Latest news for essensys (OTC:ESYSF) Stock

essensys PLC is engaged in providing SaaS platforms and on-demand cloud services to the flexible workspace industry. Its software is designed and developed to solve the complex operational challenges faced by multi-site flexible workspace. The group's technology allows operators to deliver a range of differentiated flexible and customer-specific services to a broad base of tenants across multiple locations and helps operators to manage the cost, operational and technological challenges. Geographically, it operates in United Kingdom and Europe, North America and Asia Pacific region, out of which it derives a majority of revenue from the North America.

essensys PLC

Last week, Nvidia Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) issued its third quarter results, topping both&nbsp;sales and earnings&nbsp;estimates as well as posting a better-than-expected current quarter guidance as its end-customers, including Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), Open AI and&nbsp;Oracle Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/orcl#NYSE">ORCL</a>), have started receiving its next-generation AI chip, the mighty Blackwell, that is now in full production.
<h3>Third Quarter Highlights</h3>
For the quarter ended on October 27th, Nvidia reported its revenue surged 94% YoY&nbsp;&nbsp;to&nbsp;$35.08 billion, surpassing LSEG&rsquo;s estimate of&nbsp;$33.16 billion. But, this is a quarterly slowdown as sales rose 122%, 262%, and 265% during previous quarters respectively. The date center business that is at the heart of the AI hype brought in $30.8 billion with sales rising 112%&nbsp;YoY and surpassing StreetAccount&rsquo;s estimate of $28.82 billion. But not all of that revenue is made of chips that power AI development as&nbsp;$3.1 billion&nbsp;of that sales figure was brought in by networking parts. Gaming business brought $3.28 billion&nbsp;to the revenue table. While automotive and professional visualization businesses&nbsp;remain much smaller, automotive sales grew 72% YoY to $449 million while the later reported 17% YoY growth, bringing in sales of $486 million.
Net income more than doubled from last year&rsquo;s comparable quarter as it amounted to $19.3 billion. While net income jumped from last year&rsquo;s&nbsp;37 cents&nbsp;per share to 70 cents per share,&nbsp;adjusted earnings per share amounted to 81 cents, also topping LSEG&rsquo;s estimate of 75 cents. Due to selling more chips, gross margin expanded to 73.5%.
<h3>Fourth Quarter Outlook</h3>
Nvidia guided for current quarter sales of about $37.5 billion plus or minus 2%. Outlook implies YoY growth of about 70%, which is a&nbsp;slowdown from last year&rsquo;s comparable quarter when growth amounted to 265%.
Nvidia&rsquo;s AI dominance remains intact.
It&rsquo;s a well-known fact that Nvidia is a&nbsp;primary beneficiary of the ongoing AI hype, with shares nearly tripling year to date. Blackwell shipments are in for a ramp up next year, but already in the current quarter, Nvidia is in &ldquo;several billion dollars&rdquo; of Blackwell revenue. Demand for Blackwell is expected to exceed supply for several quarters in the next fiscal year. Now for how long can Nvidia&rsquo;s AI dominance continue to soar is a different question only time is able to answer.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

MSFT

NVDA

ORCL

Nvidia's Latest Record Quarter Show Its AI Dominance Remains Intact

President-elect Donald Trump's transition team is considering Paul Atkins, a seasoned financial regulator and advocate for digital assets, to lead the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42131449/with-gary-gensler-preparing-to-quit-in-2025-secs-crypto-cases-likely-to-quietly-go-away-amid-trumps-pro-bitcoin-stance-says-pantera-capitals-katrina-paglia">U.S. Securities and Exchange Commission</a>.
What Happened: Atkins, a Republican SEC commissioner during the George W. Bush administration, is among the top contenders to replace outgoing SEC Chair Gary Gensler, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-27/trump-team-eyes-atkins-ex-sec-commissioner-to-succeed-gensler?utm_content=crypto&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic&amp;utm_medium=social&amp;embedded-checkout=true">reported</a>.
Trump's decision on the appointment is expected in the coming days.
Atkins' background positions him as a strong candidate to reshape the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42131449/with-gary-gensler-preparing-to-quit-in-2025-secs-crypto-cases-likely-to-quietly-go-away-amid-trumps-pro-bitcoin-stance-says-pantera-capitals-katrina-paglia">SEC's approach to regulation</a>, particularly regarding cryptocurrency and financial technology.
Since leaving the SEC, he founded Patomak Global Partners, a consultancy advising major financial firms, and has testified before Congress on streamlining regulatory processes and reducing unnecessary burdens on the financial industry. 
An advocate for digital assets, Atkins has pushed for clear and balanced rules to foster innovation while maintaining market integrity.
Other candidates reportedly under consideration include current SEC Commissioner Mark Uyeda, former CFTC Chair Heath Tarbert, and Robert Stebbins, a partner at Willkie Farr &amp; Gallagher LLP. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42220218/ripple-to-invest-in-rebranded-xrp-exchange-traded-product-by-bitwise">Ripple To Invest In Rebranded XRP Exchange-Traded Product By Bitwise</a>
A spokesperson for Trump's transition team, Karoline Leavitt, praised the president-elect's swift decisions in assembling his administration, stating, "Remaining decisions will continue to be announced by him when they are made."
Atkins' potential appointment signals a departure from the regulatory approach under Gensler, who led the SEC with an aggressive stance on crypto enforcement following high-profile failures like the collapse of FTX. 
Gensler's tenure drew criticism from the industry for creating uncertainty by regulating through enforcement rather than providing clear guidelines. 
Trump, during his campaign, vowed to end what he described as the SEC's "anti-crypto crusade" and promised to appoint <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41883348/donald-trump-cant-fire-gary-gensler-but-pro-crypto-policies-means-industry-is-on-the-verge-of-a-golden-era">crypto-friendly regulators.</a>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42220158/donald-trump-to-establish-a-national-bitcoin-reserve-pros-vs-cons-compared">Donald Trump To Establish A National Bitcoin Reserve? Pros Vs Cons Compared</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

News

Donald Trump Eyes Former SEC Comissioner Paul Atkins As Gary Gensler's Successor

Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) reported earnings results for the <a href="https://www.benzinga.com/quote/URBN/earnings">third quarter on Tuesday</a>.
The company said quarterly net sales rose 6.3% to a record $1.36 billion and earnings came in at $1.10 per share.
&#8220;We are pleased to announce record third quarter sales and earnings, both of which exceeded our expectations. These results were driven by outperformance across all three business segments – Retail, Subscription and Wholesale,&#8221; said Richard A. Hayne, Chief Executive Officer. &#8220;Additionally, we&#8217;re optimistic about the outlook for Holiday demand and believe total comparable sales could be similar to our third quarter results.&#8221;
Urban Outfitters shares gained 16.9% to trade at $46.91 on Wednesday.
These analysts made changes to their price targets on Urban Outfitters following earnings announcement.
<ul>
<li>Citigroup analyst Paul Lejuez upgraded Urban Outfitters from Neutral to Buy and raised the price target from $42 to $59.</li>
<li>Telsey Advisory Group analyst Dana Telsey maintained the stock with a Market Perform and raised the price target from $44 to $46.</li>
<li>Baird analyst Mark Altschwager maintained the stock with a Neutral and increased the price target from $47 to $49.</li>
<li>B of A Securities analyst Lorraine Hutchinson maintained Urban Outfitters with a Buy and raised the price target from $46 to $53.</li>
<li>Barclays analyst Adrienne Yih maintained the stock with an Overweight and raised the price target from $43 to $51.</li>
<li>Morgan Stanley analyst Alex Straton maintained Urban Outfitters with an Equal-Weight and raised the price target from $38 to $41.</li>
<li>Wells Fargo analyst Ike Boruchow maintained the stock with an Equal-Weight and boosted the price target from $40 to $48</li>
</ul>
Considering buying URBN stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="599" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27132434/image-297-1024x599.png" alt="" class="wp-image-668011" style="width:626px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27132434/image-297-1024x599.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27132434/image-297-300x175.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27132434/image-297-768x449.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27132434/image-297.png 1112w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/24/11/42213467/urban-outfitters-to-rally-around-47-here-are-10-top-analyst-forecasts-for-wednesday">Urban Outfitters To Rally Around 47%? Here Are 10 Top Analyst Forecasts For Wednesday</a></li>
</ul>

