Northern Lights Fund Trust IV Main International ETF (BATS: INTL)

Northern Lights Fund Trust IV Main International ETF (BATS:INTL), Top Holdings

Financial Services

Technology

Industrials

Consumer Cyclical

Basic Materials

Consumer Defensive

Other

Communication Services

Healthcare

Energy

Real Estate

Utilities

Fund invests in non-U.S. country and sector indexes. The portfolio utilizes a dynamic asset allocation approach which combines the benefits of both strategic and tactical allocation strategies.

Franklin FTSE Japan ETF

Franklin Ftse Mexico ETF

Ishares Msci France Etf

Franklin FTSE Taiwan ETF

FtETFt-Franklin Ftse South Korea ETF

Ishares Msci Germany ETF

Ishares Msci Sweden ETF

Franklin Ftse India ETF

Franklin Ftse China ETF

Franklin Ftse Brazil ETF

Main International ETF

Ethereum

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

Cryptocurrency

News

$ETH

AMZN

INTL

NVDA

Crypto venture capitalist Andrew Kang compared Ethereum (CRYPTO: ETH) to tech stocks and sees parallels betwee

Ethereum Is Not Like Nvidia, Amazon, But More Like Intel, Trader Says: &#39;Negative Revenue Growth And Negative Profitability&#39;

Etf,Exchange,Traded,Fund,Stock,Market,Trading,Investment,Financial,Concept.

Equities

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Specialty ETFs

New ETFs

Exclusives

Markets

Tech

Interview

ETFs

General

ARKK

Northern Lights Fund Trust IV Main BuyWrite ETF

BUYW

SECT

TMAT

ETFs are more transparent and tax efficient than mutual funds, Main Management exec tells Benzinga. 

EXCLUSIVE: ETFs Vs. Mutual Funds — Why Main Management&#39;s Darol Ryan Expects Further Conversions In 2024

artificial intelligence shutter2

Large Cap

Long Ideas

Mid Cap

Trading Ideas

CRWD

MSFT

PLTR

In 2024, AI will have to prove its worth, with investors seeking proof that billions spent on AI can make a return on investment. Microsoft, Palantir, and CrowdStrike are potential winners in 2024.

AI&#39;s 2024 Reality Check: Facing &#39;Peak AI Hype,&#39; It&#39;s Time To Prove Its Worth

Northern Lights Fund Trust IV Main International ETF

INTL BETHLEHEM MNG by International Bethlehem Mining Corp.

INTL BIOTECH TR PLC by International Biotechnology Trust Plc

INTL RANGER CORP by International Ranger Corp.

Crypto venture capitalist <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39449296/spot-ethereum-etfs-to-go-live-this-week-analyst-outlines-possibility-after-saying-no-reaso">Andrew Kang compared Ethereum</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) to tech stocks and sees parallels between the current price action and that of May 2021.
What Happened: He <a href="https://x.com/Rewkang/status/1805089561753825563">notes</a> that during both periods, the market was about 9-10 months into a bullish momentum but cautions that this does not mean the market is immune to extreme corrections over a multi-month time horizon.
Kang also <a href="https://x.com/Rewkang/status/1805219324753547515">expressed</a> skepticism about the ability of support levels and ranges to hold in the face of potential market disruptions, such as the selling of <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39457412/mt-gox-to-start-repaying-bitcoin-in-july-9b-in-sell-pressure-coming">Mt Gox</a> estate and ETF buyers selling. He singled out NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) as appearing to be at a local top and suggested that the only buyers currently seem to be leverage and short-term traders trying to catch a falling knife.
<figure class="wp-block-image size-full"><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" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39457901/ethereums-price-after-the-etfs-start-trading-between-2-400-and-3-000-says-crypto-vc-heres-">Ethereum&#8217;s Price After The ETFs Start Trading? Between $2,400 And $3,000, Says Crypto VC: Here&#8217;s Why</a>
Why It Matters: Kang draws a parallel between Ethereum and well-known tech companies, suggesting that ETH&#8217;s current valuation and growth prospects resemble past tech bubbles rather than the sustained growth seen by companies like NVIDIA and Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
He <a href="https://x.com/Rewkang/status/1804892122270847183">believes</a> that Ethereum's trajectory mirrors Intel's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTL#NASDAQ">INTL</a>), which once had unbounded growth expectations but eventually faced slower innovation and fierce competition. This dynamic leads to lower projected growth rates and, consequently, lower valuations.
Ethereum&#8217;s fundamentals currently do not support its high valuation. "Tell me how you pitch 200x PS, negative revenue growth, and negative profitability to investors at a $420 billion price," he challenges. Kang believes that while some crypto enthusiasts might buy into this narrative, it's unrealistic to assume TradFi investors will do the same given the present fundamentals.
Ethereum faces declining interest in NFTs, migration of on-chain trading to other networks, and falling network fees.
What&#8217;s Next: The influence of <a href="https://www.benzinga.com/money/is-ethereum-a-good-investment" target="_blank" rel="noreferrer noopener">Ethereum 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: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39449296/spot-ethereum-etfs-to-go-live-this-week-analyst-outlines-possibility-after-saying-no-reaso">Spot Ethereum ETFs To Go Live This Week? Analyst Outlines Possibility After Saying &#8216;No Reason For Delay&#8217; Earlier</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

Ethereum Is Not Like Nvidia, Amazon, But More Like Intel, Trader Says: 'Negative Revenue Growth And Negative Profitability'

