Latest news for Landsea Homes (NASDAQ:LSEAW) Stock

Landsea Homes Corp is a homebuilding company. It designs and builds homes and sustainable master-planned communities in some of the nation's desirable markets. The company's segments include Arizona, California, Florida, Metro New York, and Texas. It derives a majority of revenue from home sales in Florida.

Landsea Homes Corp

Temu parent PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40548324/pdd-holdings-announces-second-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">fiscal second-quarter 2024</a> revenue growth of 86% year-on-year to $13.36 billion (97.06 billion Chinese yuan), missing the&nbsp;analyst consensus estimate of $14.02 billion.
The Chinese online retailer&#8217;s adjusted earnings per ADS of $3.20 (23.24 Chinese yuan) increased from 10.47 Chinese yuan Y/Y, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $2.73</a>.&nbsp;The stock plunged after the print.
Revenues from online marketing services and others rose 29% Y/Y to $6.76 billion. Revenues from transaction services jumped 234% Y/Y to $6.6 billion.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40251560/amazon-boosts-recruitment-efforts-in-china-targets-rivalry-with-temu-report" rel="noreferrer noopener">Amazon Boosts Recruitment Efforts In China, Targets Rivalry With Temu: Report</a>
The&nbsp;Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) rival posted an adjusted operating profit of $4.81 billion, up 139% year over year.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/26065524/newplot-1-7.png" alt="" class="wp-image-513229" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/26065524/newplot-1-7.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/26065524/newplot-1-7-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
PDD Holdings held $39.2 billion in cash and equivalents as&nbsp;of June 30, 2024, and generated $6.03 billion in operating cash flow.
&#8220;While encouraged by the solid progress we made in the past few quarters, we see many challenges ahead,&#8221; said Mr. Lei Chen, Chair and Co-CEO of PDD Holdings.
&#8220;In the past quarter, our revenue growth rate slowed quarter-on-quarter. Looking ahead, revenue growth will inevitably face pressure due to intensified competition and external challenges,&#8221; said Ms. Jun Liu, VP of Finance of PDD Holdings. &#8220;Profitability will also likely be impacted as we continue to invest resolutely.&#8221;
PDD Holdings stock is up over 73% in the last 12 months.
Price Action: PDD stock traded lower by 14.70% to $119.35 premarket at the last check on Monday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40390854/alibaba-q1-earnings-revenue-miss-amid-price-war-profit-beat-international-commerce-and-cloud-segmen" target="_blank" rel="noreferrer noopener">Alibaba Q1 Earnings: Revenue Miss Amid Price War, Profit Beat, International Commerce and Cloud Segments Shine</a></li>
</ul>
Photo via Shutterstock

Earnings

News

Guidance

Emerging Markets

Movers

Tech

BABA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Temu Parent PDD Posts 86% Q2 Topline Growth, Stock Drops After CEO Flags Upcoming Challenges

Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) analysts reportedly lowered the global oil <a target="_blank" href="https://www.benzinga.com/topic/oil" rel="noreferrer noopener">demand growth forecast for 2024</a>.
The bank cited slower economic growth in China, increased electric vehicle adoption, and a rise in LNG-powered trucks in the country, reported Reuters.
In particular, the bank reduced its 2024 global oil demand growth forecast to 1.1 million barrels per day (mbpd) from 1.2 mbpd.
Morgan Stanley also lowered its Brent price forecast, expecting prices to average $80 per barrel in the fourth quarter, down from the previous estimate of $85 per barrel.
As per the report, Brent crude traded around $78 per barrel on Friday, while U.S. West Texas Intermediate <a target="_blank" href="https://www.benzinga.com/24/08/40334193/brent-crude-oil-faces-demand-concerns-despite-recent-gains" rel="noreferrer noopener">crude futures were at $74.52</a>.
Analysts noted that China&#8217;s shift to LNG trucks has reduced oil demand growth by 100-150 kbd, and EV adoption has displaced about 100 kbd of gasoline demand.
The oil market is tight, with inventories down by 1.2 million barrels per day over the past four weeks. Morgan Stanley analysts expect this trend to continue through the third quarter.
Recently, the Organization of the Petroleum Exporting Countries (OPEC) revised its global oil demand growth estimate for 2024 to 1.78 million barrels per day (mb/d), which is down from the <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/08/40313301/oil-prices-eye-fourth-straight-day-of-gains-as-geopolitical-risks-overshadow-opecs-cooler-demand-f" rel="noreferrer noopener">previous projection of 1.85 mb/d.</a>
For 2025, OPEC lowered oil demand growth globally to 2.11 mb/d vs. the prior estimate of 2.25 mb/d.
OPEC stated, &#8220;This slight revision reflects actual data received for the first quarter of 2024 and, in some cases, the second quarter, as well as reduced expectations for China&#8217;s oil demand growth in 2024.&#8221;&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Media