Earnings

Price Target

Markets

Analyst Ratings

Trading Ideas

URBN

These Analysts Increase Their Forecasts On Urban Outfitters After Q3 Results

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust</h3>
SPY&nbsp;(ARCA: SPY) is currently trading near the 599.24 level, which serves as a key area for bullish interest. If buyers manage to defend this level, the next objective will be a climb toward 600.51. A sustained push above this could lead to testing 602.48 as a critical support level. Further momentum may pave the way for a move toward 604.45, with a high bullish target set at 607.55 if the rally gains significant strength.
On the downside, failure to maintain support at 599.24 may trigger selling pressure toward 598.04. Should sellers maintain control below this level, the next focus would be on 596.57. If bears continue to dominate, we could see a deeper pullback to the strong support level at 593.73. In an aggressive selloff, the low target for SPY would be 592.00.
<h3>Invesco QQQ Trust Series 1</h3>
The QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is trading near the pivotal 508.22 level, and bulls will aim to hold this as a foundation for further gains. If successful, buyers could push prices toward 509.87, with further strength targeting 511.53. If the bullish momentum persists, 513.64 comes into play, with the high bull target for the day at 515.00.
However, if 508.22 fails to hold as support, the bears could drag the price down to 506.68. Breaking below this may lead to a test of 504.44, and if sellers remain in control, the next support at 502.65 could be tested. Persistent selling pressure might drive the price down to the low bear target of 501.07.
<h3>Apple Inc.</h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is hovering around 234.20, where bulls aim to establish a base for upward movement. If this level is defended, a push toward 234.97 could follow. Strong buying momentum may propel the price to 235.74, with the ultimate bullish target for the day at 236.69 if the rally holds steady.
Conversely, a failure to hold 234.20 could invite bears to test support at 233.28. Sustained downside action may lead to a retest of 231.76, with continued selling likely driving the price to 230.25. If bearish pressure accelerates, the low target for AAPL could reach 229.03.
<h3>Microsoft Corp. </h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is trading near 426.00, where bulls aim to secure a foothold for higher prices. Holding this level could see a rally toward 427.36, with further gains bringing 428.48 into focus. If buying interest persists, the high bull target at 429.25 may be achievable.
If 426.00 fails to hold, bears may seek to challenge 425.16. A break below this level could lead to further selling pressure toward 423.81. Continued weakness might push the price down to 422.84, with the low bear target for MSFT at 421.62.
<h3>NVIDIA Corporation</h3>
NVIDIA&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is trading near the key level of 135.64, where bulls are trying to establish control. If this level is defended, a move toward 136.98 could be the next target. Strong buying momentum may see the price test 137.94, with a high bull target of 139.42 in sight if the rally holds.
If 135.64 breaks, bears may push the price lower toward 134.56. Should selling intensify, the next focus will be on 133.31. Continued weakness could lead to a test of 132.19, with the low bear target for the day at 131.42.
<h3>Alphabet Inc Class A</h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is trading around 169.34, a key level for bulls to hold. A successful defense could lead to a rally toward 171.14, with further buying momentum targeting 172.28. Strong market participation could solidify gains at this high bull target.
If 169.34 fails to act as support, bears may drive the price down to 167.04. A breakdown at this level could see the price test 165.41, with further downside momentum pushing the auction to the low bear target of 163.79.
<h3>Meta Platforms Inc</h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is near the critical level of 573.25, which bulls will aim to hold as a launching point for higher prices. If successful, we could see a rally to 580.17, followed by a test of 585.73. Sustained buying interest might bring the high bull target at 591.29 into play.
On the other hand, a break below 573.25 could lead to selling pressure driving the price to 565.53. Persistent weakness may push the price lower to 559.29, with the low bear target for Meta at 553.05 if the selloff intensifies.
<h3>Tesla Inc. </h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading near 340.97, a critical level for the bulls. If buyers maintain control, a move toward 346.64 could follow, with 350.87 acting as the next major resistance. A strong rally may extend gains toward 356.80, with the high bull target set at 363.84.
Failure to hold 340.97 as support could result in a pullback toward 333.93. If selling pressure persists, the next target would be 327.59. A continued selloff may bring Tesla down to the low bear target of 322.52.
Final Word:&nbsp; Today&rsquo;s market session is set to be a pivotal one with a heavy lineup of economic data releases starting at 8:30 AM ET. Key reports include the weekly Initial and Continuing Jobless Claims, the Core PCE Price Index for October, and October&#39;s Personal Income and Spending data. These indicators will provide critical insights into inflation and consumer health.
At 10:00 AM ET, Pending Home Sales data for October will shed light on the housing market, followed by the 7-Year Treasury Note Auction at 11:30 AM ET. This packed schedule comes ahead of the Thanksgiving holiday, potentially amplifying market volatility due to thinner liquidity. Traders should stay alert, manage their positions with caution, and adjust to the dynamic market environment. Wishing you a successful trading session and a Happy Thanksgiving!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

General

AAPL

GOOGL

TSLA

Market Clubhouse Morning Memo - November 27th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

On Tuesday, Axsome Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) said AXS-12 statistically significantly reduced the frequency of cataplexy attacks compared to placebo (p=0.017, primary endpoint) in <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42185380/axsome-therapeutics-announces-axs-12-achieves-primary-endpoint-in-encore-long-term-phase-3-trial-i" rel="noreferrer noopener">Phase 3 ENCORE trial</a>.
AXS-12 was also well tolerated with long-term dosing, and its safety profile was consistent with that observed in previously completed trials.
The primary endpoint was achieved with patients randomized to switch to placebo experiencing a mean increase of 10.29 cataplexy attacks per week compared to a mean increase of 1.32 attacks per week for patients randomized to continue AXS-12 treatment at 3 weeks (p=0.017).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39891953/axsome-therapeutics-cns-portfolio-poised-for-major-growth-analyst-predicts-strong-f" rel="noreferrer noopener">Axsome Therapeutics&#8217; CNS Portfolio Poised for Major Growth &#8211; Analyst Predicts Strong Future</a>
AXS-12 resulted in statistically significant benefit in cognition compared to placebo.
A higher number of patients who switched to placebo experienced worsening on the NSAQ Ability to Concentrate item compared to those continuing on AXS-12 (52.6% versus 14.3%) at 3 weeks (p=0.011).
A statistically significant improvement in narcolepsy overall was observed compared to placebo.
More patients randomized to switch to placebo reported worsening of their narcolepsy compared to those continuing on AXS-12 (52.6% versus 16.7%) at 3 weeks (p=0.024).
During the long-term open-label treatment portion of the trial, patients experienced substantial and sustained improvement of cataplexy with AXS-12 treatment.
Patients experienced a 71% reduction from baseline in mean weekly cataplexy attacks at 1 month with AXS-12 treatment, which was sustained with long-term treatment, resulting in a 77% reduction at 6 months.
Long-term open-label treatment with AXS-12 resulted in substantial improvements in excessive daytime sleepiness. Mean scores were reduced by 5.6 points at 1 month, with this improvement maintained with long-term treatment, resulting in a mean reduction of 7.3 points at 6 months.
William Blair views the safety profile of AXS-12 as a key differentiator from Jazz Pharmaceuticals plc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAZZ#NASDAQ">JAZZ</a>) Xyrem. The analyst reiterates the Outperform rating on Axsome.
&#8220;Ultimately, we believe AXS-12 is both an approvable and effective therapy, with the data released today building on both the efficacy and long-term safety of the product,&#8221; the analyst writes.
William Blair conservatively models $440 million in peak AXS-12 sales, relative to growing Wakix sales of $582 million in 2023, and says the asset is undervalued with investor focus on data for AXS-05 in Alzheimer's disease agitation expected before year-end.
Price Action: AXSM stock is up 2.5% at $99.46 at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42216863/nvidia-intel-suppliers-rethink-mexico-operations-amid-trumps-tariff-threat" target="_blank" rel="noreferrer noopener">Nvidia, Intel Suppliers Rethink Mexico Operations Amid Trump&#8217;s Tariff Threat</a></li>
</ul>
Image via Pixabay.

