Latest news for 9 Meters Biopharma (OTC:NMTRQ) Stock

9 Meters Biopharma Inc is a clinical-stage biopharmaceutical company focused on rare and unmet needs in gastroenterology. Its pipeline includes drug candidates for short bowel syndrome (SBS), celiac disease, and three early-stage candidates for undisclosed rare diseases and/or unmet needs. Its products include NM-002, Larazotide, NM-003, and others.

9 METERS BIOPHARMA INC by 9 Meters Biopharma, Inc.

9 Meters Biopharma Inc

Seaport Global analyst Laurie Havener downgrades Western New England (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNEB#NASDAQ">WNEB</a>) from Buy to Neutral.

News

Downgrades

Analyst Ratings

WNEB

Seaport Global Downgrades Western New England to Neutral

Lexus, the premium brand of Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), is reportedly <a target="_blank" href="https://www.benzinga.com/topic/china" rel="noreferrer noopener">planning to establish its own factory in China</a>. Initially, it aims to manufacture the Lexus UX hybrid and a new battery electric vehicle (BEV) model.
The models will be sold not only in China but also in overseas markets, including Japan, <a target="_blank" href="https://cnevpost.com/2024/07/24/lexus-seeks-to-build-wholly-owned-plant-china-ux-hybrid-bev/" rel="noreferrer noopener">reported </a>CnEV Post, citing a local media outlet.
Due to current Chinese authorities tightening controls on auto factory capacity, Lexus&#8217; proposal to establish a wholly-owned plant may face delays in finalization.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/39900435/toyota-announces-5-2b-share-buyback-from-japanese-banks-and-insurers" rel="noreferrer noopener">Toyota Announces $5.2B Share Buyback From Japanese Banks And Insurers</a>
According to a June 28 <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-28/toyota-said-to-seek-wholly-owned-lexus-factory-in-shanghai" rel="noreferrer noopener">report </a>by Bloomberg, Toyota was in discussions with Shanghai authorities regarding the potential construction of a wholly-owned plant for manufacturing Lexus&#8217; electric vehicles (EVs).
Toyota also seeks tax incentives, policy backing, land allocation, and the unique permission to independently own and manage factories in China without requiring a local joint-venture partner.
Toyota plans to utilize the plant to manufacture electric vehicles (EVs) for its premium Lexus brand.
The report added that Shanghai authorities are reportedly receptive to attracting increased foreign investment from major corporations but may require approval from the central government.
Price Action: TM shares are trading lower by 1.26% to $198.26 at last check Wednesday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39880027/should-elon-musk-be-worried-toyota-hyundai-and-ford-challenge-tesla-on-home-turf-with-more-evs-on-us" target="_blank" rel="noreferrer noopener">Should Elon Musk Be Worried? Toyota, Hyundai, And Ford Challenge Tesla On Home Turf With More EVs On US Roads As Billionaire&#8217;s Auto Giant Faces Sales Slump</a></li>
</ul>

Equities

Markets

Media

General

Toyota's Lexus Aims To Build Own Plant In China For UX Hybrid And BEV Production: Report

Cheech and Chong&#8217;s Cannabis Company confirmed Tuesday it has teamed up with Distro 10, Inc. on the debut of Cheech &amp; Chong&#8217;s Cannabis&#8217; Botanical line in Michigan. The line includes cryo-infused cannabis pre-rolls that blend botanically derived terpenes with cannabis.
The idea behind this venture into Great Lake State surpasses a product launch – it's about pushing the boundaries in marijuana innovation, the company said.
&#8220;We&#8217;ve always been about pushing boundaries and bringing our fans something special,&#8221; stated Cheech Marin, founder of Cheech &amp; Chong&#8217;s Cannabis Co. &#8220;With our cryo-infused pre-rolls and Botanical line, it&#8217;s not just about getting high; it&#8217;s an experience that you can&#8217;t get anywhere else.&#8221;
The announcement of the Botanical line&#8217;s debut in Michigan comes approximately five weeks after the company confirmed its <a href="https://www.benzinga.com/markets/cannabis/24/06/39326077/cheech-and-chong-to-hire-lobbyists-to-protect-cannabis-drinks-in-california-amid-states-industry">registration to hire lobbyists in California</a>. Owned by the iconic comedic duo, the company already offers a variety of cannabis products, including the <a href="https://www.benzinga.com/markets/cannabis/24/03/37595637/exclusive-tommy-chong-on-cheech-and-chongs-sxsw-premiere-cannabis-legalization-the-perils-of-inf">hemp-derived &#8216;High &amp; Dry&#8217; THC-infused seltzer</a>. It is now engaged in lobbying efforts to navigate California's challenging regulatory landscape and protect hemp-derived drinks.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/05/32293844/cheech-and-chong-launch-bowlmates-the-new-social-network-celebrating-cannabis-culture">Cheech And Chong Launch Bowlmates: The New Social Network Celebrating Cannabis Culture</a>
Tommy Chong, founder of Cheech &amp; Chong&#8217;s Cannabis Co., also commented on the newest milestone. &#8220;We knew Michigan was the best place to debut our Botanical line-because if there&#8217;s one thing Michiganders know, it&#8217;s good weed,&#8221; Chong stated. &#8220;And let&#8217;s face it, you guys are some classy stoners. We wanted to give them something new and different.&#8221;
The cryo infusion technique utilizes high potency oil that is crystallized, resulting in a smoother smoke compared to traditional oil infusions, the company noted.
&#8220;Distro 10 is proud to partner with Cheech &amp; Chong, icons who have transcended cannabis culture,&#8221; Celia Nasser, facility manager at Distro 10 said in a statement. &#8220;This partnership aligns with our commitment to delivering unparalleled quality and innovation at competitive prices. We believe Michigan consumers deserve the best, and that&#8217;s exactly what we&#8217;re aiming to provide.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/03/37595637/exclusive-tommy-chong-on-cheech-and-chongs-sxsw-premiere-cannabis-legalization-the-perils-of-inf">EXCLUSIVE: Tommy Chong On Cheech And Chong&#8217;s SXSW Premiere, Cannabis Legalization, The Perils Of Infused Popcorn</a></li>
</ul>
To learn more about cannabis regulation at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Photo: Courtesy of Cheech and Chong

Cannabis

'Michiganders Know Good Weed,' Says Tommy Chong As His Company Debuts Cryo-Infused Cannabis Pre-Rolls

Macro Economic Events

Legal

Global

Economics

U.S. Issues Fresh North Korea-Related Sanctions Involving China-Based People, Entities. Targeting China-Based Network Supporting North Korea's Ballistic Missile, Space Programs

Roth MKM analyst Harry Fong maintains Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) with a Buy and raises the price target from $280 to $300.

Price Target

Roth MKM Maintains Buy on Chubb, Raises Price Target to $300

Scotiabank analyst Orest Wowkodaw maintains Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) with a Sector Outperform and lowers the price target from $60 to $58.

Scotiabank Maintains Sector Outperform on Freeport-McMoRan, Lowers Price Target to $58

Home BancShares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMB#NYSE">HOMB</a>), parent company of Centennial Bank, today announced that its Board of Directors has declared a regular $0.195 per share quarterly cash dividend payable September 4, 2024, to shareholders of record August 14, 2024. This cash dividend represents a $0.015 per share, or 8.3%, increase over the $0.18 cash dividend paid during the second quarter of 2024.

Dividends

HOMB

Home BancShares Increases Quarterly Cash Dividend From $0.18 To $0.195 Per Share

TD Cowen analyst Matthew Ramsay maintains NXP Semiconductors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) with a Buy and lowers the price target from $330 to $310.

NXPI

TD Cowen Maintains Buy on NXP Semiconductors, Lowers Price Target to $310

Wingstop's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WING#NYSE">WING</a>) short percent of float has fallen 7.46% since its last report. The company recently reported that it has 1.71 million shares sold short, which is 5.83% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.39 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Wingstop Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721835021_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Wingstop has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Wingstop's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Wingstop's peer group average for short interest as a percentage of float is 10.18%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

WING

How Is The Market Feeling About Wingstop?

