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Queen's Road Capital Investment Ltd is a resource-focused investment company. It invests in privately held and publicly traded resource companies and has one operating segment, being the selection, acquisition, and management of investments. The company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in development or production located in safe jurisdictions.

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Investors are eagerly awaiting this Thursday&#8217;s release of advance estimates for the second quarter&#8217;s gross domestic product (GDP) by the Bureau of Economic Analysis at 8:30 a.m. ET.
In the first quarter of 2024, the U.S. economy grew at an annualized rate of 1.4%, a significant slowdown compared to the 3.4% growth in the fourth quarter of 2023. This deceleration was accompanied by a temporary spike in inflation, with the GDP price index jumping to 3.1% in the first quarter, <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38405106/us-economy-expected-to-grow-2-5-in-q1-not-a-hard-landing-and-hardly-a-soft-one">raising fears of stagflation.</a>
Besides the second quarter GDP data, investors will closely monitor the weekly jobless claims, expected to ease from 243,000 to 238,000, and June&#8217;s durable goods orders, projected to rise by 0.2% month-over-month.
Investors currently assign 100% odds to a Federal Reserve interest rate cut in September, according to CME Group&#8217;s FedWatch tool.
<h1 class="wp-block-heading">Economist Forecasts for Q2 2024 GDP</h1>
<ul>
<li>Q2 GDP growth: The U.S. economy is expected to grow by 2% quarter-over-quarter annualized in the second quarter, up from 1.4% in the first quarter.</li>
<li>GDP price index: Forecasted to decrease from 3.1% in the first quarter to 2.6% in the second quarter, reflecting a cooling of inflationary pressures.</li>
<li>Core GDP price index: Expected to drop from 3.7% in the first quarter to 2.7% in the second quarter, excluding volatile energy and food prices.</li>
</ul>
<h1 class="wp-block-heading">Atlanta Fed GDPNow Tracker Points To 2.7% Growth</h1>
The Atlanta Fed&#8217;s GDPNow model has raised its second-quarter real GDP growth forecast to 2.7%, according to its latest update, continuing an upward trend from a low of 1.55% on July 3.
Consumer spending is expected to add 1.5 percentage points (pp) to GDP growth in the second quarter, up from 1.0pp in the first quarter.
Non-residential fixed investments are forecasted to contribute 0.75pp. Private inventories are projected to add 0.95pp, while government spending adds 0.42pp.
<h1 class="wp-block-heading">5 ETFs To Monitor Thursday</h1>
The advance estimates on the first-quarter GDP, released on April 25, 2024, impacted growth-sensitive stocks and safe-haven assets. Key movements included:
<ul>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.9%.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) dropped 0.6%.</li>
<li>The Financials SPDR Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) decreased 0.6%.</li>
<li>The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.5%.</li>
<li>The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) increased 0.7%. </li>
</ul>
Based on previous market reactions, a lower-than-expected GDP reading could lead to a weakening in growth-linked stocks and sectors, with investors gravitating towards safer assets like Treasuries and gold. 
Conversely, stronger-than-expected GDP figures might boost the U.S. dollar, especially if also the price index surpasses expectations.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39934981/us-services-activity-hits-28-month-peak-price-pressures-continue-to-ease-economist-">US Services Activity Hits 28-Month Peak, Price Pressures Continue To Ease: Economist Calls It &#8216;A Goldilocks Scenario&#8217;</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Broad U.S. Equity ETFs