Analyst Color

Biotech

Equities

Health Care

Reiteration

AXSM

JAZZ

Axsome Therapeutics' AXS-12 Data For Sleeping Disorder Boosts Confidence In Approval And Market Potential, Analyst Says

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) founder and CEO Jensen Huang has an interesting way of learning from AI that involves tormenting chatbots with <a href="https://www.benzinga.com/news/23/09/34737955/to-make-a-real-connection-asking-how-are-you-doesnt-work-heres-what-does">follow-up questions</a>.
What To Know: In an <a href="https://www.youtube.com/watch?v=NuTZNgrLBJk">interview</a> over the weekend at the Hong Kong University Of Science &amp; Technology, Huang suggested that students adopt AI as a tutor and then push the technology to become a valuable teacher through intense training, per <a href="https://www.businessinsider.com/questions-nvidias-ceo-asks-his-ai-to-learn-more-2024-11">Business Insider</a>.
&#8220;I torture my AI to teach me,&#8221; Huang said.
Huang was referring to the rigorous follow-up questions he asks an AI chatbot after he gives it a prompt. When AI provides an answer, the Nvidia CEO always asks it why. He then follows that question up by asking the chatbot to provide reasoning on a step-by-step basis.
See Also: <a href="https://www.benzinga.com/news/global/24/11/42160203/nvidias-growth-is-deeply-rooted-in-chinas-tech-ecosystem-says-ceo-jensen-huang">Jensen Huang Credits China&#8217;s &#8216;Amazing&#8217; Tech Ecosystem For Helping Shape AI Giant Nvidia</a>
Once he gets the breakdown, Huang asks the chatbot to provide alternative explanations for its reasoning. He then asks the AI to apply the reasoning to a different situation. Lastly, Huang requests analogies for further clarification.
&#8220;You can ask an AI today, &#8216;Reason with me, tell me why did you suggest that, tell me step by step how you arrived at that answer.&#8217; Through that probing process, AI is more transparent today, AI is more explainable today,&#8221; Huang said.
&#8220;Your set of questions could be like professors probe their students to understand their thinking process.&#8221;
Huang explained that confidence and certainty are two separate ideas. Leaders must have a great deal of confidence in what they are doing, but they don&#8217;t have to be certain, he noted.
It&#8217;s possible to be completely confident in pursuing a direction and still allow room for uncertainty. That room for uncertainty gives you the opportunity to continue to learn, Huang said.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42086596/jensen-huang-says-building-nvidia-was-a-million-times-harder-than-he-expected">Jensen Huang Says Building Nvidia Was A &#8216;Million Times Harder&#8217; Than He Expected</a></li>
</ul>
Photo: Shutterstock.

Tech

Nvidia CEO Jensen Huang Likes To 'Torture' AI

Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) is back above $1 after rallying over 200% over the past 30 days, significantly outperforming Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) in the process. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Market Cap</td>
<td>24-Hour Trend</td>
<td>7-Day Trend</td>
<td>30-Day Trend</td>
</tr>
<tr>
<td>Cardano </td>
<td>$1.02</td>
<td>$35.6 Billion</td>
<td>+8.8%</td>
<td>+23.5%</td>
<td>+203.9%</td>
</tr>
<tr>
<td>Bitcoin</td>
<td>$96,015.13</td>
<td>$1.9 Trillion</td>
<td>+2.4%</td>
<td>+2.2%</td>
<td>+39.1%</td>
</tr>
<tr>
<td>Ethereum</td>
<td>$3,560.54</td>
<td>$428.8 Billion</td>
<td>+7%</td>
<td>+15.9%</td>
<td>+42%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: Crypto trader Dan Gambardello <a href="https://x.com/cryptorecruitr/status/1861778936381772110">highlights</a> a wave of optimism surrounding ADA, noting that many holders used this level to take profits, while others see the current consolidation as a setup for further gains.
He sees current consolidation and redistribution phase as a healthy step, paving the way for potential future growth toward $5 and $10.
Statistics: IntoTheBlock data shows large transactions volume and daily active addresses dropped by 12.2% and 10.7%, respectively. 
Transactions greater than $100,000 decreased from 1,914 to 1,335 in a single day. Around 70% of ADA holders are in profit.
Crypto chart analyst Ali Martinez reported that Cardano whales purchased over $130 million worth of ADA during its recent price dip, suggesting strong institutional interest.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a> whales bought over 130 million <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ADA</a> during the recent price dip! <a href="https://t.co/VHg93o3WP5">pic.twitter.com/VHg93o3WP5</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1861696777155494347?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Community News: Charles Hoskinson, Cardano's co-founder, likened the blockchain's development to Bitcoin&#8217;s early vision, praising its alignment with decentralization and innovation in a <a href="https://x.com/IOHK_Charles/status/1861286232241906047">post</a> on X on Tuesday.
He also highlighted the potential of Cardano in building a DeFi-enabled Bitcoin ecosystem with technologies like Babel fees.
Hoskinson aims to build a hybrid app ecosystem powered by DeFi-enabled Bitcoin, ensuring it remains free of greed and distractions, and they commend Bitcoin developers for advancements like Taproot.
In another notable milestone, Cardano deployed its first zero-knowledge (ZK) smart contract, Halo2, on its mainnet. This advancement <a href="https://x.com/InputOutputHK/status/1861422105004233052?t=x_DXeatR-RwILZ6mhjBE2g&amp;s=19">aims</a> to reduce costs and improve proof generation and verification speeds, expanding the network's real-world applications.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/general/education/24/11/42098422/heres-how-much-100-invested-in-cardano-today-could-be-worth-if-ada-hits-new-all-time-highs">Here&#8217;s How Much $100 Invested In Cardano Today Could Be Worth If ADA Hits New All-Time Highs</a></li>
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Image: Shutterstock

$ADA

$BTC

$ETH

Cardano Price Surges Above One Dollar On 200% 30-Day Rally: What Is Going On With ADA?

<a href="https://news.bloomberglaw.com/us-law-week/microsoft-denies-training-ai-on-customer-data-following-uproar">https://news.bloomberglaw.com/us-law-week/microsoft-denies-training-ai-on-customer-data-following-uproar</a>
Microsoft Corp. rejected claims that it uses customer data from Microsoft 365 consumer and commercial applications, such as Word and Excel, to train large language models, after user worries spread on social media.
Allegations emerged a few days ago after some users noticed they were automatically opted into Microsoft 365's Connected Experiences, a 2019 setting that allows product features to be connected to the internet and the cloud.
The claims spread quickly among Microsoft users over what they perceived as a "sneaky" update to the provider's terms of use, which they said could allow the company to scrape Microsoft Office documents to train AI models.
The setting in question didn't specifically refer to AI training.
"These claims are untrue," a Microsoft spokesperson told Bloomberg Law Wednesday, noting that some customers may consent to their data being used in "certain instances," such as for custom model development when it is "explicitly requested."
The Connected Experiences setting being referenced has "no connection to how Microsoft trains foundational large language models," the spokesperson said. This setting enables cloud-backed features such as real-time co-authoring, cloud storage, and tools like Editor in Word that provide spelling and grammar suggestions, they said.
Users of online platforms have grown increasingly worried of their data—whether it be social media post, contracts, or pictures—being used to train organizations' latest AI models.
This summer, Adobe Systems Inc. faced <a href="https://news.bloomberglaw.com/privacy-and-data-security/adobe-responds-to-ai-fears-with-plans-for-updated-legal-terms">similar uproar</a> when it updated its terms of use, which users claimed allowed Adobe to seize their intellectual property and use their data to feed AI models. The Photoshop and Illustrator maker issued updated terms of use days later, in which it specifically stated the company doesn't train its Firefly AI models on its cloud content.

