Latest news for Mammoth Resources (OTC:MMMRF) Stock

Mammoth Resources Corp is an exploration-stage company. It is involved in the business of acquisition, exploration, and evaluation of mining properties in Mexico. It is focused on acquiring and defining precious metal resources in Mexico. Its project includes the Tenoriba property, in southwestern Chihuahua State, Mexico.

MAMMOTH RESOURCES CORP by Mammoth Resources Corp.

Mammoth Resources Corp

Telsey Advisory Group analyst Sarang Vora maintains Coursera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) with a Outperform and maintains $18 price target.

News

Price Target

Analyst Ratings

COUR

Telsey Advisory Group Maintains Outperform on Coursera, Maintains $18 Price Target

Morgan Stanley analyst Kristine Liwag maintains Hexcel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>) with a Underweight and lowers the price target from $63 to $61.

Morgan Stanley Maintains Underweight on Hexcel, Lowers Price Target to $61

Needham analyst Mayank Tandon reiterates Euronet Worldwide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EEFT#NASDAQ">EEFT</a>) with a Buy and maintains $125 price target.

Reiteration

EEFT

Needham Reiterates Buy on Euronet Worldwide, Maintains $125 Price Target

Evercore ISI Group analyst Mark Mahaney initiates coverage on Webtoon Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBTN#NASDAQ">WBTN</a>) with a Outperform rating and announces Price Target of $30.

Initiation

WBTN

Evercore ISI Group Initiates Coverage On Webtoon Entertainment with Outperform Rating, Announces Price Target of $30

The deal includes 20 777-9s and 20 787-10s with options for 10 more of the largest 787 Dreamliner variant.
When finalized and posted to Boeing&#39;s Orders &amp; Deliveries website, Korean Air will be the latest customer to purchase the world&#39;s largest and most fuel-efficient twin engine jet.

Contracts

Boeing Reveals Korean Air's Intent To Purchase Up To 50 Widebody Airplanes; No Terms Disclosed

China has made a surprising move to stimulate its economy by lowering key interest rates. The decision comes as the country faces several economic challenges, including weak growth <a target="_blank" href="https://www.benzinga.com/news/24/07/39768528/alibaba-chinese-tech-stocks-and-ev-stocks-nio-xpeng-li-auto-tumble-after-disappointing-economic-repo" rel="noreferrer noopener">in the second quarter</a>, looming deflation, and a prolonged property crisis.
Chinese stocks, including Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), JD.Com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), Baidu, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), Bilibili Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) are trading higher Monday.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39810709/whats-going-on-with-alibaba-and-peer-chinese-stocks-on-wednesday" rel="noreferrer noopener">Alibaba and Peers Face Challenges as U.S. Tightens Semiconductor Export Rules</a>
<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/2024/07/22042007/newplot-50.png" alt="" class="wp-image-448053" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/22042007/newplot-50.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/22042007/newplot-50-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
On Monday, the People&#8217;s Bank of China (PBOC) announced that it would cut the seven-day reverse repo rate to 1.7% from 1.8% and reduce the one-year loan prime rate (LPR) to 3.35% from 3.45%.
Additionally, China lowered the five-year LPR to 3.85% from 3.95%. These measures aim to boost economic activity and achieve the growth targets set during the recent plenum, Reuters reports.
The PBOC has also adjusted its lending programs. Starting in July, it will lower the collateral requirements for its medium-term lending facility loans.
Now, banks will need to hold fewer long-term bonds, enabling them to trade more freely and supporting the central bank&#8217;s efforts to stabilize long-term yields and prevent a bond bubble.
Following the rate cuts, Chinese sovereign bond yields fell, with 10-year and 30-year yields dropping by up to 3 basis points before stabilizing. China&#8217;s 30-year treasury futures for September 2024 delivery rose by approximately 0.3% in early trade on Monday.
<a target="_blank" href="https://www.benzinga.com/news/24/07/39877062/nvidia-reportedly-developing-a-new-version-of-its-flagship-ai-chip-for-chinese-market-amid-us-export" rel="noreferrer noopener">Separate reports indicated</a> that Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is developing a new AI chip tailored to meet U.S. export restrictions for China, which will boost stocks like Alibaba and Baidu, which are keen on pursuing their AI ambitions.
Alibaba stock lost 22% in the last 12 months as it battles macro and micro headwinds including cancellation of IPOs of its logistics and cloud business and intense domestic e-commerce rivalry from PDD. Baidu lost over 39% as its AI models strive to gain traction. JD.Com&nbsp;lost 32% and Bilibili in the last 12 months. PDD gained 69%.
Price Action:&nbsp;BABA shares are trading higher by 1.66% to $76.52 in the premarket session at the last check on Monday.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39857256/whats-going-on-with-alibaba-stock-on-friday" rel="noreferrer noopener">Alibaba Faces Setbacks with AI Expert Departure Amidst Regulatory Pressures</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Eric Prouzet on Unsplash

