Latest news for Obocon (OTC:OBCN) Stock

Obocon Inc formerly known as Clancy Systems International Inc offers an Android-based solution for issuing parking citations. The company's system provides ticket issuance, data management, noticing, enforcement, payment processing, permitting, and all other essential modules for a complete ticket administration program. Its services include Automated notice letter mailings, Real-time stole/wanted vehicle alerts, Dispute resolution, Parking operation privatization, Online parking permit website and fulfillment and Park by Phone complimenting metered parking.

Obocon Inc

WIIM

SPOT

Spotify Technology shares are trading higher after multiple firms raised their respective price targets on the stock. The stock may be moving on continued strength after the company yesterday reported better-than-expected Q2 EPS results.

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IPOs

Trading Ideas

OneStream IPO Shares Indicating $31.95/Share; IPO Priced At $20/Share On 24.5M Shares

<ul>
<li>Meta has introduced its new AI model, Llama 3.1 405B</li>
<li>Unlike other proprietary AI systems, Llama 3.1 405B is freely available to the public.</li>
<li>Meta&#39;s stock started the year strong, climbing 38%.</li>
</ul>
Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) has unveiled its latest AI innovation, Llama 3.1 405B, marking a significant step towards making artificial intelligence technologies more accessible.
This new model is freely available to the public, unlike other proprietary AI systems that often require payment or are limited to specific corporate uses.
By releasing Llama 3.1 405B as open-source, Meta allows developers worldwide to access and customize the AI without financial barriers or corporate restrictions.
The model is versatile and can easily integrate into various operational environments. Users can fine-tune the model independently, ensuring sensitive data remains private.
This approach demonstrates Meta&rsquo;s commitment to user privacy and customization freedom, empowering developers to innovate independently.
Strategically, the release of Llama 3.1 405B highlights Meta&rsquo;s support for open-source AI as essential for fair technological progress.
By promoting an open development ecosystem, Meta aims for a future where AI tools boost productivity, foster creativity, and improve quality of life.
This initiative aligns with CEO Mark Zuckerberg&rsquo;s vision of using open-source AI to drive societal and economic growth.
<img alt="2024-07-24_13-01-06.png" src="https://www.benzinga.com/files/u517520/2024-07-24_13-01-06.png" style="height:308px; width:624px" />
Looking at Meta&#39;s financial journey, the company&#39;s stock in 2024 started strong, with a 38% increase by February. While the growth has slowed since, the stock still gained another 10% by July. Recently, however, there&#39;s been a slight decline of over 9% from the July high.
As the stock hovers around $500, a significant psychological barrier, breaking through this level could indicate a bullish future for Meta, potentially pushing the stock to new record highs.
After the closing bell on Tuesday, July 23, the stock closed at $488.69, trading up by 0.26%.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

How Meta's Game-Changing AI Model Could Enhance Developer Freedom, Propel Privacy Standards, And Surge Stock Performance

Goldman Sachs analyst Toshiya Hari maintains Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) with a Sell and raises the price target from $157 to $176.

Price Target

Analyst Ratings

Goldman Sachs Maintains Sell on Texas Instruments, Raises Price Target to $176

JP Morgan analyst Doug Anmuth maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Overweight and raises the price target from $375 to $425.

JP Morgan Maintains Overweight on Spotify Technology, Raises Price Target to $425

Goldman Sachs analyst Duffy Fischer maintains Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) with a Buy and raises the price target from $344 to $390.

Goldman Sachs Maintains Buy on Sherwin-Williams, Raises Price Target to $390

Goldman Sachs analyst Toshiya Hari maintains Seagate Tech Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) with a Neutral and raises the price target from $96 to $107.

Goldman Sachs Maintains Neutral on Seagate Tech Hldgs, Raises Price Target to $107

TD Cowen analyst Gary Taylor maintains Centene (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) with a Buy and lowers the price target from $91 to $80.

TD Cowen Maintains Buy on Centene, Lowers Price Target to $80

Freeport McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) has announced a $7.5 billion expansion of its El Abra copper mine in northern Chile. Freshly-appointed CEO Kathleen Quirk made this announcement during an earnings call on Tuesday that<a href="https://www.benzinga.com/news/earnings/24/07/39912302/freeport-mcmorans-q2-earnings-boosted-by-strong-prices-amid-indonesian-shipping-delays"> exceeded expectations</a>.
"We're going to continue to review the economics in the context of market conditions, but believe this is a project that will be required in the future to support long-term copper demand trends," Quirk <a href="https://mms.businesswire.com/media/20240722426133/en/2193299/1/FCX_240723_2Q_2024_Earnings_Release.pdf">clarified</a> to analysts on the call.
El Abra, located in the Antofagasta region, is co-owned by Freeport McMoRan with a 51% stake, while the remaining 49% is held by Chilean state-run Codelco, one of the world's largest copper producers. The mine produced 98,400 metric tons of copper last year, according to<a href="https://www.elabra.cl/informegestion2023/nuestra-operacion.php"> self-published</a> reports.
Now Read:<a href="https://www.benzinga.com/news/large-cap/24/07/39910527/vale-invests-149m-in-canadian-nickel-copper-mine-projects-1-5-million-tons-output-by-2025"> Vale Invests $149M In Canadian Nickel-Copper Mine, Projects 1.5 Million Tons Output By 2025</a>
The project involves a significant expansion, with a new concentrator plant and desalination infrastructure planned to meet water requirements. The expansion aims to boost production to 340,000 metric tons of copper annually by 2025, up from the current output. The project will also yield approximately 4,100 metric tons of molybdenum per year.
Chairman Richard Adkerson noted Codelco's eagerness regarding the expansion plan but emphasized the need for further dialogue with Chilean President Gabriel Boric.
"Codelco is anxious for us to move forward," Adkerson said, adding that Boric has proven to be supportive of the mining industry. "The tone is significantly changed from his initial election period."
The expansion will involve significant infrastructural developments, including a new concentrator plant and pipelines for water requirements. Additionally, investments in desalinization are part of the plan. The project will yield 750 million pounds of copper and 9 million pounds of molybdenum annually, highlighting its potential to meet the growing global demand for these metals.
This ambitious expansion aligns with Quirk&#8217;s strategy of<a href="https://www.benzinga.com/news/24/06/39294066/freeport-mcmoran-plans-production-ramp-up-its-just-a-matter-of-time-new-ceo-says"> pursuing internal growth</a> and capitalizing on existing assets. Since becoming CEO <a href="https://www.benzinga.com/news/24/02/36987237/freeport-mcmoran-names-35-year-company-stalwart-kathleen-quirk-as-new-ceo">earlier this year</a>, she focused on strengthening the existing projects instead of pursuing growth through mergers and acquisitions.
In addition to announcing the expansion, Freeport McMoran has declared a dividend and initiated stock buybacks. On June 26, 2024, the company&#8217;s board declared cash dividends totaling $0.15 per share on its common stock. This includes a $0.075 per share quarterly base cash dividend and a $0.075 per share quarterly variable, performance-based cash dividend, to be paid on August 1, 2024.&nbsp;
In July 2024, Freeport acquired 1.2 million shares of its common stock for a total cost of $59 million, further demonstrating the company&#8217;s commitment to returning value to its shareholders.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/commodities/24/07/39894211/liberty-gold-ceo-remains-bullish-but-political-developments-will-influence-markets-direction"> Liberty Gold CEO Remains Bullish, But &#8216;Political Developments Will Influence Market&#8217;s Direction&#8217;</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Photo: Shutterstock

Guidance

Financing

Commodities

Freeport McMoRan Bets On Growth, Plans $7.5B Expansion In Chile

Goldman Sachs analyst George Tong maintains MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) with a Neutral and raises the price target from $526 to $590.

MSCI

Goldman Sachs Maintains Neutral on MSCI, Raises Price Target to $590

WFRD

Weatherford International shares are trading lower after the company reported worse-than-expected Q2 financial results.

ALKS

Alkermes shares are trading higher after the company reported better-than-expected Q2 financial results.

Bausch Health Companies Shares Resume Trade

JP Morgan analyst Brian Ossenbeck maintains United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) with a Neutral and lowers the price target from $150 to $144.

JP Morgan Maintains Neutral on United Parcel Service, Lowers Price Target to $144

PTGX

Protagonist Therapeutics shares are trading higher after BTIG maintained a Buy rating on the stock and raised its price target from $41 to $51.

SPDR Dow Jones Industrial Average ETF Trust

Major indexes are lower as Tesla and Alphabet shares drop on earnings.

Goldman Sachs analyst George Tong maintains CoStar Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) with a Buy and lowers the price target from $108 to $93.