Morgan Stanley Slashes Global Oil Demand Growth Forecast For 2024: Report

According to billionaire entrepreneur Elon Musk, aircraft companies will not dominate the space industry, similar to how car makers cannot dominate the aircraft business. Musk was referring to aircraft manufacturer Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), which also makes space systems.
What Happened: &#8220;Just as the car companies did not dominate the medium of air (they tried), the aircraft companies will not dominate the medium of space,&#8221; Musk wrote in response to an X user, referring to Boeing&#8217;s hardships with their space segment.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Arguably, a natural turn of events. Just as the car companies did not dominate the medium of air (they tried), the aircraft companies will not dominate the medium of space.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827913440872009912?ref_src=twsrc%5Etfw">August 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Car Companies That Tried To Enter Air Transport: Several automakers have entered the air transport segment with not much success including Mighigan-based automaker Ford. The automaker made 199 Trimotor aircraft before it closed its airplane division in 1933 because of poor sales.
Other automakers to have forayed into aircraft manufacturing include Honda, Fiat, and Mitsubishi. 
Boeing Starliner Troubles: NASA announced on Saturday that it would return the two astronauts who went to space via Boeing&#8217;s Starliner spacecraft –&nbsp;Sunita Williams&nbsp;and&nbsp;Butch Wilmore&nbsp;– <a href="https://www.benzinga.com/news/24/08/40546859/boeings-former-ceo-dennis-muilenburg-said-in-2017-his-company-will-beat-elon-musk-to-mars-7-years-la">via a SpaceX vehicle in February</a>. The Starliner spacecraft would return to Earth autonomously in early September, the agency said, citing its commitment to safety.
Williams and Wilmore launched into space on June 5 aboard&nbsp;Boeing's Starliner spacecraft. Though the two were supposed to return in about eight days, technical issues identified with the spacecraft while docking delayed the return journey, and now the agency has decided to scrap bringing the astronauts back on the Boeing spacecraft altogether.
Musk Expresses Optimism For Boeing&#8217;s Future: Musk on Saturday&nbsp;<a href="https://www.benzinga.com/news/24/08/40542418/elon-musk-lauds-new-boeing-ceo-after-nasa-picks-spacex-to-return-starliner-crew-this-is-the-right-th" target="_blank" rel="noreferrer noopener">expressed optimism for the future of Boeing</a>&nbsp;despite the setback.
"The new Boeing CEO is spending time in the factories. That is the right thing to do," Musk said. The new Boeing CEO,&nbsp;Kelly Ortberg,&nbsp;<a href="https://www.benzinga.com/news/24/08/40282460/boeings-new-ceo-kelly-ortberg-shifts-base-to-seattle-amid-airplane-makers-safety-crisis" target="_blank" rel="noreferrer noopener">took the reins of the company</a>&nbsp;from&nbsp;Dave Calhoun&nbsp;earlier this month.
Boeing&#8217;s hardship is not limited to the space segment. The company has been under intense regulatory scrutiny after a <a href="https://www.benzinga.com/24/01/36750759/i-am-angry-says-alaska-airlines-ceo-on-boeing-737-max-9-mid-air-blowout-reveals-many-loose-bolts-fou" target="_blank" rel="noreferrer noopener">door plug panel flew off </a>an Alaska Airlines plane manufactured by Boeing soon after take off in January.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40546244/tesla-engineer-says-enabling-cybertruck-owners-to-use-power-outlets-onboard-when-supercharging-will" target="_blank" rel="noreferrer noopener">Tesla Engineer Says Enabling Cybertruck Owners To Use Power Outlets Onboard When Supercharging Will Be Difficult: Here's Why</a></li>
</ul>
Image Via Shutterstock

