Latest news for Heritage Mining (OTC:HMNGF) Stock

Heritage Mining Ltd is engaged in the business of exploration for gold and other metals across Canada. The company's principal objectives are to explore and develop the Drayton - Black Lake Property and to identify other properties worthy of investment and exploration. The Drayton - Black Lake Project consists of mining claims located in the Patricia Mining Division.

Heritage Mining Ltd

WIIM

SMFG

Sumitomo Mitsui Financial Group shares are trading lower after the company reported a year-over-year decrease in Q1 sales results.

Wedbush analyst Nick Setyan maintains Shake Shack (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) with a Neutral and raises the price target from $90 to $100.

News

Price Target

Analyst Ratings

SHAK

Wedbush Maintains Neutral on Shake Shack, Raises Price Target to $100

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Sage Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) with a Neutral and maintains $25 price target.

Reiteration

SAGE

HC Wainwright & Co. Reiterates Neutral on Sage Therapeutics, Maintains $25 Price Target

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has seen its stock prices more than double since the start of the year due to the boom in AI-related investments. However, experts warn of the cyclical nature of the semiconductor industry and potential slowdowns in the future.
What Happened: Chris Miller, a history professor at The Fletcher School at Tufts University, explained that the semiconductor sector has always experienced ups and downs, Business Insider <a href="https://www.businessinsider.com/watch-out-for-semiconductor-super-cycle-before-buying-nvidia-stock-2024-7">reported</a> on Friday. He highlighted that chip giants like Nvidia and Taiwan Semiconductor Manufacturing Co Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) have greatly benefited from the AI buildout, but this may not always be the case.
The concept of a semiconductor supercycle refers to sustained periods of growth and increased demand that can last several years.
&#8220;The boom in spending on AI infrastructure has been a major growth driver for the chip industry,&#8221; Miller said. 
&#8220;If excitement and investment in AI slow, chip industry growth will slow, too.&#8221; 
Despite the warnings, some believe it&#8217;s too early to declare a new supercycle. Thomas Rupf, chief investment officer at private bank VP Bank Asia, and Josie Ananto, a principal at EY-Parthenon&#8217;s strategy and transactions team, both see persistent demand and investment opportunities in the sector.
See Also: <a href="https://www.benzinga.com/news/24/07/40061358/satya-nadella-says-microsofts-copilot-drives-40-of-githubs-revenue-growth-we-are-also-enabling-anyon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Satya Nadella Says Microsoft&#8217;s Copilot Drives 40% Of GitHub&#8217;s Revenue Growth: We Are Also &#8216;Enabling Anyone To Use Natural Language To Create Apps…&#8217;</a>
However, the success of Nvidia has attracted competition from big tech players like Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Google by Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), and startups like Groq. This could pose a threat to Nvidia, which designs but doesn&#8217;t manufacture its own chips.
Despite the competition, Nvidia is not standing still. In May, Nvidia CEO Jensen Huang announced the company would release new chips on a &#8220;one-year rhythm&#8221; instead of its traditional two-year release cycle.
Why It Matters: Nvidia&#8217;s stock valuation saw<a href="https://www.benzinga.com/24/08/40104317/nvidias-stock-leaps-almost-13-to-new-record-highs-with-a-record-330-billion-surge"> a significant jump</a>, adding an impressive $330 billion to its market cap in just one day. This surge broke its previous record of a $277 billion gain, driven by Microsoft&#8217;s recent announcement of a significant rise in its AI-related spending for the fiscal year 2024, which is set to grow by 60% to $69 billion. This news led to a nearly 13% rise in Nvidia&#8217;s stock price, bringing its market capitalization to a remarkable $2.88 trillion. As a result, Nvidia has become the third-most valuable company in the world, behind only Apple and Microsoft.
However, the semiconductor<a href="https://www.benzinga.com/etfs/sector-etfs/24/07/40047835/dell-nvidia-amd-stocks-tumble-as-semiconductor-rally-stalls"> rally has faltered </a>in the second half of the year. The Invesco QQQ Trust Series QQQ, a fund that tracks the NASDAQ 100, is down more than 5% throughout the last month. In the last month, Dell&#8217;s stock is down 25%, Nvidia&#8217;s more than 15%, while AMD is down around 13%.
Nvidia Corp has unveiled significant <a href="https://www.benzinga.com/news/24/07/40038962/nvidia-drives-value-with-ai-and-robotics-software-services">updates to its software suite,</a> aiming to streamline the integration of generative artificial intelligence for various businesses. The new releases include what Nvidia calls NIMs, or Nvidia inference microservices, designed to handle the logistical challenges of deploying AI technologies such as chatbots and voice recognition.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40116376/apple-q3-earnings-beat-expectations-tim-cook-highlights-breakthrough-ai-platform-installed-base-of-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Q3 Earnings Beat Expectations, Tim Cook Highlights &#8216;Breakthrough&#8217; AI Platform: Installed Base Of Devices Hits All-Time High, But China Revenue Falls&nbsp;</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Tech

