Option chain shows key data for First Republic Bank's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for First Republic Bank.

First Republic Bank (OTC:FRCB) Stock, Option Chain

First Republic Bank offers private banking and wealth management services to high-net-worth clients. Services are offered in the San Francisco, New York City, and Los Angeles markets. The bank was founded in 1985.

Jamie Dimon

News

General

FIRST REPUBLIC BK CA by First Republic Bank (San Francisco, California)

FRCB

The filing also highlighted the board&#39;s appreciation for Dimon&#39;s leadership, which has steered the bank to achieve its highest-ever profit in the history of American banking. The bank&#39;s revenue for 2023 stood at $49.6 billion.

Jamie Dimon&#39;s Pay Soars To $36M In 2023 As JPMorgan Secures Highest-Ever Profit

Kevin O'Leary

Economics

Federal Reserve

Media

&#39;Shark Tank&#39;s&#39; Kevin O&#39;Leary Says Rising Rates Are Killing Regional Banks: &#39;We&#39;ve Started To See The Cracks&#39;

Goldman Sachs Apple Card

Earnings

Equities

Tech

AAPL

Is Goldman Sachs Bleeding From Apple Card Tieup? What A Closer Look At Q2 Results Reveals

First Republic Bank

EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>), the world's leading Urban Air Mobility ("UAM") technology platform company, today announced that the Company's Board of Directors has approved a Share Repurchase Program, pursuant to which the Company may repurchase up to&nbsp;US$30&nbsp;million of its American Depositary Shares ("ADSs") or ordinary shares over the next 12 months.

Buybacks

EHang Holdings' Board Approved A Share Buyback Program Of Up To $30M ADSs Over Next 12 Months

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Xenetic Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XBIO#NASDAQ">XBIO</a>) with a Neutral.

Reiteration

Analyst Ratings

XBIO

HC Wainwright & Co. Reiterates Neutral on Xenetic Biosciences

HC Wainwright &amp; Co. analyst Oren Livnat reiterates Jazz Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAZZ#NASDAQ">JAZZ</a>) with a Buy and maintains $200 price target.

Price Target

JAZZ

HC Wainwright & Co. Reiterates Buy on Jazz Pharmaceuticals, Maintains $200 Price Target

Piper Sandler analyst Arvind Ramnani maintains Intuit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) with a Overweight and lowers the price target from $768 to $765.

INTU

Piper Sandler Maintains Overweight on Intuit, Lowers Price Target to $765

PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) today announced its agreement to acquire the remaining 50% interest in Sabra Dipping Company, LLC (Sabra) and PepsiCo-Strauss Fresh Dips &amp; Spreads International GmbH (Obela) and become the sole owner of these companies, which make Sabra and Obela products.
&nbsp;
Sabra and Obela are currently 50/50 joint ventures that had been formed between PepsiCo and Strauss Group to manufacture, distribute, and sell refrigerated dips and spreads. The Sabra joint venture is based in New York and operates in the U.S. and Canada. The Obela joint venture is based in Geneva and operates in Australia, New Zealand and Mexico.
PepsiCo has focused on the fresh dips category for over 15 years, forming Sabra and Obela as 50/50 joint ventures with the Strauss Group in 2008 and 2012, respectively. Sabra has become a leading hummus brand with nearly $400MM in retail sales in the U.S. This transaction will enable PepsiCo to continue to transform its portfolio and drive accelerated innovation to develop more products that meet the growing demand for positive choices from North American consumers.

PepsiCo Secures Full Ownership of Sabra and Obela with 50% Buyout

Piper Sandler analyst Brent Bracelin maintains Procore Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) with a Overweight and raises the price target from $70 to $90.