CSGP

Goldman Sachs Maintains Buy on CoStar Gr, Lowers Price Target to $93

Another batch of Bitcoin (CRYPTO: BTC by <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39844029/mt-gox-creditors-lean-towards-holding-bitcoin-new-poll-reveals">defunct exchange Mt. Gox</a>, totaling $2.8 billion, was moved on Wednesday. 
What Happened: This follows similar transfers on Tuesday, raising concerns about a potential price drop due to selling pressure.
According to <a href="https://platform.arkhamintelligence.com/explorer/address/12Gws9EsEiDZLinu2SWkHdk7TcobjTau9u">data </a>from Arkham Intelligence, Mt. Gox moved 37,400 BTC, valued at $2.5 billion, from its primary wallet to a new wallet identified as &#8220;12Gws9E.&#8221; 
An additional $300 million was transferred to an existing cold wallet, and another $300 million was moved to wallet &#8220;1MzhW,&#8221; with $130 million of that sum being sent to the crypto exchange Bitstamp. 
Despite these movements, Bitcoin prices held steady. 
Mt. Gox currently holds $6 billion worth of Bitcoin, down from $9 billion as of July 10. During this period, Bitcoin has largely fluctuated between $66,000 and $67,000. 
This activity echoed transactions from the previous day when Mt. Gox transferred $130 million to Bitstamp and relocated $2.5 billion across different wallets. 
Notably, several creditors on the crypto exchange Kraken reported receiving Bitcoin repayments in their personal accounts during U.S. hours.
The price of Bitcoin has remained largely unaffected by the latest transfer, rising from just below $66,000 in the early morning hours to around $66,500 at the time of writing.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39929556/ethereum-etfs-shine-on-day-1-with-107m-net-inflows-but-what-about-the-bitcoin-etfs">Ethereum ETFs Shine On Day 1 With $107M Net Inflows — But What About The Bitcoin ETFs?</a>
Why It Matters: The repayments mark the beginning of Mt. Gox&#8217;s efforts to compensate creditors affected by a 2014 hack.
Over the next few months, more than $9 billion worth of Bitcoin and $73 million worth of Bitcoin Cash will be distributed to traders.
A large number of community members reported receiving their Bitcoin from Mt. Gox on Kraken, while Bitstamp users are still waiting. 
Kraken confirmed the receipt of creditor funds from the Mt. Gox trustee and estimated that it would take 7-14 days for the funds to be fully deposited into user accounts. 
&#8220;We have successfully distributed Bitcoin and Bitcoin Cash from the Mt. Gox estate back to creditors,&#8221; Kraken stated.
As the crypto market continues to navigate these developments, industry experts and enthusiasts are looking forward to Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39915620/ethereum-may-be-headed-for-a-sell-off-after-etfs-launched-10x-research">Ethereum May Be Headed For A Sell-Off After ETFs Launched: 10x Research</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$2.8B Mt. Gox Bitcoin On The Move Again — How Does BTC React?

By <a href="https://roboforex.com/?utm_source=benzinga.com&amp;utm_medium=pr&amp;utm_campaign=rf_en_external_article_24072024&amp;utm_content=analysis&amp;utm_term=forecast">RoboForex</a> Analytical Department
Brent crude oil prices have continued their downward trajectory, reaching 81.14 USD per barrel as of Wednesday. This marks the fifth consecutive session of decline, primarily influenced by significant reductions in US oil inventories. The latest data from the API indicates a decrease of 3.9 million barrels, surpassing the forecasted reduction of 2.5 million barrels and marking the fourth consecutive week without a correction.
Concurrently, developments in the Middle East are also impacting oil prices. There is emerging optimism regarding ceasefire negotiations between Israel and Hamas, which has helped alleviate some geopolitical pressures on oil prices. Additionally, concerns about potential disruptions in oil supplies due to forest fires in Canada influence market dynamics, albeit helping to stabilise prices momentarily.
The strength of the US dollar continues to make commodities less attractive, as a stronger dollar typically reduces the purchasing power of other currencies in the commodities market.
<h3>Technical Analysis Of Brent</h3>
<a href="https://www.benzinga.com/files/u117641/brenth4_53.png"><img alt="" src="https://www.benzinga.com/files/u117641/brenth4_53.png" style="height:278px; width:624px" /></a>
Brent oil is forming a consolidation range around the 80.80 USD level with an extension down to 79.76 USD. A further decline to 79.33 USD may occur. If the price exits this range on the upside, we might see the initiation of a growth wave targeting 84.24 USD. The MACD indicator supports this scenario, showing potential for new growth as it prepares at the lows.
<a href="https://www.benzinga.com/files/u117641/brenth1_52.png"><img alt="" src="https://www.benzinga.com/files/u117641/brenth1_52.png" style="height:278px; width:624px" /></a>
The market has established a consolidation range around the 81.84 USD level. The target level of 79.76 USD has been reached with a downward exit. We anticipate a new consolidation range forming at these lows, potentially followed by another decline to 79.33 USD. If the price exits the range upward, a rebound to 81.44 USD could occur. The Stochastic oscillator, currently below the 50 level and heading towards 20, supports this potential downward movement.
Investors and market analysts must closely monitor these developments, as any significant changes in US monetary policy or geopolitical events could further influence oil prices.
Disclaimer
Any forecasts contained herein are based on the author&#39;s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Markets

General

Brent Oil Prices Decline Amid Inventory Reductions And Middle East Optimism

On Wednesday,&nbsp;Tenet Healthcare Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) reported first-quarter sales of $5.37 billion, up around 7% year over year, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $5.15 billion</a>.
Tenet Healthcare operates hospitals and healthcare facilities.
&#8220;Our results through the second quarter, which have significantly exceeded our expectations, have been driven by volume and revenue growth as well as sustained fundamentally strong operating performance,&#8221; said Saum Sutaria, Chairman and CEO.
See Also: <a href="https://www.benzinga.com/news/large-cap/24/07/39931211/mortgage-rates-hit-lowest-point-since-february-as-investors-anticipate-fed-rate-cuts">Mortgage Rates Hit Lowest Point Since February As Investors Anticipate Fed Rate Cuts</a>
Adjusted EBITDA in the second quarter of 2024 was $945 million compared to $843 million a year ago, reflecting strong same-hospital admission growth, strong ambulatory net revenue per case growth, favorable payer mix, and improved contract labor costs, partially offset by higher medical fees and the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39927191/tenet-reports-strong-second-quarter-2024-results-raises-2024-financial-outlook" rel="noreferrer noopener">impact of hospital divestitures</a>.
The company&#8217;s board of directors has authorized a $1.5 billion share repurchase program.
Ambulatory Care net operating revenues increased 21.1% year-over-year to $1.14 billion, driven by strong net revenue per case growth, facility acquisitions, and increased service lines.
Surgical business same-facility system-wide net patient service revenues increased 7.1%, with cases up 0.2% and net revenue per case up 6.8%. Net revenue per case growth was driven by higher acuity associated with a favorable case mix and a favorable payer mix.
Hospital Operations and Services revenues declined 4.3% to $3.96 billion, primarily due to the impact of hospital divestitures in first quarter 2024, partially offset by strong same hospital admissions growth, favorable payer mix, and improved pricing yield.
Outlook: Tenet Healthcare raised its fiscal year 2024 revenues guidance to $20.6 billion—$21 billion, <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38523582/why-is-hospital-chain-operator-tenet-healthcare-stock-soaring-on-tuesday" rel="noreferrer noopener">up from prior guidance</a> of $20 billion—$20.4 billion and the consensus of $20.49 billion.
The guidance includes Hospital segment sales of $16.28 billion—$16.53 and Ambulatory Segment sales of $4.33 billion—$4.48 billion versus prior guidance of $15.85 billion—$16.1 billion and $4.15 billion—$4.3 billion, respectively.
The company forecasts adjusted EPS of $10.41-$11.12 compared to prior guidance of $8.37-$9.41 and consensus of $8.98.
Tenet Healthcare expects a third-quarter adjusted EPS of $2.16-$2.58 and revenues of $5 billion—$5.1 billion, respectively, versus the consensus of $1.67 and $4.89 billion, respectively.
Price Action:&nbsp;THC stock is up 5.28% at $146 at&nbsp;last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39930516/thermo-fisher-q2-earnings-marginal-revenue-dip-completes-olink-acquisition-lifts-annual-profit-outl" target="_blank" rel="noreferrer noopener">Thermo Fisher Q2 Earnings: Marginal Revenue Dip, Completes Olink Acquisition, Lifts Annual Profit Outlook</a>.</li>
</ul>

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