Latest news for DermTech (OTC:DMTWQ) Stock

DermTech Inc is an emerging growth molecular diagnostic company. The company is engaged in marketing and developing novel non-invasive genomic tests to aid in the diagnosis of various skin conditions, including skin cancer, inflammatory diseases, and aging-related conditions. While the company generates revenue through laboratory services.

DermTech Inc

Collaboration With Columbia University Aims To Broaden Access To Cellular Therapies And Inform Gene Therapy Conditioning Study

Biotech

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General

ATNM

Actinium Pharmaceuticals Announces FDA Clearance For IND Application To Study Iomab-ACT As Targeted Conditioning Prior To Bone Marrow Transplant In Sickle Cell Disease Patients

Keefe, Bruyette &amp; Woods analyst Jade Rahmani maintains CBRE Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>) with a Market Perform and raises the price target from $100 to $110.

Price Target

Analyst Ratings

CBRE

Keefe, Bruyette & Woods Maintains Market Perform on CBRE Group, Raises Price Target to $110

Barclays analyst Julien Roch maintains Interpublic Gr of Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPG#NYSE">IPG</a>) with a Equal-Weight and lowers the price target from $35 to $34.

Barclays Maintains Equal-Weight on Interpublic Gr of Cos, Lowers Price Target to $34

AMZN

GEHC

GE HealthCare Selects AWS As Strategic Cloud Provider To Develop Foundation Models And Generative AI Applications For Enhanced Medical Diagnostics And Patient Care; Collaboration Aims To Improve Workflow Efficiency, Diagnostic Accuracy, And Equitable Access In Healthcare

Apollo Funds To Acquire Evri, a Leading UK Parcel Delivery Company; No Financial Terms Disclosed

Keefe, Bruyette &amp; Woods analyst Timothy Switzer maintains Pathward Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASH#NASDAQ">CASH</a>) with a Market Perform and raises the price target from $58 to $67.

CASH

Keefe, Bruyette & Woods Maintains Market Perform on Pathward Financial, Raises Price Target to $67

Barclays analyst Julian Mitchell maintains Fortive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) with a Overweight and lowers the price target from $93 to $91.

Barclays Maintains Overweight on Fortive, Lowers Price Target to $91

Bridgeline Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLIN#NASDAQ">BLIN</a>), a global leader in AI-powered marketing technology, announced that a national aftermarket automotive parts retailer has chosen Bridgeline's HawkSearch to power product discovery for its eCommerce website. &nbsp;
The automotive retailer will use HawkSearch to increase sales through the AI-powered Smart Search features. With Smart Search, a customer can type in a concept or question into the search bar and receive improved results.

BLIN

Automotive Retailer Selects Bridgeline's AI-Powered HawkSearch

Keefe, Bruyette &amp; Woods analyst Damon Delmonte reiterates First Busey (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUSE#NASDAQ">BUSE</a>) with a Outperform and raises the price target from $28 to $31.

Reiteration

BUSE

Keefe, Bruyette & Woods Reiterates Outperform on First Busey, Raises Price Target to $31

Safe &amp; Green Holdings Corp. (NASDAQ:<a href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) ("Safe &amp; Green Holdings" or the "Company"),&nbsp;a leading developer, designer, and fabricator of modular structures, is pleased to announce it has received an extension of time, through November 12, 2024, to regain compliance with Nasdaq's Listing Rule 5550(b), which requires a minimum of $2,500,000 stockholders' equity. The Company expects to regain full compliance with the stockholders' equity requirement as a result of the recent private placement, cost-cutting initiatives aimed at achieving positive cash flow in 2024, ongoing debt reduction, and other strategic initiatives underway.

SGBX

Safe & Green Holdings Receives Extension, Through November 12, 2024, To Regain Compliance With Nasdaq's Minimum Stockholders' Equity Requirement

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is making waves again, this time with its <a href="https://www.benzinga.com/topic/artificial-intelligence">latest AI advancements</a>. 
JPMorgan analyst Doug Anmuth highlights Meta&#8217;s release of Llama 3.1 and its expanding AI initiatives as a clear indicator of the company&#8217;s soaring ambitions in the artificial intelligence landscape. 
As Meta gears up for its earnings next week, all eyes are on its capex plans and AI trajectory.
<h2 class="wp-block-heading">Llama 3.1: Meta&#8217;s Game-Changing Open Source Model</h2>
Meta&#8217;s bold move to launch Llama 3.1, &#8220;the largest open-source model,&#8221; marks a significant milestone.
The model promises to be a game-changer, with Meta anticipating it will be an &#8220;inflection point in the industry toward open source models.&#8221; The open-source nature allows developers to run Llama 3.1 at around 50% of the cost compared to closed models like GPT-4o, a move that not only democratizes AI access but also challenges the giants in the space.
<h2 class="wp-block-heading">Meta AI on Track to Dominate</h2>
Anmuth notes, &#8220;Meta AI is on track to become the most-used AI assistant by year-end—or even a few months earlier,&#8221; emphasizing its rapid scale and integration into Meta's massive ecosystem of over 4 billion users.
The AI is now available in seven new languages and Latin American countries, featuring enhancements like &#8220;Imagine me&#8221; for AI-generated images and creative editing functions.
<h2 class="wp-block-heading">Open Source Strategy: A Shot at Innovation</h2>
The push towards open-source AI reflects a strategic pivot, aligning with Meta&#8217;s philosophy against the restrictive nature of &#8220;closed platforms,&#8221; which Anmuth states can &#8220;stifle innovation.&#8221; This move underscores Meta&#8217;s intent to avoid the constraints it has faced with mobile platforms, notably from giants like Apple Inc.
<h2 class="wp-block-heading">Llama 4 and Beyond: Planning for the Future</h2>
Looking ahead, Meta is not resting on its laurels. Llama 4 is already on the horizon, with the company planning &#8220;compute clusters and data trajectories&#8221; for future iterations up to Llama 7.
Such foresight ensures Meta remains at the forefront of AI innovation, and investors are keenly aware of the &#8220;heavy investments needed to support AI ambitions over the long term.&#8221; Meta's capex intensity could see a leap, with potential guidance for 2024-2025 possibly reaching $50 billion.
<h2 class="wp-block-heading">Meta&#8217;s Vision: Custom AI for Everyone</h2>
Meta&#8217;s ultimate vision is for every small business, creator, and user to create custom AI agents, aiming for a future where hundreds of millions of assistants are just a few clicks away. By leveraging AI to enhance engagement, ad targeting, and creative tools, Meta seeks not just to keep pace but to redefine the future of AI.
<h2 class="wp-block-heading">Rating: Overweight</h2>
As Meta heads into earnings on July 31, Anmuth&#8217;s insights suggest that the tech giant&#8217;s AI ambitions, embodied by Llama 3.1, are more than just another venture—it's Meta's declaration of leadership in the AI realm.
The company's commitment to open source could be the catalyst that not only boosts its stock but also reshapes the industry&#8217;s landscape.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39951461/markets-are-sounding-an-alarm-peter-schiff-warns-federal-reserve-should-cut-rates-b"> &#8216;Markets Are Sounding An Alarm:&#8217; Peter Schiff Warns Federal Reserve Should Cut Rates Before Recession Hits</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Long Ideas

Tech

Trading Ideas

Meta Platforms AI Ambitions Soar With Llama 3.1: An 'Inflection Point In The Industry'

Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) is quietly becoming a crucial player in <a href="https://www.benzinga.com/topic/artificial-intelligence">the AI industry</a>.
What Happened: This original equipment manufacturer (OEM) is catching investor attention thanks to its strategic partnership with Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). 
Fabrinet, based in the Cayman Islands, is known for its state-of-the-art optical connections and networking cables. It recently became a vital partner within Nvidia's data center operations.
With AI applications demanding increasingly high data rates, Fabrinet&#8217;s role in producing cutting-edge optical communication products has become indispensable. Datacom revenues, 42% of Fabrinet&#8217;s quarterly sales, surged by 150% year-over-year. This illustrates the significant impact of the Nvidia partnership on Fabrinet&#8217;s bottom line.
Risks: Nvidia, a significant customer, is moving towards copper-based solutions for its latest GPUs.
Nvidia&#8217;s recent transition could impact Fabrinet&#8217;s core business — providing optical communication products. 
Such a shift may reduce the demand for Fabrinet's high-precision optical components, potentially affecting its revenue streams from the data center segment. 
While Fabrinet&#8217;s diversified portfolio and strong foothold in the AI sector provide a buffer, any substantial decrease in orders from Nvidia could put pressure on the company&#8217;s growth trajectory and financial performance.
Read Also: <a href="https://www.benzinga.com/insights/news/24/07/39732422/heres-how-much-you-would-have-made-owning-fabrinet-stock-in-the-last-10-years">Here&#8217;s How Much You Would Have Made Owning Fabrinet Stock In The Last 10 Years</a>
Why It Matters: So far, Fabrinet's financial trajectory has been nothing short of impressive. The company&#8217;s revenues have expanded from $700 million in 2014 to $2.8 billion today.
Despite operating with relatively thin gross margins, Fabrinet has maintained healthy operating margins of about 10%.
Stock performance is equally noteworthy. Shares soared over 80% this past year, a feat that outpaces both the broader market and the tech sector. The broad market S&amp;P 500 index has gained just over 19% and the tech sector tracking Nasdaq-100 has gained just over 23%, in the past year.
This stellar rise has made Fabrinet a darling of small-cap ETFs, including the iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>) and the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) where it ranks as a top holding.
<h3 class="wp-block-heading">Why Investors Should Watch Fabrinet</h3>
Fabrinet is more than a manufacturing giant; it's an under-the-radar AI play with significant growth potential. As the company continues to ride the AI wave, its partnership with Nvidia offers a compelling growth narrative that positions Fabrinet as a key player in the AI and data center arenas. 
Investors looking for exposure to AI-driven growth should keep a keen eye on this emerging powerhouse.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39948408/googles-mojo-is-back-says-wedbush-analyst-dan-ives-sees-more-upside-for-alphabet-stock">Google&#8217;s &#8216;Mojo&#8217; Is Back, Says Wedbush Analyst Dan Ives, Sees More Upside For Alphabet Stock</a></li>
</ul>

NVDA

Fabrinet: The AI Secret Weapon Powering Nvidia's Data Center Boom

Vice President Kamala Harris, who is widely seen as the likely Democratic nominee, is expected to face a tough contest against Donald Trump, according to the results of a new poll released on Wednesday.
The Matchup: In a hypothetical <a href="https://edition.cnn.com/2024/07/24/politics/cnn-poll-kamala-harris-donald-trump/index.html?iid=cnn_buildContentRecirc_end_recirc">matchup</a> between Trump and Harris, the former prevailed by a 49%-46% margin among registered voters, but his lead was within the survey&#8217;s margin of error.
The poll commissioned by CNN was conducted by SSRS, from July 22-23, among a random national sample of 1,631 registered voters who participated in previous CNN polls in April or June.
Incidentally, Harris performed relatively better than President Joe Biden, who trailed by six percentage points in a head-to-head matchup with Trump in the April and June polls.
See Also: <a href="https://www.benzinga.com/news/24/07/39950334/anthony-scaramucci-flags-demographic-data-causing-jitters-in-trumps-campaign-calls-harris-a-competen">Anthony Scaramucci Flags Demographic Data Causing Jitters In Trump&#8217;s Campaign, Calls Harris A &#8216;Competent Steward Of The American Century&#8217;</a>
Trump Holds Onto Support: The poll found that Trump retained the support of 92% of the respondents who backed him in the April and June polls, while Harris retained the support of a steeper 95% of Biden supporters. Those who previously said they would support neither Biden nor Trump in a two-way matchup were split 30%-27% in favor of Harris.
Another encouraging finding was that half of those who backed Harris said their vote was in support of her rather than a vote against Trump. &#8220;That's a dramatic shift compared with the Trump-focused dynamic of the Biden-Trump race,&#8221; CNN said. In the June poll, merely 37% said their vote was mainly to express support for the president.
74% of Trump supporters said their vote was more in support of the ex-president rather than a vote against Harris. This proportion marked an improvement from the 66% scored in the June poll. The report noted that the June poll was done ahead of the<a href="https://www.benzinga.com/government/24/07/39911075/secret-service-director-kimberly-cheatle-resigns-following-trump-assassination-attempt-congressional"> assassination attempt on Trump </a>and the formal announcement of him as the Republican party&#8217;s nominee at the party convention.
Despite Trump&#8217;s opponent changing, his support among his strongest groups held steady, with 67% of White voters without degrees backing him and 53% of men throwing their weight on him, the poll found. This is almost flattish with the 66% and 54% he had in June when matched up with Biden.
Harris&#8217; Support Base: The affirmative support for Harris came from groups that &#8220;typically break for Democrats but had been seen as trouble spots for the Biden campaign,&#8221; the pollster said. Out of the Harris supporters younger than 45, 43% said their vote is more in support of her than against Trump, compared to 28% of Biden voters in that age group who felt the same way about the president in June.
57% of Black voters said their vote was for Harris than against Trump, up from the 48% support Biden got in June. Among women, 54% said their vote for Harris was more for her than against Trump, up from 43% Biden scored.
Democrats&#8217; standing among independents improved as 46% backed Trump compared to 43% who said they backed Harris. In prior polls, the tally was 47% for Trump and 37% for Biden. Harris also commanded more support among Democrats with 90% favoring her as opposed to 81% who favored Biden in previous polls.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a></li>
</ul>
Image Via Shutterstock

