Golden Star Acquisition Corporation - Rights Stock (NASDAQ: GODNR)

Latest news for Golden Star Acquisition Corporation - Rights (NASDAQ:GODNR) Stock

Golden Star Acquisition Corporation - Rights

Regions Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rf#NYSE">RF</a>) is scheduled to report second-quarter 2024 results on Jul 19, before the opening bell. The bank&#39;s earnings and revenues in the to-be-reported quarter are expected to have declined from the year-ago reported figures.
This Birmingham, AL-based player&#39;s first-quarter 2024 earnings missed the Zacks Consensus Estimate due to a rise in expenses and a decline in net interest income (NII). Nonetheless, a rise in non-interest income supported results to some extent.
Regions Financial has a disappointing earnings surprise history. Its earnings surpassed estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 3.66%.
The Zacks Consensus Estimate for second-quarter earnings of 49 cents per share has moved 2.1% north in the past 30 days. The figure indicates a 16.9% decline from the year-ago reported number.
The consensus estimate for revenues is pegged at $1.75 billion, indicating a 10.4% decrease from the prior-year reported figure.
<div class="chart_embed">
<h3>Regions Financial Corporation Price and EPS Surprise</h3>
<h3><img alt="Regions Financial Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ed/1721140225.png" style="height:266px; width:545px" title="" /></h3>
Regions Financial Corporation price-eps-surprise | Regions Financial Corporation Quote
</div>
<h3>Key Factors &amp; Estimates for Q2</h3>
Loans: Region Financial&#39;s overall lending activities are likely to have been moderate in the second quarter. The demand for consumer loans declined, whereas commercial real estate loans experienced softer demand in the quarter under review than in prior quarters.
However, the demand for commercial and industrial loans improved, per the Federal Reserve&#39;s latest data. Given RF&#39;s significant exposure to commercial loans, this is likely to have positively impacted the company&#39;s average interest-earning assets during the second quarter of 2024 to some extent. The Zacks Consensus Estimate of $1.36 billion for average earning assets indicates a sequential marginal increase.&nbsp;
NII: As the Federal Reserve kept the interest rates steady during the quarter at a 23-year high of 5.25-5.5%, RF is less likely to have recorded significant improvement in NII. Also, the inverted yield curve in the June-ended quarter and high funding costs are expected to have weighed on NII growth.
Management expects NII to remain flat or decline by 2% from the first quarter of 2024. The Zacks Consensus Estimate for NII indicates a 1.1% sequential fall to $1.17 billion.
Non-Interest Income: Consumer spending activities were decent in the second quarter of 2024. The expectations of a soft landing of the U.S. economy, gradually cooling inflation, and clarity on the Fed rate cut path are expected to have driven the client activity. This favorable trend is likely to have aided RF&#39;s card and ATM fee growth during the quarter under discussion.
The Zacks Consensus Estimate for card and ATM fees of $120.4 million implies a sequential increase of 3.8%.
Management anticipates overall deposit balances to decline in the to-be-reported quarter due to the impact of tax payments. Also, the consensus estimate for revenues from service charges on deposit accounts for Regions Financial of $143.4 million indicates a decline of 3.1% on a sequential basis.
Global deal-making witnessed a rebound in the second quarter, and the performance of the capital markets business, including issuance activities, improved. Solid financial performance, fading recession risks, buoyant markets, and expected rate cuts this year were the major factors driving a better picture. Yet, tough scrutiny by antitrust regulators and lingering geopolitical tensions were headwinds.
The Zacks Consensus Estimate for capital market income is pegged at $74.6 million, indicating a sequential decline of 18.1%.
In the second quarter, the mortgage rates declined from the peak of more than 8% but remained considerably high at almost 7%. Though the central bank has signaled a 25-basis point cut in rates this year, the demand for mortgages did not witness significant improvement. Due to the home price appreciation and lower supply, mortgage origination volume remained weak too.
The Zacks Consensus Estimate for mortgage income is pegged at $40 million, indicating a 2.4% decrease from the prior quarter&#39;s reported figure.
Wealth and asset management revenues are likely to have gained from higher equity market performance in the quarter. The Zacks Consensus Estimate for wealth management income is pegged at $120.3 million, indicating a 1.1% rise from the prior quarter&#39;s reported number.
Overall, the Zacks Consensus Estimate for total non-interest income is pinned at $596.7 million, indicating a 6% sequential rise.
Expenses: RF&#39;s expenses are expected to have remained high in the quarter under discussion due to an increase in salaries, employee benefit expenses and other expenses. Although the company is implementing expense management actions, its ongoing investment in technology advancement and franchise strengthening is likely to have kept the expense base elevated.
Asset Quality: The company is likely to have set aside a substantial amount of money for potential bad loans, given the expectations of an economic slowdown.
The Zacks Consensus Estimate for non-performing assets is pegged at $971.2 million, indicating a 5.3% rise from the prior quarter&#39;s reported figure.
<h3>What Our Quantitative Model Predicts</h3>
Our proven model does not predict an earnings beat for Regions Financial this time around. This is because it does not have the right combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) to increase the odds of an earnings beat.
Earnings ESP: Regions Financial has an Earnings ESP of -0.02%.&nbsp;
Zacks Rank: The company currently carries a Zacks Rank #3.
<h3>Stocks to Consider</h3>
Here are some finance stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time around.
Northern Trust Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntrs#NASDAQ">NTRS</a>) has an Earnings ESP of +1.56% and carries a Zacks Rank #2 at present. The company is slated to report second-quarter 2024 results on Jul 17.
Over the past 60 days, the Zacks Consensus Estimate for NTRS&#39; quarterly earnings has moved upward by 1.7%.
M&amp;T Bank Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtb#NYSE">MTB</a>) has an Earnings ESP of +0.22% and carries a Zacks Rank #3 at present. It is scheduled to release second-quarter 2014 earnings on Jul 18.
MTB&#39;s quarterly earnings estimates have moved marginally downward over the past seven days.
<a href="https://www.zacks.com/stock/news/2302849/lower-nii-to-hurt-regions-financial-rf-in-q2-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2302849">To read this article on Zacks.com click here.</a>

