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Next e GO (OTC:EGOXF) Stock, Option Chain

Next e GO NV designs and manufactures battery electric vehicles for the urban environment, with focus on convenience, reliability and affordability. It has developed a disruptive solution for producing its electric vehicles using proprietary technologies and low cost MicroFactories.

Next e GO NV

Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) shares have nosedived 12.5% month-to-date through Nov. 19, putting the stock on track for its worst monthly performance since February 2009, when <a href="https://www.benzinga.com/quote/LLY/news">it tumbled 20.2%. </a>
The pharmaceutical giant, which ranks 11th by market capitalization in the S&amp;P 500 and holds the top spot among health care stocks, is reeling from a disappointing third-quarter earnings report and lowered guidance.
The sell-off raised doubts about the near-term prospects for Lilly's high-profile drugs Mounjaro and Zepbound, which missed revenue expectations and contributed to a storm of investor uncertainty.
For traders, the burning question now is whether Eli Lilly's pullback represents an opportunity to "buy the dip" in a high-quality, highly profitable company that maintains a position of dominance in the health care market.
<h1 class="wp-block-heading">Chart: LLY Shares On Track For Worst Month In Over 15 Years</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19124450/image-197-1024x501.png" alt="" class="wp-image-655565" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19124450/image-197-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19124450/image-197-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19124450/image-197-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19124450/image-197-1536x752.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19124450/image-197.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">The Catalyst: Weak Third-Quarter Earnings and Downgraded Guidance</h1>
Eli Lilly's third-quarter earnings report, released on Oct. 30, triggered the stock's steep decline in November.
While the company has been riding high on the success of its diabetes and obesity drugs, Mounjaro and Zepbound, both underperformed this quarter, missing revenue expectations by 14% and 26%, respectively.
Alec W. Stranahan, an analyst at Bank of America, said, "The focus this quarter was again on Mounjaro and Zepbound, which missed revenue expectations by a wide margin."
In response to the weak performance, Eli Lilly adjusted its full-year revenue guidance. 
The company lowered the high end of its forecast, projecting $45.4 billion to $46 billion, down from the previous range of $45.4 billion to $46.6 billion.
Lilly management attributed the third-quarter shortfall to temporary "inventory dynamics" rather than a fundamental decline in demand, reassuring investors that this was not indicative of a broader problem with its flagship drugs.
The company also highlighted its ongoing direct-to-consumer (DTC) promotional efforts, which began in the third quarter and are expected to drive sales growth in the fourth quarter and into 2025.
Despite the negative quarter, Bank of America remains bullish on Eli Lilly despite the recent stumble. Stranahan reaffirmed his "Buy" rating on the stock with a 12-month price target of $1,100, implying a 55% upside from current levels.
Instead, Goldman Sachs took a more cautious stance, maintaining a "Neutral" rating on Eli Lilly with a 12-month price target of $890, implying a 24% upside from current levels.
Chris Shibutani, M.D., described the third quarter as a "challenging update" and flagged the $1 billion shortfall in tirzepatide revenues as a significant concern. 
He expressed skepticism about whether the company can achieve its revised fourth quarter and 2025 revenue guidance.
The analyst urges caution ahead, highlighting that Eli Lilly's guidance assumes significant execution on multiple fronts, from inventory management to international expansion. "These factors need to cooperate for LLY to deliver," Shibutani said.
<h1 class="wp-block-heading">How Did Eli Lilly Shares React After Double-Digit Monthly Sell-offs?</h1>
Double-digit monthly selloffs have been a rarity for Eli Lilly, with only four occurrences in the past 15 years where the stock dropped more than 10% in a single month.
Interestingly, past data shows Eli Lilly has historically rebounded strongly following such declines.
Here's how the stock performed one month and three months after these major sell-offs:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Month</th>
<th>LLY Monthly Loss (%)</th>
<th>LLY 1-Month Forward (%)</th>
<th>LLY 3-Month Forward (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>October 2020</td>
<td>-11.9%</td>
<td>+11.6%</td>
<td>+59.5%</td>
</tr>
<tr>
<td>September 2021</td>
<td>-10.6%</td>
<td>+10.2%</td>
<td>+19.8%</td>
</tr>
<tr>
<td>January 2022</td>
<td>-11.2%</td>
<td>+14.6%</td>
<td>+28.4%</td>
</tr>
<tr>
<td>July 2024</td>
<td>-11.2%</td>
<td>+24.1%</td>
<td>+2.3%</td>
</tr>
</tbody>
</table>
</figure>
While history doesn't guarantee future results, the data suggests that Eli Lilly shares have demonstrated resilience following steep sell-offs, with gains ranging from 10.2% to 24.1% one month later and a solid average of positive returns over three months.
Read Now:
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</ul>
Photo: Shutterstock

Analyst Color

Equities

Large Cap

Health Care

Eli Lilly Stock Eyes Worst Month Since February 2009: Is It Time To Buy The Dip?