Econ #s

Economics

Federal Reserve

Tech

ETFs

SPDR Dow Jones Industrial Average ETF Trust

iShares Trust Barclays 20+ Year Treasury Bond Fund

GDP Q2 Preview: 5 ETFs To Monitor Thursday As Economic Data Unfolds

Whales with a lot of money to spend have taken a noticeably bearish stance on Reddit.
Looking at options history for Reddit (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $935,241 and 7, calls, for a total amount of $257,618.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $77.5 for Reddit over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Reddit's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Reddit's whale activity within a strike price range from $40.0 to $77.5 in the last 30 days. 
<h3>Reddit Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721842269_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>RDDT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/09/24</td>
<td>$5.35</td>
<td>$5.1</td>
<td>$5.35</td>
<td>$62.00</td>
<td>$240.7K</td>
<td>2.0K</td>
<td>1.4K</td>
</tr>
<tr>
<td>RDDT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/09/24</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.15</td>
<td>$62.00</td>
<td>$159.1K</td>
<td>2.0K</td>
<td>991</td>
</tr>
<tr>
<td>RDDT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/09/24</td>
<td>$5.6</td>
<td>$5.4</td>
<td>$5.55</td>
<td>$62.00</td>
<td>$158.7K</td>
<td>2.0K</td>
<td>1.4K</td>
</tr>
<tr>
<td>RDDT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/09/24</td>
<td>$4.95</td>
<td>$4.55</td>
<td>$4.9</td>
<td>$62.00</td>
<td>$130.8K</td>
<td>2.0K</td>
<td>286</td>
</tr>
<tr>
<td>RDDT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/09/24</td>
<td>$6.05</td>
<td>$5.75</td>
<td>$6.05</td>
<td>$62.00</td>
<td>$93.1K</td>
<td>2.0K</td>
<td>1.8K</td>
</tr>
</tbody>
</table>

<h3>About Reddit</h3>
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
Having examined the options trading patterns of Reddit, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Reddit</h3>
<ul>
<li>With a volume of 1,718,318, the price of RDDT is down -7.19% at $62.96. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 13 days.</li>
</ul>
<h3>What The Experts Say On Reddit</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $70.8.
<ul>
<li>An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Reddit, which currently sits at a price target of $70. </li>
<li>An analyst from Loop Capital persists with their Buy rating on Reddit, maintaining a target price of $75. </li>
<li>Maintaining their stance, an analyst from Bernstein continues to hold a Underperform rating for Reddit, targeting a price of $50. </li>
<li>An analyst from JMP Securities persists with their Market Outperform rating on Reddit, maintaining a target price of $84. </li>
<li>Reflecting concerns, an analyst from Loop Capital lowers its rating to Hold with a new price target of $75.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Reddit with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

RDDT

Spotlight on Reddit: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bullish move on B. Riley Financial. Our analysis of options history for B. Riley Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) revealed 11 unusual trades.
Delving into the details, we found 63% of traders were bullish, while 27% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $443,010, and 4 were calls, valued at $148,681.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $7.5 and $22.5 for B. Riley Financial, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for B. Riley Financial's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of B. Riley Financial's whale trades within a strike price range from $7.5 to $22.5 in the last 30 days. 
<h3>B. Riley Financial 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721842264_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>RILY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.2</td>
<td>$1.15</td>
<td>$1.95</td>
<td>$7.50</td>
<td>$195.0K</td>
<td>1.4K</td>
<td>1.0K</td>
</tr>
<tr>
<td>RILY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>07/26/24</td>
<td>$6.0</td>
<td>$5.8</td>
<td>$5.91</td>
<td>$10.00</td>
<td>$59.1K</td>
<td>0</td>
<td>200</td>
</tr>
<tr>
<td>RILY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.8</td>
<td>$3.7</td>
<td>$3.7</td>
<td>$12.50</td>
<td>$55.5K</td>
<td>3.6K</td>
<td>309</td>
</tr>
<tr>
<td>RILY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.2</td>
<td>$4.1</td>
<td>$4.1</td>
<td>$12.50</td>
<td>$45.5K</td>
<td>3.6K</td>
<td>428</td>
</tr>
<tr>
<td>RILY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.2</td>
<td>$4.1</td>
<td>$4.1</td>
<td>$12.50</td>
<td>$40.9K</td>
<td>3.6K</td>
<td>528</td>
</tr>
</tbody>
</table>

<h3>About B. Riley Financial</h3>
B. Riley Financial Inc is a diversified financial services company. The company through its subsidiaries offers investment banking and financial services to corporate, institutional, and high-net-worth clients and also asset disposition, valuation and appraisal, and capital advisory services to retail, wholesale, institutional, lenders, capital providers, private equity investors, and professional services firms in United States, Canada, and Europe. It also provides internet access and subscription services. The reportable operating segments of the company include Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications segment, and Consumer products segment.
Following our analysis of the options activities associated with B. Riley Financial, we pivot to a closer look at the company's own performance.
<h3>B. Riley Financial's Current Market Status</h3>
<ul>
<li>With a volume of 793,059, the price of RILY is down -9.23% at $15.93. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 14 days.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest B. Riley Financial options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

RILY

B. Riley Financial's Options Frenzy: What You Need to Know

RBC Capital analyst Arun Viswanathan maintains Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) with a Outperform and raises the price target from $370 to $418.

