Latest news for  (OTC:ISSEF) Stock

Truist Securities analyst Jamie Cook reiterates AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) with a Buy and lowers the price target from $130 to $118.

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Price Target

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Analyst Ratings

AGCO

Truist Securities Reiterates Buy on AGCO, Lowers Price Target to $118

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is raising $1.8 billion in a debt offering. The move is being done to help the company refinance debt and to continue competing in the highly <a href="https://www.benzinga.com/topic/streaming-stocks">competitive streaming sector.</a>
What Happened: Netflix ended <a href="http://Netflix Q2 Earnings Highlights: Revenue Beat, EPS Beat, Advertising Revenue 'More Meaningful,' 'Squid Game' Multiplayer Game Coming">the second quarter</a> with 277.65 million global paid subscribers, adding 8.05 million paid subs in the quarter.
The company continues to be a leader in the streaming space and a new debt offering could be done to continue that leadership.
Netflix is raising $1.8 billion with $1 billion in 4.9% senior notes due in 2034 and $800 million in 5.4% senior notes due in 2054.
This is Netflix&#8217;s first debt offering since April 2020 and the first since being upgraded to investment-grade status by Moody's and S&amp;P Global in 2023, as <a href="https://www.hollywoodreporter.com/business/business-news/netflix-raising-cash-new-debt-offering-1235961175/">reported </a>by The Hollywood Reporter.
Netflix said it will use the cash raised from the offering to refinance debt that matures next year and for "general corporate purposes."
"Our management will have broad discretion in the application of the net proceeds, and the purposes for which they are used may change from those described above," the company said.
Read Also: <a href="https://www.benzinga.com/news/24/07/39932764/kamala-harris-presidential-campaign-secures-7m-from-netflix-co-founder-reed-hastings">Kamala Harris&#8217; Presidential Campaign Secures $7M From Netflix Co-Founder Reed Hastings</a>
Why It's Important: The new debt offering appears to be mainly to refinance existing debt, but will likely catch the eyes of investors and analysts and could lead to speculation.
Netflix has been aggressive in acquiring sports rights with WWE content and two National Football League games among the upcoming live sports content being available to subscribers in the future.
The company is also continuing to pursue its gaming aspirations and seeking growth with its ad-supported plan.
Armed with additional cash from the offering, the company could consider acquisitions in the streaming or gaming space to continue its growth.
NFLX Price Action: Netflix shares are up 1% to $626.30 on Wednesday, versus a 52-week trading range of $344.73 to $697.49. Netflix stock is up 28% year-to-date in 2024.
Read Next: 
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</ul>
Photo: QubixStudio / Shutterstock.com

Entertainment

Financing

Trading Ideas

NFLX

Netflix To Raise $1.8 Billion: Here's How The Company Is Using Funding From First Debt Offering In 4 Years

RENB

Renovaro Shares Halted On Circuit Breaker To The Upside, Stock Now Up 65.7%

Truist Securities analyst Srikripa Devarakonda initiates coverage on Nurix Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRIX#NASDAQ">NRIX</a>) with a Buy rating and announces Price Target of $36.

Initiation

NRIX

Truist Securities Initiates Coverage On Nurix Therapeutics with Buy Rating, Announces Price Target of $36