In the current session, the stock is trading at $326.05, after a 1.12% increase. Over the past month, Cigna Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) stock increased by 2.82%, and in the past year, by 13.21%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1732041908_0.png" alt="Past Year Chart" />

<h3>Evaluating Cigna P/E in Comparison to Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of the 42.22 in the Health Care Providers &amp; Services industry, Cigna Inc. has a lower P/E ratio of 30.56. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1732041908_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

News

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Price Over Earnings Overview: Cigna

<a href="https://x.com/chrispavlovski/status/1858943901983498298" title="https://x.com/chrispavlovski/status/1858943901983498298">https://x.com/chrispavlovski/status/1858943901983498298</a>

$BTC

Rumble CEO Chris Pavlovski Posts On X "Should Rumble add Bitcoin to its balance sheet?"; Shares Spike Higher

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eToro Co-Founder And CEO Yoni Assia Says Thinks Notion Of Dumb Vs Smart Money Is Wrong, Says Popular Investors On eToro Are Generating Double-digit Returns, Says This Narrative Comes From People Who Want To Manage Retail's Money; Says With All The Information Out There, Retail Investors Can Become Successful, Says To Generate Double Digit Returns Over Time Is Not Simple But Doable

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INCY

Incyte Shares Resume Trade

eToro Co-Founder And CEO Yoni Assia Says Risk Appetite Is Changing Market Dynamics, Provides More Liquidity For Smaller Caps; Says Retail Investors Are Relying On The Large Amount Of Information Out There, Doesn't Think Retail Investors Are Reading Large Reports From A Bank But Looking At Social Media, Using ChatGPT For Research On A Stock

<a href="https://x.com/MarkKleinmanSky/status/1858942117827018868" title="https://x.com/MarkKleinmanSky/status/1858942117827018868">https://x.com/MarkKleinmanSky/status/1858942117827018868</a>

Watching Incyte; Sky News City Editor Mark Kleinman Posts On X "Merck Is The Latest Industry Giant To Be Linked To A Takeover Bid For Incyte, With Which It Collaborates On Several Drug Development Projects."

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

Cryptocurrency

eToro Co-Founder And CEO Yoni Assia Says We See A Difference In Risk Appetite Between Older Generation Of Investors And Newer Generations Of Retail Investors; Says Thinks Most Gen Y And Gen Z Want To Own Crypto, Says It Is A Sort Of A Gateway Trade, Easier For People To Get Into Crypto Instead Of Stocks, Notes People Came To eToro To Buy Crypto

Incyte Shares Halted On Circuit Breaker To The Upside, Stock Now Down - 9.67%

Bitdeer Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Tuesday.</a>
Yesterday, the company reported third-quarter results, where total revenue&nbsp;was $62.0 million, compared to $87.3 million in&nbsp;the year-ago period. Gross profit&nbsp;was $2.8 million, <a target="_blank" href="https://www.benzinga.com/quote/BTDR/analyst-ratings" rel="noreferrer noopener">compared to $21.1 million in the year-ago period.</a>
Here are the analyst&#8217;s takes on the earnings performance:
Needham analyst John Todaro reiterated the Buy rating on the stock, with a price forecast of $14.
The analyst praised the increased transparency with the full management team on the earnings call, but Todaro expressed disappointment over the lack of concrete details on potential HPC sites.
Todaro remains bullish on the stock due to the bitcoin bull market, maintaining a Buy rating.
The analyst notes that Bitdeer ranks mid-to-lower among public bitcoin miners in production costs, offering strong gross margins with bitcoin above $50-60k. The stock is expected to re-rate in 2025, driven by hash rate expansion, new generation mining machines sourced at production cost, and a growing presence in U.S. capital markets.
Also Read:<a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/11/42058823/blackrocks-spot-bitcoin-etf-to-open-for-options-trading-heres-why-it-could-be-a-big-deal-for-bitcoin" rel="noreferrer noopener"> BlackRock&#8217;s Spot Bitcoin ETF To Open For Options Trading: Here&#8217;s Why It Could Be A Big Deal For Bitcoin</a>
Benchmark analyst Mark Palmer reiterated the Buy rating on the company, with a price forecast of $16.
The analyst highlights that Bitdeer has started mass production of its SEALMINER A2 rigs, targeting 18 EH/s, with deliveries expected in 1Q25. Additionally, BTDR&#8217;s SEAL03 chip, designed for improved efficiency at 10 J/TH, will enter testing with samples expected by 2Q25, enabling the SEALMINER A3 rig to achieve 11-12 J/TH efficiency in 2Q25, Palmer adds.
HC Wainwright analyst Mike Colonnese reiterated the Buy rating on Bitdeer, raising the price forecast to $18 from $17. The analyst estimates Bitdeer could nearly triple its self-mining capacity to ~23 EH/s by 2025, up from 8.4 EH/s in October, though management withheld official guidance.
The 2024 revenue estimate was lowered to $342.9 million from $381.2 million, driven by lower hosting revenues, partially offset by higher self-mining revenues. The revised estimate includes $157.6 million in self-mining revenues (up from $153.6 million) and reduced hosting revenues of $129.3 million (down from $171.6 million).
Price Action: BTDR shares are trading lower by 3.25% to $11.47 at last check Tuesday.
Image via Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052184/will-shiba-inu-coin-reach-1-cent-by-2025-47-of-benzinga-readers-say" target="_blank" rel="noreferrer noopener">Will Shiba Inu Coin Reach 1 Cent By 2025? 47% Of Benzinga Readers Say…</a></li>
</ul>

