

NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) analysts highlight the company's strong beat in the third quarter and guidance in the fourth quarter that may leave investors less confident in <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">the short term.</a>
The NVDA Analysts: Cantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating on Nvidia with a $175 price target.
JPMorgan analyst Harlan Sur reiterated an Overweight rating and raised the price target from $155 to $170.
Oppenheimer analyst Rick Schafer reiterated an Outperform rating with a $175 price target.
Goldman Sachs analyst Toshiya Hari reiterated a Buy rating and raised the price target from $150 to $165.
Piper Sandler analyst Harsh Kumar reiterated an Overweight rating with a $175 price target.
Needham analyst Quinn Bolton reiterated a Buy rating and raised the price target from $145 to $160.
Benchmark analyst Cody Acree reiterated a Buy rating and raised the price target from $170 to $190.
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Cantor on NVDA: Fourth-quarter guidance coming in lower than estimates and gross margin guidance spooked investors in after-hours trading Muse said in a new investor note.
Muse said there was good and great news from Nvidia in the earnings report and conference call.
"The Blackwell cycle is tracking better than the original ~$3B guide for the January Q and is expected to accelerate much more meaningfully throughout CY25 and beyond with shortages anticipated over the next several Q's amidst ‘staggering demand,'" Muse said.
The analyst said they expect first-quarter revenues to "accelerate more meaningfully," which supports the bull case for $5.50 in earnings per share in calendar year 2025 and the potential for $6 per share.
Nvidia's update at CES, February's expected guidance and the March GTC conference are items the analyst is watching going forward. Nvidia is called a top pick by the analyst.
JPM on NVDA: Third-quarter results were solid and the company's guidance shows strong AI demand, Sur said in a new investor note.
"Blackwell production ramp progressing well and demand outstripping supply through majority of CY25," Sur said.
The analyst said demand for Blackwell is "very strong" and highlighted management's commentary on expectations for Hopper shipments to remain strong into 2025 as well.
"Bottom line, the team continues to maintain a 1-2 step lead ahead of competitors with its silicon/hardware/software platforms, and a strong ecosystem and the team is further distancing itself."
Oppenheimer on NVDA: Third-quarter financial results and guidance were roughly inline with buyside expectations, led by Data Center strength, Schafer said in a new investor note.
"NVDA remains best positioned in AI, benefitting from full-stack AI hardware/software," Schafer said.
The analyst said Nvidia is "the purest scale play" for "AI proliferation." &nbsp;
"We see several structural tailwinds driving sustained outsized top-line growth in high-performance gaming, datacenter/AI and autonomous driving vehicles."
Goldman Sachs on NVDA: The ramp in Blackwell and yield improvements are likely to drive earnings per share growth, Hari said in a new investor note.
The analyst said Nvidia's guidance "only met Street expectations" and comments on gross margin headwinds, but the outlook remains strong for the stock.
"We expect growing demand for AI infrastructure across all customer groups," Hari said.
The analyst also expects improving supply and gross margin normalization to help drive earnings per share growth.
Piper Sandler on NVDA: Nvidia beating third-quarter analyst estimates kept up with recent trends, Kumar said in a new investor note.
The analyst said Nvidia is setting up for strong growth starting in April.
"The key here is that NVDA is going through a product transition with Blackwell ramping and H200 remaining strong," Kumar said.
Nvidia's guidance beats could be higher starting in April, Kumar added.
"All systems go for Blackwell ramp."
Needham on NVDA: The Blackwell ramp is ahead of previous estimates, Bolton said in a new investor note.
The analyst said guidance was below some of the loftier estimates from analysts with third-quarter results well ahead of Needham estimates.
"Management not only silenced the Blackwell overheating rumors, but raised its F4Q Blackwell revenue guide," Bolton said.
The analyst highlighted Nvidia mentioning Blackwell production was full steam ahead while naming customers such as Dell, Oracle, Microsoft, Alphabet and CoreWeave.
"Demand is ‘greatly exceeding supply,' and Blackwell sales for the January quarter are currently on track to exceed previous guidance of several billions of dollars."
Benchmark on NVDA: Third-quarter results had plenty of strength, but the lack of a huge guidance raise left shareholders wanting more and taking profits, Acree said.
"Nothing except the most aggressive beat and raise was likely to keep the market from fairly aggressive profit-taking, which is exactly what happened," Acree said.
The analyst said investors may be getting wary about the longevity of "the AI trade" with Nvidia shares up over 200% year-to-date ahead of earnings.
"The company's performance and outlook appear to be suffering from a "law of large numbers."
Despite Nvidia shares being up over 700% since early 2023 compared to the S&amp;P 500 up 57% over the same time period, the analyst sees long-term value.
"NVDA's shares still represent a compelling value for thoughtful investors willing to look past the near-term noise."
NVDA Price Action: Nvidia stock is down 1.46% to $143.76 on Thursday versus a 52-week trading range of $45.01 to $152.89. Nvidia stock is up 200% year-to-date in 2024.
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Photo: Shutterstock