'Microsoft Denies Training AI on Customer Data Following Uproar' - Bloomberg Law

Most people dream of financial freedom, but the path to becoming a millionaire often seems complicated. For <a href="https://www.benzinga.com/personal-finance/24/11/42044634/653125">Dave Ramsey</a>, a well-known personal finance guru, reaching $3.6 million by age 65 is achievable for anyone willing to follow a consistent plan. In a recent tweet, Ramsey outlined a straightforward investment strategy that—while simple—requires discipline and patience.
Don't Miss:
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<li>The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
</ul>
<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">The average household income in the United States of America is $77,000. 15% of that invested in good growth-stock mutual funds at a 10% return from age 30 to age 65 is $3.6 million. It really is that simple—but it's not easy. If it was easy, everyone would be millionaires. <a href="https://t.co/aV0y1814ic">pic.twitter.com/aV0y1814ic</a>
&mdash; Dave Ramsey (@DaveRamsey) <a href="https://twitter.com/DaveRamsey/status/1801651482250367238?ref_src=twsrc%5Etfw">June 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to Ramsey, if you invest 15% of the average U.S. household income ($77,000) into growth-stock mutual funds, you can reach $3.6 million by the time you hit retirement age by investing at a 10% annual return rate, starting at age 30 and continuing until you're 65. As Ramsey puts it, "It really is that simple—but it's not easy. If it was easy, everyone would be millionaires."
<h2 class="wp-block-heading">The Power of Consistent Investing</h2>
Ramsey&#8217;s advice is most effective when combined with a consistent investment strategy. Saving 15% of your income each year may seem like a lot, especially with bills and other commitments but Ramsey's approach focuses on the long game—gradual accumulation that pays off big time by the time you retire. <a href="https://www.benzinga.com/personal-finance/24/11/42026823/this-is-how-you-get-wealthy-dave-ramsey-details-how-one-move-could-make-you-5-million-by-retirement">Compound interest is the real magic</a> here: the earlier you start, the more your money has time to grow.
Making small, regular contributions to growth-stock mutual funds can lead to big returns over time. This idea isn't new, but people often forget it because they think they need a high income to build wealth. What you really need is a plan to keep investing regularly, not a huge paycheck.
Trending: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>
<h2 class="wp-block-heading">Simple, But Not Easy</h2>
As Ramsey notes, while the strategy itself is simple, <a href="https://www.benzinga.com/personal-finance/24/08/40583428/you-cant-earn-your-way-out-of-stupidity-dave-ramsey-on-why-60k-earning-teachers-often-become-mil">it's not necessarily easy</a>. Most people struggle to commit to a plan that spans decades. As life gets in the way—emergencies, lifestyle upgrades, unexpected expenses, sticking to the 15% rule requires financial discipline, a budget, and oftentimes some really tough choices.
But according to Ramsey, those who are willing to make these sacrifices will be the ones who retire with millions in their accounts, while others rely on social security and hope for the best.
One important thing to keep in mind is how easy it is for money to slip away without you noticing. Think of your checking account like a sieve—if you don't pay attention, money leaks out just like water. Small, unnecessary expenses add up over time and can stop you from reaching your financial goals.&nbsp;
By making a budget and cutting out unnecessary spending, you can find extra money each month to invest. The key is to be intentional about where it goes, instead of letting it slip away without a plan.
Read Next:
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<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>
<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
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Personal Finance

Here's How To Reach $3.6 Million By Age 65, According To Dave Ramsey—'It Really Is That Simple'

Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) is accelerating its global expansion, focusing on international markets such as India and Brazil to drive user growth and unlock advertising opportunities. The platform, traditionally known as an English-language hub, is making strides in broadening its reach with new features <a href="https://www.benzinga.com/topic/reddit">and targeted strategies.</a>
In an <a href="https://www.cnbc.com/2024/11/27/reddit-targets-international-users-for-ad-growth-teases-search-feature.html" target="_blank" rel="noreferrer noopener">interview</a> with CNBC, Reddit COO Jen Wong highlighted the potential for international user growth, noting that approximately half of the platform&#8217;s current users are outside the U.S.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42118134/reddit-resolves-another-outage-after-morning-disruptions-impact-72000-users" rel="noreferrer noopener">Reddit Suffers Second Disruption In Two Days</a>
This contrasts with other platforms, where 80-90% of users are international, CNBC reports.
To cater to global audiences, Reddit launched an AI-powered translation feature that automatically translates the site into various languages. By year-end, the platform aims to support 20-30 languages, enabling localized engagement. Wong emphasized the growth potential in countries like India, where topics such as cricket and Bollywood resonate strongly with users.
In fast-growing markets like the U.K., Philippines, India, and Brazil, Reddit has started meeting with moderators (&#8220;mods&#8221;) to enhance local community content. This aligns with its strategy to build a strong presence in regions with a large, engaged internet population.
Despite having 50% of its user base outside the U.S., international markets account for just 17% of Reddit&#8217;s revenue, highlighting a significant opportunity for growth. Wong told CNBC that Reddit begins its advertising efforts with cross-border campaigns, such as European brands targeting U.S. audiences. Once Reddit reaches about 10% of a country&#8217;s internet users, the platform can focus on local ad campaigns, which it sees as a significant growth driver.
India, a key market, offers immense potential due to its English-speaking user base and interest in community-driven topics. Reddit is monitoring its growth closely in emerging markets to build localized advertising solutions.
Reddit <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41612293/reddit-stock-soars-after-strong-q3-results-q4-guidance-above-estimates-dauqs-grow-17-and-more" rel="noreferrer noopener">reported third-quarter</a> revenue of $348.4 million, topping the consensus estimate of $311.42 million. EPS of 16 cents per share surpassed the analyst consensus estimate for losses of 8 cents. Daily Active Uniques (DAUq) increased by 47% to 97.2 million. Reddit expects fourth-quarter revenue of $385 million—$400 million versus the $356.716 million estimate.&nbsp;
Jim Cramer <a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42212745/jim-cramer-reddit-is-fabulous-dow-is-a-tough-one" rel="noreferrer noopener">expressed optimism about</a> Reddit during CNBC&#8217;s &#8220;Mad Money Lightning Round,&#8221; emphasizing confidence in the company&#8217;s potential.
Price Action: RDDT stock traded higher by 1.17% to $137.02 at the last check on Wednesday. Reddit stock surged 172% year-to-date.
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41210911/reddit-stock-faces-caution-from-jp-morgan-strong-fundamentals-but-valuation-concern" target="_blank" rel="noreferrer noopener">Reddit Stock Faces Caution from JP Morgan: Strong Fundamentals, But Valuation Concerns Persist</a></li>
</ul>
Photo: Shutterstock

