Option chain shows key data for NioCorp Developments's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for NioCorp Developments.

NioCorp Developments (NASDAQ:NIOBW) Stock, Option Chain

NioCorp Developments Ltd is engaged in exploration and development of mineral deposits in North America, specifically, the Elk Creek Niobium/Scandium/Titanium property.

NioCorp Developments Ltd

Outset Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OM#NASDAQ">OM</a>) sees FY2025 sales of $115.000 million-$125.000 million vs $121.32 million analyst estimate.

News

Guidance

Outset Medical Sees FY2025 Sales $115.000M-$125.000M vs $121.32M Est

Earnings

MGRC

McGrath Sees FY25 Revenue $920M-$970M Up From $911M YoY; Adj EBITDA $345M-$360M.

Outset Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OM#NASDAQ">OM</a>) reported quarterly losses of $(0.37) per share which beat the analyst consensus estimate of $(0.41) by 9.76 percent. This is a 37.29 percent increase over losses of $(0.59) per share from the same period last year. The company reported quarterly sales of $29.47 million which beat the analyst consensus estimate of $28.47 million by 3.49 percent. This is a 3.41 percent decrease over sales of $30.51 million the same period last year.

Earnings Beats

Outset Medical Q4 Adj $(0.37) Beats $(0.41) Estimate, Sales $29.47M Beat $28.47M Estimate

Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) reported quarterly earnings of $0.95 per share which met the analyst consensus estimate. This is a 10.47 percent increase over earnings of $0.86 per share from the same period last year. The company reported quarterly sales of $624.20 million which beat the analyst consensus estimate of $620.22 million by 0.64 percent. This is a 11.23 percent increase over sales of $561.20 million the same period last year.

CHDN

Churchill Downs Q4 2024 GAAP EPS $0.95, Inline, Sales $624.20M Beat $620.22M Estimate

Penumbra Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) is trading higher after the company reported better-than-expected <a href="https://www.benzinga.com/pressreleases/25/02/n43796948/penumbra-inc-reports-fourth-quarter-and-full-year-2024-financial-results" target="_blank" rel="noreferrer noopener">fourth-quarter earnings</a>.
The medical device company reported:
<ul>
<li>Adjusted EPS of 97 cents, up from 76 cents a year ago, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of 90 cents</a>.</li>
<li>Sales of $315.52 million, up 10.8% year over year and beating the consensus of $311.55 million.</li>
<li>Global thrombectomy product Q4 sales grew to $220.1 million, an increase of 15.4% in reported and constant currency</li>
<li>U.S. thrombectomy product sales increased by 27.3%.</li>
<li>Global embolization and access product revenues grew to $95.4 million in the fourth quarter of 2024, an increase of 1.6%, or 1.5% in constant currency</li>
<li>U.S. embolization and access product revenue increased by 8.9%.</li>
<li>Operating income reached $42.8 million, with an adjusted&nbsp;operating income of $48.6 million&nbsp;in the fourth quarter of 2024.</li>
<li>Q4 net income reached $33.7 million, and adjusted EBITDA was $63.7 million, with margins of 10.7% and 19.8%, respectively.</li>
</ul>
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42534137/penumbra-is-poised-to-gain-share-in-an-expanding-market-says-bullish-analyst" rel="noreferrer noopener">Penumbra Is Poised For Growth As Blood Clot Awareness Rises: Analyst</a>
<h2 class="wp-block-heading">Penumbra Guidance</h2>
The company forecasts fiscal year 2025 sales of $1.34 billion-$1.36 billion versus a consensus of $1.36 billion.
Penumbra projects the U.S. thrombectomy franchise will grow 19% to 20% year over year, driven primarily by its computer-assisted vacuum thrombectomy products.
The company also expects gross margin expansion of at least 100 basis points in 2025, to more than 67% for the full year, and operating margin expansion to 13% to 14% of revenue for 2025.
Analyst reactions:
<ul>
<li>Baird maintains the Outperform rating on Penumbra, raising the price target <a href="https://www.benzinga.com/quote/PEN/analyst-ratings" target="_blank" rel="noreferrer noopener">from $305 to $328</a>.</li>
<li>Needham reiterates Penumbra&#8217;s Hold rating.</li>
<li>Morgan Stanley maintains Penumbra with an Equal-Weight, raising the price target from $240 to $260.</li>
<li>Piper Sandler reiterates Penumbra with an Overweight, increasing the price target from $250 to $330.</li>
<li>Wells Fargo also reaffirms Penumbra&#8217;s Overweight rating, with a price target of $305, up from $275.</li>
<li>UBS analyst maintains Penumbra with a Buy and raises the price target from $305 to $320.</li>
<li>Canaccord Genuity maintains the Buy rating on Penumbra and raises the price target from $323 to $340.</li>
<li>Truist Securities reaffirms the Buy rating for Penumbra and raises the price target from $285 to $325.</li>
<li>RBC Capital maintains Penumbra with an Outperform rating and raises the price target from $285 to $313.</li>
<li>JP Morgan maintains Penumbra with an Overweight rating and raises the price target from $230 to $285.</li>
</ul>
Price Action: Penumbra stock is up 11.3% at $301.89 at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/25/02/43815436/supernus-pharmaceuticals-stock-falls-on-disappointing-data-from-treatment-resistant-depression-trial" target="_blank" rel="noreferrer noopener">Supernus Pharmaceuticals Stock Falls On Disappointing Data From Treatment-Resistant Depression Trial</a></li>
</ul>
Image: Shutterstock