PCOR

Piper Sandler Maintains Overweight on Procore Technologies, Raises Price Target to $90

Shares of Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) nosedived by 6.2% to $148.11 per share in premarket, despite closing 16% higher at $158.02 apiece on Thursday. Technical analysis points towards a bullish trend, with the stock trading at overbought levels.
What Happened: Reddit&#8217;s shareholder, Advance Magazine Publishers Inc. plans to sell as much as $1.2 billion of the company&#8217;s stake, <a href="https://www.bloomberg.com/news/articles/2024-11-21/advance-magazine-said-to-seek-1-2-billion-in-reddit-share-sale">reported</a> Bloomberg on Friday morning. The company is said to be offering 7.8 million shares in between the range of $145.38-$148.54 each.
Advance Magazine Publishers is an arm of the Newhouse family publishing empire that owns Conde Nast. The company seeks to establish a credit facility using Reddit&#8217;s stake, while buying derivatives on Reddit&#8217;s shares, which allow it to indirectly maintain an ownership stake, reported Bloomberg.
Apart from this, Reddit faced an outage <a href="https://www.benzinga.com/24/11/42118134/reddit-resolves-another-outage-after-morning-disruptions-impact-72000-users">on Wednesday and Thursday</a> this week. This outage stems from an HTTP error, as per TechCrunch. The platform was able to resolve the issue later.
Also read: <a href="https://www.benzinga.com/24/11/42118134/reddit-resolves-another-outage-after-morning-disruptions-impact-72000-users">Reddit Suffers Second Disruption In Two Days</a>
Why It Matters: Technical analysis points towards strong support for the RDDT stock.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="276" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-1024x276.png" alt="" class="wp-image-660516" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-1024x276.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-300x81.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-768x207.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-1536x414.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final.png 1737w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Thursday&#8217;s closing price of $158.02 sits above its eight, 20, and 50-day simple moving averages, signaling a bullish trend. However, the stock's distance from its 100-day moving average of $75.59 suggests potential selling opportunities with the relative strength index of 79.18 indicating overbought conditions.
While RDDT stock could face volatility, if the stake sale report holds true its recent upgrade from Piper Sandler citing strong user growth metrics, makes it attractive in the longer term.
According to <a href="https://www.benzinga.com/quote/RDDT/analyst-ratings">Benzinga pro data</a>, Reddit has a consensus price target of $92.84 based on the ratings of 19 analysts. The high is $150 per share issued by Piper Sandler on Nov. 19 and the low is $54 apiece issued by New Street Research on March 26, 2024.
The average price target of $118.33 between Piper Sandler, Bernstein, and Citigroup implies a 19.28% downside for Reddit.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="374" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings-1024x374.png" alt="" class="wp-image-660511" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings-1024x374.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings-300x110.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings-768x280.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings.png 1071w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read next: <a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures">Donald Trump&#8217;s DOGE Initiative To Have &#8216;Marginal Impact&#8217; Says Analyst As Elon Musk Aims To Target Over $500B In Federal Expenditures</a>
Image via Shutterstock

Markets

RDDT

Reddit Tumbles 7% In Premarket Amid Advance's Stake Sale Announcement: Technicals Show Strong Support, But Selling Pressure Persists At Overbought Levels

Piper Sandler analyst Arvind Ramnani assumes PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) with a Neutral rating and announces Price Target of $88.

Initiation

PYPL

Piper Sandler Assumes PayPal Holdings at Neutral, Announces Price Target of $88

Outlook
For the fourth quarter of 2024, Sunlands currently expects net revenues to be between RMB450 million to RMB470 million, which would represent a decrease of 13.2% to 16.9% year-over-year.

Guidance

Sunlands Technology Expects Q4 Net Revenue Of RMB450M-RMB470M, Down By 13.2%-16.9% YoY

Sunlands Technology Q3 EPS $1.86 Up From $1.31 YoY, Sales $70.00M Down From $71.91M YoY

