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BP Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>) has secured funding to advance the development of a groundbreaking green hydrogen plant at its Lingen refinery, marking the first fully owned and operated green hydrogen facility by the U.K. oil major.
The project is poised to significantly contribute to Germany&#39;s ambitious energy transition plans by reducing the reliance on natural gas and coal.
The innovative hydrogen plant will utilize a 100-MW electrolyzer capable of producing 10-11 kilotons of green hydrogen annually. This hydrogen will be generated through the electrolysis of water using renewable electricity, primarily sourced through an offshore wind power purchase agreement.
The green hydrogen produced will be utilized at BP&#39;s Lingen refinery and supplied to local industries, including steel and chemical producers, aiding in the decarbonization of their production processes.
The project, which was initially outlined in 2020 in collaboration with Orsted A/S, has now been expanded to a 100-MW capacity. Although Orsted has since withdrawn, BP has proceeded with the development, receiving vital funding from the Lower Saxony regional government and Germany&#39;s Economy Ministry. This support is part of the European Union&#39;s IPCEI Hy2Infra initiative, aimed at fostering the hydrogen economy across Europe.
The green hydrogen initiative at Lingen is a milestone for BP and the broader energy sector in Germany. By replacing traditional fossil fuels with green hydrogen, the project will contribute to a cleaner, more sustainable energy future. This aligns with Germany&#39;s broader objectives to pivot away from natural gas and coal, thereby supporting industrial decarbonization.
BP&#39;s green hydrogen project at Lingen surpasses similar projects, such as Shell Plc&#39;s SHEL Rheinland refinery, which launched a 10-MW electrolyzer in 2021. Shell aims to become a top supplier of green hydrogen for industrial and transport customers in Germany.
Additionally, BP is exploring green hydrogen production at its Castellon refinery in Spain, further emphasizing its commitment to sustainable energy solutions. With a history spanning more than 70 years, BP&#39;s Lingen refinery has been a cornerstone of energy supply for the German industry. The transition to green hydrogen marks a new chapter in its legacy, positioning BP at the forefront of the energy transition in Germany and Europe.
BP&#39;s Lingen green hydrogen project is set to play a crucial role in developing a hydrogen economy, serving as a building block for a sustainable energy transition. As Germany and Europe strive to reduce carbon emissions and enhance energy security, initiatives like BP&#39;s green hydrogen plant at Lingen will be instrumental in shaping a cleaner and greener future.
<h3>Zacks Rank &amp; Stocks to Consider</h3>
Currently, BP carries a Zacks Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked companies mentioned below. The companies presently sport a Zacks Rank #1 (Strong Buy).
Sunoco LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>) is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes more than 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value and Growth Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
SM Energy&nbsp;Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sm#NYSE">SM</a>) is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company&#39;s attractive oil and gas investments should create long-term shareholder value.
The Zacks Consensus Estimate for SM&#39;s 2024 and 2025 earnings per unit is pegged at $7.15 and $8.79, respectively. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2025 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2303662/bp-secures-funding-for-advanced-green-hydrogen-plant-in-germany?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2303662">To read this article on Zacks.com click here.</a>

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BP Secures Funding for Advanced Green Hydrogen Plant in Germany

Cantor Fitzgerald analyst C J Muse maintains Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) with a Overweight, adjusts target to $200 from $2000 (10-1 Stock Split).

Price Target

AVGO

Cantor Fitzgerald Maintains Overweight on Broadcom, Adjusts Price Target To $200 (10-1 Stock Split)

First Community (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) reported $16.34 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.5%. EPS of $0.42 for the same period compares to $0.43 a year ago.
The reported revenue represents a surprise of +5.94% over the Zacks Consensus Estimate of $15.42 million. With the consensus EPS estimate being $0.37, the EPS surprise was +13.51%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company&#39;s financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock&#39;s price performance.
Here is how First Community performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
<ul>
<li>Net Interest Margin (taxable equivalent): 2.9% versus 2.8% estimated by two analysts on average.</li>
<li>Efficiency Ratio: 72.8% versus the two-analyst average estimate of 73.7%.</li>
<li>Total Non-Interest Income: $3.64 million versus the two-analyst average estimate of $3.20 million.</li>
<li>Shares of First Community have returned +16.7% over the past month versus the Zacks S&amp;P 500 composite&#39;s +4.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.</li>
<li><a href="https://www.zacks.com/stock/news/2303587/first-community-fcco-reports-q2-earnings-what-key-metrics-have-to-say?cid=CS-BENZ-FT-fundamental_analysis|nfm-2303587">To read this article on Zacks.com click here.</a></li>
</ul>
&nbsp;

