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The Funds strategy seeks to identify the global market segment displaying the strongest price momentum metrics. The strategy utilizes Gradients rules-based, two-factor approach to create tactical investment opportunities.

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Innovator Gradient Tactical Rotation Strategy ETF

Innovator ETFs Trust Innovator Gradient Tactical Rotation Strategy ETF

By <a href="https://elplanteo.com/author/lucia-tedesco/" rel="noreferrer noopener" target="_blank">Luc&iacute;a Tedesco</a> via <a href="https://elplanteo.com/mexico-metanfetaminas-onu/" rel="noreferrer noopener" target="_blank">El Planteo</a>
The United Nations (UN) released the 2024 World Drug Report, revealing that Mexico is one of the largest producers of methamphetamine and fentanyl globally, alongside Myanmar, Afghanistan, and Syria.
This report, prepared by the United Nations Office on Drugs and Crime (UNODC), highlights growing concerns about the expansion of synthetic drug production.
<h2>Mexico&#39;s Role In Methamphetamine And Synthetic Drug Production</h2>
&quot;Synthetic drugs can be produced anywhere and their illegal manufacture is expanding in low-, middle- and high-income countries. However, large-scale manufacture remains concentrated in areas affected by governance challenges and instability, for example in Afghanistan, Mexico, Myanmar and the Syrian Arab Republic,&quot; states the UNODC report. For instance, criminal organizations such as the Sinaloa Cartel and the Jalisco New Generation Cartel dominate methamphetamine production and trafficking.
Mexico has positioned itself as the leading methamphetamine producer in the Americas; its proximity to the U.S. market, where demand for synthetic drugs has increased, makes the country a hub for the production and distribution of these substances.
<h2>Other Key Findings From The Report</h2>
In addition to identifying Mexico as the principal methamphetamine producer, the report revealed other key data about global drug use. For example, cannabis remains the most widely consumed drug in the world.
UNODC also determined that 292 million people are users of one or more drugs. This figure is significantly higher than in previous years, justifying the 20% increase in drug use recorded in the report.
This article is from an external unpaid contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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UN Exposes Mexico's Dominance As A Global Meth And Fentanyl Producer

Tom Trowbridge, Co-Founder of Fluence, a decentralized compute platform, emphasized the critical role of building resilient networks for a secure and robust future of decentralized computing, highlighting why these are essential for the future of cloud computing.
In an interview with Benzinga, he said a resilient network is what separates a decentralized marketplace from a truly functional platform and that in a marketplace, users have to find individual compute providers, and if one fails, they&#8217;re left scrambling to find another.
In a resilient network, however, the system automatically allocates tasks to the next available provider if there&#8217;s a failure. This eliminates the risk of a single point of failure and reduces the power any one provider has over pricing.&#8221;
Trowbridge&#8217;s comments come as Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19 will discuss the growing interest in DePIN (Decentralized Infrastructure Provisioning Networks) and their potential to disrupt traditional cloud computing models.
Fluence is building a &#8220;cloudless compute platform,&#8221; essentially a decentralized version of Amazon&#8217;s serverless offering, Lambda.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39670551/bitcoin-plunges-to-56k-as-german-government-continues-liquidating-its-holdings">Bitcoin Plunges To $56K As German Government Continues Liquidating Its Holdings</a>
Focus On CPU Power For Now
While some decentralized computing projects focus on aggregating GPU (Graphics Processing Unit) capacity, Fluence prioritizes CPUs (Central Processing Units). &#8220;CPUs are the workhorse of the computing world,&#8221; said Trowbridge. 
&#8220;They handle most of the tasks businesses and applications use every day. While GPUs are becoming increasingly important for specialized tasks like AI, CPUs remain the foundation of computing.&#8221;
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Security Through Proofs
Fluence utilizes cryptographic proofs to ensure the security and integrity of its network. &#8220;These proofs verify the capacity providers claim to have and validate the computations that are completed,&#8221; explained Trowbridge. &#8220;Providers are rewarded for contributing capacity, but if they stop providing proofs, they lose out on those rewards.&#8221;
Beyond AI: Fluence Sees Wider Applications
While Fluence is not currently optimized for AI engines, it plays a crucial role in the AI development process. &#8220;Our platform excels at data cleaning and standardization, a critical but often overlooked step in AI development,&#8221; said Trowbridge. &#8220;Furthermore, decentralizing the front-end of AI models offers advantages like censorship resistance.&#8221;
Cost Savings and User Freedom
Fluence aims to bring down the cost of computing by creating an open and commoditized market. &#8220;By allowing users to easily switch providers, we prevent any single provider from dominating the market and driving prices up,&#8221; Trowbridge said. 
&#8220;The openness of our platform also gives users the freedom to build applications and services without worrying about being locked into a specific provider.&#8221;
As the industry prepares for the Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event, Fluence&#8217;s focus on network resilience, security, and user freedom positions it as a key player in the evolving landscape of decentralized cloud computing.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39651051/these-altcoins-show-bullish-signals-while-bitcoin-faces-critical-juncture">These Altcoins Show Bullish Signals While Bitcoin Faces Critical Juncture</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

EXCLUSIVE: Fluence Co-Founder Emphasizes Network Resilience For Secure Decentralized Computing

Now available in private preview, SAS' leading decision intelligence capabilities will easily combine AI models for seamless decision making
CARY, N.C., July 8, 2024 /PRNewswire/ -- Data and AI leader SAS has made <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4204417-1&amp;h=396000426&amp;u=https%3A%2F%2Fwww.sas.com%2Fen_us%2Foffers%2F23q4%2Fmicrosoft-fabric.html&amp;a=SAS+Decision+Builder">SAS Decision Builder</a>, a cloud-based intelligent decisioning solution, available in private preview on Microsoft Fabric. Created from SAS' leading <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4204417-1&amp;h=1135821373&amp;u=https%3A%2F%2Fwww.sas.com%2Fen_us%2Fsoftware%2Fintelligent-decisioning.html&amp;a=intelligent+decisioning+capabilities">intelligent decisioning capabilities</a>, SAS Decision Builder workloads will help customers make better, faster and more secure decisions by compiling multiple artificial intelligence models, rules and procedure logic into a composite workflow.
This is a critical step for organizations looking to maximize their return on their analytics investments with AI-automated decision making. SAS Decision Builder is a new Microsoft Fabric workload that streamlines the analytics life cycle by enabling customers to design, integrate and deploy models and decisions. With easy access to data from Microsoft Fabric OneLake, users can test, modify and run decisions all within the Fabric environment to adjust to changing market landscapes and meet their unique business needs.