South Korean automaker Hyundai Motor Co&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) incoming CEO Jose Munoz is optimistic about the future of electric vehicles despite fears of EV tariffs and incentives getting dropped or reduced under the upcoming Donald Trump presidency.
What Happened: Hyundai decided to make a big investment in America during the previous Trump administration before the introduction of the Inflation Reduction Act (IRA) which provides incentives for the manufacturing of electric vehicles in the U.S., Munoz said in an <a href="https://www.youtube.com/watch?v=1E3zF6S2JaQ">interview </a>with CNBC. 
&#8220;The fact that Elon Musk is so close to Trump is probably good for electric vehicles, not bad. We are not planning our business based on incentives. We want to produce really great vehicles with great features,&#8221; he said. Munoz&#8217;s appointment as co-CEO of Hyundai will be <a href="https://www.benzinga.com/tech/24/11/42004380/hyundai-gears-up-for-trumps-return-to-white-house-elevates-us-chief-jose-munoz-to-co-ceo-appoints-former-us-diplomat-to-manage-external-affairs">effective from January. </a>
Why It Matters: In November 2023, Hyundai announced that it would <a href="https://www.benzinga.com/news/23/11/35768916/hyundai-announces-25-wage-hike-for-alabama-and-georgia-production-team-amid-labour-unrest">invest $12.6 billion in EV and battery manufacturing facilities in Georgia</a>, making it its largest investment outside South Korea. The first electric vehicle rolled off the assembly line in Georgia in October. 
Earlier this week, the company unveiled its Ioniq 9 three-row SUV which will roll out in the U.S. early next year. The Ioniq 9 will be up against other 3-row SUVs from rival automakers including Lucid Motors and General Motors and will be manufactured in Georgia. 
Hyundai now aims to have a lineup of 23 EV models by 2030.
Meanwhile, Wedbush analyst Dan Ives said Trump&#8217;s plan to get rid of consumer tax credits for EVs is actually not positive for Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Eliminating the EV tax credit could pose a major challenge to the United States&#8217; EV transition. However, Musk, a prominent supporter of Trump, has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">reportedly expressed his support </a>to Trump's team for ending the EV tax credit.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42058338/byd-makes-a-million-nevs-in-less-than-2-months" target="_blank" rel="noreferrer noopener">BYD Makes A Million NEVs In Less Than 2 Months After Beating Tesla For The First Time Since 2022 In Quarterly Revenue</a></li>
</ul>
Image via Flickr

HYMTF

TSLA

Tesla CEO Elon Musk's Proximity To Trump Will Benefit EV Industry, Says Incoming Hyundai CEO As He Shrugs Off Potential Tariff Threats

Mark Zuckerberg-led Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) on Thursday announced new efforts to combat the growing <a href="https://www.benzinga.com/markets/cryptocurrency/23/06/32920991/woman-falls-for-crypto-scammer-on-tinder-loses-entire-401-k-savings-of-100-000">threat of &#8220;pig butchering&#8221; scams</a>, which have cost Americans billions of dollars each year.
What Happened: Pig butchering scams typically involve scammers building fake online relationships with victims before convincing them to invest in fraudulent investment schemes, often involving cryptocurrency.
These scams take months to develop, with scammers using dating apps, social media platforms, and messaging apps like Telegram and WhatsApp <a href="https://www.benzinga.com/news/24/07/39991479/ferrari-executive-targeted-by-deepfake-scam-report">to lure in victims</a>.
The U.S. Institute of Peace estimates that up to 300,000 individuals were coerced into participating in scams globally by these criminal organizations, resulting in about $64 billion in stolen funds annually as of 2023.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle">Meta Confirms Layoffs Across Instagram, WhatsApp And Reality Labs Amid Strategic Reshuffle</a>
According to Meta, the tech giant has taken down more than 2 million scam-related accounts this year and will begin flagging potential scam messages across its platforms, including Facebook, Instagram, and WhatsApp.
Meta is sharing information with international law enforcement to help identify and shut down criminal networks behind these scams.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Pig butchering scams are a growing issue, with the FBI reporting nearly $12.5 billion in losses from online fraud in 2023 alone, marking a 22% increase from the previous year.
In May 2024, Meta, Match Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>), the owner of Tinder and Hinge, and several cryptocurrency firms formed a coalition.
Known as the &#8220;Tech Against Scams&#8221; coalition, these companies committed to exchanging information about scammers and improving user education.
However, that doesn't mean Zuckerberg's Meta has not faced criticism for its role in Fraud cases.
Earlier this year, South Korea&#8217;s antitrust regulator examined the possibility of <a href="https://www.benzinga.com/news/24/03/37554106/facebook-and-instagrams-marketplace-practices-under-ftc-radar-in-south-korea-for-user-safety-slip-up">sanctions against Meta</a> over alleged failures in consumer protection on its online marketplaces.
In December 2022, Zuckerberg faced a lawsuit for his platform&#8217;s involvement in a <a href="https://www.benzinga.com/markets/cryptocurrency/23/08/33981694/facebook-faces-expulsion-from-thailand-for-failing-to-crack-down-on-scams">marijuana investment scam</a>.
Some anti-scam advocates believe tech companies&#8217; efforts to combat pig butchering are insufficient and delayed.
Jake Sims, co-founder of Operation Shamrock, a global coalition dedicated to tackling scams and the criminal networks behind them, stated that merely warning users and occasionally removing accounts doesn&#8217;t address the full scope of the criminal activity involved.
&#8220;After three years of Meta's awareness of this problem on their platforms, the situation is getting worse, not better,&#8221; Sims <a href="https://www.nbcnews.com/tech/security/meta-removes-2-million-accounts-related-pig-butchering-scams-rcna181025">told</a> NBC News.
Price Action: Meta&#8217;s shares fell by 0.43% on Thursday, closing at $563.09, and dropped an additional 0.34% in after-hours trading, reaching $561.18 as of this writing, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/global/24/11/42053801/alphabets-life-sciences-firm-verily-to-become-a-standalone-entity-disconnect-from-google">Alphabet's Life Sciences Firm Verily To Become A Standalone Entity, Disconnect From Google</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Meta

