Latest news for VanEck Long/Flat Trend ETF (ARCA:LFEQ)

VanEck Long/Flat Trend ETF

VanEck Vectors NDR CMG Long/Flat Allocation ETF

Technology

Healthcare

Financial Services

Consumer Cyclical

Industrials

Consumer Defensive

Communication Services

Energy

Real Estate

Utilities

Basic Materials

Other

The Fund normally invests at least 80 percent of its total assets in securities that track or comprise the Funds benchmark index. The NDR CMG Index is a rules-based index that follows a proprietary model developed by Ned Davis Research, Inc. in conjunction with CMG Capital Management Group, Inc. (CMG). To help limit potential loss associated with adverse market conditions, the model produces trade signals that dictate the NDR CMG Indexs equity allocation ranging from 100 percent fully invested (i.e., long) to 100 percent in cash (i.e., flat). When the NDR CMG Index is long, or 100 percent fully invested, it will be allocated to the S&P 500 Index. When the NDR CMG Index is flat, or 100 percent cash, it will be allocated to the Solactive 13-week U.S. T-bill Index. When the NDR CMG Index is not completely long or flat, 50 percent of it will be allocated to the S&P 500 Index, with the remaining 50 percent allocated to the Solactive 13-week U.S. T-bill Index. The Fund currently seeks to replicate the NDR CMG Index when the NDR CMG Index has any equity allocation (as discussed further below) by holding shares of one or more exchange-traded funds (ETFs) whose investment objective is to track the performance of the S&P 500 Index, rather than investing directly in the shares of the 500 companies comprising the S&P 500 Index, until the Fund reaches, in the opinion of the Adviser, an adequate asset size. When the Fund reaches an adequate size and the NDR CMG Index has an equity allocation, the Fund may then seek to replicate the NDR CMG Index by investing directly in the shares of the 500 companies comprising the S&P 500 Index. The Solactive 13-week U.S. T-bill Index invests in one 13-week U.S. Treasury bill at a time, and a maximum of five U.S. Treasury bills in a calendar year. The Fund will track the most recent 13-week U.S. Treasury bill exposure in the Solactive 13-week U.S. T-bill Index to follow the NDR CMG Indexs flat, or cash, allocations.

Vanguard S&P 500 ETF

Long Ideas

News

Broad U.S. Equity ETFs

Specialty ETFs

New ETFs

Markets

Trading Ideas

ETFs

LFEQ

A Dynamic Avenue For Long-Term Asset Allocation

Shares of Affirm Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) spiked in early trading on Friday after the company reported <a href="https://www.benzinga.com/news/earnings/25/02/43546801/affirm-shares-climb-after-q2-report-beats-estimates-strong-fy25-guidance">upbeat fiscal second-quarter results</a>.
The company released its quarterly results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
JMP Securities On Affirm Holdings
Analyst <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/593fe7a785b07a00010be6c2/david-scharf">David Scharf</a> reiterated a Market Outperform rating, while raising the price target from $78 to $85.
Affirm Holdings reported its fiscal second-quarter revenues and earnings significantly ahead of expectations, Scharf said in a note. All the important KPIs were above estimates, he added.
The company reached positive GAAP operating income five months earlier than its "accelerated target that it unveiled just three months ago," the analyst stated. Affirm Holdings appears well positioned to "capitalize on the continued adoption of BNPL (buy now pay later) solutions for everyday purchases and benefits from a more robust loan platform relative to competitors," he further wrote.
RBC Capital Markets On Affirm Holdings
Analyst<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5880b6f377f9dd00011b0ab2/matthew-hedberg"> Daniel Perlin</a> reaffirmed a Sector Perform rating and price target of $67.
Affirm Holdings delivered "strong beats across the board," with GMV around 6% higher than Street expectations, Perlin said. Gain on the sale of loans came in "meaningfully higher," at around $58 million above RBC's estimate, he added.
The company reiterated that it expects to achieve GAAP operating income profitability in the fiscal fourth quarter, the analyst stated. Management guided to full-year GMV between $34.74 billion and $35.34 billion and revenue between $3.13 billion and $3.19 billion, Perlin said.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
JPMorgan On Affirm Holdings
Analyst<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/611bba00b4035700018b67b6/reginald-smith"> Reginald Smith</a> maintained an Overweight rating and price target of $74.
Affirm Holdings recorded GMV (gross merchandise value) and revenue growth of 35% and 47% year-on-year, respectively, both exceeding expectations, Smith said. Management's fiscal third-quarter guidance for GMV and revenue came in-line with consensus, he added.
The company raised its GMV and revenue guidance for the full year by more than the quarterly beat, the analyst stated. "Affirm is firing on all cylinders, delivering premium growth, improving profitability and consistent credit performance." 
Needham On Affirm Holdings
Analyst<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5f22a54029cf490001b01b94/kyle-peterson"> Kyle Peterson</a> reaffirmed a Hold rating on the stock.
Affirm Holdings reported GMV of $10.1 billion, beating consensus of $9.6 billion, and revenue of $866.4 million, surpassing estimate of $807.2 million, Patterson said. The beat was driven mainly by "stronger network revenue and higher gain on sale income." 
Both credit costs and SG&amp;A remained "relatively lean," the analyst stated. Affirm Holdings provided strong guidance for the fiscal third and fourth quarters, reflecting "good execution and ongoing improvement in profitability," Peterson further wrote.
AFRM Price Action: Shares of Affirm Holdings had risen by 19.56% to $73.83 at the time of publication on Friday midday.
Read More:<a href="https://www.benzinga.com/25/02/43485175/amd-alphabet-snap-chipotle-and-tesla-why-these-5-stocks-are-on-investors-radars-today"></a> <a href="https://www.benzinga.com/general/sports/25/02/43446178/mark-cuban-once-said-hed-pick-luka-over-his-wife-now-fans-rage-over-trade-to-lakers">&nbsp;Expedia Posts Strong Results, Joins Affirm Holdings, Take-Two, Cloudflare And Other Big Stocks Moving Higher On Friday</a>
Photo: Shutterstock