Earnings

News

Federal Reserve

Markets

Analyst Ratings

Trading Ideas

NTRS

Lower NII to Hurt Regions Financial in Q2 Earnings

Kronos Worldwide Shares Resume Trade

According to a report from the Wall Street Journal, Google&#39;s parent company Alphabet&nbsp;is reportedly in talks to acquire cyber security startup Wiz for $23 billion. This potential acquisition would be Google&#39;s largest ever and significantly boost its cloud computing capabilities.
The potential deal has put ETFs with a substantial allocation to Alphabet in focus. These include Communication Services Select Sector SPDR Fund (ARCA:XLC), Vanguard Communication Services ETF (ARCA:VOX), Fidelity MSCI Communication Services Index ETF (ARCA:FCOM), iShares Global Comm Services ETF (ARCA:IXP) and MicroSectors FANG+ ETN (ARCA:FNGS).
Wiz, an Israeli startup founded in 2020, is one of the fastest-growing start-ups in the cloud security arena and has been positioning itself as a platform provider versus leaders Palo Alto Networks, Zscaler (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zs#NASDAQ">ZS</a>) and others.
The potential deal highlights Alphabet&#39;s strategic focus on enhancing its cybersecurity portfolio amid increasing competition in the tech industry. It would boost Google&#39;s cloud-computing business, which lags behind Amazon.com unit Amazon Web Services as well as Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>). Offering an all-in-one approach to cloud security, Wiz relies on ingesting data from various cloud platforms, including Amazon Web Services, Microsoft Azure, and Google Cloud, and then scanning it all for security risk factors.
Alphabet executives see the deal as a way to fortify Google&#39;s cloud business, which grew 28% to $9.57 billion in the first quarter of this year. However, an agreement hasn&#39;t been reached yet, and talks may fall apart.&nbsp;
<h3>ETFs in Focus</h3>
Let&#39;s delve into each ETF below:
Communication Services Select Sector SPDR Fund
Communication Services Select Sector SPDR Fund offers exposure to companies from telecommunication services, media, entertainment and interactive media &amp; services and has accumulated $19.6 billion in its asset base. It follows the Communication Services Select Sector Index and holds 22 stocks in its basket, with Alphabet Class A and C shares occupying the second and third position, respectively, with a combined 23.4% share. About 47% of the portfolio is allocated to interactive media &amp; services, while entertainment and media round off the next two.
Communication Services Select Sector SPDR Fund charges 9 bps in annual fees and trades in an average daily volume of 3.2 million shares. It has a Zacks ETF Rank #2 (Buy).
Vanguard Communication Services ETF
Vanguard Communication Services ETF targets the communication sector by tracking the MSCI US Investable Market Communication Services 25/50 Index. Holding 117 stocks in its basket, both Alphabet Class A and C shares take the second and third spots, with a total of 22.2% of the portfolio. Interactive media &amp; services is the top sector, accounting for 51.1% of the portfolio, while movies &amp; entertainment, cable &amp; satellite and integrated telecommunication services round off the next three.
Vanguard Communication Services ETF has AUM of $4.1 billion and trades in a good volume of 135,000 shares a day, on average. It charges 10 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Fidelity MSCI Communication Services Index ETF
Fidelity MSCI Communication Services Index ETF follows the MSCI USA IMI Communication Services 25/50 Index. It holds 108 stocks in its basket, with Alphabet Class A and C shares occupying the second and third positions, respectively, at a combined 22.1%.
Fidelity MSCI Communication Services Index ETF has amassed $1.2 billion in its asset base and trades in an average daily volume of 67,000 shares. It charges 8 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook.
iShares Global Comm Services ETF
iShares Global Comm Services ETF provides global exposure to companies in media, entertainment, social media, search engine, video/gaming and telecommunication services by tracking the S&amp;P Global 1200 Communication Services 4.5/22.5/45 Capped Index. It holds 65 stocks in its basket, with Alphabet Class A and C shares taking the second and third spot, respectively, at 22.8%. Interactive media &amp; services dominates the fund&#39;s return at 51.8%, followed by integrated telecommunication services (17.7%).
iShares Global Comm Services ETF has amassed $443 million in its asset base while trading at an average daily volume of 20,000 shares. The expense ratio comes in at 0.42%. IXP has a Zacks ETF Rank #3 with a Medium risk outlook.
MicroSectors FANG+ ETN
MicroSectors FANG+ ETN is linked to the performance of the NYSE FANG+ Index, which is equal-dollar weighted, designed to provide exposure to a group of highly traded growth stocks of next-generation technology and tech-enabled companies. It holds 10 equal-weighted stocks in its basket, with Alphabet accounting for a 10.2% share.
MicroSectors FANG+ ETN has accumulated $383.6 million in its asset base and charges 58 bps in annual fees. It trades in an average daily volume of 124,000 shares and has a Zacks ETF Rank #3.
<a href="https://www.zacks.com/stock/news/2302684/google-to-reportedly-acquire-wiz-etfs-in-focus?cid=CS-BENZ-FT-etf_news_and_commentary-2302684">To read this article on Zacks.com click here.</a>

