SPDR Russell 1000 Momentum Focus ETF (ARCA: ONEO)

Latest news for SPDR Russell 1000 Momentum Focus ETF (ARCA:ONEO)

SPDR Russell 1000 Momentum Focus ETF

Technology

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Financial Services

Energy

Healthcare

Basic Materials

Consumer Defensive

Real Estate

Communication Services

Utilities

Other

Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to reflect the performance of a segment of large-capitalization U.S. equity securities demonstrating a combination of core factors (high value, high quality, and low size characteristics), with a focus factor comprising high momentum characteristics.

Pultegroup Inc.

Mckesson Corp.

Arch Capital Group Ltd.

Lennar Corp. Class A

Expedia Group Inc.

Diamondback Energy Inc.

Godaddy Inc. Class A

Casey's General Stores Inc

Dr Horton Inc.

Vistra Energy Corp.

Long Ideas

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ONEO

Momentum ETFs: They&#39;ll Work Until They Don&#39;t

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State Street Unveils Big Smart Beta Expansion

ONEOK Inc

RBC Capital analyst Jon Arfstrom maintains Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) with a Outperform and lowers the price target from $54 to $51.

Price Target

Analyst Ratings

RBC Capital Maintains Outperform on Webster Finl, Lowers Price Target to $51

Goldman Sachs analyst Brian Lee maintains Pentair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) with a Neutral and raises the price target from $85 to $93.