General

GOOG

GOOGL

NVDA

Amid Nvidia And Other Chip Stock Surge, Expert Warns 'If Excitement And Investment In AI Slow, Chip Industry Growth Will Slow Too'

Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy on Thursday stated that the company&#8217;s streaming service, Prime Video, will have &#8220;meaningfully fewer ads&#8221; than its competitors.
What Happened: During <a href="https://www.benzinga.com/news/earnings/24/08/40114662/amazon-q2-earnings-highlights-revenue-miss-eps-beat-q3-guidance-and-more">Amazon&#8217;s second-quarter earnings</a> call, Jassy highlighted that while advertising is a standard part of streaming video, they plan to diverge from this norm.
&#8220;While ads have become a norm of streaming video, we aim to have meaningfully fewer ads than linear TV and other streaming TV providers,&#8221; he said.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/40031960/microsofts-windows-reportedly-warns-users-to-backup-their-data-in-the-cloud-to-have-peace-of-mind-bu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s Windows Reportedly Warns Users To Backup Their Data In The Cloud To Have &#8216;Peace Of Mind&#8217; — But At What Price?</a>
The company&#8217;s ad tech and measurement capabilities allow brands to directly connect their advertising to business outcomes, such as&nbsp;product sales or subscription sign-ups.
This approach, Jassy believes, will enhance&nbsp;the relevance and performance of&nbsp;ads on Prime Video. For customers who prefer an ad-free experience, Amazon offers this&nbsp;option for an additional $2.99&nbsp;per month. 
Amazon CFO, Brian T Olsavsky, also spoke about how advertising remains a significant contributor to profitability in both the North American and international segments.
He also noted the company&#8217;s plans to expand its offerings in areas driving growth, including sponsored products and Prime Video ads.
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: Amazon&#8217;s decision to reduce ads on Prime Video comes <a href="https://www.benzinga.com/news/24/07/40042764/amazon-challenges-netflix-with-cheaper-ad-slots-boosts-prime-video-ads-report?comments_open=true">after the company&nbsp;undercut</a> Netflix Inc. on advertising pricing to attract marketers&#8217; attention. 
The e-commerce giant introduced advertising to its Prime Video platform five months ago and has been presenting its plans to advertisers to attract money for the next year.
The introduction of an ad-supported version of Prime Video&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/06/39330119/how-amazon-prime-videos-ad-supported-version-reportedly-disrupted-netflix-youtube-and-tv-ne">disrupted the streaming ad market</a>, causing a significant decrease in ad prices for everyone, including Netflix, YouTube, and TV networks. 
This move impacted the negotiations these platforms are having with advertisers for the upcoming TV season.
Meanwhile, on Thursday, Amazon announced second-quarter net sales of $148 billion, a 10% increase year-over-year, but fell short of the Street consensus estimate of $148.56 billion, according to data&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080124&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">from Benzinga Pro.</a>
Price Action: At the time of writing, Amazon shares had fallen 8.15% to $169.06 during the pre-market trading session, after closing at $184.07 on Thursday, down by 1.56%.
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:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40027527/mark-zuckerberg-gets-triggered-by-closed-ai-models-at-siggraph-2024-drops-f-bomb-while-talking-with?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Gets Triggered By Closed AI Models At SIGGRAPH 2024, Drops F-Bomb While Talking With Nvidia CEO Jensen Huang: ‘There Goes Our Broadcast Opportunity'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Thibault Penin on Unsplash

Entertainment

AMZN

Amazon CEO Says While Ads Have Become A Norm, Prime Video Intends To Have 'Meaningfully Fewer Ads' Than Netflix, YouTube, Disney+, And Others

Barclays analyst Tim Long maintains Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) with a Underweight and lowers the price target from $187 to $186.

AAPL

Barclays Maintains Underweight on Apple, Lowers Price Target to $186

Needham analyst Quinn Bolton maintains MACOM Technology Solns (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTSI#NASDAQ">MTSI</a>) with a Buy and raises the price target from $110 to $120.

MTSI

Needham Maintains Buy on MACOM Technology Solns, Raises Price Target to $120

Stifel analyst Mark Kelley maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and lowers the price target from $228 to $224.