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has come under scrutiny for reportedly running ads on Facebook and Instagram that direct users to online marketplaces for illegal drugs, even as it faces a federal investigation over the same issue.
What Happened: Meta has been reportedly profiting from ads that violate its own policies against promoting illicit or recreational drugs, The Wall Street Journal <a href="https://www.wsj.com/tech/meta-cocaine-opioids-ads-dea8e0fc?mod=hp_lead_pos4">reported</a> on Wednesday. The review found numerous ads selling illegal substances like cocaine and prescription opioids. Furthermore, an independent analysis by an industry watchdog group found hundreds of such ads over recent months.
These ads often display images of prescription drug bottles, piles of pills, or bricks of cocaine. One ad discovered in July encouraged users to &#8220;Place your orders,&#8221; alongside a photo of a razorblade and a yellow powder arranged to spell out &#8220;DMT,&#8221; a psychedelic drug.
Meta&#8217;s artificial intelligence tools for content moderation have been unsuccessful in stopping these drug ads, which often redirect users to other platforms for purchases. The use of photos to display the drugs available appears to allow the ads to bypass Meta&#8217;s content-moderation systems.
See Also: <a href="https://www.benzinga.com/news/24/07/40057398/elon-musk-might-be-sidelining-linkedin-to-promote-x-but-microsoft-ceo-satya-nadella-says-it-continue?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Might Be Sidelining LinkedIn To Promote X, But Microsoft CEO Satya Nadella Says It Continues To See &#8216;Record Engagement&#8217;</a>
Users who click on the Facebook pages or Instagram accounts associated with these ads often find additional, nonsponsored photos or posts of drug-related content. The links in the ads typically lead users to private group chats on the app Telegram, which isn't owned by Meta.
Meta disabled many of the drug ads identified by the Journal within 48 hours of their publication, according to a company spokesman. All of the ads have now been removed for violating Meta's policies, and the users who created the ads have been banned from the platform.
There has been ongoing discussion among lawmakers about holding technology companies accountable for third-party posts on their platforms. However, efforts have been complicated by Section 230 of the Communications Decency Act, which generally exempts online platforms from liability for third-party posts.
Meta has yet to respond to the queries sent by Benzinga.
Why It Matters: This isn&#8217;t the first time Meta has been linked to illicit drug sales. In March, U.S. prosecutors were investigating <a href="https://www.benzinga.com/markets/cannabis/24/03/37767225/do-meta-and-other-platforms-play-a-role-in-illicit-drug-sales-us-prosecutors-are-investigating">whether Meta&#8217;s platforms</a> were facilitating and profiting from the illegal sale of drugs.
This followed a <a href="https://www.benzinga.com/news/23/06/32888989/facebook-instagram-flooed-with-ads-for-ozempic-style-weight-loss-drugs-nbc-news">June 2023 report</a> about a surge in ads for weight-loss drugs on Facebook and Instagram. Meta&#8217;s platform Threads was also found to be directing users to rehab <a href="https://www.benzinga.com/markets/cannabis/23/07/33141236/metas-threads-directs-cannabis-psychedelics-users-to-rehab-help-but-alcohol-and-tobacco-are-no-b">help for cannabis and psychedelic</a> use.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40038023/magnificent-seven-face-pivotal-market-moment-as-4-mega-tech-giants-report-earnings-this-week?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Magnificent 7 Face Pivotal Market Moment As 4 Mega Tech Giants Report Earnings This Week</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

Meta Slammed For Reportedly Profiting From Ads Promoting Illegal Drugs

Barclays analyst Seth Sigman maintains Beyond (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>) with a Equal-Weight and lowers the price target from $16 to $14.

BYON

Barclays Maintains Equal-Weight on Beyond, Lowers Price Target to $14

WIIM

PEPG

PepGen shares are trading lower. The company announced clinical data from the first dose cohort of PGN-EDO51.

PYPL

PayPal shares are trading higher amid continued strength after the company yesterday reported better-than-expected Q2 financial results. Also, Bernstein upgraded the stock from Market Perform to Outperform and multiple firms raised their respective price targets.

BMO Capital analyst Ameet Thakkar maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Outperform and lowers the price target from $311 to $286.

FSLR

BMO Capital Maintains Outperform on First Solar, Lowers Price Target to $286

Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading lower today.</a>
The company reported second-quarter adjusted earnings per share of $2.50, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n40063571/marriott-international-reports-second-quarter-2024-results" rel="noreferrer noopener">beating the street view of $2.47.</a>
Quarterly sales of $6.439 billion missed the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">analyst consensus of $6.483 billion.</a>
Anthony Capuano, President and Chief Executive Officer, said, &#8220;Marriott reported strong second quarter results, with net rooms up 6 percent year over year and worldwide RevPAR&nbsp;growth of nearly 5 percent, as consumers continued to prioritize travel&#8221;.&nbsp;
International RevPAR rose over 7%, driven by a notable 13% increase in Asia Pacific (excluding China) compared to the previous year.
Adjusted EBITDA for the quarter was $1.324 billion, up from $1.219 billion in the year-ago period.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/40062747/asia-markets-up-europe-opens-higher-crude-advances-2-6-global-markets-today-while-us-slept" rel="noreferrer noopener">Asia Markets Up, Europe Opens Higher, Crude Advances 2.6% &#8211; Global Markets Today While US Slept</a>
Base management and franchise fees totaled&nbsp;$1.148 billion&nbsp;in the quarter, up 9%. Incentive management fees totaled&nbsp;$195 million&nbsp;in the 2024 second quarter, compared to&nbsp;$193 million a year ago.
At the end of the quarter, Marriott&#8217;s global development pipeline included around 3,500 properties and over 559,000 rooms.
This total comprises approximately 33,000 rooms approved but not yet under signed contracts, with more than 209,000 rooms currently under construction.
At the end of the quarter, Marriott&#8217;s total debt was&nbsp;$13.1 billion&nbsp;and cash and equivalents totaled&nbsp;$0.3 billion.
Outlook: Marriott expects third quarter 2024 gross fee revenues to range between $1.275 billion and $1.29 billion, with adjusted EPS projected to be $2.27 to $2.33, <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">falling short of the $2.38 estimate.</a>
Marriott projects full-year 2024 adjusted EPS between $9.23 and $9.40, significantly below the $9.50 estimate <a target="_blank" href="https://www.benzinga.com//node/38545409" rel="noreferrer noopener">(prior view: $9.31&nbsp;to&nbsp;$9.65), </a>with gross fee revenues of $5.13 billion to $5.18 billion (prior view
$5.18 billion&nbsp;to&nbsp;$5.28 billion).
Price Action: MAR shares are trading lower by 4.51% to $228.00 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons
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</ul>