During 2023 the trend for mutual funds converting into exchange traded funds grew, and this is expected to continue in 2024 as the popularity and ease of investment in ETFs <a href="https://www.benzinga.com/etfs">drives the market forward</a>.
Darol Ryan, managing partner at Main Management, said ETFs have taken over the mantle from mutual funds.
&#8220;ETFs are easier for both institutional investors and private investors to access. They are also more transparent and more tax efficient,&#8221; he said in an interview with Benzinga.
Main Management has four major investment offerings, all of which are ETFs-of-ETFs — where all holdings are composed of other exchange traded funds.
&#8220;We&#8217;re not focused on buying individual stocks,&#8221; said Ryan, &#8220;We&#8217;re buying geographical locations we like and sectors we like.&#8221;
<h2 class="wp-block-heading">Tracking The S&amp;P 500</h2>
Main&#8217;s most popular, and most liquid ETF, with total assets worth nearly $1.6 billion, is its Main Sector Rotation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SECT#NYSE">SECT</a>), which is its core U.S. strategy ETF, finding the best sectors in which to be invested.
While it doesn&#8217;t aim to emulate the S&amp;P 500, SECT&#8217;s recent performance has been impressively close. In 2023, SECT returned 20% compared with the S&amp;P 500&#8217;s 24%. So far in 2024, SECT is up 5% compared with the S&amp;P 500&#8217;s 6%.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/27120250/newplot-2024-02-27T160218.685.png" alt="" class="wp-image-230989" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/27120250/newplot-2024-02-27T160218.685.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/27120250/newplot-2024-02-27T160218.685-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a href="https://www.benzinga.com/etfs/sector-etfs/24/02/37322437/exclusive-roundhills-ai-magnificent-7-etfs-shine-in-tech-market-rally-draw-100m-inflow-in-1-mont">EXCLUSIVE: Roundhill&#8217;s AI, Magnificent 7 ETFs Shine In Tech Market Rally, Draw $100M Inflow In 1 Month</a>
SECT&#8217;s current biggest holdings reflect the sectors that have strongly outperformed in recent months — technology and health care — with exposure to the Invesco QQQ Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>), as well as the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>), both of which have performed better than the S&amp;P 500 since the start of 2023.
&#8220;We like health care,&#8221; said Ryan. &#8220;We have an overweight position there — not only in the major pharmaceuticals sector, but also the smaller biotechs.&#8221;
He adds that some of the smaller health care stocks have been undervalued during the last couple of years due to their exposure to higher interest rates that make borrowing more expensive and limit growth opportunities.
&#8220;But we believe that longer term, they will be winners. Interest rates will come down and the bigger guys may be buyers of some of these smaller companies.&#8221;
<h2 class="wp-block-heading">Thematic ETFs</h2>
Alongside SECT is the Main Thematic Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMAT#NYSE">TMAT</a>), a global mid-cap growth fund that holds many of the best-performing ETFs in sectors such as cloud and quantum computing, artificial intelligence and cryptocurrency companies. TMAT returned 32% in 2023.
Launched in December 2022, the Main International ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTL#NYSE">INTL</a>) is invested in country-specific ETFs such as Japan, Mexico and India, among with many others. Main had been running the strategy in a model for some time before launch, and in 2023 the INTL returned 15%.
Finally, the Main BuyWrite ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUYW#NYSE">BUYW</a>) aims to provide favorable risk-adjusted returns using covered call strategies. 
&#8220;We&#8217;ve been running&nbsp;the BuyWrite strategy&nbsp;a long time, but we&nbsp;previously&nbsp;had that in a mutual fund wrapper. We&#8217;ll see a lot of mutual funds launch into ETFs in the coming year,&#8221; said Ryan.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37330375/bill-ackman-says-most-mutual-funds-cant-fetch-you-good-returns-heres-what-he-recomm">Bill Ackman Says Most Mutual Funds Can&#8217;t Fetch You Good Returns: Here&#8217;s What He Recommends For Retail Investors</a>
Photo via Shutterstock.

EXCLUSIVE: ETFs Vs. Mutual Funds — Why Main Management's Darol Ryan Expects Further Conversions In 2024

Artificial Intelligence (AI) was one of the major themes of 2023, wowing investors with increasingly innovative use cases and capturing headlines with demonstrations of how it will become a disruptive force<a href="https://www.benzinga.com/topic/artificial-intelligence"> in global industry.</a>
In 2024, however, it&#8217;s likely the technology will have to start proving its worth on the bottom line as investors increasingly seek proof that the billions spent on AI development can make a return on investment.
Alex Zukin, tech analyst at Wolfe Research, wrote last month: &#8220;We are at peak AI hype with a likely slide into the trough of disillusionment, as actual GenAI revenue dollars take longer to materialize.&#8221;
Many of the top gainers of 2023 have strong links with AI: chipmakers, such as Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTL#NASDAQ">INTL</a>) increasingly focused on the next generation of semiconductors that will provide the processing power for new generative AI (GenAI) models.
Indeed, Nvidia, with an outstanding annual gain of more than 220%, was the best performing stock on the S&amp;P 500 in 2023, while rivals AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Intel came in with annual gains of 115% and 73% respectively.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/03113828/newplot-16.jpeg" alt="" class="wp-image-173452" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/03113828/newplot-16.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/03113828/newplot-16-300x300.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/03113828/newplot-16-150x150.jpeg 150w" sizes="(max-width: 650px) 100vw, 650px" /></figure>
Also Read: <a href="https://www.benzinga.com/24/01/36469889/a-glitch-in-the-rally-cruise-operators-and-chip-stocks-targeted-in-profit-taking">A Glitch In The Rally? Cruise Operators And Chip Stocks Targeted In Profit Taking</a>
<h2 class="wp-block-heading">Is A Repeat Performance In 2024 Likely?</h2>
Can they keep up these performances in 2024? So far, all three are down during the first two trading sessions of 2024. It&#8217;s highly probable that this is little more than <a href="https://www.benzinga.com/24/01/36469889/a-glitch-in-the-rally-cruise-operators-and-chip-stocks-targeted-in-profit-taking">profit taking</a> after such a mighty run, but the correction could have further to go.
Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has invested a whopping $13 billion in OpenAI, will be expecting the headlines in 2023 to be about how well its AI partner is contributing to its bottom line, rather than the antics of the OpenAI board and its founder Sam Altman — as was the case in 2023.
In its last quarterly earnings review, Microsoft CFO Amy Hood, said: &#8220;We are really focused on making sure that every dollar we commit is back to the priorities we talked about, which is commercial cloud leadership and leading the AI wave.&#8221;
Shares in Microsoft gained 56% in 2023, but have lost 1.1% in the past two trading sessions.
Keith Noonan, <a href="https://www.nasdaq.com/articles/the-7-best-artificial-intelligence-ai-stocks-to-buy-for-2024-and-beyond">writing </a>for the Motley Fool, believes that Nvidia and Microsoft remain among the best AI stocks to buy for 2024.
&#8220;While some smaller companies will undoubtedly emerge as winners, the competitive advantages granted by infrastructure and data strengths suggest the AI race will continue to favor large players,&#8221; he said.
<h2 class="wp-block-heading">Palantir And CrowdStrike</h2>
Other potential winners in 2024 may have to display a proven track record. 
Outside the mega-cap stocks stands Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) which, during November and December when all other stocks were soaring, tumbled following a badly-received contract with Britain&#8217;s National Health Service.
Despite this, its shares were up nearly 150% during 2023, and analysts believe it remains undervalued at $16 compared with its 2020 peak at nearly $40. 
The company boasts many high-ranking government contracts and launched its Artificial Intelligence Platform last May. By November, the platform had attracted around 300 organizations as customers.
One of the most cited use cases for AI has been in the field of cybersecurity. Among the leaders here, and already using the technology to combat cybercrime, is CrowdStrike (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>). Its shares have also enjoyed a stellar 2023 with gains of 134%.
Whether they can resume their rally in the next few weeks will largely depend on the quality of earnings they report over the coming quarters.
Now Read: <a href="https://www.benzinga.com/general/entertainment/24/01/36456513/new-year-resolution-stocks-can-getting-fitter-be-a-winner-on-the-stock-market">New Year Resolution Stocks: Can Getting Fitter Be A Winner On The Stock Market?</a>
Photo: Shutterstock

AI's 2024 Reality Check: Facing 'Peak AI Hype,' It's Time To Prove Its Worth

After the stunning rally that ended 2023, investors <a href="https://www.benzinga.com/news/earnings/24/01/36466738/us-stocks-set-to-open-weaker-as-traders-eye-key-main-street-events-analyst-sees-buying-opportunity-">started 2024 with sobering losses</a> that appeared to reflect the <a href="https://www.benzinga.com/news/24/01/36458551/hamas-deputy-leader-killed-in-suspected-israeli-drone-strike-in-beirut-oil-prices-fall">darkening geopolitical outlook</a>.
There were some heavy losses across Asia on Tuesday — particularly in China, where weak home sales data undermined the property sector. In the U.S., the mega-cap Dow Jones Industrial Average eked out narrow gains, but both the S&amp;P 500 and NASDAQ indexes lost ground.
The SDPR S&amp;P 500 Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the exchange traded fund that tracks the S&amp;P 500 fell 0.6% on Tuesday and the Invesco QQQ Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>) which tracks tech stocks on the NASDAQ 100 fell 1.7%. Premarket trading on both ETFs indicated opening losses on Wednesday.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/03090258/newplot-13-1.jpeg" alt="" class="wp-image-173318" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/03090258/newplot-13-1.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/03090258/newplot-13-1-300x300.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/03090258/newplot-13-1-150x150.jpeg 150w" sizes="(max-width: 650px) 100vw, 650px" /></figure>
Also Read: <a href="https://www.benzinga.com/news/24/01/36458551/hamas-deputy-leader-killed-in-suspected-israeli-drone-strike-in-beirut-oil-prices-fall">Hamas Deputy Leader Killed In Suspected Israeli Drone Strike In Beirut: Oil Prices Fall</a>
<h2 class="wp-block-heading">Geopolitical Gloom Deepens</h2>
The news from the Middle East and Red Sea were certainly sobering. Maersk (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AMKBY#OTC">AMKBY</a>), the shipping company which last week had decided to resume routes through the Red Sea, suffered another attack by Houthi rebels. U.S. warships engaged with enemy vessels, while Iran sent a cruiser to the region.
It was later reported that Israel<a href="https://www.benzinga.com/news/24/01/36458551/hamas-deputy-leader-killed-in-suspected-israeli-drone-strike-in-beirut-oil-prices-fall"> had killed the deputy leader of Hamas</a> in a drone strike on a building in Beirut, the capital of Lebanon.
This incident, being Israel&#8217;s first incursion outside of Gaza in this conflict, raises concerns about the potential involvement of Lebanese Hezbollah militants and their allies, including Iran and Syria, further intensifying regional tensions.
Yet the market action didn&#8217;t feel like a reaction to geopolitical events. Gold prices fell, as the tradition safe haven asset did not attract spooked buyers. The iShares Gold Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) fell 0.2%.
&#8220;Geopolitical tensions remain high but do not seem to be having a direct market influence as both gold and oil are trading lower,&#8221; said Marc Chandler at Bannockburn Global.
<h2 class="wp-block-heading">Equity Losers In Sell-Off</h2>
Looking at the losers on the S&amp;P 500 — including the Magnificent Seven stocks, which all lost between 1% and 5% — and it was a list of the best performers of 2023.
&#8220;I wouldn&#8217;t have been surprised to see profit taking — you&#8217;ve got a lot of portfolio managers who underperformed their index, so they&#8217;re re-orientating their portfolios towards a less hawkish Fed — they need to allocate towards stocks,&#8221; said Tom Lee at Fundstrat, in an interview on CNBC on Tuesday.
The largest downturns on the S&amp;P 500 on Tuesday were seen in the three cruise line operators: Norwegian Cruise Line Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) fell 8.6%, Royal Caribbean Cruises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) lost 7.2% and Carnival Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) shed 6.7%.
During 2023, only three stocks — including Mag7 giants Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) up 227%, and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) up 172% — outperformed Royal Caribbean, which gained 128% over the year. Carnival wasn&#8217;t far behind with an annual gain of 98%, while NCLH rose by 47%.
Another big story of 2023 — the growth of artificial intelligence — drove semiconductor stocks to cyclical highs, and many of these stocks were among Tuesday&#8217;s big losers.
AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) fell 6%, Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTL#NASDAQ">INTL</a>) shed 4.9% and Applied Materials (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) lost 4.8%.
<h2 class="wp-block-heading">What To Expect Ahead In 2024</h2>
Premarket trading on Wednesday indicated the likelihood of further equity losses — particularly in the stocks mentioned above. 
But the selling has not been broad based. There were plenty of gainers, particularly in the pharmaceuticals, healthcare and financial sectors.
Capex has risen during 2023, indicating companies feel confident about their earnings growth in 2024 — and earnings will be the ultimate driver, along with Federal Reserve policy, as the year advances.
Thus, the fourth-quarter 2023 earnings season, which kicks off in a few weeks, will be key for investment decision-making as companies provide further details on their outlooks for the coming year.
Now Read: <a href="https://www.benzinga.com/general/entertainment/24/01/36456513/new-year-resolution-stocks-can-getting-fitter-be-a-winner-on-the-stock-market">New Year Resolution Stocks: Can Getting Fitter Be A Winner On The Stock Market?</a>
Photo: Shutterstock