Tech

Media

ETFs

FCOM

FNGS

iShares Trust S&P Global Telecommunications Sector Index Fund

MSFT

Google to Reportedly Acquire Wiz: ETFs in Focus

Morgan Stanley analyst Hamza Fodderwala maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Overweight and lowers the price target from $73 to $69.

Price Target

FTNT

Morgan Stanley Maintains Overweight on Fortinet, Lowers Price Target to $69

High-rolling investors have positioned themselves bearish on Riot Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</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 RIOT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Riot Platforms. This is not a typical pattern.
The sentiment among these major traders is split, with 33% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $36,000, and 8 calls, totaling $260,725.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $20.0 for Riot Platforms over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Riot Platforms's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Riot Platforms's significant trades, within a strike price range of $10.0 to $20.0, over the past month.
<h3>Riot Platforms 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721234778_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$1.69</td>
<td>$1.62</td>
<td>$1.62</td>
<td>$11.00</td>
<td>$39.6K</td>
<td>18.2K</td>
<td style="text-align: right;">633</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.9</td>
<td>$1.86</td>
<td>$1.86</td>
<td>$20.00</td>
<td>$37.2K</td>
<td>25.7K</td>
<td style="text-align: right;">647</td>
</tr>
<tr>
<td>RIOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$0.36</td>
<td>$0.18</td>
<td>$0.36</td>
<td>$10.00</td>
<td>$36.0K</td>
<td>2.1K</td>
<td style="text-align: right;">54</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$3.2</td>
<td>$3.1</td>
<td>$3.1</td>
<td>$10.00</td>
<td>$34.1K</td>
<td>8.3K</td>
<td style="text-align: right;">150</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$4.85</td>
<td>$4.25</td>
<td>$4.71</td>
<td>$20.00</td>
<td>$32.9K</td>
<td>5.0K</td>
<td style="text-align: right;">31</td>
</tr>
</tbody>
</table>

<h3>About Riot Platforms</h3>
Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.
After a thorough review of the options trading surrounding Riot Platforms, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Riot Platforms's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 19,359,209, the RIOT's price is down by -5.59%, now at $11.99. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 21 days.</li>
</ul>
<h3>What The Experts Say On Riot Platforms</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $23.0.
<ul>
<li>In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $23. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Riot Platforms with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

RIOT

Riot Platforms Unusual Options Activity For July 17

High-rolling investors have positioned themselves bearish on QuantumScape (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</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 QS often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for QuantumScape. This is not a typical pattern.
The sentiment among these major traders is split, with 30% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $39,360, and 9 calls, totaling $354,760.
<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 $3.0 and $11.0 for QuantumScape, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for QuantumScape'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 QuantumScape's whale trades within a strike price range from $3.0 to $11.0 in the last 30 days. 
<h3>QuantumScape Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721234773_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>QS</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$2.39</td>
<td>$2.2</td>
<td>$2.3</td>
<td>$8.00</td>
<td>$68.7K</td>
<td>2.9K</td>
<td style="text-align: right;">80</td>
</tr>
<tr>
<td>QS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.3</td>
<td>$5.2</td>
<td>$5.3</td>
<td>$5.00</td>
<td>$53.0K</td>
<td>5.5K</td>
<td style="text-align: right;">39</td>
</tr>
<tr>
<td>QS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$1.66</td>
<td>$1.66</td>
<td>$1.66</td>
<td>$11.00</td>
<td>$41.5K</td>
<td>59</td>
<td style="text-align: right;">7</td>
</tr>
<tr>
<td>QS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.2</td>
<td>$3.1</td>
<td>$3.2</td>
<td>$11.00</td>
<td>$39.3K</td>
<td>0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>QS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.64</td>
<td>$2.5</td>
<td>$2.5</td>
<td>$7.50</td>
<td>$38.2K</td>
<td>20.9K</td>
<td style="text-align: right;">270</td>
</tr>
</tbody>
</table>