Analyst Color

Earnings

Earnings Beats

Price Target

Reiteration

Analyst Ratings

Movers

AFRM

Affirm Holdings Posts Q2 Beat On All Key Indicators - Is Firing On All Cylinders, Analysts Say

Shares of space-to-cloud data and analytics&nbsp;provider Spire Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPIR#NYSE">SPIR</a>) are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">surging on Friday</a>.
Spire Global Canada, a division of Spire Global, has secured a C$72 million ($50.40 million) agreement with the Canadian government to create a satellite <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43560466/canadian-space-agency-assigns-can-72-million-contract-to-spire-global-canada-to-design-wildfiresat" rel="noreferrer noopener">network for tracking wildfires</a>.
Spire will design and build a specialized satellite constellation to track all active wildfires across Canada from space, supporting the country&#8217;s WildFireSat mission.
Spire is collaborating with OroraTech, a in space-based thermal analysis, to develop the payloads for the satellites, which will be essential for wildfire monitoring.
Scheduled for launch in 2029, the WildFireSat mission will be a joint effort with the Canadian Space Agency (CSA) and various government organizations.
The primary objective is to deliver vital data on wildfire dynamics, smoke, and air quality, focusing on the peak burn period when wildfires reach their highest intensity.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43536368/whats-going-on-with-ride-hailing-company-lyfts-stocks-today" rel="noreferrer noopener">Ride-Hailing Company Lyft Partners With AI Firm Anthropic</a>
Spire&#8217;s latest initiative aims to tackle Canada's persistent wildfire challenge and minimize loses, costing the country approximately C$1 billion each year.
The total financial burden is much higher when considering property damage, evacuation expenses, and the effects on industries like forestry and tourism.
In support of the WildFireSat mission, Spire will enhance its Cambridge, Ontario office by adding satellite manufacturing and testing facilities.
Also, Spire and OroraTech have joined forces with the Alexis Nakota Sioux Nation's Wakâ Mne – Science and Culture Initiative to involve Indigenous businesses in the project, generating job opportunities and fostering economic advantages for Indigenous communities as part of the WildFireSat mission.
&#8220;Detecting wildfires is one of the most impactful satellite capabilities, offering significant benefits for public safety, environmental health and the economy,&#8221; said Spire Global CEO Theresa Condor.
Price Action: SPIR shares are trading higher by 10.5% at $20.39 at the last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43523277/volkswagen-unveils-plan-for-e20000-entry-level-electric-car" target="_blank" rel="noreferrer noopener">Volkswagen Unveils Plan For Entry-Level, $20K ID Electric Car: Details</a></li>
</ul>
Photo via Shutterstock.

Equities

Contracts

General

SPIR

Spire Global Lands ~$50M Contract For Canadian Wildfire Detection; Stock Jumps

Investors with a lot of money to spend have taken a bearish stance on Bilibili (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BILI, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Bilibili.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 60%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $26,700, and 9, calls, for a total amount of $535,687.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $14.0 to $19.0 for Bilibili over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Bilibili's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bilibili's whale activity within a strike price range from $14.0 to $19.0 in the last 30 days. 
<h3>Bilibili 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738946790_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/14/25</td>
<td>$1.98</td>
<td>$1.43</td>
<td>$1.56</td>
<td>$17.00</td>
<td>$159.8K</td>
<td>1.0K</td>
<td>1.0K</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$1.61</td>
<td>$1.53</td>
<td>$1.53</td>
<td>$17.00</td>
<td>$72.8K</td>
<td>1.0K</td>
<td>722</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$1.68</td>
<td>$1.58</td>
<td>$1.6</td>
<td>$17.50</td>
<td>$63.8K</td>
<td>2.5K</td>
<td>433</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$3.5</td>
<td>$3.4</td>
<td>$3.4</td>
<td>$18.00</td>
<td>$51.0K</td>
<td>871</td>
<td>16</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/07/25</td>
<td>$1.6</td>
<td>$1.59</td>
<td>$1.6</td>
<td>$17.50</td>
<td>$48.0K</td>
<td>2.5K</td>
<td>733</td>
</tr>
</tbody>
</table>

<h3>About Bilibili</h3>
Bilibili is a Chinese online entertainment platform that is best known for its video-sharing site that resembles YouTube. The site was founded in 2009 and started as a long-form video platform for anime, comics, and gaming, or ACG, content that appealed to Gen Z users. Since then, it has expanded its content on the platform to include a broader range of interests that have attracted Chinese users outside of the Gen Z cohort. The firm generates revenue through five main areas: advertising, games, live streaming, value-added services, and e-commerce.
After a thorough review of the options trading surrounding Bilibili, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Bilibili</h3>
<ul>
<li>Trading volume stands at 5,039,115, with BILI's price up by 4.49%, positioned at $18.87.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 13 days.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bilibili options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