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SAS Decision Builder On Microsoft Fabric Translates AI Into Business Outcomes

Bain Capital In Advanced Talks To Acquire Envestnet At Close To Current Market Value

Global

Citi Announces It Will Cease Its Operations In Haiti; To Pursue The Voluntary Surrender Of Its Banking License, With The Approval Of Banque De La République D'haiti; Made In Part Due To Diminished International Activity & Lower Institutional Client Demand In Haiti; Will Not Have A Material Economic Impact To Citi, Nor To Its International Clients

Crypto analyst Benjamin Cowen shed light on Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) potential trajectory in the fourth quarter of 2024, charting several <a href="https://www.benzinga.com/money/bitcoin-price-prediction">potential price paths</a>.
What Happened: Cowen <a href="https://x.com/intocryptoverse/status/1809805591453258032">pointed out</a> on Sunday that Bitcoin&#8217;s performance in Q4 2024 will largely depend on whether it can surpass its bull market support band (BMSB) in the next few weeks.
He noted that Bitcoin has previously fallen below its BMSB during summer lulls, as seen in 2013, 2016 and 2023. In these instances, Bitcoin managed to rally hard in Q4. However, he also highlighted the summer of 2019, when Bitcoin entered a downtrend after falling below the BMSB, resulting in a Q4 decline.
Another crypto trader predicted $95,000 for Bitcoin and suggested not believing that it will reach new lows. He <a href="https://x.com/BitQua/status/1809985575773950118">pointed</a> out that only three out of 120 indicators are bearish, stating to, "decide whether you are betting on an event that has a 2.5% chance of happening or a 97.5% chance."
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39669107/line-in-the-sand-will-make-or-break-bitcoins-bull-market-top-traders-say">&#8216;Line In The Sand&#8217; Will Make Or Break Bitcoin&#8217;s Bull Market, Top Traders Say</a>
Why It Matters: Cowen&#8217;s analysis suggests two potential outcomes for Bitcoin in Q4 2024:
<ul>
<li>If it follows the 2019 trend, Bitcoin may experience a decline. </li>
<li>If it mirrors the 2013, 2016 and 2023 trends, Bitcoin could see a significant rally.</li>
</ul>
A Q4 decline could lead to a "normal peak" in Q4 2025, as Bitcoin usually peaks in the post-halving year, according to Cowen. Conversely, a parabolic rally in Q4 2024 could suggest an earlier peak in the cycle, providing more evidence to the left-translated peak theory.
Cowen concluded his analysis by stating that the answer will likely depend on whether Bitcoin can surpass its BMSB in the coming weeks.
What&#8217;s Next: The influence of <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a> is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39656790/bitcoins-bullish-future-analyst-predicts-80-rally-after-correction-but-heres-the-catch">Bitcoin&#8217;s Bullish Future: Analyst Predicts 80% Rally After Correction, But Here&#8217;s The Catch</a></li>
</ul>
Image: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$BTC

Bitcoin's Performance For The Rest Of 2024 Hinges On This Historical Pattern

Palo Alto Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/panw#NASDAQ">PANW</a>) shares have risen 10.7% over the past month, outperforming the Zacks Internet - Software industry&#39;s growth of 5.2% and the broader Zacks Computer &amp; Technology sector&#39;s return of 7.9%.
The upswing was primarily driven by positive demand signals from other cybersecurity companies, including Zscaler Inc. and CrowdStrike Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crwd#NASDAQ">CRWD</a>). As reported on May 30, Zscaler&#39;s third-quarter fiscal 2024 revenues increased 32% year over year, while non-GAAP earnings soared 83%. CrowdStrike reported its first-quarter fiscal 2025 results on Jun 4, wherein revenues jumped 33%, while non-GAAP earnings rose 63%.
The latest quarterly results from Zscaler and CrowdStrike suggest that the demand environment for cybersecurity players is still strong. However, Palo Alto&#39;s slowing sales and earnings growth remains a major concern.
<h3>One-Month Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a1/70591.jpg?v=2138069999" style="height:240px; width:610px" /> 
Image Source: Zacks Investment Research
<h3>What&#39;s Hurting PANW&#39;s Top-Line Growth?</h3>
Over the past year, Palo Alto has reported decelerated growth in revenues, billings and adjusted earnings. It has blamed uncertain macroeconomic conditions as the main reason behind this deceleration.
However, the cybersecurity industry is highly competitive, with each player continuously innovating and vying for market share. To address these threats, Palo Alto is aiming to consolidate its customer base into a unified security platform, reducing reliance on smaller cybersecurity firms for specific services.
The strategy would have long-term benefits, including a more stable, predictable revenue stream and stronger market positioning. However, the company is offering free trials and deferred billing options to accelerate the adoption of this unified platform among customers, which is hurting Palo Alto&#39;s revenues, billings and adjusted earnings growth.
Palo Alto expects fiscal 2024 revenues between $7.99 billion and $8.01 billion, indicating approximately 16% year-over-year growth, much lower than the 25% year-over-year rise it reported in fiscal 2023.
The Zacks Consensus Estimate for fiscal 2024 earnings is currently pegged at $5.57 per share, up by a penny over the past 30 days and indicating a 25.5% year-over-year increase. In fiscal 2023, non-GAAP earnings soared 76% on a year-over-year basis.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/85/70590.jpg?v=473904413" style="height:170px; width:610px" /> 
Image Source: Zacks Investment Research
<h3>Strong Long-Term Prospects</h3>
Despite having near-term challenges, long-term prospects for Palo Alto seem to be bright. It is a market leader in cybersecurity, offering solutions that address network security, cloud security and endpoint protection. The company&#39;s next-generation firewall and advanced threat detection technologies are widely recognized and adopted by enterprises globally.
The global cybersecurity market is poised for substantial growth, with projections indicating an increase from $172.2 billion in 2023 to $424.97 billion by 2030, as per a report by Fortune Business Insights. Palo Alto Networks, with its comprehensive and innovative solutions, is well-positioned to capture a significant share of this expanding market.
An expanding portfolio is critical to Palo Alto&#39;s long-term prospects, enhancing its competitive edge in the rapidly evolving cybersecurity market. It is strategically expanding beyond its core firewall business and trying to capture market share in adjacent areas like Secure Access Service Edge.
An expanded portfolio generates multiple revenue streams, mitigating the impact of market fluctuations on any single product. This diversification ensures more stable and predictable financial performance, appealing to investors seeking long-term growth.
Additionally, Palo Alto has partnered with NVIDIA Corporation&nbsp;and other tech companies, including Celona, Druid, Ataya, NetScout Systems and NTT Data, to offer robust private 5G security solutions and services. Together, these companies aim to deliver a secure, high-performance private 5G environment that supports critical applications and services across various industries.
Under this partnership, NVIDIA brings advanced AI and machine learning capabilities, enhancing threat detection and response. This alliance not only strengthens Palo Alto&#39;s position in the emerging private 5G market but also boosts its ability to provide end-to-end security solutions tailored to the needs of modern enterprises.
<h3>Final Thoughts</h3>
Considering the robust demand environment, portfolio strength and a strong partner base, Palo Alto&#39;s long-term prospects seem to be bright. However, the company&#39;s strategy of consolidating its customer base into a unified security platform is likely to continue hurting revenue and earnings growth in the near term.
Additionally, PANW stock is trading at a significant premium compared to the Zacks Internet Software industry. Its forward 12-month P/S of 12.27X is higher than the industry&#39;s 2.76X.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/0f/70592.jpg?v=1133712279" style="height:278px; width:610px" /> 
Image Source: Zacks Investment Research
We believe investors should wait for a better entry point for Palo Alto, which currently carries a Zacks Rank #3 (Hold), given the modest growth prospect and a stretched valuation in the near term.
<a href="https://www.zacks.com/stock/news/2297636/palo-alto-panw-up-11-in-a-month-what-s-next-for-investors?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2297636">To read this article on Zacks.com click here.</a>

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Palo Alto Up 11% in a Month: What's Next for Investors?

Capri-Sun Explores Minority Stake Sale; Working With Advisers To Gauge Interest

Investors in Consolidated Edison, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ed#NYSE">ED</a>) need to pay close attention to the stock based on moves in the options market lately. That is because the Aug 16, 2024 $50.00 Call had some of the highest implied volatility of all equity options today.
<h3>What is Implied Volatility?</h3>
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
<h3>What do the Analysts Think?</h3>
Clearly, options traders are pricing in a big move for Consolidated Edison shares, but what is the fundamental picture for the company? Currently, Consolidated Edison is a Zacks Rank #2 (Buy) in the Utility - Electric Power industry that ranks in the Top 29% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from earnings of 57 cents per share to 55 cents in that period. 
Given the way analysts feel about Consolidated Edison right now, this huge implied volatility could mean there&#39;s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
<a href="https://www.zacks.com/stock/news/2297707/is-the-options-market-predicting-a-spike-in-consolidated-edison-ed-stock?cid=CS-BENZ-FT-tale_of_the_tape|options-2297707">To read this article on Zacks.com click here.</a>

Options

Is the Options Market Predicting a Spike in Consolidated Edison Stock?

One of the most hawkish investment firms on Wall Street might soon revise its estimates and anticipate an earlier rate cut from the Federal Reserve if June&#8217;s new inflation figures confirm another unmistakable signal of a return <a href="https://www.benzinga.com/topic/inflation">towards the 2% target.</a>
Despite recent benign inflation reports, Bank of America still maintains its call for rate cuts to begin no earlier than December 2024. This stance, which contrasts sharply with the current market pricing seeing a 76% chance of cuts starting as early as September, may be softened after the upcoming Consumer Price Index (CPI) report on Thursday.
&#8220;We expect the June CPI report to be another confidence builder following the undeniably good May report,&#8221; wrote economist Michael Gapen in a recent note.
<h1 class="wp-block-heading">June CPI Projections</h1>
Bank of America forecasts the headline CPI to have risen by 0.1% month-over-month, partly due to another drop in energy prices. This would result in the year-over-year rate falling by a tenth to 3.2%. 
Analysts expect core CPI to have increased by 0.2% month-over-month. 
&#8220;While this is not quite as low as May, it would be a good print for the Fed,&#8221; Gapen added.
The key driver of the forecasted acceleration in core CPI relative to May is core services excluding rent and owner&#8217;s equivalent rent (non-housing services). 
This aggregate category surprisingly edged down in May, largely due to a slight decline in motor vehicle insurance. For June, however, increases in motor vehicle insurance and non-housing services are expected. 
Non-housing services inflation should moderate over time given cooling services wage inflation; however, a sustained period of deflation is unlikely.
Aside from services, core goods prices are expected to have fallen for a fourth consecutive month, partly due to another decline in new vehicle prices. Inventories of new vehicles continue to climb, leading to greater use of incentives by manufacturers. 
Beyond this month, upside risks to core goods through higher shipping costs are seen. However, with demand cooling, it may be harder to pass these costs onto consumers.
<h1 class="wp-block-heading">Implications for Fed Policy</h1>
Should the CPI report print in line with Bank of America&#8217;s expectations, the firm would maintain its expectation for the Fed to start its cutting cycle in December. 
That said, another 0.2% month-over-month print for core CPI would tilt the risk towards an earlier cut, especially given signs of softening activity.
<h1 class="wp-block-heading">Analysts Maintain Positive View On Stocks</h1>
Bank of America technical analysts continue to hold a bullish view on U.S. equities. 
The S&amp;P 500 (SPX), S&amp;P 100 (SP. SP100), NASDAQ 100 and NASDAQ Composite (CCMP) have all soared to new all-time highs in early July, signaling robust market confidence and momentum. However, not all indices are sharing in the celebration. The Russell 2000, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>),
Invesco S&amp;P 500 Equal Weight ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>) and the SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) continue to lag, falling short of reaching new peaks.
Even these laggards have constructive absolute chart patterns that support the case for higher highs, but they need to join the SPX at new highs to confirm a healthy summer rally for U.S. equities.
Read Now:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39666482/french-luxury-stocks-fall-as-tax-concerns-rise-after-left-wing-election-upset-a-left-government-">French Luxury Stocks Fall As Tax Concerns Rise After Left-Wing Election Upset: &#8216;A Left Government Might Pose Challenges For Billionaire Owners&#8217;</a></li>
</ul>

Photo: Shutterstock

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Rydex ETF Trust Rydex S&P Equal Weight ETF

If June Inflation Report Is 'Another Confidence Builder,' Fed Rate Cut Will Come Next: Bank Of America

Enphase Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enph#NASDAQ">ENPH</a>) recently unveiled IQ Battery 5P, its most potent home battery solution, to the French solar market. This battery comes with a storage capacity of 5 kilowatt-hours (kWh), and in conjunction with ENPH&#39;s new IQ8 microinverters, IQ Battery 5P can provide dependable energy to residential clients whenever they desire it.
<h3>Benefits of the Launch</h3>
With the entire Europe quickly moving toward electrification, it is imperative to mention that France has the fifth-largest solar deposit in the European region. This offers a solid growth opportunity for efficient storage solutions like those provided by Enphase Energy to ensure a stable and reliable energy supply. 
With enhanced power, robust wired connectivity and a better commissioning experience, ENPH&#39;s new Enphase Energy System with the IQ Battery 5P will now offer a significantly enhanced experience for both solar homeowners and installers across France. With the IQ Battery 5P, homeowners can take charge of their energy future with a durable and scalable energy storage solution. 
Furthermore, French homeowners may now check performance and control their battery systems intelligently using the Enphase App. 
Therefore, with its latest introduction, Enphase will undoubtedly reach out to more homeowners and installers in France as they are increasingly adopting solar energy and aim to become more grid-independent. This should result in more customers selecting ENPH&#39;s battery solutions as well as the home energy system, thereby boosting its future revenues.&nbsp;
<h3>Growth Prospects</h3>
As the market for renewable energy is expanding rapidly, the demand for storage solutions has skyrocketed as battery storage facilitates the integration of renewable energy. As a result, the energy storage market is growing quickly worldwide. The Mordor Intelligence firm expects global battery storage to witness a CAGR of 8.7% over the 2024-2029 period. As ENPH works to offer the most cutting-edge technology in the battery storage market that guarantees sustainability and long-term dependability, the aforementioned market growth should be beneficial for the company. 
Apart from France, Enphase presently distributes the IQ Battery 5P in the United States, Australia, the United Kingdom and Italy. ENPH hopes to launch its fourth-generation battery in late 2024 with the goal of dramatically reducing energy intensity. Such activities are likely to allow ENPH to generate additional revenues from the Battery Storage Market in the future days.
<h3>Peers to Benefit</h3>
Other prominent solar players like Emeren Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sol#NYSE">SOL</a>), SolarEdge Technologies and Canadian Solar (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csiq#NASDAQ">CSIQ</a>) are also expanding their footprint to reap the benefits of the expanding Battery Storage Market. 
Emeren develops battery storage projects. As of Mar 31, 2024, its battery storage portfolio comprised 19 MWh, while its total energy storage project pipeline had increased to more than 8 GW. 
The Zacks Consensus Estimate for SOL&#39;s 2024 sales implies an improvement of 33.7% from the prior-year figure. The Zacks Consensus Estimate for the company&#39;s 2024 earnings per share is pegged at 29 cents, which indicates a massive rise from its 2023 reported EPS of 2 cents. 
SolarEdge offers several energy storage options, including battery cells, modules, racks and containerized systems. Its end-to-end Battery Energy Storage System solutions are constructed with purpose-made hardware and software, allowing for easy and rapid installation and integration on-site. Its Energy Storage revenues increased 16.2% year over year in the first quarter of 2024. 
SEDG has a long-term (three to five years) earnings growth rate of 12.3%. Its shares have risen 18.9% in the past 10 years. 
Canadian Solar boasts a strong presence in the energy storage industry, with 600 MWh of battery energy storage projects in operation. As of Mar 31, 2024, Canadian Solar&#39;s total battery storage project development pipeline was 55.9 gigawatt-hours (GWh), including 4.3 GWh under construction and in the backlog and 51.6 GWh of projects in advanced and early-stage pipelines. 
CSIQ has a long-term earnings growth rate of 25%. The Zacks Consensus Estimate for its 2024 sales implies an improvement of 2.5% from the prior-year figure.
<h3>Price Movement</h3>
In the past year, shares of Enphase Energy have declined 44.6% compared with the industry&#39;s fall of 44.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/45/70593.jpg?v=1016416873" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
Enphase Energy currently carries a Zacks Rank #5 (Strong Sell).
<a href="https://www.zacks.com/stock/news/2297625/enphase-energy-enph-introduces-iq-battery-5p-in-france?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2297625">To read this article on Zacks.com click here.</a>

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ENPH

Enphase Energy Introduces IQ Battery 5P in France

Shares of Arhaus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARHS#NASDAQ">ARHS</a>) fell sharply <a href="https://www.benzinga.com/quote/ARHS/analyst-ratings">during Monday's session</a>.
Jefferies analyst Jonathan Matuszewski downgraded Arhaus from Buy to Hold and lowered the price target from $22 to $16.
Arhaus shares dipped 7.9% to $14.55 on Monday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Morphic Holding, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MORF#NASDAQ">MORF</a>) shares jumped 75% to $55.72 after Eli Lilly agreed to buy the company for $57 per share in cash.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) climbed 71% to $6.97 after jumping around 50% on Friday.</li>
<li>SRIVARU Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVMH#NASDAQ">SVMH</a>) shares climbed 61.3% to $0.2549 after the company announced the deployment of advanced AI tools to manage its lead generation platform.</li>
<li>Inspire Veterinary Partners, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVP#NASDAQ">IVP</a>) shares climbed 47% to $2.1928 after gaining 8% on Friday.</li>
<li>Hywin Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYW#NASDAQ">HYW</a>) gained 39.5% to $0.4352.</li>
<li>Shapeways Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPW#NASDAQ">SHPW</a>) climbed 39% to $0.2918 after dipping 22% on Friday.</li>
<li>Myomo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYO#NYSE">MYO</a>) gained 32% to $3.80 after the company issued preliminary second-quarter revenue guidance above estimates.</li>
<li>Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) shares rose 31% to $0.3129 after jumping over 38% on Friday.</li>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) climbed 31% to $0.7660 after the company closed a $2.5 million secured loan financing from an institutional investor, enabling the final payment of its litigation settlement.</li>
<li>LL Flooring Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LL#NYSE">LL</a>) surged 20.4% to $0.6789.</li>
<li>Nikola Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) rose 18.5% to $10.65.</li>
<li>Grifols, S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRFS#NASDAQ">GRFS</a>) gained 17.2% to $8.24 after Brookfield confirmed it held exploratory discussions with certain shareholders of the company in relation to a potential joint offer for Grifols&#8217; shares.</li>
<li>Pulse Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLSE#NASDAQ">PLSE</a>) gained 17.2% to $14.13 after the company announced it received the Breakthrough Device Designation from the FDA for its Cardiac Surgery System for the ablation of cardiac tissue for the treatment of atrial fibrillation.</li>
<li>Newegg Commerce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEGG#NASDAQ">NEGG</a>) climbed 16% to $1.23. Newegg Commerce said the Presale for its tenth annual FantasTech Sales event is now live.</li>
<li>Ocean Power Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#NASDAQ">OPTT</a>) rose 16% to $0.4164 after the company signed a reseller agreement with Survey Equipment Services focused on the provision of OPT&#8217;s unmanned surface vehicles in the US.</li>
<li>Mainz Biomed N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNZ#NASDAQ">MYNZ</a>) gained 16% to $0.45.</li>
<li>R1 RCM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCM#NASDAQ">RCM</a>) shares climbed 14.2% to $12.52.</li>
<li>Acelyrin, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRN#NASDAQ">SLRN</a>) gained 13.6% to $4.60.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) shares gained 12.3% to $31.89 after surging 20% on Friday.</li>
<li>IDEAYA Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDYA#NASDAQ">IDYA</a>) shares gained 12.1% to $38.41 after the company announced interim Phase 2 monotherapy expansion data for IDE397 in MTAP-deletion urothelial and lung cancer. Additionally, Mizuho initiated coverage on the stock with an Outperform rating.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) rose 11.3% to $27.88 after B of A Securities upgraded the stock from Underperform to Neutral.</li>
<li>Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) gained 9.4% to $42.05 after the company increased its second-quarter core sales guidance.</li>
<li>Dynatronics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DYNT#NASDAQ">DYNT</a>) shares rose 8.6% to $0.2310 after declining around 8% on Friday.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) rose 4.6% to $21.41. Paramount Global and Skydance Media inked a definitive agreement to create a new entity, "New Paramount," in a $28 billion merger deal.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) gained 3.8% to $33.26. Intel has bypassed Vietnam for a substantial investment project, citing insufficient investment incentives.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>HilleVax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLVX#NASDAQ">HLVX</a>) shares dipped 86.7% to $1.87 after the company announced the NEST-IN1 clinical study did not meet its primary or secondary efficacy endpoints, and the company will discontinue further development of HIL-214 in infants.</li>
<li>Adamas One Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JEWL#NASDAQ">JEWL</a>) shares dipped 83% to $0.3360 after dipping over 20% on Friday.</li>
<li>China Liberal Education Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) shares fell 66.4% to $0.7303 after dipping 24% on Friday.</li>
<li>SYLA Technologies Co., Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYT#NASDAQ">SYT</a>) fell 31.1% to $2.0950.</li>
<li>Chijet Motor Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NASDAQ">CJET</a>) dipped 28.4% to $5.80.</li>
<li>Ryde Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYDE#NASDAQ">RYDE</a>) declined 22.8% to $6.33.</li>
<li>Koss Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOSS#NASDAQ">KOSS</a>) fell 21% to $10.55.</li>
<li>Wetouch Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WETH#NASDAQ">WETH</a>) fell 19.5% to $2.57. Wetouch Technologies announced a $15 million stock buyback program to repurchase common stock.</li>
<li>Calidi Biotherapeutics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLDI#NYSE">CLDI</a>) declined 19.4% to $0.16</li>
<li>Beneficient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) shares fell 15.2% to $4.1050. Beneficient said it will release its fourth quarter financial results before the opening bell on Tuesday, July 9.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) shares fell 15.1% to $18.77.</li>
<li>Vivakor inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIVK#NASDAQ">VIVK</a>) shares fell 15% to $1.97.</li>
<li>Inventiva S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVA#NYSE">IVA</a>) shares fell 12% to $2.6050 after the company issued an update on its NATiV3 clinical program evaluating lanifibranor in patients with MASH/NASH and its financial position.</li>
<li>Uxin Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) dipped 11.3% to $1.77 after the company announced a partnership with Zhengzhou Airport Industry for the launch of a new used car superstore.</li>
<li>Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>) fell 10.7% to $3.3099.</li>
<li>The Greenbrier Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) dipped 10.6% to $43.37 after the company reported worse-than-expected quarterly financial results.</li>
<li>Qualigen Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) shares declined 7.2% to $0.2599 after jumping 60% on Friday.</li>
<li>Assure Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONM#NASDAQ">IONM</a>) fell 7% to $0.2943.</li>
<li>Zuora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZUO#NYSE">ZUO</a>) fell 5.6% to $9.02. Craig-Hallum analyst Chad Bennett downgraded Zuora from Buy to Hold and lowered the price target from $12 to $10.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/07/39667298/this-dominos-analyst-turns-bullish-here-are-top-5-upgrades-for-monday">This Domino&#8217;s Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a>

Intraday Update

Movers

ARHS

BENF

CJET

CLDI

CLEU

DYNT

GRFS

HLVX

IDYA

INTC

IONM

JEWL

KOSS

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

MORF

MYNZ

NEGG

NKLA

OPTT

PARAA

PLSE

Qualigen Therapeutics, Inc. - Common Stock

QLGN

RYDE

SEDG

SHPW

SIRI

SLRN

SVMH

UXIN

VIVK

VRPX

WETH

ZAPP

Why Arhaus Shares Are Trading Lower By Around 8%? Here Are Other Stocks Moving In Monday's Mid-Day Session

Benzinga's options scanner has just identified more than 8 option transactions on Unity Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>), with a cumulative value of $774,990. Concurrently, our algorithms picked up 2 puts, worth a total of 106,043.
<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 $12.5 to $17.5 for Unity Software during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Unity Software stands at 2741.0, with a total volume reaching 3,040.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Unity Software, situated within the strike price corridor from $12.5 to $17.5, throughout the last 30 days.
<h3>Unity Software Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720458948_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>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>U</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$1.53</td>
<td>$1.52</td>
<td>$1.53</td>
<td>$16.00</td>
<td>$295.5K</td>
<td>1.0K</td>
<td>1.5K</td>
</tr>
<tr>
<td>U</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$1.49</td>
<td>$1.48</td>
<td>$1.49</td>
<td>$16.00</td>
<td>$149.0K</td>
<td>1.0K</td>
<td>108</td>
</tr>
<tr>
<td>U</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.15</td>
<td>$4.1</td>
<td>$4.15</td>
<td>$14.00</td>
<td>$124.5K</td>
<td>503</td>
<td>0</td>
</tr>
<tr>
<td>U</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.27</td>
<td>$1.22</td>
<td>$1.23</td>
<td>$12.50</td>
<td>$70.0K</td>
<td>4.4K</td>
<td>21</td>
</tr>
<tr>
<td>U</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$3.85</td>
<td>$3.75</td>
<td>$3.85</td>
<td>$17.00</td>
<td>$42.3K</td>
<td>1.7K</td>
<td>0</td>
</tr>
</tbody>
</table>

<h3>About Unity Software</h3>
Unity Software Inc provides a software platform for creating and operating interactive, real-time 3D content. The platform can be used to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The business is spread across the United States, Greater China, EMEA, APAC, and Other Americas, of which key revenue is derived from the EMEA region. The products are used in the gaming industry, architecture and construction sector, animation industry, and designing sector.
<h3>Present Market Standing of Unity Software</h3>
<ul>
<li>With a volume of 5,547,289, the price of U is up 3.88% at $16.32. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 23 days.</li>
</ul>
<h3>What Analysts Are Saying About Unity Software</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $19.5.
<ul>
<li>Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Unity Software, targeting a price of $25. </li>
<li>Maintaining their stance, an analyst from Macquarie continues to hold a Underperform rating for Unity Software, targeting a price of $14. </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 Unity Software, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Market Whales and Their Recent Bets on Unity Software Options

Whales with a lot of money to spend have taken a noticeably bullish stance on Zscaler.
Looking at options history for Zscaler (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) we detected 15 trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $651,068 and 10, calls, for a total amount of $517,210.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $270.0 for Zscaler during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Zscaler options trades today is 359.21 with a total volume of 101.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Zscaler's big money trades within a strike price range of $140.0 to $270.0 over the last 30 days.
<h3>Zscaler 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720458943_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ZS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$37.05</td>
<td>$36.3</td>
<td>$37.05</td>
<td>$200.00</td>
<td>$203.7K</td>
<td style="text-align: right;">254</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>ZS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$48.3</td>
<td>$47.35</td>
<td>$48.3</td>
<td>$220.00</td>
<td>$193.2K</td>
<td style="text-align: right;">81</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ZS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$8.3</td>
<td>$7.05</td>
<td>$8.3</td>
<td>$140.00</td>
<td>$166.0K</td>
<td style="text-align: right;">432</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ZS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/12/24</td>
<td>$20.3</td>
<td>$19.1</td>
<td>$20.3</td>
<td>$180.00</td>
<td>$101.5K</td>
<td style="text-align: right;">93</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ZS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$22.4</td>
<td>$21.4</td>
<td>$22.0</td>
<td>$220.00</td>
<td>$92.4K</td>
<td style="text-align: right;">101</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Zscaler</h3>
Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler's offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.
Having examined the options trading patterns of Zscaler, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Zscaler</h3>
<ul>
<li>Trading volume stands at 1,148,041, with ZS's price down by -0.75%, positioned at $200.14.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 57 days.</li>
</ul>
<h3>Professional Analyst Ratings for Zscaler</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $239.6.
<ul>
<li>Reflecting concerns, an analyst from Needham lowers its rating to Strong Buy with a new price target of $290.</li>
<li>An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $270. </li>
<li>In a cautious move, an analyst from BMO Capital downgraded its rating to Outperform, setting a price target of $208. </li>
<li>An analyst from JP Morgan upgraded its action to Overweight with a price target of $230. </li>
<li>An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $200. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Zscaler options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

What the Options Market Tells Us About Zscaler

Deep-pocketed investors have adopted a bearish approach towards Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BAC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for Bank of America. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 34% leaning bullish and 65% bearish. Among these notable options, 7 are puts, totaling $213,825, and 16 are calls, amounting to $1,083,487.
<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 $15.0 to $50.0 for Bank of America over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bank of America's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bank of America's significant trades, within a strike price range of $15.0 to $50.0, over the past month.
<h3>Bank of America Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720458938_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 style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$18.2</td>
<td>$18.0</td>
<td>$18.04</td>
<td>$23.00</td>
<td>$180.0K</td>
<td>2.7K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$16.35</td>
<td>$15.75</td>
<td>$16.35</td>
<td>$25.00</td>
<td>$163.5K</td>
<td>10.5K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$14.8</td>
<td>$13.65</td>
<td>$13.8</td>
<td>$28.00</td>
<td>$138.0K</td>
<td>5.8K</td>
<td style="text-align: right;">20</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$12.0</td>
<td>$11.5</td>
<td>$11.9</td>
<td>$30.00</td>
<td>$119.0K</td>
<td>15.1K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$2.45</td>
<td>$2.42</td>
<td>$2.45</td>
<td>$38.50</td>
<td>$73.5K</td>
<td>996</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Bank of America</h3>
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
<h3>Where Is Bank of America Standing Right Now?</h3>
<ul>
<li>With a volume of 10,390,293, the price of BAC is up 0.31% at $40.53. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 8 days.</li>
</ul>
<h3>Professional Analyst Ratings for Bank of America</h3>
In the last month, 4 experts released ratings on this stock with an average target price of $44.5.
<ul>
<li>An analyst from Keefe, Bruyette &amp; Woods upgraded its action to Outperform with a price target of $46. </li>
<li>Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on Bank of America with a target price of $41. </li>
<li>In a positive move, an analyst from Seaport Global has upgraded their rating to Buy and adjusted the price target to $48. </li>
<li>An analyst from Evercore ISI Group persists with their Outperform rating on Bank of America, maintaining a target price of $43. </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 Bank of America, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Unpacking the Latest Options Trading Trends in Bank of America

Investors in SunOpta Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stkl#NASDAQ">STKL</a>) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 20, 2024 $3.00 Call had some of the highest implied volatility of all equity options today.
<h3>What is Implied Volatility?</h3>
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
<h3>What do the Analysts Think?</h3>
Clearly, options traders are pricing in a big move for SunOpta shares, but what is the fundamental picture for the company? Currently, SunOpta is a Zacks Rank #4 (Sell) in the Food - Miscellaneous industry that ranks in the Top 33% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from earnings of 2 cents per share to 1 cent in that period. 
Given the way analysts feel about SunOpta right now, this huge implied volatility could mean there&#39;s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
<a href="https://www.zacks.com/stock/news/2297693/do-options-traders-know-something-about-sunopta-stkl-stock-we-don-t?cid=CS-BENZ-FT-tale_of_the_tape|options-2297693">To read this article on Zacks.com click here.</a>

STKL

Do Options Traders Know Something About SunOpta Stock We Don't?

WIIM

AKAM

Akamai Technologies shares are trading higher after Scotiabank initiated coverage on the stock with a Sector Outperform rating and a $110 price target.

Editor&#8217;s note: The headline of this story has been updated to more accurately depict the nature of Nvidia&#8217;s sales of AI chips in China. 
Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is on track to sell $12 billion of artificial intelligence chips in China this year despite the U.S. export controls, the Financial Times <a href="https://www.ft.com/content/b76ef55b-21cd-498b-ac16-5660908bb8d2" target="_blank" rel="noreferrer noopener">reports</a>.
According to analyst forecasts, the company will deliver more than 1 million new H20 chips, designed to circumvent U.S. restrictions on selling AI processors to Chinese customers.
That figure is nearly double what Huawei is expected to sell for its China-made rival product, Ascend 910B, the FT cites SemiAnalysis, chip consultancy estimates.
Each H20 chip costs between $12,000 and $13,000, suggesting Nvidia could generate over $12 billion in sales, surpassing the $10.3 billion revenue from its entire China business in the previous financial year.
Colette Kress, Nvidia&#8217;s finance chief, noted a significant decline in revenue from its data center segment in China following the imposition of new export controls in October.
Before U.S. export controls, China accounted for more than a quarter of Nvidia&#8217;s total revenues. Even if the H20 chip meets analysts&#8217; expectations, China may account for about 10% of sales this year.
Analysts at Morgan Stanley and SemiAnalysis report that the H20 chip is now shipping in volume and is popular among Chinese customers despite its lower performance than Nvidia&#8217;s US-sold chips.
Most Chinese AI companies have built their AI models on Nvidia&#8217;s ecosystem, making a switch to Huawei&#8217;s infrastructure time-consuming and costly.
Despite the restrictions, Nvidia&#8217;s overall revenues from China, including Hong Kong, grew more than 50% year-on-year to $2.5 billion in the most recent quarter.
Recent reports indicated that Nvidia is under scrutiny because of reports of its <a target="_blank" href="https://www.benzinga.com/government/24/07/39616102/despite-restrictions-nvidia-chips-are-still-reaching-china-wsj" rel="noreferrer noopener">advanced AI chips</a> being smuggled into China.
Around 12,500 AI chips are estimated to be smuggled annually, while Nvidia sold over 2.6 million A100 and H100 chips globally last year.
Nvidia stock gained over 203% in the last 12 months. Investors can gain exposure to Nvidia through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: NVDA shares were trading lower by 0.76% at $127.40 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Government

Regulations

Emerging Markets

Media

NVDA

Nvidia Could Generate $12B In China With New AI Chips That Comply With US Restrictions: Report (CORRECTED)

Stitch Fix, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sfix#NASDAQ">SFIX</a>) strategic initiatives in AI-driven inventory management, pricing optimization, margin expansion, client engagement and efficient cost management underscore its commitment to innovation and efficiency. These efforts position the company for sustained growth and profitability in the dynamic retail landscape. 
By leveraging technology and data analytics, Stitch Fix not only improves operational efficiencies but also enhances client satisfaction, driving long-term success.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/17/70549.jpg?v=77303074" /> 
Image Source: Zacks Investment Research
<h3>Let&#39;s Dig Deeper</h3>
SFIX continues to harness AI and data analytics to streamline operations and elevate client satisfaction. The company&#39;s AI-driven inventory buying tool, informing nearly half of all inventory receipts, has significantly outperformed manually selected items, leading to notable efficiency gains. 
A comprehensive review of Stitch Fix&#39;s pricing architecture led to strategic adjustments projected to generate more than $20 million in annualized contribution profit. This optimization aligns price points across various business lines with the value offered, thereby enhancing profitability while effectively meeting client needs. 
SFIX is dedicated to reimagining the client experience through more dynamic and personalized interactions. This includes increasing the number of items in each fix, offering improved discount strategies, and enhancing the onboarding process. Early results from these initiatives are promising, with further enhancements planned for the summer of fiscal 2024. 
The company&#39;s efforts in refining client experience and engagement strategies have led to higher average order values (AOV) and improved retention metrics. The AOV has reached some of the highest levels ever recorded, indicating strong client satisfaction and loyalty. Additionally, Stitch Fix is committed to attracting and maintaining high lifetime value clients to drive sustained revenue growth. By refining its marketing approaches and enhancing client engagement, Stitch Fix aims to bolster client retention and secure long-term profitability. 
Additionally, Stitch Fix has made significant strides in expanding its gross margin, underscoring its focus on operational efficiency and cost management. In the third quarter of fiscal 2024, the gross margin expanded by 280 basis points year over year to 45.5%, driven by robust product margins and improved transportation leverage. These achievements are attributed to strategic efforts in optimizing pricing and inventory management. We expect gross margin expansions of 140 and 210 basis points in the fourth quarter and fiscal 2024, respectively.
<h3>Efficient Cost Management Bodes Well</h3>
Stitch Fix has demonstrated efficient cost management, evident through the decline in selling, general, and administrative (SG&amp;A) expenses, and cost of goods sold. Strategic actions, including optimizing operational processes and carefully managing expenditure, have contributed to these reductions. SG&amp;A expenses decreased 6.7% from $184.2 million in the prior-year quarter to $171.8 million in the quarter under review. Similarly, the cost of goods sold fell 20% from $219.7 million in the previous year to $175.8 million in the fiscal third quarter. 
The company&#39;s focus on diversifying carriers and optimizing logistics has led to the lowest transportation costs as a percentage of net sales since fiscal 2020. The closure of the Dallas distribution center further contributed to cost savings and operational efficiency. 
Stitch Fix has successfully reduced SG&amp;A expenses by more than $400 million on an annualized basis since the third quarter of fiscal 2022. This significant cost reduction highlights the company&#39;s commitment to maintaining lean operations, while investing in growth opportunities. We anticipate SG&amp;A expenses to decline 6.8% and 14.2% year over year in the fourth quarter and fiscal 2024, respectively. 
In the past six months, shares of this Zacks Rank #2 (Buy) company have gained 25.6% compared with the Zacks Retail-Apparel and Shoes industry&#39;s growth of 10.9%.
<h3>Other Solid Picks</h3>
Three other top-ranked stocks in the retail space are The Gap, Inc., Abercrombie &amp; Fitch Co.&nbsp;and Canada Goose. 
Gap is a premier international specialty retailer offering a diverse range of clothing, accessories and personal care products. It currently sports a Zacks Rank #1 (Strong Buy). 
The Zacks Consensus Estimate for Gap&#39;s fiscal 2024 earnings and sales indicates growth of 21.7% and 0.2%, respectively, from the fiscal 2023 reported figures. GPS has a trailing four-quarter average earnings surprise of 202.7%. 
Abercrombie is a specialty retailer of premium, high-quality casual apparel. It flaunts a Zacks Rank of 1 at present. ANF delivered a 28.9% earnings surprise in the last reported quarter. 
The consensus estimate for Abercrombie&#39;s fiscal 2024 earnings and sales indicates growth of 47.3% and 10.4%, respectively, from the fiscal 2023 reported levels. ANF has a trailing four-quarter average earnings surprise of 210.3%. 
Canada Goose is a global outerwear brand. It currently sports a Zacks Rank of 1. 
The Zacks Consensus Estimate for Canada Goose&#39;s fiscal 2025 earnings and sales indicates growth of 13.7% and 5.2%, respectively, from the year-ago actual. GOOS has a trailing four-quarter average earnings surprise of 70.9%.
<a href="https://www.zacks.com/stock/news/2297658/stitch-fix-s-sfix-strategic-ai-data-analytics-drive-growth?cid=CS-BENZ-FT-analyst_blog|rank_focused-2297658">To read this article on Zacks.com click here.</a>

SFIX

Stitch Fix's Strategic AI & Data Analytics Drive Growth

Shares of Macy&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>) jumped 9.5% on Jul 5, 2024 amid reports that activist investor Arkhouse Management and partner Brigade Capital Management have again sweetened their offer for the biggest U.S. department store chain. 
The Wall Street Journal reported Jul 3, 2024 that the firms raised their bid for Macy&#39;s by about $300 million to $6.9 billion. Their latest bid of $24.80 per share for shares they do not already own represents a 38.3% premium over Macy&#39;s closing price on Wednesday. 
This would mark the duo&#39;s third offer for Macy&#39;s since December 2023. The two companies initially presented Macy&#39;s with a $21-per-share deal in December, which the board rejected. That led Arkhouse and Brigade to launch a proxy fight that ended when Macy&#39;s approved two board members backed by the investors after Arkhouse and Brigade came back in March with a $24-per-share bid.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f4/70544.jpg?v=535399274" /> 
Image Source: Zacks Investment Research
<h3>Growth Prospects of the Stock</h3>
The company is implementing a robust revitalization strategy aimed at securing its position in the competitive retail sector. Central to this strategy is a focus on operational modernization, technological integration and enhanced customer engagement. 
Under the &quot;First 50 Pilot&quot; initiative, Macy&#39;s is strategically selecting 50 store locations to test new retail strategies, such as product introductions and visual merchandising enhancements. This initiative, spanning geographically diverse locations, has shown promising early results, including 3.4% growth in comparable sales and increased customer satisfaction in the first quarter of fiscal 2024. These insights are crucial for broader implementation across their stores. 
Simultaneously, Macy&#39;s is bolstering its omnichannel presence by overhauling its digital platforms and marketing strategies. By integrating online and in-store experiences, and enhancing digital marketing efforts, Macy&#39;s aims to improve the overall customer journey and increase customer loyalty and conversion rates. 
By launching the &quot;A Bold New Chapter&quot; strategy in fiscal 2024, Macy&#39;s aims to accelerate financial improvements through modernization and technological integration. This includes the closure of 150 underperforming stores and the enhancement of 350 others to optimize the company&#39;s real estate portfolio for increased profitability. 
Technological advancements, particularly the integration of artificial intelligence, are expected to streamline Macy&#39;s supply chain and enhance inventory management, thereby improving operational efficiency and responsiveness to market demands. 
Strategically, Macy&#39;s is pursuing asset monetization through the closure of stores and distribution centers, aiming to generate significant capital between fiscal 2024 and 2026. This initiative underscores the company&#39;s commitment to enhancing shareholder value and ensuring sustainable long-term growth. Having already raised more than $2.4 billion from real estate monetization between fiscal 2015 and 2023, Macy&#39;s is confident in its ability to secure financial stability and growth prospects. 
Looking ahead, this Zacks Rank #1 (Strong Buy) company has set ambitious targets for 2025 and beyond, including achieving annual low-single-digit growth in comparable sales and mid-single-digit growth in adjusted EBITDA. It also aims to return to the pre-pandemic levels of annual free cash flow, demonstrating confidence in its cash earnings and financial flexibility.
<h3>Estimate Trend</h3>
The positive sentiment surrounding Macy&#39;s is reflected in the upward revisions of the Zacks Consensus Estimate for earnings per share. Over the past 30 days, analysts have increased earnings estimates for the current fiscal year by 24 cents. The consensus estimate is pegged at $2.79 per share. The estimate for the next fiscal year has also been raised by 24 cents to $2.80 per share. 
The company has seen its shares rise 3.1% in the past six months, outpacing the Retail &ndash; Regional Department Stores industry&#39;s 0.3% growth. In the latest trading session, Macy&#39;s stock closed in at $19.64, nearing its 52-week high of $22.10, reflecting strong investor confidence and market optimism about the retailer&#39;s prospects. Additionally, trading above its 50-day and 200-day moving averages indicates robust upward momentum.
<h3>Three Other Solid Picks</h3>
Some other top-ranked stocks in the retail space are The Gap, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gps#NYSE">GPS</a>), Abercrombie &amp; Fitch Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anf#NYSE">ANF</a>) and Canada Goose (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/goos#NYSE">GOOS</a>). 
Gap is a premier international specialty retailer offering a diverse range of clothing, accessories and personal care products. It currently sports a Zacks Rank #1. 
The Zacks Consensus Estimate for Gap&#39;s fiscal 2024 earnings and sales indicates growth of 21.7% and 0.2%, respectively, from the fiscal 2023 reported figures. GPS has a trailing four-quarter average earnings surprise of 202.7%. 
Abercrombie is a specialty retailer of premium, high-quality casual apparel. It flaunts a Zacks Rank of 1 at present. ANF delivered a 28.9% earnings surprise in the last reported quarter. 
The consensus estimate for Abercrombie&#39;s fiscal 2024 earnings and sales indicates growth of 47.3% and 10.4%, respectively, from the fiscal 2023 reported levels. ANF has a trailing four-quarter average earnings surprise of 210.3%. 
Canada Goose is a global outerwear brand. It currently sports a Zacks Rank of 1. 
The Zacks Consensus Estimate for Canada Goose&#39;s fiscal 2025 earnings and sales indicates growth of 13.7% and 5.2%, respectively, from the year-ago actual. GOOS has a trailing four-quarter average earnings surprise of 70.9%.
<a href="https://www.zacks.com/stock/news/2297657/here-s-why-macy-s-m-stock-sees-sudden-rise-on-the-bourse?cid=CS-BENZ-FT-analyst_blog|rank_focused-2297657">To read this article on Zacks.com click here.</a>

GOOS

Here's Why Macy's Stock Sees Sudden Rise on the Bourse