CDW (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDW#NASDAQ">CDW</a>) has outperformed the market over the past 10 years by 11.32% on an annualized basis producing an average annual return of 22.03%. Currently, CDW has a market capitalization of $30.93 billion. 
Buying $1000 In CDW: If an investor had bought $1000 of CDW stock 10 years ago, it would be worth $7,353.39 today based on a price of $230.15 for CDW at the time of writing.
<h3>CDW's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721835017_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In CDW 10 Years Ago Would Be Worth Today

Richtech Robotics's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RR#NYSE">RR</a>) short percent of float has fallen 23.28% since its last report. The company recently reported that it has 411 thousand shares sold short, which is 1.78% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.01 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Richtech Robotics Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721835016_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Richtech Robotics has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Richtech Robotics's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Richtech Robotics's peer group average for short interest as a percentage of float is 3.13%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Richtech Robotics?

Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) has outperformed the market over the past 20 years by 16.49% on an annualized basis producing an average annual return of 24.77%. Currently, Deckers Outdoor has a market capitalization of $22.05 billion. 
Buying $100 In DECK: If an investor had bought $100 of DECK stock 20 years ago, it would be worth $8,899.08 today based on a price of $867.66 for DECK at the time of writing.
<h3>Deckers Outdoor's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721835012_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

DECK

$100 Invested In This Stock 20 Years Ago Would Be Worth $8,900 Today

Union Pacific's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) short percent of float has fallen 5.68% since its last report. The company recently reported that it has 5.04 million shares sold short, which is 0.83% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.92 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Union Pacific Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721835011_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Union Pacific has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Union Pacific's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Union Pacific's peer group average for short interest as a percentage of float is 7.58%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Union Pacific?

Shares of Madison Square Garden Entertainment Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGE#NYSE">MSGE</a>) climbed in <a href="https://www.benzinga.com/general/sports/24/01/36670289/new-york-knicks-owner-faces-lawsuit-could-legal-troubles-lead-to-sale-of-nba-team-madison-square-g">early trading on Wednesday</a>.
The company is well-positioned to beat fiscal 2025 consensus expectations for revenues, adjusted operating income and free cash flows, according to Goldman Sachs&#8217; Stephen Laszczyk.
The Madison Square Garden Analyst: Laszczyk upgraded the rating for Madison Square Garden from Neutral to Buy, while raising the price target from $41 to $45.
The Madison Square Garden Thesis: The company faces a strong event bookings environment at its arena and theaters, with upside driven by "a combination of strong supply of concert tours (across both legacy and new artists) and fan demand for live entertainment," Laszczyk said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
There is room for robust growth in Christmas Spectacular in fiscal 2025, despite the record performance in fiscal 2024, the analyst stated. He estimates Christmas Spectacular revenues of around $157 million for fiscal 2025, "driven by higher show-count, modest increases in sell-through, and increased ticket pricing."
"We model Sponsorship revenues of $286M in FY2025 (up 7.5% YoY vs just 1% growth in FY2024)," Laszczyk wrote.
The recent selloff in the stock offers "an opportunity for investors to gain exposure to a unique, pure-play venues business with an attractive financial model," he added.
MSGE Price Action: Shares of Madison Square Garden Entertainment had risen by 1.10% to $39.40 at the time of publication on Wednesday.
Now Read: 
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<li><a href="https://www.benzinga.com/personal-finance/24/07/39935076/warren-buffett-says-inflation-is-never-gone-its-always-in-remission-its-something-that-is-human-">Warren Buffett Says &#8216;Inflation Is Never Gone It&#8217;s Always In Remission. It&#8217;s Something That Is Human-Made And Governments Can Create&#8217;</a></li>
</ul>

Analyst Color

Long Ideas

Upgrades

Events

Movers

MSGE

Madison Square Garden Has Room For 'Robust Growth' Thanks To Concert Lineup, Christmas Spectacular: Analyst

Roth MKM analyst Craig Irwin maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Neutral and maintains $85 price target.

TSLA

Roth MKM Maintains Neutral on Tesla, Maintains $85 Price Target

Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) shares are trading lower after the company reported <a href="https://www.benzinga.com/pressreleases/24/07/b39926913/wabtec-reports-second-quarter-2024-results-raised-and-tightened-adjusted-eps-guidance" target="_blank" rel="noreferrer noopener">second-quarter FY24 results</a>.
Sales growth&nbsp;of&nbsp;9.8%&nbsp;Y/Y to&nbsp;$2.644 billion,&nbsp;marginally beating the consensus of&nbsp;$2.643 billion.
Sales growth&nbsp;was driven&nbsp;by higher sales in Freight (+13.1%&nbsp;Y/Y) and Transit (+2.0%&nbsp;Y/Y) segments.
The adjusted gross margin expanded 290 basis points to&nbsp;33.3%, and the adjusted operating margin was 19.3%, up 290 basis points.&nbsp;
At the end of the quarter, the total backlog stood at $22.08 billion, down 1.6% Y/Y. Adjusted EPS of $1.96 (+39.0% Y/Y) <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">topped the consensus of $1.88.</a>
During the quarter, the company returned&nbsp;$235 million&nbsp;to shareholders via share repurchases and dividends.&nbsp;
Operating cash flow was&nbsp;$235 million&nbsp;versus&nbsp;$115 million a year ago. Wabtec held cash, cash equivalents and restricted cash of $595 million and total debt of $4.00 billion&nbsp;at the end of the quarter.&nbsp;
Rafael Santana, Wabtec&#8217;s President and CEO said, &#8220;Demand on our end markets continues to be strong and we have significant opportunities for further growth given the quality of our products and the productivity and reliability that we provide for our customers.&#8221;
FY24&nbsp;Guidance: Wabtec raised the adjusted EPS&nbsp;outlook&nbsp;to&nbsp;$7.20&nbsp;to&nbsp;$7.50 (<a target="_blank" href="https://www.benzinga.com//node/38403160" rel="noreferrer noopener">from $7-$7.40 earlier</a>)&nbsp;versus the consensus of&nbsp;$7.39.
The company reiterated sales of&nbsp;$10.25 billion-$10.55 billion&nbsp;versus a consensus of&nbsp;$10.375 billion.
Dividend: On July 18, the Board of Directors declared a regular quarterly dividend per share of $0.20, payable on August 28, 2024, to holders of <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39849104/wabtec-declares-regular-quarterly-common-dividend" rel="noreferrer noopener">record as of August 14, 2024</a>.
Investors can gain exposure to the stock via&nbsp;Janus Henderson U.S. Sustainable Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSPX#NYSE">SSPX</a>) and IShares Environmental Infrastructure And Industrials ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EFRA#NASDAQ">EFRA</a>).
Price Action: WAB shares are down 4.46% at $160.61 at the last check Wednesday.

Earnings

Guidance

Buybacks

EFRA

SSPX

Wabtec Reports Solid Gains In Freight And Transit, Raises EPS Outlook Despite Slight Backlog Decline

Roth MKM analyst Philip Shen reiterates Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) with a Buy and maintains $140 price target.

Reiteration

ENPH

Roth MKM Reiterates Buy on Enphase Energy, Maintains $140 Price Target

WIIM

AMAT

ASML

AVGO

INTC

KLAC

LRCX

MPWR

MRVL

NVDA

QCOM

Shares of semiconductor stocks are trading lower amid recent earnings in the sector and concerns over potential China restrictions.

Loop Capital analyst Alton Stump maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Buy and raises the price target from $106 to $120.

Loop Capital Maintains Buy on Crown Holdings, Raises Price Target to $120

Benchmark analyst Nathan Martin reiterates Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Hold.

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9 Meters Biopharma

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