<h3>About QuantumScape</h3>
QuantumScape Corp is engaged in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles. It developed an anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing.
Having examined the options trading patterns of QuantumScape, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is QuantumScape Standing Right Now?</h3>
<ul>
<li>With a trading volume of 16,907,657, the price of QS is down by -3.5%, reaching $8.82.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 7 days from now.</li>
</ul>
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 QuantumScape, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

QuantumScape's Options Frenzy: What You Need to Know

Investors with significant funds have taken a bearish position in Lucid Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in LCID usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 16 options transactions for Lucid Gr. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 37% being bullish and 43% bearish. Of all the options we discovered, 15 are puts, valued at $731,898, and there was a single call, worth $60,550.
<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 $4.0 to $4.0 for Lucid Gr during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Lucid Gr options trades today is 23580.33 with a total volume of 32,386.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lucid Gr's big money trades within a strike price range of $4.0 to $4.0 over the last 30 days.
<h3>Lucid Gr Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721234768_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$1.4</td>
<td>$1.34</td>
<td>$1.37</td>
<td>$4.00</td>
<td>$66.8K</td>
<td>60.0K</td>
<td>5.6K</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.36</td>
<td>$1.32</td>
<td>$1.35</td>
<td>$4.00</td>
<td>$64.5K</td>
<td>60.0K</td>
<td>3.8K</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.38</td>
<td>$1.35</td>
<td>$1.36</td>
<td>$4.00</td>
<td>$60.9K</td>
<td>60.0K</td>
<td>3.3K</td>
</tr>
<tr>
<td>LCID</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$1.21</td>
<td>$1.05</td>
<td>$1.21</td>
<td>$4.00</td>
<td>$60.5K</td>
<td>3.8K</td>
<td>2</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.37</td>
<td>$1.32</td>
<td>$1.36</td>
<td>$4.00</td>
<td>$55.7K</td>
<td>60.0K</td>
<td>1.6K</td>
</tr>
</tbody>
</table>

<h3>About Lucid Gr</h3>
Lucid Group Inc is a technology and automotive company. It develops the next generation of electric vehicle (EV) technologies. It is a vertically integrated company that designs, engineers, and builds electric vehicles, EV powertrains, and battery systems in-house using our own equipment and factory.
Having examined the options trading patterns of Lucid Gr, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Lucid Gr</h3>
<ul>
<li>Trading volume stands at 40,688,196, with LCID's price down by -6.88%, positioned at $3.7.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 19 days.</li>
</ul>
<h3>Expert Opinions on Lucid Gr</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $3.75.
<ul>
<li>An analyst from Cantor Fitzgerald downgraded its action to Underweight with a price target of $4. </li>
<li>In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Underweight, setting a price target of $4. </li>
<li>In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Underweight, setting a price target of $4. </li>
<li>In a cautious move, an analyst from Baird downgraded its rating to Neutral, setting a price target of $3. </li>
</ul>
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 Lucid Gr, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