Health Care

Price Target

Analyst Ratings

Movers

Trading Ideas

General

Stroke Device Maker Penumbra Stock Surges On Earnings Beat, Analysts Boost Price Forecasts After Upbeat 2025 Outlook

WIIM

VMAR

Vision Marine Technologies shares are trading higher after the company announced an enhanced collaboration with Electrified Marina.

Vision Marine Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) ("Vision Marine" or the "Company"), a company specializing in electric marine propulsion, is pleased to announce an enhanced collaboration with Electrified Marina, the nation's only 100% electric watercraft dealer.
&nbsp;
Co-founded by Erick Pinzon, Jr., a former Tesla service and charging infrastructure specialist, Electrified Marina has become a key player in the electric boating sector. Known for its deep industry knowledge, Electrified Marina has built a strong reputation by selling and operating both high-powered electric boats and low-powered electric cruisers, making electric boating accessible to a diverse range of customers.
Through this strengthened partnership, Vision Marine will provide Electrified Marina with additional resources to bolster its role as a leading distributor and ambassador for Vision Marine's E-Motion&#x2122; electric propulsion technology. This initiative aims to expand consumer access to high-performance, zero-emission boating solutions along the East Coast.

Vision Marine Technologies Strengthens Partnership With Electrified Marina To Propel Electric Boating On The East Coast

McGrath RentCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGRC#NASDAQ">MGRC</a>) reported quarterly earnings of $1.58 per share which beat the analyst consensus estimate of $1.49 by 6.04 percent. The company reported quarterly sales of $243.700 million which missed the analyst consensus estimate of $246.926 million by 1.31 percent. This is a 9.98 percent increase over sales of $221.588 million the same period last year.

Earnings Misses

McGrath RentCorp Q4 2024 Adj. EPS $1.58 Beats $1.49 Estimate, Sales $243.700M Miss $246.926M Estimate

DA Davidson analyst Linda Bolton Weiser maintains Medifast (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MED#NYSE">MED</a>) with a Neutral and lowers the price target from $17 to $16.5.