Government

Regulations

Emerging Markets

Media

BABA

BIDU

BILI

NVDA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

What's Going On With Alibaba And Other Chinese Stocks On Monday?

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Aclaris Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACRS#NASDAQ">ACRS</a>) with a Neutral.

ACRS

HC Wainwright & Co. Reiterates Neutral on Aclaris Therapeutics

The transaction represents the next step in the Company&#39;s transformation to become a premier independent supplier of paperboard to North American converters and the conclusion of its previously announced review of strategic options for the tissue business.
The Company expects net proceeds from the transaction of approximately&nbsp;$850 million, which it intends to use to meaningfully delever its balance sheet and invest in growth initiatives for its continuing operations.
The transaction is expected to close in the latter part of 2024, subject to customary closing conditions.

Asset Sales

Clearwater Paper Enters Definitive Deal To Sell Its Tissue Business To Sofidel America For $1.06B

Tech

Reuters Reported  Nvidia Working On Version Of Its New Flagship AI Chips For The China Market, Compatible With U.S. Export Controls

The four-acre property, now&nbsp;U-Haul Moving &amp; Storage at Lake Lanier, was acquired July 10. It is conveniently located just steps from the man-made lake. The facility features 307 drive up self-storage units as well as U-Haul truck and trailer sharing, towing equipment and moving supplies.

UHAL

U-Haul Acquires Former Lazy Day Storage Facility At 6619 Lanier Islands Parkway In Buford; No Terms Disclosed

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Hoth Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOTH#NASDAQ">HOTH</a>) with a Buy and maintains $4 price target.

HOTH

HC Wainwright & Co. Reiterates Buy on Hoth Therapeutics, Maintains $4 Price Target

Morgan Stanley analyst Matthew Cost initiates coverage on Webtoon Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBTN#NASDAQ">WBTN</a>) with a Equal-Weight rating and announces Price Target of $23.

Morgan Stanley Initiates Coverage On Webtoon Entertainment with Equal-Weight Rating, Announces Price Target of $23

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and other leading Taiwanese stocks have taken a hit in the U.S. pre-market following the announcement of U.S. President Joe Biden&#8217;s withdrawal from the presidential race. 
What Happened: TSMC&#8217;s shares dropped 1.25% in the U.S. pre-market on Monday after a more than 3% fall in Taipei.
Other Taiwanese stocks, including United Microelectronics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) and ASE Technology Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASX#NYSE">ASX</a>), also experienced a dip in the US pre-market by 1.28% and 0.73% respectively. Foxconn, a significant Nvidia AI server maker, saw its stock price plunge nearly 6% in Taiwan.
The Taiex index, which had seen a nearly 28% rise this year as of July 19, plummeted almost 700 points, or 3.04%, at one point on Monday.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39870083/black-swan-investor-says-greatest-bubble-in-human-history-is-on-the-verge-of-bursting-calls-stoc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Black-Swan Investor Says &#8216;Greatest Bubble In Human History&#8217; Is On The Verge Of Bursting, Calls Stocks &#8216;Mega-Tinderbox-Time Bomb&#8217;</a>
Why It Matters: Taiwan&#8217;s Foreign Minister Lin Chia-lung had previously asserted that <a href="https://www.benzinga.com/news/24/07/39871991/taiwan-asserts-self-reliance-in-wake-of-trumps-criticism-we-must-be-prepared-to-face-a-possible-chin">Taiwan must depend on itself</a> for defense and is expected to further boost spending and modernize its military in response to the threat posed by China.
Last week, TSMC shares were also trading following Trump&#8217;s suggestion that Taiwan should compensate the United States for its defense, raising concerns about the impact on Taiwan&#8217;s chip industry and the country&#8217;s stock market. Reports of Biden contemplating stricter trade restrictions with China further<a href="https://www.benzinga.com/markets/equities/24/07/39829923/trumps-taiwan-talk-bidens-trade-restriction-plans-trigger-nvidia-amd-and-other-semiconductor-sel"> jolted the rest</a> of the semiconductor.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39871849/analyst-predicts-bitcoin-to-soar-by-83-but-theres-one-major-catch-were-going-to-get-that-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Analyst Predicts Bitcoin To Soar By 83%, But There&#8217;s One Major Catch: &#8216;We&#8217;re Going To Get That Continuation As Long As &#8230;&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Pre-Market Outlook