FCCO

First Community Reports Q2 Earnings: What Key Metrics Have to Say

NICE (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nice#NASDAQ">NICE</a>) shares have gained 9% in the past month, outperforming the Zacks Internet Software industry&#39;s decline of 0.1%.
The upside can be attributed to NICE&#39;s strong growth prospect. It boasts an innovative portfolio with growing adoption of solutions like Actimize, Evidencentral, Inform Elite and CXone. The company&#39;s focus on its cloud offerings, particularly its CXone platform, has been a major growth driver.
In the first quarter of 2024, NICE reported cloud revenues of $468.4 million, up 27% year over year. It witnessed a remarkable 200% year-over-year increase in AI deals in first-quarter 2024, highlighting the increasing demand for AI-driven CX solutions.
NICE&#39;s efforts to enhance its customer base on the back of its robust cloud solutions is a key catalyst. It has more than 25K customers with more than 85% of Fortune 100 customers.
For 2024, cloud revenues are expected to grow roughly 18% or more. NICE&#39;s continuous investments in the global expansion of its cloud platform will help its aim of reaching 75% cloud gross margin in the next three to five years, which reflects the benefits of an innovative portfolio.
<h3>Robust Portfolio Boosts NICE&#39;s Prospects</h3>
NICE&#39;s policy of frequently updating its portfolio has been a key catalyst as it helps in fending off competitors from other industry players like Five9 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fivn#NASDAQ">FIVN</a>), Salesforce and 8X8 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eght#NASDAQ">EGHT</a>).
<h3>YTD Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/85/71652.jpg?v=1171355687" />
Image Source: Zacks Investment Research
These competitors have also been extending their offerings in the CX market. Five9 recently announced an enhanced collaboration with Salesforce, integrating AI-powered solutions to improve customer experiences in contact centers. In February, 8x8 launched 8x8 Engage, an AI-powered solution that facilitates cross-organization customer engagement.
NICE launched CXone Mpower, integrating Copilot, Autopilot and Actions into a CX-aware AI platform in June.
NICE Actimize is advancing with its upcoming IFM (Integrated Fraud Management) version 11, integrating AI throughout the fraud management lifecycle to enhance accuracy, agility, and operational efficiency through intelligent orchestration and network analytics powered by GenAI.
It has launched the next generation of Enlighten Copilot designed specifically for supervisors and CX decision-makers powered by purpose-built AI.
A deepening partnership with Microsoft&nbsp;is noteworthy. NTR-X Compliance Recording and Assurance Solution has secured transactable solution status in Microsoft&#39;s Azure Marketplace.
<h3>Strong Liquidity Position</h3>
NICE has expanded its share repurchase program, with its board of directors approving a new $500 million program. It plans to accelerate share buyback under the current $300 million program.
The latest program reflects NICE&#39;s commitment to continuously improve shareholders&#39; returns. Its strong balance sheet makes the capital distribution activity sustainable.
As of Mar 31, 2024, cash and cash equivalents (including short-term investments) were $1.5 billion. In the first quarter of 2024, NICE generated $254.5 million of net cash from operations.
In the trailing 12 months ending Mar 31, 2024, net cash from operations was $621 million, with free cash flow of $537.5 million providing ample liquidity.
<h3>Estimate Revisions Are Positive</h3>
For second-quarter 2024, NICE projects non-GAAP revenues between $657 million and $667 million, indicating 14% year-over-year growth at the midpoint. Non-GAAP earnings are estimated in the $2.53-2.63 per share band, suggesting a 21% year-over-year rise at the midpoint.
The Zacks Consensus Estimate for revenues is pegged at $662.88 million, indicating 14.07% growth year over year. The consensus mark for earnings is pegged at $2.58 per share, up 0.8% over the past 60 days, indicating a 21.13% year-over-year increase.
<h3>Estimate Revision</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/51/71653.jpg?v=2099800903" />
Image Source: Zacks Investment Research
For 2024, total revenues are expected to grow between 14% and 15% to $2.72-$2.74 billion. NICE expects earnings between $10.53 and $10.73 per share, indicating year-over-year growth in the 20-22% range.
The Zacks Consensus Estimate for revenues is pegged at $2.73 billion, indicating 14.73% growth year over year. The consensus for earnings is pegged at $10.64 per share, up 0.4% over the past 60 days and indicating a 21.05% year-over-year increase.
<h3>Conclusion</h3>
NICE is benefiting from strong momentum across its cloud business, driven by the rising adoption of the CXone platform. Its growth prospect, as indicated by the Growth Style Score of A, is hard to ignore.
The Value Style Score of B also suggests NICE is undervalued at this moment.
However, a challenging macroeconomic environment has been a concern. The shares are trading below the 50-day moving average, indicating a bearish trend.
<h3>NICE Trading Below 50-Day SMA</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9d/71654.jpg?v=1264794969" />
Image Source: Zacks Investment Research
NICE currently has a Zacks Rank #3 (Hold), suggesting that it may be wise to wait for a more favorable entry point in the stock. However, investors who already own the stock may expect the company&#39;s growth prospects to be rewarding over the long term.
<a href="https://www.zacks.com/stock/news/2303586/nice-up-9-in-a-month-how-should-investors-play-the-stock?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2303586">To read this article on Zacks.com click here.</a>

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NICE Up 9% in a Month: How Should Investors Play the Stock?

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, has outlined three key reasons why he believes Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) will reach a new all-time high following the launch of spot <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39546123/what-is-going-on-with-bitcoin-and-ethereum-etfs">Ethereum Exchange-Traded Products</a> (ETPs).
What Happened: Hougan <a href="https://experts.bitwiseinvestments.com/cio-memos/ethereum-etps-and-the-path-to-a-new-all-time-high?utm_medium=email&amp;_hsenc=p2ANqtz-8tzQxlxZIZD8C5wd2Ci79eqi61dhxCap-pUdEDMJ9l_zmID9sc4ldeDtOqaCIAc_rZQNJrHymWptSFxtt4X2UBcE7E4g&amp;_hsmi=315979958&amp;utm_content=315979958&amp;utm_source=hs_email">predicts</a> that by year-end, Ethereum&#8217;s price will surpass its previous record of $5,000, driven primarily by ETP inflows.
He bases this forecast on three structural factors that differentiate Ethereum from Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>):
<ol>
<li>Ethereum&#8217;s Lower Short-Term Inflation Rate: Unlike Bitcoin, which had a 1.7% inflation rate when <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39802931/bitcoin-etfs-in-two-steps-forward-mode-gobble-up-another-300m-in-inflows">its ETPs</a> launched, Ethereum currently has a 0% inflation rate. This balance between new ETH creation and consumption through network activity creates a favorable supply-demand dynamic for price appreciation.</li>
<li>Reduced Selling Pressure from Validators: Ethereum&#8217;s proof-of-stake system doesn&#8217;t require validators to sell ETH to cover operational costs, unlike <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39692540/bitcoin-mining-is-now-as-easy-as-it-was-in-2022">Bitcoin miners</a> who often need to sell newly mined coins. This results in less forced selling pressure on the Ethereum market.</li>
<li>Significant Portion of ETH Supply Locked: Approximately 28% of all ETH is currently staked and unavailable for sale. An additional 13% is locked in decentralized finance smart contracts. With about 40% of the total supply off the market, there&#8217;s potential for increased scarcity and price pressure.</li>
</ol>
<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/24/07/39817200/donald-trump-comments-on-crypto-pivot-if-we-dont-do-it-china-will">Donald Trump Comments On Crypto Pivot: &#8216;If We Don&#8217;t Do It, China Will&#8217;</a>
Hougan anticipates that new Ethereum ETPs will attract around $15 billion in assets over their first 18 months. 
Given these factors and Ethereum&#8217;s current price of approximately $3,400 (about 29% below its all-time high), he finds it difficult to imagine ETH not challenging its previous record.
While Hougan expects some initial market choppiness due to potential outflows from the Grayscale Ethereum Trust (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#OTC">ETHE</a>) as it converts to an ETP, he remains confident in his bullish outlook for Ethereum by the end of the year.
This bullish outlook for Ethereum comes at a pivotal time for the cryptocurrency industry, as market participants eagerly await regulatory clarity and potential ETF approvals. 
Investors and industry leaders will have the opportunity to delve deeper into these topics and explore their implications at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> conference on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39816961/xrp-soars-40-in-a-week-can-this-coin-outpace-ethereum-killer-solana">XRP Soars 40% In A Week: Can This Coin Outpace &#8216;Ethereum Killer&#8217; Solana?</a></li>
</ul>
Image: Shutterstock

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

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$BTC

$ETH

ETHE

Bitwise CIO Matt Hougan: Ethereum To $5,000 In 2024 And $15B In ETF Inflows

EF Hutton analyst Jesse Sobelson maintains American Res (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREC#NASDAQ">AREC</a>) with a Buy and lowers the price target from $5 to $4.

