Latest news for Calix (OTC:CLXLF) Stock

Calix Ltd Australian technology company. It has developed a patent-protected, platform technology that produces new materials and processes, targeted at solving global challenges in water and wastewater treatment, sustainable food Biotech, CO2 mitigation, and advanced battery development. Its core technology platform includes the Calix Flash Calciner (CFC). It has operations in Australia, New Zealand, Asia, Europe, and the United States of America.

Calix Ltd

RBC Capital analyst Michael Carroll maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Sector Perform and raises the price target from $172 to $186.

News

Price Target

Analyst Ratings

RBC Capital Maintains Sector Perform on EastGroup Props, Raises Price Target to $186

Contracts

NXST

PARA

Paramount Global And Nexstar Media Renew Affiliation Agreements; Terms Not Disclosed

Piper Sandler analyst Jason Bednar maintains Envista Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVST#NYSE">NVST</a>) with a Neutral and lowers the price target from $18 to $16.

NVST

Piper Sandler Maintains Neutral on Envista Holdings, Lowers Price Target to $16

Guidance

Archer-Daniels-Midlands Expects Lower Q3 Operating Profit For AG Services And Oilseeds Segment From Last Year

Regardless of your position on the political spectrum, it&#8217;s no secret that Congress, as a whole, has the assets and investment opportunities to grow long-term wealth. Now, you have the chance to copy Congress.&nbsp;
Don't Miss:
<ul>
<li>If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?</li>
<li>Don&#8217;t miss the real AI boom &#8211;<a href="https://www.benzinga.com/money/fundrise-innovation-fund"> here&#8217;s how to use just $10 to invest in high growth private tech companies.</a></li>
</ul>
There are two new <a href="https://www.benzinga.com/etfs">exchange-traded funds (ETFs)</a> that mimic the trading patterns of the U.S. Congress members. You can invest in:
<ul>
<li>The Unusual Whales Subversive Democratic Trading ETF, ticker NANC, is an ETF based on Democratic lawmakers&#8217; trades, named after Nancy Pelosi.</li>
<li>The Unusual Whales Subversive Republican Trading ETF, ticker KRUZ, is based on Republican lawmakers&#8217; trades and is named after Ted Cruz. </li>
</ul>
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
The Nancy Pelosi ETF (NANC) was established on Feb. 10, 2023. It has an all-time return of 44.43%, or an increase of $10.97 since its initial offering of $24.69. While the NANC fund has had a good showing, what if you had invested $20 a week in Nancy Pelosi's portfolio for the past five years? You'd have invested $5,220 over five years and have $8,326 today, a 1.6X return. Over the same period, the SPY ETF had a lower return; you&#8217;d have $8,130 today.
Also established on Feb. 10, 2023, the KRUZ ETF is up 21.74%, to $30.39 per share, from $24.96 at its inception. If you had invested $1,000 on Feb. 10, 2023, you&#8217;d have $1,217.40 today.&nbsp;
 What&#8217;s the difference between the positions in the two funds?&nbsp;
<ul>
<li>KRUZ ETF has a higher percentage in oil and gas (11%).</li>
<li>NANC ETF has a higher percentage in software (17.5%).</li>
</ul>
See Also: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
On NPR&#8217;s show The Indicator from Planet Money, hosts Darian Woods and Wailin Wong decided to try it out. As an experiment, the hosts invested $77.35 in these ETFs and flipped a coin to decide who invested in which fund.
As of July 28, 2024:
<ul>
<li>Democratic-based trades (NANC) are up 18.20% year-to-date</li>
<li>Republican-based trades (KRUZ) are up 10.42% year-to-date</li>
</ul>
If the hosts <a href="https://www.benzinga.com/insights/news/24/07/39995679/if-you-invested-1000-in-this-stock-5-years-ago-you-would-have-2-000-today">had invested</a> from Jan. 1, the NANC investor would have made $14.07, and the KRUZ investor would have made $8.05—hardly life-changing numbers.&nbsp;
Before you buy, consider the ethics of politicians trading stocks. Some advocates are calling for a ban on congressional stock trading. In fact, a proposed bill called the ETHICS Act aims to address this issue. However, a study has shown that congresspeople&#8217;s trades don&#8217;t systematically outperform the market. In fact, almost absurdly, experiments with reindeer picking stocks outperformed congresspeople&#8217;s trades, highlighting the inherent risks of any investment.&nbsp;
Should you invest in either of these funds? Individual investors could benefit from the <a href="https://www.benzinga.com/money/what-is-a-broad-based-index-fund">broad diversification</a> of both funds. However, investing in either fund doesn&#8217;t directly support either political party, and investors don&#8217;t need to pick funds based on political affiliations to reap the financial rewards.&nbsp;
Read Next:
<ul>
<li>Don&#8217;t miss out on the next Nvidia &#8211;<a href="https://www.benzinga.com/money/fundrise-innovation-fund"> you can invest in the future of AI for only $10.</a></li>
<li>Finally allowing commercial real estate investing to be more accessible —<a href="https://www.benzinga.com/money/equitymultiple-ascent-fund"> This fund aims to triple your money in 10 years is with a surprisingly low minimum.</a></li>
</ul>

