Latest news for Coin Citadel (OTC:CCTL) Stock

Coin Citadel is a Fintech company. The company is engaged in the bitcoin, blockchain, and digital currency industries. Coin Citadel mines Bitcoin Cash (BCH), Bitcoin Satoshi Vision (BSV), and other Secure Hash Algorithm (SHA) 256 based protocol cryptocurrencies. Coin Citadel also owns additional miners from other manufacturers which mine Litecoin (LTC), Zcash (ZEC), and Ethereum (ETH).

Coin Citadel

Needham analyst Mike Cikos reiterates Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) with a Buy and maintains $210 price target.

News

Price Target

Reiteration

Analyst Ratings

SNOW

Needham Reiterates Buy on Snowflake, Maintains $210 Price Target

Truist Securities analyst Michael Swartz downgrades Malibu Boats (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBUU#NASDAQ">MBUU</a>) from Buy to Hold and announces $32 price target.

Downgrades

MBUU

Truist Securities Downgrades Malibu Boats to Hold, Announces $32 Price Target

Needham analyst Mike Cikos reiterates ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) with a Buy and maintains $900 price target.

Needham Reiterates Buy on ServiceNow, Maintains $900 Price Target

Wolfe Research analyst Steven Chubak downgrades State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) from Peer Perform to Underperform and announces $73 price target.

Wolfe Research Downgrades State Street to Underperform, Announces $73 Price Target

Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>) business, announced today that the U.S. Army Contracting Command &ndash; Detroit Arsenal (ACC-DTA) placed orders valued at&nbsp;$231.9 million&nbsp;for modernized heavy tactical vehicles, kits and kit installs.
Under the orders, Oshkosh will produce new Heavy Expanded Mobility Tactical Truck (HEMTT) A4 tankers, cargos, wreckers, load handling systems (LHS), Common Bridge Transports (CBT) and Palletized Load System (PLS) A1s.

Government

Regulations

Oshkosh Defense Secures $231.9M US Army Contract for Modernized Vehicles

CSG&nbsp;increases the purchase price payable by CSG for the acquisition of The Kinetic Group business by&nbsp;$100 million&nbsp;to&nbsp;$2.1 billion. The amendment also increases the cash consideration payable to Vista Outdoor stockholders by&nbsp;$3.00&nbsp;per share of Vista Outdoor common stock to&nbsp;$21.00&nbsp;in cash.
The special meeting of Vista Outdoor stockholders to, among other things, vote on a proposal to adopt the merger agreement with CSG, is scheduled to be held virtually on July 23, 2024, at 9:00 a.m. Central Time.
Vista Outdoor Board rejects MNC&#39;s Final Indication as Inadequate and Opportunistic, Particularly in its Undervaluation of Revelyst.
&nbsp;
&nbsp;

VSTO

Vista Outdoor Board Unanimously Recommends CSG Transaction; Enters Amendment To CSG Merger Agreement As Cash Consideration Increased To $21/Share

&nbsp;Consumers Energy expects to power 1,500 new fast charging locations for electric vehicles by the end of the decade, a huge expansion in public charging that highlights still-strong&nbsp;EV growth and a bright future for clean transportation in&nbsp;Michigan.
The forecast is part of Consumers Energy&#39;s&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4204935-1&amp;h=1938154283&amp;u=https%3A%2F%2Fmi-psc.my.site.com%2Fsfc%2Fservlet.shepherd%2Fversion%2Fdownload%2F0688y00000EFQgtAAH&amp;a=Transportation+Electrification+Plan" target="_blank">Transportation Electrification Plan</a>&nbsp;that it is filing with state regulators. In the report, the energy provider shared successes in residential and business EV programs, vehicle charging at night that helps the electric grid &ndash; and offered a plan for new rebates for battery-powered public EV chargers.

Consumers Energy Plans 1,500 New EV Charging Stations, Boosting Michigan's Clean Transport

RBC Capital analyst Jonathan Atkin upgrades GDS Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) from Sector Perform to Outperform and raises the price target from $13 to $14.

Upgrades

RBC Capital Upgrades GDS Holdings to Outperform, Raises Price Target to $14

Futu Holdings Limited (&quot;Futu&quot; or the &quot;Company&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), a leading tech-driven online brokerage and wealth management platform, today announced that its wholly-owned subsidiary, Futu Securities International (Hong Kong) Limited (&quot;Futu Securities&quot;), has upgraded its Type 1 license to include virtual asset dealing service by Hong Kong Securities and Futures Commission (SFC). This upgrade will enable Futu Securities to provide virtual asset dealing services to both retail and professional investors in Hong Kong. 
&nbsp;

FUTU

Futu Securities Gains License to Offer Virtual Assets, Expands Services in Hong Kong

<ul>
<li>~39% Overall Response Rate (ORR): 1 CR and 6 PRs (2 awaiting confirmation) by RECIST 1.1 out of 18 evaluable MTAP-deletion urothelial and NSCLC patients</li>
<li>~94% Disease Control Rate (DCR): 1 CR and 6 PRs and 10 SD by RECIST 1.1</li>
<li>~78% of Patients with Tumor Shrinkage: 14 patients observed tumor shrinkage</li>
<li>~81% ctDNA Molecular Response Rate (MRR): 13 of 16 patients with &gt; 50% ctDNA reduction</li>
<li>AE Profile: ~5.6% drug-related grade &gt;3 AEs and no drug-related SAEs or discontinuations at 30 mg once-a-day expansion dose</li>
<li>IDE397 expansion dose of 30 mg once-a-day achieved target drug coverage and plasma SAM pharmacodynamic reduction associated with preclinical tumor regressions</li>
<li>~48k U.S. annual incidence of MTAP-deletion urothelial cancer and NSCLC, with high unmet need and no FDA-approved therapies for MTAP-deletion solid tumors</li>
</ul>

Biotech

Health Care

General

IDYA

Ideaya Biosciences Announced Clinical Data For The IDE397 Phase 2 Monotherapy Expansion Dose In Methylthioadenosine Phosphorylase-deletion Urothelial And Non-small Cell Lung Cancer Patients

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/markets/equities/24/07/39658170/tesla-could-be-on-the-verge-of-a-9-day-winning-streak-as-nvidia-apple-microsoft-and-other-mag-7-">stock rally accelerated</a> following the company&#8217;s second-quarter deliveries report and the steep ascent obliterated the short positions of some hedge funds, a report said on Sunday. 
Short Interest Spikes: The percent of hedge funds tracked by Hazeltree which shorted Tesla rose from under 15% at the end of March to 18% at the end of June, <a href="https://www.bloomberg.com/news/articles/2024-07-07/hedge-funds-that-piled-into-big-tesla-short-stung-by-huge-rally">said</a> Bloomberg in a report. This marked the highest percentage in over a year, the report said.
These contrarian bets may have saddled the funds with losses, the report said. In the two sessions following the deliveries report, Tesla shorts may have lost $3.5 billion on a mark-to-market basis, <a href="https://www.cnbc.com/amp/2024/07/04/tesla-short-sellers-lost-3point5-billion-in-two-days-after-q2-deliveries.html">according </a>to S3 Partners&#8217; estimates, CNBC reported.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
Analysts Positive Of Turnaround: Tesla&#8217;s profit margins are on track to see an improvement, thanks to lower production and raw material costs, Morningstar analyst Seth Goldstein said, Bloomberg reported. While expressing confidence in the company returning to profit growth in 2025, the analyst reportedly said &#8220;How Tesla handles the market's intensifying focus on affordable EVs will be key.&#8221;
Hedge fund Ambient&#8217;s chief investment officer Fabio Pecce reportedly said that Tesla is &#8220;very difficult for us to position,&#8221; given investor dilemma regarding the company&#8217;s fundamentals and management&#8217;s effectiveness. That said, Blue Orca Capital founder Soren Aandahl said the valuations in the EV space are so beat up that he now avoided shorting the sector. &#8220;It's no longer an obvious contrarian bet, because those tend to do best if investors enter &#8216;when things are a little bit higher,'&#8221; he said.
But Eirik Hogner, deputy portfolio manager at hedge fund Clean Energy Transition, however, sees more downside. &#8220;Ultimately, I think you need to see more bankruptcies" before the market starts to look healthier,&#8221; he said. <a href="https://www.benzinga.com/news/24/06/39391166/fiskers-bankruptcy-leaves-investors-asking-hard-questions-about-ev-viability">Fisker and Arrival are among the EV startups that went bankrupt recently</a>, while some of the newbies are operating with a severe cash crunch.
Fund manager Gary Black, who co-founded Future Fund, reminded his followers of his comments from the previous week. &#8220;I said last week that those who short $TSLA should have their heads examined,&#8221; he said. &#8220;The fundamentals of the EV business are too strong and $TSLA is too well positioned to take advantage of the secular megatrends favoring EVs over ICE vehicles,&#8221; he added.
In premarket trading, the stock fell 1.66% to $247.35, according to<a href="https://benzinga.grsm.io/register174"> Benzinga Pro data.</a> The stock has gained about 38% since it began the recent streak of eight sessions of gains. With Friday&#8217;s advance, the stock wiped away its year-to-date loss and is up 1.2% for the year.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39660003/tesla-bull-says-ev-giants-fsd-revenue-nearing-1b-annual-run-rate-urges-breaking-out">Tesla Bull Says EV Giant&#8217;s FSD Revenue Nearing $1B Annual Run-Rate, Urges Breaking Out AI And Robotics Numbers</a></li>
</ul>
Image Via Shutterstock

Equities

Markets

TSLA

As Tesla Rally Hurts Shorts, Fund Manager Says 'Fundamentals Of The EV Business Are Too Strong' And Elon Musk-Led Company 'Too Well Positioned'

Porsche AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/POAHY#OTC">POAHY</a>) has decided to end the production of some of its internal combustion engine models earlier than planned, as the company accelerates its transition to electric vehicles.
This comes after Porsche&#8217;s parent company Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) <a href="https://www.benzinga.com/markets/equities/24/06/39493800/why-do-some-tesla-investors-so-despise-rivian-asks-bullish-gary-black-they-dont-appear-to-get-th">recently invested $5 billion</a> in Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), a rival to Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), as part of its global expansion strategy in the electric vehicle market.
What Happened: The German automaker will discontinue the production of petrol-powered versions of its SUV model Macan for non-European markets by 2026, earlier than initially projected, reported Reuters. The company will then focus on electric versions of the Macan to further its sustainability agenda.
Production of the combustion engine versions of the Boxster and Cayman sports cars, known as the 718 model range, will cease next year. Porsche is already concentrating on the electric versions, which are set to be launched in 2024. The production of petrol-powered versions of the 718 and Macan for European markets has already been stopped.
See Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/07/39646799/nio-stock-takes-a-wild-ride-leadership-shake-up-mixed-technical-signals?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nio Stock Takes A Wild Ride: Leadership Shake-Up, Mixed Technical Signals</a>
Albrecht Reimold, a member of Porsche&#8217;s executive board, stated that the decision was driven by the end of the platform&#8217;s cycle. Despite a recent decline in electric vehicle demand, the company remains committed to its electric vehicle strategy.
Why It Matters: The automotive industry is experiencing a significant shift towards electric vehicles. A report by the International Energy Agency predicts that <a href="https://www.benzinga.com/markets/equities/24/04/38386240/automotive-industry-shifts-gears-electric-cars-to-dominate-roads-by-2030">nearly one-fifth of cars in the U.S. and the European Union</a> will be electric by 2030. This shift is expected to reshape the global auto industry and reduce oil consumption for road transport.
However, the transition to electric vehicles has not been without its challenges. The market&#8217;s slower-than-expected adoption of EVs has prompted major automakers to <a href="https://www.benzinga.com/news/24/03/37688367/electric-vehicle-market-slows-down-prompts-major-automakers-to-shift-strategy">rethink their strategies</a>. In response to the EV market&#8217;s slowdown, consumer preferences and OEM investments have shifted from electric vehicles to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39063832/as-ev-adoption-stalls-due-to-chicken-and-the-egg-situation-hybrids-race-ahead">hybrids as a bridge solution</a>.
Investor Gary Black has praised Volkswagen&#8217;s move to invest in Rivian, describing it as a strategic fit, highlighting Volkswagen&#8217;s capability to manage autonomous auto businesses across its distinct brands like Audi, Bentley, Lamborghini, and Bugatti.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39645492/tesla-stock-on-track-to-extend-gains-for-8th-straight-session-whats-driving-rally?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Stock On Track To Extend Gains For 8th Straight Session: What&#8217;s Driving Rally?</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Porsche Automobile Holding SE Unsponsored

POAHY

RIVN

VWAGY

Volkswagen Gears Up To Capitalize On Elon Musk's Tesla Struggling With Sales: Subsidiary Porsche Accelerates Shift To EVs, Days After German Auto Giant's Rivian Investment

JMP Securities analyst Mitch Germain initiates coverage on Four Corners Prop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCPT#NYSE">FCPT</a>) with a Market Perform rating.

Initiation

FCPT

JMP Securities Initiates Coverage On Four Corners Prop with Market Perform Rating

Stifel analyst Jim Duffy upgrades Columbia Sportswear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLM#NASDAQ">COLM</a>) from Hold to Buy and raises the price target from $84 to $92.

COLM

Stifel Upgrades Columbia Sportswear to Buy, Raises Price Target to $92

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reportedly <a href="https://www.benzinga.com/news/23/12/36385255/how-to-turn-on-apples-stolen-device-protection-on-your-shiny-new-iphone">instructed its employees in China</a> to use Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhones for work, effectively banning Android-powered devices.
What Happened: Microsoft communicated to its China-based employees that they would only be permitted to use Apple devices for work purposes starting in September, <a href="https://www.bloomberg.com/news/articles/2024-07-08/microsoft-orders-china-staff-to-switch-from-android-phones-to-iphones-for-work">reported</a> Bloomberg, which cited an internal memo.
This decision is part of the Redmond-based software giant&#8217;s global Secure Future Initiative, aiming to ensure that all employees use the Microsoft Authenticator password manager and Identity Pass app.
The move underscores the fragmented nature of Android app stores in China and the growing disparities between Chinese and foreign mobile ecosystems. 
Google Play is not available in China, so local smartphone makers like Huawei Technologies Co. and Xiaomi Corp. operate their platforms. Microsoft has decided to block access from these devices to its corporate resources due to the absence of Google&#8217;s mobile services in the country.
See Also: <a href="https://www.benzinga.com/news/24/07/39656269/apples-ai-shift-board-observer-role-at-openai-extended-iphone-settlement-deadline-and-ai-partnership?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s AI Shift, Board Observer Role At OpenAI, Extended iPhone Settlement Deadline, And AI Partnership With Google</a>
Employees using Android devices, including those made by Huawei or Xiaomi, will be provided with an iPhone 15 as a one-time purchase. The company will make iPhones available for collection at various hubs across China, including Hong Kong, where Google&#8217;s services are accessible.
Microsoft did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: This move by Microsoft is significant in the context of the ongoing <a href="https://www.benzinga.com/government/24/06/39473039/us-probing-chinese-telecom-giants-over-potential-data-threats-report">U.S. investigation into Chinese telecom giants</a> over potential data threats. The U.S. government is scrutinizing China Mobile, China Telecom, and China Unicom for possible misuse of American data, a concern that has also been echoed in Microsoft&#8217;s decision.
This decision comes in the wake of Microsoft&#8217;s increased global security measures, following repeated attacks from state-sponsored hackers. In January, a Russia-linked breach affected dozens of <a href="https://www.benzinga.com/news/24/07/39573008/microsoft-hack-exposes-texas-agencies-to-russian-state-sponsored-attack-report">U.S. government agencies</a>, including the State Department.
Moreover, this development also highlights the complexities of the Chinese tech market, where companies like Apple have had to <a href="https://www.benzinga.com/news/24/04/38328967/apple-bows-to-chinas-security-concerns-pulls-2-meta-products-from-app-store">comply with the government&#8217;s security concerns</a> and remove certain apps from their app store. This move by Microsoft further underscores the challenges foreign tech companies face in navigating the Chinese market.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39656529/nvidias-dominance-ai-investments-and-a-predicted-market-crash-this-week-in-artificial-intelligence?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Dominance, AI Investments, And A Predicted Market Crash: This Week In Artificial Intelligence</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Tech

AAPL

MSFT

Microsoft Asks Staff In China To Switch From Android Phones To iPhones At Work: Report

Stifel analyst Shlomo Rosenbaum upgrades Ecolab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) from Hold to Buy and raises the price target from $233 to $283.

Stifel Upgrades Ecolab to Buy, Raises Price Target to $283

Guggenheim analyst John Difucci downgrades ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) from Neutral to Sell and announces $640 price target.

Guggenheim Downgrades ServiceNow to Sell, Announces $640 Price Target

In relation to certain rumors appearing in the media about a potential transaction involving Grifols, S.A. ("Grifols" or the "Company"), Brookfield confirms that it has held exploratory conversations with certain key shareholders of the Company regarding a potential joint offer for the shares of Grifols to delist them from the Spanish stock exchanges and NASDAQ. Brookfield and various entities that hold the shares of these key shareholders (i.e., Scranton Enterprises B.V., Deria S.L., Ponder Trade S.L., and Ralledor Holding Spain, S.L. – the "Key Shareholders") have signed an exclusivity agreement to continue evaluating the potential transaction. On July 7, the Key Shareholders and Brookfield requested the Company's Board of Directors access certain information to conduct, as usual, a due diligence exercise.
At this time, there is no agreement or decision regarding the potential transaction or its possible terms or conditions. There is no guarantee that Brookfield or the Key Shareholders will make an offer for the shares of Grifols. Any updates will be communicated to the market in accordance with applicable regulations.

GRFS

Brookfield Confirms It Held Exploratory Discussions With Certain Reference Shareholders Of Co In Relation To A Potential Joint Offer For Grifols' Shares To Delist Them

B. Riley Securities analyst Eric Wold upgrades Cinemark Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNK#NYSE">CNK</a>) from Neutral to Buy and raises the price target from $16 to $27.

B. Riley Securities Upgrades Cinemark Hldgs to Buy, Raises Price Target to $27

Cantor Fitzgerald analyst Troy Jensen downgrades Desktop Metal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DM#NYSE">DM</a>) from Overweight to Neutral and lowers the price target from $12.5 to $5.5.