LCID

Lucid Gr Unusual Options Activity For July 17

Netflix (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) is set to report second-quarter 2024 results on Jul 18.
For the second quarter of 2024, Netflix forecasts revenues to increase 16%, which equates to 21% growth on a foreign exchange (F/X) neutral basis due to price changes in Argentina and the devaluation of the local currency relative to the U.S. dollar.
The company anticipates total revenues to be $9.491 billion, projecting growth of 15.9% year over year. The Zacks Consensus Estimate for revenues is pegged at $9.53 billion, higher than the company&#39;s expectation.
Netflix projects earnings of $4.68 per share, indicating growth of 42.2% year over year. The Zacks Consensus Estimate for the same is pegged at $4.70 per share, currently higher than the company&#39;s expectation. The estimate has been unchanged over the past 30 days.
The company&#39;s second-quarter results are expected to benefit from its diversified content portfolio, which involves heavy investments in the production and distribution of localized and foreign-language content.
<h3>NFLX Estimate Movement</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6a/71519.jpg?v=312740833" style="height:310px; width:620px" />
Image Source: Zacks Investment Research
<h3>Earnings Surprise History</h3>
In the last reported quarter, the company delivered an earnings surprise of 17.07%. The company&#39;s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one, the average negative surprise being 9.29%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/25/71518.jpg?v=1477481879" style="height:310px; width:620px" />
Image Source: Zacks Investment Research
<h3>Earnings Whispers</h3>
Our proven model does not conclusively predict an earnings beat for Netflix this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here.
NFLX has an Earnings ESP of 0.00% and a Zacks Rank #2 at present.
<h3>Factors Shaping Upcoming Results</h3>
Netflix anticipates a seasonal decline in paid net additions for the second quarter of 2024 compared to the first quarter while projecting year-over-year growth in global Average Revenue per Membership (ARM) on an F/X basis.
The company&#39;s strategic initiatives, including the introduction of ad-supported low-priced plans and the crackdown on password-sharing through paid sharing options in over 100 countries (representing more than 80% of Netflix&#39;s revenue base), are expected to have contributed to top-line growth in the second quarter.
These measures, coupled with Netflix&#39;s expanding games portfolio featuring titles like Grand Theft Auto: The Trilogy, are likely to have enhanced user engagement and aided in boosting subscriber base in the to-be-reported quarter.
Despite these positive factors, Netflix continues to face significant challenges in the highly competitive streaming landscape. The company contends with robust rivals such as Disney&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) Disney+, Warner Bros. Discovery (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>) -owned HBO Max, Peacock, Paramount+, Apple&#39;s Apple TV+ and Amazon. Additionally, Netflix competes for consumer attention against traditional linear TV, YouTube, short-form content platforms like TikTok and the gaming industry. This intense competition for viewers&#39; time and subscription dollars remains a persistent headwind for Netflix as it strives to maintain its market position and drive growth in an increasingly crowded digital entertainment ecosystem.
<h3>Top-Line Growth Estimates for Q2</h3>
The Zacks Consensus Estimate for paid total streaming net membership additions is pegged at 5.41 million.
The consensus mark for second-quarter 2024 Asia-Pacific revenues is pegged at $1.03 billion, indicating 12.9% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for Latin America revenues is pegged at $1.18 billion, suggesting a rise of 9.9% from the figure reported in the previous quarter.
Moreover, the consensus mark for EMEA revenues is pegged at $3.03 billion, suggesting an increase of 18.5% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for the United States and Canada revenues is pegged at $4.26 billion, indicating an 18.4% rise from the figure reported in the year-ago quarter.
<h3>Price Performance &amp; Valuation</h3>
Shares of Netflix have gained 38.4% in the year-to-date period compared with the Zacks Consumer Discretionary sector, Apple and Disney&#39;s rise of 16.6%, 22% and 7.3%, respectively. Shares of Warner Bros. Discovery have lost 38.4% in the same period.
<h3>Netflix Outperforms Sector, Peers</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/5c/71520.jpg?v=1191986626" style="height:310px; width:620px" />
Image Source: Zacks Investment Research
Now, let&#39;s look at the value Netflix offers investors at current levels. Currently, NFLX is trading at 6.85X forward 12 months sales, above its five-year median of 6.02X. Meanwhile, the Zacks Broadcast Radio and Television industry&#39;s forward earnings multiple sits at 4.43X. The company&#39;s valuation looks somewhat stretched compared with its own range and the industry average.
<h3>Price-to-Sales (Forward 12 Months)</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/96/71521.jpg?v=791350280" style="height:310px; width:620px" />
Image Source: Zacks Investment Research
<h3>Investment Considerations: Balancing Risk and Reward</h3>
Netflix presents a compelling investment opportunity as a dominant force in the global streaming industry. The company&#39;s unparalleled content production capabilities consistently deliver hit shows and movies, driving subscriber growth and retention. Netflix&#39;s strategic expansion into ad-supported tiers and gaming diversifies revenue streams while broadening its market reach. The crackdown on password sharing is poised to unlock significant untapped revenue potential. With a robust international presence and data-driven content creation, Netflix is well-positioned to capitalize on the growing global demand for streaming entertainment.
The company&#39;s strong brand, innovative technology, and ability to adapt to market trends ensure its continued leadership in the evolving digital media landscape. As streaming becomes increasingly central to entertainment consumption worldwide, Netflix stands to benefit substantially, offering investors exposure to this high-growth sector. However, investors should monitor content costs, subscriber growth rates and evolving competitive dynamics in the streaming industry.
<h3>Final Thoughts</h3>
Despite a premium valuation and fierce competition in the streaming sector, Netflix remains a compelling investment. Its first-mover advantage, extensive global footprint and track record of producing culturally significant content set it apart. These factors, combined with Netflix&#39;s ability to adapt and innovate, suggest it is well-equipped to maintain market leadership and capitalize on the growing digital entertainment landscape, making the stock worth buying ahead of its second-quarter earnings report.
<a href="https://www.zacks.com/stock/news/2302877/is-netflix-nflx-stock-a-smart-buy-before-q2-earnings-report?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2302877">To read this article on Zacks.com click here.</a>

Entertainment

General

NFLX

Is Netflix Stock a Smart Buy Before Q2 Earnings Report?

Morgan Stanley analyst Betsy Graseck maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Overweight and raises the price target from $44 to $46.

Morgan Stanley Maintains Overweight on Bank of America, Raises Price Target to $46

The Progressive Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>) second-quarter 2024 earnings per share of $2.65 beat the Zacks Consensus Estimate of $1.99. The bottom line improved more than five times year over year.
Operating revenues of $18.3 billion beat the Zacks Consensus Estimate by 1.4% and increased 18.9% year over year.
Shares gained 2.3% in the pre-market trading session to reflect the outperformance.
<h3>The Progressive Corporation Price, Consensus and EPS Surprise</h3>
<div class="chart_embed">
<h3><img alt="The Progressive Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/c0/1721142510.png" style="height:265px; width:587px" title="" /></h3>
The Progressive Corporation price-consensus-eps-surprise-chart | The Progressive Corporation Quote
</div>
<h3>Behind the Headlines</h3>
Net premiums written were $17.9 billion in the quarter, up 22% from $14.7 billion a year ago. Premiums beat our estimate of $17.3 billion.
Net premiums earned grew 19% to $17.2 billion and beat our estimate of $16.7 billion.
Net realized loss on securities was $126.3 billion against $126.9 million earned in the year-ago quarter.
Combined ratio &mdash; the percentage of premiums paid out as claims and expenses &mdash; improved 850 basis points (bps) from the prior-year quarter&#39;s level to 91.9.
<h3>June Policies in Force</h3>
Policies in force were strong in the Personal Auto segment, up 10% from the year-ago month&#39;s figure to 21.5 million. Special Lines improved 8% to 6.3 million.
In the Personal Auto segment, Direct Auto increased 12% year over year to 12.6 million, while Agency Auto increased 6% to 9 million.
Progressive&#39;s Commercial Auto segment rose 1% year over year to 1.1 million. The Property business had 3.3 million policies in force, up 12%.
<h3>Financial Update</h3>
Progressive&#39;s book value per share was $39.85 as of Jun 30, 2024, up 43.8% from $27.71 as of Jun 30, 2023.
Return on equity in June 2024 was 40.2%, up from 8% reported in the year-ago period. The total debt-to-total capital ratio improved 640 bps to 22.8.
<h3>Zacks Rank</h3>
Progressive currently has a Zacks Rank #3 (Hold).
<h3>Upcoming Releases</h3>
The Travelers Companies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) will report second-quarter 2024 results on Jul 19, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $2.49, suggesting an increase of 4,050% from the year-ago quarter&#39;s reported figure.
TRV&#39;s earnings beat estimates in one of the last four quarters while missing in the other three.
RLI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) will report second-quarter 2024 results on Jul 22, after market close. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $1.35, indicating an increase of 16.4% from the year-ago quarter&#39;s reported figure.
RLI&#39;s earnings beat estimates in three of the last four quarters while missing in one.
W.R. Berkley Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wrb#NYSE">WRB</a>) will report second-quarter 2024 results on Jul 22, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 82 cents, suggesting an increase of 7.9% from the year-ago quarter&#39;s reported figure.
WRB&#39;s earnings beat estimates in the last four reported quarters.
<a href="https://www.zacks.com/stock/news/2302874/progressive-s-pgr-q2-earnings-beat-premiums-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2302874">To read this article on Zacks.com click here.</a>

Earnings Beats

Progressive's Q2 Earnings Beat, Premiums Rise Y/Y

<a href="https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/12036337" title="https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/12036337">https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/12036337</a>
<figure class="image"><img src="https://pbs.twimg.com/media/GStAqIUWIAAVKXa?format=jpg&amp;name=900x900" alt="Image" /></figure>

Biotech

LYRA

Lyra Therapeutics Granted U.S. Patent #12036337 For "IMPLANTABLE SCAFFOLDS FOR TREATMENT OF SINUSITIS".

Morgan Stanley analyst Betsy Graseck maintains PNC Finl Servs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) with a Underweight and lowers the price target from $167 to $165.

Morgan Stanley Maintains Underweight on PNC Finl Servs Gr, Lowers Price Target to $165

The semiconductor sector is enduring one of its worst trading days in years, driven by investor concerns over the Biden administration&#8217;s potential tightening of regulatory restrictions on <a href="https://www.benzinga.com/topic/china">chip exports to China.</a>
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) plummeted 5.4% by 12:20 p.m. ET, eyeing the worst session since October 2022. Similarly, the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) sunk 5.5%. 
Chart: Chipmakers Suffer Worst Day Since October 2022
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="423" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17122828/image-28-1024x423.png" alt="" class="wp-image-441268" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17122828/image-28-1024x423.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17122828/image-28-300x124.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17122828/image-28-768x318.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17122828/image-28-1536x635.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17122828/image-28.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image: <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071724&amp;t=be2bearmibe3na1">Benzinga Pro</a>
The Biden administration is considering enacting the harshest trade restrictions if chipmakers continue to grant China access to advanced semiconductor technology, Bloomberg News reported Wednesday. 
Dutch chipmaker giant AMSL Holdings NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) appears to be a primary target of these heightened U.S. chip restrictions. For the last four quarters, China has remained ASML&#8217;s biggest market, with second-quarter sales climbing 21% from the previous period to reach 2.3 billion euros ($2.5 billion).
U.S.-listed shares of ASML fell over 11%, marking the largest one-day drop since March 19, 2020, when shares plummeted 19% due to COVID-related lockdowns.
Bank of America equity analyst Savita Subramanian cautioned that excessive regulation could jeopardize the U.S.&#8217;s technological leadership. She added the the government recognizes this and will likely aim to maintain its tech dominance.
It&#8217;s &#8220;unlikely&#8221; that regulatory risks would erode the competitive edge of U.S. technology companies in AI, Subramanian said.
Peter Tchir, a strategist at Academy Securities, said: &#8220;A pullback and risk-off trade into July earnings season is good in my view to lower expectations and very elevated and euphoric investor positioning/sentiment in the semi sector.&#8221;
<h3 class="wp-block-heading">Wednesday Movers Among Semiconductor Stocks</h3>
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) dropped 5.6%, while Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) fell 7.6%, with AMD notably testing the support of its 50-day moving average.</li>
<li>U.S.-listed shares of Taiwan Semiconductor Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) declined 6.2% following reports that U.S. presidential candidate Donald Trump suggested Taiwan should compensate the U.S. for its defense.</li>
<li>British chipmaker Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) tumbled 8%.</li>
<li>Other stocks, including Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) and Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>), saw losses exceeding 7%.</li>
<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) each decreased by 6%.</li>
<li>In contrast, Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) were the only major chipmakers trading in the green, up 2.4% and 0.7%, respectively.</li>
</ul>
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</ul>
Photo via Shutterstock.

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iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

AI Earthquake: Semiconductors Suffer Worst Selloff In Years On Stricter US Chip Exports To China

<a href="https://nypost.com/2024/07/17/business/mcdonalds-5-value-meals-lure-back-inflation-battered-customers-survey/">https://nypost.com/2024/07/17/business/mcdonalds-5-value-meals-lure-back-inflation-battered-customers-survey/</a>
Fast-food and casual dining chains have been serving up affordable meal deals this year in an effort to win back inflation-battered shoppers – and fresh data shows it's working.&nbsp;
Restaurants including McDonald's, Starbucks, Chili's and Buffalo Wild Wings saw improved foot traffic after their introduction of meal deals and limited-time discounts, according to a new survey.
McDonald's launched its <a href="https://nypost.com/2024/06/20/lifestyle/mcdonalds-debuts-5-meal-deal-and-free-fries-friday/">highly anticipated $5 Meal Deal in June</a>, which includes a McDouble or McChicken, a four-piece nugget, a small fry and a small fountain beverage – going head-to-head with value meals from rivals Wendy's and Burger King.
The largest fast food chain in the world launched the limited-time deal on June 25, which was then McDonald's busiest Tuesday of the year – raking in 8% more visits than the year-to-date Tuesday average, <a href="https://www.placer.ai/blog/limited-time-offers-price-wars-boost-visits">according to analytics company Placer.ai</a>.
Throughout the rest of launch week, visits averaged at least 5% more than the daily year-to-date averages, according to data.
The fast-food giant also debuted Free Fries Friday – a free medium fry with $1 minimum purchase for app users. The deal lasts through the end of the year.
Coffee giant Starbucks, meanwhile, saw success with its limited-time deal offering half-off iced drinks on Fridays in May.
Starbucks visits on May 3 – the Friday before the deal launch – landed 1.1% below the year-to-date Friday average, according to Placer.ai.
When the half-off deal began on May 10, visits spiked 20% above the year-to-date average, according to data.&nbsp;
Chili's Grill &amp; Bar revamped its "3 for Me" value menu in April, adding new choices – including the Big Smasher burger – to the menu.&nbsp;
The value meal includes an appetizer, entree and beverage of choice starting at $10.99.
Like other restaurants, the value meal boosted foot traffic to Chili's.
The week before the value menu update, Chili's visits were up 4.7% compared to 2023, according to Placer.ai. During the week of the update, visits soared 17.3% over the 2023 average, according to data.
Buffalo Wild Wings began offering unlimited boneless wings on Mondays and Wednesdays for $19.99.
The Georgia-based sports bar franchise introduced the deal on May 13. It was originally expected to run through July 10, but the deal is still being promoted on the Buffalo Wild Wings website.
Foot traffic to the restaurant jumped 8% immediately after the deal launch, according to Placer.ai. Monday and Wednesday visits in particular spiked, by 45.6% and 49.3% respectively, according to data.&nbsp;
Monday and Wednesday visits stayed above average in the seven-week period after the unlimited deal launch, according to data.
Buffalo Wild Wings – owned by Inspire Brands under the same umbrella as Arby's, Sonic Drive-In and Dunkin' Donuts – has catered to customers with a slew of deals this year, including $5 beers on National Beer Day.
Though <a href="https://nypost.com/2024/07/05/business/us-inflation-cooling-job-market-similar-to-pre-pandemic-conditions-fed/">inflation is now easing</a> – hovering around 2.6% – customers have been hit hard by long-lasting inflation that led to price hikes and a pullback on non-necessity spending.&nbsp;
Grocery and fast-food prices in the US have risen sharply since the pandemic.&nbsp;
Food prices spiked 25% from 2019 to 2023, <a href="https://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/food-prices-and-spending/?topicId=1afac93a-444e-4e05-99f3-53217721a8be#:~:text=U.S.%20food%20prices%20rose%20by,(COVID%2D19)%20pandemic.">according to the US Department of Agriculture Economic Research Service</a>.&nbsp;
And the average price of a McDonald's Big Mac in the US is $5.29 – <a href="https://nypost.com/2024/05/29/business/frustrated-mcdonalds-exec-rips-viral-reports-of-18-big-mac-as-painting-inaccurate-picture-of-fast-food-titan/">up 21% since 2019</a>, McDonald's USA President Joe Erlinger said in May.
To combat the effects of inflation, restaurants have been introducing affordable meal deals to draw in cash-strapped customers.