Price Target

Reiteration

Analyst Ratings

General

BTDR

Bitdeer Technologies' Strong Growth Potential Highlighted By Analysts Amid Bitcoin Bull Market

Aligos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGS#NASDAQ">ALGS</a>, "Aligos"))), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in liver and viral diseases, today announced positive data from one late-breaker oral and three poster presentations at the American Association for the Study of Liver Disease's (AASLD) The Liver Meeting (TLM) 2024, being held November 15 – 19, 2024 in San Diego, CA.
The clinical poster presentation highlighted the continued potent antiviral activity of ALG-000184 for chronic hepatitis B (CHB) virus infection in both HBeAg-positive and HBeAg-negative subjects, demonstrating the potential for the molecule to become first-line therapy for chronic suppression and the backbone for regimens aimed at functional cure.
Data from ≤84 weeks following an oral daily dose of 300 mg ALG-000184 monotherapy demonstrated sustained HBV DNA suppression (100%) HBeAg-positive CHB subjects. All HBeAg- subjects achieved sustained HBV DNA suppression by Week 24 and 11/11 (100%) subjects achieved sustained HBV DNA 91%) subjects further achieving HBV DNA below the lower limit of detection (LLOD &lt;4.92 IU/mL). Importantly, no subject demonstrated viral resistance to ALG-000184 monotherapy and suppression was maintained throughout the dosing period.
All subjects achieved sustained HBV RNA &lt; LLOQ by Week 44 in HBeAg+ subjects and Week 8 in HBeAg- subjects. Multi-log10 reductions in HBsAg, HBeAg, and HBcrAg were observed in HBeAg+ subjects, and HBcrAg decline was observed in HBeAg- subjects. In both patient populations, ALG-000184 continues to be well tolerated with no viral breakthrough observed and no known CAM resistant mutations identified with monotherapy treatment.
Additionally, the late-breaker oral presentation highlighted the best-in-class potential of ALG-055009, a purpose built THR-β agonist discovered by Aligos scientists. 12-weeks of once daily ALG-055009 treatment in MASH patients met the primary endpoint, with robust reductions in liver fat content at Week 12. Doses of 0.5 mg to 0.9 mg ALG-055009 demonstrated statistically significant reductions in liver fat at Week 12, with placebo-adjusted median relative reductions up to 46.2% as measured by MRI-PDFF. Up to 70% of subjects achieved ≥30% relative reduction in liver fat compared to baseline, a positive prognostic indicator of histological improvements in MASH resolution and fibrosis reduction. Eighteen subjects who were on stable GLP-1 agonist therapy qualified for enrollment in the study, with liver fat content meeting the inclusion criteria of ≥10% at baseline as measured by MRI-PDFF. Notably, 11/14 subjects on stable GLP-1 agonists treated with ALG-055009 had liver fat decreases, whereas 4/4 subjects on stable GLP-1 agonists treated with placebo had increases in liver fat over the 12-week dosing period.
Significant reductions in atherogenic lipids, including LDL-C, lipoprotein (a) and apolipoprotein B and dose-dependent increases in SHBG were observed. In particular, ALG-055009 demonstrated a dose-dependent reduction from baseline of up to 26.8% at Week 12 for lipoprotein (a), which is an established risk factor for cardiovascular disease that has been resistant to treatment with statin therapy. Treatment with ALG-055009 was well-tolerated, with rates of gastrointestinal-related AEs similar to placebo.