SPACE

SpaceX CEO Elon Musk Takes A Dig At Boeing, Says Aircraft Companies Cannot Dominate Space Travel Industry

Orphan Drug designation provides for a seven-year marketing exclusivity period should opaganib be approved in neuroblastoma and may confer additional benefits such as accelerated development and review times, potential grant funding and possible tax credits.
The neuroblastoma market is expected to reach almost&nbsp;$1.5 billion&nbsp;before the middle of the next decade.&nbsp;

RDHL

RedHill Biopharma Says FDA Granted Orphan-Drug Designation To Opaganib For Treatment Of Neuroblastoma, A Type Of Childhood Cancer

Biotech

Health Care

Contracts

General

TNXP

Tonix Pharmaceuticals And Bilthoven Biologicals, Part Of The World's Largest Vaccine Manufacturer The Cyrus Poonawalla Group, Which Includes The Serum Institute Of India, Announced A Collaboration To Advance TNX-801, Tonix's Mpox Vaccine Candidate

WIIM

PDD Holdings shares are trading lower after the company reported Q2 revenue miss

Ocugen, Inc. ("Ocugen" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCGN#NASDAQ">OCGN</a>), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced that Health Canada provided a "No Objection Letter" to initiate the OCU400 Phase 3 liMeliGhT (pronounced "limelight") clinical trial in Canada. OCU400 is a modifier gene therapy product candidate being developed for retinitis pigmentosa (RP). &nbsp;

Government

Regulations

OCGN

Ocugen Receives Green Light from Health Canada for Phase 3 Trial of Gene Therapy for Retinitis Pigmentosa

This marks the first regulatory approval of Ordspono in the world for these patients. Ordspono is a bispecific antibody that acts by linking the lymphoma cell to a killer T cell.
The approval is based on results from the Phase 1 ELM-1 and pivotal Phase 2 ELM-2 trials, which demonstrated robust, durable response rates in adults with&nbsp;<a href="https://www.globenewswire.com/Tracker?data=LPv8ok_sfy7nS_F0TT0h974oIi0CWw_GwbpmxuuNd-4Uykm4pDPuVxopPcKTeeAY90SHZT8giM4D3bQFeV3WYJD60OzAeEtywFugcNBIjZyP_EX5U2ubVUpxavnzcJUUAV9qgs6JuDPXH6pSz0N_LwEU0NbDy7oWtHS7xOq_NHerVV1BGMNkwL4Ufpha1gHm8hcgrq4AuwrCBrhTndx8ew==" target="_blank">R/R FL</a>&nbsp;or&nbsp;<a href="https://www.globenewswire.com/Tracker?data=orCmgRkBSkp1fx797K-7qfC60dfYTVF6F0jBv_QzCaFhB_XTfq_Cmp0JWDohmlVwjCUpyMq7NC1BFuLMKGolcBmffavp27-UA15b1sKW2zdqmWA9tGKYfalfrkeAme0ohtmZ1xDi5IkHNaAoapRaO-D-ZaWs7580vY_B_4oYfaYpctERL9Wdm89naivEqGZyoZP2x2PW3zNQ0GIEeo8raQ==" target="_blank">R/R DLBCL</a>:
&nbsp;

REGN

Regeneron Says European Commission Has Approved Ordspono To Treat Adult Patients With Relapsed Or Refractory Follicular Lymphoma Or R/R Diffuse Large B-cell Lymphoma, After Two Or More Lines Of Systemic Therapy