Goldman Sachs Maintains Neutral on Pentair, Raises Price Target to $93

Shares of General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39934099/general-dynamics-hits-high-revenue-but-faces-earnings-hiccup-in-q2-details">second-quarter EPS results</a>.
Revenue for the quarter increased 18% year-over-year to $11.976 billion, beating the consensus of $11.438 billion. EPS of $3.26 (up 20.7% YoY) missed the consensus of $3.29, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
General Dynamics shares declined 5.2% to $279.26 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>NuZee, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) jumped 192% to $3.01.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) rose 142.4% to $3.0799 after falling over 22% on Tuesday.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) surged 134% to $0.0609.</li>
<li>Bone Biologics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBLG#NASDAQ">BBLG</a>) gained 86% to $2.3300.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) gained 74.5% to $10.82.</li>
<li>Pieris Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIRS#NASDAQ">PIRS</a>) jumped 73.4% to $13.77 after the company announced that the company entered into a definitive merger agreement with Palvella Therapeutics.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) gained 50% to $0.60 after licensing partner Pfizer&#8217;s Phase 3 AFFINE trial evaluating giroctocogene fitelparvovec met its primary endpoint.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) gained 28% to $3.2212.</li>
<li>KORE Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NASDAQ">KORE</a>) gained 21.8% to $2.84.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) rose 20.5% to $6.87 after reporting unaudited 2024 second quarter and first half financial results.</li>
<li>PROG Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) climbed 20.4% to $41.71 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY24 guidance above estimates.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 19.4% to $94.69. The company on Monday announced a private placement financing.</li>
<li>Silynxcom Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NYSE">SYNX</a>) rose 18.4% to $3.71. Silynxcom received $815,000 in orders from Israel Defense Forces since July 2024.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares gained 16.4% to $1.0009 after the company announced steady progress in its due diligence efforts in its proposed reverse merger with COVIRIX Medical and anticipates completion by the end of August 2024.</li>
<li>Flex Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) gained 10.9% to $32.96 after the company reported better-than-expected second-quarter financial results.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) climbed 10.5% to $249.78 after the company reported better-than-expected second-quarter financial results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) gained 9.6% to $333.95 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 9.2% to $113.18 after the company reported second-quarter financial results.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) gained 8.7% to $0.1809. Allarity Therapeutics revealed on Monday it received a "Wells Notice" from the U.S. Securities and Exchange Commission (SEC).</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) gained 7.9% to $18.61 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) shares surged 7.5% to $113.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) gained 7% to $26.69 after the company reported better-than-expected <a>second-quarter </a>financial results.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) gained 6.8% to $148.17 after the company reported better-than-expected second-quarter financial results and the company and raised its FY24 guidance above estimates. Also, the company announced it authorized a $1.5 billion share buyback.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) gained 3.1% to $18.78 following second-quarter earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares dipped 74.4% to $1.27. Azitra announced the pricing of $10.0 million public offering.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) fell 58% to $2.42.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) dipped 43.8% to $4.25.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) fell 37.2% to $2.6199 after the company announced the pricing of a $2 million public offering of 469,340 common shares at $4.24 a share.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) dipped 34.2% to $0.1414.</li>
<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) declined 26.9% to $57.46 after the company reported worse-than-expected quarterly financial results. Also, the company issued its FY25 EPS guidance below estimates.</li>
<li>Conn&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CONN#NASDAQ">CONN</a>) shares fell 26.7% to $0.3717 as the company announced plans to close 71 locations across 13 states.</li>
<li>Vintage Wine Estates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VWE#NASDAQ">VWE</a>) fell 24.5% to $0.0868 after the company announced bankruptcy filing and voluntary delisting and SEC deregistration.</li>
<li>Snow Lake Resources Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITM#NASDAQ">LITM</a>) declined 24.2% to $0.7350 after the company issued an update on Black Lake Uranium Project.</li>
<li>AtlasClear Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NASDAQ">ATCH</a>) shares declined 23.8% to $0.4228 after gaining 11% on Tuesday.</li>
<li>Verastem, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>) shares fell 22.7% to $2.7750 after the company reported pricing of $55.0 million public offering of common stock, warrants and pre-funded warrants.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) dipped 17.8% to $10.75 after the Phase 2 KINETIC 2 study of SAGE-324 did not demonstrate a statistically significant dose-response relationship on the primary endpoint.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) dipped 13% to $11.33.</li>
<li>SFL Corporation Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFL#NYSE">SFL</a>) shares fell 12.3% to $12.23 after the company announced an offering of 8 million common shares.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell 12% to $216.78. Tesla reported weaker-than-expected earnings for its second quarter, while sales topped estimates. The company reported second-quarter deliveries of 443,956 vehicles and production of 410,831 vehicles, down 5% and 14% year-over-year, respectively.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) dipped 11.3% to $31.90 as the company announced the launch of secondary public offering of ordinary shares.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) fell 10.2% to $15.29.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) dipped 9.5% to $14.41.</li>
<li>Chijet Motor Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NASDAQ">CJET</a>) fell 9.3% to $4.61 after jumping 55% on Tuesday.</li>
<li>Allegro MicroSystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>) dipped 9.1% to $25.14 after the company announced a primary offering of 25 million shares.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) shares declined 8.8% to $4.2150 after the company announced the departure of CCO Anil Kapur.</li>
<li>The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) fell 8.4% to $92.45.</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) fell 8.2% to $56.97.</li>
<li>Deutsche Bank Aktiengesellschaft (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) shares fell 8% to $15.69 following second-quarter earnings.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) declined 8% to $14.25.</li>
<li>Weatherford International plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) dipped 7.6% to $123.57 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Roper Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NYSE">ROP</a>) fell 7.4% to $532.08 after the company reported worse-than-expected second-quarter sales results and issued third-quarter adjusted EPS guidance below estimates.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) shares fell 7.1% to $0.5479 after gaining around 23% on Tuesday.</li>
<li>Fortive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) fell 6.9% to $71.36 after the company reported worse-than-expected second-quarter sales results and issued FY24 sales guidance below estimates.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) fell 5.5% to $367.84 after Piper Sandler downgraded the stock from an Overweight to Neutral and lowered its price target from $494 to $404.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares declined 4.1% to $174.29. Alphabet reported upbeat earnings and sales results for its second quarter on Tuesday. The company also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares fell 3.8% to $254.72 following third-quarter results.</li>
</ul>
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Movers

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Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Goldman Sachs analyst Kate McShane maintains Genuine Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) with a Neutral and lowers the price target from $166 to $162.