Politics

Media

Trump Vs. Harris: New Poll Shows Close Race, But Vice President Could Benefit From 'Dramatic Shifts' Among These Key Voter Groups

Southwest Airlines Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) shares are trading lower after the airlines <a href="https://www.benzinga.com//node/39953167">reported second-quarter 2024 results.</a>
LUV reported operating revenue increase of 4.5% year-over-year to $7.354 billion, beating the consensus of $7.32 billion.
Bob Jordan, President, Chief Executive Officer, &amp; Vice Chairman of the Board of Directors, stated, &#8220;Our second quarter performance was impacted by both external and internal factors and fell short of what we believe we are capable of delivering.&#8221;
Adjusted EPS was $0.58, down from $1.19 last year, <a href="https://www.benzinga.com/earnings">above the consensus $0.51.</a>
The airline&#8217;s adjusted operating income fell 54.5% to $405 million, operating expenses increased by 13% YoY to $6.95 billion.
LUV&#8217;s unit revenue declined 3.8% YoY, driven primarily by industry-wide domestic capacity growth outpacing demand.
Revenue passenger miles increased 7.6% Y/Y, Available seat miles were up 8.6% Y/Y, and load factor was 82.6% compared to 83.4% last year.
CASM-X increases by 6% Y/Y, attributable to anticipated cost increases, most notably market-driven rate inflation in salaries, wages, and benefits, and higher maintenance expenses.
Fuel costs were $2.76 per gallon (+6.2% Y/Y), which aligned with the company&#8217;s expectation and included $0.087 per gallon in premium expenses and $0.04 per gallon in favorable cash settlements. Fuel efficiency improved by 1.1% Y/Y.
The Dallas-based company had a net cash position of $2 billion and an adjusted debt-to-invested capital ratio of 46% as of June-end. LUV&#8217;s liquidity stood at $11 billion, more than the debt outstanding of $8 billion.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39950645/southwest-airlines-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-ear" rel="noreferrer noopener">Southwest Airlines Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>
Southwest Airlines&#8217; cash used in operating activities for the quarter stood at $(23) million, compared to cash provided of $1.416 billion a year ago.
&#8220;We are taking urgent and deliberate steps to mitigate near-term revenue challenges and implement longer-term transformational initiatives that are designed to drive meaningful top and bottom-line growth,&#8221; Bob Jordan, President, Chief Executive Officer, &amp; Vice Chairman of the Board of Directors, stated.
&#8220;As we announced this morning, our <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39952102/southwest-airlines-launches-enhancements-to-transform-customer-experience-and-improve-financial-pe" rel="noreferrer noopener">implementation of assigned and premium seating</a> is part of an ongoing and comprehensive upgrade to the Customer Experience, one that research shows Customers overwhelmingly prefer,&#8221; added Jordan.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39891082/southwest-airlines-saved-by-procrastination-how-32-year-old-software-protected-company-from-microsof" rel="noreferrer noopener">Southwest Airlines Saved By Procrastination: How 32-Year-Old Software Protected Company From Microsoft Outage, CrowdStrike Issues</a>.
Third-quarter 2024 Guidance: Southwest sees RASM flat to down 2% YoY; ASMs up ~2%; CASM-X up 11% to 13% and Economic fuel costs per gallon of $2.60 to $2.70.
The company continues to refine its new revenue management system and optimize network capacity for better long-term performance.
Reaffirmed 2024 Guidance: Southwest sees ASMs up ~4%; CASM-X up 7% to 8%; economic fuel costs per gallon of $2.70-$2.80; and capital spending of ~$2.5 billion.
Price Action: LUV shares are trading lower by 4.59% at $25.39 premarket at the last check Thursday.
Photo via Wikimedia Commons

Earnings

Equities

Large Cap

Guidance

Movers

Southwest Airlines' Q2 Earnings Plummet, CEO Promises Transformational Changes

Keefe, Bruyette &amp; Woods analyst Kelly Motta reiterates Popular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>) with a Outperform and raises the price target from $110 to $120.

BPOP

Keefe, Bruyette & Woods Reiterates Outperform on Popular, Raises Price Target to $120

Kearny Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRNY#NASDAQ">KRNY</a>) reported quarterly earnings of $0.09 per share which met the analyst consensus estimate. This is a 52.63 percent decrease over earnings of $0.19 per share from the same period last year. The company reported quarterly sales of $32.28 million which missed the analyst consensus estimate of $33.51 million by 3.68 percent. This is a 19.67 percent decrease over sales of $40.18 million the same period last year.

KRNY

Kearny Financial Q4 Adj $0.09, Inline, Sales $32.28M Miss $33.51M Estimate

Barclays analyst Dan Levy maintains Ford Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) with a Overweight and lowers the price target from $17 to $16.

Barclays Maintains Overweight on Ford Motor, Lowers Price Target to $16

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

Cryptocurrency

Markets

ALTS

ALT5 Sigma Corporation Reports $879M Transaction Volume For Q1 And Q2 2024, A 99% YoY Increase; June 2024 Volume Reaches $124M, Up 68% YoY

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) with a Market Perform and raises the price target from $100 to $110.

BOKF

Keefe, Bruyette & Woods Maintains Market Perform on BOK Financial, Raises Price Target to $110

The U.S. economic output experienced stronger-than-expected expansion in the second quarter of the year, highlighting the resilience that has long characterized the economy despite the burden <a href="https://www.benzinga.com/topic/interest-rates">of high interest rates.</a>
The annualized growth rate of the real gross domestic product (GDP) was 2.8% in the second quarter, marking a robust acceleration from the 1.4% growth seen in the first quarter of 2024, according to the advance reading Thursday from the Bureau of Economic Analysis.
<h3 class="wp-block-heading">Q2 GDP Report Key Highlights</h3>
<ul>
<li>The 2.8% growth rate positively surprised economist expectations of a 2% growth, as tracked by Tradingeconomics. </li>
<li>The Personal Consumption Expenditure (PCE) price index slowed from 3.4% in the first quarter to 2.6% in the second quarter, indicating falling price pressures.</li>
<li>The Core PCE price index, which excludes energy and food items, eased from 3.7% in the first quarter to 2.9% in the quarter ending June, above the expected 2.6%. </li>
<li>The acceleration in&nbsp;real GDP&nbsp;in the second quarter primarily reflected an upturn in private inventory investment and an acceleration in consumer spending.</li>
<li>Looking at the major contributions to growth, consumer spending grew at 2.3% annualized rate, accelerating from 1.5% in the previous quarter. </li>
</ul>
<h3 class="wp-block-heading">Weekly Unemployment Claims Report</h3>
Simultaneously, the Labor Department reported a drop in weekly unemployment claims for the week ending July 20. Initial claims fell from 245,000 to 235,000, below the predicted decline to 238,000.
The four-week average of weekly jobless claims — which smooths out week-on-week volatility — held broadly steady.
Continuing claims inched down from 1.86 million to 1.851 million.
<h3 class="wp-block-heading">Market Reactions</h3>
The U.S. dollar index, as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.1% minutes after the economic data releases Thursday. 
Prior to the data, markets had assigned a full likelihood of Fed interest rate cut in September.
Futures on major U.S. indices trimmed losses after the GDP data. Contracts on the Nasdaq 100 were flat by 8:36 a.m. ET, while those on the S&amp;P 500 were 0.1% higher.
On Wednesday, the tech-heavy index, as tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) suffered its worst day since October 2022. 
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39943580/nasdaq-100-notches-worst-session-since-late-2022-falls-below-key-50-day-moving-average-is-the-ai">Nasdaq 100 Notches Worst Session Since Late 2022, Falls Below Key 50-Day Moving Average: Is The AI Tech Bubble Bursting?</a></li>
</ul>
Photo via Shutterstock.

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DermTech

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Latest news for DermTech (OTC:DMTWQ) Stock