Earnings

Equities

Guidance

Markets

Movers

Marriott Shares Drop 5% Despite Q2 EPS Beat; Slashed FY24 Outlook Disappoints Investors

Barclays analyst Peter Lawson maintains Arvinas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) with a Overweight and lowers the price target from $60 to $48.

ARVN

Barclays Maintains Overweight on Arvinas, Lowers Price Target to $48

BMO Capital analyst James Thalacker maintains CenterPoint Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNP#NYSE">CNP</a>) with a Outperform and lowers the price target from $32 to $31.

BMO Capital Maintains Outperform on CenterPoint Energy, Lowers Price Target to $31

Macro Economic Events

Global

Economics

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

Hamas Senior Official Al-Hayya Says All Options Failed With Israel, No Other Option But Resistance

NCLH

Norwegian Cruise Line Exec Says "Entire Increase In Our Guidance Is On The Back Of Stronger Pricing"

BMO Capital analyst Tamy Chen maintains George Weston (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WN#TSX">WN</a>) with a Market Perform and raises the price target from C$196 to C$220.

TSX:WN

BMO Capital Maintains Market Perform on George Weston, Raises Price Target to C$220

BMO Capital analyst Ketan Mamtora maintains UFP Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFPI#NASDAQ">UFPI</a>) with a Market Perform and raises the price target from $115 to $125.

UFPI

BMO Capital Maintains Market Perform on UFP Industries, Raises Price Target to $125

Clean Harbors shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 adjusted EBITDA guidance.

RBC Capital analyst Gregory Renza maintains Pacira BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCRX#NASDAQ">PCRX</a>) with a Outperform and lowers the price target from $42 to $37.

PCRX

RBC Capital Maintains Outperform on Pacira BioSciences, Lowers Price Target to $37