Markets

General

Nvidia, Apple Supplier TSMC And Other US-Listed Taiwan Stocks Trading Lower In Pre-Market After Biden Quits Presidential Race

The solution features silicon carbide-based technologies in an integrated module that can scale across all power levels &ndash; from high power to low power traction inverters to be compatible for all vehicle categories.
Volkswagen Group will also benefit from onsemi&#39;s planned investment to expand its silicon carbide manufacturing in the Czech Republic.&nbsp;

VWAGY

Onsemi Inks Multi-year Deal With Volkswagen To Supply Solution For Vehicle Lineup Across Several Brands

Reaffirms&nbsp;Outlook&nbsp;for Fiscal Year 2025
The Company reaffirms its&nbsp;guidance&nbsp;for Fiscal Year 2025 for Vista Outdoor, as well as The Kinetic Group and Revelyst. The Company expects the following results for Fiscal Year 2025, among other&nbsp;guidance&nbsp;previously disclosed:
<ul>
<li>Sales in the range of&nbsp;$2.665 billion&nbsp;to&nbsp;$2.775 billion
<ul>
<li>The Kinetic Group Sales expected to be approximately&nbsp;$1.425 billion&nbsp;to&nbsp;$1.475 billion</li>
<li>Revelyst Sales expected to be approximately&nbsp;$1.240 billion&nbsp;to&nbsp;$1.300 billion</li>
</ul>
</li>
<li>Adjusted EBITDA in the range of&nbsp;$410 million&nbsp;to&nbsp;$490 million1
<ul>
<li>The Kinetic Group adjusted EBITDA expected to be approximately&nbsp;$350 million&nbsp;to&nbsp;$400 million</li>
<li>Revelyst adjusted EBITDA expected to be approximately&nbsp;$130 million&nbsp;to&nbsp;$160 million</li>
</ul>
</li>
</ul>
Vista Outdoor expects that Revelyst will pursue a 12-month&nbsp;$50 million&nbsp;share repurchase program following the closing of the CSG Transaction, subject to approval by the Revelyst Board of Directors.
Preliminary&nbsp;Q1&nbsp;2025 Financial Results
Revelyst Results
<ul>
<li>Sales are expected to decrease to a range of&nbsp;$272 million&nbsp;to&nbsp;$276 million. The decline relative to FY2024&nbsp;Q1&nbsp;was primarily driven by&nbsp;$13 million&nbsp;of orders expected in&nbsp;Q1&nbsp;shifting to&nbsp;Q2&nbsp;due to challenges related to shipping filled orders at the end of the quarter and delayed new product introductions to&nbsp;Q2, strong new product launches at Bushnell Golf in the prior year period, the divestiture of the RCBS brand, year over year pre-order delivery timing delays at Revelyst Adventure Sports and the February 2024 fire at Fiber Energy&#39;s main production facility that temporarily shuttered operations, partially offset by another quarter of growth at Foresight from the strong launch of the QuadMAX and Foresight Falcon product offerings, the launch of the Gridiron line of flat top griddles at Camp Chef, and an increase in government sales as we increase our focus on our support of our freedom fighters both domestically and internationally.</li>
<li>Operating income2&nbsp;is expected to be in the range of&nbsp;($2.5)&nbsp;million to&nbsp;($0.5)&nbsp;million.</li>
<li>Adjusted EBITDA is expected to be in the range of&nbsp;$14.5 million&nbsp;to&nbsp;$16.5 million. The decrease relative to FY2024&nbsp;Q1&nbsp;was primarily driven by lower volume due to the factors described in the sales discussion above partially offset by&nbsp;$5 million&nbsp;in realized cost savings from the GEAR Up transformation program, reduced ocean freight rates at Revelyst Adventure Sports and component cost savings at Revelyst Precision Sports Technology.</li>
</ul>

Guidance

VSTO

Vista Outdoor Reiterated FY25 Sales Of $2.665B-$2.775B Vs $2.74B Est, Discloses Q1 Sales Guide Of $272M-$276M Vs $674M Est

SHEL

KBR Says Its Blue Ammonia Technology Selected By Shell For Its Blue Horizons Low-Carbon Hydrogen And Ammonia Project In Duqm, Oman

President Joe Biden has chosen to step down from his position, causing a stir in the stock market and sparking speculation <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">about the potential Democratic nominee</a>.
What Happened: The President&#8217;s decision, though not entirely unforeseen, has ignited the stock market. Recent polls had shown a widening lead for Donald Trump over Biden, following a lackluster debate performance, a failed assassination attempt on Trump, and the Republican convention.
The stock market had already begun shifting its focus towards the so-called &#8220;Trump trade,&#8221; <a href="https://www.barrons.com/amp/articles/stock-market-futures-biden-quits-0d4e8066">reports</a> Barron&#8217;s. 
However, it&#8217;s still unclear how much of the recent trading activity was due to the increased likelihood of a Trump victory versus lower inflation and greater chances of a Federal Reserve rate cut. 
Last week, the S&amp;P 500 fell 2%, and the Nasdaq Composite dropped 3.6%, while the Dow Jones Industrial Average rose 0.7%.
Also Read: <a href="https://www.benzinga.com/news/24/07/39874154/bidens-exit-from-presidential-race-sparks-massive-reactions-from-first-lady-gavin-newsom-marjorie-ta">Biden&#8217;s Exit From Presidential Race Sparks Massive Reactions From First Lady, Gavin Newsom, Marjorie Taylor Greene And More — Read The Reactions Here</a>
With Biden&#8217;s departure, the Democrats are now left with the task of deciding on a nominee. Biden has endorsed Vice President Kamala Harris, but other potential candidates include Michigan Governor Gretchen Whitmer and California Governor Gavin Newsom.
According to Morgan Stanley strategist Michael Zezas, the policy uncertainty is minimal, as investors expect the current policies to continue under any candidate. 
"In any case, the change may drive investors to question if Trump will continue to be a heavy favorite and what, if any, changes to post-election policy paths are possible," he said.
However, the odds of a Trump win and a Republican-controlled House and Senate add to the uncertainty.
Why It Matters: The Cboe Volatility Index, or VIX, has already seen a rise in recent weeks. If the market interprets Biden&#8217;s exit as increasing the chances of a Trump presidency, stocks could potentially rise. 
&#8220;Biden stepping down is a whole new level of political uncertainty,&#8221; wrote Gina Bolvin, president of Bolvin Wealth Management Group. &#8220;This may be the catalyst for market volatility that is overdue.&#8221;
Read Next
<a href="https://www.benzinga.com/general/politics/24/07/39874123/trump-goes-in-full-attack-mode-after-biden-drops-out-of-race-says-president-is-certainly-not-fit" target="_blank" rel="noreferrer noopener">Trump Goes In Full Attack Mode After Biden Drops Out Of Race, Says President ‘Is Certainly Not Fit To Serve — And Never Was': ‘Only Attained The Position Of President By Lies, Fake News, And Not Leaving His Basement'</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via MidJourney

Biden Quitting 2024 Race Could Move The Stock Market: Key Factors To Watch On Monday

Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) reported quarterly earnings of $0.91 per share which beat the analyst consensus estimate of $0.82 by 10.98 percent. This is a 1.09 percent decrease over earnings of $0.92 per share from the same period last year. The company reported quarterly sales of $5.018 billion which beat the analyst consensus estimate of $4.805 billion by 4.42 percent. This is a 15.21 percent decrease over sales of $5.918 billion the same period last year.

Earnings

Earnings Beats

Truist Finl Q2 2024 Adj EPS $0.91 Beats $0.82 Estimate, Sales $5.018B Beat $4.805B Estimate

Rowan TELS Corp. is the provider of Rowan Patents &ndash; an integrated patent drafting and prosecution solution specially designed for patent practitioners to establish and protect patents more effectively.

CLVT

Clarivate Acquires Rowan TELS Corp. Through Subsidiary; No Terms Disclosed

Billionaire entrepreneur Elon Musk on Sunday said that neither his EV company Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) nor his <a href="https://www.benzinga.com/news/24/03/37849097/russia-threatens-us-elon-musk-led-spacexs-involvement-in-spying-could-make-satellites-a-legitimate-t">rocket manufacturing company</a> SpaceX has any interests in Russia.
What Happened: &#8220;I literally have zero interests [in] Russia,&#8221; Musk wrote on X, formerly Twitter. &#8220;Tesla has no operations there, SpaceX directly competes with Russia for space launch and Starlink is a key asset of Ukraine.&#8221;
Musk was responding to a podcast by Sam Harris with journalist and author Anne Applebaum wherein the latter hinted at the possibility of Musk having business interests in Russia. 
Musk also slammed Harris as a &#8220;pompous hypocrite.&#8221; 
&#8220;Sam Harris is a pompous hypocrite (writes book about how lying is terrible and then advocates lying to keep Trump from being elected) who is visibly and audibly detached from reality. How far he has fallen,&#8221; Musk wrote, referring to Harris&#8217; affiliation with Democrat politics. 
Musk himself endorsed Republican candidate Donald Trump earlier this month. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I literally have zero interests Russia. Tesla has no operations there, SpaceX directly competes with Russia for space launch and Starlink is a key asset of Ukraine. Sam Harris is a pompous hypocrite (writes book about how lying is terrible and then advocates lying to keep Trump…
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1814881735382880496?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Musk&#8217;s SpaceX <a href="https://www.benzinga.com/news/24/03/37744130/spacex-ceo-elon-musk-warns-space-rivals-to-up-their-game-or-end-up-in-the-noise-there-isnt-enough-to">competes with Russia&#8217;s Roscosmos</a> in the field of space launches. In the first quarter, SpaceX launched 31 missions, trumping&nbsp;China Aerospace Science and Technology Corporation&nbsp;(CASC) which had 9 launches, and Russia&#8217;s&nbsp;Roscosmos&nbsp;which had 5. SpaceX also switched on its satellite internet service called Starlink for use in Ukraine after Russia invaded the country. 
Earlier this year, Musk <a href="https://www.benzinga.com/news/24/02/37062145/elon-musk-denies-use-of-starlink-by-russian-forces-says-no-terminals-sold-directly-or-indirectly">denied reports</a> that SpaceX is selling Starlink terminals to Russia. 
&#8220;Starlink satellites will not close the link in Russia,&#8221; <a href="https://www.benzinga.com/news/24/04/38154879/elon-musks-starlink-gone-rogue-black-market-supplies-banned-tech-to-russia-and-beyond-report-reveals">Musk then said</a>.
As for Musk&#8217;s EV company Tesla, the company does not have stores, superchargers, or service centers in the country, as per the company website. 
Check out more of Benzinga&#8217;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/24/07/39870378/elon-musk-says-tesla-deleted-crowdstrike-from-its-systems-but-was-not-untouched-by-global-it-outage" target="_blank" rel="noreferrer noopener">Elon Musk Says Tesla Deleted CrowdStrike From Its Systems But Was Not Untouched By Global IT Outage: ‘Unfortunately, Many Of Our Suppliers…Use It'</a></li>
</ul>
Photo courtesy: Shutterstock

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