EA Series Trust Draco Evolution AI ETF (ARCA: DRAI)

Latest news for EA Series Trust Draco Evolution AI ETF (ARCA:DRAI)

EA Series Trust Draco Evolution AI ETF

News

Management

BBIO

BridgeBio Appoints Thomas Trimarchi As  President And Chief Operating Officer Effective Immediately

Guidance

HCA Sees FY24 EPS $21.60-$22.80, Up From $19.70-$21.20 vs $20.98 Est.

Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) reported quarterly earnings of $1.26 per share which missed the analyst consensus estimate of $1.34 by 5.97 percent. This is a 16 percent decrease over earnings of $1.50 per share from the same period last year. The company reported quarterly sales of $572.30 million which missed the analyst consensus estimate of $589.41 million by 2.90 percent. This is a 1.98 percent decrease over sales of $583.83 million the same period last year.

Earnings

Earnings Misses

Webster Finl Q2 Adj $1.26 Misses $1.34 Estimate, Sales $572.30M Miss $589.41M Estimate

Canaccord Genuity analyst Brian McNamara maintains SharkNinja (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SN#NYSE">SN</a>) with a Buy and raises the price target from $82 to $90.

Price Target

Analyst Ratings

Canaccord Genuity Maintains Buy on SharkNinja, Raises Price Target to $90

HCA Sees FY24 Revenue $69.75B-$71.75B, Up From $67.75B-$70.25B Prior

Gaming

General

DKNG

DraftKings Plans To Launch Mobile Sports Betting In Washington D.C. Pending Licensure And Regulatory Approvals

Last Thursday, Netflix Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) reported its second quarter financials, reflecting strong growth in advertising and increase in global subscribers. While the Walt Disney Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) and Warner Bros Discovery Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>) are about to launch their streaming bundle, Netflix is staying out of any combinations with its rivals as it succeeded to remain a &ldquo;go-to&rdquo; streaming destination for users.
<h3>Second Quarter Highlights</h3>
For the second quarter ended on June 30th, Netflix reported revenue grew about 17% YoY to&nbsp;$9.56 billion, surpassing LSEG&rsquo;s estimate of&nbsp;9.53 billion, fueled by the boost in average paid memberships.&nbsp;
During the April 1st to June 30th quarter, Netflix gained 8.05 million net paid customers,&nbsp;which translates to YoY growth of 16.5% YoY&nbsp;as it reached&nbsp;a global total of nearly 278 million subscribers.&nbsp;As of 2025, Netflix will no longer reveal such figures as it aims to focus on revenue and operating margin as primary financial metrics, along with engagement in terms of time spent as the best proxy for evaluating customer satisfaction.
Netflix earned&nbsp;a net income of $2.15 billion, or $4.88 per share, which is a significant rise from last year&rsquo;s comparable quarter when it earned $1.49 billion, or $3.29 per share. Earnings per share of $4.88 surpassed LSEG&rsquo;s consensus estimate of $4.74 per share.
<h3>Guidance</h3>
As for the third quarter, Netflix guided for revenue of $9.73 billion, which is below Wall Street&rsquo;s consensus estimates of $9.83 billion.&nbsp;
However, it did&nbsp;increase its&nbsp;full-year revenue guidance as it expects growth of 14% to 15%, compared with previous guidance range between 13% to 15%.&nbsp;Netflix also expects full-year operating margins to grow&nbsp;from previously reported 25% to 26%.
Numbers never tell the whole story.
While it remains on track to achieve its subscriber goals for 2025, Netflix is shifting its focus towards monetizing its ad inventory. As it continues to work on scaling its ad-supporter subscriber base, Netflix believes it will further increase its ad-tier memberships in 2026 and beyond.&nbsp;Co-CEOs Greg Peters and Ted Sarandos also spoke of evolving use of gen-AI in what seems to be a deeper way compared to prior earnings calls. Sarandos also emphasized that AI will merely serve as a tool to serve creators tell better stories and not replace them, while helping users find the content they love. But when it comes to specific plans, Netflix is keeping its cards close to the chest which shouldn&rsquo;t come as a surprise considering that rivals like Disney are working on their streaming platforms in an effort to catch up. Five years since its streaming debut, and even the world&rsquo;s biggest entertainment company like Disney still didn&rsquo;t figure out streaming entirely. While Disney continues trying to figure out Netflix&rsquo;s winning formula, Netflix remains the industry&rsquo;s gold standard.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Entertainment