AMAT

AMKBY

NCLH

A Glitch In The Rally? Cruise Operators And Chip Stocks Targeted In Profit Taking

The sublime performances of Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) stood out on the S&amp;P 500 index as the best two <a href="https://www.benzinga.com/markets/equities/23/12/36339633/zuckerbergs-year-of-efficiency-drives-meta-stock-to-best-year-ever-with-eye-popping-190-surge-wh">equity gains of 2023</a>. 
The comeback of Big Tech was celebrated with a new name for the top stocks: <a href="https://www.benzinga.com/news/23/12/36333059/if-youre-selling-the-magnificent-7-following-outperformance-in-2023-you-could-face-this-nightmare-sc">The Magnificent Seven</a>.
These so-called Mag7 stocks are:
<ul>
<li>Nvidia, which gained nearly 240% in 2023</li>
<li>Meta, up nearly 200%</li>
<li>Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), with gains of 112%</li>
<li>Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTL#NASDAQ">INTL</a>), which added 90%</li>
<li>Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), which gained 83%</li>
<li>Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) up 60% </li>
<li>and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which climbed 56%.</li>
</ul>
Mag7 gains in 2023 were responsible for a third of the total performance on the S&amp;P 500 index, and on the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the exchange-traded fund that tracks the index. Both entities gained 25% during 2023.
But too much has already been written about these undoubted champions and, as the year closes, we&#8217;d like to celebrate some of the performances that outshone even Nvidia&#8217;s. But we&#8217;ll have to move outside the large caps and into the realm of the small caps where if you were savvy — or lucky — you might&#8217;ve bagged gains over 1000%.
<h2 class="wp-block-heading">Three 1,000% Winners And Crypto Gainers</h2>
Soleno Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNO#NASDAQ">SLNO</a>), with a market cap of just $1.2 billion, is a relative minnow. But thanks to its discovery of a treatment for the rare genetic disorder Prader-Willi Syndrome its shares rocketed in September, leaving the company with an annual gain of 1908%.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28131350/newplot-7-1.jpeg" alt="" class="wp-image-170705" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28131350/newplot-7-1.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28131350/newplot-7-1-300x300.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/28131350/newplot-7-1-150x150.jpeg 150w" sizes="(max-width: 650px) 100vw, 650px" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/equities/23/12/36325391/magnificent-7-widens-gap-with-rest-of-s-p-500-but-that-may-change-in-2024">&#8216;Magnificent 7&#8217; Widens Gap With Rest Of S&amp;P 500, But That May Change In 2024</a>
Carvana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares, meanwhile, started the year at $4.74 and, as it negotiated its continued existence with <a href="https://www.benzinga.com/news/earnings/23/07/33281967/carvana-shoots-higher-after-q2-earnings-heres-why">financial backers</a>, buying itself more time, the shares jumped a remarkable 1079% taking the $11 billion market-cap car dealer to $55.89.
Further down the market-cap tree, Applied Optoelectronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) gained 1064%, making it the best performer this year on the NASDAQ Composite index after increasingly positive results drove several analyst upgrades. The IT services company&#8217;s strong links to artificial intelligence data processing was a major driver of its performance.
Several stocks with direct exposure to the fourth-quarter rally in cryptocurrencies were also strong performers over the year. These included Bitcoin miners Bit Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>), up 725% and Bitfarms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BITF#NASDAQ">BITF</a>), which gained 670%.
<h2 class="wp-block-heading">Outperforming ETFs</h2>
Thanks to the performance of cryptocurrencies, the Grayscale Bitcoin Cash Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCHC#NYSE">BCHC</a>), an exchange-traded product that tracks the price of Bitcoin Cash, was the best-performing non-equity ETF, with an annual gain of 1178%, massively outperforming the price movement of Bitcoin Cash, which only managed a rally of 177%.
Not surprisingly, given the performances of the Mag7 stocks, exchange-traded funds that tracked growth stocks were the best equity ETF performers. They all managed to outperform the NASDAQ Composite&#8217;s 44.5% but were only able to broadly match the outstanding 54% seen on the slimmer NASDAQ 100 index.
The best performing was the Baron Fifth Avenue Growth Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFTIX#NYSE">BFTIX</a>), which gained nearly 60% over the year, while the Fidelity Blue Chip Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBCG#NYSE">FBCG</a>), which climbed 59%. Both ETFs contain the Mag7 stocks.
Now Read: <a href="https://www.benzinga.com/markets/equities/23/12/36414001/cant-buy-into-spacex-heres-how-to-get-a-piece-of-the-rocket-launch-action">Can&#8217;t Buy Into SpaceX? Here&#8217;s How to Get A Piece Of The Rocket Launch Action</a>
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Forget The Magnificent 7: Did Anyone Back These 1,000% Gainers In 2023?

Markets are poised for what, perhaps, could be the crunch moment in 2023. Will equities be given the green light to rally into 2024, pushing the U.S. dollar lower? Will it be pivot or pushback from the Federal Reserve at its <a href="https://www.benzinga.com/markets/equities/23/12/36215033/feds-2023-policy-twists-the-turning-points-and-markets-reactions">final policy meeting of 2023</a>.
The Pivot: This is the scenario in which the Fed says it believes it has done enough on interest rates increases with inflation back under control and changes its stance from mildly hawkish, to mildly dovish — thus cementing market expectations that rate cuts could come early in 2024.
Equity markets would likely rally, as they have all year on signs the Fed was coming towards the end of its rate-hike cycle. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) mirrored the index it tracks all year and, like the S&amp;P 500 has rallied 21% in 2023. The Invesco QQQ Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>) an ETF which tracks the NASDAQ has done even better, up 50%.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/13121643/newplot-11.png" alt="" class="wp-image-160726" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/13121643/newplot-11.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/13121643/newplot-11-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The Pushback: In this scenario, the Fed keeps rates on hold at the current 5.25%-5.5%, but remains mildly hawkish, saying it prefers to wait for further economic data to confirm that inflation is under control, which would essentially re-affirm the Fed&#8217;s earlier &#8220;higher-for-longer&#8221; stance.
Such a scenario would be positive for dollar bulls. The dollar index, which measures the currency&#8217;s performance compared to a basket of its rivals, has fallen nearly 3% since October.
Also Read: <a href="https://www.benzinga.com/markets/equities/23/12/36215033/feds-2023-policy-twists-the-turning-points-and-markets-reactions">Fed&#8217;s 2023 Policy Twists: The Turning Points And Markets Reactions</a>
<h2 class="wp-block-heading">Analysts Beginning To Suspect Pushback</h2>
Some analysts are suggesting the latter scenario is now the most likely and that markets have gotten ahead of themselves on rate cut expectations. They say that the Fed will push back to let the markets know that they don&#8217;t dictate Fed policy.
&#8220;Chair Powell will be asked at the press conference if he is prepared to say that the Fed is now done, and whether the Fed discussed a potential timetable for beginning to cut rates. He likely will push back on both questions,&#8221; said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
James Knightley, analyst at ING, also suspects equity markets will be disappointed: "The bigger story is likely to be contained in the individual Fed member forecasts — how far will they look to back the market perceptions that major rate cuts are on their way?
He added: &#8220;We strongly suspect there will be a lot of pushback here.&#8221;
And while the usual suspects among the Fed doves have been hinting more towards the pivot scenario — here&#8217;s what chairman Powell had to say in a speech on Dec. 1:
&#8220;It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance or to speculate on when policy might ease. We are prepared to tighten policy further if it becomes appropriate to do so.&#8221;
&#8220;We expect similar remarks today,&#8221; concluded Shepherdson.
<h2 class="wp-block-heading">How Might Markets React</h2>
Pivot: Equity markets continue their rally into the New Year, likely driven by the tech names that provided much of the weight in the rally so far this year:
Chipmakers — the semiconductor providers to the tech giants such as Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) — include: Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) is up 112% in 2023 Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) is up 95% Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) is up 66% Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) beats them all with a massive 230% gain
Pushback: Equity market rally falters as investors take profits from some of the biggest gainers over 2023. Dollar rallies as institutional investors shift their portfolio weightings back to lower-risk Treasuries.
The Invesco DB US Dollar Index Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), which is down by around 2% in 2023, would likely get a lift into 2024.
So — we wait and see. Not long now.
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Fed Pivot Or Pushback? Markets Poised For Tense Policy Finale To 2023

On CNBC&rsquo;s &quot;Mad Money Lightning Round,&quot; Jim Cramer said Grab Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grab#NASDAQ">GRAB</a>) is losing too much money. &quot;We&rsquo;re going to take a <a href="https://www.benzinga.com/news/23/11/35729175/grabs-strong-quarter-and-market-position-suggests-it-is-core-emerging-market-investment-analyst"> hard pass on Grab,&quot; he added. </a>
When asked about BILL Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bill#NYSE">BILL</a>), he said, &quot;I think the service is overpriced versus what you can get from others. And I just think that therefore it&rsquo;s not one that I would want to recommend.&quot;
Cramer said people just consider Academy Sports and Outdoors, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aso#NASDAQ">ASO</a>) as a gun stock. &quot;I mean, no matter what they do. But I&rsquo;m going to agree with you that the stock is just too low. I can&rsquo;t recommend selling a stock at six times earnings,&quot; he added.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
&quot;I want to see the quarter, because as I said, it is a wait and see situation,&quot; Cramer said when asked about Ford Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>).
Intel Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intl#NASDAQ">INTL</a>) is doing &quot;incredibly well, so I&rsquo;m not going to tell you to sell that one,&quot; Cramer said.
When asked about Ready Capital Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rc#NYSE">RC</a>), he said, &quot;I can&rsquo;t tell what&rsquo;s really in it, so I am therefore going to say I cannot recommend the stock.&quot;
Price Action: Shares of Ready Capital fell 1.1% to close at $9.96, while Intel fell 2.5% to $43.64 on Tuesday. Ford fell 1.5% to $10.19, while Academy Sports and Outdoors rose 0.04% to $48.19 during Tuesday&rsquo;s session. BILL Holdings declined 2.7% to $62.85, while Grab Holdings shares fell 3.1% to settle at $3.13 on Tuesday.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/11/35893356/8-7m-bet-on-mercury-systems-check-out-these-4-stocks-insiders-are-buying"> $8.7M Bet On Mercury Systems? Check Out These 4 Stocks Insiders Are Buying </a> 
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Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29229693/joe-biden-talks-tough-on-saudi-arabia-says-theres-going-to-be-some-consequences-for-what-theyve-done" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Joe Biden Says Saudi Arabia Will Face&#39; Consequences For What They&#39;ve Done With Russia&#39;</a>
<ul>
<li>President Joe Biden has reportedly said there would be &quot;consequences&quot; for Saudi Arabia for collaborating with Russia to trim oil production, indicating that cracks have appeared in the relationship between the two long-time allies.</li>
<li>In an interview broadcast on Tuesday night, Biden told CNN&#39;s Jake Tapper, &quot;there&#39;s going to be some consequences for what they&#39;ve done with Russia.&quot;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29230197/apple-samsung-smartphone-users-could-access-5g-by-december-via-software-upgrade" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple, Samsung Smartphone Users Could Access 5G By December Via Software Upgrade</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) and Samsung Electronics Co Ltd (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ssnlf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SSNLF</a>) agreed to upgrade software for their 5G-enabled phones in India by December following a government push.</li>
<li>Apple looks to push software upgrades to recent models, including the iPhone 14, 13, 12, and iPhone SE, which do not yet support the network.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29230366/toyota-motor-opens-myanmar-plant-after-coup-induced-pause-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toyota Opens Myanmar Plant After Coup-Induced Pause</a>
<ul>
<li>Toyota Motor Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TM</a>) has started operations at a new plant in Myanmar after a hiatus following the military coup.</li>
<li>The Myanmar plant operations were paused for over nineteen months due to the coup and the coronavirus pandemic.</li>
<li>The automaker has started to assemble one to two Hilux trucks per day.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29232360/toshiba-picked-japan-industrial-partners-led-group-as-preferred-bidder" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Picked Japan Industrial Partners Led Group As Preferred Bidder</a>
<ul>
<li>Toshiba Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) granted a Japan Industrial Partners Inc led consortium preferred bidder status for its buyout.</li>
<li>Private equity firm JIP looked to acquire Toshiba in partnership with multiple domestic companies, including Orix Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ix#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">IX</a>) and Chubu Electric Power (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/chuef#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CHUEF</a>).</li>
<li>Toshiba considered that a sale to JIP would keep the company as one entity.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29229398/intel-eyeing-big-job-cuts-as-early-as-this-month-to-navigate-through-tough-pc-market-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Intel Eyes Massive Job Cuts As Early As This Month To Sail Through PC Market Slump</a>
<ul>
<li>The PC slowdown is beginning to bite chipmakers. Intel Corporation (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/intl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">INTL</a>) is reportedly eyeing massive job cuts to tide over the current malaise.</li>
<li>Intel plans to announce a major headcount reduction, running into thousands, as early as this month. </li>
<li>The announcement could come around the release of the chipmaker&#39;s third-quarter results on Oct. 27. Divisions, including sales and marketing, will likely see about 20% of the jobs being eliminated.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29231734/coal-miners-peabody-coronado-explore-merger-to-boost-production" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Coal Miners Peabody, Coronado Explore Merger To Boost Production</a>
<ul>
<li>Coronado Global Resources Inc (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/codql#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CODQL</a>) <a class="editor-rtfLink" href="https://clients3.weblink.com.au/pdf/CRN/02581080.pdf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">confirmed </a>merger discussions with Peabody Energy Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/btu#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BTU</a>).</li>
<li>The merger could lead to a new global giant worth some $6 billion, depicting how the coal-price surge that followed Russia&#39;s invasion of Ukraine is transforming the sector&#39;s fortunes.</li>
<li>A tie-up with Coronado would boost Peabody&#39;s production of metallurgical coal.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29231287/us-judge-refuses-to-block-booz-allen-hamiltons-acquisition-of-rival-cybersecurity-company" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Judge Refuses To Block Booz Allen Hamilton&#39;s Acquisition Of Rival Cybersecurity Company</a>
<ul>
<li>A federal judge in Maryland declined to halt Booz Allen Hamilton Holding Corp&#39;s (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bah#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BAH</a>) acquisition of a competing cybersecurity company EverWatch, scoring a victory against the Department of Justice.</li>
<li>Booz Allen in March moved to acquire EverWatch, a company it had been competing against to win a five-year contract to support the National Security Agency&#39;s mission of collecting foreign communications.</li>
<li>The DOJ prosecuted in June, alleging that the acquisition would drive up prices for the U.S. government and create a monopoly supplier for critical national-security services.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29232080/nike-lays-out-plan-to-prevent-bot-purchases-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nike Lays Out Plan To Prevent Bot Purchases</a>
<ul>
<li>Nike Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nke#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NKE</a>) plans to cancel orders placed with automated ordering software or technology on its website or apps.</li>
<li>The sneaker maker intends to charge restocking fees, reject refunds, or suspend accounts if it determines the purchase is made for resale.</li>
<li>Also, orders exceeding purchase limits are likely to be rejected.</li>
</ul>

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29232788/us-health-official-says-updated-covid-19-boosters-should-offer-protection-amid-tracking-emerging-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Health Official Says Updated COVID-19 Boosters Should Offer Protection Amid Tracking Emerging Variants</a>
<ul>
<li>The U.S. health officials are tracking several coronavirus omicron subvariants that more easily evade immunity, rendering many treatments ineffective.</li>
<li>But the new booster shots should provide protection, said Dr. Ashish Jha, head of the White House Covid task force.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/22/10/29229800/after-metas-connect-2022-analyst-says-metaverse-vision-remains-distant-so-this-take" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Meta Analyst Says Quest Pro Uptake Likely To Be Slow Due to These 2 Reasons</a>
<ul>
<li>Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) held its Meta Connect 2022 on Tuesday, showing off its metaverse product slate, announcing additional partnerships, and releasing its next-gen Quest Pro headset.</li>
<li>Following the event, KeyBanc Capital Markets analyst Justin Patterson maintained an Overweight rating and a $196 price target for Meta shares.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/10/29231905/cameco-brookfield-renewable-come-together-to-buy-one-of-largest-nuclear-services-businesses" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Cameco, Brookfield Renewable Come Together To Buy One Of the Largest Nuclear Services Businesses</a>
<ul>
<li>A consortium of Cameco Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ccj#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CCJ</a>) and Brookfield Renewable Partners LP (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bep#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BEP</a>), together with its institutional partners, has <a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/10/b29227426/cameco-and-brookfield-renewable-form-strategic-partnership-to-acquire-westinghouse-electric-compan" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">agreed to acquire</a> Westinghouse Electric Company from Brookfield Business Partners LP (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bbu#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BBU</a>).</li>
<li>Brookfield Renewable will own a 51% stake in Westinghouse, and Cameco will own 49%.</li>
<li>The total enterprise <a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/1009001/000119312522260824/d576470dex992.htm" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">value</a> of Westinghouse is $7.875 billion. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29230975/philips-warns-weaker-quarterly-sales-profit-hit-by-sleep-device-write-down" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Philips Warns Weaker Quarterly Sales, Profit Hit By Sleep Device Write-down</a>
<ul>
<li>Koninklijke Philips NV (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/phg#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PHG</a>) said it expects third-quarter group sales to <a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/10/tr29229359/philips-provides-update-on-its-financial-performance-in-q3-2022" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">be approximately &euro;4.3 billion</a> with a comparable sales decline of approximately 5%.</li>
<li>Due to the lower sales, Group Adjusted EBITA for the quarter is expected to be around &euro;210 million or around 5% of sales.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29231278/pepsico-posts-q3-earnings-above-street-view-raises-guidance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PepsiCo Boosts Annual Guidance Following Solid Q3 Beat</a>
<ul>
<li>PepsiCo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) reported third-quarter FY22 sales growth of 8.8% year-on-year to $21.97 billion, beating the consensus of $20.81 billion.</li>
<li>The gross profit increased 8% Y/Y to $11.7 billion, and the profit margin fell 40 basis points Y/Y to 53.1%.</li>
<li>The operating margin contracted 30 basis points to 15.3%, and operating income for the quarter climbed 6.1% to $3.4 billion.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29230275/mercedes-benz-partners-with-microsoft-to-enhance-car-production-efficiency" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mercedes-Benz Connects Passenger Car Plants To Microsoft Cloud - What&#39;s The Benefit?</a>
<ul>
<li>Mercedes Benz Group ADR (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/mbgyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MBGYY</a>) has partnered with Microsoft Corp (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/msft#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MSFT</a>) for efficient, resilient, and sustainable vehicle production.</li>
<li>Through the MO360 Data Platform, Mercedes-Benz will connect its 30-passenger car plants worldwide to the Microsoft Cloud.</li>
<li>The move is expected to enhance transparency and predictability across the luxury car maker&#39;s digital production and supply chain.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29232543/general-motors-invests-69m-in-australian-mining-company" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GM Invests $69M In Australian Mining Company - What&#39;s The Benefit?</a>
<ul>
<li>General Motors Co (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/gm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GM</a>) has invested in Queensland Pacific Metals of Australia to secure a new source of nickel and cobalt for Ultium battery cells.</li>
<li>As part of the agreement, GM is expected to invest up to $69 million in Queensland Pacific Metals to develop its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia.</li>
<li>The TECH Project is expected to begin construction in 2023.</li>
</ul>

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Joe Biden Vows Consequences Against Saudi Arabia, Philips Warns Lower Sales & Profit, Intel Explores Substantial Job Cuts: Top Stories Wednesday, Oct. 12

Nvidia Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) opened slightly lower on Wednesday but began to move higher intraday. The move is continues&nbsp;a bullish trading session on Tuesday that saw the chip-maker rally over 5%.
Although the global semiconductor shortage, which brought many chip makers to all-time highs last year, is far from over, Nvidia and other companies like&nbsp;Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>)&nbsp;that manufacture&nbsp;chips through third-parties&nbsp;aren&rsquo;t set to benefit from the <a href="https://www.benzinga.com/general/politics/22/07/28102790/why-the-chips-act-is-good-news-for-intel-bad-news-for-nvidia-advanced-micro-devices">CHIPS Act</a>, which passed its first hurdle on Tuesday.
While Nvidia and AMD design chips in-house, they rely on foreign companies to produce the technology, such as Taiwan Semiconductor Mfg. Co. Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>). The CHIPS Act, which is intended to benefit domestic semiconductor manufacturers by providing them with benefits such as tax incentives, heavily favors companies such as Intel Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) but could eventually force companies like Nvidia to find ways to bring manufacturing operations to the U.S.
Despite the news, Nvidia was behaving more bullish than Intel on Wednesday, as the former continued north in its uptrend. For comparison, Nvidia is up 23% over the last 12 trading days, while Intel has risen 12% over the same time period.&nbsp;
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here</a> for a free trial.
The Nvidia Chart: Nvidia reversed course into an uptrend on July 5 after bouncing up off the $140.55 mark. The most recent higher high within the trend was printed on July 8 and $160.37 and the most recent higher low was formed at the $144.65 level on July 13. On Wednesday, Nvidia was charging higher and not showing any signals its next higher high may be in.
<ul>
<li>For technical traders, the move higher was the most likely scenario because on Tuesday Nvidia printed a bullish candlestick and closed near its high-of-day. If Nvidia closes Wednesday&rsquo;s session at the high-of-day, higher prices are likely to come again on Thursday, although an eventual pullback, at least to form another higher low, will be necessary.</li>
<li>As the stock moves higher, Nvidia may find resistance at the top descending trendline of a falling channel, which the stock started trading in on May 4. If that happens, Nvidia may need to consolidate for a period of time under the trendline before possibly breaking up above it, which could signal a larger reversal to the upside.</li>
<li>Bears will want to see Nvidia reject the upper trendline and then for big bearish volume to come in and push the stock back down below the eight-day and 21-day exponential moving averages, which could indicate a longer bearish period is on the horizon.</li>
<li>Nvidia has resistance above at $180.73 and $187.80 and support below at $161.37 and $145.75.</li>
</ul>
<img alt="nvda_july_20_0.png" src="https://www.benzinga.com/files/u278075/nvda_july_20_0.png" style="height:427px; width:760px" />See Also:&nbsp;<a href="https://www.benzinga.com/government/22/07/28104376/the-pelosi-family-cannot-stop-stock-market-plundering-the-latest-on-paul-pelosis-conveniently-timed">Pelosi Family Making Millions In The Market: The Latest On Paul Pelosi&#39;s Timely Trades</a>
Photo courtesy of Nvidia.&nbsp;