AREC

EF Hutton Maintains Buy on American Res, Lowers Price Target to $4

Highwoods Properties&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hiw#NYSE">HIW</a>) is well-positioned to benefit from the growing demand for its premier office properties concentrated in high-growth Sun Belt markets. Its disciplined capital-recycling program and accretive development projects are other tailwinds. A healthy balance sheet position augurs well for long-term growth. However, competition from other industry players and elevated interest rates pose concerns for the company.
<h3>What&#39;s Aiding HIW?</h3>
Highwoods has a large part of its portfolio concentrated in high-growth Sun Belt markets, and the company is poised to benefit from this portfolio focus. These markets exhibit promising long-term favorable demographic trends and are expected to continue experiencing above-average job growth. HIW also has a well-diversified tenant base that includes several industry bellwethers. These factors are expected to support its rent growth over the long term.
Highwoods is seeing a recovery in demand for its high-quality and well-placed office properties, as highlighted by a rebound in new leasing volume. The company leased 922,167 square feet of second-generation office space in the first quarter of 2024, including 422,889 square feet of new leases.
With the next cycle of office space demand likely to be driven by inbound migration and significant investments announced by office occupiers to expand their footprint in the Sun Belt regions, as well as additional hiring plans in the company&#39;s markets, this REIT is likely to experience healthy demand for its properties, boosting leasing activity. Also, the rise in the number of tenants returning to offices will act as a tailwind.
The company maintains a healthy balance sheet, with no consolidated debt maturities until the second quarter of 2026. As of Apr 16, 2024, it had around $17 million of available cash and $10 million drawn on its $750 million revolving credit facility.
It enjoyed investment-grade ratings of BBB/Baa2 from S&amp;P and Moody&#39;s as of the end of the first quarter of 2024, rendering it access to the debt market at favorable rates. Hence, with sound financial footing, Highwoods seems well-positioned to capitalize on long-term growth opportunities.
<h3>What&#39;s Hurting HIW?</h3>
The overall office demand in some markets is likely to remain subdued in the near term. Further, higher development activities across Highwoods&#39; markets are likely to result in new supply in the upcoming period. This is likely to affect its ability to backfill vacated space and strain occupancy levels of its office properties. Management anticipates average occupancy to lie in the range of 87-89% in 2024. It also expects that occupancy will trough in the first half of next year.
A high interest rate is another concern for HIW. Elevated rates imply high borrowing costs for the company, affecting its ability to purchase or develop real estate. As of Mar 31, 2024, it had a substantial debt burden, and its net debt was approximately $3.31 billion. With high interest rates still in place, the dividend payout may seem less attractive than the yields on fixed-income and money market accounts.
Over the past three months, shares of this Zacks Rank #3 (Hold) company have rallied 22.0% against the&nbsp;industry&#39;s growth of 14.6%. The Zacks Consensus Estimate for Highwoods&#39; second-quarter 2024 FFO per share has decreased marginally over the past month to 90 cents. HIW is slated to release quarterly numbers on Jul 23 after the closing bell.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b2/71650.jpg?v=1189437788" />
Image Source: Zacks Investment Research
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the broader REIT sector are&nbsp;Americold Realty Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cold#NYSE">COLD</a>) and&nbsp;Stag Industrial (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stag#NYSE">STAG</a>), each carrying a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Americold Realty Trust&#39;s 2024 funds from operations (FFO) per share has moved marginally northward over the past month to $1.44.
The Zacks Consensus Estimate for Stag Industrial&#39;s 2024 FFO per share has moved marginally northward over the past week to $2.39.
Note:&nbsp;Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2303585/why-should-you-retain-highwoods-hiw-stock-in-your-portfolio?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2303585">To read this article on Zacks.com click here.</a>

REIT

Real Estate

COLD

STAG

Why Should You Retain Highwoods Stock in Your Portfolio?