Social Media

Global

Media

RDDT

Reddit Targets India, Brazil To Boost Global User Growth, Revenue

High-rolling investors have positioned themselves bearish on Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in AFRM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Affirm Holdings. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 66% bearish. Among all the options we identified, there was one put, amounting to $31,680, and 11 calls, totaling $540,849.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $80.0 for Affirm Holdings during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Affirm Holdings's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Affirm Holdings's whale activity within a strike price range from $45.0 to $80.0 in the last 30 days. 
<h3>Affirm Holdings Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732731338_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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 align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$24.95</td>
<td>$24.55</td>
<td>$24.9</td>
<td>$60.00</td>
<td>$74.7K</td>
<td>969</td>
<td align="right">30</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/29/24</td>
<td>$22.05</td>
<td>$22.0</td>
<td>$22.0</td>
<td>$45.00</td>
<td>$63.8K</td>
<td>557</td>
<td align="right">33</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.24</td>
<td>$70.00</td>
<td>$63.6K</td>
<td>9.9K</td>
<td align="right">219</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$18.7</td>
<td>$18.25</td>
<td>$18.7</td>
<td>$55.00</td>
<td>$56.1K</td>
<td>2.7K</td>
<td align="right">44</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$21.4</td>
<td>$21.2</td>
<td>$21.32</td>
<td>$47.50</td>
<td>$53.1K</td>
<td>2.7K</td>
<td align="right">26</td>
</tr>
</tbody>
</table>

<h3>About Affirm Holdings</h3>
Affirm Holdings Inc offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. The firm generates its revenue from merchant networks, and through virtual card networks among others. Geographically, it generates a majority share of its revenue from the United States.
Following our analysis of the options activities associated with Affirm Holdings, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Affirm Holdings</h3>
<ul>
<li>With a trading volume of 3,085,236, the price of AFRM is up by 1.14%, reaching $67.03.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 71 days from now.</li>
</ul>
<h3>What The Experts Say On Affirm Holdings</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $67.6.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from JP Morgan persists with their Overweight rating on Affirm Holdings, maintaining a target price of $56. 
&#x2A; An analyst from Mizuho has decided to maintain their Outperform rating on Affirm Holdings, which currently sits at a price target of $69. 
&#x2A; Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Affirm Holdings with a target price of $64. 
&#x2A; Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Affirm Holdings with a target price of $75. 
&#x2A; An analyst from B of A Securities has decided to maintain their Buy rating on Affirm Holdings, which currently sits at a price target of $74. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Affirm Holdings, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

AFRM

Looking At Affirm Holdings's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Sea (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Sea.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $103,500, and 7, calls, for a total amount of $342,595.
<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 $80.0 to $175.0 for Sea over the last 3 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 Sea's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Sea's significant trades, within a strike price range of $80.0 to $175.0, over the past month.
<h3>Sea Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732731333_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</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 align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SE</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$3.65</td>
<td>$3.45</td>
<td>$3.45</td>
<td>$105.00</td>
<td>$103.5K</td>
<td>122</td>
<td align="right">300</td>
</tr>
<tr>
<td>SE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$45.0</td>
<td>$44.35</td>
<td>$45.0</td>
<td>$80.00</td>
<td>$90.0K</td>
<td>3.2K</td>
<td align="right">50</td>
</tr>
<tr>
<td>SE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$4.7</td>
<td>$4.55</td>
<td>$4.55</td>
<td>$165.00</td>
<td>$56.4K</td>
<td>5</td>
<td align="right">126</td>
</tr>
<tr>
<td>SE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$44.9</td>
<td>$43.65</td>
<td>$44.0</td>
<td>$80.00</td>
<td>$44.0K</td>
<td>3.2K</td>
<td align="right">20</td>
</tr>
<tr>
<td>SE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$44.0</td>
<td>$43.9</td>
<td>$43.9</td>
<td>$80.00</td>
<td>$43.9K</td>
<td>3.2K</td>
<td align="right">10</td>
</tr>
</tbody>
</table>

<h3>About Sea</h3>
Sea operates Southeast Asia's largest e-commerce company, Shopee, in terms of gross merchandise value and number of transactions. Sea started as a gaming business, Garena, but in 2015 expanded into e-commerce, which is now the main growth driver. Shopee is a hybrid C2C and B2C marketplace platform operating in eight core markets. Indonesia accounts for 35% of GMV, with the rest split mainly among Taiwan, Vietnam, Thailand, Malaysia, and the Philippines. For Garena, Free Fire was the most downloaded game in January 2022 and accounted for 74% of gaming revenue in 2021. Sea's third business, SeaMoney, provides lending and we foresee it becoming a larger part of the entire business in the long term as its loan book has grown to $3.5 billion in 2024.
After a thorough review of the options trading surrounding Sea, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Sea's Current Market Status</h3>
<ul>
<li>Trading volume stands at 1,170,058, with SE's price up by 0.39%, positioned at $114.38.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 96 days.</li>
</ul>
<h3>Expert Opinions on Sea</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $115.25.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Barclays has decided to maintain their Overweight rating on Sea, which currently sits at a price target of $131. 
&#x2A; An analyst from Phillip Securities has revised its rating downward to Reduce, adjusting the price target to $100. 
&#x2A; Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Sea, targeting a price of $130. 
&#x2A; An analyst from TD Cowen has decided to maintain their Hold rating on Sea, which currently sits at a price target of $100. 
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 Sea options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Check Out What Whales Are Doing With Sea

Investors with a lot of money to spend have taken a bullish stance on DraftKings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DKNG, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 8 uncommon options trades for DraftKings.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $101,742, and 6 are calls, for a total amount of $212,853.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $50.0 for DraftKings, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for DraftKings's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of DraftKings's whale activity within a strike price range from $35.0 to $50.0 in the last 30 days. 
<h3>DraftKings 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732731328_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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 align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$16.5</td>
<td>$16.05</td>
<td>$16.4</td>
<td>$37.00</td>
<td>$70.5K</td>
<td>104</td>
<td align="right">43</td>
</tr>
<tr>
<td>DKNG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$7.85</td>
<td>$7.75</td>
<td>$7.75</td>
<td>$50.00</td>
<td>$68.9K</td>
<td>327</td>
<td align="right">0</td>
</tr>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/29/24</td>
<td>$10.1</td>
<td>$7.45</td>
<td>$8.64</td>
<td>$35.00</td>
<td>$35.0K</td>
<td>68</td>
<td align="right">35</td>
</tr>
<tr>
<td>DKNG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.2</td>
<td>$47.00</td>
<td>$32.7K</td>
<td>1.7K</td>
<td align="right">0</td>
</tr>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$0.77</td>
<td>$0.73</td>
<td>$0.77</td>
<td>$50.00</td>
<td>$28.8K</td>
<td>11.1K</td>
<td align="right">725</td>
</tr>
</tbody>
</table>

<h3>About DraftKings</h3>
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in about 30 states and iGaming in seven states, with both products available to around 40% of Canada's population. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
After a thorough review of the options trading surrounding DraftKings, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of DraftKings</h3>
<ul>
<li>Trading volume stands at 3,724,875, with DKNG's price down by -0.3%, positioned at $42.93.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 78 days.</li>
</ul>
<h3>What The Experts Say On DraftKings</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $55.2.
Unusual Options Activity Detected: Smart Money on the Move
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&#x2A; An analyst from TD Cowen persists with their Buy rating on DraftKings, maintaining a target price of $55. 
&#x2A; An analyst from Macquarie has decided to maintain their Outperform rating on DraftKings, which currently sits at a price target of $51. 
&#x2A; Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $60. 
&#x2A; An analyst from Barclays persists with their Overweight rating on DraftKings, maintaining a target price of $50. 
&#x2A; In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $60. 
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 DraftKings with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

DKNG

Market Whales and Their Recent Bets on DKNG Options

<a href="https://www.marijuanamoment.net/dea-judge-wont-remove-agency-from-marijuana-rescheduling-hearing-but-raises-concerns-about-alleged-unlawful-contact-with-prohibitionists/">https://www.marijuanamoment.net/dea-judge-wont-remove-agency-from-marijuana-rescheduling-hearing-but-raises-concerns-about-alleged-unlawful-contact-with-prohibitionists/</a>
A Drug Enforcement Administration (DEA) judge has denied a motion to remove the agency from its role in an upcoming marijuana rescheduling hearing—though he sharply criticized responses from DEA and a prohibitionist group over an allegation that they unlawfully communicated during the cannabis rulemaking process.
With <a href="https://www.marijuanamoment.net/dea-posts-details-on-next-weeks-marijuana-rescheduling-hearing-including-live-stream-and-documents-portal/">the initial rescheduling hearing set for next week</a>, DEA Administrative Law Judge (ALJ) John Mulrooney has been addressing multiple motions from interested parties, largely centering around witness participation in the proceedings.
But one motion from two designated participants—Hemp for Victory and Village Farms International—made an especially bold assertion: It alleged DEA effectively conspired with Smart Approaches to Marijuana (SAM), an anti-cannabis group that was selected to serve as a witness. And that alleged ex parte communication, coupled with DEA's apparent indecision over the proposed rule, should be grounds to remove the agency as the designated "proponent" of the rescheduling rule.
Mulrooney had already indicated that it's statutorily beyond ALJ authority to take that action, and he formally denied the motion on Wednesday.
"There is no question that the allegations raised by the [ex parte motion (EPM)] are distasteful and arguably unhelpful to the public's perception that the proceedings will be transparent," the order says. "That said, this tribunal is without authority to grant the supplementation and removal relief sought (the only relief sought) by the Movants."
But the judge also took the opportunity to more substantively address the allegations of unlawful communications between DEA and SAM, rebuking both parties' <a href="https://www.marijuanamoment.net/dea-says-it-didnt-conspire-with-anti-marijuana-group-dismissing-allegedly-illegal-talks-as-gossip/">response briefs that categorically denied the claims of misconduct</a>.
He said that, "in view of the nature of the allegations, the denial of the EPM does not finish the job."
After describing ex parte statutes in the Administrative Procedures Act (APA) and Controlled Substances Act (CSA), Mulrooney challenged DEA's "bold declarations" that it was innocent of violating the rules. He wrote that "these seemingly courageous proclamations are quickly all but eviscerated by the Government's surprising qualification that this proclamation of innocence extends only to the ‘DEA counsel of record.'"
That is, DEA denied the improper contacts, but only for its counsel of record in the hearing, whereas the motion that raised the allegations were not limited to only those officials.
"Thus, the Government defended against an allegation that was never actually leveled, and never dealt with the true gravamen of the factual allegations of the EPM," the order says. "Stated differently, the Government responded to an allegation that it created, not the one that was in issue."
"As discussed, supra, the applicable APA provisions are not so slender or lacking in common sense as to limit their applicability to a Government trial team who was never alleged to have made the communication in the first place. In its peculiar, semi-blanket denial, the Government did not happen to address staff members who actually may have made the purported communication, or those who may have been advising the Administrator at the time she was making decisions about whether there would be a rescheduling action, and who (if anyone) would sign the [notice of proposed rulemaking]."
The judge also noted that there's "no indication in its [DEA's response] that the Government has made even the mildest attempt to ascertain the truth and disclose it to the public and this tribunal."
Mulrooney further took SAM to task over its separate response to the allegations. The prohibitionist group maintained, for example, that any ex parte communications would have had to occur after the notice of proposed rulemaking was published, signaling that SAM President Kevin Sabet's talks with confidential sources at DEA that he posted about on social media ahead of the notice would not qualify as unlawful under the statute.
"This argument misleadingly omits from its analysis that portion of the relevant APA section that incorporates the critical qualifier ‘unless the person responsible for the communication has knowledge that it will be noticed, in which case the prohibitions shall apply beginning at the time of his acquisition of such knowledge,'" the order says.
The judge said "it would defy reason to suggest that Dr. Sabet and whoever in the DEA he may have spoken to were not aware that decisions in this matter were imminent."
"Such decisions would include not only whether the DEA Administrator intended to sign and support the goal of the NPRM, but also, who would be ultimately identified as a Designated Participant (or at least, what criteria would be used in reaching that determination)," he said.
"By SAM's reckoning even if a prospective party to a rulemaking proceeding were to spend hours advocating its position to the decider on the day before publication in the Federal Register, that public servant (who would clearly have had knowledge of the publication) would have no obligation to reveal that to a soul; not to the public, not to the parties who were not invited, not to the administrative record, and certainly not to any reviewing courts. This indeed would be a very restrictive view of the ethical obligations of a public servant, and perhaps less transparency than the public might expect from its government."
SAM also contended that there's no evidence that the alleged communications with DEA concerned the merits of the rescheduling proposal, so they could not therefore be considered ex parte.
Mulrooney agreed that merit is a key component of the statute at play, but "as is often the case with secret communications, by design the act of shielding the contents from others inhibits the ability to discover their contents."
"There is no context as to the conversation surrounding Dr. Sabet's social media announcements regarding his ‘two confidential sources inside [the] DEA,' or why those sources would be close enough to the Administrator to render their obvious violations of her confidence to be deemed reliable," he said.
"It is also challenging to interpret the comments Dr. Sabet allegedly posted as a status check. Likewise requiring some level of creativity is reconciling SAM's argument that rescheduling proceedings had not commenced with its current position that Dr. Sabet was performing a status check. Stated differently, if there were no proceedings yet in existence, what would Dr. Sabet have been checking the status of?"
"SAM dismisses the allegation essentially on the basis that others (including some who publicly favor the NPRM) were equally loquacious on social media," the order says. "An inescapable point here is that (unlike SAM) none of those others are DPs in this case, and based on the motion practice to date, many of those not selected to participate do not seem to have an understanding as to why that is true."
In light of all this, the ALJ said his job was then to determine whether the allegation of illegal communications justified an order to have the government and SAM prove their ex parte innocence.
"As unappetizing as this whole misadventure appears, the remedy test for improper ex parte communications is whether the communication materially affected or will affect the way a given case is or has yet been decided," he said.
"Dr. Sabet (for whatever his reasons were) elected to alert the world through social media that he was receiving privileged information from those close to Agency leadership. When he told the world, he also told the Movants. The Movants knew about Dr. Sabet's online bragging before these proceedings began. At this juncture, this question hinges on ‘whether, as a result of improper ex parte communications, the agency's decisionmaking process [has been or would be] irrevocably tainted so as to make the ultimate judgment of the agency unfair, either to an innocent party or to the public interest that the agency [is] obligated to protect.'"
"Here, because I have concluded that, at least based on the papers I have, there is insufficient basis to support such a conclusion, even if every fact alleged in the EPM were assumed arguendo to be accurate, no order to show cause will issue," he said.
That is, without an "ultimate judgment" being rendered in the rescheduling proceedings at this stage, the judge said he could not order DEA or SAM to further establish that they didn't engage in the alleged conduct.
Meanwhile, in a prehearing statement submitted to Mulrooney on Tuesday, <a href="https://www.marijuanamoment.net/federal-health-officials-rejected-deas-request-to-testify-at-marijuana-rescheduling-hearing-agency-tells-judge/">DEA previewed the testimony its own witnesses plan to provide</a>&nbsp;at the upcoming hearing—without clarifying where it stands on the rescheduling proposal.
The agency also said that the U.S. Department of Health and Human Services (HHS)—which carried out a scientific review that informed the proposal to move cannabis to Schedule III—"rejected" its request to provide witnesses.
While the initial preliminary hearing is scheduled for December 2, the merit-based proceedings were delayed until at least early 2025 after Mulrooney notified DEA that it provided insufficient information about&nbsp;<a href="https://www.marijuanamoment.net/dea-judge-issues-order-approving-and-denying-witnesses-for-marijuana-rescheduling-hearing-and-laying-out-next-steps/">the 25 selected witnesses that DEA Administrator Ann Milgram submitted</a>.
Separately, the judge last week&nbsp;<a href="https://www.marijuanamoment.net/researcher-asks-dea-judge-to-postpone-marijuana-rescheduling-hearing-until-after-trump-takes-over/">denied a request from a cannabis and psychedelics researcher</a>&nbsp;to postpone the upcoming rescheduling hearing over the agency's alleged "improper blocking" of witnesses, while arguing that the process should be halted at least until President-elect Donald Trump's administration comes into power so it can review the rulemaking.
Mulrooney also&nbsp;<a href="https://www.marijuanamoment.net/dea-judge-rejects-veterans-groups-petition-to-participate-in-marijuana-rescheduling-hearing/">rejected a veterans group's petition to participate in the rescheduling hearing</a>, which the organization called a "travesty of justice" that excludes key voices that would be affected by the potential policy change.
For what it's worth, Vice President Kamala Harris said recently that part of the reason for the delay in the administration's marijuana rescheduling effort is&nbsp;<a href="https://www.marijuanamoment.net/kamala-harris-blames-marijuana-rescheduling-delay-on-dea-bureaucracy-while-defending-her-own-prosecutorial-record/">federal bureaucracy that "slows things down," including at DEA.</a>
In March, Harris also expressed some frustration with the bureaucratic process of rescheduling marijuana, prior to DOJ's formal recommendation,&nbsp;<a href="https://www.marijuanamoment.net/watch-live-vp-harris-talks-marijuana-ahead-of-white-house-meeting-with-cannabis-pardon-recipients/">calling on DEA to expediently finish the job</a>.
While the Biden–Harris administration facilitated the review that led to the DOJ rescheduling proposal, Trump has also voiced support for the reform.
In Congress, numerous lawmakers have shared their own perspectives on the proposed reform with DEA and DOJ since the Schedule III announcement was made.
In August, for example, Sen. Chuck Grassley (R-IA)&nbsp;<a href="https://www.marijuanamoment.net/gop-senator-demands-answers-on-rush-to-reschedule-marijuana-from-top-biden-administration-officials/">raised concerns about the Biden administration's justification</a>&nbsp;for recommending marijuana rescheduling, demanding answers to questions from federal agencies about how they arrived at that decision in what he described as a rushed and unconventional administrative process.
A week earlier, top Democratic senators—including&nbsp; Senate Majority Leader Chuck Schumer (D-NY)—sent a separate letter to DOJ's Garland and DEA's Milgram urging the agencies to&nbsp;<a href="https://www.marijuanamoment.net/schumer-booker-and-other-senators-push-dea-to-promptly-finalize-marijuana-rescheduling/">"promptly finalize" the rule to reschedule marijuana</a>.
While rescheduling would remove certain research barriers and free up state-licensed cannabis business to take federal tax deductions under the Internal Revenue Service (IRS) code known as 280E, it would not federally legalize marijuana, as the&nbsp;<a href="https://www.marijuanamoment.net/marijuana-businesses-could-advertise-in-newspapers-and-magazines-if-rescheduling-is-approved-congressional-researchers-say/">Congressional Research Service (CRS) has made known in multiple recent reports</a>.
Meanwhile, two additional congressional lawmakers have joined the ranks of GOP members who are challenging what they say is&nbsp;<a href="https://www.marijuanamoment.net/gop-lawmakers-demand-answers-from-biden-administration-about-unusual-marijuana-review-process-behind-rescheduling-push/">the "unusual" process that led the Biden administration to propose rescheduling marijuana</a>, expressing concern about how the review was carried out and demanding answers.
Rep. Doug LaMalfa (R-CA)&nbsp;<a href="https://www.marijuanamoment.net/gop-congressman-says-marijuana-rescheduling-and-banking-reform-would-prop-up-an-immoral-industry/">condemned the Biden administration's push to reclassify marijuana</a>, as well as legislative efforts to enact bipartisan cannabis banking reform, because he says the policy changes would "prop up this immoral industry" and give a "green light to the evil that comes from drug use."
Sen. Bill Cassidy (R-LA) also blasted the Biden administration over what he described as&nbsp;<a href="https://www.marijuanamoment.net/gop-senator-condemns-lack-of-transparency-in-marijuana-rescheduling-process/">repeated refusals from federal agencies to brief Congress</a>&nbsp;on its plans and justification for rescheduling marijuana, which he argues fuels speculation that the proposed policy change is politically motivated.
Similarly, 25 GOP congressional lawmakers sent a public comment letter in July opposing the administration's planned rescheduling of marijuana, specifically alleging&nbsp;<a href="https://www.marijuanamoment.net/gop-lawmakers-push-justice-department-to-reverse-course-on-marijuana-rescheduling/">the government's recommendation was based on politics rather than science</a>.

Legal

AKAN

CRON

GRWG

IMCC

LFLY

MAPS

MSOS

SNDL

TLRY

'DEA Judge Won't Remove Agency From Marijuana Rescheduling Hearing, But Raises Concerns About Alleged Unlawful Contact With Prohibitionists' - Marijuana Moment

U.S. stocks were lower, with the Dow Jones index falling more than 100 points on Wednesday.
Shares of Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) rose sharply during Wednesday's session on the heels of the company's first-quarter financial results. Multiple analysts raised price <a href="https://www.benzinga.com/quote/IREN/earnings">targets following the print</a>.
After the market close on Tuesday, Iris reported first-quarter Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining revenue of $49.6 million. The company reported a 28% increase in AI Cloud Services revenue quarter-over-quarter to $3.2 million.
Iris Energy shares jumped 30.8% to $12.51 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Agora, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/API#NASDAQ">API</a>) gained 26.1% to $5.98.</li>
<li>Arrowhead Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) shares gained 20.9% to $25.45 following FY 2024 results.</li>
<li>Murano Global Investments Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNO#NASDAQ">MRNO</a>) jumped 18.4% to $11.13.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) gained 17.1% to $6.99.</li>
<li>Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) shares surged 16% to $46.58 following third-quarter earnings. Citigroup upgraded the stock to Buy following the report.</li>
<li>Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) gained 14.4% to $4.2802.</li>
<li>Fate Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) gained 14.4% to $3.0650.</li>
<li>Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) shares jumped 12.8% to $27.56.</li>
<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) gained 12.2% to $8.10.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) climbed 7.2% to $18.66.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) shares gained 5.8% to $27.69.</li>
<li>Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) gained 5% to $71.82 after the company on Tuesday reported a year-over-year increase in third-quarter revenue results..</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42213467/urban-outfitters-to-rally-around-47-here-are-10-top-analyst-forecasts-for-wednesday">Urban Outfitters To Rally Around 47%? Here Are 10 Top Analyst Forecasts For Wednesday</a></li>
</ul>

ACHR

AMBA

ARWR

BTBT

FATE

IREN

MNSO

MRNO

Iris Energy, Arrowhead Pharmaceuticals, Urban Outfitters And Other Big Stocks Moving Higher On Wednesday

Macro Economic Events

Econ #s

Economics

U.S. Baker Hughes Oil Rig Count -2 At 477 Vs 479 Prior; U.S. Baker Hughes NatGas Rig Count +1 At 100 Vs 99 Prior; U.S. Baker Hughes Total Rig Count 582 Vs 583 Prior