DA Davidson Maintains Neutral on Medifast, Lowers Price Target to $16.5

<h4>Key Takeaways:</h4>
<ul>
<li>Eternal Beauty has filed for a Hong Kong IPO, reporting its profit rose 20% year-on-year in the first half of its current financial year</li>
<li>The perfume seller plans to use funds from the listing to further expand its self-owned brands</li>
<li>**</li>
</ul>
A new beauty pageant is shaping up on the Hong Kong Stock Exchange, following last year&rsquo;s hot listing of popular cosmetics brand&nbsp;Mao Geping&nbsp;(1318.HK). That share sale brought in suitors left and right and was ultimately oversubscribed by more than 900 times. As investors clamored for a piece of the company, its stock soared on its opening day, closing up 76%.
The stock hasn&rsquo;t disappointed since then, either, continuing to climb to its current level that&rsquo;s up nearly 150% from the IPO price. The stock&rsquo;s hot reception may be inspiring perfume major&nbsp;Eternal Beauty Holdings Ltd.&nbsp;to restart its earlier attempt at a Hong Kong listing.
Its new&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2025/107126/documents/sehk25020701004.pdf">listing document</a>&nbsp;filed earlier this month shows Eternal Beauty&rsquo;s revenue has been rising steadily from 1.68 billion yuan ($231 million) in its fiscal year through March 2022 to 1.86 billion yuan in its fiscal year through March 2024. Its profit over that period rose from 171 million yuan to 207 million yuan. Its revenue for the six months through last September &ndash; the first half of its current fiscal year &ndash; rose 14.2% year-on-year to 1.06 billion yuan, while its profit over that time rose 20% to 116 million yuan.
The company&rsquo;s mainstay is perfume, though it also deals in other products like color cosmetics, skincare and personal care products, eyewear and home fragrances. Its revenue comes primarily from the sale of its own-branded products, and from managing brands for other companies. It currently provides such management services to 66 outside brands, including such big names as Herm&egrave;s, Van Cleef &amp; Arpels, Chopard, Albion and Laura Mercier.
The company logged one of its earliest milestones in 1987 when it was authorized to distribute a French company&rsquo;s perfumes in China. It recorded another in 1999 when it started developing its own Santa Monica eyewear brand. It currently offers three product categories under the brand, including five Santa Monica perfumes launched in 2022, positioned as entry-level premium products.
<h4>Demand for beauty</h4>
Eternal Beauty is no doubt encouraged by Mao Geping&rsquo;s success story, reflecting the resilience of cosmetic sales in China despite the current weak consumer market. Even though people may need to economize a little during the slowdown, many may still feel compelled to spend on making themselves look better.
Data from China&rsquo;s National Statistics Bureau shows that cosmetics sales in China rose from 394 billion yuan in 2022 to 436 billion yuan last year. Eternal Beauty&rsquo;s listing document also reveals that the scale of China&rsquo;s retail perfume market jumped from 14.6 billion yuan in 2018 to 26.1 billion yuan in 2023, growing around 12.3% annually. The growth is expected to continue at a similar rate, reaching 47.7 billion yuan in 2028.
Against the backdrop of such strong growth, Eternal Beauty stands out for its substantial first-mover advantage. The company was founded by Hong Kong businessman Lau Kui Wing in 1980 and set up a branch on the Chinese Mainland in 1987 introducing international perfume brands to the market. As China&rsquo;s economy boomed over the next three decades, Eternal Beauty also thrived on growing demand for its products from the country&rsquo;s emerging middle class.
According to third-party market data in its listing document, Eternal Beauty was China&rsquo;s third largest perfume seller in terms of retail sales in 2023, and was also the only brand management company for other top perfume makers. Its leading position in a rising industry has given it an advantage as a market old-timer over later arrivals to China&rsquo;s beauty scene.
Its long history has also given the company a store network that would make its rivals green with envy. That network includes 7,500 retailers in over 400 Chinese cities as of last September, in addition to over 100 of its own self-operated brick-and-mortar retail stores. It also hawks its wares online on e-commerce and social media platforms.
<h4>Expanding self-owned brands</h4>
As in many businesses, self-brand operation for perfume makers like Eternal Beauty typically delivers better profits compared with distributing and managing other brands. The company already has such experience through its development of the Santa Monica brand, and it plans to use money from the IPO to further expand its own brand stable as well as acquire and invest in other brands. That, in turn, should help to not only boost its revenue, but also improve its gross margin.
In valuation terms, Mao Geping has set a high standard by logging a trailing price-to-earnings (P/E) ratio of 40 times. Much of that may owe to the fact that the company owns its own brands, which helped it generate a profit of close to 500 million yuan in the first half of last year. While Eternal Beauty has plenty of experience in perfume sales and brand management, its weaker profit profile may make Mao Geping an inappropriate comparison.
Instead, a better comparison might be Hong Kong&rsquo;s&nbsp;Sa Sa International&nbsp;(0178.HK), which trades at a more down-to-earth trailing P/E ratio of 13.7 times. Using Sa Sa&rsquo;s P/E multiple and an annual profit forecast of HK$230 million would give Eternal Beauty a market value of about HK$3.2 billion ($411 million) &ndash; not huge, but also not small change for the latest beauty queen to list in Hong Kong.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

IPOs

Eternal Beauty Struts Its Stuff As Hong Kong's Newest IPO Contestant

Jones Trading analyst Jason Weaver maintains Seven Hills Realty Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEVN#NASDAQ">SEVN</a>) with a Buy and maintains $15 price target.

SEVN

Jones Trading Maintains Buy on Seven Hills Realty Trust, Maintains $15 Price Target

CAKE

CAVA

FWRG

JACK

KRUS

NDLS

PTLO

PZZA

RRGB

SHAK

STKS

TXRH

WING

YOSH

Shares of restaurant companies are trading lower. The sector may be down after Wingstop reported a Q4 revenue miss and reported an increase in the cost of food, beverage and packaging costs, including a rise in the cost bone-in chicken wings.

Minutes from the January Federal Open Market Committee (FOMC) meeting released Wednesday showed many of the Federal Reserve's policymakers stressed the need for additional evidence that inflation was cooling before any further interest rate cuts<a href="https://www.benzinga.com/general/market-summary/25/02/43821214/trump-calls-for-more-tariffs-federal-reserve-minutes-on-deck-whats-driving-markets-wednesday"> could be considered.&nbsp;</a>
The Details: The January meeting's minutes revealed that all of the Fed&#8217;s policymakers supported keeping its key rate steady at the 4.25% to 4.5% range. Officials noted a "high degree of uncertainty" that requires the Fed to "take a careful approach" in considering any further changes to its key interest rate.
Several Fed meeting participants highlighted President Donald Trump's proposed tariffs and immigration policies, strong household spending, and geopolitical risks as factors that led to the large degree of uncertainty surrounding the rate of inflation in the near term. 
Read Next: <a href="https://www.benzinga.com/25/02/43703014/robert-f-kennedy-confirmed-as-trump-secretary-of-health">Robert F. Kennedy, Vaccine Skeptic, Confirmed As Trump&#8217;s Secretary Of Health: Health Care Stocks To Watch</a>
However, there was some back-and-forth between policymakers, with some suggesting the Committee could keep the policy rate at a restrictive level if inflation remained elevated and others noting policy could be eased more quickly if economic conditions warranted or inflation returned to 2%. 
Markets React: Market-implied probabilities via CME FedWatch were unchanged following the release of the FOMC minutes, assigning a 97.5% chance of the Fed holding rates unchanged at its March meeting, and the remaining 2.5% odds pointing to a cut in interest rates.
Major U.S. indices are mixed in late trading Wednesday with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, up 0.16% at $612.48 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100 index, down 0.06% at $539.06 at the time of publication.&nbsp;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/02/43535256/palantir-adds-elon-musks-ai-chatbot-grok-to-aip">Palantir Adds Elon Musk&#8217;s AI Chatbot Grok To AIP</a></li>
</ul>
Photo by MDart10 on Shutterstock.

Equities

Broad U.S. Equity ETFs

Econ #s

Federal Reserve

Markets

ETFs

Fed Minutes Reveal Officials See 'High Degree Of Uncertainty' Requiring 'A Careful Approach' On Rate Cuts

Litchfield Hills analyst Barry Sine initiates coverage on Unusual Machines (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UMAC#AMEX">UMAC</a>) with a Buy rating and announces Price Target of $20.

Initiation

UMAC

Litchfield Hills Initiates Coverage On Unusual Machines with Buy Rating, Announces Price Target of $20

UnitedHealthcare, the insurance arm of UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), is reportedly offering some employees in its benefits operations unit a chance to take a buyout if they resign by March 3.
In January, UnitedHealth announced that Tim Noel will be CEO of the UnitedHealthcare after the segment's former chief executive was murdered&nbsp;<a target="_blank" href="https://www.benzinga.com/25/01/43195956/unitedhealth-announces-replacement-for-murdered-executive-heres-who-will-lead-insurance-unit" rel="noreferrer noopener">in New York last month.</a>
Previous CEO&nbsp;Brian Thompson&#8217;s death and&nbsp;<a target="_blank" href="https://www.benzinga.com/24/12/42605759/luigi-mangione-faces-death-penalty-details-show-attack-planned-for-months-the-target-is-insuranceit-checks-every-box" rel="noreferrer noopener">the possible motive&nbsp;</a>behind his killing have drawn scrutiny to the health insurance sector, including reports of high claim denial rates by companies like UnitedHealth Group.
Workers were told about the buyouts in a brief 10-minute meeting on Monday.
Employees who don't accept the offer will stay in their current role or move to a similar position. However, if not enough workers take the buyout, layoffs will follow, the sources <a target="_blank" href="https://www.cnbc.com/2025/02/19/unitedhealthcare-offers-buyouts-could-pursue-layoffs.html" rel="noreferrer noopener">told</a> CNBC, citing an internal company site.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/01/43173248/us-health-agency-cms-to-appeal-medicare-star-ratings-recalculation-ruling" rel="noreferrer noopener">US Health Agency CMS To Appeal Medicare Star Ratings Recalculation Ruling</a>
The company did not disclose how many employees were offered buyouts under the Voluntary Resignation Separation Program. The CNBC report said that the benefits operations unit handles customer service, claims, enrollment, and insurance benefits.
"This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve," a UnitedHealth spokesperson told CNBC. "We continue to grow our workforce with more than 3,200 positions currently available on UnitedHealth Group's careers site."
The company expects employees&#8217; last day to be no earlier than May 1, according to an internal memo seen by CNBC. Some who take buyouts may need to stay longer, but no one will be required to work past Nov. 13.
Severance packages will be based on years of service and salary level and will take effect on the termination date. The memo also noted that if there are future layoffs, the benefits may not be as generous as those in the buyout program.
UnitedHealthcare reported Q4 revenue of $74.1 billion, up from $70.8 billion a year ago. The number of consumers served with domestic commercial benefits grew by <a target="_blank" href="https://www.benzinga.com/25/01/43065141/analysts-maintain-optimism-for-unitedhealth-despite-mixed-q4-results" rel="noreferrer noopener">2.4 million in 2024</a>.
Price Action: UNH stock is up 0.25% at $501.99&nbsp;at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43820335/appian-q4-earnings-surges-on-strong-growth-ai-driven-efficiency-boosts-revenue-2025-outlook" target="_blank" rel="noreferrer noopener">Appian Q4 Earnings: AI-Driven Efficiency Boosts Revenue, Subscription Growth, Issues Strong Outlook</a></li>
</ul>
Image: Shutterstock

Large Cap

Rumors

UnitedHealthcare Offers Voluntary Buyouts, Possible Layoffs If Targets Not Met: CNBC

Elliott Investment Management made several portfolio moves in the fourth quarter, closing multiple options positions and shaking up the activist firm&#8217;s <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43811538/5-top-tech-stocks-hedge-funds-have-been-bullish-on-in-q4-hint-its-not-nvidia">technology exposure</a>.
According to a new&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1791786/000101359425000294/xslForm13F_X02/primary_doc.xml" target="_blank" rel="noreferrer noopener">13-F</a>&nbsp;filing with the U.S. Securities and Exchange Commission, Elliott added the following new positions in the fourth quarter:
<ul>
<li>Wolfspeed Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>)</li>
</ul>
<ul>
<li>NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) put options</li>
</ul>
<ul>
<li>SPDR Select Sector Fund Industrial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) put options</li>
</ul>
<ul>
<li>SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) put options</li>
</ul>
Here's a look at all of the positions Elliott added to during the fourth quarter:
<ul>
<li>Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) increased by 369%</li>
</ul>
<ul>
<li>MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) increased by 200%</li>
</ul>
<ul>
<li>CorMedix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) increased by 85%</li>
</ul>
<ul>
<li>HDFC Bank Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDB#NYSE">HDB</a>) increased by 6%</li>
</ul>
Here&#8217;s a look at all of the positions Elliott closed during the fourth quarter:
<ul>
<li>Catalent Inc (CTLC) </li>
</ul>
<ul>
<li>Cardinal Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>)</li>
</ul>
<ul>
<li>Unity Software Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>)</li>
</ul>
<ul>
<li>BILL Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>)</li>
</ul>
Elliott closed out of calls in several names including Arm Holdings, American Airlines and Alaska Air Group. The firm also closed multiple put positions including Equinix, Hyatt Hotels and Host Hotels.
Here's a look at all of the positions Elliott trimmed during the fourth quarter:
<ul>
<li>ICON Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLR#NASDAQ">ICLR</a>) decreased by 62%</li>
</ul>
<ul>
<li>RingCentral Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>) decreased by 55%</li>
</ul>
<ul>
<li>NRG Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) decreased by 50%</li>
</ul>
<ul>
<li>Confluent Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFLT#NASDAQ">CFLT</a>) decreased by 37%</li>
</ul>
<ul>
<li>Southwest Airlines Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) decreased by 2%</li>
</ul>
The above information does not include call or put options that were added to or trimmed&nbsp;during the quarter.
This information was gathered using comparison tools from&nbsp;<a href="https://13f.info/13f/000101359425000294/compare/000101359424000968" target="_blank" rel="noreferrer noopener">13f.info</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43811538/5-top-tech-stocks-hedge-funds-have-been-bullish-on-in-q4-hint-its-not-nvidia">5 Top Tech Stocks Hedge Funds Have Been Bullish On In Q4 (Hint: It&#8217;s Not Nvidia)</a></li>
</ul>
This illustration was generated using artificial intelligence via Midjourney.

Hedge Funds

BILL

CFLT

CRMD

ICLR

MSTR

NVDA

RING

WOLF

Elliott Investment Management Buys Wolfspeed Stock, Bets Against Nvidia In Q4

Macro Economic Events

Economics

LCID

RIVN

STLA

TSLA

EPA Submits Biden Administration Approval Of California Plan To End Sale Of Gasoline-Only Vehicles By 2035 To Congress For Review

Keefe, Bruyette &amp; Woods analyst Meyer Shields upgraded the rating on the shares of Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) <a target="_blank" href="https://www.benzinga.com/quote/TRV/analyst-ratings" rel="noreferrer noopener">from Market Perform to Outperform</a> and raised the price forecast from $275 to $286.
The analyst&#8217;s GAAP reserve analysis for year-end 2024 suggests that TRV&#8217;s GAAP loss and ALAE reserves were overestimated by approximately $1.388 billion (compared to $324 million at YE23E).
This primarily reflects excess reserves in workers&#8217; compensation, personal lines, and fidelity and surety, which exceeded the deficiencies in general liability, particularly within the Bond &amp; Specialty sector.
TRV&#8217;s reserve development for the 2024 calendar year was mainly driven by substantial releases in workers&#8217; compensation and personal lines (across all reported accident years), along with strong releases in fidelity and surety (for all accident years except 2023).
These were partially counterbalanced by reserve increases in the BI segment&#8217;s general liability and commercial multi-peril for the most recent accident years, said the analyst.
After TRV&#8217;s significant general liability reserve increase, the analyst&#8217;s main concern was that its substantial workers&#8217; compensation reserve releases might slow down. While this still seems plausible, the analyst is more optimistic about the current reserve &#8220;cushion.&#8221;
There are notable differences between the general liability portfolios of the Business Insurance and Bond &amp; Specialty segments. The analyst understands that the latter has more claims-made policies with shorter tails, which is why its paid claims converge more quickly to ultimate incurred amounts.
The analyst is slightly concerned that TRV&#8217;s release of 2023 commercial auto reserves aligns with its strengthening of accident years 2021-2022 for the same line.
However, the ratios of paid to incurred losses for recent accident years are at or near long-term lows, and the IBNR-to-total-reserve ratios are at or near long-term highs, which gives confidence in the segment&#8217;s reserves despite the continued social inflation.
The analyst raise 2025E/2026E reserve releases to $392 million/$292 million from $315 million/$199 million, which boosts 2025E/2026E EPS to $19.30/$24.90 from $19.05/$24.60.
The analyst notes TRV&#8217;s scale and analytical advantages make it a valuable long-term holding for investors but expects increasing earnings volatility and declining reserve releases to limit near-term upside.
Price Action: TRV shares are trading higher by 1.56% at $242.12 at the last check Wednesday.
Photo via Shutterstock.

Analyst Color

Upgrades

Travelers Companies' Scale And Analytical Advantages Make It Attractive, Analyst Says

<a href="https://www.benzinga.com/topic/europe">European fund managers</a> are optimistic that rising economic growth will fuel a rally in the region's stocks.
This bullishness is already reflected in performance, per a Financial Times report. The Stoxx Europe 600 index has climbed nearly 10% in this year thus far, outpacing the S&amp;P 500's 4% rise and Japan's Topix, which has seen a slight decline.
For investors looking to ride this momentum, <a href="https://www.benzinga.com/etfs">here are three ETFs</a> offering strong exposure to European stocks:
SPDR Euro Stoxx 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>): The SPDR EURO STOXX 50 ETF has been gaining momentum, recently hitting a 52-week high and climbing 15.16% from its 52-week low of $47.11 per share.
<ul>
<li>What's inside? FEZ tracks the EURO STOXX 50 Index, which represents the performance of the largest companies in the Eurozone across 19 different sectors. With an annual expense ratio of 0.29%, it offers broad exposure to Europe's biggest players.</li>
<li>Why is it moving? Optimism over a <a href="https://www.benzinga.com/25/02/43791431/whats-driving-markets-tuesday">potential peace deal between Ukraine and Russia</a>, fueled by recent talks between U.S. and Russian officials, has lifted European equities. Strong earnings reports from major European firms have also contributed to the fund's rally.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/news/global/25/02/43769730/ukraine-raises-alarm-over-us-russia-talks-on-war-without-kyivs-involvement">Ukraine Raises Alarm Over US-Russia Talks on War Without Kyiv&#8217;s Involvement</a>
Vanguard FTSE Europe ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGK#NYSE">VGK</a>): This ETF provides a broader European exposure, with holdings in companies across sectors. Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVO#NYSE">NOVO</a>), AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) and Nestle are among the top names adorning the portfolio.
<ul>
<li>What's inside? VGK tracks the FTSE Developed Europe Index, covering a wide range of European equities beyond just the Eurozone, including the U.K. The fund's low expense ratio of 0.09% makes it a cost-effective way to gain diversified exposure.</li>
<li>Why is it moving? Sentiment around European stocks has improved. Investors are relieved that the EU, seen as a potential target of Trump's &#8220;America First&#8221; trade policies, has so far avoided new tariffs.</li>
</ul>
Xtrackers MSCI EAFE Hedged Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBEF#NYSE">DBEF</a>): Currency fluctuations can impact returns when investing in foreign stocks, which is where DBEF comes in. This fund offers exposure to European, Australasian, and Far Eastern stocks while hedging against currency risk.
<ul>
<li>What's inside? DBEF tracks the MSCI EAFE Index but incorporates a hedge against fluctuations in the U.S. dollar. This makes it an appealing option for U.S.-based investors looking to minimize currency-related volatility. The expense ratio is 0.36%.</li>
<li>Why is it moving? With the euro weakening against the dollar, European earnings might look more attractive to foreign investors. </li>
</ul>
<h2 class="wp-block-heading">Europe: The Best-Performing Equity Market</h2>
Bank of America's latest survey of 200-plus European fund managers, overseeing $482 billion in assets, found that 38% see European equities as undervalued. That&#8217;s the highest level in six years, according to the Financial Times.
"A plurality of investors expects Europe to be the best-performing equity market globally this year," BofA researchers noted, per Financial Times. A net 12% of respondents are now "overweight" European equities, compared to a net 25% who were "underweight" in December.
The rally in European equities is being powered by renewed economic optimism, potential fiscal stimulus in Germany, and a shift in sentiment among global investors. However, some experts urge caution. Pictet Asset Management's Luca Paolini warns that the rally is &#8220;based on hope, not facts,&#8221; with sentiment possibly overrunning fundamentals.
Whether the rally is sustainable remains to be seen, but for now, European stocks are back in focus.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43818555/trade-war-redux-a-bumpy-ride-ahead-for-these-etfs-after-trumps-tariff-move-on-auto-pharma-chip-imports">Trade War Redux: These ETFs Due For Bumpy Ride Thanks To Trump Tariffs On Auto, Pharma, Chip Imports</a></li>
</ul>
Photo: Shutterstock

Specialty ETFs

DBEF

NOVO

Big Money Is Betting On Europe, Should You? 3 ETFs To Watch

PLTR

Palantir shares are trading lower after a Washington Post report stated that the Trump administration ordered the Pentagon to plan for budget cuts.

American Battery Technology Company - Common Stock

American Battery Tech

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares)

Comments

NioCorp Developments

NioCorp Developments (NIOBW) Options

No option chain data available. Please try again later

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga