Latest news for Clovis Oncology Inc (OTC:CLVSQ) Stock

Clovis Oncology Inc

B of A Securities analyst Sara Senatore maintains Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Buy and raises the price target from $189 to $205.

News

Price Target

Analyst Ratings

TXRH

B of A Securities Maintains Buy on Texas Roadhouse, Raises Price Target to $205

B of A Securities analyst Sara Senatore maintains Shake Shack (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) with a Neutral and lowers the price target from $116 to $96.

SHAK

B of A Securities Maintains Neutral on Shake Shack, Lowers Price Target to $96

B of A Securities analyst Sara Senatore maintains Sweetgreen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SG#NYSE">SG</a>) with a Buy and lowers the price target from $36 to $33.

B of A Securities Maintains Buy on Sweetgreen, Lowers Price Target to $33

Trading Ideas

EVLV

Watching Evolv Technologies; Traders Circulate 'According to Mayor Adams the rollout of $EVLV is starting today in NYC subways'

B of A Securities analyst Gregory Francfort maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Underperform and raises the price target from $72 to $79.

B of A Securities Maintains Underperform on Restaurant Brands Intl, Raises Price Target to $79

State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) reported better-than-expected second-quarter <a href="https://www.benzinga.com/news/earnings/24/07/39795949/state-streets-financial-fortitude-q2-earnings-beat-with-soaring-management-fees-and-asset-growth">results on Tuesday</a>.
The company posted quarterly revenues of $3.191 billion, an increase of 2.6% year over year and beating the consensus of $3.146 billion. EPS of $2.15 topped the consensus estimate of $2.03, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Net interest income increased 6% year-over-year to $735 million, primarily due to higher investment securities yields and loan growth, partially offset by a shift in deposit mix. Investment Management AUM increased 16% Y/Y to $4.4 trillion as of quarter-end, primarily due to higher quarter-end market levels.
"Productivity improvement remains a fundamental component of our strategic agenda. In 2Q, we completed the consolidation of our final operations joint venture in India, which will further enable the transformation of our operating model, unlock efficiency savings, and improve client experience," commented Ron O'Hanley, Chairman and Chief Executive Officer.
State Street shares fell 0.4% to trade at $84.50 on Wednesday.
These analysts made changes to their price targets on State Street after the company released quarterly results.
<ul>
<li>B of A Securities analyst Ebrahim Poonawala maintained State Street with an Underperform rating and raised the price target from $85 to $96.</li>
<li>RBC Capital analyst Gerard Cassidy maintained the stock with a Sector Perform rating, while increasing the price target from $85 to $91.</li>
<li>Evercore ISI Group analyst Glenn Schorr maintained State Street with an Outperform rating, while raising the price target from $88 to $91.</li>
<li>Deutsche Bank analyst Brian Bedell maintained the stock with a Hold rating and boosted the price target from $75 to $80.</li>
<li>Barclays analyst Jason Goldberg maintained State Street with an Overweight rating and raised the price target from $102 to $103.</li>
<li>Goldman Sachs analyst Alexander Blostein maintained the stock with a Buy rating, while increasing the price target from $89 to $98.</li>
<li>Morgan Stanley analyst Connor Lynagh maintained State Street with an Equal-Weight rating, while raising the price target from $90 to $93.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39815137/top-3-industrials-stocks-that-could-sink-your-portfolio-this-month">Top 3 Industrials Stocks That Could Sink Your Portfolio This Month</a></li>
</ul>

Earnings

Markets

State Street Analysts Increase Their Forecasts After Strong Earnings

B of A Securities analyst Sara Senatore maintains Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Buy and lowers the price target from $78 to $69.

PZZA

B of A Securities Maintains Buy on Papa John's International, Lowers Price Target to $69

GNRC

Generac Awarded Up To $200M Grant For Solar/Battery Storage Installations In Low-Income Puerto Rican Communities; Installations Begin August 2024 Under DOE's Programa Acceso Solar

EMCOR Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EME#NYSE">EME</a>) has outperformed the market over the past 15 years by 8.43% on an annualized basis producing an average annual return of 20.74%. Currently, EMCOR Group has a market capitalization of $17.42 billion. 
Buying $1000 In EME: If an investor had bought $1000 of EME stock 15 years ago, it would be worth $17,687.02 today based on a price of $370.72 for EME at the time of writing.
<h3>EMCOR Group's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721237423_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.

$1000 Invested In This Stock 15 Years Ago Would Be Worth $18,000 Today

HubSpot's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) short percent of float has risen 36.3% since its last report. The company recently reported that it has 974 thousand shares sold short, which is 1.99% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.21 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>HubSpot Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721237421_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for HubSpot has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing HubSpot's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, HubSpot's peer group average for short interest as a percentage of float is 3.82%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

HUBS

How Is The Market Feeling About HubSpot?

Zscaler (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) has outperformed the market over the past 5 years by 5.14% on an annualized basis producing an average annual return of 18.31%. Currently, Zscaler has a market capitalization of $29.43 billion. 
Buying $100 In ZS: If an investor had bought $100 of ZS stock 5 years ago, it would be worth $231.77 today based on a price of $194.69 for ZS at the time of writing.
<h3>Zscaler's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721237418_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.

$100 Invested In This Stock 5 Years Ago Would Be Worth $200 Today

Zoetis's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) short percent of float has fallen 9.27% since its last report. The company recently reported that it has 6.25 million shares sold short, which is 1.37% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.1 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Zoetis Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721237415_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Zoetis has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Zoetis's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Zoetis's peer group average for short interest as a percentage of float is 6.35%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Zoetis?

KKR's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) short percent of float has risen 193.16% since its last report. The company recently reported that it has 23.15 million shares sold short, which is 3.43% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.03 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>KKR Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721237410_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for KKR has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing KKR's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, KKR's peer group average for short interest as a percentage of float is 3.00%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About KKR?

B of A Securities analyst Sara Senatore maintains Portillos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTLO#NASDAQ">PTLO</a>) with a Buy and lowers the price target from $20 to $17.

PTLO

B of A Securities Maintains Buy on Portillos, Lowers Price Target to $17

WIIM

Digital Realty Trust shares are trading lower. The data center stock may be down amid weakness in the semiconductor sector.

Shares of ASLAN Pharmaceuticals Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASLN#NASDAQ">ASLN</a>) fell sharply during Wednesday's session after the company announced that its Singapore-incorporated, sole operating subsidiary has filed for <a href="https://www.benzinga.com/quote/ASLN/news">voluntary liquidation</a>.
ASLAN Pharmaceuticals shares dipped 38.7% to $0.68 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Aptevo Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APVO#NASDAQ">APVO</a>) shares climbed 84% to $0.6073 after surging around 10% on Tuesday. Aptevo Therapeutics recently announced closing of $2.75 million offering.</li>
<li>Shimmick Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHIM#NASDAQ">SHIM</a>) shares climbed 49% to $3.0173 after the company received a $27.6 million subcontract for the Sunol Valley Water Treatment Plant Ozonation Project.</li>
<li>Aditxt, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTX#NASDAQ">ADTX</a>) shares climbed 45.3% to $2.3107. Aditxt and Evofem amended merger agreement.</li>
<li>Locafy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCFY#NASDAQ">LCFY</a>) gained 31.2% to $7.15.</li>
<li>Autonomix Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) jumped 27.2% to $1.3505.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) gained 18% to $1.60. Alpha Teknova 10% owner Telegraph Hill Partners Management Company, LLC bought a total of 12,096,773 shares at an average price of $1.24.</li>
<li>Asset Entities Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASST#NASDAQ">ASST</a>) shares climbed 17% to $1.8350.</li>
<li>Meiwu Technology Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNW#NASDAQ">WNW</a>) gained 17% to $1.0650</li>
<li>Aehr Test Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) gained 16.4% to $19.60 after the company reported better-than-expected Q4 financial results and issued FY25 revenue guidance above estimates. Also, the company announced it entered into a stock purchase agreement and made $12.7 million in orders for its FOX WaferPak full wafer Contractors.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) rose 14.5% to $0.2330. Allarity Therapeutics, last month, announced that it received notice from the NASDAQ Stock Market that it was granted a hearing.</li>
<li>ClearSign Technologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLIR#NASDAQ">CLIR</a>) gained 14.4% to $0.9499 as the company received initial order from Birwelco.</li>
<li>The Honest Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HNST#NASDAQ">HNST</a>) gained 14% to $4.0350.</li>
<li>GLOBALFOUNDRIES Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>) climbed 12.7% to $61.36.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) rose 9.4% to $16.50 after the company announced a strategic partnership with CoreWeave.</li>
<li>fuboTV Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUBO#NYSE">FUBO</a>) climbed 9.1% to $1.5610</li>
<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) gained 8.4% to $54.92 following a report suggesting the company is exploring a sale.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) rose 8% to $16.27 after the company announced a strategic partnership with CoreWeave.</li>
<li>V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) gained 7.8% to $15.35 after the company announced it entered into a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica for $1.5 billion in cash.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) fell 29.8% to $9.51 after announcing changes in executive leadership. The company named Rick Barry as Executive Chairman and Principal Executive Office and said Remi Barbier resigned as President, CEO, and Board Member.</li>
<li>4D Molecular Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDMT#NASDAQ">FDMT</a>) declined 20.9% to $21.16. 4DMT announced Phase 2 PRISM interim results for intravitreal 4D-150 in a broad wet AMD population affirming favorable safety profile and robust clinical activity.</li>
<li>Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) shares dipped 19.7% to $81.93 after the company announced a CEO transition. Additionally, comparable sales decreased in the 10-week period ended July 13.</li>
<li>Sonim Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONM#NASDAQ">SONM</a>) fell 18.2% to $0.4138.</li>
<li>Adverum Biotechnologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADVM#NASDAQ">ADVM</a>) dipped 16.3% to $7.46. Adverum Biotechnologies revealed 26-week interim analysis results of Ixo-vec from LUNA Phase 2 trial at 2024 ASRS Annual Meeting.</li>
<li>Structure Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPCR#NASDAQ">GPCR</a>) fell 16.2% to $37.44.</li>
<li>Cyclerion Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYCN#NASDAQ">CYCN</a>) fell 13.7% to $2.50.</li>
<li>Scinai Immunotherapeutics Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCNI#NASDAQ">SCNI</a>) dipped 11.8% to $4.68.</li>
<li>Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>) fell 11.7% to $1.8974.</li>
<li>Viking Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) dipped 10.8% to $50.89.</li>
<li>Onto Innovation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONTO#NYSE">ONTO</a>) fell 10% to $214.17. Onto Innovation announced Dr. Stephen Schwartz has joined its board of directors.</li>
<li>ASML Holding N.V.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares declined 9.8% to $963.01. ASML reported better-than-expected second-quarter earnings, driven by robust sales in China and a surge in new bookings.</li>
<li>Aurora Innovation, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) fell 9.5% to $4.46.</li>
<li>Nova Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVMI#NASDAQ">NVMI</a>) declined 9.2% to $219.39.</li>
<li>Eightco Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTO#NASDAQ">OCTO</a>) shares fell 9% to $0.48. Eightco Holdings recently said first-quarter revenue fell to $9.6 million from $15.9 million in the year-ago period.</li>
<li>Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) dipped 8.8% to $30.87.</li>
<li>Siebert Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIEB#NASDAQ">SIEB</a>) fell 8.5% to $1.7381 after gaining over 9% on Tuesday.</li>
<li>Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) shares declined 8.4% to $2.8950 as the company issued soft second-quarter preliminary revenue estimates. The company estimated total revenue for the second quarter of 2024 to be approximately $1.28 billion, lower than previously expected primarily due to lower-than-expected non-ticket revenue.</li>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) shares fell 8.1% to $1.3890 after jumping 41% on Tuesday.</li>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) dipped 8% to $163.01.</li>
<li>Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) fell 7.4% to $33.66.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) fell 7.3% to $4.32.</li>
<li>e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) declined 7.1% to $175.56.</li>
<li>Safe and Green Development Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGD#NASDAQ">SGD</a>) shares dipped 7.1% to $0.38.</li>
<li>J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) fell 7% to $163.74 after the company reported worse-than-expected second-quarter financial results.</li>
<li>QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) fell 6.5% to $195.94 after HSBC downgraded the stock from Buy to Hold.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) fell 6.3% to $15.11 after Donald Trump made comments in support of TikTok.</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell 5.2% to $119.82. Shares of semiconductor stocks traded lower amid reports Biden is considering further China restrictions.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39814468/alphabet-crowdstrike-and-2-other-stocks-insiders-are-selling">Alphabet, CrowdStrike And 2 Other Stocks Insiders Are Selling</a></li>
</ul>

Intraday Update

Movers

ADTX

ADVM

AEHR

ALLR

AMIX

APVO

ASLN

ASML

ASST

CLIR

CRDO

CYCN

FDMT

FIVE

FUBO

GPCR

GTLB

HNST

JBHT

LAZR

LCFY

NAAS

NVDA

NVMI

OCTO

ONTO

QCOM

SAVA

SAVE

SCNI

SHIM

SIEB

SMTC

SNAP

SONM

TKNO

VKTX

VRPX

Why ASLAN Pharmaceuticals Shares Are Trading Lower By Over 38%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

RBC Capital analyst Gerard Cassidy reiterated a <a target="_blank" href="https://www.benzinga.com/quote/STT/analyst-ratings" rel="noreferrer noopener">Sector Perform </a>rating on the shares of State Street Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) and raised the price target from $85 to $91.
STT reported 2Q24 EPS of <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39795949/state-streets-financial-fortitude-q2-earnings-beat-with-soaring-management-fees-and-asset-growth" rel="noreferrer noopener">$2.15 versus the analyst&#8217;s $2.05 estimate.</a>
The quarter&#8217;s strength was attributed to better-than-expected net interest income and fee revenues, partially offset by higher-than-expected noninterest expense, noted the analyst.
Net interest income (FTE) was $736 million versus the prior quarter of $717 million and the year-ago quarter of $691 million.
The company&#8217;s tangible book value (TBV) per share increased 1.6% to $45.25 from $44.56 in the prior quarter and increased 4.8% from $43.18 in the year-ago period, noted the analyst.
According to the analyst, core return on average assets (ROAA) of 0.86% increased from the prior quarter of 0.70%. Core return on average common equity (ROACE) of 11.9% increased from 9.5% in the prior quarter.
The correlation between price-to-book and price-to-tangible book value per share and ROE and ROTCE is very high and it behooves a management team to focus on long-term profitably as measured by these metrics, said the analyst.
STT continues to win new mandates for its products and services and in the past 12 months it has had over $330 million in servicing fee wins.
STT&#8217;s strong capital levels lead the analyst to consider its combined payout ratio should be ~100% for 2024 and 2025.
If the Federal Reserve cuts interest rates, the analyst expects STT to see an immediate impact to its net interest income, driven by repricing.
STT appears well positioned for the next 12 months with a strong pipeline of new business and the potential for meaningful stock buybacks, concluded the analyst.
Price Action: STT shares are trading lower by 0.39% at $84.49 at last check Wednesday.
Photo by Steve Smith via Flickr

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State Street Is Riding The Wave Of Favorable Market Conditions, Analyst Says

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A recent study published in the <a href="https://www.ajgponline.org/article/S1064-7481(24)00336-1/fulltext">American Journal of Geriatric Psychiatry</a> offers new perspectives on the impact of psychedelic retreats on older adults. The research reveals that, despite experiencing less intense immediate effects of psychedelics compared to younger participants, seniors reported similar improvements in well-being after attending the retreats.
<h3 class="wp-block-heading">Promising Potential of Psychedelics</h3>
<a href="https://www.benzinga.com/markets/cannabis/22/12/30109232/how-certain-psychedelics-produce-brain-and-behavior-changes-ucl-leads-new-study">Psychedelics</a>, such as psilocybin, LSD, and DMT have shown promise in treating the symptoms of various disorders. These substances induce an altered state of consciousness, which <a href="https://www.benzinga.com/markets/cannabis/21/05/20978061/how-psychedelics-without-hallucinogenic-effects-could-revolutionize-psychiatry">has been linked to therapeutic outcomes</a>. However, <a href="https://www.benzinga.com/markets/cannabis/23/06/32655632/is-it-safe-for-older-people-to-take-psychedelics-heres-what-the-research-says">very few studies have been conducted in this age group</a>, as older adults have been largely excluded from psychedelics research, leaving the safety and efficacy of these treatments for them uncertain.
&#8220;Psychedelic substances have seen a resurging interest, primarily due to their fast and sustained positive effects on well-being among diverse clinical populations,&#8221; said Lorenzo Pasquini, co-author and assistant professor of neurology at the UCSF Weill Institute for Neurosciences. He highlighted the need for targeted research, noting the widespread and difficult-to-treat changes in older adults.
Hannes Kettner, a PhD candidate at the Imperial College London Centre for Psychedelic Research also emphasized the importance of understanding different responses to psychedelics. &#8220;Older adults constitute a population that has an unmet need for better neuropsychiatric treatment options, while usually not being included in psychedelic studies.&#8221; 
<h3 class="wp-block-heading">Study Methodology And Findings</h3>
Using a prospective cohort design study, researchers looked at 62 people over 60 and 62 under who attended retreats or guided group sessions. Participants completed surveys at multiple points, from before the session to six months after.
Compared to the results observed in younger adults, researchers found that older adults experienced significant improvements in their mental well-being after participating in the retreats, which typically included substances such as psilocybin, LSD, ayahuasca and mescaline.
<h3 class="wp-block-heading">&#8216;Communitas&#8217; &#8211; A Key Predictor</h3>
A striking finding was that these improvements in seniors were not directly related to the acute effects of the psychedelics themselves. Unlike the young people, for whom the intensity of the psychedelic experience played a key role, the sense of &#8220;communitas,&#8221; or togetherness and shared joy during group activities emerged as a significant predictor of improvement in those over 60.
&#8220;Older adults had significantly less intense acute psychedelic effects – subjective experiences such as ego-dissolution or emotional breakthroughs were up to 50% lower in those aged 60+, but this seemingly didn't affect the observed improvements in well-being,&#8221; Kettner explained.
<h3 class="wp-block-heading">Addressing Mental Health Needs</h3>
The study also found that well-being improvements in seniors were more pronounced in those with a history of psychiatric diagnoses, suggesting that older adults with pre-existing mental health conditions may derive substantial therapeutic benefits from participating in these retreats.
Despite the promising results, researchers noted several limitations, including the observational nature of the study and potential biases due to participant drop-out rates and the demographic makeup of the sample. Pasquini emphasized the need for placebo-controlled randomized trials to further understand the potential benefits of psychedelics for people over 60.
&#8220;My long-term goal is to implement psychedelic-based interventions in older adults,&#8221; Pasquini explained. &#8220;Following these observational findings, more rigorous trials are needed to understand whether psychedelics can have beneficial effects on well-being or even disease-modifying properties in healthy and clinical populations of older adults.&#8221;
Kettner added, &#8220;As more people gain access to psychedelics, it will be crucial to understand their risks, benefits, and underlying mechanisms across different populations and settings.&#8221;
The study, &#8220;Effects of Psychedelics in Older Adults: A Prospective Cohort Study,&#8221; was authored by Hannes Kettner, Leor Roseman, Adam Gazzaley, Robin L. Carhart-Harris, and Lorenzo Pasquini.

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Research Shows Psychedelic Retreats Benefit Older Adults Despite Achieving Milder Effects

Johnson & Johnson shares are trading higher following better-than-expected Q2 financial results.

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