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust </h3>
SPY&nbsp;(ARCA: SPY) is currently trading around our key level of 547.56. For the bulls, an initial push higher to 548.13 is desirable. Sustained buying above 548.13 could drive the price towards our next resistance at 549.00. If 549.00 holds during regular trading hours, we could see a further rally to 549.67. Our high bull target for SPY today is 550.45.
Should 547.56 fail to hold as support, we expect the bears to test 546.46. Further selling pressure might lead to a drop to 545.24. If heavy selling continues, a stronger support level at 544.04 could be tested. In a severe sell-off, our low bear target for the day is 542.93.
<h3>Invesco QQQ Trust Series 1 </h3>
QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is currently hovering around our critical level of 463.56. For a bullish outlook, we need to see the price hold above 463.56. If this level is maintained, buyers could push the price to 465.93. Further bullish action might bring 467.60 into focus, with a potential move up to 469.27 if buying pressure remains strong. Our high bull target for QQQ today is 471.33.
If QQQ struggles to stay above 463.56 during trading hours, we anticipate bearish momentum to drive the price down to 462.14. Continued weakness might lead to a drop to 460.55. If sellers dominate, we could see a test of 458.83, with the low bear target for the day set at 457.55.
<h3>Apple Inc.</h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is trading near our level of 220.29. For a bullish scenario, we want this level to act as support. If 220.29 holds, the price could rally to 220.97. Continued bullish strength might push the price up to 221.66. Should the bulls control the session, our high bull target for Apple is 222.24.
If 220.29 fails to provide support, we expect a test of 219.19. Further downside pressure could lead to a drop to 218.08. Persistent selling might drive the price to 216.70. In a bearish scenario, the low bear target for Apple is 215.25.
<h3>Microsoft Corp.</h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently around our key level of 409.69. For the bulls, holding above 410.64 is crucial. If the price remains strong above this level, we could see a move to 411.72. Sustained bullish momentum might push the price to 413.14. Our high bull target for Microsoft today is 414.56.
If 409.69 does not hold as support, we expect bears to test 408.46. Continued selling could lead to a drop to 407.11. If downside pressure persists, the price might reach 406.01. Our low bear target for Microsoft today is 404.92.
<h3>NVIDIA Corporation</h3>
NVIDIA&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is trading near our key level of 109.86. For a bullish outlook, we need to see the price push up to 110.73 and establish it as support. If this occurs, we could see a rally to 111.70. Further buying pressure might drive the price to 112.54. Our high bull target for NVIDIA today is 113.68.
If 109.86 fails to hold as support, we anticipate a test of 109.12. Continued selling pressure might lead to a drop to 107.51. If the auction weakens, the price could test 106.30. Our low bear target for NVIDIA is 105.23.
<h3>Alphabet Inc Class A </h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is currently trading around 171.14. For the bulls, holding above 171.14 is essential. If this level is maintained, we could see the price rise to 172.28. Continued bullish momentum might drive the price to our high bull target of 174.01.
If 171.14 does not hold as support, we expect the price to drop to 169.34. Further bearish action might lead to a test of 167.04. In a strong sell-off, the price could fall to our low bear target for Alphabet at 165.41.
<h3>Meta Platforms Inc </h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is trading near 462.20. For a bullish scenario, we need to see the price hold above 464.57. If this level is maintained, the price could rise to 465.81. Further buying pressure might push the price to 468.38. Our high bull target for Meta today is 470.28.
If 462.20 fails to hold as support, we expect a test of 458.59. Continued selling pressure could drive the price to 455.87. If the bears dominate, the price might fall to our low bear target for Meta at 453.45.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading around our key level of 223.98. For a bullish outlook, we want to see the price rise to 226.53. If buying momentum continues, we could see a rally to 228.45. Should the broader market rally, Tesla might test 230.65. Our high bull target for Tesla today is 233.49.
If 223.98 does not hold as support, we expect a test of 222.19. Continued selling could bring the price down to 220.65. If this level is broken, the price might drop to our low bear target for Tesla at 219.39.
Final Word: Today&#39;s trading session is packed with critical economic data that could significantly impact market movements. The day begins with the ADP Non-Farm Employment Change for July, released at 8:15 AM ET. This report often provides insights into the broader labor market trends, making it a crucial indicator for market participants. Shortly after, at 8:30 AM ET, the Q2 Employment Cost Index will be published. This index measures the change in the costs of labor, offering a glimpse into wage inflation, which is a key factor for the Federal Reserve&#39;s monetary policy decisions.
At 10 AM ET, we will get the Pending Home Sales data for June. This report reflects the health of the housing market, an essential component of the economy, and can influence market sentiment. However, the most anticipated event of the day is the FOMC Interest Rate Decision at 2 PM ET. The Federal Reserve is widely expected to keep rates on hold, but the market will be keenly focused on any hints about future monetary policy.
Fed Chair Jerome Powell&#39;s Post-Rate Decision Press Conference at 2:30 PM ET is likely to be a pivotal moment. Investors and traders will scrutinize his comments for clues about the Fed&#39;s outlook on inflation, economic growth, and the potential for future rate hikes or cuts. Powell&#39;s insights will be crucial in shaping expectations for September&#39;s FOMC Rate Decision, making his statements highly influential for market direction.
Given the range of significant data releases and the Fed&#39;s guidance, today is likely to be the most volatile and challenging trading session of the month. The interplay between labor market data, housing market indicators, and the Federal Reserve&#39;s stance on monetary policy will create a dynamic environment. Traders should be prepared for rapid price movements and adjust their strategies accordingly. It&rsquo;s essential to stay vigilant, manage risks carefully, and be ready to act on any market-moving information. Good luck, keep your head on a swivel, and trade safely!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

AAPL

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MSFT

NVDA

TSLA

Market Clubhouse Morning Memo - July 31st, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

CDW shares are trading lower after the company reported worse-than-expected Q2 financial results.

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