Markets

NFLX

Netflix's Q2 Results Showcase The Strength Of Its Leadership In Streaming

Warren Buffett&#8217;s Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has reduced its stake in BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), China&#8217;s largest electric vehicle maker, to below 5%, marking a continued shift in focus towards U.S. investments for the Omaha, Nebraska-based conglomerate.
Berkshire recently decreased its holding in BYD to 4.94% from 5.06%, selling 1.4 million H shares at an average price of 246.96 Hong Kong dollars (approximately $31.64) per share, <a target="_blank" href="https://www.wsj.com/business/autos/buffetts-berkshire-hathaway-trims-byd-stake-to-below-5-0191d1fe?mod=business_lead_story" rel="noreferrer noopener">reported </a>The Wall Street Journal.
Dropping below the 5% threshold means Berkshire is no longer required to disclose its sales of BYD stock on the Hong Kong stock exchange.
Following the news, BYD shares fell 3.1% in Hong Kong and 4.7% in Shenzhen on Tuesday. Despite this, Hong Kong-listed shares of BYD have risen about 11% this year, while its China-listed shares are up about 28%.
Berkshire has been gradually reducing its stake in BYD since August 2022, when the shares hit a record high. Initially, Berkshire&#8217;s shareholding exceeded 20%, peaking at nearly 40% in 2008.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39889695/tesla-rival-byd-strengthens-smart-driving-tech-with-former-baidu-executive-report" rel="noreferrer noopener">Tesla Rival BYD Strengthens Smart Driving Tech With Former Baidu Executive: Report</a>
BYD is reportedly poised to significantly increase its market share in the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39617169/byd-set-to-surpass-tesla-in-bev-sales-by-2024-as-china-leads-global-market-growth-report" rel="noreferrer noopener">battery electric vehicle (BEV) sector in 2024</a>.
BYD reported a 21% increase in electric vehicle sales for the second quarter, selling 426,039 EVs from April to June.
In May, Buffett revealed that his late business partner, Charlie Munger, had advocated for the initial investment in BYD.
However, Berkshire now plans to prioritize U.S. investments. Earlier in 2023, Berkshire sold its entire stake in Taiwan Semiconductor Manufacturing Company Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
The report cited Nomura analyst Joel Ying, who noted that intense competition in China&#8217;s EV market likely influenced Berkshire&#8217;s decision to trim its BYD stake.
Price Action: BYDDY shares closed higher by 1.77% at $63.15 on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39863225/tesla-rival-byds-thai-distributor-faces-ongoing-investigation-over-ev-discounts" target="_blank" rel="noreferrer noopener">Tesla Rival BYD&#8217;s Thai Distributor Faces Ongoing Investigation Over EV Discounts</a></li>
</ul>

Equities

Media

BYDDY

Buffett's Berkshire Hathaway Reduces Stake In Tesla Rival BYD Below 5% To Shift Focus To US: Report

Dime Community Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>) reported quarterly earnings of $0.37 per share which missed the analyst consensus estimate of $0.38 by 2.63 percent. This is a 45.59 percent decrease over earnings of $0.68 per share from the same period last year. The company reported quarterly sales of $87.310 million which beat the analyst consensus estimate of $73.449 million by 18.87 percent. This is a 3.66 percent decrease over sales of $90.624 million the same period last year.

Earnings Beats

DCOM

Dime Community Bancshares Q2 2024 Adj EPS $0.37 Misses $0.38 Estimate, Sales $87.310M Beat $73.449M Estimate

WIIM

HCA Healthcare shares are trading higher after the company reported better-than-expected Q2 financial results.

RBC Capital analyst Craig Wong-Pan maintains ResMed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) with a Sector Perform and raises the price target from $200 to $204.

RBC Capital Maintains Sector Perform on ResMed, Raises Price Target to $204

OLLI

Ollie's Partners With Fintech Company Sunbit To Offer A New Co-Branded Visa Credit Card