Analyst Color

Reiteration

Tech

Nvidia Analysts See Stock 'Best Positioned In AI,' Not Worried About Guidance: 'All Systems Go For Blackwell Ramp'

WIIM

ADBE

ASAN

BILL

CHKP

DOCN

ESTC

GTLB

HUBS

INTU

OKTA

ORCL

RGTI

TEAM

TWLO

WDAY

Shares of software, cybersecurity, and cloud companies are trading higher in possible sympathy with Snowflake, which saw gains after the company reported better-than-expected Q3 financial results and raised its FY25 product revenue guidance.

B. Riley Securities analyst Steve Moss maintains Atlanticus Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATLC#NASDAQ">ATLC</a>) with a Buy and raises the price target from $50 to $70.

ATLC

B. Riley Securities Maintains Buy on Atlanticus Holdings, Raises Price Target to $70

Capital One Finl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) short percent of float has risen 8.82% since its last report. The company recently reported that it has 11.17 million shares sold short, which is 2.96% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.62 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>Capital One Finl Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732210224_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Capital One Finl 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 Capital One Finl'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>, Capital One Finl's peer group average for short interest as a percentage of float is 7.47%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

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Baron Emerging Markets Fund Q4 2023 Shareholder Letter

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Budweiser Brewing: A Hold Considering Mixed Outlook And Peer Valuations

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Budweiser Brewing Co APAC

<h4>Key Takeaways:</h4>

<ul>
	<li>Budweiser APAC&rsquo;s profit fell 15% in the first nine months of the year as its revenue in China fell 16.1% in the third quarter</li>
	<li>The mainstream beer maker&rsquo;s efforts to develop higher-end products may be meeting with headwinds from increasingly cautious Chinese consumer</li>
</ul>

By Lau Chi Hang

If 2023 was a year to celebrate with the end of the pandemic, then this year is looking far more sober for&nbsp;Budweiser Brewing Co. APAC Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/bdwbf#OTC">BDWBF</a>), the Asia arm of one of the world&rsquo;s top beer makers. After booming last year, the company&rsquo;s business has gone into reverse in 2024, dragged down by weakness in China, its largest market.

Budweiser APAC said it sold 7.12 billion liters of beer in the first nine months of this year, down 8.1% year-on-year, according to a third-quarter&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1031/2024103100321.pdf">business review</a>&nbsp;issued at the end of last month. Its revenue slipped by a slightly smaller 6.1% to $5.1 billion, while its profit fell by 15% to $780 million. The company said China&rsquo;s economic slowdown was the biggest drag on its overall sales, partly offset by a strong performance in South Korea.

Budweiser APAC operates across East and South Asia, with markets including South Korea, Japan, China, India and Southeast Asia, as well as New Zealand. The company didn&rsquo;t break down revenue for China specifically in the nine-month figures. But the market dominates the company&rsquo;s West APAC region, which accounts for nearly 90% of its overall sales.