Social Media

MTCH

Mark Zuckerberg's Meta Cracks Down On $64B 'Pig Butchering' Scams Involving Dating Apps, Social Media And Crypto Investing

Macro Economic Events

Econ #s

Germany Services Purchasing Managers Index Preliminary For November 49.4 Vs. 51.8 Est.; 51.6 Prior

<h3>Companies Reporting Before The Bell</h3>
• Dynagas LNG Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLNG#NYSE">DLNG</a>) is estimated to report quarterly earnings at $0.28 per share on revenue of $38.34 million. 
• Pyxis Tankers (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PXS#NASDAQ">PXS</a>) is projected to report earnings for its third quarter. 
• Global Blue Gr Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GB#NYSE">GB</a>) is expected to report quarterly earnings at $0.07 per share on revenue of $135.94 million. 
• ZKH Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZKH#NYSE">ZKH</a>) is likely to report earnings for its third quarter. 
• IES Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IESC#NASDAQ">IESC</a>) is projected to report earnings for its fourth quarter. 
• Addex Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADXN#NASDAQ">ADXN</a>) is projected to report earnings for its third quarter. 
• Sunlands Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STG#NYSE">STG</a>) is expected to report earnings for its third quarter. 
• Destination XL Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXLG#NASDAQ">DXLG</a>) is estimated to report quarterly earnings at $0.03 per share on revenue of $113.46 million. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ADXN

DLNG

DXLG

IESC

Earnings Scheduled For November 22, 2024

Germany Manufacturing Purchasing Managers Index Preliminary For November 43.2 Vs. 43.1 Est.; 43.0 Prior

France Services Purchasing Managers Index Preliminary For November 45.7 Vs. 49.0 Est.; 49.2 Prior

France Manufacturing Purchasing Managers Index Preliminary For November 43.2 Vs. 44.6 Est.; 44.5 Prior

STNE

Reported Earlier, StoneCo Announces R$2B Repurchase Plan, Replacing Previous Buyback Program

BENF

Reported Earlier, Beneficient Highlights TEFFI Impact: $126M Equity Gain, $3M Grants, And $5B Financing Capacity

Huawei Technologies Co. is reportedly set to release its most advanced domestically made chip in the Mate 70 series, amid ongoing U.S. sanctions.
What Happened: The new chip will power select models in Huawei's Mate 70 lineup, which is expected to launch next week, <a href="https://www.wsj.com/tech/huaweis-chip-advances-threaten-apple-in-china-165a1e9e?mod=tech_lead_story">reported</a> the Wall Street Journal, citing people familiar with the matter.
The launch comes as Huawei continues to increase its market share in China, where it has seen a rise in consumer demand.
In the third quarter of this year, Huawei's market share in China grew to 15.3% from 8.6% last year, positioning it as a significant competitor to Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in the high-end smartphone market.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41017367/huawei-riding-high-on-trifold-success-launches-revolutionary-laptop-powered-by-homegrown-chips-softw">Huawei, Riding High On Trifold Success, Launches Revolutionary Laptop Powered By Homegrown Chips, Software — China Ready To Break Free From US Tech Dependence?</a>
The new chips, produced by Semiconductor Manufacturing International Corporation or SMIC, leverage advanced technologies to improve performance and power efficiency, allowing Huawei to compete more effectively with Apple's offerings.
&#8220;The Mate 70 will continue to put more pressure on Apple in China,&#8221; said IDC vice president Bryan Ma, according to the report.
Although Huawei's chips still lag behind Apple's in terms of power efficiency, he noted that the difference may not be significant as long as users can get through the day without worrying about charging, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This development coincides with an earlier report that suggested Huawei plans to begin <a href="https://www.benzinga.com/news/24/11/42105518/huawei-to-reportedly-take-on-nvidia-with-mass-production-of-new-ai-chips-by-2025-amid-us-restrictions">mass production of its new AI chip</a>, the Ascend 910C, in early 2025, despite facing major challenges from U.S. trade restrictions.
In May earlier this year, the Joe Biden administration <a href="https://www.benzinga.com/markets/asia/24/05/38682654/biden-administration-tightens-grip-on-chinas-huawei-revokes-key-export-licenses-from-us-chipmakers">canceled export licenses</a> for leading U.S. semiconductor companies such as Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), blocking them from providing essential chips to Huawei.
During the same month, a report from Counterpoint Research suggested that <a href="https://www.benzinga.com/news/24/05/39107001/after-apple-huawei-takes-on-samsung-in-race-to-become-worlds-top-foldable-phone-maker-report">Huawei surpassed</a> Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) in global foldable smartphone shipments for the first quarter of 2024.
Last month, U.S. lawmakers called on the Department of Commerce to take stronger measures against Huawei&#8217;s reported efforts to evade sanctions by using a <a href="https://www.benzinga.com/markets/asia/24/10/41368844/us-lawmakers-demand-tougher-action-on-huaweis-secretive-chip-network">covert network of semiconductor facilities</a>.
Price Action: At the time of writing, Apple shares increased by 0.02% to $228.56 in after-hours trading, following a 0.21% decline to $228.52 during Thursday's regular session, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40953906/huaweis-2-800-tri-fold-mate-xt-sparks-frustration-as-limited-stock-fails-to-meet-demand">Huawei&#8217;s $2,800 Tri-Fold Mate XT Sparks Frustration As Limited Stock Fails To Meet Demand</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Global

INTC

QCOM

SSNLF

Apple Faces New Challenge As Huawei Advances Domestic Chip Tech In Mate 70 Series Amid US Sanctions: Report

Regional banks' Q4 results show NII pressure likely to persist in 2024

ClearBridge Sustainability Leaders Strategy Q4 2023 Portfolio Manager Commentary

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Last week, I wrote how 2024 would be <a href="https://investorplace.com/2024/01/5-a-rated-stocks-buy-in-2024">all about earnings</a>. Corporate fortunes are diverging, interest rates are stabilizing, and 2024 is shaping up to be a year when company performance matters more than big-picture macroeconomic stories.



We&rsquo;re already seeing these effects. Last Wednesday, Taiwan Semiconductor Manufacturing (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>) announced that its December revenues had handily beat expectations. The news would send Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) up 2% and Advanced Micro Devices (NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>) down 2%. It turns out AI chips are booming, but consumer electronics are not.



Similar trends are emerging in everything from streaming services to uranium miners. We&rsquo;re no longer in a &ldquo;rising tide&rdquo; environment where every company moves in the same direction. And that means investors need to keep a close eye on corporate performance. 



To separate these winning firms from the laggards, InvestorPlace analyst Louis Navellier has long used earnings revisions as a key metric. Companies with rising Wall Street forecasts tend to perform better even after the forecasts have been publicly announced, while those with declining revisions tend to underperform long after the news. These insights have long been incorporated in his proven <a href="https://navelliergrowth.investorplace.com/portfolio-grader">Portfolio Grader</a> system and have helped Louis uncover the top-performing stock on the S&amp;P 500 every year for 12 years running. 



In 2023, we saw this effect play out in black and white (or red and green). An investor who bought the 10 companies with the highest upward revisions in the S&amp;P 500 would have walked away with a 25.5% gain. That included companies like chipmaker Qualcomm (NASDAQ:<a href="https://investorplace.com/stock-quotes/qcom-stock-quote/">QCOM</a>) and cruise liner Carnival (NYSE:<a href="https://investorplace.com/stock-quotes/ccl-stock-quote/">CCL</a>). The former saw its 2023 earnings growth revised from 3.3% to 19.6% in Q4 2022&hellip; and subsequently saw shares rise 35% over the following 12 months. The latter would jump 130% over the same period! 