BILI

Unpacking the Latest Options Trading Trends in Bilibili

Financial giants have made a conspicuous bearish move on Enphase Energy. Our analysis of options history for Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) revealed 10 unusual trades.
Delving into the details, we found 10% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $993,228, and 3 were calls, valued at $228,780.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $150.0 for Enphase Energy over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Enphase Energy's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Enphase Energy's whale activity within a strike price range from $60.0 to $150.0 in the last 30 days. 
<h3>Enphase Energy Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738946785_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$84.0</td>
<td>$83.5</td>
<td>$84.0</td>
<td>$150.00</td>
<td>$352.8K</td>
<td align="right">0</td>
<td>60</td>
</tr>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/14/25</td>
<td>$7.05</td>
<td>$6.9</td>
<td>$7.0</td>
<td>$70.00</td>
<td>$175.0K</td>
<td align="right">131</td>
<td>1.0K</td>
</tr>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/14/25</td>
<td>$7.0</td>
<td>$6.9</td>
<td>$7.0</td>
<td>$70.00</td>
<td>$175.0K</td>
<td align="right">131</td>
<td>752</td>
</tr>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/21/25</td>
<td>$8.25</td>
<td>$7.95</td>
<td>$8.1</td>
<td>$60.00</td>
<td>$162.0K</td>
<td align="right">734</td>
<td>226</td>
</tr>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$85.7</td>
<td>$82.95</td>
<td>$84.5</td>
<td>$150.00</td>
<td>$152.1K</td>
<td align="right">0</td>
<td>18</td>
</tr>
</tbody>
</table>

<h3>About Enphase Energy</h3>
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
Having examined the options trading patterns of Enphase Energy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Enphase Energy</h3>
<ul>
<li>Currently trading with a volume of 1,641,469, the ENPH's price is down by -4.84%, now at $63.29. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 74 days.</li>
</ul>
<h3>Professional Analyst Ratings for Enphase Energy</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $69.938.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Enphase Energy with a target price of $66. 
&#x2A; Reflecting concerns, an analyst from GLJ Research lowers its rating to Sell with a new price target of $50. 
&#x2A; Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Enphase Energy, targeting a price of $103. 
&#x2A; Reflecting concerns, an analyst from Truist Securities lowers its rating to Hold with a new price target of $65. 
&#x2A; An analyst from Piper Sandler has decided to maintain their Neutral rating on Enphase Energy, which currently sits at a price target of $65. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Enphase Energy with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

ENPH

What the Options Market Tells Us About Enphase Energy

Whales with a lot of money to spend have taken a noticeably bullish stance on Cleveland-Cliffs.
Looking at options history for Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $295,673 and 4, calls, for a total amount of $811,128.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $19.0 for Cleveland-Cliffs over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Cleveland-Cliffs stands at 2446.29, with a total volume reaching 70,170.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cleveland-Cliffs, situated within the strike price corridor from $10.0 to $19.0, throughout the last 30 days.
<h3>Cleveland-Cliffs 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738946780_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$1.01</td>
<td>$0.97</td>
<td>$1.0</td>
<td>$15.00</td>
<td>$500.0K</td>
<td>2.3K</td>
<td>55.0K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$1.06</td>
<td>$1.06</td>
<td>$1.06</td>
<td>$15.00</td>
<td>$119.8K</td>
<td>2.3K</td>
<td>1.1K</td>
</tr>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$5.65</td>
<td>$5.6</td>
<td>$5.6</td>
<td>$15.00</td>
<td>$101.9K</td>
<td>367</td>
<td>182</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$1.08</td>
<td>$1.02</td>
<td>$1.03</td>
<td>$15.00</td>
<td>$101.2K</td>
<td>2.3K</td>
<td>2.2K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$0.13</td>
<td>$0.1</td>
<td>$0.11</td>
<td>$12.00</td>
<td>$89.9K</td>
<td>13.6K</td>
<td>10.0K</td>
</tr>
</tbody>
</table>

<h3>About Cleveland-Cliffs</h3>
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
<h3>Present Market Standing of Cleveland-Cliffs</h3>
<ul>
<li>Trading volume stands at 3,699,595, with CLF's price down by -0.47%, positioned at $10.61.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 17 days.</li>
</ul>
<h3>Expert Opinions on Cleveland-Cliffs</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $11.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Cleveland-Cliffs, targeting a price of $11. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cleveland-Cliffs with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Market Whales and Their Recent Bets on CLF Options

Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) has outperformed the market over the past 5 years by 9.09% on an annualized basis producing an average annual return of 21.51%. Currently, Walmart has a market capitalization of $818.68 billion. 
Buying $100 In WMT: If an investor had bought $100 of WMT stock 5 years ago, it would be worth $265.28 today based on a price of $101.91 for WMT at the time of writing.
<h3>Walmart's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738946708_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Walmart Stock In The Last 5 Years

<a href="https://news.bloomberglaw.com/ip-law/musks-doge-descends-on-consumer-financial-protection-bureau" title="https://news.bloomberglaw.com/ip-law/musks-doge-descends-on-consumer-financial-protection-bureau">https://news.bloomberglaw.com/ip-law/musks-doge-descends-on-consumer-financial-protection-bureau</a>