Goldman Sachs Maintains Neutral on Genuine Parts, Lowers Price Target to $162

U.S. chip stocks led by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) are trading lower on Wednesday.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Google parent Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) second-quarter earnings on Tuesday failed to impress the Street and are dragging the stocks lower.
Tesla, a key Nvidia customer, reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l" rel="noreferrer noopener">second-quarter revenue</a> growth of 2% year-on-year to $25.5 billion, beating the consensus estimate of $24.7 billion. EPS of $0.52 lagged the consensus estimate of $0.62.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104036/newplot-58.png" alt="" class="wp-image-454436" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104036/newplot-58.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104036/newplot-58-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Tesla&#8217;s second-quarter deliveries declined by 5% to 443,956. The production decreased by 14% to 410,831.
The EV giant expects quarter-on-quarter increases in production in the third quarter. The stock is down 12% Wednesday.
Alphabet, another crucial Nvidia client, reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39917921/alphabet-q2-earnings-revenue-beat-eps-beat-innovation-at-every-layer-of-the-ai-stack-and-more" rel="noreferrer noopener">second-quarter revenue</a> growth of 14% year-on-year to $84.7 billion, beating the analyst consensus of $84.2 billion. EPS of $1.89&nbsp;beat the analyst consensus of $1.85.
Google Search revenue was $48.5 billion (<a target="_blank" href="https://abc.xyz/investor/" rel="noreferrer noopener">up from</a> $42.6 billion) under Google Advertising, which reached $64.6 billion (up from $58.1 billion). Google Cloud revenue was $10.3 billion (up from $8.0 billion). The stock is down 4% Wednesday.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104301/newplot-59.png" alt="" class="wp-image-454445" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104301/newplot-59.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24104301/newplot-59-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The growing <a target="_blank" href="https://www.benzinga.com/government/24/07/39857131/ai-chip-stocks-nvidia-amd-taiwan-semi-saw-a-selloff-this-week-whats-going-on" rel="noreferrer noopener">geopolitical tensions between</a> the U.S. and China, triggered by the Western counterpart&#8217;s advanced semiconductor sanctions on the Asian counterpart and Presidential candidate Donald Trump&#8217;s comments, have already taken a toll on the semiconductor sector since last week. <a target="_blank" href="https://www.benzinga.com/government/24/07/39901098/apple-and-micron-leaders-visit-beijing-as-us-intensify-advanced-semiconductor-sanctions-report" rel="noreferrer noopener">Also this week</a>, key U.S. tech giants visited Beijing despite the semiconductor sanctions, highlighting the importance of China as a critical semiconductor market.
The VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), which represent the broader semiconductor industry, are down over 2% on Wednesday.
Photo via Shutterstock

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Chip Stocks Nvidia, AMD And Others See More Selloff On Wednesday - What's Going On?

Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) shares are<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> trading higher on Wednesday.</a>
Garmin has announced a <a target="_blank" href="https://www.garmin.com/en-US/newsroom/press-release/automotive/garmin-announces-collaboration-with-arctic-cat-on-snowmobile-display/" rel="noreferrer noopener">partnership</a> with Arctic Cat Inc., a Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) subsidiary renowned in snowmobiles and powersports, to integrate the Arctic Cat G8 display powered by Garmin into select 2025 snowmobile models.
Garmin and Arctic Cat continue their collaboration with the Arctic Cat G8, marking their latest joint effort in display technology for snowmobiles and off-road vehicles, extending their partnership from install kits introduced as early as 2021.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, GRMN stock has gained over 64% in the past year. Investors can gain exposure to the stock via&nbsp;Global X Internet Of Things ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNSR#NASDAQ">SNSR</a>) and&nbsp;Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39928846/us-stocks-could-open-sharply-lower-as-tesla-alphabet-earnings-offer-no-cheer-analyst-says-this-bode" rel="noreferrer noopener">US Stocks Could Open Sharply Lower As Tesla, Alphabet Earnings Offer No Cheer: Analyst Says This Bodes Well For Small-Caps, ‘Only Takes A Small Spark To Ignite A Powerful Move'</a>
The Arctic Cat G8, equipped with Garmin Tread GPS technology, integrates navigation, vehicle performance data, and Group Ride Radio for snowmobilers.
The Arctic Cat G8 introduces various features designed to enhance every snowmobile adventure. The display offers customizable data fields such as coolant temperature, fuel level, speedometer, odometer, RPMs, and more, providing essential information to the driver.
It comes pre-loaded with detailed snowmobile trail maps covering the U.S. and Canada, featuring points of interest like restaurants, shelters, gas stations, campsites, and detailed topography and land designations, including satellite imagery.
Garmin has established strategic partnerships with major automakers supplying a range of hardware and software solutions for their vehicles.
Price Action: GRMN shares are trading higher by 0.91% to $173.67 at last check Wednesday.
Photo via Company
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39929250/whats-going-on-with-chinese-ev-maker-nio-shares-on-wednesday" target="_blank" rel="noreferrer noopener">What's Going On With Chinese EV Maker NIO Shares On Wednesday?</a></li>
</ul>

Equities

General

GRMN

SNSR

Garmin Revs Up Winter Fun: Teams Up with Arctic Cat For High-Tech Snowmobile Displays In 2025 Models

Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) analysts remain largely positive on the tech giant despite the stock selling off on second-quarter earnings. Multiple analysts maintained positive ratings following the print, highlighting <a href="https://www.benzinga.com/markets/equities/24/06/39509885/customers-like-googles-ai-overviews-but-still-prefer-chatgpt-at-work-survey">generative AI-related strength in Search</a>.
What Happened: Alphabet reported financial results for the second quarter after the market close on Tuesday. The company delivered revenue of $84.742 billion and earnings of $1.89 per share, beating analyst estimates.
Total revenue was up 14% year-over-year, driven by ongoing strength in Search and momentum in Cloud, which is what analysts are highlighting Wednesday morning.
BMO Capital Markets analyst Brian Pitz reiterated an <a href="https://www.benzinga.com/analyst-stock-ratings">Outperform rating</a> and price target of $222, citing accelerating Search and Cloud revenue on the back of <a href="https://www.benzinga.com/topic/ai">AI</a>-related contributions.
The BMO analyst noted Search revenue accelerated 20 basis points quarter-over-quarter on more difficult comparisons, implying that advertisers see improved AI-related return on ad spend. The analyst further highlighted Alphabet&#8217;s cost to serve AI overviews was flat quarter-over-quarter despite a doubling of model size.
&#8220;The combination of higher query volume and lower incremental costs implies that AI benefits to Search will be a multi-year event,&#8221; Pitz said in a note to clients.
See Also: <a href="https://www.benzinga.com/news/24/07/39872729/nvidias-potential-50-trillion-valuation-tesla-and-xais-ai-expansion-plans-and-microsofts-trillion-do">Nvidia&#8217;s Potential $50 Trillion Valuation, Tesla And xAI&#8217;s AI Expansion Plans, And Microsoft&#8217;s Trillion-Dollar Tech: This Week In Artificial Intelligence</a>
RBC Capital Markets analyst Brad Erickson also highlighted the continued emphasis on expanded volume and higher quality of queries with generative search and suggested there could be further upside from the <a href="https://www.benzinga.com/government/24/07/39916932/google-backtracks-on-third-party-cookie-policy-sparks-gains-in-ad-tech-and-publisher-stocks">rollout of ads</a> above and below the AI overview box.
&#8220;However, we expect investors to take the Q3 margin commentary as slightly worse as AI-related depreciation begins to roll through the model,&#8221; the analyst said. 
RBC Capital &#8220;modestly&#8221; raised its earnings estimates for 2026 and took its 12-month price target up to $204 from $200, while maintaining an Outperform rating. 
&#8220;With Search continuing to outperform, the company is giving more evidence of being an AI winner rather than loser with improving operating leverage, compounding earnings and rising capital return,&#8221; Erickson said.
JMP Securities analyst Andrew Boone also raised estimates &#8220;slightly&#8221; and maintained an <a href="https://www.benzinga.com/analyst-stock-ratings">Outperform rating</a> on Alphabet shares as he sees benefits from AI in the early stages.
Boone believes Search growth is sustainable on the back of AI-related improvements. The analyst expects ongoing cost discipline to drive margin expansion moving forward. 
&#8220;Google noted that over the past quarter it doubled the model size for AI Overviews while improving latency and keeping cost per AI Overview flat as we expect AI compute costs to continue to come down given efficiency optimization, likely unlocking more AI use cases across Google,&#8221; Boone said, echoing commentary from other analysts. 
JMP Securities has a price target of $200 on Alphabet stock based on a 24x multiple on its 2025 earnings expectations. The firm said Alphabet&#8217;s vast total addressable market, scale across search, video, cloud and high profitability justify its price target.
GOOG Price Action: Alphabet shares were down 4.52% at $175.21 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39932009/jim-cramer-slams-tesla-google-parent-alphabet-sellers-says-anyone-who-listened-to-c">Jim Cramer Slams Tesla, Google-Parent Alphabet Sellers, Says Anyone Who Listened To Conference Calls &#8216;Knows These Companies Are Doing Extremely Well&#8217;</a></li>
</ul>
Photo: Shutterstock.