Stifel Maintains Buy on Amazon.com, Lowers Price Target to $224

PXDT

Pixie Dust Technologies Launched VUEVO Display, Which Provides A Window To Serve Global Customers With Real-time Subtitling And Translation In Over 100 Languages

These actions are expected to result in approximately $7 million in annual cash savings and enable the Company to achieve positive cash flow by the end of 2027 without additional financing.
The Company does not expect these actions to impact its 2024 revenue or gross margin outlook and plans to continue to invest in key initiatives that are expected to drive future revenue growth and gross margin improvement, including product development and cost reduction programs.
The Company expects to record a related charge of approximately $0.7 million in the third quarter of 2024.

Earnings

Health Care

RPID

In July 2024, Rapid Micro Biosystems Completed An Enterprise-wide Review To Realize Operational Efficiencies, The Company Will Reduce Its Current Workforce, Close Open And Planned Positions, And Reduce Other Non-headcount-related Expenses Across The Business

Belle Fashion Group will oversee the distribution of Allbirds products across retail, online and wholesale channels and will allocate dedicated brand and marketing resources to the partnership.

BIRD

Allbirds Says Belle Fashion Appointed Its Exclusive Distributor And Licensee In Mainland China, Macau And Taiwan, Effective June 28

Piper Sandler analyst Thomas Champion maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Overweight and lowers the price target from $220 to $215.

Piper Sandler Maintains Overweight on Amazon.com, Lowers Price Target to $215

Barclays analyst Saket Kalia downgrades Procore Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) from Overweight to Equal-Weight and lowers the price target from $78 to $54.

Downgrades

PCOR

Barclays Downgrades Procore Technologies to Equal-Weight, Lowers Price Target to $54

Transaction with Permira
As announced on&nbsp;May 13, 2024, Squarespace entered into a definitive agreement to go private by Permira. In light of this transaction, Squarespace will not be hosting an earnings conference
Transaction with Permira
As announced on&nbsp;May 13, 2024, Squarespace entered into a definitive agreement to go private by Permira. In light of this transaction, Squarespace will not be hosting an earnings conference call or live webcast to discuss its&nbsp;second quarter&nbsp;2024 financial results and Squarespace will not be providing&nbsp;guidance&nbsp;for the&nbsp;third quarter&nbsp;and is suspending its financial&nbsp;guidance&nbsp;for the full fiscal year 2024.

Guidance

SQSP

Squarespace to Go Private with Permira, Suspends Earnings Calls and Guidance

LightInTheBox Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LITB#NYSE">LITB</a>) reported quarterly earnings of $0.01 per share. This is a 200 percent increase over losses of $(0.01) per share from the same period last year. The company reported $69.36 million in sales this quarter. This is a 63.83 percent decrease over sales of $191.77 million the same period last year.

LITB

LightInTheBox Holding Q2 EPS $0.01 Up From $(0.01) YoY, Sales $69.36M Down From $191.77M YoY

Rapid Micro Biosystems Reaffirms Its 2024 Total Revenue Guidance Of At Least $27M Compared To Consensus Of $27.066M And The Placement Of At Least 20 Systems; The Company Continues To Expect Gross Margin To Be Positive For Third And Fourth Quarters Of 2024

<ul>
<li>Cash flow from operations of&nbsp;$1.4-$1.5 billion; free cash flow of&nbsp;$800-$900 million</li>
<li>Committed to being 3.5x leverage or lower and within our long-term targeted range</li>
</ul>

BERY

Berry Now Sees FY24 Adjusted EPS Of $7.60 Vs Prior View $7.35 - $7.85; Est $7.55

Morgan Stanley analyst Adam Jonas upgrades Mobileye Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) from Underweight to Equal-Weight and lowers the price target from $25 to $18.

Upgrades

MBLY

Morgan Stanley Upgrades Mobileye Global to Equal-Weight, Lowers Price Target to $18

Earnings Beats

Earnings Misses

Squarespace Q2 2024 GAAP EPS $0.04 Misses $0.09 Estimate, Sales $296.769M Beat $293.134M Estimate

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of $0.58 per share which missed the analyst consensus estimate of $0.64 by 9.38 percent. This is a 14.71 percent decrease over earnings of $0.68 per share from the same period last year. The company reported quarterly sales of $5.291 billion which missed the analyst consensus estimate of $5.713 billion by 7.39 percent. This is a 13.08 percent increase over sales of $4.679 billion the same period last year.

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Heritage Mining

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Latest news for Heritage Mining (OTC:HMNGF) Stock