Macro Economic Events

Politics

Economics

'Musk's DOGE Descends On CFPB With Eyes On Shutting It Down' - Bloomberg Law

Prairie Operating Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROP#NASDAQ">PROP</a>) is seeing a plunge in its stock price on Friday following the announcement of a<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43555421/prairie-operating-co-announces-acquisition-of-dj-basin-assets-from-bayswater-exploration-and-produ" rel="noreferrer noopener"> public offering and an acquisition.</a>
The company revealed it is conducting an underwritten public offering of $200 million in common stock, with the possibility of an additional $30 million in shares through a<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43555939/prairie-operating-co-announces-public-offering-of-common-stock" rel="noreferrer noopener"> 30-day option for the underwriters.</a>
The funds raised from this offering will primarily be used to finance the company&#8217;s acquisition of oil and gas assets from Bayswater Exploration and Production and its affiliates.
The deal, termed as the Bayswater Acquisition, comes with a price tag of $602.75 million and will significantly bolster Prairie&#8217;s presence in the Denver-Julesburg Basin.
Also Read: <a target="_blank" href="http://benzinga.com/25/02/43563442/this-nike-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-friday-2" rel="noreferrer noopener">This Nike Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday</a>
The transaction consideration will consist of cash and up to ~5.2 million shares of Prairie common stock. Prairie anticipates funding the cash portion of the consideration, net of expected purchase price adjustments, through a combination of cash on hand and borrowings under its expanded credit facility and proceeds from one or more capital markets transactions.
Prairie aims to complete the acquisition by February 2025, with an effective date of December 1, 2024.
Following the acquisition, Prairie expects a transformational increase in its oil-weighted production, reaching around 27,500 net barrels of oil equivalent per day, with 69% of that being liquids.
The company also anticipates significant free cash flow generation, with adjusted EBITDA projected to range between $350 million and $370 million for 2025.
This acquisition is seen as a strategic move to drive sustainable growth and enhance operational efficiencies.
Price Action: PROP shares are trading lower by 27.1% to $6.296 at last check Friday.
Read This Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43558786/how-to-earn-500-a-month-from-mcdonalds-stock-ahead-of-q4-earnings" target="_blank" rel="noreferrer noopener">How To Earn $500 A Month From McDonald&#8217;s Stock Ahead Of Q4 Earnings</a></li>
</ul>
Photo via Shutterstock.

PROP

Why Is Prairie Operating Stock Falling Today?

IPOs

TTAM

Titan America SA Shares Open For Trade At $16.2/Share; IPO Priced At $16/Share On 24M Shares

The Super Bowl Indicator has been a nonscientific predictor of how the S&amp;P 500 will fare based on which team wins <a href="https://www.benzinga.com/topic/super-bowl">the Super Bowl.</a>
Here's a look at the indicator and why past history shows that bulls may be rooting against the gauge this year.
What Happened: The Super Bowl Indicator was coined by New York Times sportswriter Leonard Koppett in 1978. Based on Koppett's indicator, bulls will be rooting for the Philadelphia Eagles to beat the Kansas City Chiefs in <a href="https://www.benzinga.com/general/sports/25/02/43480342/chiefs-chase-historic-super-bowl-three-peat-and-nba-legend-stands-to-gain">Super Bowl LIX.</a>
Koppett predicted that an NFC team winning the Super Bowl would indicate a bull market and a win by an AFC team would indicate a bear market. This was based on the indicator being right for years before he coined the term.
For years, the Super Bowl Indicator was pretty accurate, but in recent years hasn't produced the same winning results. This means bulls may actually want to root for the Chiefs to complete their "three-peat" and be the first team to win three straight Super Bowls.
Read Also: <a href="https://www.benzinga.com/general/sports/25/02/43560232/super-bowl-lix-commercials-ai-celebs-muppets-warren-buffett-linked-brand-take-the-spotlight">Super Bowl LIX Commercials: AI, Celebs, Muppets, Warren Buffett-Linked Brand Take The Spotlight</a>
Why Wall Street Is Rooting For Chiefs: Ryan Detrick, chief market strategist at Carson Group <a href="https://x.com/RyanDetrick/status/1887159130315747677">shared </a>several data points that point to Wall Street rooting for a Chiefs win.
For starters, stocks have been up 12 of the past 13 times an AFC team won, which reverses the very thesis of the Super Bowl Indicator.
Detrick also points out that teams from Philadelphia winning a World Series or Super Bowl leads to bad things for the stock market.
Here is a list of the last World Series (Philadelphia Athletics, Philadelphia Phillies) and Super Bowl (Philadelphia Eagles) wins by Philadelphia teams and what <a href="https://x.com/RyanDetrick/status/1887160788353483122">happened</a>.
<ul>
<li>1910: Athletics – Panic of 1910-1911, 25% bear market</li>
<li>1911: Athletics – Panic of 1910-1911, all 12 months recession</li>
<li>1913: Athletics – Another recession</li>
<li>1929: Athletics – Crash of 1929</li>
<li>1930: Athletics – The Great Depression</li>
<li>1980: Phillies – Double dip recession of early 1980s</li>
<li>2008: Phillies – The Financial Crisis</li>
<li>2018: Eagles – Stocks worst year since 2008</li>
</ul>
While stocks had one of their worst years in recent history when the Eagles won in 2018, the recent success of the Chiefs has turned into strong market returns.
The Chiefs have four Super Bowl wins and the S&amp;P 500, which is tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has <a href="https://x.com/RyanDetrick/status/1887159379432239139">averaged </a>a 15.9% return when they win the Super Bowl. This ranks fifth of the 22 Super Bowl winning teams, while the Eagles rank 17th.
The three most recent Chiefs wins and the S&amp;P 500 returns are below:
<ul>
<li>2020: +16.3%</li>
<li>2023: +24.2%</li>
<li>2024: +23.3%</li>
</ul>
Freedom Capital Markets chief global strategist Jay Woods said the Super Bowl Indicator is a "fun but flawed piece of trivia." He said the recent success of the Patriots and Chiefs has evened out the indicator for the AFC and NFC.
"As for this matchup and market correlation, the Chiefs may be the choice of the bulls. In the six years they have appeared in the big game the market is up five of those six times with the only decline being after their 1970 victory in which the market fell by a measly -0.1%. The average annual gain after a Chiefs appearance is 18.45%," Woods wrote in his weekly <a href="https://jaywoods.substack.com/">newsletter</a>.
Woods, who is an Eagles fan, said the market is not a fan when his favorite NFL team goes to the Super Bowl.
"In their four appearances the average return in the S&amp;P 500 is 4.02%. Their lone victory came in 2018 and the market sold off a total of 10% in the week before and after their victory. The market was lower for the year by -6.2%."
Other Data Points: One data point from <a href="https://x.com/RyanDetrick/status/1887158923142271142">Detrick </a>that would have Wall Street rooting for an Eagles win is the overall Super Bowl history. Detrick noted that of the 58 Super Bowls, the AFC and NFC have each won 29 games. The average S&amp;P 500 return is 9.1% with 42 years up and 16 years down.
When an NFC team wins, the average return is 10.0% with 22 years up and seven years down, good for 75.9% of NFC winning years producing positive returns.
When an AFC team wins, the average return is 8.1%, with 20 years up and nine years down, good for 69.0% of AFC winning years producing positive returns.
For those who don't care who wins the Super Bowl, but still want strong market returns, there's an angle there as well. Bulls should root for a <a href="https://x.com/RyanDetrick/status/1887159576614879387">blowout </a>in the Super Bowl.
The average return for the S&amp;P 500 is 9.1% in the Super Bowl era. Here's a look at how the winning margin of the Super Bowl impacts returns.
<ul>
<li>21 point win or more: S&amp;P 500 up 13.6%</li>
<li>Double digit win or more: +10.9%</li>
<li>Single digit win: +6.5%</li>
</ul>
The S&amp;P 500 was higher 84.6% of the time when a Super Bowl had a win by 21 or more points, compared to 79.4% of the time with a double digit win and 62.5% of the time with a single digit win.
The last two double-digit Super Bowl wins were in 2021 and 2014 with the S&amp;P 500 up 26.9% and 11.4% respectively.
Adding everything up would mean that bulls would be rooting for the Kansas City Chiefs to win by 21 points or more.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports/25/02/43548933/exclusive-super-bowl-lix-viewers-more-excited-about-nfl-game-kendrick-lamar-commercials-or-taylor-swift-63-say">EXCLUSIVE: Super Bowl LIX Viewers More Excited About NFL Game, Kendrick Lamar, Commercials Or Taylor Swift? 63% Say… </a></li>
</ul>
Photo: Shutterstock

