NAKAYAMA STEEL WORKS LTD by Nakayama Steel Works Ltd. Stock (OTC: NKYSF)

Latest news for NAKAYAMA STEEL WORKS LTD by Nakayama Steel Works Ltd. (OTC:NKYSF) Stock

NAKAYAMA STEEL WORKS LTD by Nakayama Steel Works Ltd.

WIIM

KSPI

Kaspi.kz shares are trading higher after the company announced a year-over-year increase in its nine-month financial results.

JP Morgan analyst Anthony Elian maintains Texas Capital Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) with a Underweight and raises the price target from $72 to $80.

News

Price Target

Analyst Ratings

TCBI

JP Morgan Maintains Underweight on Texas Capital Bancshares, Raises Price Target to $80

<a href="https://www.cnbc.com/2024/10/18/trump-sealed-court-files-jan-6-election-case.html" title="https://www.cnbc.com/2024/10/18/trump-sealed-court-files-jan-6-election-case.html">https://www.cnbc.com/2024/10/18/trump-sealed-court-files-jan-6-election-case.html</a>

Politics

General

Federal Judge Unseals Over 1,800 Pages Of Documents In Jack Smith's Jan. 6 Election Case Against Donald Trump; Release Follows Judge Chutkan's Rejection Of Trump's Request To Delay Until After Nov. 5 Election; Trump Faces Charges Of Conspiring To Overturn 2020 Election Results

TD Cowen analyst Gary Taylor maintains UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) with a Buy and raises the price target from $601 to $609.

TD Cowen Maintains Buy on UnitedHealth Group, Raises Price Target to $609

JP Morgan analyst Steven Alexopoulos maintains Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) with a Overweight and raises the price target from $52 to $59.

JP Morgan Maintains Overweight on Synovus Finl, Raises Price Target to $59

Wipro shares are trading higher. The company reported Q2 financial results.

Looking into the current session, Roivant Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIV#NASDAQ">ROIV</a>) shares are trading at $11.88, after a 0.25% drop. Over the past month, the stock decreased by 0.63%, but over the past year, it actually went up by 38.39%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1729264524_0.png" alt="Past Year Chart" />

<h3>Roivant Sciences P/E Compared to Competitors</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Roivant Sciences has a lower P/E than the aggregate P/E of 62.68 of the Biotechnology industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1729264524_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Markets