Short Ideas

Technicals

Nvidia Stock Shows Strength Despite CHIP Act Favoring Intel: What To Watch

Sunday marks the last chance for investors to receive the next dividend payout from Intl Flavors &amp; Fragrances. 
<h3>What's Happening</h3>
(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTL#NYSE">INTL</a>, Fragrances)) announced on Wednesday that it would pay shareholders a quarterly dividend of $0.79 per share. On Monday, Intl Flavors &amp; Fragrances will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open $0.79 lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own IFF as of the end of Sunday's session are eligible to receive the $0.79 dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on January 07, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/stock//dividends">Click here</a> to find details on Intl Flavors &amp; Fragrances's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Dividends

Sunday Is Your Last Chance To Buy Intl Flavors & Fragrances Before The Dividend Payout

On Aug. 23 Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) broke up from a bull flag pattern called out by <a href="https://www.benzinga.com/trading-ideas/long-ideas/21/08/22564035/amd-stock-pulls-back-into-bullish-pattern-options-traders-bet-on-bull-run">Benzinga</a> on Aug. 18. A number of options traders must have seen the move coming: on Aug. 23, the traders bet over $1.6 million AMD&rsquo;s stock would rise.
On Wednesday, it was <a href="https://www.benzinga.com/news/21/08/22650217/intels-delay-is-proving-to-be-nvidia-amds-gain">reported</a> the U.S. Department of Energy was nearing a deal worth $500 million to purchase a supercomputer made with AMD and NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) chips.
The government initially planned to use chips made by Intel Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intl#NASDAQ">INTL</a>), but Intel is experiencing a production delay.
The AMD Chart: After breaking from the larger bull flag created between July 28 and Aug. 22, AMD shot up almost 4%. The stock has since consolidated the move by trading sideways. The rise up between Monday and Tuesday paired with the consolidation on Wednesday and Thursday and has settled AMD&rsquo;s stock into another smaller bull flag pattern.
On Thursday, AMD was printing a long-legged doji <a href="https://www.benzinga.com/money/how-to-read-candlestick-charts/">candlestick</a> on the daily chart, which indicates every time the stock traded down toward $106.84 level, bulls came in and bought the dip. The long-legged doji candlestick could&nbsp;indicate the bottom is in and that&nbsp;AMD may trade higher on Friday.
AMD is trading above the eight-day and 21-day exponential moving averages (EMAs), with the eight-day EMA trending above the 21-day, both of which are bullish indicators.
AMD is also trading about 22% above the 200-day simple moving average, which indicates overall sentiment in the stock is bullish.
<ul>
<li>Bulls want to see big bullish volume come in and break AMD up from the bull flag pattern. The stock has resistance at above at the $111 level, and after that there is no further resistance until AMD&rsquo;s all-time high of $122.49.</li>
<li>Bears want to see big bearish volume come in and drop AMD below support of the eight-day EMA, which would negate the bull flag. If the bull flag is negated, AMD could drop toward&nbsp;a lower support at the $103.83 level. Below the level, there is further support at $99.23.</li>
</ul>
<img alt="amd_aug._26.png" src="https://www.benzinga.com/files/u278075/amd_aug._26.png" style="height:422px; width:750px" />

Options

AMD Stock Settles Into Second Bullish Pattern: Will History Repeat?

Taiwan Semiconductor Manufacturing Co Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>) expects to meet the minimum semiconductor chip requirement of its clients before the end of June, the company&rsquo;s CEO Mark Liu <a href="https://www.cbsnews.com/news/semiconductor-chip-shortage-60-minutes-2021-05-02/" style="text-decoration:none">told</a> CBS News on Sunday.&nbsp;
What Happened: The Taiwan-based company, a key chip supplier for U.S. automakers and also Apple Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>), last year could not cope with the sudden unexpected pullback in demand as the economy reopened but believes it can finally meet its clients&#39; minimum inventory requirement in two months.
TSMC had last month, in an earnings call, said that its automotive customers can expect chip shortages to start easing next quarter but the shortages will still continue to last throughout 2021 and potentially into next year too.
Liu clarified that his latest comments shouldn&#39;t be interpreted to mean that the chip shortage could end by June. &quot;There&#39;s a time lag,&quot; the TSMC CEO said in the interview with CBS&#39;s 60 Minutes.&nbsp;&quot;In car chips particularly, the supply chain is long and complex. The supply takes about seven to eight months.&quot;
See Also: <a href="https://www.benzinga.com/news/earnings/21/04/20634653/apple-supplier-tsmcs-q1-profit-jumps-19-amid-chip-shortage" style="text-decoration:none">Apple Supplier TSMC&#39;s Q1 Profit Jumps 19% Amid Chip Shortage</a>
Why It Matters:&nbsp;Automakers, smartphone and appliance makers across the world have been scrambling to secure chip supplies amid a raging shortage that has forced them to halt or delay some of their production.
Hon Hai Precision Industry Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hnhpf#OTC">HNHPF</a>), another key Taiwan-based supplier &mdash; popularly known as Foxconn, in March said chip shortage <a href="http://www.benzinga.com/news/21/03/20403631/apple-supplier-foxconn-chip-supply-shortage-will-hurt-shipments-last-through-2022">will hurt 10% of its shipment</a> and last through 2022.
Intel Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intl#NASDAQ">INTL</a>) CEO Pat Gelsinger, too, has warned <a href="http://www.benzinga.com/news/21/04/20761976/intel-ceo-expects-global-chip-shortage-to-last-another-two-years">the global semiconductor chip</a> supply shortage could stretch two more years as the ecosystem makes significant investments to finally address the crunch.
Amid the shortage, Intel has pledged to revive the semiconductor giant with a <a href="https://www.benzinga.com/news/earnings/21/04/20751953/intels-20b-capex-plans-could-affect-q1-results-wsj" style="text-decoration:none">$20 billion plan</a> to spend on new factories.
Price Action:&nbsp;Intel shares closed 1.29% lower at $57.53 on Friday. Apple shares closed 1.51% lower at $131.46.
Photo by <a href="https://www.flickr.com/photos/iphonedigital/23477773262">iphonedigital</a> on Flickr

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Apple Supplier TSMC Expects To Catch Up With Customers' Chip Demand By June

INTL FCStone Reports Will Rebrand Co. To 'StoneX Group,' Will Trade On Ticker 'SNEX'

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