Latest news for JOANN Inc (OTC:JOANQ) Stock

JOANN Inc

BMO Capital analyst Daniel Jester maintains Procore Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) with a Outperform and raises the price target from $71 to $85.

News

Price Target

Analyst Ratings

PCOR

BMO Capital Maintains Outperform on Procore Technologies, Raises Price Target to $85

Ming Shing Group Holdings Limited (the "Company" or "Ming Shing") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSW#NASDAQ">MSW</a>), a Hong Kong-based company mainly engaged in wet trades works whose mission it is to become the leading wet trades works service provider in Hong Kong, today announced the pricing of its initial public offering (the "Offering") of 1,500,000 ordinary shares ("Shares") at a public offering price of $5.50 per Share. The Shares are expected to begin trading on the Nasdaq Capital Market on November 22, 2024, under the ticker symbol "MSW".
The Company expects to receive aggregate gross proceeds of $8,250,000 from this Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 225,000 Shares at the public offering price, less the underwriting discounts.
The Company intends to use the net proceeds of the Offering for (i) expanding the Company's workforce; (ii) repayment of bank borrowings and finance leases; (iii) acquiring additional equipment; (iv) procuring an enterprise resource planning system; and (v) general working capital purposes.
The Offering is expected to close on November 25, 2024, subject to the satisfaction of customary closing conditions.

IPOs

Ming Shing Group Holdings Prices $8.25M Initial Public Offering Of 1.5M Shares At A Price Of $5.50/Share

BMO Capital analyst Simeon Siegel maintains Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) with a Market Perform and raises the price target from $23 to $25.

BMO Capital Maintains Market Perform on Gap, Raises Price Target to $25

HSBC analyst Stephen Bersey downgrades Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) from Hold to Reduce and lowers the price target from $304 to $291.

Downgrades

PANW

HSBC Downgrades Palo Alto Networks to Reduce, Lowers Price Target to $291

BMO Capital analyst Tamy Chen maintains Dollarama (TSX:<a class="ticker" href="https://www.benzinga.com/stock/DOL#TSX">DOL</a>) with a Outperform and raises the price target from C$147 to C$154.

TSX:DOL

BMO Capital Maintains Outperform on Dollarama, Raises Price Target to C$154

Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) shares are moving lower on Friday following a report suggesting that shareholder Advance Magazine Publishers, Inc. plans to establish a credit facility using its stake in the company. Here&#8217;s what you <a href="https://www.benzinga.com/24/11/42132644/reddit-falls-7-in-afterhours-as-advance-plans-stake-sale-technicals-show-strong-support-but-selling-pressure-persists-at-overbought-levels">need to know</a>.
What To Know: According to <a href="https://finance.yahoo.com/news/reddit-share-sale-plan-sparks-125245363.html">Yahoo Finance</a>, the publishing company aims to make as much $1.2 billion in a sale of 7.8 million shares for between $145.38 to $148.54 per share.
Even though the company plans to sell shares, Advance is not exiting its investment in Reddit. Instead, the company is borrowing against the value of its Reddit shares. To maintain its ownership stake, Advance is purchasing derivatives linked to its Reddit shares.
How To Buy Reddit Stock
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Reddit's case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
See Also: <a href="https://www.benzinga.com/24/11/42118133/short-seller-andrew-left-targets-microstrategy-stock-as-hedge-against-bullish-bitcoin-bet-completely-detached-from-btc-fundamentals">Short Seller Andrew Left Targets MicroStrategy Stock As Hedge Against Bullish Bitcoin Bet: &#8216;Completely Detached From BTC Fundamentals&#8217;</a>
RDDT Price Action: At the time of writing, Reddit shares are trading 9.01% lower at $143.84, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Image via Shutterstock

Small Cap

Movers

RDDT

What's Going On With Reddit Stock Friday?