UnitedHealth Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unh#NYSE">UNH</a>), the largest U.S. health insurer, reported better-than-expected second-quarter 2024 results as it breezed past the Zacks Consensus Estimate on both earnings and revenues. UNH shares climbed 6.5% on the day following the results.
Investors can tap the opportunity by investing in ETFs having the largest allocation to this health insurance giant. These include iShares U.S. Healthcare Providers ETF (ARCA:IHF), Health Care Select Sector SPDR Fund (ARCA:XLV), iShares U.S. Healthcare ETF (ARCA:IYH), Fidelity MSCI Health Care Index ETF (ARCA:FHLC) and SPDR Dow Jones Industrial Average ETF.
<h3>Earnings in Focus</h3>
Earnings per share came in at $6.80, topping the Zacks Consensus Estimate of $6.65 and increasing 10.7% from the year-ago quarter. Revenues grew 6.4% year over year to $98.9 billion and were above the estimated $98.7 billion. The solid results were powered by strong growth in Optum health care unit.
Optum revenues increased 11.7% to $62.9 billion, driven by the higher number of patients at Optum Health and the increased number of customers using the Optum Rx pharmacy service. UnitedHealthcare revenues rose 5.3% year over year to $73.9 billion, reflecting growth in the number of people served domestically.
Medical ratio (a measure of the percentage of premiums paid out for medical services) deteriorated 190 basis points year over year to 85.1% but came in higher than the Zacks Consensus Estimate of 84.4%.
The health insurer affirmed its 2024 earnings per share guidance in the range of $27.50-$28.00, indicating 10.5% year-over-year growth at the mid-point. Notably, UnitedHealth is among the largest players in the Medicare Advantage market, where private insurers offer an alternative to the original Medicare &mdash; the federal government&#39;s health insurance plan for people aged 65 and older or those with certain disabilities.
<h3>ETFs in Focus</h3>
Let&#39;s delve into each ETF below:
iShares U.S. Healthcare Providers ETF
iShares U.S. Healthcare Providers ETF follows the Dow Jones U.S. Select Healthcare Providers Index with exposure to companies that provide health insurance, diagnostics and specialized treatment. The fund holds 66 securities in its basket. UNH occupies the top position with a 23.8% share.
iShares U.S. Healthcare Providers ETF has amassed $752.3 million in its asset base, while volume is light at about 76,000 shares per day, on average. It charges 40 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
Health Care Select Sector SPDR Fund
Health Care Select Sector SPDR Fund is the most popular healthcare ETF and follows the Health Care Select Sector Index. It holds 63 securities in its basket, with UnitedHealth taking the second spot at 9.1% of the assets. Pharma, healthcare providers &amp; services, and healthcare equipment &amp; supplies take the largest share at 32.5%, 21.2% and 19.7%, respectively, from a sector look.
Health Care Select Sector SPDR Fund has AUM of $40.3 billion in its asset base and trades in a heavy volume of around 6 million shares. The expense ratio comes in at 0.09%. XLV has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
iShares U.S. Healthcare ETF
iShares U.S. Healthcare ETF offers exposure to 107 U.S. healthcare equipment and services, pharmaceuticals, and biotechnology companies by tracking the Russell 1000 Health Care RIC 22.5/45 Capped Gross Index. Here again, UnitedHealth is the second firm, accounting for 8.8% of the total assets. In terms of industrial exposure, pharma takes the top spot at 32.9%, followed by healthcare equipment (18.9%) and biotech (18.2%).
iShares U.S. Healthcare ETF has amassed $3.3 billion in its asset base while charging 40 bps in annual fees. It trades in a good volume of around 205,000 shares a day and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Fidelity MSCI Health Care Index ETF
Fidelity MSCI Health Care Index ETF provides exposure to 369 healthcare stocks and tracks the MSCI USA IMI Health Care Index. UnitedHealth occupies the second position with 7.6% of the assets. Pharma accounts for 29.5% share while healthcare providers and services, healthcare equipment and supplies, and biotech round off the top three spots with double-digit exposure each.
Fidelity MSCI Health Care Index ETF has AUM of $3 billion. Its expense ratio is 0.08%, while volume is good at 119,000 shares a day. FHLC has a Zacks ETF Rank #3 with a Medium risk outlook.
SPDR Dow Jones Industrial Average ETF
SPDR Dow Jones Industrial Average ETF is one of the largest and most popular ETFs in the large-cap space, with AUM of $34.3 billion and an average daily volume of 3 million shares. It tracks the Dow Jones Industrial Average Index, holding 30 stocks in its basket. UNH occupies the top position, accounting for an 8.8% share. Financials (23.3%), information technology (19.4%), healthcare (18.6%), consumer discretionary (14.3%) and industrials (13.9%) are the top five sectors.
SPDR Dow Jones Industrial Average ETF charges 16 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
<a href="https://www.zacks.com/stock/news/2303715/unitedhealth-rises-on-q2-earnings-beat-etfs-to-gain?cid=CS-BENZ-FT-etf_news_and_commentary-2303715">To read this article on Zacks.com click here.</a>

Health Care

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General

FHLC

iShares Dow Jones US Health Care Provides Index Fund

iShares Trust Dow Jones US Healthcare Sector Index Fund

UnitedHealth Rises on Q2 Earnings Beat: ETFs to Gain

Booking Holdings Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bkng#NASDAQ">BKNG</a>) subsidiary OpenTable partnered with Visa (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/v#NYSE">V</a>) to launch The OpenTable &amp; Visa Dining Collection.
The collection provides Visa cardholders with exclusive access to restaurant reservations and events at numerous local restaurants in the United States, Canada and Mexico.
Diners who make their reservations with OpenTable will receive rewards for paying with their Visa cards. Eligible cardholders will also have access to exclusive culinary events featuring rising star chefs.
Booking Holdings is expected to gain solid popularity among Visa cardholders on the back of its latest partnership.
Moreover, it will enable BKNG to capitalize on the solid growth opportunity present in the restaurant reservations software market, which, per a Market Research Intellect report, is expected to hit $24.5 billion by 2031, witnessing a CAGR of 10.13% between 2024 and 2031.
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<h3>Booking Holdings Inc. Price and Consensus</h3>
<img alt="Booking Holdings Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/30/1721223800.png" style="height:272px; width:620px" title="" />
Booking Holdings Inc. price-consensus-chart | Booking Holdings Inc. Quote
</div>
<h3>Competitive Advantage</h3>
This OpenTable-Visa partnership will also place this Zacks Rank #3 (Hold) company at a competitive advantage against players like TripAdvisor (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trip#NASDAQ">TRIP</a>) and Yelp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yelp#NYSE">YELP</a>), which are also making concerted efforts to strengthen their foothold in the restaurant reservations software market.
TripAdvisor is gaining solid momentum across its restaurant booking platform, TheFork. TheFork offers a revenue management tool for restaurant businesses, leveraging its expertise in yield management to optimize reservation management and occupancy rate, increase bookings and visibility, fight no-shows, manage payments and streamline operations while connecting to the broadest community of loyal diners.
Yelp, on the other hand, is benefiting from Yelp Guest Manager, which allows restaurants to communicate and share updates with new and existing customers. It also enables business owners to access their restaurant&#39;s online table management from any device, allowing them to edit reservations and assignments remotely.
<h3>Expanding Partnerships Aid Customer Momentum</h3>
The latest move is in sync with BKNG&#39;s growing efforts to boost its clientele on the back of expanding partnerships, which remains a key growth driver for the company. Its shares have gained 16.7% in the year-to-date period, outperforming the Retail-Wholesale sector&#39;s 13.2% growth.
Booking Holdings&#39; subsidiary, Agoda, partnered with the Taipei City Government Department of Information and Tourism to serve as the Official Accommodation Partner for the World Masters Games (WMG).
Per the terms of the deal, Agoda now offers a dedicated booking page for the WMG, simplifying accommodation searches for competitors and visitors. This partnership will aid Booking Holdings in gaining solid customer momentum in Asia.
Agoda also partnered with DBS to introduce a reward points redemption system for Hong Kong customers, enhancing their access to value travel deals. The deal allows Agoda&#39;s Hong Kong customers holding DBS$ and COMPASS Dollar credit cards to experience a seamless redemption while making hotel payments at the site, allowing insufficient point holders to reduce their booking costs.
This partnership will aid Booking Holdings to gain solid momentum across DBS customers in Hong Kong, further expanding its customer base in Asia.
<h3>Conclusion</h3>
BKNG&#39;s expanding clientele on the back of a growing partner base and its strong competitive position bode well for its near-term growth prospects.
Moreover, its robust product portfolio, strong momentum across the merchant, advertising and other businesses, growing alternative accommodation business and flight capabilities remain positives.
These factors are expected to continue driving the overall financial performance of the company in the near term.
The Zacks Consensus Estimate for 2024 revenues is pegged at $23.09 billion, indicating year-over-year growth of 8.05%.
The consensus mark for 2024 earnings is pegged at $178.54 per share, indicating a 17.3% rise from the year-ago figure. The figure has been revised upward by 0.01% in the past seven days.
<a href="https://www.zacks.com/stock/news/2303699/booking-holdings-bkng-teams-up-with-visa-to-aid-diners?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2303699">To read this article on Zacks.com click here.</a>