Markets

Copying Congress: The Bizarre World of Political Stock-Picking Funds

American Electric Power Company, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) reported the&nbsp;second quarter&nbsp;2024 revenue of&nbsp;$4.60 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n40032882/aep-reports-second-quarter-2024-earnings-reaffirms-guidance" rel="noreferrer noopener">missing the consensus of&nbsp;$4.74 billion</a>.
Commercial load increased by 12.4% Y/Y, driven by over a 20% gain at its Transmission &amp; Distribution companies, with new data processing facilities coming online.
Total energy distribution rose&nbsp;2.0%&nbsp;Y/Y in the Vertically Integrated Utilities segment and&nbsp;12.0%&nbsp;in the Transmission &amp; Distribution Utilities segment.&nbsp;
Adjusted operating earnings rose to&nbsp;$662.0 million&nbsp;from&nbsp;$582.2 million&nbsp;a year ago.&nbsp;
Adjusted operating earnings from Vertically Integrated Utilities fell to&nbsp;$244.8 million&nbsp;from&nbsp;$260.4 million&nbsp;the prior year, and AEP Transmission Holdco grew to&nbsp;$208.9 million&nbsp;from&nbsp;$196.5 million in the prior&nbsp;year&#8217;s quarter.
Adjusted EPS&nbsp;of&nbsp;$1.25<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> beat the consensus of&nbsp;$1.23</a>.
In the quarter, the company launched a voluntary workforce reduction program involving around 1,000 employees and expects to see the program&#8217;s benefits in the latter half of the year.
FY24&nbsp;Outlook: American Electric Power reiterated adjusted operating earnings per share&nbsp;guidance at&nbsp;$5.53-$5.73<a target="_blank" href="https://www.benzinga.com//node/38531253" rel="noreferrer noopener"> vs.&nbsp;consensus of&nbsp;$5.62</a>.
The company also maintained a long-term growth rate <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">outlook of 6% to 7%</a>.
In June, American Electric appointed William J. &#8220;Bill&#8221; Fehrman as president and CEO,<a target="_blank" href="https://www.benzinga.com//node/39513754" rel="noreferrer noopener"> effective August 1, 2024</a>.
Ben Fowke, interim chief executive officer and president, said, &#8220;To help meet the growing energy needs of our customers and communities, we&#8217;re making steady progress transforming our generation fleet with active requests for proposals and plans to add more than 20 gigawatts of new resources over the next decade.&#8221;
&#8220;In June, Public Service Company of&nbsp;Oklahoma&nbsp;announced it will seek regulatory approval of an agreement to purchase Green Country, a 795-megawatt natural gas generation facility that will serve as a reliable and affordable local energy resource for customers.&#8221;
Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund &#8211; Utilities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and&nbsp;Opal Dividend Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIVZ#NYSE">DIVZ</a>).
Price Action: AEP shares are down 0.18% at $96.90 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Earnings

Equities

Large Cap

DIVZ

American Electric Power's Q2 Highlights: Mixed Results, Job Cuts, Maintains Guidance

<a href="https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/amazoncom-inc-679523-07252024" title="https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/amazoncom-inc-679523-07252024">https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/amazoncom-inc-679523-07252024</a>

AMZN

FDA Issues Warning To Amazon Over Distribution Of Unapproved Chemical Peel Products; Violations Include Introduction Of Unapproved New Drugs And Public Health Risks

McDonald's Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) posted worse-than-expected second-quarter <a href="https://www.benzinga.com/news/earnings/24/07/40008869/mcdonalds-q2-earnings-consumer-spending-shifts-hit-revenue-and-operating-margins-franchise-revenue-">financial results on Monday</a>.
McDonald's reported a second-quarter FY24 sales decline of 0.12% year-on-year to $6.490 billion, missing the analyst consensus of $6.608 billion. Adjusted EPS of $2.97 missed the analyst consensus estimate of $3.07, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Global comparable sales decreased 1.0%, while U.S. comparable sales slipped 0.7%.
&#8220;We are confident that Accelerating the Arches is the right playbook for our business and as consumers are more discriminating with their spend, we are focused on the outstanding execution of delivering reliable, everyday value and accelerating strategic growth drivers like chicken and loyalty,&#8221; said CEO Chris Kempczinski.
McDonald&#8217;s expects net restaurant unit expansion to contribute nearly 2% to 2024 Systemwide sales growth in constant currencies. It anticipates that the full-year 2024 Selling, general and administrative expenses will be about 2.2% of Systemwide sales, and the 2024 operating margin will be in the mid-to-high 40% range.
McDonald&#8217;s shares gained 3.7% to close at $261.42 on Monday.
These analysts made changes to their price targets on McDonald&#8217;s following the announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/587e33185064ed0001730304/john-ivankoe">JP Morgan analyst John Ivankoe</a> maintained McDonald&#8217;s with an Overweight rating and lowered the price target from $290 to $270.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/584fea22ee7bf600019078d3/andrew-strelzik">BMO Capital analyst Andrew Strelzik</a> maintained the stock with an Outperform rating and slashed the price target from $330 to $315.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/609d102135245a00019e3fe4/jeffrey-bernstein">Barclays analyst Jeffrey Bernstein</a> maintained McDonald&#8217;s with an Overweight and lowered the price target from $320 to $300.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/589dc33d43eaaa000122c591/jake-bartlett">Truist Securities analyst Jake Bartlett</a> maintained the stock with a Buy and slashed the price target from $300 to $295.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40029782/us-stocks-close-mixed-ahead-of-big-earnings-fed-decision-investor-optimism-improves-further">US Stocks Close Mixed Ahead Of Big Earnings, Fed Decision: Investor Optimism Improves Further</a></li>
</ul>

McDonald's Analysts Cut Their Forecasts After Downbeat Earnings

Investment bank Jefferies termed the recent Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Conference, where former President Donald Trump pledged to &#8220;<a href="https://www.msn.com/en-us/money/other/trump-s-bitcoin-conference-pledge-can-he-really-fire-sec-chair-gensler/ar-BB1qQ6tz">fire Gary Gensler</a>,&#8221; a turning point in the industry&#8217;s relationship with Washington.
What Happened: &#8220;His overtures to the industry to install crypto-friendly regulators may have the effect of near-term BTC price being tied to the outcome of the U.S. presidential election,&#8221; said Jefferies analysts Jonathan Petersen and Joe Dickstein.
Trump&#8217;s promises to maintain a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39866338/bitcoin-as-a-strategic-reserve-asset-for-the-us-expert-details-how-trump-could-make-it-hap">strategic Bitcoin reserve</a>, appoint pro-crypto regulators and establish a presidential advisory council for the industry have sent shockwaves through the market.
While this newfound political support is a recent development, its impact on Bitcoin&#8217;s price could be significant, especially as the US heads towards a presidential election.
On the <a href="https://www.benzinga.com/money/how-to-mine-bitcoin">mining front</a>, the post-halving landscape is shaping up differently than initially anticipated, <a href="https://www.coindesk.com/markets/2024/07/30/bitcoins-future-could-be-tied-to-the-outcome-of-the-us-election-jefferies/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines">according</a> to Jefferies.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40033967/bitcoin-drops-below-67-000-what-is-going-on-with-bitcoin-ethereum-etfs">Bitcoin Drops Below $67,000: What Is Going On With Bitcoin, Ethereum ETFs?</a>
Bitcoin&#8217;s price has increased by around 5% since the <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">halving</a> in April, while the network&#8217;s hashrate has declined by 8% over May and June.
This has led to improved profitability for miners, although revenue per unit of computing power (exahash) is still down by 40-45%.
Despite these challenges, major mining companies are continuing to invest in expanding their operations. However, the industry is also undergoing a consolidation phase. 
Recent deals, such as CleanSpark&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) acquisition of GRIID and Riot Platforms&#8216; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) bid for Bitfarm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BITF#NASDAQ">BITF</a>), which was rejected, highlight the growing importance of access to cheap energy in the mining sector.
&#8220;Access to power is far more valuable than the mining fleets,&#8221; Jefferies noted.
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 platform to delve deeper into these trends and discuss their implications for the future of the cryptocurrency market.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40020140/four-arrested-in-kyiv-for-brutal-bitcoin-related-kidnapping-and-murder">Four Arrested In Kyiv For Brutal Bitcoin-Related Kidnapping And Murder</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

BITF

CLSK

RIOT

Donald Trump's Overtures Mean The Bitcoin Price May Be Tied To The Outcome Of 2024 Election: Jefferies

<ul>
<li>NVDA</li>
<li>TSLA</li>
<li>PYPL</li>
<li>WAY</li>
<li>AMD</li>
<li>MSFT</li>
<li>CRWD</li>
<li>MADE</li>
<li>AI</li>
<li>SOFI</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

Trading Ideas

CRWD

MADE

MSFT

NVDA

PYPL

SOFI

TSLA

Top 10 Trending Stocks On WallStreetBets As Of July 30 2024 (Via Swaggy Stocks)

Varonis Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>) reported better-than-expected second-quarter financial results and <a href="https://www.benzinga.com/quote/VRNS/earnings">raised its FY24 guidance on Monday.</a>
Varonis Systems reported quarterly earnings of 5 cents per share which beat the analyst consensus estimate for a loss of 2 cents per share. The company reported quarterly sales of $130.346 million which beat the analyst consensus estimate of $124.842 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Varonis raised its FY24 revenue guidance from $536 million &#8211; $546 million to $544 million &#8211; $552 million. The company boosted adjusted earnings outlook from 13 cents-16 cents per share to 22 cents-24 cents per share.
Varonis Systems shares gained 0.1% to close at $48.49 on Monday.
These analysts made changes to their price targets on Varonis Systems following the announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/634fc93b2048c3000154adda/shrenik-kothari">Baird analyst Shrenik Kothari</a> upgraded Varonis from Neutral to Outperform and raised the price target from $52 to $60.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/590783e6290fa70001409b4a/rob-owens">Piper Sandler analyst Rob Owens</a> maintained the stock with a Neutral and raised the price target from $45 to $48.</li>
<li><a href="https://www.benzinga.com/topic/shyam-patil">Susquehanna analyst Shyam Patil</a> maintained Varonis with a Positive rating, while raising the price target from $55 to $65.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586f8e4a72b34c0001c9b134/saket-kalia">Barclays analyst Saket Kalia</a> maintained Varonis with an Overweight and boosted the price target from $55 to $60.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/57fdefd3ac6af40001334e3e/joel-fishbein">Truist Securities analyst Joel Fishbein</a> reiterated Varonis with a Buy and raised the price target from $55 to $60.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58a3019243eaaa00011f4050/andrew-nowinski">Wells Fargo analyst Andrew Nowinski</a> maintained the stock with an Equal-Weight and increased the price target from $45 to $48.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40029782/us-stocks-close-mixed-ahead-of-big-earnings-fed-decision-investor-optimism-improves-further">US Stocks Close Mixed Ahead Of Big Earnings, Fed Decision: Investor Optimism Improves Further</a></li>
</ul>

VRNS

These Analysts Raise Their Forecasts On Varonis Systems Folloiwng Upbeat Results

BMO Capital analyst Ketan Mamtora maintains West Fraser Timber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) with a Outperform and raises the price target from $92 to $105.

BMO Capital Maintains Outperform on West Fraser Timber, Raises Price Target to $105

Tilray Brands Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares are trading higher Tuesday after the company reported better-than-expected financial results <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40036301/tilray-should-be-a-long-term-holding-in-any-global-portfolio-of-cannabis-stocks-say">for the fourth quarter</a>.
<ul>
<li>Q4 Revenue: $229.882 million, versus <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $227.07 million</li>
</ul>
<ul>
<li>Q4 EPS: 4 cents, versus estimates for a loss of 2 cents</li>
</ul>
Total revenue was up approximately 25% on a year-over-year basis. Cannabis net revenue jumped&nbsp;12%&nbsp;to&nbsp;$71.9 million in the quarter, while beverage-alcohol net revenue increased&nbsp;137%&nbsp;to&nbsp;$76.7 million. Distribution net revenue fell to&nbsp;$65.6 million&nbsp;in the fourth quarter and Wellness net revenue increased&nbsp;6%&nbsp;to&nbsp;$15.7 million.
Gross profit came in at&nbsp;$82.4 million in the fourth quarter. Gross margin&nbsp;and adjusted gross margin was&nbsp;36%. Adjusted EBITDA increased 37% year-over-year to&nbsp;$29.5 million&nbsp;in the&nbsp;fourth quarter. Tilray noted that it reduced its net convertible debt by about $300 million in fiscal 2024.
"Tilray Brands is leading the convergence of cannabis, beverages, and wellness on a global scale," said&nbsp;Irwin Simon, chairman and CEO of Tilray Brands.
"In Fiscal 2024, the Company achieved remarkable growth across its businesses, with a&nbsp;26%&nbsp;increase in net revenue over the prior year, record-breaking performance in gross profit and adjusted EBITDA, and generated positive adjusted free cash flow for the fiscal year. We have also significantly reduced our net convertible debt by ~$300 million&nbsp;and surpassed our cost-savings synergy target, which has strengthened our balance sheet."
Following the print, Zuanic &amp; Associates senior analyst&nbsp;Pablo Zuanic maintained a <a href="https://www.benzinga.com/analyst-stock-ratings">Neutral rating</a> on Tilray shares, but noted that the stock&nbsp;should be a long-term holding in global cannabis portfolios.
Check This Out: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40036301/tilray-should-be-a-long-term-holding-in-any-global-portfolio-of-cannabis-stocks-say">&#8216;Tilray Should Be A Long-Term Holding In Any Global Portfolio Of Cannabis Stocks,&#8217; Says Analyst</a>
TLRY Price Action: <a href="https://www.benzinga.com/quote/TLRY" target="_blank" rel="noreferrer noopener">Tilray shares</a> were up 7.65% at $1.97 at the time of publication, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: iQoncept via Shutterstock.

Movers

TLRY

Tilray Stock Is Trading Higher Tuesday: Here's Why

BMO Capital analyst Jeremy Mccrea maintains Topaz Energy (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TPZ#TSX">TPZ</a>) with a Outperform and raises the price target from C$29 to C$30.

TSX:TPZ

BMO Capital Maintains Outperform on Topaz Energy, Raises Price Target to C$30

The elite group known as the Magnificent Seven faces a decisive market test as four mega-cap tech giants report their latest <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40006542/apple-amazon-microsoft-meta-lead-the-charge-as-investors-bank-on-tech-cheer-for-ral">quarterly earnings this week. </a>
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) will kick things off on Tuesday, reporting its fiscal fourth-quarter 2024 earnings after market close.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) will take the spotlight after the market closes on Wednesday, potentially making for a volatile day as traders assess interest rate moves following the Federal Reserve policy meeting and Fed Chair Jerome Powell&#8216;s press conference.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) will both report their fiscal second-quarter and third-quarter earnings, respectively, on Thursday, after market close.
Collectively, these four giants have a market valuation of nearly $10 trillion, highlighting the significant impact these earnings are expected to have on the markets.
Last week, the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) suffered its worst day since the fund&#8217;s inception, tumbling over 6% on Wednesday. On the same day, both the S&amp;P 500 and the Nasdaq 100 indices had their worst session since late 2022. Magnificent Seven also marked their third consecutive week of declines. 
Also Read: <a href="https://www.benzinga.com/news/earnings/24/07/40018739/apple-analyst-turns-focus-to-apple-intelligence-chinese-market-share-ahead-of-q3-earnings">Apple Analyst Turns Focus To &#8216;Apple Intelligence,&#8217; Chinese Market Share Ahead Of Q3 Earnings</a>
<h3 class="wp-block-heading">What Analysts Expect</h3>
&#8220;Much depends on investor sentiment,&#8221; said David Morrison, senior market analyst at Trade Nation.
According to Morrison, the key questions to address are whether the tech sector has pulled back enough for investors to buy again, regardless of earnings. Additionally, if there are further disappointments, will it trigger another wave of selling, and will funds then shift towards smaller-cap stocks?
&#8220;There's a lot to consider, and that's before factoring in monetary policy meetings from the Federal Reserve, Bank of Japan, and Bank of England, along with the U.S. Non-Farm Payrolls on Friday. This may prove to be a decisive week ahead of the summer's main holiday month,&#8221; he added.
<h3 class="wp-block-heading">Goldman Sachs Predicts Positive Amazon Performance Ahead of Earnings</h3>
Goldman Sachs equity analyst Eric Sheridan highlighted three key debates for investors ahead of Amazon&#8217;s earnings this week.
First, he pointed to the health of the consumer, with Amazon&#8217;s eCommerce business remaining strong in Q2 despite some weakness in the UK and Germany.
Second, Sheridan observed Amazon&#8217;s potential to boost operating income margins, with expected outperformance driven by higher retail margins, increased advertising contributions, and robust AWS profitability. 
Third, he addressed the growth trajectory of AWS revenue, anticipating a reacceleration in 2024 as optimization and workload migration challenges turn into tailwinds, alongside rising AI workloads.
Goldman Sachs raised Amazon&#8217;s 12-month price target from $225 to $250, reiterating a Buy rating.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Fiscal Quarter</th>
<th>EPS Estimate</th>
<th>Revenue Estimate</th>
</tr>
</thead>
<tbody>
<tr>
<td>Microsoft Corp.</td>
<td>Q4 2024</td>
<td>$2.93</td>
<td>$64.36B</td>
</tr>
<tr>
<td>Meta Platforms Inc.</td>
<td>Q2 2024</td>
<td>$4.72</td>
<td>$38.3B</td>
</tr>
<tr>
<td>Amazon.com Inc.</td>
<td>Q2 2024</td>
<td>$1.03</td>
<td>$148.6B</td>
</tr>
<tr>
<td>Apple Inc.</td>
<td>Q3 2024</td>
<td>$1.34</td>
<td>$84.4B</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39899280/microsoft-stock-has-further-room-to-run-says-analyst-as-software-giant-remains-on-t">Microsoft Stock Has Further Room To Run, Says Analyst, As Software Giant Remains On Track To Hit $200B Cloud Revenue In 2 Years</a></li>
</ul>
Photo: Shutterstock

Broad U.S. Equity ETFs

Tech

ETFs

AAPL

MAGS

Magnificent 7 Face Pivotal Market Moment As 4 Mega Tech Giants Report Earnings This Week