ROIV

Price Over Earnings Overview: Roivant Sciences

<a href="https://www.benzinga.com/news/24/09/40954708/bill-gates-ex-wife-melinda-french-gates-slams-admiration-for-sleepless-ceos-as-so-dumb">Melinda French Gates</a> has launched a new $250 million initiative to improve women's health, making headlines worldwide. This significant move is part of her $1 billion commitment to promoting women's rights, highlighting the growing recognition that women&#8217;s health issues are often overlooked and underfunded.&nbsp;
Don't Miss:
<ul>
<li>This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a></li>
<li>‘Beating the market through ethical real estate investing' —<a href="https://www.benzinga.com/money/invest-with-roots"> this platform aims to give tenants equity in the homes they live in while scoring 17.38% average annual returns for investors – here&#8217;s how to join with just $100</a></li>
</ul>
Through her organization, Pivotal Ventures, French Gates is introducing "Action for Women's Health," a fund designed to tackle the long-standing inequalities between men and women in health care.
According to Pivotal Ventures' website, women's health disparities not only affect their daily lives but can also hinder their futures. "Women's health has been underfunded, overlooked and misunderstood for far too long," the webpage states.&nbsp;
With this new fund, French Gates aims to spotlight organizations working tirelessly to address these challenges and provide them with the much-needed financial backing they deserve. "We need to do better," the site emphasizes, underscoring the urgency of the initiative.
Trending: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's an opportunity to invest at $1,000 for only $0.50/share today.</a>
French Gates' commitment to women&#8217;s health isn&#8217;t new, but recent developments in the U.S. seem to have added extra weight to her efforts. The Supreme Court's 2022 Dobbs decision, which allowed states to set their abortion laws, has prompted her to turn her attention toward domestic reproductive rights.&nbsp;
In a May op-ed for The New York Times, French Gates expressed her concerns, writing that while her previous focus was on global contraceptive access, the post-Dobbs landscape made her feel compelled to act on reproductive rights closer to home. She pointed out that a lack of funding has kept organizations defending women&#8217;s rights on the defensive while opposition forces have played offense. "I want to help level the playing field," she stated firmly.
Trending: ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a>
This sentiment was echoed in a recent interview with Bloomberg, where French Gates spoke candidly about the ongoing effects of the Supreme Court's decision to overturn Roe v. Wade. This historic 1973 ruling guaranteed abortion rights nationwide. "We're seeing the devastating impacts," she said.&nbsp;
She went further to say that she hopes the U.S. – or any country for that matter – never rolls back any law related to women's health again.
Adding to the political dimension of her advocacy, French Gates reiterated her endorsement of <a href="https://www.benzinga.com/startups/24/10/41304948/this-market-pro-says-kamala-harris-unrealized-capital-gains-tax-makes-no-sense-and-will-suck-money-o">Kamala Harris</a> for president in an interview with CBS News earlier this year. French Gates emphasized that Harris, who has been vocal about defending women's reproductive rights, contrasts starkly with other candidates.
Trending: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
"When you think about who understands the U.S. right now – who understands women's needs right now – there are stark contrasts," she told Bloomberg. Her words carry weight as one of the world's most influential philanthropists.
French Gates has spent decades shaping global philanthropic efforts, particularly through the Bill &amp; Melinda Gates Foundation, which she cofounded with her ex-husband. After stepping down from the foundation in June following their divorce, she received $12.5 billion as part of their settlement.
Read Next:
<ul>
<li>This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> 7-9% target yield with monthly dividends would you invest in it?</a></li>
</ul>

Startups

Melinda French Gates Unveils Groundbreaking $250 Million Women's Health Fund

JP Morgan analyst Bill Peterson maintains Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) with a Neutral and raises the price target from $129 to $134.

STLD

JP Morgan Maintains Neutral on Steel Dynamics, Raises Price Target to $134

FITB

Fifth Third Bancorp shares are trading lower after the company reported worse-than-expected Q3 financial results.

JP Morgan analyst Andrea Teixeira maintains Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) with a Neutral and raises the price target from $57 to $60.

JP Morgan Maintains Neutral on Molson Coors Beverage, Raises Price Target to $60

Alcoa shares are trading higher after Morgan Stanley maintained an Overweight rating on the stock and raised its price target from $48 to $49.

Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares are trading flat this week, though near 52-week highs, after the company announced a robust third-quarter fiscal 2024 net income of $6.9 billion, translating to EPS of 81 cents, <a href="https://www.benzinga.com/news/earnings/24/10/41330174/bank-of-america-q3-earnings-profit-drops-12-on-loan-loss-provisions-investment-banking-fees-soar-18">surpassing analyst expectations</a> of 77 cents.
However, the bank experienced a 12% decline in net income year-on-year, primarily attributed to higher provisions for loan losses and increasing operational expenses. 
Despite this, the bank reported a modest revenue growth, with net revenue rising 1% to $25.49 billion, exceeding the consensus estimate of $25.29 billion.
What To Know: The results were buoyed by gains in trading revenue, asset management and investment banking fees, which collectively helped offset a decrease in net interest income. This positive momentum resulted in a stock price increase following the earnings announcement.
In terms of segment performance, Consumer Banking reported net income of $2.69 billion, down from $2.86 billion year-on-year. Global Wealth and Investment Management saw a slight increase in net income to $1.06 billion from $1.03 billion, while Global Banking experienced a significant drop to $1.9 billion from $2.6 billion.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41400722/american-express-q3-earnings-profit-beats-estimate-card-spending-grows-revises-annual-outlook">American Express Q3 Earnings: Profit Beats Estimate, Card Spending Grows, Revises Annual Outlook</a>
Conversely, Global Markets reported a net income rise to $1.55 billion, up from $1.26 billion the previous year. Notably, investment banking fees surged 18% to $1.40 billion, underscoring the bank&#8217;s solid position in this competitive sector.
What Else: Despite a decrease in net interest income to $14.1 billion—down 3% year-on-year due to elevated deposit costs—Bank of America&#8217;s noninterest income rose by 5.5% to $11.4 billion. The provision for credit losses remained stable at $1.5 billion year-on-year, reflecting a cautious approach amidst changing economic conditions.
Looking ahead, Bank of America anticipates net interest income of approximately $14.50 billion in the fourth quarter, assuming a 25 basis points interest rate cut. 
This outlook comes after the Federal Reserve&#8217;s recent decision to lower the lending rate by 50 basis points, reducing the benchmark rate to 4.75%-5%. This rate cut could serve as a tailwind for banks by facilitating cheaper borrowing and encouraging lending activities.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41402089/goldman-sachs-highlights-20-top-short-squeeze-opportunities-for-q3-earnings-season">Goldman Sachs Highlights 20 Top Short-Squeeze Opportunities For Q3 Earnings Season</a>
<h2 class="wp-block-heading">How To Buy BAC Stock</h2>
By now you're likely curious about how to participate in the market for Bank of America &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, BAC has a 52-week high of $44.44 and a 52-week low of $24.96.

What's Going On With Bank Of America (BAC) Shares

Bright Minds Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRUG#NASDAQ">DRUG</a>) shares are moving higher on Friday. The company announced a $35 million non-brokered <a href="https://www.benzinga.com//node/41403404">private placement</a>.
The Details: Each share in the private placement is priced at $21.70, while pre-funded warrants are available at a price of $21.69 each. Pre-funded warrants can be converted into stock at the time the investor chooses or within five years from the closing date.
The company plans to use the gross proceeds from this private placement for general working capital as well as research and development in connection to its drug development programs.
Bright Minds stock is up more than 100%, trading on higher-than-normal volume Friday. The stock has an average session volume over the past 100 days of 2.22 million, but is currently trading on a session volume of 10.62 million. 
How To Buy Bright Minds Biosciences Stock
By now you're likely curious about how to participate in the market for Bright Minds Biosciences &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41396724/microstrategy-boss-michael-saylor-taunts-bitcoin-doubters-challenges-them-to-short-company">MicroStrategy Boss Michael Saylor Taunts Bitcoin Doubters, Challenges Them To Short Company&#8217;s Stock: &#8216;I Want You To Love Us If You Really Hate BTC&#8217;</a>
DRUG Price Action: As of Friday morning, Bright Minds stock is trading 153.5% higher at $55.01, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Image: Akava Photo from Pixabay

Movers

DRUG

What's Going On With Bright Minds Biosciences Stock Friday?

TD Cowen analyst Bill Katz maintains Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) with a Hold and raises the price target from $133 to $149.

TD Cowen Maintains Hold on Blackstone, Raises Price Target to $149

JP Morgan analyst Jeremy Tonet maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Neutral and raises the price target from $45 to $46.

JP Morgan Maintains Neutral on FirstEnergy, Raises Price Target to $46

JP Morgan analyst Andrew Steinerman maintains Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) with a Overweight and raises the price target from $300 to $304.

JP Morgan Maintains Overweight on Equifax, Raises Price Target to $304

JP Morgan analyst Kenneth Worthington maintains Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) with a Neutral and raises the price target from $125 to $146.

JP Morgan Maintains Neutral on Blackstone, Raises Price Target to $146

JP Morgan analyst Jeremy Tonet maintains American Electric Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) with a Overweight and raises the price target from $108 to $112.

JP Morgan Maintains Overweight on American Electric Power, Raises Price Target to $112

TD Cowen analyst John Blackledge maintains Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with a Buy and raises the price target from $820 to $835.

Top Stock Ideas Sent Daily — Join and Gain Your Edge

Top Stock Ideas Sent Daily — Join and Gain Your Edge

Comments

NAKAYAMA STEEL WORKS LTD by Nakayama Steel Works Ltd.

News

Latest news for NAKAYAMA STEEL WORKS LTD by Nakayama Steel Works Ltd. (OTC:NKYSF) Stock