The Dow Jones index closed higher by more than 100 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#8217;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">BranchOut Food</h3>
<ul>
<li>The Trade: BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) Director Byron Riche Jones <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 41,755 shares at</a> an average price of $0.99. To acquire these shares, it cost around $41,337.</li>
<li>What's Happening: On June 26, Branchout Food announced the pricing of its $1.4 million underwritten public offering of 1.75 million shares of common stock at $0.80 per share.</li>
<li>What BranchOut Food Does: Branchout Food inc is engaged in the development, marketing, sale, and distribution of plant-based, dehydrated fruit and vegetable snacks and powders.</li>
</ul>
<h3 class="wp-block-heading">Innovative Food Holdings</h3>
<ul>
<li>The Trade: Innovative Food Holdings, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/IVFH#OTC">IVFH</a>) Director Denver Johnson Smith <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 350,000 shares at</a> an average price of $1.20. To acquire these shares, it cost around $420,000.</li>
<li>What's Happening: On May 14, the company said revenues in the first quarter fell 5.7% to $15.7 million.</li>
<li>What Innovative Food Holdings Does: Innovative Food Holdings Inc through its subsidiaries is engaged in the distribution of perishables and specialty food products.</li>
</ul>
<h3 class="wp-block-heading">Crown Equity Holdings</h3>
<ul>
<li>The Trade: Crown Equity Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRWE#OTC">CRWE</a>) Marketing/Merger/Acq. Officer Jamie Hadfield <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 5,000 shares</a> at an average price of $0.25. The insider spent around $1,250 to buy those shares. </li>
<li>What's Happening: On June 14, Crown Equity named Ahmad Moradi as the new Chairman of the Board and Chief Strategic &amp; Science Officer.</li>
<li>What Crown Equity Holdings Does: Crown Equity Holdings Inc offers services to companies seeking to become public entities in the United States.</li>
</ul>
<h3 class="wp-block-heading">Aclaris Therapeutics</h3>
<ul>
<li>The Trade: Aclaris Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACRS#NASDAQ">ACRS</a>) 10% owner Braden Michael Leonard <a href="https://www.benzinga.com/quote/ACRS/analyst-ratings">acquired a total of 154,722 shares</a> at an average price of $1.31. The insider spent around $201,808 to buy those shares.</li>
<li>What's Happening: On July 16, Aclaris Therapeutics announced the sale of OLUMIANT royalties and milestones to OMERS Life Sciences for up to $31.5 million.</li>
<li>What Aclaris Therapeutics Does: Aclaris Therapeutics Inc is a clinical-stage biopharmaceutical company that operates in the United States.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39881526/wall-streets-most-accurate-analysts-say-hold-these-3-utilities-stocks-with-over-5-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 5% Dividend Yields</a></li>
</ul>

Long Ideas

Penny Stocks

Insider Trades

Pre-Market Outlook

Trading Ideas

ACRS

CRWE

IVFH

Aclaris Therapeutics And 3 Other Stocks Under $2 Insiders Are Buying

Lockheed Martin Sees FY24 Net Sales $70.5B-$71.5B Vs $72.4B Estimate; Sees Diluted EPS $26.10-$26.60 Vs $27.96 Estimate

HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) reported quarterly earnings of $5.50 per share which beat the analyst consensus estimate of $4.88 by 12.7 percent. The company reported quarterly sales of $17.492 billion which beat the analyst consensus estimate of $17.046 billion by 2.61 percent. This is a 10.28 percent increase over sales of $15.861 billion the same period last year.

HCA Healthcare Q2 2024 Adj EPS $5.50 Beats $4.88 Estimate, Sales $17.492B Beat $17.046B Estimate

KNSA

Kiniksa Pharmaceuticals Q2 2024 GAAP EPS $(0.06), Inline, Sales $108.631M Beat $92.313M Estimate

As of July 23, 2024, two stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">National Fuel Gas Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NFG#NYSE">NFG</a>)</h3>
<ul>
<li>On July 12, Scotiabank analyst Cameron Bean maintained National Fuel Gas with a Sector Outperform rating and raised the price target from $75 to $80. The company's stock gained around 4% over the past month and has a <a href="https://www.benzinga.com/quote/NFG">52-week high of $58.60</a>.</li>
<li>RSI Value: 70.48&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>NFG Price Action: Shares of National Fuel Gas gained 1.4% to close at $58.29 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Cadiz Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDZI#NASDAQ">CDZI</a>)</h3>
<ul>
<li>On July 18, Cadiz said its operating subsidiary ATEC Water Systems, LLC secured three additional sales contracts for iron and manganese filtration systems totaling an expected $1.5 million in sales revenue. The company's stock gained around 20% over the past month and <a href="https://www.benzinga.com/quote/CDZI">has a 52-week high</a> of $4.30.</li>
<li>RSI Value: 71.99</li>
<li>CDZI Price Action: Shares of Cadiz rose 0.3% to close at $3.68 on Monday.</li>
</ul>
Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39881526/wall-streets-most-accurate-analysts-say-hold-these-3-utilities-stocks-with-over-5-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 5% Dividend Yields</a></li>
</ul>

Short Ideas

CDZI

Top 2 Utilities Stocks That Could Sink Your Portfolio This month

Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) reported quarterly earnings of $6.85 per share which beat the analyst consensus estimate of $6.46 by 6.04 percent. The company reported quarterly sales of $18.10 billion which beat the analyst consensus estimate of $17.04 billion by 6.19 percent. This is a 8.43 percent increase over sales of $16.69 billion the same period last year.