<ul>
<li>Robust net income, Adjusted EBITDA, and growing cash reserves demonstrating strong financial health of our business, is allowing us to increase our quarterly dividend to $0.125 per share, representing a 25% sequential increase.&nbsp; This next dividend will be paid on&nbsp;October 3, 2024&nbsp;to shareholders of record on&nbsp;September 12, 2024.</li>
</ul>

Dividends

NSSC

NAPCO Security Technologies Declared A Quarterly Dividend/Share Of $0.125, Up By 25% QoQ

The partnership extends from now until June 30, 2030, ensuring students, educators and parents have a rich set of powerful resources for school years to come.

NRDY

Wapakoneta City Schools Reveals Partnership With Nerdy Company Varsity Tutors For Schools To Provide Live And On-Demand Tutoring Resources For Students

&nbsp;Gogo Business Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) today announced a partnership with Skyservice Business Aviation ("Skyservice"), a North American leader in business aviation, to develop Supplemental Type Certificates (STC) from Transport Canada Civil Aviation (TCCA) and the Federal Aviation Administration (FAA) for <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4239450-1&amp;h=3788756714&amp;u=https%3A%2F%2Fwww.gogoair.com%2Fgogo-5g%2F%3Futm_source%3Dgogo%26utm_medium%3Dpr%26utm_campaign%3DBRND_Q324_5G%26utm_content%3Dwebsite&amp;a=Gogo+5G">Gogo 5G</a>&nbsp;on six aircraft models.

GOGO

Gogo Business Aviation Partners With Skyservice To Develop FAA And TCCA STCs For 5G On Six Aircraft Models

Earnings Beats

NAPCO Security Techs Q4 2024 GAAP EPS $0.36 Beats $0.35 Estimate

On Friday, August 23rd, U.S. stocks closed higher after Fed Chair Jerome Powell hinted at a likely rate cut in September, citing reduced inflation risks. 
The S&amp;P 500, Dow Jones Industrial Average, and Nasdaq Composite all posted gains, driven by strong performances from major players like Nvidia, Apple, and Tesla. Financial stocks hit an all-time high, signaling market confidence. All three major indexes closed the week with solid advances.
According to economic data, Baker Hughes reported that the total number of active U.S. oil rigs remained steady at 483 this week.
During his Jackson Hole speech, Fed Chair Jerome Powell hinted at an imminent interest rate adjustment, emphasizing that future decisions <a target="_blank" href="https://www.benzinga.com/etfs/sector-etfs/24/08/40529209/jerome-powell-time-has-come-for-interest-rate-cuts-cooling-in-labor-market-unmistakable" rel="noreferrer noopener">will be data-driven without committing to specific timing or scale</a>.
All 11 major sectors of the S&amp;P 500 finished the session in positive territory, with real estate stocks leading the gains.
The Dow Jones Industrial Average was up 1.14% and closed at 41,175.08. The S&amp;P 500 ended the day higher by 1.15% at 5,634.61, and the Nasdaq Composite rose 1.47%, finishing the session at 17,877.79.
Asian Markets Today
<ul>
<li>On Monday, Japan&#8217;s Nikkei 225 closed lower by 0.94% at 38,058.00, led by losses in the Transportation Equipment, Services, and Electrical/Machinery sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 gained 0.76%, ending the day at 8,084.50, led by gains in the Telecoms Services, Financials, and Energy sectors.     </li>
<li>India&#8217;s Nifty 50 gained 0.76%, closing at 25,010.60, and the Nifty 500 closed higher by 0.61% at 23,561.75.</li>
<li>China&#8217;s Shanghai Composite was up 0.04%, ending the session at 2,855.52, and the Shenzhen CSI declined 0.09%, closing at 3,324.22.</li>
<li>Hong Kong&#8217;s Hang Seng ended the session higher by 1.06% at 17,798.73.</li>
</ul>
Eurozone at 06:15 AM ET
<ul>
<li>The European STOXX 50 index declined 0.08%.</li>
<li>Germany&#8217;s DAX fell 0.22%.</li>
<li>France&#8217;s CAC was up 0.15%.</li>
<li>U.K. Markets are closed for the Bank holiday.</li>
</ul>
Commodities at 06:15 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 1.86% at $76.27/bbl, and Brent was up 1.69% at $79.50 bbl.</li>
<li>Oil prices rose due to escalating Gaza conflict fears potentially disrupting regional oil supplies, extending gains from Friday driven by optimism over U.S. interest rate cuts boosting global economic and fuel demand outlook.</li>
<li>Natural Gas fell 1.01% to $2.158.</li>
<li>Gold was trading higher by 0.63% at $2,562.50, Silver gained 1.31% to $30.6555, and Copper rose 0.69% to $4.2745.</li>
</ul>
US Futures at 06:15 AM ET
Dow futures were up 0.07%, S&amp;P 500 futures gained 0.18%, and Nasdaq 100 Futures rose 0.23%.
Forex at 06:15 AM ET
<ul>
<li>The U.S. dollar index gained 0.05% to 100.77, the USD/JPY was down 0.24% to 144.01, and the USD/AUD rose 0.22% to 1.4763.</li>
<li>The U.S. dollar weakened, hitting a three-week low against the yen, as Fed Chair Powell&#8217;s dovish shift contrasted with Bank of Japan Governor Ueda&#8217;s hawkish stance. The dollar also hovered near multi-month lows against the euro and sterling, reflecting differing central bank policies and expectations of rate cuts in the U.S.</li>
</ul>
Photo by Sharon McCutcheon on Unsplash