<h3>Sliding China Business</h3>

Budweiser APAC&rsquo;s China business has been declining since the end of 2023, starting with a 3.1% drop in its sales volume during last year&rsquo;s fourth quarter. The rate of decline accelerated to 6.2% in the first quarter of 2024, with revenue also down 2.7% for the period. The situation further deteriorated in the second quarter, with sales volume down 10.3% year-on-year and revenue plummeting 15.2%.

Things didn&rsquo;t get any better from there, as the company&rsquo;s China sales volume plunged 14.2% in the third quarter and revenue tumbled by an even larger 16.1% year-on-year, according to the latest report. Weak consumer sentiment, driven largely by people eating and drinking out less, were mainly to blame for the drastic business drop, the company said.

The declines mark the latest twist in a Chinese beer market that has been evolving nearly nonstop since Western brands first entered the market back in the 1980s and 1990s. Sales rocketed during that early period as China&rsquo;s economy started to take off in its Reform Era dating back to 1978. An emerging middle class more willing to spend bigger sums on beer drove the boom, helping China to pass the U.S. to become the world&rsquo;s largest beer market.

<h4>Turning point</h4>

But the market eventually became saturated as companies built more breweries and consumers with discretionary income diversified into other beverage types. Demographics also played a role, especially among the 26- to 35-year-olds that are the main drinkers of beer in China, accounting for 40% of total consumption. The number of people in that age bracket is declining as the population ages and replacement birth rates fall, taking a direct toll on beer sales.

Demographic changes aside, changing lifestyles and improving living standards are also taking a swig out of beer sales. That&rsquo;s showing up most notably as people turn their attention to healthier diets and avoid less healthy foods and beverages like beer. Adding to beer&rsquo;s woes are growing alternatives bubbling up, including other alcoholic drinks with different ingredients and flavors.

A confluence of those factors led to a turning point for China&rsquo;s beer production in 2013. Before that year, production had been on a steady rise, hitting 50 million kiloliters in 2013. But the volumes have been falling since then.

<h3>High-end Strategy Clipped By Consumption Downgrade</h3>

Leading beer makers in China haven&rsquo;t simply sat idle as their market changes, and going upscale is one common tactic many have tried to keep consumers coming back. Lee Chee Kong, president of&nbsp;Carlsberg&nbsp;China, previously pointed out that such up-market movements have become a broader industry trend in China, similar to the Western embrace of pricier micro-brewery beers over the last three decades. Such movement in China entails not only the rollout of new products, but also improvements to existing ones. Companies are also placing a greater emphasis on packaging to give consumers a sense of luxury when they drink.

While such talk sounds good in theory, it may be easier said than done. That&rsquo;s especially true in the current market, where a sluggish Chinese economy is leading consumers to rein in their spending on the finer things in life, especially for non-essentials like beer.

After a period of major consolidation in the 1990s and early 2000s, China&rsquo;s beer market is currently dominated by five major companies:&nbsp;China Resources Beer&nbsp;(0291.HK),&nbsp;Tsingtao Brewery&nbsp;(168.HK), Budweiser,&nbsp;Yanjing&nbsp;and Carlsberg. That group alone accounts for 92% of the market, with Budweiser ranking third at about 20%.

The weak environment has left Budweiser and its peers with few options other than trying to seize share from each other in the dwindling market. Despite its stumbling business, the company still leads most of its publicly traded peers with a trailing price-to-earnings (P/E) ratio of nearly 19 times, ahead of the 17 for China Resources Beer and just 14 for Tsingtao Brewery.

Investment banks also have their reservations about Budweiser APAC. Morgan Stanley pointed out the company&rsquo;s China sales were weaker than expected and lowered its full-year sales forecast by 2% after the latest update. Goldman Sachs also lowered its sales forecast for the company from 2024 to 2026 by between 1% and 3%. It maintained its &ldquo;buy&rdquo; rating but lowered its target price by 8.2% to HK$10.10. UBS also maintained its &ldquo;buy&rdquo; rating, but, like Goldman Sachs, lowered its target price from HK$13.78 to HK$11.72.

This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Budweiser's China Glass Drains As Consumers Have Less To Toast

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