Lockheed Martin Q2 2024 Adj EPS $6.85 Beats $6.46 Estimate, Sales $18.10B Beat $17.04B Estimate

Canaccord Genuity analyst William Plovanic maintains Insulet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) with a Buy and maintains $234 price target.

PODD

Canaccord Genuity Maintains Buy on Insulet, Maintains $234 Price Target

Editor&#8217;s Note: This story has been updated with a statement from a Chevrolet spokesperson.
General Motors&#8217; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) <a href="https://www.benzinga.com/news/24/04/38426856/gm-unveils-plans-for-autonomous-driving-unit-cruise-relaunch-after-hiatus-expects-1-7b-in-expenses" target="_blank" rel="noreferrer noopener">autonomous driving unit</a>, Cruise, is abandoning its plans to build the Origin autonomous vehicle and instead focussing on using its next-generation Chevrolet Bolt for autonomous driving operations.
What Happened: Origin is an entirely autonomous vehicle with no manual controls or pedals for which GM had great plans.
However, the production of Origin is no longer in the picture, as per a letter to shareholders from GM CEO Mary Barra. 
&#8220;The Cruise team will also simplify their path to scale by focusing their next autonomous vehicle (AV) on the next-generation Chevrolet Bolt, instead of the Origin. This addresses the regulatory uncertainty we faced with the Origin because of its unique design. In addition, per-unit costs will be much lower, which will help Cruise optimize its resources,&#8221; Barra wrote on Tuesday.
For the first half of 2024, Cruise accrued an operating loss of $1,650 million, 28% significantly higher than the loss of $1,289 million recorded in the corresponding period of last year. GM also spent $583 million on restructuring Cruise in the period.
A Chevrolet spokesperson told <a href="https://pro.benzinga.com/dashboard">Benzinga</a> in a statement that the next generation of the Bolt EV is expected to launch late next year. However, the company has not ascertained when Cruise AVs will shift to that platform, he added.
Why It Matters: During GM's third-quarter earnings call last year, company CEO Mary Barra said the company is working with Honda Motor Co. to bring driverless rides to Tokyo in early 2027 with Origin.
"We'll do that with our Origin, the world's first-ever vehicle purpose-built for autonomous driving on public roads. As Cruise continues to push the boundaries of what AV technology can deliver society, safety is always at the forefront," Barra had said.
However, Cruise went on a downhill roll afterward. The company suspended operations in the U.S. late last year following the involvement of one of its robotaxis in an&nbsp;<a href="https://www.benzinga.com/news/23/10/35052444/self-driving-cruise-car-accident-leaves-pedestrian-trapped-and-injured-in-san-francisco" target="_blank" rel="noreferrer noopener">accident in San Francisco</a>, leading to heightened regulatory scrutiny and the <a href="https://www.benzinga.com/news/24/05/38606510/us-is-currently-sc-ed-ex-cruise-ceo-calls-for-manufacturing-makeover-to-win-over-chinese-auto-rivals">exit of its co-founder </a>and then CEO Kyle Vogt.
The company&nbsp;<a href="https://www.benzinga.com/news/24/04/38155753/cruise-back-on-phoenix-roads-soon-gms-self-driving-unit-reportedly-gears-up-to-resume-robotaxi-testi" target="_blank" rel="noreferrer noopener">resumed manual driving in the city of Phoenix</a>&nbsp;to gather road information earlier this year in April and in Houston and Dallas, Texas in June.
The company also&nbsp;<a href="https://www.benzinga.com/news/24/06/39500635/gm-appoints-marc-whitten-as-new-cruise-ceo-gears-up-for-robotaxi-resumption-amid-tesla-challenge" target="_blank" rel="noreferrer noopener">appointed</a>&nbsp;Marc Whitten&nbsp;as its new Chief Executive Officer (CEO) late last month. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39900392/teslas-fsd-version-12-5-doesnt-support-sunglasses-yet-contrary-to-elon-musks-word">Tesla&#8217;s FSD Version 12.5 Doesn&#8217;t Support Sunglasses Yet, Contrary To Elon Musk&#8217;s Word</a></li>
</ul>
Photo courtesy: Cruise

Tech

GM's Cruise Abandons Pedal-less Origin Autonomous Vehicle, Pivots To Next-Generation Chevrolet Bolt Instead (Updated)

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EA Series Trust Draco Evolution AI ETF

News

Latest news for EA Series Trust Draco Evolution AI ETF (ARCA:DRAI)