Asia

Eurozone

Futures

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia And Europe Markets Mixed; Gold Hits Another Record High As Dollar Hits 3-Week Low - Global Markets Today While US Slept

Management

SEDG

SolarEdge Names Ariel Porat, Senior VP Finance, As CFO, As Part Of Previously Announced CFO Succession Plan

Rodman &amp; Renshaw analyst Brandon Folkes initiates coverage on Cormedix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) with a Buy rating and announces Price Target of $13.

Price Target

Initiation

Analyst Ratings

CRMD

Rodman & Renshaw Initiates Coverage On Cormedix with Buy Rating, Announces Price Target of $13

NAPCO Security Techs Q4 Sales $50.330M Beat $50.279M Estimate

The Company&#39;s Board of Directors has initiated a search for a new CEO with the support of a leading global executive search firm, and has appointed Ronen Faier, previously Chief Financial Officer, to serve as Interim Chief Executive Officer, effective today.&nbsp;
Zvi Lando will remain a member of the Board of Directors. He will also serve as an advisor to the management team to support the leadership transition.

SolarEdge Says Zvi Lando Has Stepped Down As CEO; Ronen Faier Appointed As Interim CEO

Gordon Haskett analyst Eric Cohen upgrades Ollie's Bargain Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) from Accumulate to Buy and raises the price target from $105 to $107.

Upgrades

OLLI

Gordon Haskett Upgrades Ollie's Bargain Outlet to Buy, Raises Price Target to $107

ELYM

Eliem Therapeutics Names Brett Kaplan As COO And Nishi Rampal As Senior Vice President, Clinical Development

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com%2F&amp;esheet=54112880&amp;newsitemid=20240823435371&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=920fa13dd1fcd6bf52b5c0cf98261c63">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced the presentation of research across its robust cardiovascular portfolio at the European Society of Cardiology(ESC) Congress, taking place August 30 – September 2, 2024, in London, England. Data to be presented at the meeting includes long-term extension data evaluating the efficacy and safety profile of CAMZYOS&#xAE; (mavacamten) up to 180 weeks (3.5 years) for the treatment of New York Heart Association (NYHA) class II-III symptomatic obstructive hypertrophic cardiomyopathy (oHCM), as well as data on behalf of the BMS-Pfizer Alliance on ELIQUIS&#xAE; (apixaban) and the BMS-Johnson &amp; Johnson Collaboration on milvexian.

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