Meanwhile, those buying the bottom-10 companies would have fared far worse. Among these firms were Mohawk Industries (NYSE:<a href="https://investorplace.com/stock-quotes/mhk-stock-quote/">MHK</a>) and United Parcel Service (NYSE:<a href="https://investorplace.com/stock-quotes/ups-stock-quote/">UPS</a>), which essentially ended the year flat. Those buying the bottom-30 firms by earnings revisions would have also landed companies like Signature Bank (OTCMKTS:<a href="https://investorplace.com/stock-quotes/sbny-stock-quote/">SBNY</a>) and First Republic Bank (OTCMKTS:<a href="https://investorplace.com/stock-quotes/frcb-stock-quote/">FRCB</a>), two now-bankrupt firms. 



<h2>How to Invest for 2024</h2>



We&rsquo;ll see even more of these divergences this year. As I wrote here last week, investors are <a href="https://investorplace.com/2024/01/5-a-rated-stocks-buy-in-2024">running out of patience with startups</a> like QuantumScape (NYSE:<a href="https://investorplace.com/stock-quotes/qs-stock-quote/">QS</a>). Competitors like BYD (NYSE:<a href="https://investorplace.com/stock-quotes/byddy-stock-quote/">BYDDY</a>) are racing ahead, and startups are finding it harder than before to raise cheap capital.



That means investors will need to keep a close eye on earnings revisions in 2024. To get you started, the writers and analysts at InvestorPlace.com, our free news site, write this week on five companies that look set to succeed in the coming year.



<h2>5 Surging Growth Stocks to Buy: Duolingo (DUOL)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/07/shutterstock_1668567226-300x169.jpg" alt="DUOL stock: A phone displaying the duolingo logo in front of a computer screen displaying the duolingo site"><div>Source: dennizn / Shutterstock</div></div>


A-rated language-learning app Duolingo (NASDAQ:<a href="https://investorplace.com/stock-quotes/duol-stock-quote/">DUOL</a>) has one of the highest upward earnings revisions in the Russell 3000 index. Over the last quarter, the Pittsburgh-based tech firm has seen its 2024 earnings estimates rise from 15 cents to 82 cents, a fivefold increase.



As Marc Guberti notes in a recent update for InvestorPlace.com, much of this has to do with Duolingo&rsquo;s <a href="https://investorplace.com/2024/01/the-3-hottest-growth-stocks-to-watch-in-2024">expansion into new services</a>, which is keeping user growth high. He notes how the app grew daily active users by 63% last quarter and has raised its full-year guidance as a result.



Josh Enomoto also notes how Duolingo has been aggressively <a href="https://investorplace.com/2024/01/duolingo-layoffs-2024-what-to-know-about-the-latest-duol-job-cuts/">using AI to reduce workforce expenses and create new content</a>. The company is now using artificial intelligence to help create work &ldquo;dramatically faster&rdquo; than before.



Of course, Duolingo isn&rsquo;t for everyone. As Guberti warns, the company&rsquo;s high growth means shares trade at a significant premium at 119 times forward earnings. But the numbers are clear: Duolingo remains a high-growth company that&rsquo;s transitioning itself from negative to positive earnings. If it continues to maintain such growth, history tells us that Duolingo has plenty of upside ahead.



<h2>2. Spotify (SPOT)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/spot1600-300x169.jpg" alt="Spotify (SPOT) logo is on the screen of a smartphone with headphones plugged in."><div>Source: Kaspars Grinvalds / Shutterstock.com</div></div>


A-rated Spotify (NASDAQ:<a href="https://investorplace.com/stock-quotes/spot-stock-quote/">SPOT</a>) gets a special mention in Louis Navellier&rsquo;s Market360 this week. The online streaming service has been accumulating new subscribers <a href="https://investorplace.com/market360/2024/01/7-a-rated-consumer-discretionary-stocks-to-buy-for-the-new-year">at an astonishing rate</a>, and earnings have been revised up as a result. During the fourth quarter, Wall Street analysts moved their fiscal year 2024 earnings estimates from 37 cents per share to $2.10 &ndash; one of the highest revisions on the market.



Here&rsquo;s more from Louis and his team:




Spotify currently has 574 million monthly average users &ndash; up 26% from a year ago. Of those, 226 million are premium users, providing Spotify with most of its revenue. In the third quarter, Spotify generated $2.91 billion from its premium members, and only $447 million through advertising directed at its free users.



The trick will be for Spotify to continue to convert free users to premium members. As it does that, the profits will continue to rise.




At InvestorPlace.com, Muslim Farooque agrees. He picks Walt Disney (NYSE:<a href="https://investorplace.com/stock-quotes/dis-stock-quote/">DIS</a>), Netflix (NASDAQ:<a href="https://investorplace.com/stock-quotes/nflx-stock-quote/">NFLX</a>), and Spotify as his top <a href="https://investorplace.com/2023/12/3-stocks-to-play-the-rise-of-the-subscription-economy/">3 Stocks to Play the Rise of the Subscription Economy</a>. 



Streaming services can only succeed if they have a critical mass of content. And as the leading firm in music and podcast streaming, Spotify likely will have the easiest time expanding its user base while monetizing existing customers.



<h2>3. GitLab (GTLB)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/gtlb1600-300x169.png" alt="In this photo illustration the GitLab (GTLB) logo seen displayed on a smartphone screen."><div>Source: rafapress / Shutterstock.com</div></div>


In December, at InvestorPlace.com, Yiannis Zourmpanos noted how software development and IT operations (DevOps) platform company GitLab (NASDAQ:<a href="https://investorplace.com/stock-quotes/gtlb-stock-quote/">GTLB</a>) was expanding its business with high-value customers. He believes this disruptive tech stock <a href="https://investorplace.com/2023/12/3-disruptive-tech-stocks-set-to-soar-by-2025/">is set to soar by 2025</a>:




A substantial 37% year-over-year growth, from 638 customers to 874, suggests GitLab&rsquo;s lead in attracting and retaining larger enterprises&hellip; GitLab&rsquo;s consistently high dollar-based net retention rate was 128% in Q3. This reflects the company&rsquo;s success in expanding revenue within its existing customer base.




The numbers suggest the same outcome. Over the past three months, analysts have revised their forward earnings estimates from 16 cents to 35 cents, more than doubling initial forecasts. In short, GitLab is bringing AI to software development and deployment, and renewed focus on AI-enhanced productivity tools has put the San Francisco-based firm&rsquo;s growth into high gear.



Analyst Luke Lango rightly agrees. In a <a href="https://investorplace.com/earlystageinvestor/special-reports/our-top-10-investment-themes-for-2024">special report</a> for Early Stage Investor (subscription required) he calls GitLab one of the Top 5 &ldquo;highest-quality AI software applications&rdquo; to buy for 2024, and says that shares have &ldquo;likely upside into and beyond 2025.&rdquo; Though few outside the industry have ever heard of GitLab, that matters little for a firm growing earnings at such a rapid clip.



<h2>4. SoFi (SOFI)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/ipoe-sofi-1600-300x169.jpg" alt="the Social Finance (SoFi stock) logo is displayed on a smartphone."><div>Source: rafapress / Shutterstock.com</div></div>


This week, Louis&rsquo; team also highlights SoFi Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/sofi-stock-quote/">SOFI</a>) as a company where <a href="https://investorplace.com/market360/2024/01/why-wall-street-may-soon-turn-back-to-bullish-on-sofi-stock">Wall Street May Soon Turn Back to Bullish</a>. The New Year&rsquo;s selloff has pushed SoFi&rsquo;s shares back into the $8 range, and a potentially strong earnings release due on Jan. 29 could send shares higher:




The next big event for SOFI stock is just a few weeks away. That would be the release of the company&rsquo;s Q4/full year 2023 results, post-market on Jan. 29&hellip;



Much suggests that SoFi will crush it again with results this quarter, as it did last quarter. With the student loan moratorium lifted and SoFi&rsquo;s non-student lending operations growing, the company is likely to report its first profitable quarter.




The online banking firm has seen a strong upward revision in earnings. Over the past quarter, analysts have doubled their 2024 earnings per share estimates from 3 cents to 6 cents. 2025 earnings expectations are now as high as 23 cents.



That&rsquo;s because banks (and fintechs) tend to benefit when rates are elevated, since they can earn higher risk-free interest on customer deposits. SoFi also lacks a corporate-lending business, which tend to see fewer benefits of rising rates.



Analysts expect SoFi&rsquo;s net interest income (the profits generated from this lending activity) to more than double this fiscal year to $1.3 billion, eclipsing the revenues earned from other activities.



<h2>5. DraftKings (DKNG)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/draftkings-300x169.jpg" alt="DraftKings (DKNG) logo, magnified, on its app."><div>Source: Lori Butcher/Shutterstock.com</div></div>


Finally, Faisal Humayun hones in on DraftKings (NASDAQ:<a href="https://investorplace.com/stock-quotes/dkng-stock-quote/">DKNG</a>) this week at InvestorPlace.com as a stock <a href="https://investorplace.com/2024/01/7-stocks-primed-to-explode-your-net-worth-by-2030">Primed to Explode Your Net Worth by 2030</a>. The firm has a strong business, Humayun says, and is supported by industry tailwinds:




DraftKings has surged by 183% in the last 12 months. The rally from deeply oversold levels is likely to sustain with profitability on the horizon. Further, with a big addressable market for online sports betting (OSB) and iGaming, I believe that DKNG stock will continue to create value.




Essentially, DraftKings is rising on a wave of gambling legalizations. U.S. governors are seeing how states like New York are plugging funding gaps with new gaming tax revenues. And everyone wants a piece.



Since October, analysts have revised their next-year earnings estimates for DraftKings from negative 50 cents to negative 26 cents, a 50% improvement. And 2025 figures are up even more; Wall Street now expects DraftKings to earn a positive 80 cents per share by the end of the year.



Together, the numbers suggest that DraftKings still has more room to run. Humayun expects margins to continue expanding for the <a href="https://investorplace.com/2024/01/3-stocks-that-will-surge-higher-on-margin-expansion-and-cash-flow-upside">next 12 to 24 months</a>. If that&rsquo;s the case, shares have at least another 22% upside from here.



<h2>Beating the Market</h2>



Wall Street analysts are generally quite good at their work. Many have million-dollar research budgets at their disposal, and top analysts often know corporate bosses on a personal level.



Louis and I are former Wall Streeters, and we&rsquo;ve both seen this &ldquo;old boys club&rdquo; in action. It&rsquo;s no surprise to either of us how powerful earnings revisions can be.



But Wall Street analysts also can make mistakes. In January 2023, analysts had just slashed their expectations for Facebook parent Meta Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>). As a group, Wall Street expected Meta&rsquo;s earnings to decline 12.5% the following year.



But they were wrong. Meta would instead see a resurgence in the ad industry and the rise of generative AI. Earnings would instead rise 60% for 2023, sending shares up 145%. 2023 also saw other surprises, including resurgences in U.S. chipmaking and homebuilders. Intel (NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) and PulteGroup (NYSE:<a href="https://investorplace.com/stock-quotes/phm-stock-quote/">PHM</a>) would see similarly unexpected turnarounds. No matter how skilled analysts are, some things are exceedingly difficult to predict.



So, what if you could beat Wall Street at its own game?



To do that, Louis has teamed up with earnings season expert Landon Swan reveal a <a href="https://secure.tradesmith.com/?cid=MKT783727&amp;eid=MKT788044">revolutionary AI program with the power to predict the future earnings of more than 500 companies</a> with uncanny accuracy. <a href="https://secure.tradesmith.com/?cid=MKT783727&amp;eid=MKT788044">Full details here.</a>



On the date of publication, Thomas Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://protect-us.mimecast.com/s/qLNxCn5X66u64BEvHJ7Oly?domain=investorplace.com" target="_blank"> Publishing Guidelines</a>.
<div>Tom Yeung is a market analyst and portfolio manager of the Omnia Portfolio, the highest-tier subscription at InvestorPlace. He is the former editor of Tom Yeung&rsquo;s Profit &amp; Protection, a free e-letter about investing to profit in good times and protecting gains during the bad.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/01/5-surging-growth-stocks-to-buy-for-2024/">5 Surging Growth Stocks to Buy for 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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