Price Target

Analyst Ratings

RBC Capital Maintains Outperform on Sherwin-Williams, Raises Price Target to $418

WIIM

Thermo Fisher Scientific shares are trading higher after the company raised FY24 guidance.

Deep-pocketed investors have adopted a bearish approach towards Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NCLH usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Norwegian Cruise Line. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 27% leaning bullish and 72% bearish. Among these notable options, 5 are puts, totaling $287,410, and 6 are calls, amounting to $447,379.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $22.0 for Norwegian Cruise Line, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Norwegian Cruise Line's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Norwegian Cruise Line's whale trades within a strike price range from $10.0 to $22.0 in the last 30 days. 
<h3>Norwegian Cruise Line Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721842259_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NCLH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.17</td>
<td>$17.50</td>
<td>$125.1K</td>
<td>4.8K</td>
<td style="text-align: right;">301</td>
</tr>
<tr>
<td>NCLH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.15</td>
<td>$17.50</td>
<td>$124.5K</td>
<td>4.8K</td>
<td style="text-align: right;">601</td>
</tr>
<tr>
<td>NCLH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$0.33</td>
<td>$0.28</td>
<td>$0.32</td>
<td>$20.00</td>
<td>$113.4K</td>
<td>575</td>
<td style="text-align: right;">487</td>
</tr>
<tr>
<td>NCLH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$1.82</td>
<td>$1.59</td>
<td>$1.8</td>
<td>$19.00</td>
<td>$82.9K</td>
<td>1.5K</td>
<td style="text-align: right;">472</td>
</tr>
<tr>
<td>NCLH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.27</td>
<td>$1.24</td>
<td>$1.24</td>
<td>$17.50</td>
<td>$62.0K</td>
<td>6.6K</td>
<td style="text-align: right;">500</td>
</tr>
</tbody>
</table>

<h3>About Norwegian Cruise Line</h3>
Norwegian Cruise Line is the world's third-largest cruise company by berths (around 66,500). It operates 32 ships across three brands—Norwegian, Oceania, and Regent Seven Seas—offering both freestyle and luxury cruising. The company redeployed its entire fleet as of May 2022. With 13 passenger vessels on order among its brands through 2036, representing 41,000 incremental berths, Norwegian is increasing capacity faster than its peers, expanding its brand globally. Norwegian sails to around 700 global destinations.
<h3>Present Market Standing of Norwegian Cruise Line</h3>
<ul>
<li>With a volume of 5,277,125, the price of NCLH is down -3.05% at $19.7. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 7 days.</li>
</ul>
<h3>What The Experts Say On Norwegian Cruise Line</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $22.5.
<ul>
<li>Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Norwegian Cruise Line with a target price of $22. </li>
<li>Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for Norwegian Cruise Line, targeting a price of $23. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Norwegian Cruise Line options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

NCLH

Norwegian Cruise Line's Options Frenzy: What You Need to Know

S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) has outperformed the market over the past 10 years by 8.91% on an annualized basis producing an average annual return of 19.62%. Currently, S&amp;P Global has a market capitalization of $155.07 billion. 
Buying $100 In SPGI: If an investor had bought $100 of SPGI stock 10 years ago, it would be worth $592.32 today based on a price of $495.60 for SPGI at the time of writing.
<h3>S&amp;P Global's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721842234_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SPGI

$100 Invested In S&P Global 10 Years Ago Would Be Worth This Much Today

Moderna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) has outperformed the market over the past 5 years by 42.19% on an annualized basis producing an average annual return of 54.8%. Currently, Moderna has a market capitalization of $45.66 billion. 
Buying $1000 In MRNA: If an investor had bought $1000 of MRNA stock 5 years ago, it would be worth $8,701.97 today based on a price of $119.13 for MRNA at the time of writing.
<h3>Moderna's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721842229_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

MRNA

Here's How Much You Would Have Made Owning Moderna Stock In The Last 5 Years

Lockheed Martin shares are trading higher after multiple analysts raised their price targets on the stock. The company on Tuesday reported better-than-expected Q2 financial results.

New Street Research analyst Pierre Ferragu downgrades Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) from Buy to Neutral and announces $225 price target.

Downgrades

TSLA

New Street Research Downgrades Tesla to Neutral, Announces $225 Price Target

President Joe Biden is set to address the nation on Wednesday night to discuss his decision <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39912859/as-election-buzz-swirls-around-biden-and-harris-dea-comment-period-ends-whats-next-">to leave the presidential race</a>.
He is scheduled to give his remarks at 8 p.m. EST, during which he is expected to discuss in detail what his priorities are for his remaining months in office, the Washington Post <a href="https://www.washingtonpost.com/elections/2024/07/24/biden-speech-2024-election-campaign-updates/">reported</a>.
Biden will <a href="https://www.yahoo.com/news/5-things-watch-biden-address-142505064.html?fr=yhssrp_catchall">likely</a> devote much of his speech to outlining his goals for his final six months in office.
Biden is also expected to discuss securing a hostage deal in the Middle East to release those being held by Hamas following the <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">Oct. 7 attacks in Israel</a>. The president is scheduled to meet on Thursday with Israeli Prime Minister Benjamin Netanyahu at the White House.
Also Read: <a href="https://www.benzinga.com/government/24/07/39918749/kamala-harris-vs-trump-views-on-nearly-every-industry-evs-oil-gas-health-care-are-worlds-apart">Kamala Harris Vs. Trump: Views On Nearly Every Industry — EVs, Oil &amp; Gas, Health Care — Are Worlds Apart</a>
"I'm still going to be fully, fully engaged. I've got six months left in my presidency," he said over the phone on Monday to campaign headquarters. "I'm determined to get as much done as I possibly can, both foreign policy and domestic policy — keep lowering costs for families, continue to speak out on guns, to child care, elder care, prescription drugs and climate."
Biden <a href="https://x.com/JoeBiden/status/1815080881981190320?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1815080881981190320%7Ctwgr%5E2a87663aac24ff47ddd52bd1f0cfe859d1937f02%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fiframe.nbcnews.com%2FVRuGWbb%3F_showcaption%3Dtrueapp%3D1">announced</a> Sunday his intention not to pursue a second term. He then endorsed Vice President Kamala Harris for the 2024 presidential election.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/RMIRvlSOYw">pic.twitter.com/RMIRvlSOYw</a>
&mdash; Joe Biden (@JoeBiden) <a href="https://twitter.com/JoeBiden/status/1815080881981190320?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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&#8220;It has been the greatest honor of my life to serve as your President,&#8221; Biden wrote in the letter, which was distributed while he recovered from COVID-19 at his residence in Rehoboth, Delaware.
&#8220;And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term,&#8221; he wrote. &#8220;I will speak to the Nation later this week in more detail about my decision.&#8221;
Harris, the presumptive Democratic presidential nominee, addressed a gathering of the Zeta Phi Beta sorority in Indianapolis. Former President Donald Trump is expected to appears at a rally in Charlotte, North Carolina.
Price Action: Exchange-traded funds that cover defense stocks have the potential to move on Thursday on any comments from Biden on Middle East peace talks. iShares U.S. Aerospace &amp; Defense ETF (ITA) slipped 1.22% by Wednesday&#8217;s mid-day trading, while Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) dropped 1.29% and SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) declined 0.84%.
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RBC Capital analyst Daniel Perlin maintains Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) with a Outperform and lowers the price target from $315 to $311.

RBC Capital Maintains Outperform on Visa, Lowers Price Target to $311

RBC Capital analyst Jon Arfstrom maintains Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) with a Outperform and lowers the price target from $54 to $51.

RBC Capital Maintains Outperform on Webster Finl, Lowers Price Target to $51

Goldman Sachs analyst Brian Lee maintains Pentair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) with a Neutral and raises the price target from $85 to $93.

Goldman Sachs Maintains Neutral on Pentair, Raises Price Target to $93

Shares of General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39934099/general-dynamics-hits-high-revenue-but-faces-earnings-hiccup-in-q2-details">second-quarter EPS results</a>.
Revenue for the quarter increased 18% year-over-year to $11.976 billion, beating the consensus of $11.438 billion. EPS of $3.26 (up 20.7% YoY) missed the consensus of $3.29, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
General Dynamics shares declined 5.2% to $279.26 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>NuZee, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) jumped 192% to $3.01.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) rose 142.4% to $3.0799 after falling over 22% on Tuesday.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) surged 134% to $0.0609.</li>
<li>Bone Biologics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBLG#NASDAQ">BBLG</a>) gained 86% to $2.3300.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) gained 74.5% to $10.82.</li>
<li>Pieris Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIRS#NASDAQ">PIRS</a>) jumped 73.4% to $13.77 after the company announced that the company entered into a definitive merger agreement with Palvella Therapeutics.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) gained 50% to $0.60 after licensing partner Pfizer&#8217;s Phase 3 AFFINE trial evaluating giroctocogene fitelparvovec met its primary endpoint.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) gained 28% to $3.2212.</li>
<li>KORE Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NASDAQ">KORE</a>) gained 21.8% to $2.84.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) rose 20.5% to $6.87 after reporting unaudited 2024 second quarter and first half financial results.</li>
<li>PROG Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) climbed 20.4% to $41.71 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY24 guidance above estimates.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 19.4% to $94.69. The company on Monday announced a private placement financing.</li>
<li>Silynxcom Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NYSE">SYNX</a>) rose 18.4% to $3.71. Silynxcom received $815,000 in orders from Israel Defense Forces since July 2024.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares gained 16.4% to $1.0009 after the company announced steady progress in its due diligence efforts in its proposed reverse merger with COVIRIX Medical and anticipates completion by the end of August 2024.</li>
<li>Flex Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) gained 10.9% to $32.96 after the company reported better-than-expected second-quarter financial results.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) climbed 10.5% to $249.78 after the company reported better-than-expected second-quarter financial results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) gained 9.6% to $333.95 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 9.2% to $113.18 after the company reported second-quarter financial results.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) gained 8.7% to $0.1809. Allarity Therapeutics revealed on Monday it received a "Wells Notice" from the U.S. Securities and Exchange Commission (SEC).</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) gained 7.9% to $18.61 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) shares surged 7.5% to $113.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) gained 7% to $26.69 after the company reported better-than-expected <a>second-quarter </a>financial results.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) gained 6.8% to $148.17 after the company reported better-than-expected second-quarter financial results and the company and raised its FY24 guidance above estimates. Also, the company announced it authorized a $1.5 billion share buyback.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) gained 3.1% to $18.78 following second-quarter earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares dipped 74.4% to $1.27. Azitra announced the pricing of $10.0 million public offering.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) fell 58% to $2.42.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) dipped 43.8% to $4.25.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) fell 37.2% to $2.6199 after the company announced the pricing of a $2 million public offering of 469,340 common shares at $4.24 a share.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) dipped 34.2% to $0.1414.</li>
<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) declined 26.9% to $57.46 after the company reported worse-than-expected quarterly financial results. Also, the company issued its FY25 EPS guidance below estimates.</li>
<li>Conn&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CONN#NASDAQ">CONN</a>) shares fell 26.7% to $0.3717 as the company announced plans to close 71 locations across 13 states.</li>
<li>Vintage Wine Estates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VWE#NASDAQ">VWE</a>) fell 24.5% to $0.0868 after the company announced bankruptcy filing and voluntary delisting and SEC deregistration.</li>
<li>Snow Lake Resources Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITM#NASDAQ">LITM</a>) declined 24.2% to $0.7350 after the company issued an update on Black Lake Uranium Project.</li>
<li>AtlasClear Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NASDAQ">ATCH</a>) shares declined 23.8% to $0.4228 after gaining 11% on Tuesday.</li>
<li>Verastem, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>) shares fell 22.7% to $2.7750 after the company reported pricing of $55.0 million public offering of common stock, warrants and pre-funded warrants.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) dipped 17.8% to $10.75 after the Phase 2 KINETIC 2 study of SAGE-324 did not demonstrate a statistically significant dose-response relationship on the primary endpoint.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) dipped 13% to $11.33.</li>
<li>SFL Corporation Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFL#NYSE">SFL</a>) shares fell 12.3% to $12.23 after the company announced an offering of 8 million common shares.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell 12% to $216.78. Tesla reported weaker-than-expected earnings for its second quarter, while sales topped estimates. The company reported second-quarter deliveries of 443,956 vehicles and production of 410,831 vehicles, down 5% and 14% year-over-year, respectively.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) dipped 11.3% to $31.90 as the company announced the launch of secondary public offering of ordinary shares.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) fell 10.2% to $15.29.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) dipped 9.5% to $14.41.</li>
<li>Chijet Motor Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NASDAQ">CJET</a>) fell 9.3% to $4.61 after jumping 55% on Tuesday.</li>
<li>Allegro MicroSystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>) dipped 9.1% to $25.14 after the company announced a primary offering of 25 million shares.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) shares declined 8.8% to $4.2150 after the company announced the departure of CCO Anil Kapur.</li>
<li>The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) fell 8.4% to $92.45.</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) fell 8.2% to $56.97.</li>
<li>Deutsche Bank Aktiengesellschaft (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) shares fell 8% to $15.69 following second-quarter earnings.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) declined 8% to $14.25.</li>
<li>Weatherford International plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) dipped 7.6% to $123.57 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Roper Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NYSE">ROP</a>) fell 7.4% to $532.08 after the company reported worse-than-expected second-quarter sales results and issued third-quarter adjusted EPS guidance below estimates.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) shares fell 7.1% to $0.5479 after gaining around 23% on Tuesday.</li>
<li>Fortive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) fell 6.9% to $71.36 after the company reported worse-than-expected second-quarter sales results and issued FY24 sales guidance below estimates.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) fell 5.5% to $367.84 after Piper Sandler downgraded the stock from an Overweight to Neutral and lowered its price target from $494 to $404.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares declined 4.1% to $174.29. Alphabet reported upbeat earnings and sales results for its second quarter on Tuesday. The company also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares fell 3.8% to $254.72 following third-quarter results.</li>
</ul>
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Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Goldman Sachs analyst Kate McShane maintains Genuine Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) with a Neutral and lowers the price target from $166 to $162.

Goldman Sachs Maintains Neutral on Genuine Parts, Lowers Price Target to $162

U.S. chip stocks led by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) are trading lower on Wednesday.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Google parent Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) second-quarter earnings on Tuesday failed to impress the Street and are dragging the stocks lower.
Tesla, a key Nvidia customer, reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l" rel="noreferrer noopener">second-quarter revenue</a> growth of 2% year-on-year to $25.5 billion, beating the consensus estimate of $24.7 billion. EPS of $0.52 lagged the consensus estimate of $0.62.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104036/newplot-58.png" alt="" class="wp-image-454436" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104036/newplot-58.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104036/newplot-58-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Tesla&#8217;s second-quarter deliveries declined by 5% to 443,956. The production decreased by 14% to 410,831.
The EV giant expects quarter-on-quarter increases in production in the third quarter. The stock is down 12% Wednesday.
Alphabet, another crucial Nvidia client, reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39917921/alphabet-q2-earnings-revenue-beat-eps-beat-innovation-at-every-layer-of-the-ai-stack-and-more" rel="noreferrer noopener">second-quarter revenue</a> growth of 14% year-on-year to $84.7 billion, beating the analyst consensus of $84.2 billion. EPS of $1.89&nbsp;beat the analyst consensus of $1.85.
Google Search revenue was $48.5 billion (<a target="_blank" href="https://abc.xyz/investor/" rel="noreferrer noopener">up from</a> $42.6 billion) under Google Advertising, which reached $64.6 billion (up from $58.1 billion). Google Cloud revenue was $10.3 billion (up from $8.0 billion). The stock is down 4% Wednesday.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104301/newplot-59.png" alt="" class="wp-image-454445" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104301/newplot-59.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104301/newplot-59-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The growing <a target="_blank" href="https://www.benzinga.com/government/24/07/39857131/ai-chip-stocks-nvidia-amd-taiwan-semi-saw-a-selloff-this-week-whats-going-on" rel="noreferrer noopener">geopolitical tensions between</a> the U.S. and China, triggered by the Western counterpart&#8217;s advanced semiconductor sanctions on the Asian counterpart and Presidential candidate Donald Trump&#8217;s comments, have already taken a toll on the semiconductor sector since last week. <a target="_blank" href="https://www.benzinga.com/government/24/07/39901098/apple-and-micron-leaders-visit-beijing-as-us-intensify-advanced-semiconductor-sanctions-report" rel="noreferrer noopener">Also this week</a>, key U.S. tech giants visited Beijing despite the semiconductor sanctions, highlighting the importance of China as a critical semiconductor market.
The VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), which represent the broader semiconductor industry, are down over 2% on Wednesday.
Photo via Shutterstock

AVGO

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Chip Stocks Nvidia, AMD And Others See More Selloff On Wednesday - What's Going On?

Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) shares are<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> trading higher on Wednesday.</a>
Garmin has announced a <a target="_blank" href="https://www.garmin.com/en-US/newsroom/press-release/automotive/garmin-announces-collaboration-with-arctic-cat-on-snowmobile-display/" rel="noreferrer noopener">partnership</a> with Arctic Cat Inc., a Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) subsidiary renowned in snowmobiles and powersports, to integrate the Arctic Cat G8 display powered by Garmin into select 2025 snowmobile models.
Garmin and Arctic Cat continue their collaboration with the Arctic Cat G8, marking their latest joint effort in display technology for snowmobiles and off-road vehicles, extending their partnership from install kits introduced as early as 2021.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, GRMN stock has gained over 64% in the past year. Investors can gain exposure to the stock via&nbsp;Global X Internet Of Things ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNSR#NASDAQ">SNSR</a>) and&nbsp;Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39928846/us-stocks-could-open-sharply-lower-as-tesla-alphabet-earnings-offer-no-cheer-analyst-says-this-bode" rel="noreferrer noopener">US Stocks Could Open Sharply Lower As Tesla, Alphabet Earnings Offer No Cheer: Analyst Says This Bodes Well For Small-Caps, ‘Only Takes A Small Spark To Ignite A Powerful Move'</a>
The Arctic Cat G8, equipped with Garmin Tread GPS technology, integrates navigation, vehicle performance data, and Group Ride Radio for snowmobilers.
The Arctic Cat G8 introduces various features designed to enhance every snowmobile adventure. The display offers customizable data fields such as coolant temperature, fuel level, speedometer, odometer, RPMs, and more, providing essential information to the driver.
It comes pre-loaded with detailed snowmobile trail maps covering the U.S. and Canada, featuring points of interest like restaurants, shelters, gas stations, campsites, and detailed topography and land designations, including satellite imagery.
Garmin has established strategic partnerships with major automakers supplying a range of hardware and software solutions for their vehicles.
Price Action: GRMN shares are trading higher by 0.91% to $173.67 at last check Wednesday.
Photo via Company
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Garmin Revs Up Winter Fun: Teams Up with Arctic Cat For High-Tech Snowmobile Displays In 2025 Models

Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) analysts remain largely positive on the tech giant despite the stock selling off on second-quarter earnings. Multiple analysts maintained positive ratings following the print, highlighting <a href="https://www.benzinga.com/markets/equities/24/06/39509885/customers-like-googles-ai-overviews-but-still-prefer-chatgpt-at-work-survey">generative AI-related strength in Search</a>.
What Happened: Alphabet reported financial results for the second quarter after the market close on Tuesday. The company delivered revenue of $84.742 billion and earnings of $1.89 per share, beating analyst estimates.
Total revenue was up 14% year-over-year, driven by ongoing strength in Search and momentum in Cloud, which is what analysts are highlighting Wednesday morning.
BMO Capital Markets analyst Brian Pitz reiterated an <a href="https://www.benzinga.com/analyst-stock-ratings">Outperform rating</a> and price target of $222, citing accelerating Search and Cloud revenue on the back of <a href="https://www.benzinga.com/topic/ai">AI</a>-related contributions.
The BMO analyst noted Search revenue accelerated 20 basis points quarter-over-quarter on more difficult comparisons, implying that advertisers see improved AI-related return on ad spend. The analyst further highlighted Alphabet&#8217;s cost to serve AI overviews was flat quarter-over-quarter despite a doubling of model size.
&#8220;The combination of higher query volume and lower incremental costs implies that AI benefits to Search will be a multi-year event,&#8221; Pitz said in a note to clients.
See Also: <a href="https://www.benzinga.com/news/24/07/39872729/nvidias-potential-50-trillion-valuation-tesla-and-xais-ai-expansion-plans-and-microsofts-trillion-do">Nvidia&#8217;s Potential $50 Trillion Valuation, Tesla And xAI&#8217;s AI Expansion Plans, And Microsoft&#8217;s Trillion-Dollar Tech: This Week In Artificial Intelligence</a>
RBC Capital Markets analyst Brad Erickson also highlighted the continued emphasis on expanded volume and higher quality of queries with generative search and suggested there could be further upside from the <a href="https://www.benzinga.com/government/24/07/39916932/google-backtracks-on-third-party-cookie-policy-sparks-gains-in-ad-tech-and-publisher-stocks">rollout of ads</a> above and below the AI overview box.
&#8220;However, we expect investors to take the Q3 margin commentary as slightly worse as AI-related depreciation begins to roll through the model,&#8221; the analyst said. 
RBC Capital &#8220;modestly&#8221; raised its earnings estimates for 2026 and took its 12-month price target up to $204 from $200, while maintaining an Outperform rating. 
&#8220;With Search continuing to outperform, the company is giving more evidence of being an AI winner rather than loser with improving operating leverage, compounding earnings and rising capital return,&#8221; Erickson said.
JMP Securities analyst Andrew Boone also raised estimates &#8220;slightly&#8221; and maintained an <a href="https://www.benzinga.com/analyst-stock-ratings">Outperform rating</a> on Alphabet shares as he sees benefits from AI in the early stages.
Boone believes Search growth is sustainable on the back of AI-related improvements. The analyst expects ongoing cost discipline to drive margin expansion moving forward. 
&#8220;Google noted that over the past quarter it doubled the model size for AI Overviews while improving latency and keeping cost per AI Overview flat as we expect AI compute costs to continue to come down given efficiency optimization, likely unlocking more AI use cases across Google,&#8221; Boone said, echoing commentary from other analysts. 
JMP Securities has a price target of $200 on Alphabet stock based on a 24x multiple on its 2025 earnings expectations. The firm said Alphabet&#8217;s vast total addressable market, scale across search, video, cloud and high profitability justify its price target.
GOOG Price Action: Alphabet shares were down 4.52% at $175.21 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39932009/jim-cramer-slams-tesla-google-parent-alphabet-sellers-says-anyone-who-listened-to-c">Jim Cramer Slams Tesla, Google-Parent Alphabet Sellers, Says Anyone Who Listened To Conference Calls &#8216;Knows These Companies Are Doing Extremely Well&#8217;</a></li>
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Photo: Shutterstock.

Earnings

Google Analysts See Upside For Alphabet Stock Following Q2 Earnings As Generative AI Drives Accelerated Search Growth

Queen's Road Capital Investment Ltd. raises dividend by 11.8% to  CAD 0.019

Queen's Road to invest $50M in a Moxico Resources

Queen's Road to invest $50M in Moxico Resources

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Wednesday, February 19, 2020