VBIV

Trading Halt: Halted at 9:15:00 a.m. ET - Trading Halt: Halt News Pending

Lockhart, Texas voters may soon have a say in whether to decriminalize the possession of small amounts of <a href="https://www.benzinga.com/topic/texas-cannabis">cannabis within the city limits</a>.
What Happened: Lockhart City Secretary Julie Bowerman sent a memo on July 23 to the City Council verifying that the Lockhart Freedom Act ballot petition — Mano Amiga Responsible Implementation (MARI) — had successfully collected <a href="https://www.benzinga.com/markets/cannabis/24/05/39085462/marijuana-activists-in-lockhart-texas-collect-enough-signatures-to-place-cannabis-decriminalizat">more than 900 signatures</a> from city voters supporting the proposition before submitting them to the city in late May.
"While this campaign is working to end needless arrests for cannabis possession, keep community members free from the harmful collateral consequences of an arrest and save scarce city resources, we are also working to build community power in Lockhart," <a href="https://drupal-cloudfront.benzinga.com/topic/elle-cross">Elle Cross</a>, MARI's campaign director, said in a release <a href="https://www.kxan.com/news/local/caldwell-county/lockhart-residents-could-vote-on-decriminalizing-marijuana-this-november/">reported</a> on Monday by KXAN, a local NBC outlet. "This policy process is as democratic as it gets, and we're hopeful that this campaign will demonstrate to our community the power we hold as a collective and the future we can build alongside one another."&nbsp;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/40024424/ex-police-officer-turned-cannabis-ceo-calls-for-federal-marijuana-de-scheduling-in-letter-to-har">Ex-Police Officer Turned Cannabis CEO Calls For Federal Marijuana De-Scheduling In Letter To Harris, Trump, Biden</a>
Lockhart City Council's next meeting is scheduled for Aug. 6. Officials with <a href="https://drupal-cloudfront.benzinga.com/topic/cannabis-texas" target="_blank" rel="noreferrer noopener">Ground Game Texas</a>, the advocacy group that has led or supported at least 10 city-based marijuana campaigns <a href="https://www.benzinga.com/topic/texas-cannabis">across the state</a>, confirmed that the city "is on track to put the proposition on the November ballot," noted the outlet.
With the proposition on the <a href="https://www.benzinga.com/topic/2024-election">November 2024</a> ballot, voters will be able to weigh in on whether or not Lockhart will decriminalize the possession of four ounces or less of marijuana within city limits. Lockhart is one of Texas's smallest town with a population of some 15,000.
Meanwhile, advocates are celebrating.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another victory, this time in Lockhart! We are proud to have supported this campaign, and look forward to its historic passage when the people vote yes in November.<a href="https://t.co/ywuP3jWx6l">https://t.co/ywuP3jWx6l</a>
&mdash; Texas Cannabis Collective (@txcannaco) <a href="https://twitter.com/txcannaco/status/1818044927542198555?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h2 class="wp-block-heading">Second City This Month And One More Joins Statewide Effort</h2>
This marks the second Texas city in July wherein signatures were successfully verified for a cannabis decriminalization ballot to be voted on in November. Dallas was <a href="https://www.benzinga.com/markets/cannabis/24/07/39920347/dallas-cannabis-reform-ballot-is-a-go-decriminalization-in-november-elections-would-allow-up-to-">cleared for the ballot</a> on July 25.
Desiree Venable, a Democrat running for a seat in the Texas House, <a href="https://www.benzinga.com/markets/cannabis/24/07/39678834/texas-town-joins-statewide-push-to-decriminalize-cannabis-with-successful-petition">turned in 600 signatures</a> in early July in support of decriminalizing marijuana in&nbsp;Bastrop, a town about 30 miles outside of Austin.
Now Read: 
<ul>
<li><a href="EXCLUSIVE: House Of Kush Partners With Pleasantrees To Bring Legacy Cannabis Genetics To Michigan">Dallas Cannabis Reform Ballot Is A Go: Decriminalization In November Elections Would Allow Up To 4 Ounces Of Weed</a></li>
</ul>
Photo: El Planteo

Cannabis

Government

Regulations

Politics

Legal

Texas Officials Approve Marijuana Decriminalization Initiative In Lockhart For November Ballot

CrowdStrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) shares are trading lower Tuesday. The stock began moving lower late Monday following reports that Delta Air Lines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) would seek compensation from the cybersecurity company for <a href="https://www.benzinga.com/news/24/07/39870313/microsoft-crowdstrike-issue-caused-largest-it-outage-in-history-showing-how-much-we-depend-on-a-hand">last week&#8217;s outage</a>.
What Happened: According to a CNBC <a href="https://www.cnbc.com/2024/07/29/delta-hires-david-boies-to-seek-damages-from-crowdstrike-microsoft-.html">report</a>, Delta has hired attorney David Boies to seek damages from CrowdStrike and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) following an outage earlier this month that led to thousands of flight cancellations.
CrowdStrike shares are down about 33% over the past month after the company took responsibility for a major IT outage that impacted businesses across the world.
Confirming that it was not a security incident or cyberattack, CrowdStrike CEO George Kurtz said the outage was caused by "a defect found in a single content update." 
CrowdStrike shares fell as much as 5% in after-hours trading on Monday. Delta has not filed a lawsuit, but reportedly plans to seek compensation for damages. CNBC reported that the outages cost Delta an estimated $350 million to $500 million.
According to the report, insurance startup Parametrix has estimated that the IT outage resulted in total losses of about $5.4 billion for Fortune 500 companies.
Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40016868/jim-cramer-joins-multiple-analysts-calling-the-bottom-in-crowdstrike-stock"> Jim Cramer Joins Multiple Analysts Calling The Bottom In CrowdStrike Stock</a>
Needham analyst Alex Henderson maintained CrowdStrike with a <a href="https://www.benzinga.com/analyst-stock-ratings">Buy rating</a> on Tuesday and lowered the price target from $425 to $375.
CrowdStrike is not due to report earnings for the second quarter until sometime near the end of August. The company is expected to report earnings of 98 cents per share and revenue of $959.985 million, according to estimates from <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
CRWD Price Action: <a href="http://benzinga.com/quote/crwd" target="_blank" rel="noreferrer noopener">CrowdStrike shares</a> were down 4.02% at $248.40 at the time of publication, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Shutterstock.

CrowdStrike Stock Continues To Slide: What's Going On?

ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) reported better-than-expected second quarter <a href="https://www.benzinga.com/news/earnings/24/07/40013753/on-semiconductor-corp-beats-q2-earnings-and-revenue-estimates">financial results on Monday</a>.
ON Semiconductor reported a fiscal second-quarter 2024 revenue decline of 17.2% year-on-year to $1.74 billion, beating the analyst consensus estimate of $1.73 billion. The adjusted EPS of 96 cents beat the analyst consensus estimate of 92 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
CEO Hassane El-Khoury said, "As reflected by our recent supply agreement with Volkswagen Group, we also continue to strengthen our silicon carbide leadership position in automotive as we ramp production with leading global OEMs in Europe, North America and China."
ON Semiconductor said it expects third-quarter adjusted revenue of $1.70 billion – $1.80 billion, versus the consensus of $1.73 billion. The company sees adjusted EPS of 91 cents to $1.03 versus the consensus of 92 cents.
ON Semiconductor shares gained 11.5% to close at $78.27 on Monday.
These analysts made changes to their price targets on ON Semiconductor following the announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59f1c1bdefacff0001706787/harlan-sur">JP Morgan analyst Harlan Sur</a> maintained ON Semiconductor with a Neutral rating, while raising the price target from $85 to $88.</li>
<li><a href="https://widgets.benzinga.com/analyst-stock-ratings/analyst/60216a57879cba00010f246b/david-williams">Benchmark analyst David Williams</a> maintained the stock with a Buy rating, while increasing the price target from $80 to $90.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58c6ab8eb85e9300015f1ae6/william-stein">Truist Securities analyst William Stein</a> maintained ON Semiconductor with a Buy rating and boosted the price target from $85 to $97.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40029782/us-stocks-close-mixed-ahead-of-big-earnings-fed-decision-investor-optimism-improves-further">US Stocks Close Mixed Ahead Of Big Earnings, Fed Decision: Investor Optimism Improves Further</a></li>
</ul>

ON Semiconductor Analysts Increase Their Forecasts Following Upbeat Earnings

Expanded geographic presence and new LATAM leader will bring proven digital signage solutions to a wider range of businesses seeking an elevated customer experience
LOUISVILLE, Ky., July 30, 2024 (GLOBE NEWSWIRE) -- Creative Realities, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREX#NASDAQ">CREX</a>), a leading provider of digital signage and media solutions, announces its strategic expansion into Mexico and the broader Latin America market, along with the appointment of its new LATAM leader, Julian Arcila. This move marks a significant development in the fast-growing LATAM digital signage market as Creative Realities solidifies a robust presence in the region and further strengthens its footprint across North America.
In recent years, Creative Realities has been engaging with sports and entertainment customers in Latin America. With increasing inquiries from customers about its capabilities in Mexico, the decision to expand was driven by both market demand and the immense growth opportunities within the region.

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

Comments

Calix

News

Latest news for Calix (OTC:CLXLF) Stock