On Nov. 12, the U.S. House of Representatives passed the <a href="https://www.benzinga.com/personal-finance/24/09/41051553/bipartisan-effort-to-eliminate-social-security-cuts-for-teachers-police-and-more-grows-in-congre">Social Security Fairness Act</a>, a bipartisan bill set in motion to eliminate two long-standing provisions that currently reduce Social Security benefits for public sector employees.&nbsp;
The legislation was first introduced in 2023 and will now head to the Senate, where it has strong bipartisan support. If passed, it is estimated to cost $196 billion over the next decade. Critics worry that enacting this bill could further exacerbate <a href="https://www.benzinga.com/personal-finance/24/09/41082731/new-survey-finds-75-of-americans-support-cuts-for-higher-income-retirees-to-cover-social-securit">Social Security's funding challenges</a>.&nbsp;
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<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/cd-valet-growth">CD Popularity Soars: Over 50 Million Americans Embrace Safe Savings with 5–10% Annual Growth</a></li>
</ul>
<h2 class="wp-block-heading">What Does the Social Security Fairness Act Do?</h2>
The bill addresses two key provisions – added to the Social Security Act in 1983 – that affect public sector workers:
<ol>
<li>The Windfall Elimination Provision (WEP): This rule reduces Social Security benefits for individuals who receive pensions from jobs where they didn't pay Social Security taxes, like certain state and local government positions. According to the Congressional Research Service, about 2.1 million people are affected by this provision. </li>
<li>The Government Pension Offset (GPO): The GPO reduces Social Security benefits for spouses, widows and widowers who receive government pensions. About 745,000 individuals currently receive reduced benefits under this provision. </li>
</ol>
Those in support of repealing these rules argue that they unfairly penalize retired teachers, police officers, firefighters and other public servants, many of whom heavily rely on their Social Security and pension benefits for their income. 
See Also: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
<h2 class="wp-block-heading">Supporters Praise the Bill</h2>
Proponents of the bill see it as a victory for equity. Representative Garret Graves (R-La.), a coleader of the bill, stated on the House floor, "This has been 40 years of treating people differently, discriminating against a certain set of workers."&nbsp;
The National Committee to Preserve Social Security and Medicare called the House vote a &#8220;bipartisan victory&#8221; for public employees and their families.
<h2 class="wp-block-heading">Concerns About Social Security's Future</h2>
While the bill aims to address disparities among a demographic affected for over 40 years, critics are concerned that enacting it could further strain Social Security's already depleting finances.&nbsp;
The Congressional Budget Office estimates the bill would add $196 billion to deficits over the next 10 years and bring the trust fund depletion date forward by six months. Social Security funds are expected to run out at their current rate <a href="https://www.benzinga.com/personal-finance/24/09/40817544/report-warns-of-16-500-annual-social-security-benefit-cut-for-dual-income-couples-by-2033">in 2033</a>, meaning that beneficiaries would receive about 79% of their benefits. 
Trending: This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
Some lawmakers, like Rep. John Larson (D-Conn.), argue that, while reform is necessary, it needs to be handled differently. "I could not vote for the bills on the floor tonight because they are not paid for and therefore put Americans' hard-earned benefits at risk," Larson said. "It would hurt most deeply the five million of our fellow Americans who receive below poverty checks and almost half of all Social Security recipients who rely on their earned benefits for the majority of their income."&nbsp;
Instead, Larson proposed an alternative proposal: the Social Security 2100 Act. This would also repeal the WEP and GPO and include additional measures to increase revenues, like raising payroll taxes for higher earners.&nbsp;
Policy experts also express their concerns. Romina Boccia, director of budget and entitlement policy at the Cato Institute, criticized the bill, stating the policy is wrong and needs broader changes.&nbsp;
"We should reform Social Security so that it provides basic income security to the most vulnerable Americans in old age without adding to the debt or tax burden that younger workers face," Boccia said.
Trending: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
<h2 class="wp-block-heading">What Happens Next?&nbsp;</h2>
The Social Security Fairness Act has already garnered enough Senate cosponsors to pass if brought to the floor for a vote. If signed into law, repealing the WEP and GPO would apply to benefits starting in 2024, significantly changing the benefits for the affected retirees and leaving unresolved questions about the program's long-term solvency.&nbsp;
Read Next:
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<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
</ul>

Personal Finance

House Passes $196 Billion Social Security Bill: Will Repealing Pension Reductions Shorten The Program's Lifespan?