Sports

Super Bowl Indicator: Why Wall Street Is Rooting For This Team In Chiefs Vs. Eagles Matchup

Keefe, Bruyette &amp; Woods analyst Sanjay Sakhrani maintains WEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEX#NYSE">WEX</a>) with a Outperform and lowers the price target from $220 to $200.

Keefe, Bruyette & Woods Maintains Outperform on WEX, Lowers Price Target to $200

Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) has <a href="https://www.benzinga.com/content/43420103/why-nike-stock-could-be-2025s-top-comeback-play">struggled in recent years</a>. 
New CEO Elliott Hill discussed his attempted turnaround of the Beaverton, Oregon-based company with <a href="https://www.benzinga.com/topic/wall-street">Wall Street analysts</a> on Thursday. Here&#8217;s what analysts published after the meeting:
<ul>
<li>Goldman Sachs analyst Brooke Roach, who holds a Buy rating with a price target of $91.</li>
<li>JPMorgan analyst Matthew R. Boss, who holds a Neutral rating with a price target of $73.</li>
</ul>
Main Takeaways: Roach says the conversation centered around Nike&#8217;s company culture, sports, innovation and marketing.
&#8220;Management highlighted innovation remains a key priority and that they are comfortable with the team in place and the speed at which they are working&#8230; By category, the company spoke to prioritizing running (given emerging competitive threats), followed by football, basketball, training and sportswear,&#8221; the analyst said.
Hill and company executives also said that they plan to increase marketing expenses to around 10% of sales. Executives also plan to turn around the company&#8217;s culture, noting that previous management focused too much on technology rather than sports.
Boss noted that management commentary emphasized that plans are long-term in nature. Nike plans to liquidate inventory through price decreases, which will compress margins in the short term. Later, the company plans to transition its business model to prioritize full-price items instead of discounts.
The analyst also noted other geographic headwinds.
&#8220;&#8230;we see continued revenue pressure into 1H26 in particular associated with the "annualization" of strategic actions across different geographies (= JPMe FY26 revenues -2.4% Y/Y &lt; Street +1.7% Y/Y), with N. America and Greater China (= combined 56% of sales mix) in our view the furthest behind on rebalancing the product portfolio and repositioning the Nike Digital segment to full price,&#8221; Boss said.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/25/02/43564020/consumer-sentiment-sinks-economist-flags-unusually-large-rise-in-inflation-perception">Consumer Sentiment Sinks In February: Economist Flags &#8216;Unusually Large&#8217; Rise In Inflation Perception</a></li>
</ul>
Image: Shutterstock

Retail Sales

New Nike CEO Sets Sights On Innovation, Ups Marketing Expenses To '10% Of Sales'

WIIM

MGNI

Magnite shares are trading higher following a report indicating X signed a partnership with the company.