American beer drinkers could see some of their favorite beverages cost more in the coming years if President-elect Donald Trump's plan to place a 25% tariff on Mexican<a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention"> imports goes through.</a>
What Happened: Trump has promised to put tariffs on countries like China, Mexico and Canada when he is inaugurated as president in January, a move that has <a href="https://www.benzinga.com/24/11/42216863/nvidia-intel-suppliers-rethink-mexico-operations-amid-trumps-tariff-threat">several sectors on high alert </a>as they brace for the impact and likely pass the higher costs onto consumers.
One of the companies that could feel the brunt of the 25% tariff on Mexican imports is Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>), an alcohol company that holds the exclusive U.S license for several of the top imported beer brands in America.
Constellation imports brands like Modelo, Corona and Pacifico from Mexico where they are brewed by Grupo Modelo, which is a unit of Anheuser-Busch InBev SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>).
Data from Statista lists Modelo as the top imported beer in the United States for 2024, with Corona ranking second on the list. Heineken and Dos Equis XX, which are imported by Heineken USA, a unit of Heineken NV (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HEINY#OTC">HEINY</a>), rank third and fourth on the list respectively. Dos Equis is manufactured in Mexico and imported to the U.S.
Modelo is the top-selling beer in America, as <a href="https://www.usatoday.com/story/money/2024/04/06/national-beer-day-2024-history-facts-sales/73225409007/">reported </a>by USA Today. The beer<a href="https://www.benzinga.com/news/23/06/32865676/bud-light-boycott-impact-king-of-beers-owner-dethroned-as-top-selling-u-s-beer-brand"> passed Bud Light </a>for the crown in May 2023 and has maintained the market share lead. Corona Extra is the fifth bestselling beer in the U.S. according to the report, giving Constellation two of the top five bestselling beers in the U.S.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent112724">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Constellation shares fell earlier this week on news of the tariff, which could have a big impact on the company's beer division.
The beer company manufactures all of its beer in Mexico, as <a href="https://www.cnbc.com/2024/11/26/trump-tariff-modelo-corona-constellation-brands.html">reported </a>by CNBC. Beer made up 86% of the company's revenue for the first half of 2024.
A 25% tariff on Mexican imports could raise Constellation's cost of goods sold by around 16%, according to Wells Fargo analyst Chris Carey.
Analysts expect Constellation to raise prices to offset the impact from the tariffs.
While other companies could opt to move manufacturing to the U.S. to offset the impact of the tariffs, Constellation might be stuck. The company has to produce beer brands like Modelo and Corona where AB InBev makes them, as part of an antitrust settlement between the U.S. Department of Justice, AB InBev and Grupo Modelo.
Trump previously proposed a 5% tariff on Mexican imports with plans to raise the amount to 25%, but those tariffs were not put in place previously according to the report.
Mexican President Claudia Sheinbaum suggested tariffs <a href="https://www.benzinga.com/news/global/24/11/42198583/will-trump-lead-us-into-trade-war-with-mexico-president-claudia-sheinbaum-rebukes-threats">on American goods</a> imported to Mexico in response to Trump's plan.
"One tariff will be followed by another in response, and so on until we put common companies at risk," Sheinbaum said.
Sheinbaum <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42219612/usmexico-trade-tensions-escalate-as-mexican-peso-hits-august-2022-lows-why-is-auto-industry-most-at-risk">highlighted American automakers</a> in her comments.
The comments from Trump and Sheinbaum could see tensions escalate between the U.S. and Mexico and a potential trade war taking place.
Consumers would likely be the losers in such a battle and drinking beers that come from Mexico will likely cost Americans more in the coming months.
STZ Price Action: Constellation Brands stock is up 1.17% to $236.57 on Wednesday versus a 52-week trading range of $224.76 to $274.87. Constellation stock is down 3% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/09/41051661/mark-cuban-compares-donald-trump-small-businesses-to-hammers-and-nails-do-you-want-to-be-underne">Mark Cuban Compares Donald Trump, Small Businesses To Hammers And Nails: &#8216;Do You Want To Be Underneath A Hammer?&#8217;</a></li>
</ul>
Photo: 8th.creator via Shutterstock

Politics

HEINY

Trump Tariffs On Mexico Could Affect Beer: Why Your Modelo, Corona Could Cost More Next Year

Providing a diverse range of perspectives from bullish to bearish, 12 analysts have published ratings on PagerDuty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>) in the last three months.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">3</td>
<td align="right">2</td>
<td align="right">7</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">6</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $21.25, a high estimate of $26.00, and a low estimate of $18.00. Observing a downward trend, the current average is 13.27% lower than the prior average price target of $24.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1732730500_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The standing of PagerDuty among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Matthew Hedberg</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$24.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Pinjalim Bora</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Pinjalim Bora</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$21.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Kingsley Crane</td>
<td>Canaccord Genuity</td>
<td>Lowers</td>
<td>Buy</td>
<td>$24.00</td>
<td>$26.00</td>
</tr>
<tr>
<td>J. Derrick Wood</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$19.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Kash Rangan</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$21.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Matthew Hedberg</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$22.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Nick Altmann</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$18.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Chad Bennett</td>
<td>Craig-Hallum</td>
<td>Lowers</td>
<td>Buy</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Sanjit Singh</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$19.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Koji Ikeda</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$23.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Robert Oliver</td>
<td>Baird</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$22.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to PagerDuty. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of PagerDuty compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of PagerDuty's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into PagerDuty's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PD/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on PagerDuty analyst ratings.</a>
<h2>Discovering PagerDuty: A Closer Look</h2>
PagerDuty Inc is a digital operations management platform that manages urgent and mission-critical work for a modern, digital business. Its platform harnesses digital signals from virtually any software-enabled system or device and combines it with human response data to take the right actions in real-time. The product offerings of the company include PagerDuty Incident Management, DevOps, AIOPs, Process Automation, and Customer Service Operations.
<h3>Key Indicators: PagerDuty's Financial Health</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: PagerDuty's revenue growth over a period of 3 months has been noteworthy. As of 31 July, 2024, the company achieved a revenue growth rate of approximately 7.73%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -11.42%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -7.82%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -1.44%, the company showcases effective utilization of assets.
Debt Management: PagerDuty's debt-to-equity ratio stands notably higher than the industry average, reaching 2.8. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>What Are Analyst Ratings?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings For PagerDuty

Providing a diverse range of perspectives from bullish to bearish, 9 analysts have published ratings on Prudential Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>) in the last three months.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">9</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Prudential Financial and provided 12-month price targets. The average target is $124.22, accompanied by a high estimate of $140.00 and a low estimate of $116.00. Surpassing the previous average price target of $117.71, the current average has increased by 5.53%.
<img src="https://www.benzinga.com/files/images/story/2024/1732730485_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Prudential Financial. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Daniel Bergman</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$133.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Thomas Gallagher</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$140.00</td>
<td>$117.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$117.00</td>
<td>$116.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$119.00</td>
<td>$118.00</td>
</tr>
<tr>
<td>Jay Cohen</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$118.00</td>
<td>$109.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$116.00</td>
<td>$113.00</td>
</tr>
<tr>
<td>Daniel Bergman</td>
<td>TD Cowen</td>
<td>Announces</td>
<td>Hold</td>
<td>$130.00</td>
<td>-</td>
</tr>
<tr>
<td>John Barnidge</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$127.00</td>
<td>$121.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$118.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Prudential Financial. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Prudential Financial compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Prudential Financial's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Prudential Financial's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PRU/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Prudential Financial analyst ratings.</a>
<h2>Get to Know Prudential Financial Better</h2>
Prudential Financial is a large, diversified insurance company offering annuities, life insurance, retirement plan services, and asset management products. While it operates in a number of countries, the vast majority of revenue is generated in the United States and Japan. The company's investment management business, PGIM, contributes approximately 10% of its earnings and has around $1.3 trillion in assets under management. The US businesses are responsible for about 50% of earnings and can be classified into Institutional Retirement Strategies, Individual Retirement Strategies, Group Insurance, Individual Life Insurance, and Assurance IQ. Finally, the international business segment of the company contributes approximately 40% of earnings with a strong market position in Japan.
<h3>Understanding the Numbers: Prudential Financial's Finances</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Positive Revenue Trend: Examining Prudential Financial's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 131.38% as of 30 September, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Financials sector.
Net Margin: Prudential Financial's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 2.27%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Prudential Financial's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 1.52%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Prudential Financial's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.06%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a high debt-to-equity ratio of 0.71, Prudential Financial faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;utm_source=benzinga-insights">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Assessing Prudential Financial: Insights From 9 Financial Analysts

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