Viking Therapeutics's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NYSE">VKTX</a>) short percent of float has fallen 7.72% since its last report. The company recently reported that it has 13.28 million shares sold short, which is 16.01% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.94 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Viking Therapeutics Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732292122_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Viking Therapeutics has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Viking Therapeutics's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Viking Therapeutics's peer group average for short interest as a percentage of float is 12.47%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

VKTX

How Is The Market Feeling About Viking Therapeutics?

Crown Castle's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) short percent of float has risen 26.24% since its last report. The company recently reported that it has 6.74 million shares sold short, which is 1.78% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.76 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Crown Castle Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732292116_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Crown Castle has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Crown Castle's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Crown Castle's peer group average for short interest as a percentage of float is 4.27%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Crown Castle's Recent Short Interest

Enovix's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NYSE">ENVX</a>) short percent of float has fallen 33.3% since its last report. The company recently reported that it has 48.48 million shares sold short, which is 29.26% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.05 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Enovix Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732292111_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Enovix has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Enovix's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Enovix's peer group average for short interest as a percentage of float is 8.29%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

ENVX

Looking Into Enovix's Recent Short Interest

BMO Capital analyst Jeffrey Silber upgrades ASGN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASGN#NYSE">ASGN</a>) from Market Perform to Outperform and raises the price target from $96 to $100.

Upgrades

ASGN

BMO Capital Upgrades ASGN to Outperform, Raises Price Target to $100

On Friday, Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Anthropic announced an expansion of their strategic partnership, strengthening their collaboration on <a target="_blank" href="https://www.aboutamazon.com/news/aws/amazon-invests-additional-4-billion-anthropic-ai" rel="noreferrer noopener">artificial intelligence advancements</a>. &nbsp;
Anthropic raised&nbsp;an additional $4 billion from Amazon. This deepened alliance builds on Amazon&#8217;s $4 billion investment in Anthropic last year, which positioned Amazon Web Services (AWS) as Anthropic&#8217;s primary cloud provider.
Also Read: <a target="_blank" href="https://www.benzinga.com/media/24/11/42136902/microsofts-brad-smith-urges-trump-government-to-tackle-growing-cyber-threats" rel="noreferrer noopener">Microsoft&#8217;s Brad Smith Urges Trump Government to Tackle Growing Cyber Threats</a>
OpenAI rival Anthropic has now designated AWS as its primary training partner, utilizing AWS Trainium and Inferentia chips to develop and deploy its next-generation foundation models.
Amazon&#8217;s latest cash investment increased its total funding in Anthropic to $8 billion, while Anthropic confirmed that Amazon remains a minority investor. So far, Anthropic has secured $13.7 billion in venture capital funding, TechCrunch <a target="_blank" href="https://techcrunch.com/2024/11/22/anthropic-raises-an-additional-4b-from-amazon-makes-aws-its-primary-cloud-partner/" rel="noreferrer noopener">cites</a> Crunchbase.
Both companies are committed to advancing Trainium&#8217;s hardware and software capabilities, ensuring optimized performance, security, and privacy for customers leveraging Amazon Bedrock&#8217;s Claude models.
As part of the expanded collaboration, AWS customers will gain early access to fine-tune Anthropic models with their data, offering unique customization capabilities for the new Claude model family.
This exclusive feature aligns with Amazon&#8217;s focus on delivering cutting-edge generative AI solutions through its Bedrock platform.
Amazon Bedrock introduced Anthropic&#8217;s Claude 3.5 Haiku and an upgraded Claude 3.5 Sonnet, showcasing their most advanced AI capabilities. Claude 3.5 Sonnet now includes enhanced agentic features like computer use, outperforming other publicly available models in Anthropic&#8217;s tests.
These innovations continue to drive enterprises such as HackerOne, HUDstats, and Sapio Sciences to adopt anthropopic models.
Matt Garman, AWS CEO, praised the collaboration, stating, &#8220;By continuing to deploy Anthropic models in Amazon Bedrock and collaborating on Trainium chips, we&#8217;ll push the boundaries of generative AI technologies.&#8221;
Anthropic CEO Dario Amodei emphasized the partnership&#8217;s impact, noting, &#8220;Our collaboration with Amazon has been instrumental in bringing Claude&#8217;s capabilities to millions of end users.&#8221;
The U.K.&#8217;s Competition and Markets Authority (CMA) scrutinized Amazon and Anthropic&#8217;s partnership following the Federal Trade Commission&#8217;s inquiry into Amazon&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/08/40255295/amazons-4b-stake-in-anthropic-under-uk-investigation-for-anti-competitive-concerns" rel="noreferrer noopener">$4 billion investment</a> in September 2023. In September 2024, the CMA <a target="_blank" href="https://www.benzinga.com/m-a/24/09/41067395/amazons-partnership-with-jeff-bezos-backed-anthropic-gets-green-signal-from-uk-competition-watchdog" rel="noreferrer noopener">approved the partnership</a>.
The regulator is examining whether the partnership resembles a merger and whether it could lead to anti-competitive practices within the artificial intelligence sector.
U.K. regulators are also investigating Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google&#8217;s $2 billion investment in Anthropic for <a target="_blank" href="https://www.benzinga.com/government/24/10/41528255/googles-2b-investment-in-anthropic-under-scrutiny-uk-opens-competition-inquiry" rel="noreferrer noopener">potential competition concerns</a>.
Price Action: AMZN stock is down 0.12% at $198.15 at the last check on Friday.
Also Read:
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<li><a href="https://www.benzinga.com/24/11/42120110/alibaba-reshapes-e-commerce-operations-names-jiang-fan-as-unit-ceo" target="_blank" rel="noreferrer noopener">Alibaba Reshapes E-Commerce Operations, Names Jiang Fan as Unit CEO</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