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains Tradeweb Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TW#NASDAQ">TW</a>) with a Outperform and lowers the price target from $150 to $145.

Keefe, Bruyette & Woods Maintains Outperform on Tradeweb Markets, Lowers Price Target to $145

Rumors

TXRH

Watching Texas Roadhouse; Shares See Volume To The Upside As Traders Circulate Unformed Rumors A Popular Trading TV Host Added A Position In The Stock

JMP Securities analyst Nicholas Jones reiterates Expedia Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) from Market Perform to Market Perform.

EXPE

JMP Securities Reiterates Market Perform on Expedia Groupto Market Perform

<h2 class="wp-block-heading">New On The Block</h2>
PharmChem, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PCHM#OTC">PCHM</a>), the go-to name for drug-detecting sweat patches, is officially exploring strategic alternatives (i.e., mergers, acquisitions, or an outright sale). So far, the board of directors expressed confidence that it can handle things solo as opposed to hiring a banker. For interested suitors, a <a href="https://www.benzinga.com/topic/mergers-and-acquisitions">data room officially opened</a>.
Other auction block items this week:
<ul>
<li>Ontario Teachers&#8217; Pension Plan tapped Lazard to run a sale process for compliance software firm Mitratech. Reuters estimates that the transaction could hover around $4 billion.</li>
<li>Recall how Paysafe (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSFE#NYSE">PSFE</a>) went public <a href="https://www.benzinga.com/news/20/12/18678982/paysafe-goes-public-again-in-spac-deal-what-investors-should-know">via a SPAC in 2020</a>. Today, it&#8217;s for sale, according to <a href="https://www.bloomberg.com/news/articles/2025-02-06/paysafe-is-said-to-weigh-sale-after-getting-takeover-interest?srnd=phx-deals">Bloomberg</a>. The firm, backed by billionaire Bill Foley, is receiving takeover interest.</li>
<li>Switzerland-based Bank J. Safra Sarasin is weighing a takeover offer for Denmark&#8217;s Saxo Bank, per <a href="https://www.bloomberg.com/news/articles/2025-02-03/safra-sarasin-is-said-to-explore-deal-for-denmark-s-saxo-bank?srnd=phx-deals">Bloomberg</a>.</li>
</ul>
<h2 class="wp-block-heading">Updates From The Block</h2>
<ul>
<li>Veritas Capital is circling Wall Street data provider Dun &amp; Bradstreet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNB#NYSE">DNB</a>), per <a href="https://www.bloomberg.com/news/articles/2025-02-07/veritas-is-said-in-talks-to-acquire-data-firm-dun-bradstreet?srnd=phx-deals">Bloomberg</a>. Dun &amp; Bradstreet boasts a $4.9 billion market cap.</li>
<li>Bausch + Lomb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) considered &#8220;a full separation&#8221; from Bausch Health Companies Inc. After engaging with potential buyers, that process did not result in a deal. Full separation remains the goal, the company confirmed. Full-year 2024 earnings will be posted on Feb. 19.</li>
<li>KKR &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) is adamant about buying Japanese tech group Fuji Soft. The private equity firm upped its offer to around $4.3 billion to outbid a rival firm, Bain Capital.</li>
<li>Bain has another deal in the works, should the Fuji Soft one not work out. The firm is close to buying the pharma unit of Mitsubishi Chemical Group (TYO:<a class="ticker" href="https://www.benzinga.com/stock/TYO:4188#TYO">4188</a>). The price tag is expected to be north of $3.3 billion, according <a href="https://www.bloomberg.com/news/articles/2025-02-06/bain-is-said-to-near-3-billion-deal-for-mitsubishi-pharma-unit?srnd=phx-deals">to</a> Bloomberg.</li>
</ul>
<h2 class="wp-block-heading">Off The Block</h2>
<ul>
<li>Meanwhile, Bain Capital <a href="https://www.plasticsnews.com/news/hillenbrand-sells-majority-stake-milacron-bain-capital-287m">agreed</a> to buy a 51% stake in Milacron, a provider of plastic processing equipment and services. Hillenbrand (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HI#NYSE">HI</a>) sold the stake for $287 million. </li>
<li>Riverwood Capital agreed to <a href="https://en.globes.co.il/en/article-riverwood-capital-buys-israeli-ai-pricing-co-quicklizard-1001501462">buy</a> Munich-based Quicklizard (TASE: QLRD), a pricing platform for retailers and brands, for roughly $52 million.</li>
<li>TPG <a href="https://www.benzinga.com/25/02/43537313/why-altus-power-stock-is-gaining-today">agreed to buy</a> Altus Power (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMPS#NYSE">AMPS</a>), an owner of commercial-scale solar in the U.S., for around $2.2 billion.</li>
<li>Another solar-related deal: Turn/River Capital agreed to buy Austin, Texas-based SolarWinds (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWI#NYSE">SWI</a>) for $4.4 billion — a 35% premium to the stock&#8217;s closing price on Thursday, Feb. 6.</li>
<li>Montreal-basedValsoft, a software firm backed by Coatue Management and Viking Global Investors, acquired VHL Sistemas, a Brazilian provider of cloud-based notary management software.</li>
<li>BCI, a Canadian asset management, agreed to buy Luxembourg-based investment BBGI Global Infrastructure (LSE: BBGIB). Reuters reported that the deal cost around 1 billion pounds ($1.24 billion).</li>
<li>EP Global Commerce, backed by billionaire Daniel Kretinsky, <a href="https://www.bloomberg.com/news/articles/2025-02-06/czech-billionaire-kretinsky-seeks-to-take-metro-private-again?srnd=phx-deals">purchased</a> Düsseldorf, Germany-based Metro at a 2 billion euro ($2.76 billion) valuation. </li>
<li>Databricks, valued at $62 billion, <a href="https://www.infoworld.com/article/3817328/databricks-acquires-bladebridge-to-aid-data-warehouse-migrations.html">acquired</a> BladeBridge and its talent to bolster enterprise data warehouse migrations.</li>