SBUX

'McDonald's $5 Value Meals Lure Back Inflation-battered Customers As Starbuck's, Chili's Also See Boost: Survey' - NY Post

Morgan Stanley analyst Connor Lynagh maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Equal-Weight and raises the price target from $90 to $93.

Morgan Stanley Maintains Equal-Weight on State Street, Raises Price Target to $93

IPDN

Professional Diversity Network 13D Filing Shows Xin He Reported A 10.04% Stake In The Co As Of July 17 2024

Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Wednesday.</a>
Today, the company disclosed that the Massachusetts Executive Office of Energy and Environmental Affairs Department of Energy Resources has approved its all-electric Class 1 cargo van, the 2024 Mullen ONE, as eligible for a $3,500 <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39814689/mullens-class-1-ev-cargo-van-receives-approval-for-the-mor-ev-program-granting-a-3-500-rebate-in-m" rel="noreferrer noopener">cash voucher under the MOR-EV program.</a>
Administered statewide by the Center for Sustainable Energy (CSE) under the oversight of the Massachusetts Executive Office of Energy and Environmental Affairs&#8217; Department of Energy Resources, MOR-EV aims to enhance EV affordability.
It promotes clean transportation goals, reduces greenhouse gas emissions, and facilitates equitable access to electric vehicles.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39816397/whats-going-on-with-palantir-technologies-shares-today" rel="noreferrer noopener">What&#8217;s Going On With Palantir Technologies Shares Today?</a>
&#8220;Both the Mullen ONE and THREE are now eligible for the MOR-EV rebate, making our Commercial EVs even more affordable for Massachusetts businesses,&#8221; said David Michery, CEO and chairman of Mullen Automotive.
MOR-EV Trucks provides incentives for purchasing and leasing medium- and heavy-duty battery electric and fuel cell electric trucks, buses, and vans, available for both individual and fleet acquisitions.
Through MOR-EV, the 2024 Mullen ONE EV cargo van, priced at $34,500 MSRP, is eligible for a $3,500 cash voucher.
Combined with the $7,500 federal tax credit, the effective cost reduces to around $23,500.
&#8220;We&#8217;re committed to making Mullen Commercial EVs accessible nationwide and securing state-level incentives like the MOR-EV program is a key part of this strategy,&#8221; Michery added.
Price Action: MULN shares are trading lower by 5.98% to $1.739 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Equities

Movers

MULN

What's Going On With Mullen Automotive Stock Today?

Guidance

Kronos Worldwide Expects To Report Net Sales For Q2 Of 2024 In Range Of $495M-$510M Vs $568.02M Est.; Throughout 2023, Kronos Implemented Cost Reduction Initiatives Designed To Improve Its Long-Term Cost Structure; Expects Sales Volumes In 2024 To Exceed 2023 Sales Volumes; Expects To Recognize Non-Cash Charges About $10M In Q2 And About $5M In Q3; Expects Sales Volumes In 2024 To Exceed 2023 Sales Volumes

<a href="https://www.bloomberg.com/news/articles/2024-07-17/state-street-said-to-explore-creating-stablecoin-deposit-token?utm_source=twitter&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_campaign=socialflow-organic&amp;utm_medium=social&amp;sref=2h1zKciy">https://www.bloomberg.com/news/articles/2024-07-17/state-street-said-to-explore-creating-stablecoin-deposit-token?utm_source=twitter&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_campaign=socialflow-organic&amp;utm_medium=social&amp;sref=2h1zKciy</a>
Financial services and banking giant <a href="https://www.bloomberg.com/quote/STT:US">State Street Corp.</a> is exploring ways to get involved in settling payments on blockchain, according to a person familiar with the matter.
The Boston-based asset manager, which reported higher-than-expected revenue and interest income on Tuesday, is exploring creating its own stablecoin — a cryptocurrency that runs on a blockchain and is pegged to an asset such as the dollar. It's also considering creating its own deposit token, which would represent customer deposits on a blockchain, according to the person, who asked for anonymity because the work hasn't been made public. A State Street spokesperson declined to co

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

Cryptocurrency

"State Street Said To Explore Creating Stablecoin, Deposit Token; The Asset Manager Is Looking At Crypto Settlements Options; Timeline For Implementation Has Not Been Set Yet" - Bloomberg News

Boston Beer Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) short percent of float has fallen 15.79% since its last report. The company recently reported that it has 278 thousand shares sold short, which is 3.04% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.75 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Boston Beer Co Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721233831_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Boston Beer Co has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Boston Beer Co's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Boston Beer Co's peer group average for short interest as a percentage of float is 5.24%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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