AMZN

GOOG

GOOGL

Amazon Strengthens Anthropic Partnership with $8 Billion AI Investment

Gap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) shares are moving higher on Friday after the company reported better-than-expected 2024 third-quarter earnings on Thursday <a href="https://www.benzinga.com//node/42125007">after the bell</a>.
What Happened: Gap shares traded about 13% higher on Thursday after the company released earnings. The company&#8217;s earnings report included earnings per share of 72 cents, beating analyst estimates of 57 cents.
In addition, the company reported sales of $3.82 billion, beating analyst estimates of $3.81 billion. The company broke down its sales for the quarter further. Specifically, Gap reported store sales decreased by 2% year-over-year and online sales increased by 7% year-over-year.
Additionally, the company reported net sales of $2.2 billion from Old Navy, $899 million from Gap, $469 million from Banana Republic and $290 million from Athleta.
Furthermore, Gap reported other key pieces of financial data. It reported operating expenses of $1.3 billion and operating income of $355 million. The company said it ended the quarter with $2.2 billion in cash, cash equivalents and short-term investments, a 64% growth compared to the prior year.
&#8220;I&#8217;m proud that Gap Inc. delivered another successful quarter, growing net sales for the 4th&nbsp;consecutive quarter and gaining market share across all brands while meaningfully expanding operating margin,&#8221; said President and CEO,&nbsp;Richard Dickson. 
&#8220;Consistent execution of our strategic priorities, including the rigor and repetition we&#8217;re applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.&#8217;s full potential.&#8221;
Gap raised its outlook for the 2024 fiscal year. It now expects revenue to be up 1.5% to 2% and operating income margin in the mid to high 60% range.
Analyst Changes: Following the earnings report, several analysts issued price target adjustments.
<ul>
<li>Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating on Gap and maintained a $26 price target.</li>
<li>B of A Securities maintained a Neutral rating on Gap and raised the price target from&nbsp;$25&nbsp;to&nbsp;$28.</li>
<li>Morgan Stanley analyst Alex Straton maintained an Overweight rating on Gap and raised the price target from&nbsp;$29&nbsp;to&nbsp;$30.</li>
<li>Barclays analyst Adrienne Yih maintained an Overweight rating on Gap and raised the price target from&nbsp;$31&nbsp;to&nbsp;$32.</li>
<li>Wells Fargo analyst Ike Boruchow maintained an Overweight rating on Gap and raised the price target from&nbsp;$28&nbsp;to&nbsp;$30.</li>
<li>Evercore ISI Group analyst Michael Binetti maintained an Outperform rating on Gap and raised the price target from&nbsp;$32&nbsp;to&nbsp;$33.</li>
</ul>
Related Link: <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full">Nvidia Beats Q3 Revenue, EPS Estimates, Supply Constraints Ding Stock: Huang Says &#8216;Age Of AI Is In Full Steam&#8217; (UPDATED)</a>
GAP Price Action: At the time of writing, Gap shares are trading 9.07% higher at $24.04, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Courtesy of Gap, Inc.

What's Going On With Gap Shares Friday?

Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) stock remained largely unchanged this week as investors digested NVIDIA Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/42121215/nvidia-post-earnings-jitters-can-nvda-stock-regain-its-ai-fueled-momentum">third-quarter earnings report</a>.
Nvidia, AMD&#8217;s key competitor in high-performance GPUs and AI hardware, posted solid third-quarter results that beat analyst expectations. However, its guidance for the fourth quarter dampened enthusiasm, leaving some investors cautious about the short-term outlook.
What To Know: Analysts praised Nvidia's performance, noting strong AI demand and a robust product pipeline, particularly around its next-generation Blackwell architecture. 
Cantor Fitzgerald and Piper Sandler analysts emphasized that the Blackwell ramp is outpacing initial expectations, and demand continues to outstrip supply. Despite this, Nvidia's guidance for fourth quarter gross margins and revenue fell short of lofty investor expectations, triggering some profit-taking.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42135905/bitcoin-nears-100000-momentum-could-continue-well-beyond-the-milestone-experts-note">Bitcoin Nears $100,000, &#8216;Momentum Could Continue Well Beyond The Milestone,&#8217; Experts Note</a>
For AMD, the lack of significant movement in its stock price reflects the lingering uncertainty in the sector. While Nvidia solidifies its dominance in AI hardware, AMD has been making inroads with its MI300 chips, targeting similar data center and AI workloads. Investors appear to be awaiting clearer signs of market share gains or a breakout moment for AMD in the competitive AI space.
Nvidia's results serve as a bellwether for the broader semiconductor industry, and the mixed reactions highlight investor sensitivity to future growth prospects amidst a year of outsized gains for AI-related stocks. 
With AMD and Nvidia navigating a rapidly evolving landscape, all eyes remain on product launches and guidance updates in early 2025.
Read Also: <a href="https://www.benzinga.com/news/large-cap/24/11/42094649/nvidia-stock-historically-drops-in-december-after-q3-earnings">Nvidia Stock Historically Drops In December After Q3 Earnings</a>
<h2 class="wp-block-heading">How To Buy AMD Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Advanced Micro Devices&#8217; case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, AMD has a 52-week high of $227.30 and a 52-week low of $116.37.

NVDA

What's Going On With AMD Stock?

WIIM

TMDX

TransMedics shares are trading lower after Needham downgraded the stock from Buy to Hold.

Hidetaka Miyazaki, the director of Elden Ring and president of FromSoftware, apologized to fans for the long wait for the Shadow of the Erdtree DLC while accepting the Best Game Expansion award during the <a href="https://www.benzinga.com/general/gaming">Golden Joystick Awards.</a> 
In a video message, Miyazaki expressed gratitude to fans for their support and teased that the studio is working on multiple new projects.ç
See Also: <a href="https://www.benzinga.com/general/gaming/24/11/42068231/sony-in-talks-to-acquire-elden-ring-publisher-kadokawa-report">Sony In Talks To Acquire Elden Ring Publisher Kadokawa: Report</a>
&#8220;I must sincerely apologize for the lengthy wait of over two years since the release of the main game to deliver this DLC,&#8221; Miyazaki said. 
He called the award an "incredible honor" and thanked players for their patience and dedication. "Receiving such a prestigious reward brings me great relief, and I am deeply thankful to all the players who enjoyed and supported the main game and the DLC."
<h3 class="wp-block-heading">FromSoftware Has New Projects In Development</h3>
"We are currently working on various new projects, and I hope you will look forward to what we have in store next," Miyazaki said.
However, he didn't elaborate on what these might be, <a href="https://www.benzinga.com/general/entertainment/24/07/39579853/george-r-r-martin-fuels-rumors-about-elden-ring-movie-or-tv-show">leaving fans to speculate. </a>
In June, Miyazaki admitted that even his own team supports fans&#8217; calls for a PC port of Bloodborne. Speaking to PC Gamer, he jokingly said, &#8220;I know for a fact these guys want a Bloodborne PC port. If I say I want one, I&#8217;ll get in trouble as well. But it&#8217;s nothing I&#8217;m opposed to.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/general/gaming/24/11/42121273/baldurs-gate-3-sees-more-players-in-2024-than-during-launch-year-heres-why">Baldur&#8217;s Gate 3 Sees More Players In 2024 Than During Launch Year: Here&#8217;s Why</a></li>
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Photo: Shutterstock