<li>JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) reportedly revived its interest in buying Düsseldorf, Germany-based Ceconomy AG. The Chinese e-commerce giant last showed interest in the <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43496221/jd-coms-stock-dips-as-ceconomy-deal-heats-up-in-germany-is-the-e-commerce-king-eyeing-expansion">German retailer in 2023</a>.</li>
<li>Nissan Motor Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) CEO Makoto Uchida informed Honda Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) CEO Toshihiro Mibe of his intention to terminate discussions <a href="https://www.benzinga.com/markets/asia/25/02/43517930/nissan-ceo-seeks-to-end-honda-merger-talks-report">on a potential merger</a>.</li>
<li>Brookfield completed its $1.7 billion acquisition of Houston-based Chemelex, a provider of electric thermal and sensing solutions. Goldman Sachs advised nVent Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>) on the sell side.</li>
<li>Court Square Capital Partners and WindRose Health Investors completed a $1.1 billion buyout of Frisco, Texas-based infusion company Soleo Health. H.I.G. Capital.</li>
</ul>
<h2 class="wp-block-heading">Bankruptcy Block</h2>
Judge Christopher Lopez has rejected a deal that would have facilitated a second auction attempt for Alex Jones&#8216; media company, Infowars. This ruling, as reported by <a href="https://www.npr.org/2025/02/05/g-s1-46738/infowars-alex-jones-onion-bankruptcy-judge-sandy-hook">NPR</a>, provides another temporary reprieve for Jones, but delays the Sandy Hook families' efforts to collect the $1.3 billion in defamation damages awarded nearly seven years ago.
Lopez explained he couldn&#8217;t approve the deal because Infowars&#8217; parent company, Free Speech Systems (FSS), is no longer in bankruptcy. That means, he rules, its assets cannot be sold—only Jones&#8217; ownership stake in the company can be auctioned. And yet, the judge also blocked <a href="https://www.benzinga.com/media/24/11/41982446/jokes-on-jones-onion-backed-by-families-of-sandy-hook-victims-buys-info-wars">a previous offer</a> from satirical website The Onion, which had partnered with the Connecticut families to bid on Infowars. 
Moving forward, Lopez emphasized that any asset sale must be a straightforward cash deal. With this latest decision, the path to recovering damages—and potentially dismantling Jones' platform—remains uncertain.
TGI Fridays has sold 19 more restaurants as part of its ongoing Chapter 11 bankruptcy proceedings.&nbsp;Fremont, California-based Yadav Enterprises, an operator of 340 restaurants across six brands, is <a href="https://www.restaurantbusinessonline.com/financing/tgi-fridays-sells-19-restaurants-out-bankruptcy">buying</a> 16 stores for $3 million in debt. Sugarloaf Hospitality, a firm owned by former TGI Fridays CEO Ray Blanchette, is acquiring three locations for $100,000.
<h2 class="wp-block-heading">Notes From The Block</h2>
Scale Vs. Scope: This week, Bain Capital pointed out a trend in the media sector.
Media deals are becoming &#8220;predominantly cross-industry.&#8221; According to Bain&#8217;s <a href="https://www.bain.com/insights/media-and-entertainment-m-and-a-report-2025/">analysis</a>, using data from Dealogic, more than half of all media industry M&amp;A for the first three quarters of 2024 involved either a target or acquirer outside of their industry.
Here are a few callouts, cited by Bain partners Nicole Magoon, Matt Keith and Alex Egan:
<ul>
<li>The majority of Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) transactions used to be &#8220;scale&#8221; (i.e., Pixar in 2006 and 21st Century Fox in 2019); today, there&#8217;s an &#8220;increasing emphasis on scope deals.&#8221; For example, last year, Disney invested in Epic Games, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41052867/disneys-streaming-surge-epic-games-deal-among-key-growth-drivers-says-analyst">the maker of Fortnite</a>.</li>
<li>Sony Group Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) <a href="https://www.benzinga.com/general/entertainment/24/06/39313096/sony-steps-into-theater-business-with-alamo-drafthouse-purchase">purchased the theater-dinner chain</a> Alamo Drafthouse.</li>
<li>Companies are also doing deals for evergreen IP: Sony Music bought half of Michael Jackson's <a href="https://www.benzinga.com/general/entertainment/24/08/40515995/michael-jacksons-1-5b-catalog-lands-court-approval-for-sale-thriller-for-sony">publishing and recorded music catalog</a>.</li>
<li>Pophouse Entertainment acquired Kiss's catalog as well as <a href="https://www.benzinga.com/general/entertainment/24/04/38116031/sealed-with-a-kiss-rock-band-sells-legacy-for-300m-who-did-gene-simmons-get-into-bed-with">the band members' likenesses</a>. </li>
<li>Private equity funds have invested in smaller production studios with a track record of quality IP. For example, Redbird bought All3Media, seeking an enduring advantage in the video space.</li>
</ul>
Is there risk? &#8220;Acquirers in cross-sector media M&amp;A quickly learn that such deals require a different type of diligence,&#8221; the Bain partners say. &#8220;For one thing, an acquirer is likely to be less familiar with the target's industry. Also, the revenue synergies inherent in scope deals are harder to realize and underwrite than cost synergies.&#8221;
For last week&#8217;s <a href="https://www.benzinga.com/news/global/25/01/43402048/deal-dispatch-sage-and-silvus-are-up-for-sale-mrbeast-secures-20b-for-tiktok">Deal Dispatch, click here</a>.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/real-estate/25/02/43535187/gwyneth-paltrow-sells-la-home-for-22m-heres-a-look-at-actor-turned-business-moguls-pricy-property-portfolio">Gwyneth Paltrow Sells LA Home For $22M. Here&#8217;s A Look At Actor-Turned-Business-Mogul&#8217;s Pricy Property Portfolio</a></li>
</ul>
Image created using a photo from Shutterstock.