Events

BKNG

TRIP

YELP

Booking Holdings Teams Up With Visa to Aid Diners

U.S. stocks traded mixed toward the end of trading, with the S&amp;P 500 falling over 1% on Wednesday.
The Dow traded up 0.53% to 41,173.41 while the NASDAQ fell 2.51% to 18,044.33. The S&amp;P 500 also fell, dropping, 1.24% to 5,597.06.
Check This Out: <a href="https://www.benzinga.com/news/24/07/39814195/amazon-to-rally-around-9-here-are-10-top-analyst-forecasts-for-wednesday">Amazon To Rally Around 9%? Here Are 10 Top Analyst Forecasts For Wednesday</a>
Leading and Lagging Sectors Consumer staples shares jumped by 1.4% on Wednesday.
In trading on Wednesday, information technology shares fell by 3.6%.
Top Headline
Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) reported better-than-expected second-quarter results on Wednesday.
The company posted quarterly net interest income of $4.405 billion, beating the consensus of $4.287 billion. The company reported EPS of $1.55, above the consensus of $1.36.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Aditxt, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTX#NASDAQ">ADTX</a>) shares shot up 36% to $2.17. Aditxt and Evofem amended merger agreement.</li>
<li>Shares of Aehr Test Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) got a boost, surging 25% to $21.09 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>Shimmick Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHIM#NASDAQ">SHIM</a>) shares were also up, gaining 47% to $2.96 after the company received a $27.6 million subcontract for the Sunol Valley Water Treatment Plant Ozonation Project.</li>
</ul>
Equities Trading DOWN
<ul>
<li>ASLAN Pharmaceuticals Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASLN#NASDAQ">ASLN</a>) shares dropped 41% to $0.6611 after the company announced that its Singapore-incorporated, sole operating subsidiary has filed for voluntary liquidation.</li>
<li>Shares of Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) were down 29% to $9.61 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>Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) was down, falling 22% to $79.31 after the company announced a CEO transition. Additionally, comparable sales decreased in the 10-week period ended July 13.</li>
</ul>
Also Check This Out: <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>
Commodities In commodity news, oil traded up 2.5% to $82.75 while gold traded down 0.3% at $2,461.00.
Silver traded down 3.4% to $30.39 on Wednesday, while copper fell 0.9% to $4.4105.
Euro zone
European shares closed mixed today. The eurozone's STOXX 600 fell 0.48%, Germany's DAX fell 0.44% and France's CAC 40 fell 0.12%. Spain's IBEX 35 Index rose 0.13%, while London's FTSE 100 rose 0.28%.
Annual inflation rate in the Eurozone eased to 2.5% in June from 2.6% in May. French current account deficit shrank to EUR 3.1 billion in May versus a revised EUR 3.5 billion in the prior month.
U.K. producer prices increased 1.4% year-over-year in June following a 1.7% rise in the prior month, while annual inflation rate came in steady at 2% in June.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.43%, Hong Kong's Hang Seng Index gaining 0.06% and China's Shanghai Composite Index falling 0.45%.
Singapore&#8217;s non-oil domestic exports fell by 8.7% year-over-year in June following a revised 0.7% decline in May.
Economics
<ul>
<li>U.S. mortgage applications climbed by 3.9% during the third week of July.</li>
<li>U.S. housing starts increased by 3% from the prior month to an annualized rate of 1,314,000 in June compared to a revised 4.6% fall a month ago.</li>
<li>Building permits in the U.S. climbed by 3.4% to an annual rate of 1.446 million in June.</li>
<li>Industrial production in the U.S. climbed 0.6% from a month ago in June compared to market estimates of a 0.3% gain.</li>
<li>U.S. crude oil inventories declined by 4.87 million barrels in the week ended July 12, falling for the third consecutive week, the EIA said.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/07/39813621/how-to-earn-500-a-month-from-dominos-stock-ahead-of-q2-earnings-report">How To Earn $500 A Month From Domino&#8217;s Stock Ahead Of Q2 Earnings Report</a>

Eurozone

Intraday Update

ADTX

AEHR

ASLN

FIVE

SAVA

SHIM

Dow Jumps 200 Points; Synchrony Financial Posts Upbeat Earnings

Chardan Capital analyst Keay Nakae maintains Arrowhead Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) with a Buy and maintains $60 price target.

ARWR

Chardan Capital Maintains Buy on Arrowhead Pharma, Maintains $60 Price Target

Garmin (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grmn#NYSE">GRMN</a>) launched the JL Audio MediaMaster&nbsp;55 and 55-HR next-generation marine and powersports source units.
The MM55 features a 2.8-inch full-color LCD display with larger icons, simplified menus and a refreshed color palette, while the MM55-HR is a versatile helm device that can be mounted in various areas around a boat or vehicle, enhancing its efficiency.
These devices also offer connectivity options like digital AM/FM tuner, DAB+ radio, Bluetooth, analog AUX input and USB connection. With advanced Bluetooth Low Energy technology, users can control the devices using the MediaMaster Remote App or a compatible multifunction display.
Garmin is expected to gain solid traction across anglers, sailors, mariners and boat owners on the back of its newly launched devices.
<div class="chart_embed">
<h3>Garmin Ltd. Price and Consensus</h3>
<img alt="Garmin Ltd. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/9d/1721223059.png" style="height:281px; width:620px" title="" />
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
</div>
<h3>Expanding Marine Portfolio Aid Prospects</h3>
Per a Skyquest report, the global marine electronics market is expected to reach $8.13 billion by 2030, witnessing a CAGR of 5.2% between 2023 and 2030. Garmin is well-positioned to capitalize on this solid growth opportunity on the back of its expanding marine offerings.
Recently, the company introduced the Panoptix PS22-IF Ice Fishing Bundle, a live sonar solution for hardwater anglers. The bundle features an ECHOMAP UHD2 73sv touchscreen combo and two Panoptix sonar modes for ice fishing.
Garmin introduced the Force Kraken trolling motor series, available with a 48-inch shaft length for smaller boat sizes. Its wireless integration with Garmin chartplotters and smartwatches allows for easy route creation and installation of live sonar. Anglers can navigate from anywhere with the included wireless remote, and a compatible Garmin smartwatch can be connected for control.
It also expanded its GPSMAP x3 family with the introduction of GPSMAP 16x3 chartplotters. These chartplotters boast a high-resolution 16-inch touchscreen display with built-in navigation and sonar support, offering superior clarity and sunlight readability, even with polarized sunglasses.
<h3>Portfolio Strength: Key Catalyst</h3>
Garmin shares have rallied 36.5% in the year-to-date period, outperforming the industry&#39;s growth of 13.9%. The company has been riding on its portfolio strength. Hence, expanding marine offerings bodes well for its overall portfolio strength.
Garmin recently added two slimline radios to the GTR 205 COMM radio series for the experimental aviation market. The newly launched GTR 205x and GTR 205xR are all-in-one radios and stereo intercoms with Bluetooth functionality for phone calls and media entertainment. Pilots can stream music, receive calls, view phone numbers, and see device strength and battery life on the panel-mount version.
It expanded its outdoor offerings with the launch of a laser range finder, Approach Z30, to deliver an enhanced experience to golfers with its advanced ranging performance and Range Relay feature.
Garmin also partnered with Alphabet&#39;s Google to bolster its smartwatch offerings.
Per the terms, Alphabet&#39;s YouTube Music app is now available on Garmin IQ Connect smartwatches, allowing users to add playlists and podcasts to their devices.
A strengthening portfolio is expected to continue driving Garmin&#39;s overall financial performance in the upcoming period.
For 2024, Garmin expects total revenues of $5.75 billion. The Zacks Consensus Estimate for 2024 total revenues stands at $5.90 billion, indicating year-over-year growth of 12.9%.
It expects 2024 earnings at $5.40 per share. The consensus mark for 2024 earnings is pegged at $5.77 per share, indicating a 3.2% rise from the year-ago figure. The figure has been revised upward by 0.5% in the past 60 days.
<h3>Zacks Rank &amp; Other Stocks to Consider</h3>
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are PayPal (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pypl#NASDAQ">PYPL</a>) and Badger Meter (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmi#NYSE">BMI</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
PayPal shares have gained 0.7% in the year-to-date period. The long-term earnings growth rate for PYPL is 14.79%.
Badger Meter shares have gained 27% in the year-to-date period. The long-term earnings growth rate for BMI is currently projected at 15.57%.
<a href="https://www.zacks.com/stock/news/2303697/garmin-grmn-expands-marine-portfolio-with-mm55-55-hr-devices?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2303697">To read this article on Zacks.com click here.</a>

GRMN

PYPL

Garmin Expands Marine Portfolio With MM55 & 55-HR Devices

Former White House Communications Director and current CEO of SkyBridge Capital Anthony Scaramucci publicly criticized the Democrats for their handling <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39004550/exclusive-all-you-need-to-know-about-the-fit21-crypto-bill">of cryptocurrency legislation</a>. 
What Happened: Scaramucci, who served under the Trump administration in 2017, expressed his disappointment with the Democrats' failure to enact clear crypto legislation in an exclusive <a href="https://www.coindesk.com/policy/2024/07/17/democrats-have-made-a-horrific-mistake-says-skybridge-capitals-anthony-scaramucci/?_gl=1&#x2A;ksqxmv&#x2A;_up&#x2A;MQ..&#x2A;_ga&#x2A;MTg3NjA4Mjk2NC4xNzIxMjMwNDQ3&#x2A;_ga_VM3STRYVN8&#x2A;MTcyMTIzMDQ0Ni4xLjAuMTcyMTIzMDQ0Ni4wLjAuMjA5MDYxODIwMg">interview</a> with CoinDesk. "The Democrats have made a horrific mistake," he said. "They could have been neutral on crypto or positive on crypto. And I think it would have helped them in the election."
Despite his criticism, Scaramucci continues to support the Democrats. However, he voiced his disapproval of SEC Chair Gary Gensler, calling for his dismissal. He argued that Gensler and Sen. Elizabeth Warren's (D-Mass.) antipathy has been an "unbelievable disaster" for the crypto industry.
Scaramucci also shared his views on Trump&#8217;s pro-crypto stance, stating that if reelected, which has a 70% probability on crypto prediction market Polymarket, the new administration would create a supportive environment for the crypto industry. However, he clarified that while he appreciates Trump&#8217;s pro-crypto position, he is not a "one issue voter."
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39717014/is-a-donald-trump-presidency-the-next-big-catalyst-for-bitcoin">Is A Donald Trump Presidency The Next Big Catalyst For Bitcoin?</a>
Why It Matters: The Democrats&#8217; stance on cryptocurrency has been a contentious issue. Their failure to enact clear legislation has led to uncertainty and instability in the crypto market.
Scaramucci's criticism highlights the need for clear and supportive crypto legislation to foster growth and innovation in the industry. His comments also underscore the political implications of the crypto debate, suggesting that a more positive stance on crypto could have electoral benefits.
He concluded that he sees himself having "Trump reality syndrome" and Trump lacking intellectual curiosity. He added, "these think tanks that are working alongside of him want to build his transition into the first few years of his presidency as a dystopian."
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39817200/donald-trump-comments-on-crypto-pivot-if-we-dont-do-it-china-will">Donald Trump Comments On Crypto Pivot: &#8216;If We Don&#8217;t Do It, China Will&#8217;</a></li>
</ul>
Image: Shutterstock

Anthony Scaramucci Will Not Vote For Donald Trump Despite The Latter's Crypto Pivot: Report

TD Cowen analyst Andrew Charles maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Hold and lowers the price target from $19 to $17.

TD Cowen Maintains Hold on Wendy's, Lowers Price Target to $17

Vale S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vale#NYSE">VALE</a>) reported iron ore production of 80.6 million tons (Mt) for the second quarter of 2024, which was up 2% year over year, attributed to improved operating performance at the S11D and Vargem Grande.
During the quarter, the S11D mine delivered record production of 19.5 Mt, bolstered by ongoing asset reliability initiatives.
Pellet production declined 2.4% year over year to 8.9 Mt. This was attributed to lower pellet feed availability at the Vargem Grande plant and maintenance at the S&atilde;o Luis plant.
Iron ore fines sales improved 8.2% from the year-ago quarter to 68.5 Mt while pellet sales were up 0.6% to around 8.9 Mt. Total iron ore sales were up 7.3% to 79.8 Mt, reflecting higher shipments, as well as the sale of inventories from prior periods.
The average realized iron ore fines price was $98.2 per ton in the June-ended quarter, down 0.3% year over year and 2.5% sequentially, due to lower iron ore prices.
<h3>Copper Output Dips, Nickel Plunges</h3>
In the second quarter, Vale produced 78.6 kt of copper, which was 0.3% lower than the year-ago quarter. Improved productivity at Salobo&#39;s 1 &amp; 2 plants, as well as Sossego, were offset by the bi-annual maintenance in Sudbury.&nbsp;
Vale sold 76.1 kt of copper, which was up 3% from the year-ago quarter, reflecting sales from its inventory despite lower production.&nbsp;
The average realized price for copper operations only (Salobo and Sossego) was $9,202 per ton, up 31% year over year and 19.7% on a sequential basis due to higher LME prices. The average realized copper price for all operations (including copper sales originating from nickel operations) was $9,187 per ton.
Production of nickel plunged 24% year over year to 27.9 kt in the April-June 2024 period. This reflects the impact of the planned maintenance strategy at the nickel processing plants.&nbsp;
Nickel sales were recorded at 34.3 kt, down 15% from the year-ago comparable quarter&#39;s figure due to lower production figures. The average realized nickel price was $18,638 per ton, down 19% compared with $23,070 per ton in the year-ago quarter. This was in line with the decrease in LME nickel reference prices.
<h3>Guidance for 2024</h3>
The company&#39;s iron ore production guidance for 2024 is in the range of 310-320 Mt. Vale had produced 321 Mt of iron ore in 2023. Pellet production is projected to be between 38 Mt and 42 Mt, higher than the figure of 36.5 MT in 2023.
Vale expects to produce copper in the range of 320-355 kt. The company&#39;s copper output in 2023 was reported at 326.6 kt.
Vale expects nickel production to be between 160 kt and 175 kt. In 2023, the total production of nickel was recorded at 164.9 kt.
<h3>Peer Performances</h3>
Rio Tinto (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) reported a 2% decrease in its second-quarter (ended Jun 30, 2024) iron ore production to 79.5 MT (on a 100% basis) as ore depletion offset productivity gains. A train had derailed in mid-May at its Western Australia iron ore operations, which led to six days of lost rail capacity and full stockpiles at some mines, impacting production for the quarter. Copper production was 171 thousand tons, 18% higher than the year-ago quarter.
RIO&#39;s shipments for the quarter (on a 100% basis) were reported at 80.3 Mt, which were down 2% year over year. The company expects Pilbara iron ore shipments (100% basis) to be between 323 Mt and 338 Mt in 2024. The range indicates a year-over-year decline of 3% to growth of 2%.
BHP Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) announced that its iron ore production rose 6% year over year to 69.2 Mt in the fourth quarter of fiscal 2024 (ended Jun 30, 2024), aided by record production at Western Australia Iron Ore as a result of strong underlying performance at the mines and the benefits of the Port Debottlenecking Project 1. Copper output improved 6% year over year to 504.9 kt.&nbsp;
BHP&#39;s iron ore production for fiscal 2024 was a record 260 Mt and copper production was 1,865 kt, the highest in 15 years.
<h3>Price Performance</h3>
Shares of Vale have lost 18.1% in a year, in line with the industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3d/71668.jpg?v=29781560" />
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; A Stock to Consider</h3>
Vale currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the Basic Materials space is Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), which currently sports a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2024 earnings indicates year-over-year growth of 281.6%. CRS beat the consensus estimate in each of the last four quarters, the average earnings surprise being 15.1%. The company&#39;s shares have soared 109% in the past year.
<a href="https://www.zacks.com/stock/news/2303694/vale-s-q2-iron-ore-output-up-2-y-y-copper-and-nickel-lags?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2303694">To read this article on Zacks.com click here.</a>

Guidance

VALE

VALE's Q2 Iron Ore Output Up 2% Y/Y, Copper and Nickel Lags

Telsey Advisory Group analyst Joseph Feldman maintains Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) with a Outperform and lowers the price target from $155 to $120.

Telsey Advisory Group Maintains Outperform on Five Below, Lowers Price Target to $120

Whales with a lot of money to spend have taken a noticeably bearish stance on Charter Communications.
Looking at options history for Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 10% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $197,400 and 4, calls, for a total amount of $244,150.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $230.0 to $400.0 for Charter Communications over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Charter Communications options trades today is 496.86 with a total volume of 138.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Charter Communications's big money trades within a strike price range of $230.0 to $400.0 over the last 30 days.
<h3>Charter Communications Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721241058_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$16.0</td>
<td>$15.1</td>
<td>$16.0</td>
<td>$400.00</td>
<td>$160.0K</td>
<td>2.7K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CHTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$5.3</td>
<td>$5.0</td>
<td>$5.2</td>
<td>$230.00</td>
<td>$43.1K</td>
<td>237</td>
<td style="text-align: right;">54</td>
</tr>
<tr>
<td>CHTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.3</td>
<td>$4.4</td>
<td>$5.2</td>
<td>$230.00</td>
<td>$37.4K</td>
<td>237</td>
<td style="text-align: right;">54</td>
</tr>
<tr>
<td>CHTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$31.6</td>
<td>$30.6</td>
<td>$31.6</td>
<td>$330.00</td>
<td>$34.7K</td>
<td>10</td>
<td style="text-align: right;">40</td>
</tr>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$66.9</td>
<td>$63.0</td>
<td>$63.0</td>
<td>$350.00</td>
<td>$31.5K</td>
<td>94</td>
<td style="text-align: right;">3</td>
</tr>
</tbody>
</table>

<h3>About Charter Communications</h3>
Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the business: Legacy Charter, Time Warner Cable, and Bright House Networks. The firm now holds networks capable of providing television, internet access, and phone services to roughly 57 million US homes and businesses, around 40% of the country. Across this footprint, Charter serves 30 million residential and 2 million commercial customer accounts under the Spectrum brand, making it the second-largest US cable company behind Comcast. The firm also owns, in whole or in part, sports and news networks, including Spectrum SportsNet (long-term local rights to Los Angeles Lakers games), SportsNet LA (Los Angeles Dodgers), SportsNet New York (New York Mets), and Spectrum News NY1.
After a thorough review of the options trading surrounding Charter Communications, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Charter Communications Standing Right Now?</h3>
<ul>
<li>With a volume of 765,007, the price of CHTR is up 0.97% at $330.58. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 9 days.</li>
</ul>
<h3>What The Experts Say On Charter Communications</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $252.5.
<ul>
<li>In a cautious move, an analyst from Goldman Sachs downgraded its rating to Sell, setting a price target of $250. </li>
<li>An analyst from Citigroup downgraded its action to Sell with a price target of $255. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Charter Communications with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

CHTR

Spotlight on Charter Communications: Analyzing the Surge in Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Carnival.
Looking at options history for Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $333,649 and 9, calls, for a total amount of $287,330.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $17.0 to $35.0 for Carnival over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Carnival's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Carnival's significant trades, within a strike price range of $17.0 to $35.0, over the past month.
<h3>Carnival Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721241054_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CCL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$8.85</td>
<td>$8.75</td>
<td>$8.75</td>
<td>$27.00</td>
<td>$261.6K</td>
<td>312</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>CCL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.02</td>
<td>$1.98</td>
<td>$1.99</td>
<td>$20.00</td>
<td>$47.3K</td>
<td>30.8K</td>
<td style="text-align: right;">548</td>
</tr>
<tr>
<td>CCL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.25</td>
<td>$3.2</td>
<td>$3.2</td>
<td>$21.00</td>
<td>$39.6K</td>
<td>273</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CCL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$1.73</td>
<td>$1.7</td>
<td>$1.7</td>
<td>$17.00</td>
<td>$34.0K</td>
<td>24.0K</td>
<td style="text-align: right;">50</td>
</tr>
<tr>
<td>CCL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/02/24</td>
<td>$0.16</td>
<td>$0.15</td>
<td>$0.16</td>
<td>$17.00</td>
<td>$32.3K</td>
<td>427</td>
<td style="text-align: right;">10</td>
</tr>
</tbody>
</table>

<h3>About Carnival</h3>
Carnival is the largest global cruise company, with 92 ships in service at the end of fiscal 2023. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&amp;O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe. It's currently folding its P&amp;O Australia brand into Carnival. The firm also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted nearly 13 million guests in 2019, prior to covid-19, a level it reached again in 2023.
<h3>Where Is Carnival Standing Right Now?</h3>
<ul>
<li>With a trading volume of 19,040,582, the price of CCL is down by -3.65%, reaching $18.48.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 72 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Carnival</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $22.4.
<ul>
<li>An analyst from Citigroup has decided to maintain their Buy rating on Carnival, which currently sits at a price target of $22. </li>
<li>Consistent in their evaluation, an analyst from Deutsche Bank keeps a Hold rating on Carnival with a target price of $19. </li>
<li>An analyst from B of A Securities has decided to maintain their Buy rating on Carnival, which currently sits at a price target of $24. </li>
<li>Consistent in their evaluation, an analyst from Argus Research keeps a Buy rating on Carnival with a target price of $25. </li>
<li>Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Carnival, targeting a price of $22. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Carnival options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Carnival's Options Frenzy: What You Need to Know

Whales with a lot of money to spend have taken a noticeably bullish stance on KLA.
Looking at options history for KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) we detected 29 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 31% with bearish.
From the overall spotted trades, 18 are puts, for a total amount of $1,066,035 and 11, calls, for a total amount of $523,769.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $680.0 to $1140.0 for KLA over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for KLA's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across KLA's significant trades, within a strike price range of $680.0 to $1140.0, over the past month.
<h3>KLA 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721241049_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>KLAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$33.6</td>
<td>$27.6</td>
<td>$33.7</td>
<td>$830.00</td>
<td>$250.7K</td>
<td style="text-align: right;">126</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>KLAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$216.0</td>
<td>$210.0</td>
<td>$211.27</td>
<td>$700.00</td>
<td>$105.6K</td>
<td style="text-align: right;">16</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>KLAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$36.6</td>
<td>$35.5</td>
<td>$35.5</td>
<td>$700.00</td>
<td>$71.0K</td>
<td style="text-align: right;">116</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>KLAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$26.4</td>
<td>$21.0</td>
<td>$23.4</td>
<td>$900.00</td>
<td>$70.2K</td>
<td style="text-align: right;">199</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>KLAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$75.0</td>
<td>$67.8</td>
<td>$70.15</td>
<td>$877.50</td>
<td>$70.1K</td>
<td style="text-align: right;">12</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About KLA</h3>
KLA is one of the largest semiconductor wafer fabrication equipment, or WFE, manufacturers in the world. It specializes in the market segment of semiconductor process control, wherein machines inspect semiconductor wafers during research and development and manufacturing for defects and verify precise measurements. In this section of the market, KLA holds a majority share. It also has a small exposure to the etch and deposition segments of the WFE market. It counts as top customers the largest chipmakers in the world, including TSMC and Samsung.
Following our analysis of the options activities associated with KLA, we pivot to a closer look at the company's own performance.
<h3>KLA's Current Market Status</h3>
<ul>
<li>Trading volume stands at 590,309, with KLAC's price down by -8.04%, positioned at $797.42.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 7 days.</li>
</ul>
<h3>Expert Opinions on KLA</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $935.0.
<ul>
<li>An analyst from Cantor Fitzgerald persists with their Neutral rating on KLA, maintaining a target price of $950. </li>
<li>Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on KLA with a target price of $875. </li>
<li>Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for KLA, targeting a price of $980. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest KLA options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

KLAC

Looking At KLA's Recent Unusual Options Activity

KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) has outperformed the market over the past 20 years by 7.85% on an annualized basis producing an average annual return of 16.37%. Currently, KLA has a market capitalization of $107.36 billion. 
Buying $100 In KLAC: If an investor had bought $100 of KLAC stock 20 years ago, it would be worth $2,057.33 today based on a price of $797.42 for KLAC at the time of writing.
<h3>KLA's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721241016_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.