Gaming

General

Elden Ring Creator Hidetaka Miyazaki Teases 'Various New Projects' In Development

Carpenter Technology shares are trading higher after JP Morgan initiated coverage on the stock with an Overweight rating and announced a price target of $200.

CROX

Crocs shares are trading higher after Needham initiated coverage on the stock with a Buy rating and announced a price target of $116.

Piper Sandler analyst Rob Owens maintains Elastic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) with a Overweight and raises the price target from $100 to $130.

ESTC

Piper Sandler Maintains Overweight on Elastic, Raises Price Target to $130

PTGX

Protagonist Therapeutics shares are trading higher. HC Wainwright & Co. reiterated a Buy rating on the stock.

The fast-changing equations of consumer purchasing patterns have resulted in another casualty in the retail space. This week, multi-brand fashion r...

M&A News: Fashion Retailer Express (OTC:EXPR) Files for Bankruptcy

JOANN (JOANQ) has issued an update. On the designated Effective Date, the company successfully transitioned from a Debtor-in-Possession Credit Agre...

JOANN Restructures Finances and Governance, Exits Chapter 11

JOANN says CFO Sekella steps down

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EXPR

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JOANN Inc. ("JOANN" or the "Company"), the nation's category leader in sewing and fabrics with one of the largest arts and crafts offerings, today announced that the U.S. Bankruptcy Court for the District of Delaware has confirmed the Company's Prepackaged Joint Plan of Reorganization. JOANN expects to successfully complete its financial restructuring and emerge from the court-supervised process in the coming days. &nbsp;As reiterated throughout this expedited process, the Company's more than 800 store locations remain open and JOANN.com continues to offer supplies for any creative need, and the Company was able to preserve the jobs of its more than 18,000 Team Members in connection with this process.Chris DiTullio, Chief Customer Officer and co-lead of the Interim Office of the CEO, said, "We are pleased to have reached this significant milestone less than 40 days after initiating our court-supervised process. We could not have reached this point without the unwavering dedication of our Team Members, the continued support of our industry partners and landlords, and the tremendous loyalty and enthusiasm of our customers. JOANN will move forward with a strengthened financial foundation, allowing us to invest in customer experience enhancements, our best-in-class product assortments, and our more than 18,000 Team Members nationwide."Scott Sekella, JOANN's Chief Financial Officer and co-lead of the Interim Office of the CEO, added, "We are grateful to our financial and industry stakeholders, whose support enabled us to continue operating smoothly and move through this process on an expedited basis. Their investment not only provides us with additional financial resources, but also reflects their confidence in our Team Members and in our business to seize on the opportunities ahead. With a strengthened balance sheet and improved liquidity, we are better positioned to work collaboratively with our vendors, business partners and landlords, and ultimately to inspire the creativity in our customers that helps them find their happy place."In connection with emergence, JOANN will be a private company owned by certain of the Company's financial stakeholders and industry parties.Additional information regarding JOANN's financial restructuring is available at JOANNforward.com. Court filings and information regarding the claims process are available at <a href="https://cases.ra.kroll.com/Joann">https://cases.ra.kroll.com/Joann</a>, by calling the Company's claims agent, Kroll, at 844-488-7837 (toll-free in the U.S.) or 646-777-2384 (for international calls), or by sending an email to <a href="mailto:joanninfo@ra.kroll.com">joanninfo@ra.kroll.com</a>. Additional information can also be found in a Current Report on Form 8-K that the Company will file with the Securities and Exchange Commission at <a href="http://www.sec.gov/">www.sec.gov</a>.

JOANN Receives Court Approval For Prepackaged Financial Recapitalization Plan; Expects To Successfully Complete Its Financial Restructuring And Emerge From The Court-Supervised Process In The Coming Days

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Thursday, April 25, 2024

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