Biotech

ALGS

Aligos Therapeutics Presents Data From One Late-Breaker Oral And 3 Poster Presentations At The American Association For The Study Of Liver Disease's The Liver Meeting 2024; 12-Weeks Of Once Daily ALG-055009 Treatment In MASH Patients Met The Primary Endpoint, With Robust Reductions In Liver Fat Content At Week 12

DELL

MSFT

Dell Technologies Enhances AI Innovation And Cybersecurity For Microsoft Users With New APEX Solutions And Managed Services; Available H1 2025

Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is stepping up its efforts to address a sales <a target="_blank" href="https://www.benzinga.com/government/24/10/41573818/iphone-16-blocked-apple-faces-sales-ban-in-indonesia-over-local-investment-shortfall-report" rel="noreferrer noopener">ban on its iPhone 16</a> in Indonesia by proposing a substantial $100 million investment.
The tech giant aims to strengthen its position in one of Southeast Asia&#8217;s largest markets by meeting the country&#8217;s stringent domestic content requirements.
Earlier this year, Apple failed to meet Indonesia&#8217;s Domestic Content Level threshold, a prerequisite for certifying imported products like the iPhone 16, Firstpost <a target="_blank" href="https://www.firstpost.com/tech/apple-to-increase-investment-in-indonesia-by-10x-to-reverse-iphone-ban-invest-over-100-million-13836406.html" rel="noreferrer noopener">reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41966622/netease-q3-earnings-top-forecasts-as-cloud-music-grows-gaming-weakens" rel="noreferrer noopener">NetEase Q3 Earnings: Revenue And EPS Beat As Cloud Music Grows, Gaming Weakens</a>
Apple initially offered $10 million to address the shortfall, but the Ministry of Industry deemed this insufficient, resulting in the ban&#8217;s continuation.
Indonesia&#8217;s Ministry of Industry blocked iPhone 16 sales last month, citing the company&#8217;s failure to meet a 40% domestic content threshold, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-19/apple-said-to-offer-100-million-to-undo-indonesia-iphone-16-ban?srnd=phx-technology&amp;sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
Apple&#8217;s previous $10 million investment plan focused on manufacturing accessories and components but fell short of regulatory demands.
Apple has invested $95 million in Indonesia through developer academies but remains $5 million short of the 1.7 trillion rupiah ($109.6 million) threshold.
Apple proposed a $100 million investment spread over two years to resolve the impasse. However, Indonesian authorities are pushing for these funds to focus on research and development rather than bolstering existing manufacturing collaborations.
Apple has already invested in initiatives like its Developer Academies, with the latest launch in April 2024. Despite these efforts, the Ministry remains steadfast in its demand for a more strategic commitment.
Indonesia&#8217;s stringent investment requirements reflect a broader policy under President Prabowo Subianto aimed at boosting local industry and reducing reliance on imports. Global tech companies, including Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, and ByteDance, have faced similar challenges.
Apple&#8217;s increased investment underscores its determination to tap into Indonesia&#8217;s 278 million consumers, over half of whom are under 44 and tech-savvy, the report says.
The ban&#8217;s resolution could also bolster Apple&#8217;s efforts to decouple its supply chain from China while strengthening its foothold in emerging markets.
Meanwhile, Apple analyst Ming-Chi Kuo reported a <a target="_blank" href="https://www.benzinga.com/news/24/10/41497367/apple-stock-is-sliding-wednesday-whats-going-on" rel="noreferrer noopener">ten million-unit</a> cut in iPhone 16 orders from late 2024 through mid-2025. Most cuts impact non-Pro models, with production now forecast at 84 million units.
iPhone SE4 production is set to begin in December, targeting 8.6 million units by Q1 2025. Kuo expects iPhone revenues to face pressure in early 2025 due to shipment declines and a less favorable product mix.
Needham&#8217;s Laura Martin&nbsp;expects iPhone sales&nbsp;to account for&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/10/41551122/apples-q3-smartphone-sales-slip-despite-strong-iphone-16-demand-market-share-dropped-slightly" rel="noreferrer noopener">89%-96% of</a> Apple&#8217;s 2025 revenue.
Price Action: AAPL stock is up 0.64% at $229.48 at the last check on Tuesday.
Also Read:
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<li><a href="https://www.benzinga.com/markets/emerging-markets/24/11/41951575/taiwan-semi-boosts-advanced-chipmaking-with-record-euv-expansion-grabs-56-global-share" target="_blank" rel="noreferrer noopener">Taiwan Semi Boosts Advanced Chipmaking with Record EUV Expansion, Grabs 56% Global Share</a></li>
</ul>
Photo via Apple

Government

Regulations

Emerging Markets

Tech

Media

AAPL

GOOG

GOOGL

Apple's $100 Million Gamble, Tech Giant Moves to Lift Indonesia's iPhone Ban

It should not be surprising that the new administration will be more friendly to the oil and gas business than the outgoing crowd.
On several occasions, the Biden administration was openly hostile toward oil and gas and promised to end the industry and develop 100% alternative energy supplies.
The fact that doing so was impossible for more reasons than we have space to outline never really bothered Biden administration folks.
Energy transition and the Green New Deal were cornerstones of the policy set forth by the Biden team, and little things like facts and physics could not be allowed to get in the way.
We need to have a serious conversation about what is really happening in the oil and gas business because there is a lot more to this story than what you&#8217;re hearing from the usual sources.
Let us start with a simple truth: The shift from the Biden administration&#8217;s openly hostile stance toward oil and gas to the new administration&#8217;s &#8220;Drill, Baby, Drill&#8221; enthusiasm represents two extremes, neither of which reflects the complex reality of today&#8217;s energy markets.
The current situation in oil and gas reminds me of trying to solve a puzzle: Every piece you place reveals two new gaps to fill.
The challenges are significant and interconnected.
Consider the workforce situation. When oil prices crashed, and everyone advised oilfield workers to &#8220;learn to code,&#8221; many of them actually did just that.
Others found their way into trucking, started small businesses, or found other careers that did not involve long shifts in punishing conditions.
The uncomfortable truth is that most of them are not coming back.
The average oilfield worker is now over 45, and new graduates are choosing tech companies over energy firms.
It is hard to fault their logic.
The equipment situation is not any prettier.
During the pandemic, a substantial amount of equipment was sidelined. Some deteriorated, some were cannibalized for parts, and some simply vanished into the ether.
Replacing this equipment is expensive, and it is complicated by inflation-driven steel prices and persistent supply chain issues.
Finding qualified maintenance personnel for older equipment is becoming its own special challenge.
Let&#8217;s talk numbers, because that&#8217;s where reality really hits home.
A well that cost $6.5 million to drill in the Permian Basin in 2019 now runs about $8.5 million, assuming you can secure both crew and equipment.
You need sustained oil prices above $70 per barrel at these costs just to break even. Below that, you are essentially converting larger denominations into smaller ones.
But here is where it gets interesting—and where the real opportunity lies.
Enter John C. Goff, a serious operator who understands that real wealth comes from owning tangible assets. In the early &#8217;90s, Goff partnered with Richard Rainwater to build Crescent Real Estate.
They did not rely on financial engineering.
They simply bought quality properties at reasonable prices and managed them well.
The result? They took a $500 million company public in 1994 and sold it to Morgan Stanley in 2007 for $6.5 billion.
In November 2009, Goff reacquired Crescent Real Estate in partnership with Barclays Capital for pennies on the dollar. In December 2017, he purchased Barclays&#8217; interest to once again become the principal owner of Crescent Real Estate.
That is the art of the deal.
Goff is now applying these same principles in the energy sector through Crescent Energy in a partnership with KKR (Ticker: KKR), a firm that knows a thing or two about value creation.
Their recent $2.1 billion acquisition of SilverBow Resources significantly expanded their Eagle Ford basin operations, making them the second-largest operator in that region.
Crescent's approach is methodical and disciplined: it acquires quality assets at good prices, maintains operational excellence, and focuses on shareholder returns.
With shares trading at about 80% of book value, a 3.45% dividend yield, and analysts projecting substantial earnings growth, Crescent Energy represents the kind of value proposition that catches my attention.
The real opportunity in oil and gas is not in drilling new wells.
It is in acquiring existing operations at attractive valuations.
Significant industry consolidation is likely in the coming years, making &#8220;Buy, Baby, Buy&#8221; a more compelling strategy than &#8220;Drill, Baby, Drill.&#8221;
This is how sustainable wealth is created in the energy sector.
It is all about staying under the radar and buying real assets at reasonable prices.
It is not particularly exciting, and it will not make headlines like the latest tech IPO, but it is a time-tested approach to building lasting value.
For investors who appreciate the principle of buying quality assets at a discount to their intrinsic value, the current environment in oil and gas presents some interesting opportunities. The key, as always, is maintaining discipline and taking a long-term view.

Opinion

Under the Radar - November 19th, 2024

<a href="https://www.bloomberg.com/news/articles/2024-11-19/grifols-board-issues-unfavorable-opinion-on-brookfield-offer">https://www.bloomberg.com/news/articles/2024-11-19/grifols-board-issues-unfavorable-opinion-on-brookfield-offer</a>
&nbsp;
<a href="https://www.bloomberg.com/quote/GRF:SM">Grifols SA</a>'s board of directors said it won't recommend that shareholders accept <a href="https://www.bloomberg.com/quote/BN:CN">Brookfield Asset Management's</a> indicative offer, which values the Spanish drugmaker at €6.45 billion ($6.8 billion).
The offer "significantly undervalues the company's fundamental prospects and its long-term potential," Grifols said in a <a href="https://www.bloomberg.com/news/terminal/SN7M90MB2SJT">regulatory filing</a> on Tuesday. The asset manager's disclosure was a tentative, non-binding indication requested by the Spanish regulator following media reports.

Management

GRFS

'Grifols Board Issues Unfavorable Opinion On Brookfield Offer; Brookfield And Grifols Family Have Been In Talks Since July; Investors Are Prepared To Push Back Against Low-Ball Offer' - Bloomberg News

In the current session, the stock is trading at $272.56, after a 1.08% increase. Over the past month, Heico Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) stock increased by 6.76%, and in the past year, by 57.14%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1732041010_0.png" alt="Past Year Chart" />

<h3>How Does Heico P/E Compare to Other Companies?</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Heico has a better P/E ratio of 79.08 than the aggregate P/E ratio of 70.63 of the Aerospace &amp; Defense industry. Ideally, one might believe that Heico Inc. might perform better in the future than it's industry group, but it's probable that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1732041010_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

A Look Into Heico Inc's Price Over Earnings

Kingsoft Cloud Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) reported&nbsp;a&nbsp;fiscal third-quarter 2024 revenue of 1.89 billion Chinese yuan ($268.7 million), up by 16.0% year-on-year,&nbsp;beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42058063/kingsoft-cloud-announces-unaudited-third-quarter-2024-financial-results-with-accelerated-revenue-g" rel="noreferrer noopener">analyst consensus estimate of&nbsp;$247.46 million</a>.&nbsp;
The accelerated growth of high-quality businesses, such as AI, has offset the decline in the low-margin CDN business due to strategic proactive adjustments.
Kingsoft clocked an adjusted loss per ADS of 14 cents, which aligns with the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst&nbsp;estimate</a>.&nbsp;The stock price climbed after the print.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42057142/twitters-chinese-peer-weibo-q3-earnings-beats-expectations-advertising-stabilizes-vas-growth-shines-more" rel="noreferrer noopener">Twitter&#8217;s Chinese Peer Weibo Q3 Earnings: Beats Expectations, Advertising Stabilizes, VAS Growth Shines &amp; More</a>
Revenues from public cloud services increased by 15.6%&nbsp;year over year&nbsp;to $167.5 million, mainly due to the growth of AI demands. Revenues from enterprise cloud services were $101.2 million, an increase of 16.7% Y/Y.
The adjusted gross profit was 307.6 million Chinese yuan ($43.8 million)&nbsp;versus 196.3&nbsp;million Chinese yuan Y/Y.&nbsp;
The margin expanded by 420 bps to 16.3% due to strategic&nbsp;revenue mix adjustment, optimized enterprise cloud project selection, and efficient cost control measures.
Kingsoft held $230.6 million in cash and equivalents as of September end.
Kingsoft Cloud&#8217;s CEO, Tao Zou, emphasized the company&#8217;s commitment to its &#8220;High-quality and Sustainable Development Strategy,&#8221; which drove 16% topline growth in third-quarter of 2024. The AI business expanded to 362 million Chinese yuan, representing 31% of public cloud revenue. Revenues from the Xiaomi and Kingsoft Ecosystem surged by 36% year-over-year, capitalizing on opportunities in sectors like EVs, LLM, and WPS AI, reinforcing confidence in the company&#8217;s strategic direction.
CFO Henry He highlighted the company&#8217;s strong quarterly performance, marked by double-digit revenue growth to 1.89 billion Chinese yuan and significant profitability improvements. Gross profit and EBITDA profit growth outpaced industry averages. The adjusted EBITDA margin saw a remarkable turnaround, reflecting the success of the company&#8217;s revenue structure adjustment and AI-focused transformation.
Outlook: The company anticipates <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">robust growth in</a> the fourth quarter of 2024, driven by stable performance in public and enterprise cloud segments. It expects an accelerated revenue growth rate during the quarter and continued improvements in profitability. Operating profit and adjusted operating profit will likely show significant progress.
Kingsoft Cloud Holdings stock surged over 21% year-to-date.
Price Action:&nbsp;KC stock is up 3.48% at $4.49 at&nbsp;the last check on Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/24/11/42057872/xpeng-q3-earnings-over-18-topline-growth-deliveries-up-double-digit-percentage-margins-climb-over-15-ceo-eyes-ai-leadership" target="_blank" rel="noreferrer noopener">XPeng Q3 Earnings: Revenue Beat, 16% Deliveries Growth, CEO Eyes AI Leadership And More</a></li>
</ul>

Earnings

Guidance

Movers

Kingsoft Cloud Q3 Earnings: Revenue Surges 16%, AI Growth Fuels Profits, CEO Shares Optimistic Outlook

NASDAQ began listing options on <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42058823/blackrocks-spot-bitcoin-etf-to-open-for-options-trading-heres-why-it-could-be-a-big-deal-for-bitcoin">BlackRock&#8217;s iShares Bitcoin Trust</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) today, a move that is expected to revolutionize how institutional investors engage with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), providing them with a regulated and accessible avenue to hedge positions and generate yield.
What Happened: According to Eric Balchunas, Senior ETF Analyst at Bloomberg, options volume for IBIT exceeded several hundred million by mid-day, with most of them betting on rising Bitcoin prices.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A few hundred million so far in options volume on <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> (a ton for Day One).. here&#39;s a rank of the contracts by volume, it&#39;s almost all calls. Seems very bullish, esp the Dec20th C100, which is basically betting price of btc will double in the next month. <a href="https://t.co/R6HB7OMUla">pic.twitter.com/R6HB7OMUla</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1858916477384225005?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The availability of options on IBIT brings a significant development to the U.S.-based Bitcoin ETF landscape, where BlackRock's IBIT stands out as the only ETF listed on NASDAQ. 
Options, as derivatives, allow investors to buy or sell IBIT shares at a predetermined price within a specified period, enabling both leveraged bets and effective hedging strategies.
On Nov. 18, Bitcoin spot ETFs recorded a net inflow of $255 million, with BlackRock&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) accounting for $89.3 million and Fidelity&#8216;s (CBOE: FBTC) contributing $59.9 million. 
In contrast, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs faced a net outflow of $39 million.
The Options Clearing Corporation (OCC) on Monday <a href="https://www.theblock.co/post/327072/options-trading-on-spot-bitcoin-etfs-may-launch-this-week-as-occ-preparing-for-the-clearance">confirmed</a> its readiness to clear these options, completing the final regulatory step required for their launch.
IBIT, having gained earlier approval, is expected to lead the market by one to two days over competing ETFs. 
This early launch advantage underscores BlackRock&#8217;s strategic positioning in the crypto-linked financial products sector.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42059827/crypto-exchange-gemini-launches-services-in-france-following-regulatory-approval">Crypto Exchange Gemini Launches Services In France Following Regulatory Approval</a>
Why It Matters: According to QCP Capital, this development is likely to attract institutional investors who face restrictions in accessing native crypto options markets like Deribit.
"This could provide the foundation BTC needs for a move higher," QCP noted, highlighting the potential impact of options trading on Bitcoin's price dynamics.
The introduction of IBIT options also shifts the role of traditional Bitcoin exposure vehicles like MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>). 
Historically used as a proxy for Bitcoin exposure due to its substantial BTC holdings, MSTR options may see reduced reliance as traders transition to ETF-based options. 
Similarly, CME futures, a staple in institutional Bitcoin strategies, could experience a decline in usage. 
Options on IBIT offer a more cost-effective and flexible hedging mechanism, potentially compressing arbitrage spreads while opening avenues for sophisticated strategies.
As institutional interest grows, the Bitcoin derivatives market is expected to see enhanced liquidity, improved efficiency, and increased complexity. 
The derivatives market for traditional assets often grows to be 10-20 times the size of the underlying asset's market cap. 
If Bitcoin derivatives follow a similar trajectory, the listing of IBIT options could significantly expand the reach and functionality of Bitcoin-linked financial products.
Bitcoin's price remains in a tight consolidation just below its all-time high of $93,400, signaling a healthy pause in the market. 
Illia Otychenko, Lead Analyst at CEX.IO told Benzinga that this consolidation, paired with consistently higher lows, positions Bitcoin for a potential breakout above $93,400, which could mirror its December 2020 rally dynamics.
While 11 spot Bitcoin ETFs are currently on the U.S. market, IBIT's listing on NASDAQ uniquely qualifies it for options trading. 
The SEC's approval of these options, alongside rule changes for other ETFs on NYSE and Cboe, highlights the evolving regulatory landscape for Bitcoin financial products.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049664/paul-tudor-jones-boosts-bitcoin-holdings-potentially-making-btc-his-largest-non-options-investment">Paul Tudor Jones Boosts Bitcoin Holdings, Potentially Making BTC His Largest Non-Options Investment</a></li>
</ul>
Image: Shutterstock

$ETH

Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

FBTC

IBIT

MSTR

BlackRock Spot Bitcoin ETF Options On Nasdaq Rack Up 9-Figure Trading Volume In First Few Hours: 'Seems Very Bullish,' Says Analyst