Entertainment

Asset Sales

Media

AMPS

BLCO

GRAB

NSANY

PCHM

PSFE

Sony Group Corporation American Depositary Shares

SONY

TYO:4188

Deal Dispatch: PharmChem Forgoes Banker To Run Sale, TGI Fridays Sells 19 Restaurants For $3.1 Million

JMP Securities analyst Jason Butler reiterates Cytokinetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYTK#NASDAQ">CYTK</a>) with a Market Outperform and maintains $78 price target.

CYTK

JMP Securities Reiterates Market Outperform on Cytokinetics, Maintains $78 Price Target

Keefe, Bruyette &amp; Woods analyst Bose George maintains Stewart Information Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STC#NYSE">STC</a>) with a Market Perform and raises the price target from $74 to $75.

Keefe, Bruyette & Woods Maintains Market Perform on Stewart Information Servs, Raises Price Target to $75

JMP Securities analyst Patrick Walravens reiterates Sprinklr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXM#NYSE">CXM</a>) with a Market Outperform and maintains $17 price target.

JMP Securities Reiterates Market Outperform on Sprinklr, Maintains $17 Price Target

Press Releases

VanEck Announces Year-End Distributions for VanEck Equity ETFs

BUZZ

CNXT

CRAK

DAPP

DESK

DGIN

EINC

ESPO

GDXJ

GLIN

GMET

IBOT

ISRA

RAAX

REMX

RNEW

SMHX

SMOG

Knowing when to be fully allocated to stocks and when to lower equity allocations while raising cash can vex even the most seasoned investors. A new exchange-traded fund helps with those burdens.
The VanEck Vectors NDR CMG Long/Flat Allocation ETF (NYSE:<a class="ticker" href="/stock/LFEQ#NYSE">LFEQ</a>) debuted Thursday. The new ETF tracks the Ned Davis Research CMG US Large Cap Long/Flat Index, which follows a rules-based methodology that dictates long exposure in the S&amp;P 500, no equity exposure and being allocated to T-bills or reduced exposure to the S&amp;P 500.
&ldquo;The Index&rsquo;s equity exposure is provided by the S&amp;P 500 Index,&rdquo; <a href="http://www.businesswire.com/news/home/20171005005203/en/VanEck-Teams-Ned-Davis-Research-Launch-LongFlat">according to a statement from VanEck</a>. &ldquo;Cash exposure is provided by the Solactive 13-week U.S. T-bill Index. The index may rebalance intra-month based on signals from the model. LFEQ will allocate to S&amp;P 500 equities (through ETFs initially) and/or U.S. T-bills.&rdquo;&nbsp;
<h3>All In</h3>
The VanEck Vectors NDR CMG Long/Flat Allocation ETF debuts fully allocated to the S&amp;P 500, exposure that is obtained via the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="/stock/VOO#NYSE">VOO</a>).
Related Link: <a href="https://www.benzinga.com/trading-ideas/long-ideas/17/10/10143257/investors-keep-loving-this-etf">Investors Love This ETF</a>
LFEQ&#39;s underlying index &ldquo;follows a proprietary model developed by NDR and CMG Capital Management Group, Inc. (CMG). The model produces trade signals that dictate the Index&rsquo;s equity allocation (100 percent, 80 percent, 40 percent, or 0 percent) and/or cash (U.S. T-bills) allocation,&rdquo; according to the statement.
In other words, if the index is not all in with VOO or T-bills, either 80 percent or 40 percent will be allocated to VOO with the remainder devoted to the aforementioned Solactive T-bill index.
<h3>History Lesson</h3>
&ldquo;Many investors make an allocation to U.S. equity for the long-term growth potential, but most may not realize that since 1928 the S&amp;P 500 has spent 70 percent of the time either in a bear market or recovering from one. That&rsquo;s not a lot of time spent growing new wealth,&quot; said Ed Lopez, head of ETF product management at VanEck, in the statement. &ldquo;Your experience really depends on where in the market cycle you start investing. LFEQ provides investors with an ETF solution that offers a systematic approach that seeks to preserve capital by increasing cash when market health is weak, and participate in uptrends with a full allocation to equity.&rdquo; 
LFEQ charges 0.59 percent per year, or $59 on a $10,000 investment.
Related Link: <a href="https://www.benzinga.com/trading-ideas/long-ideas/17/10/10143157/an-ideal-time-for-small-cap-compensation">Small-caps And Dividends</a>

Comments

VanEck Long/Flat Trend ETF

News

Latest news for VanEck Long/Flat Trend ETF (ARCA:LFEQ)

Friday, October 06, 2017

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga