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Logitech International S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/logi#NASDAQ">LOGI</a>)&nbsp;started fiscal 2025 on a strong note by reporting better-than-expected results for the first quarter. The computer peripheral and software maker&#39;s key metrics, including revenues and earnings, marked strong improvement on a year-over-year basis as well.
Logitech&#39;s fiscal first-quarter non-GAAP earnings of $1.13 per share beat the Zacks Consensus Estimate of 89 cents and registered a year-over-year increase of 74%. The company&#39;s bottom-line results mainly benefited from increased revenues and lower product costs and promotional costs, leading to gross margin expansion.
Logitech&#39;s first-quarter revenues of $1.1 billion outpaced the consensus mark of $1.03 billion. Moreover, the top line marked a year-over-year increase of 12% on a reported basis and 13% on a constant-currency basis, mainly driven by higher demand across key product categories and efficient inventory management.
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<h3>Logitech International S.A. Price, Consensus and EPS Surprise</h3>
<h3><img alt="Logitech International S.A. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/d0/1721733721.png" style="height:265px; width:576px" title="" /></h3>
Logitech International S.A. price-consensus-eps-surprise-chart | Logitech International S.A. Quote
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<h3>Segment Details</h3>
Logitech registered sales growth across the majority of key product categories year over year. In the first quarter of fiscal 2024, LOGI reclassified its product segments by removing the Audio &amp; Wearable and Mobile Speakers categories and adding Headsets and Other categories.
Revenues from Keyboards &amp; Combos improved 19% year over year to $215.3 million, while Gaming revenues increased 16% year over year to $309.5 million. Our model estimates for Keyboards &amp; Combos and Gaming sales were pegged at $190.7 million and $281.7 million, respectively.
Revenues from the Headsets product category jumped 20% to $44.2 million, Pointing Devices grew 9% to $190 million, Tablet Accessories increased 12% to $78.5 million and Video Collaboration increased 6% to $147 million. Our model estimates for Headsets, Pointing Devices, Tablet Accessories and Video Collaboration were pegged at $37.8 million, $183.3 million, $74.8 million and $145.9 million, respectively.
On the other hand, Webcams declined 3% to $73 million and the Other category&#39;s revenues fell 1% to $30.7 million. Our estimates for Logitech&#39;s Webcams and Other category&#39;s first-quarter revenues were pegged at $77.1 million and $31.8 million, respectively.
<h3>Margins &amp; Operating Metrics</h3>
The non-GAAP gross profit jumped 24.1% to $466.3 million from $375.6 million reported in the year-ago quarter. The non-GAAP gross margin expanded 430 basis points (bps) from the prior-year quarter to 43.3%. The year-over-year increase was driven by lower product costs and reduced promotional activities.
Non-GAAP operating expenses increased 6.6% to $289 million. As a percentage of revenues, non-GAAP operating expenses declined 130 bps to 26.6%.
The non-GAAP operating income surged 67% to $182 million from $109 million reported in the year-ago quarter. The operating margin improved 560 bps to 16.8% from 11.2% in the year-ago quarter. The increase in the operating margin was mainly driven by improved gross margins, strong executions in operations and lowered spendings on promotional activities.
<h3>Liquidity and Shareholder Return</h3>
As of Jun 30, 2024, LOGI&#39;s cash and cash equivalents were $1.53 billion, up from $1.52 billion recorded in the previous quarter. Additionally, the company generated $176 million in cash from operational activities in the first quarter of fiscal 2025.
In the first quarter, the company repurchased shares worth $131 million but did not pay out dividends.
<h3>Raised Fiscal 2025 Guidance</h3>
Buoyed by stronger-than-expected first-quarter performance, Logitech raised its guidance for fiscal 2025. It now expects fiscal 2025 sales in the band of $4.34-$4.43 billion, up from the previous guidance of $4.3-$4.4 billion. The revised top-line projection reflects a year-over-year increase in the band of 1-3%, up from the earlier range of 0-2%. The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $4.35 billion.
Logitech also revised its projections of non-GAAP operating profit to $700-$730 million, up from the previous guidance of $685-$715 million. The updated guidance for operating income projects year-over-year growth of 0-4%, up from the previous guidance between a decline of 2% and an increase of 2%.
<h3>Zacks Rank &amp; Other Stocks to Consider</h3>
Logitech currently carries a Zacks Rank #2 (Buy). Shares of LOGI have lost 3.2% year to date (YTD).
Some other top-ranked stocks in the broader technology sector are NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), Appfolio (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/appf#NASDAQ">APPF</a>) and Twilio (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twlo#NYSE">TWLO</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for NVIDIA&#39;s fiscal 2025 earnings has been revised upward by a penny to $2.69 per share in the past seven days, suggesting year-over-year growth of 107%. The long-term estimated earnings growth rate for the stock is 37.6%. The stock has soared 149.2% YTD.
The Zacks Consensus Estimate for Appfolio&#39;s 2024 earnings has been revised downward by 2 cents to $3.98 per share in the past 60 days, indicating an increase of 132.8% on a year-over-year basis. Shares of APPF have jumped 55.7% YTD.
The consensus mark for Twilio&#39;s 2024 earnings has been revised upward by 2 cents to $3.12 per share over the past 30 days, indicating a 27.4% increase from 2023. It has a long-term earnings growth expectation of 33%. The stock has plunged 23.6% YTD.
<a href="https://www.zacks.com/stock/news/2307114/logitech-logi-q1-earnings-and-revenues-surpass-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2307114">To read this article on Zacks.com click here.</a>

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Logitech Q1 Earnings and Revenues Surpass Estimates

Morgan Stanley analyst Brian Nowak maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Overweight and raises the price target from $195 to $210.

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Morgan Stanley Maintains Overweight on Alphabet, Raises Price Target to $210

Shares of Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) fell sharply during Tuesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39908857/comcasts-q2-earnings-studios-and-theme-parks-pull-revenue-lower-broadband-and-video-subs-fall">second-quarter sales results</a>.
Comcast reported second-quarter revenue decline of 2.7% year-over-year to $29.69 billion, missing the analyst consensus estimate of $30.02 billion.The company reported adjusted EPS of $1.21, beating analyst consensus estimates of $1.12, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Comcast shares declined 6.1% to $37.12 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares jumped 529% to $10.19 after the company announced that the U.S. Patent and Trademark Office granted it U.S. Patent No. 12,036,248 for the treatment of atopic dermatitis.</li>
<li>Adial Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADIL#NASDAQ">ADIL</a>) jumped 148% to $2.6299 after the company announced it advanced into the second cohort and commenced dosing for the Pharmacokinetics Study of AD04 for alcohol use disorder.</li>
<li>Salarius Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) gained 111% to $3.2540.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) shares climbed 67% to $0.2390.</li>
<li>Smart for Life, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMFL#NASDAQ">SMFL</a>) rose 45% to $2.7950.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) gained 43% to $2.41.</li>
<li>Regencell Bioscience Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGC#NASDAQ">RGC</a>) jumped 36.5% to $4.60.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) gained 33.5% to $0.6385 after jumping around 20% on Monday.</li>
<li>Frequency Electronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEIM#NASDAQ">FEIM</a>) shares climbed 30% to $13.11 following fourth-quarter earnings. Also, the company declared a $1.00 special cash dividend.</li>
<li>Mammoth Energy Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TUSK#NASDAQ">TUSK</a>) gained 26% to $4.42 after the company announced its subsidiary, Cobra Acquisitions, entered into a release and settlement agreement with the Puerto Rico Electric Power Authority.</li>
<li>iClick Interactive Asia Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLK#NASDAQ">ICLK</a>) rose 23.5% to $2.05.</li>
<li>1847 Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#NYSE">EFSH</a>) jumped 19.3% to $2.90.</li>
<li>Milestone Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLSS#NYSE">MLSS</a>) gained 17.5% to $1.02 after the company announced the Medicare price assignment for its CompuFlo Epidural System.</li>
<li>Staffing 360 Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAF#NASDAQ">STAF</a>) gained 16% to $2.1493.</li>
<li>Kiniksa Pharmaceuticals International, plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNSA#NASDAQ">KNSA</a>) rose 16% to $24.81 after the company reported better-than-expected second-quarter sales results and raised its FY24 net product revenue guidance.</li>
<li>Aeva Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEVA#NYSE">AEVA</a>) gained 15.1% to $3.6713.</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) jumped 12.7% to $333.02 following second-quarter earnings.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) gained 11.8% to $12.34.</li>
<li>PureCycle Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCT#NASDAQ">PCT</a>) rose 11.8% to $6.90.</li>
<li>MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) gained 11.1% to $561.96 following better-than-expected second-quarter financial results.</li>
<li>Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) rose 8.5% to $84.04 after the company reported better-than-expected second-quarter earnings and raised its FY24 EPS guidance above estimates.</li>
<li>MakeMyTrip Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) gained 8% to $96.75 following better-than-expected quarterly earnings.</li>
<li>Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) gained 8% to $16.51 as the company released preliminary second quarter 2024 financial results and signed a definitive agreement to acquire Rotech Healthcare for $1.36 billion in cash.</li>
<li>Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) shares surged 8% to $8.15. Mesoblast recently started enrollment in Phase 3 trial of Rexlemestrocel-L for chronic low back pain.</li>
<li>Pentair plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) climbed 7.7% to $86.19 after the company reported better-than-expected second quarter financial results and revised its FY24 adjusted EPS guidance above estimates.</li>
<li>Danaher Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) gained 7.4% to $269.35 after the company reported better-than-expected second quarter earnings.</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) gained 6.4% to $173.21 after the company reported better-than-expected second quarter adjusted EPS and raised its FY24 outlook.</li>
<li>SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) rose 6% to $0.2390 after the company reported second-quarter financial results.</li>
<li>Zions Bancorporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) gained 5.4% to $52.12 after posting better-than-expected quarterly results on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Jaguar Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAGX#NASDAQ">JAGX</a>) shares dipped 65% to $1.50 after the company announced its phase 3 OnTarget trial results for Crofelemer did not meet its primary endpoint.</li>
<li>TransCode Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNAZ#NASDAQ">RNAZ</a>) dipped 62.2% to $0.2999 after the company announced a proposed public offering.</li>
<li>Fly-E Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYE#NASDAQ">FLYE</a>) tumbled 59.2% to $2.60.</li>
<li>MIRA Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRA#NASDAQ">MIRA</a>) shares dipped 50.3% to $2.4636. MIRA Pharmaceuticals shares jumped 627% on Monday after the company announced new preclinical study results for its novel oral ketamine analog, Ketamir-2.</li>
<li>CareMax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMAX#NASDAQ">CMAX</a>) shares fell 38.3% to $3.1851 after surging 228% on Monday.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) dipped 32.4% to $0.0250.</li>
<li>PS International Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSIG#NASDAQ">PSIG</a>) fell 32.2% to $1.83.</li>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) fell 31.1% to $0.3440.</li>
<li>Cellectar Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) dipped 26.2% to $2.23. The company announced results from its CLOVER WaM pivotal study evaluating iopofosine I 131.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) fell 23% to $0.77.</li>
<li>Castellum, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTM#NYSE">CTM</a>) fell 20% to $0.1594. Castellum recently announced a new strategic alliance with Krilla Kaleiwahea.</li>
<li>Netcapital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>) fell 17.3% to $0.0926 after gaining around 8% on Monday.</li>
<li>Medpace Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) shares declined 16.6% to $364.00 after the company reported mixed second-quarter financial results and narrowed its FY24 revenue guidance with its midpoint below estimates.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) dipped 15.2% to $16.48.</li>
<li>United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) fell 13.2% to $126.04 after the company reported worse-than-expected quarterly financial results.</li>
<li>Nukkleus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) shares fell 10% to $0.4479 after gaining over 55% on Monday.</li>
<li>NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) shares fell 9.5% to $256.55 following mixed second-quarter earnings.</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) dipped 9.2% to $23.28.</li>
<li>PACCAR Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>) fell 8.4% to $99.92 after the company reported worse-than-expected second-quarter financial results.</li>
<li>A. O. Smith Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOS#NYSE">AOS</a>) declined 8.4% to $81.30. The company reported second-quarter financial results.</li>
<li>WEBTOON Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBTN#NASDAQ">WBTN</a>) dipped 7.7% to $22.00.</li>
<li>Polaris Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) declined 7.2% to $76.23 after the company reported worse-than-expected second-quarter financial results and cut its guidance.</li>
<li>Archrock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AROC#NYSE">AROC</a>) shares declined 6.9% to $21.76. Archrock commenced public offering of 11 million shares of its common stock and announced plans to acquire Total Operations and Production Services for $983 million in cash and stock.</li>
<li>General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) fell 6.1% to $46.52 after the company reported second-quarter financial results. Also, the company announced that it delayed its 2024 Buick EV and pushed its EV pickup plant opening to 2026.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39907957/microsoft-to-rally-around-10-here-are-10-top-analyst-forecasts-for-monday">Microsoft To Rally Around 10%? Here Are 10 Top Analyst Forecasts For Tuesday</a></li>
</ul>

Intraday Update

ADIL

AEVA

AROC

ATPC

AZTR

CGBS

CLRB

CMAX

CMCSA

DRMA

EFSH

FEIM

FLYE

FTEL

ICLK

JAGX

KNSA

MEDP

MESO

MIRA

MLSS

MMYT

MSCI

NCPL

NUKK

NXPI

PCAR

PSIG

RNAZ

SLNA

SLRX

SMFL

SOAR

SPOT

STAF

TUSK

WBTN

XCUR

ZION

Why Comcast Shares Are Trading Lower By 6%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39911348/ethereum-etfs-start-trading-and-price-discovery-is-inevitable-trader-asserts">Nine spot Ethereum ETFs</a> began trading on US exchanges Tuesday, marking another milestone in the mainstream adoption of digital assets.
What Happened: This launch comes just six months after the debut of <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39906763/bitcoin-stuck-below-67k-despite-526m-in-etf-inflows-what-is-going-on">spot Bitcoin ETFs</a> in the United States, which have already accumulated over $54 billion in assets under management.
The new ETH ETFs, offered by major financial players including BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), Fidelity, Grayscale, and others, are now available on the Cboe (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>), NYSE Arca, and Nasdaq exchanges.
Grayscale&#8217;s Ethereum Mini Trust stands out with the lowest fee of 0.15% and is set to start with approximately $1 billion in assets.
In the early hours of trading, the newly launched Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ETFs demonstrated significant market interest.
According to data from Yahoo Finance, <a href="https://www.theblock.co/post/306970/ethereum-etfs-hit-300-million-in-trading-volume-in-first-hour-of-being-live-on-the-market?utm_source=rss&amp;utm_medium=rss">analyzed</a> by The Block Pro Research, these funds collectively amassed $205 million in trading volume within the first 60 minutes.
The momentum continued, with the total volume reaching $300 million approximately 75 minutes after the market opened, at around 10:45 a.m. EST.
To put these figures into perspective, Bloomberg&#8217;s Senior ETF Analyst Eric Balchunas offered his insights on the initial trading performance.
&#8220;Here&#8217;s volume after first 15 minutes of trading. Total of $112m traded for the group (which is A TON vs a normal ETF launch but only about half of what bitcoin ETFs&#8217; volume pace was on DAY ONE, altho 50% would exceed expectations IMO),&#8221; he <a href="https://x.com/EricBalchunas/status/1815767604453138738">said</a>.
<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">Here&#39;s where we at after 90 minutes. $361m total. As a group that number would rank them about 15th overall in ETF volume (about what <a href="https://twitter.com/search?q=%24TLT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TLT</a> and <a href="https://twitter.com/search?q=%24EEM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$EEM</a> trade), which is Top 1%. But again compared to a normal ETF launch, which rarely see more than $1m on Day One, all of them have… <a href="https://t.co/R5UgQFR1L6">pic.twitter.com/R5UgQFR1L6</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1815767604453138738?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He added that the comparison excluded GBTC and if it was included the ETH ETFs do about 20% to 25% of the volume of the BTC ETFs. &#8220;Regardless, very solid showing,&#8221; he said.
Also Read: <a href="EXCLUSIVE: How AI Can Unlock The True Potential Of Web3">EXCLUSIVE: How AI Can Unlock The True Potential Of Web3</a>
What Others Said: Nathan McCauley, CEO of Anchorage Digital, hailed the launch as &#8220;a major step forward in regulatory clarity for the digital asset class.&#8221;
He emphasized that the ETF wrapper will provide a new pathway for safe and compliant exposure to Ethereum, potentially driving billions in inflows from both institutions and consumers.
Konstantin Shulga, CEO and co-founder of Finery Markets, noted the accelerated adoption rate of digital assets and increased institutional involvement. 
He pointed out that Ethereum trading volumes rose by 32% in the first half of 2024 compared to the same period in 2023 in the OTC market. 
However, Shulga cautioned that the full impact of ETF approvals may not be realized for six to nine months, as it takes time for innovative products to be fully integrated into financial players&#8217; portfolios.
Tom Duff Gordon, VP of International Policy at Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), described the approval of spot ETH ETFs as &#8220;a significant milestone in the crypto ecosystem,&#8221; highlighting the ongoing shift towards digital assets in the global financial system. 
Coinbase is serving as the custodian for 8 of the 9 newly approved ETH ETFs.
However, Sergei Gorev, risk manager at YouHodler, offered a more cautious perspective. 
He noted that despite the launch, ETH&#8217;s price dynamics appear weak, suggesting that the market may not fully believe in the great success of Ethereum ETFs. 
Gorev also pointed out the possibility of a &#8220;buy-on-hearsay and sell-on-facts&#8221; scenario, particularly given the timing of the launch during a period when many investors are on vacation.
David Ben Kay, a former advisor and member of the governing board of the Ethereum Foundation, said the launch is a step closer to broader adoption and closer integration into traditional financial markets.
This launch comes at a time of increasing institutional interest in digital assets, as Ethereum continues to solidify its position as a key player in the blockchain and decentralized finance (DeFi) sectors. 
By providing a regulated investment vehicle, investors may have a greater sense of security and compliance. 
However, due to fees and market inefficiencies the ETF price may not always perfectly track Ethereum&#8217;s spot price.
&#8220;Despite risk mitigation, Ethereum remains a volatile asset, and ETF values can fluctuate accordingly. Management fees and expenses associated with ETFs can impact overall returns compared to direct cryptocurrency holdings,&#8221; he said.
&#8220;All in all, the issuance of the spot ETH ETF is definitely a positive move in the journey of broad adoption for cryptocurrencies, but it's likely that initial adoption and market impact may be limited until there is broader acceptance and understanding of crypto ETFs,&#8221; he added.
As the cryptocurrency landscape continues to evolve rapidly with developments like these ETH ETFs, industry professionals and enthusiasts alike are eager to discuss the implications and future trends. 
What&#8217;s Next: The upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19 will provide a timely platform for such discussions.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39905047/michelle-obama-for-democratic-nominee-crypto-bettors-think-her-odds-have-just-tripled">Michelle Obama For Democratic Nominee? Crypto Bettors Think Her Odds Have Just Tripled</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$ETH

CBOE

COIN

Ethereum ETFs Are Live: Here's How Experts Assess Their Launch

Southwest Airlines Faces Multiple Potential Flight-Safety Incidents In Recent Months; Working Closely With FAA On Reviews; FAA Launches Audit After Close Calls

Pharma giant Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) <a href="https://www.investor.jnj.com/news/news-details/2024/Johnson--Johnson-seeks-U.S.-FDA-approval-of-SPRAVATO-esketamine-as-the-first-and-only-monotherapy-for-adults-with-treatment-resistant-depression/default.aspx" target="_blank" rel="noreferrer noopener">announced</a> Monday it had asked the Food and Drug Administration (FDA) to approve its nasal spray as a monotherapy for treatment-resistant depression (TRD) in adults.
The New Jersey-based company's Spravato, contains esketamine as an active ingredient, which is a nasal spray derivative formulation of a dissociative anesthetic, ketamine. While for years, ketamine has been used as an anesthetic in medical settings, recent clinical trials led to its broader application, most commonly for depression treatment.
FDA approved Spravato in 2019 but only in combination with oral antidepressants; it is available through a restricted program requiring monitoring by healthcare professionals. If the FDA approves the new drug application, this will be the first and only monotherapy for adults with treatment-resistant depression, <a href="https://www.greenmarketreport.com/johnson-johnson-requests-fda-nod-for-spravato-as-solo-depression-therapy/" target="_blank" rel="noreferrer noopener">writes</a> Green Market Report's Adam Jackson.
Nearly 30% of the estimated 280 million people worldwide living with major depressive disorder have TRD, which occurs when there is an inadequate response to two or more oral antidepressants during the same depressive episode.
Read Also:<a target="_blank" href="https://www.benzinga.com/general/health-care/24/01/36645584/is-ketamine-efficacious-for-depression-and-other-mental-health-conditions-the-top-10-studies-" rel="noreferrer noopener"> Is Ketamine Efficacious For Depression And Other Mental Health Conditions? The Top 10 Studies Of 2023 Shed Some Light</a>
<h2 class="wp-block-heading">More Than A Decade Of Research</h2>
&#8220;Many patients living with challenging-to-treat depression spend far too long cycling through multiple treatments that don&#8217;t effectively resolve their symptoms, which can cause a significant functional and emotional burden on patients and their loved ones,&#8221; stated Bill Martin, the head J&amp;J's neuroscience team. &#8220;We&#8217;re pleased to build on the more than a decade of research reinforcing the safety and efficacy of SPRAVATO and look forward to working with the FDA to bring this innovative treatment to patients as a monotherapy option.&#8221;
The application is supported by positive results from a Phase 4 study that showed Spravato, when used alone, produced "a rapid change in Montgomery-Asberg Depression Rating Scale total score as early as 24 hours after the first Spravato dose and sustained through at least 4 weeks of treatment," J&amp;J said.
To date, Spravato has been approved in 77 countries and administered to more than 100,000 people worldwide.
<h2 class="wp-block-heading">Strong Sales</h2>
J&amp;J recently reported its financial results revealing nearly 100% growth in Spravato sales year-over-year. While the company suppressed analyst forecasts by reporting adjusted earnings per share of $2.80 versus the consensus of $2.62 and raised full-year earnings guidance, Spravato's sales numbers stood out, <a target="_blank" href="https://www.benzinga.com/23/07/33310531/sales-of-johnson-johnson-esketamine-drug-spravato-rise-nearly-100-year-over-year" rel="noreferrer noopener">wrote</a> Shadd Dales for Benzinga.
In the U.S. and worldwide, year-over-year Spravato revenues grew 93.2% and 98.5%, respectively. Overall, Spravato&#8217;s growth was by far the strongest in Johnson &amp; Johnson's Neuroscience portfolio, easily topping CONCERTA (Methylphenidate) growth on a worldwide basis (28.6%).
<h2 class="wp-block-heading">Price Action</h2>
J&amp;J's shares traded 1.32 lower at $152.27 per share during Monday's mid-day session.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/04/38459615/first-patient-dosed-in-psychedelics-therapy-study-for-treatment-resistant-depression" target="_blank" rel="noreferrer noopener">First Patient Dosed In Psychedelics Therapy Study For Treatment-Resistant Depression</a></li>
</ul>
To learn more about cannabis regulation, join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a target="_blank" href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener">Get your tickets now before prices</a> surge by following <a target="_blank" href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener">this link</a>.
Photo: Michael Vi via Shutterstock

Cannabis

Psychedelics

Pharma Giant Johnson & Johnson Asks FDA To Approve Esketamine Nasal Spray For Treatment-Resistant Depression

Invesco&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ivz#NYSE">IVZ</a>) second-quarter 2024 adjusted earnings of 43 cents per share surpassed the Zacks Consensus Estimate of 41 cents. The bottom line increased 38.7% from the prior-year quarter.
Results have been primarily aided by a decline in adjusted expenses. An increase in the assets under management balance on decent inflows was a positive. However, marginally lower adjusted revenues hurt results to some extent.
On a GAAP basis, net income attributable to common shareholders was $132.2 million or 29 cents per share, unchanged from a year ago. Our estimate for the metric was $146.4 million.
<h3>Adjusted Revenues &amp; Expenses Decline</h3>
Adjusted net revenues were $1.09 billion, falling marginally year over year. The top line marginally surpassed the Zacks Consensus Estimate of $1.08 billion.
Adjusted operating expenses were $750.5 million, down 4.8% on a year-over-year basis. We expected the metric to be $787.9 million.
The adjusted operating margin was 30.9%, up from 27.7% a year ago.
<h3>AUM Balance Increases</h3>
As of Jun 30, 2024, AUM was $1.72 trillion, which increased 11.5% year over year. Our estimate for AUM was $1.67 trillion. The average AUM at second-quarter end totaled $1.67 trillion, up 11.7%.
The company witnessed long-term net inflows of $16.7 billion in the reported quarter.
<h3>Balance Sheet Strong</h3>
As of Jun 30, 2024, cash and cash equivalents were $878.5 million compared with $895.7 million as of Mar 31, 2024.
The long-term debt was $890.1 million.
<h3>Our View</h3>
Invesco is well-poised to benefit from its global footprint, product offerings and strategic buyouts. However, elevated expenses, a challenging market environment and high debt levels are major near-term concerns.
<div class="chart_embed">
<h3>Invesco Ltd. Price, Consensus and EPS Surprise</h3>
<img alt="Invesco Ltd. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/7a/1721735694.png" style="height:265px; width:577px" title="" />
Invesco Ltd. price-consensus-eps-surprise-chart | Invesco Ltd. Quote
</div>
Currently, IVZ carries a Zacks Rank #3 (Hold).
<h3>Performance of Other Asset Managers</h3>
BlackRock, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) second-quarter 2024 adjusted earnings of $10.36 per share handily surpassed the Zacks Consensus Estimate of $9.96. The figure reflects a rise of 12% from the year-ago quarter.
BLK&#39;s results benefited from a rise in revenues. AUM witnessed a solid improvement, driven by net inflows and market appreciation. However, higher expenses and a fall in non-operating income acted as headwinds for BLK.
Blackstone&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bx#NYSE">BX</a>) second-quarter 2024 distributable earnings of 96 cents per share lagged the Zacks Consensus Estimate of 99 cents. The figure declined 3.2% from the prior-year quarter.
BX&#39;s results were primarily hurt by an increase in GAAP expenses. Nevertheless, a rise in segment revenues and an improvement in the AUM balance were tailwinds.
<a href="https://www.zacks.com/stock/news/2307093/invesco-ivz-q2-earnings-beat-despite-y-y-revenue-decline?cid=CS-BENZ-FT-analyst_blog|earnings_article-2307093">To read this article on Zacks.com click here.</a>

Invesco Q2 Earnings Beat Despite Y/Y Revenue Decline

WIIM

Boeing shares are trading after Qatar Airways announced an order for 20 more Boeing 777-9 Passenger Jets. Also, Macquarie AirFrance ordered 20 Boeing 737-8 MAX jets.

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Arrowhead Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) with a Buy and maintains $60 price target.

Reiteration

ARWR

HC Wainwright & Co. Reiterates Buy on Arrowhead Pharma, Maintains $60 Price Target

Morgan Stanley analyst Brian Nowak maintains Booking Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) with a Equal-Weight and raises the price target from $3700 to $4000.

BKNG

Morgan Stanley Maintains Equal-Weight on Booking Holdings, Raises Price Target to $4000

General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) &nbsp;shares are trading <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">lower after the company reported second-quarter financial results.</a>
Also, the company announced that it delayed its 2024 Buick EV and pushed its EV pickup plant opening to 2026.
In essence, General Motors is functioning more as a profitable cash generator from traditional gasoline vehicles rather than the high-tech growth engine envisioned by &nbsp;Chief Executive Officer&nbsp;Mary Barra. Despite losses in China, strong U.S. market performance bolsters overall profitability, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-23/gm-tops-profit-estimates-raises-forecast-on-strong-truck-demand" rel="noreferrer noopener">reported </a>Bloomberg.
Meanwhile, GM Defense Canada, a subsidiary of GM Defense, has been awarded a&nbsp;C$35.8 million&nbsp;contract by the Canadian Armed Forces (CAF) for 90 light tactical vehicles (LTVs), with an <a target="_blank" href="https://www.benzinga.com//node/39907891" rel="noreferrer noopener">option to procure up to an additional 18 LTVs.</a>
&#8220;We see this contract award as the beginning of a long strategic partnership with the Canadian Armed Forces to provide enhanced tactical mobility for Soldiers today, and into the future,&#8221; said Steve duMont, president of GM Defense.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, GM stock has gained over 18% in the past year. Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and&nbsp;Invesco S&amp;P 500 Pure Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPV#NYSE">RPV</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39910693/tesla-analyst-asks-do-earnings-matter-ahead-of-q2-report-robotaxis-china-ev-guidanc" rel="noreferrer noopener">Tesla Analyst Asks &#8216;Do Earnings Matter?&#8217; Ahead Of Q2 Report: Robotaxis, China, EV Guidance In Focus</a>
GM Defense Canada will also provide training, technical manuals, and additional vehicle content sourced from Canadian companies.
Under the contract, GM Defense Canada will supply nine-passenger LTVs and a new utility variant, based on a proven U.S. Army design, to support NATO&#8217;s Enhanced Forward Presence Multinational Battlegroup in Latvia, enhancing mobility and safety in challenging landscapes.
GM Defense Canada&#8217;s light tactical vehicles, built on the Chevrolet Colorado ZR2 platform, utilize a significant proportion of Commercial-Off-The-Shelf (COTS) parts, including Chevrolet Performance components. Weighing under 5,000 pounds / 2,232 kilograms, these vehicles prioritize air transportability, maintenance accessibility via GM&#8217;s global supply chain, and robust safety features, meeting stringent CAF performance and safety standards.
&#8220;As we further expand into&nbsp;Canada&nbsp;and with other allied nations around the world, we will continue to leverage the vast resources of General Motors to ensure our global defense and government customers have the best capability to accomplish their mission,&#8221; duMont added.
Earlier today, General Motors&nbsp;reported a fiscal second-quarter 2024 sales growth of 7.2% year-on-year to $47.97 billion, <a target="_blank" href="https://www.benzinga.com//node/39904891" rel="noreferrer noopener">beating the&nbsp;analyst&nbsp;consensus estimate of $45.30 billion.</a>
The adjusted EPS of $3.06 beat the analyst consensus estimate of $2.72. In FY24, General Motors projects adjusted EPS of $9.50 – $10.50 (prior $9.00 – $10.00) versus <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">consensus of $9.72</a>. 
Price Action: GM shares are trading lower by 6.86% to $46.16 at last check Tuesday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/39913582" target="_blank" rel="noreferrer noopener">Ford Gears Up For Q2 Earnings: Will Bullish Charts Overcome Recent Dip?</a></li>
</ul>

Equities

Contracts

Movers

General

FTXR

What's Going On With General Motors Stock Today?

Deep-pocketed investors have adopted a bullish approach towards Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</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 SBUX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 75% leaning bullish and 8% bearish. Among these notable options, 5 are puts, totaling $280,860, and 7 are calls, amounting to $226,810.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $85.0 for Starbucks over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Starbucks stands at 2297.75, with a total volume reaching 1,584.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Starbucks, situated within the strike price corridor from $50.0 to $85.0, throughout the last 30 days.
<h3>Starbucks Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721755027_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 style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$3.5</td>
<td>$3.4</td>
<td>$3.45</td>
<td>$60.00</td>
<td>$138.0K</td>
<td>1.1K</td>
<td style="text-align: right;">418</td>
</tr>
<tr>
<td>SBUX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$28.75</td>
<td>$25.6</td>
<td>$26.95</td>
<td>$50.00</td>
<td>$53.9K</td>
<td>130</td>
<td style="text-align: right;">25</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$3.5</td>
<td>$3.45</td>
<td>$3.45</td>
<td>$75.00</td>
<td>$44.5K</td>
<td>6.7K</td>
<td style="text-align: right;">79</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.15</td>
<td>$78.00</td>
<td>$40.2K</td>
<td>218</td>
<td style="text-align: right;">161</td>
</tr>
<tr>
<td>SBUX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$18.35</td>
<td>$18.15</td>
<td>$18.25</td>
<td>$60.00</td>
<td>$32.8K</td>
<td>491</td>
<td style="text-align: right;">20</td>
</tr>
</tbody>
</table>

<h3>About Starbucks</h3>
Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.
In light of the recent options history for Starbucks, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Starbucks's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 3,737,241, the SBUX's price is down by -0.14%, now at $76.44. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 7 days.</li>
</ul>
<h3>Expert Opinions on Starbucks</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $83.2.
<ul>
<li>In a cautious move, an analyst from Evercore ISI Group downgraded its rating to In-Line, setting a price target of $80. </li>
<li>An analyst from JP Morgan persists with their Overweight rating on Starbucks, maintaining a target price of $90. </li>
<li>Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Starbucks, targeting a price of $81. </li>
<li>An analyst from Deutsche Bank has decided to maintain their Hold rating on Starbucks, which currently sits at a price target of $85. </li>
<li>An analyst from Citigroup persists with their Neutral rating on Starbucks, maintaining a target price of $80. </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 Starbucks options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

SBUX

Smart Money Is Betting Big In SBUX Options

Morgan Stanley analyst Brian Nowak maintains Airbnb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) with a Underweight and raises the price target from $120 to $130.

ABNB

Morgan Stanley Maintains Underweight on Airbnb, Raises Price Target to $130

Deep-pocketed investors have adopted a bearish approach towards Analog Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</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 ADI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Analog Devices. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 33% bearish. Among these notable options, 5 are puts, totaling $225,060, and 7 are calls, amounting to $538,426.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $195.0 to $260.0 for Analog Devices over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Analog Devices's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Analog Devices's significant trades, within a strike price range of $195.0 to $260.0, over the past month.
<h3>Analog Devices Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721755021_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ADI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$55.2</td>
<td>$53.1</td>
<td>$54.2</td>
<td>$200.00</td>
<td>$146.6K</td>
<td style="text-align: right;">269</td>
<td style="text-align: right;">27</td>
</tr>
<tr>
<td>ADI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$49.3</td>
<td>$47.1</td>
<td>$48.14</td>
<td>$210.00</td>
<td>$130.2K</td>
<td style="text-align: right;">226</td>
<td style="text-align: right;">27</td>
</tr>
<tr>
<td>ADI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$10.6</td>
<td>$10.3</td>
<td>$10.4</td>
<td>$220.00</td>
<td>$95.6K</td>
<td style="text-align: right;">247</td>
<td style="text-align: right;">92</td>
</tr>
<tr>
<td>ADI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$57.3</td>
<td>$56.9</td>
<td>$56.9</td>
<td>$195.00</td>
<td>$73.9K</td>
<td style="text-align: right;">113</td>
<td style="text-align: right;">13</td>
</tr>
<tr>
<td>ADI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$55.2</td>
<td>$53.1</td>
<td>$53.27</td>
<td>$200.00</td>
<td>$64.5K</td>
<td style="text-align: right;">269</td>
<td style="text-align: right;">30</td>
</tr>
</tbody>
</table>

<h3>About Analog Devices</h3>
Analog Devices is a leading analog, mixed signal, and digital signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa. The company serves tens of thousands of customers, and more than half of its chip sales are made to industrial and automotive end markets. Analog Devices' chips are also incorporated into wireless infrastructure equipment.
<h3>Where Is Analog Devices Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 1,600,278, the ADI's price is down by -4.27%, now at $229.78. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 29 days.</li>
</ul>
<h3>Professional Analyst Ratings for Analog Devices</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 $250.0.
<ul>
<li>An analyst from Barclays has decided to maintain their Equal-Weight rating on Analog Devices, which currently sits at a price target of $250. </li>
<li>An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $250. </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 Analog Devices with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Market Whales and Their Recent Bets on ADI Options

Whales with a lot of money to spend have taken a noticeably bullish stance on Toll Brothers.
Looking at options history for Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $302,598 and 2, calls, for a total amount of $59,684.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $130.0 to $155.0 for Toll Brothers over the last 3 months. 
<h3>Insights into 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 Toll Brothers'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 Toll Brothers's whale trades within a strike price range from $130.0 to $155.0 in the last 30 days. 
<h3>Toll Brothers Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721755016_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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TOL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$10.2</td>
<td>$10.1</td>
<td>$10.2</td>
<td>$140.00</td>
<td>$61.2K</td>
<td style="text-align: right;">218</td>
<td style="text-align: right;">250</td>
</tr>
<tr>
<td>TOL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$10.9</td>
<td>$10.2</td>
<td>$10.46</td>
<td>$140.00</td>
<td>$57.5K</td>
<td style="text-align: right;">218</td>
<td style="text-align: right;">55</td>
</tr>
<tr>
<td>TOL</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/16/24</td>
<td>$3.6</td>
<td>$3.4</td>
<td>$3.5</td>
<td>$133.00</td>
<td>$47.9K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">137</td>
</tr>
<tr>
<td>TOL</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$10.7</td>
<td>$10.3</td>
<td>$10.5</td>
<td>$140.00</td>
<td>$47.2K</td>
<td style="text-align: right;">218</td>
<td style="text-align: right;">150</td>
</tr>
<tr>
<td>TOL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$10.5</td>
<td>$10.2</td>
<td>$10.26</td>
<td>$140.00</td>
<td>$46.1K</td>
<td style="text-align: right;">218</td>
<td style="text-align: right;">295</td>
</tr>
</tbody>
</table>

<h3>About Toll Brothers</h3>
Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors'. The company operates in over 60 markets across 24 states and caters to move-up, active-adult, and second-home buyers. Traditional homebuilding operations represent most of company's revenue. Toll Brothers also builds luxury for-sale and for-rent properties in urban centers across the U.S. It has its headquarters in Horsham, Pennsylvania.
After a thorough review of the options trading surrounding Toll Brothers, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Toll Brothers</h3>
<ul>
<li>With a trading volume of 453,679, the price of TOL is down by -0.45%, reaching $133.52.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 28 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Toll Brothers</h3>
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $140.33333333333334.
<ul>
<li>Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Toll Brothers with a target price of $180. </li>
<li>Maintaining their stance, an analyst from Barclays continues to hold a Underweight rating for Toll Brothers, targeting a price of $116. </li>
<li>Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Toll Brothers, targeting a price of $125. </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 Toll Brothers options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

This Is What Whales Are Betting On Toll Brothers

<a href="https://www.bloomberg.com/news/articles/2024-07-23/ares-hps-line-up-3-billion-debt-for-carlyle-s-baxter-unit-bid?sref=y3YMCJ4e" title="https://www.bloomberg.com/news/articles/2024-07-23/ares-hps-line-up-3-billion-debt-for-carlyle-s-baxter-unit-bid?sref=y3YMCJ4e">https://www.bloomberg.com/news/articles/2024-07-23/ares-hps-line-up-3-billion-debt-for-carlyle-s-baxter-unit-bid?sref=y3YMCJ4e</a>

ARES

'Ares, HPS Line Up $3 Billion Debt for Carlyle's Baxter Unit Bid' - Bloomberg

Freeport-McMoRan Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcx#NYSE">FCX</a>) recorded net income (attributable to common stock) of $616 million or 42 cents per share in second-quarter 2024, up around 80% from $343 million or 23 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 46 cents, topping the Zacks Consensus Estimate of 39 cents.
Revenues rose roughly 15% year over year to $6,624 million. The figure surpassed the Zacks Consensus Estimate of $5,985.9 million. The company witnessed higher copper and gold prices in the reported quarter.
<div class="chart_embed">
<h3>Freeport-McMoRan Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Freeport-McMoRan Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ca/1721742961.png" style="height:265px; width:576px" title="" />
Freeport-McMoRan Inc. price-consensus-eps-surprise-chart | Freeport-McMoRan Inc. Quote
</div>
<h3>Operational Highlights</h3>
Copper production fell around 3% year over year to 1,037 million pounds in the reported quarter. The figure was ahead of our estimate of 1,030 million pounds.
Consolidated sales declined approximately 9.5% year over year, reaching 931 million pounds of copper, falling short of our estimate of 975 million pounds. This downside was mainly due to shipping delays in Indonesia, which were related to the timing of renewing PT-FI&#39;s copper concentrate export license.
The company sold 361,000 ounces of gold, down around 27% year over year. FCX also sold 21 million pounds of molybdenum, up around 5% year over year, in the reported quarter.
Consolidated average unit net cash costs per pound of copper were $1.73, up from $1.47 a year ago. The figure was higher than our estimate of $1.57.
The average realized copper price was $4.48 per pound, up around 17% year over year. The figure was higher than our estimate of $4.25 per pound. The average realized price per ounce for gold rose around 18% year over year to $2,299. The figure was below our estimate of $2,301.
<h3>Financial Position</h3>
Cash and cash equivalents at the end of the quarter were $5,273 million, down around 21% year over year. The company&#39;s total debt was $9,426 million, down around 1% year over year.
Cash flows provided by operations were around $1.9 billion in the reported quarter, up around 17% year over year.
<h3>Guidance</h3>
Freeport expects consolidated sales volumes for 2024 to be around 4.1 billion pounds of copper, 1.8 million ounces of gold and 82 million pounds of molybdenum. This includes third-quarter estimates of 1 billion pounds of copper, 475,000 ounces of gold and 20 million pounds of molybdenum.
Consolidated copper and gold production volumes for 2024 are expected to exceed sales volumes for the year. This is due to the deferral of approximately 100 million pounds of copper and 120,000 ounces of gold, which will be processed by PT-FI&#39;s new downstream processing facilities and sold as refined metal in 2025.
The unit net cash costs for copper are expected to average $1.63 per pound for 2024. The same has been projected at $1.71 per pound for the third quarter.
The company also sees operating cash flows of approximately $7.2 billion for 2024. Capital expenditures for the full year are projected to be around $4.7 billion.
<h3>Price Performance</h3>
Freeport&#39;s shares are up 9.3% in the past year compared with an 18.2% rise in the&nbsp;industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a1/72155.jpg?v=731370605" />
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; Key Picks</h3>
FCX currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), Eldorado Gold Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>), and Kinross Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>). Carpenter Technology, Eldorado Gold, and Kinross sport a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for CRS&#39;s current-year earnings is pegged at $4.35, indicating a year-over-year rise of 282%. CRS&#39; earnings beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, the average earnings surprise being 15.1%. The company&#39;s shares have soared 113.2% in the past year. It is slated to report fiscal fourth-quarter results on Jul 25.
The Zacks Consensus Estimate for EGO&#39;s current-year earnings is pegged at $1.09, indicating a year-over-year rise of 91.2%. EGO&#39;s earnings estimates have increased 10% in the past 60 days. EGO beat the consensus estimate in the last four quarters, with the average earnings surprise being 430.7%. The stock has rallied 49.9% in the past year.It is scheduled to release second-quarter results on Jul 25.
The Zacks Consensus Estimate for Kinross&#39;s current-year earnings is pegged at 52 cents, indicating a rise of 18.2% from the year-ago levels. KGC beat the consensus in the last four quarters, with the average earnings surprise being 46%. The stock has surged nearly 79.3% in the past year. It will report results for the second quarter on Jul 31.
<a href="https://www.zacks.com/stock/news/2307086/freeport-s-fcx-earnings-and-revenues-surpass-estimates-in-q2?cid=CS-BENZ-FT-analyst_blog|earnings_article-2307086">To read this article on Zacks.com click here.</a>

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