On Tuesday, GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) released the headline results of the GLISTEN global phase 3 trial evaluating linerixibat in adults with cholestatic pruritus (relentless itch) associated with primary biliary cholangitis (PBC), a rare autoimmune liver disease.
GLISTEN <a target="_blank" href="https://www.gsk.com/en-gb/media/press-releases/linerixibat-shows-positive-phase-iii-results-in-cholestatic-pruritus/" rel="noreferrer noopener">met</a> its primary endpoint, with linerixibat improving itch, as demonstrated by a statistically significant reduction from baseline in monthly itch score over 24 weeks versus placebo.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41986367/gsk-raises-prospects-for-withdrawn-blood-cancer-drug-blenrep-to-return-to-us-market-heres-why" rel="noreferrer noopener">GSK Raises Prospects For Withdrawn Blood Cancer Drug Blenrep To Return To US Market &#8211; Here&#8217;s Why</a>
The trial recruited PBC patients with moderate to severe itch who were receiving stable doses of guideline-suggested therapies for pruritus, were treatment naïve, or had been previously treated.
The preliminary safety results are generally consistent with those seen in prior studies of linerixibat. Further analysis of these data is ongoing.
Kaivan Khavandi, SVP &amp; Global Head, Respiratory/Immunology R&amp;D,&nbsp;GSK, said: &#8220;Linerixibat has the potential to be the first global therapy specifically developed to treat itch in PBC.&#8221;
People who have been diagnosed with PBC will reach 510,000 globally by 2030, and more than 240,000 people will experience relentless itch requiring treatment.
The full results of GLISTEN will be presented at a future scientific congress.
Investigational Linerixibat has been granted Orphan Drug Designation in the U.S. and EU.
In August this year, GSK <a target="_blank" href="https://www.nice.org.uk/guidance/awaiting-development/gid-ta11307" rel="noreferrer noopener">requested</a> a timeline adjustment, so the appraisal is expected to start in late September 2025. Submissions will be due around late November 2025.
This change allows the company more time to prepare a thorough and detailed submission for the National Institute for Health and Care Excellence (NICE).
Price Action: GSK stock is down 0.56% at $33.50 at the last check on Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42061321/vipshop-q3-earnings-revenue-beats-estimates-despite-order-decline-strong-margins-amid-soft-sales-reveals-q4-guidance-and-share-buybacks" target="_blank" rel="noreferrer noopener">Vipshop Beats Q3 Estimates Despite Sales Dip, Focuses On Long-Term Resilience</a></li>
</ul>

GSK's Investigational Liver Disease Candidate Hits Primary Goal In Late-Stage Study To Treat Relentless Itch In Some Patients

Stellantis Launches Third All-New, Multi-energy Platform:&nbsp; STLA Frame Offers Best-in-Class 690-Mile Electrified Range or 500-Mile BEV Range, Towing and Payload
<ul>
<li>Designed for full-size, body-on-frame trucks and SUVs, STLA Frame is versatile: supports internal combustion, hybrid, hydrogen, battery electric (BEV) and range-extender electric vehicle (REEV) technologies</li>
<li>The scalable STLA Frame is targeted to deliver best-in-class capabilities, including up to 690 mile/1,100 km of range with REEV and 500 mile/800km with BEV, 2,700-pound payload and 14,000-pound towing capacity</li>
<li>Dual electric drive modules (EDMs) deliver standard all-wheel drive capability with smooth, independent suspension</li>
<li>Engineered with high flexibility, STLA Frame features 400-volt and 800-volt EV architectures and offers DC fast charging up to 350 kW, adding 100 miles in just 10 minutes</li>
<li>Ram and Jeep&#xAE; brand vehicles are the first to use STLA Frame</li>
</ul>
AMSTERDAM, November 19, 2024 – Stellantis N.V. today unveiled the STLA Frame platform, a BEV-native, multi-energy platform engineered for full-size body-on-frame pickup trucks and SUVs – a critical segment in North America and select global markets.
Full-size truck and SUV owners demand uncompromised power and durability and prioritize capability, practicality and performance. STLA Frame platform is designed to deliver class-leading range of up to 690 miles/1,100 km with the REEV and 500 miles/800 km in BEV, a maximum towing capacity of 14,000 pounds (6,350 kg) and a payload rating of 2,700 pounds (1,224 kg). Additionally, the platform supports water fording up to 24 inches (610 mm), making it ready for challenging environments and diverse use cases.
Intended to underpin Stellantis full-size pickup trucks, light commercial vehicles and SUVs, STLA Frame vehicles will initially be offered with an innovative propulsion lineup, including a full BEV system and a range-extended electric vehicle (REEV) configuration. STLA Frame can also accommodate internal combustion, hybrid and hydrogen propulsion systems in the future.
The REEV system, which combines a battery, front and rear electric drive modules (EDMs), on-board generator and internal combustion engine, allows drivers to haul or tow heavy loads over extended distance without sacrificing range. With no direct mechanical path from the engine to the wheels, the generator powers the EDMs to propel the vehicle and recharges the battery as needed, ensuring extended range under load conditions, while benefitting from the torque of the electric engines that bring the vehicle's dynamics to new heights.

STLA

Stellantis Unveils The STLA Frame Platform, A BEV-Native, Multi-Energy Platform Engineered For Full-Size Body-On-Frame Pickup Trucks And SUVs, A Critical Segment In North America And Select Global Markets

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