Analyst Color

Earnings

Google Analysts See Upside For Alphabet Stock Following Q2 Earnings As Generative AI Drives Accelerated Search Growth

Seagate Technology Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stx#NASDAQ">STX</a>) reported fourth-quarter fiscal 2024 non-GAAP earnings of $1.05 per share, beating the Zacks Consensus Estimate by 40%. The company reported a non-GAAP loss of 18 cents per share in the year-ago quarter.
Management anticipated fourth-quarter fiscal 2024 non-GAAP earnings to be 70 cents (+/- 20 cents).
Non-GAAP revenues of $1.887 billion beat the Zacks Consensus Estimate by 1.5%. The figure increased 18% on a year-over-year basis and 14% sequentially. Management projected revenues to be $1.85 billion (+/- $150 million) for the fiscal fourth quarter.
Higher mass capacity revenues were driven by stronger global cloud demand. Mass capacity revenues surged 46% year over year to $1.437 billion. Its exabyte shipments now represent more than 90% of total exabyte shipments. Nearline cloud revenues more than doubled year over year, owing to higher traditional cloud computing workloads and new AI deployments.&nbsp;
<div class="chart_embed">
<h3>Seagate Technology Holdings PLC Price, Consensus and EPS Surprise</h3>
<img alt="Seagate Technology Holdings PLC Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/d7/1721821765.png" style="height:265px; width:583px" title="" />
Seagate Technology Holdings PLC price-consensus-eps-surprise-chart | Seagate Technology Holdings PLC Quote
Following the announcement, shares were up 5% in the premarket trading on Jul 24. In the past year, STX has gained 80.8% compared with the sub-industry&#39;s growth of 45.4%.
</div>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/68/72303.jpg?v=2106150403" />
Image Source: Zacks Investment Research
<h3>Exabyte Shipments in Detail</h3>
In the reported quarter, Seagate shipped 114.2 exabytes of HDD storage, up 25% year over year and 15% sequentially.
Average mass capacity increased 45% year over year and 6% sequentially to 9.3TB.
The company shipped 103.9 exabytes for the mass-capacity storage market (including nearline, video and image applications, and network-attached storage). This recorded a year-over-year increase of 38% in exabyte shipments and 17% sequentially. Average mass capacity per drive slightly increased sequentially to 12.6 TB from 12.5 TB.
In the nearline market, it shipped 84.3 exabytes of HDD, up 54% year over year and 18% sequentially.
Seagate shipped 10.3 exabytes for the legacy market (which includes mission-critical notebooks, desktops, gaming consoles, digital video recorders or DVR and external consumer devices), down 36% year over year and 3% sequentially. Average capacity increased 2% year over year to 2.5 TB.
<h3>Revenues by Product Group</h3>
Total revenues of HDD (91.5% of revenues) rose 25% year over year to $1.727 billion in the reported quarter. On a sequential basis, revenues were up 17%.
Systems, SSD &amp; Other segment&#39;s revenues (8.5%), including enterprise data solutions, cloud systems and solid-state drives, were $160 million, down 27% on a year-over-year basis and 10% sequentially.
Our estimates for revenues from HDD and non-HDD segments were $1.674 billion and $178 million, respectively.
<h3>Margin Details</h3>
Non-GAAP gross margin increased to 30.9% from 19.5% in the prior year quarter.
Non-GAAP operating expenses were down 1% on a year-over-year basis to $256 million.
Non-GAAP income from operations totaled $327 million, up from $55 million a year ago. Non-GAAP operating margin increased to 17.3% from 3.4% in the year-earlier quarter.
<h3>Balance Sheet and Cash Flow</h3>
As of Jun 28, 2024, cash and cash equivalents were $1.358 billion compared with $795 million as of Mar 29.
As of Jun 28, 2024, long-term debt (including the current portion) was $5.674 billion compared with $5.671 billion as of Mar 29.
Cash flow from operations was $434 million compared with $188 million in the previous quarter. Free cash flow amounted to $380 million compared with $128 million in the prior quarter. This includes $226 million from the sale of System-on-Chip Operations, net of transaction costs.
STX paid $147 million as dividends in the fiscal fourth quarter. It exited the quarter with 210 million shares outstanding.
For the fiscal year, STX reported $918 million in cash flow from operations and $664 million in free cash flow. It paid cash dividends of $585 million in the fiscal year.
Seagate announced a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Oct 7, 2024, to its shareholders of record as of the close of business on Sep 23.
<h3>Outlook</h3>
Management anticipates first-quarter fiscal 2025 revenues to be $2.10 billion (+/- $150 million). STX expects incremental improvements in mass capacity demand, owing to strengthening demand from global cloud customers and modest improvement in the nearline enterprise market. The increase in mass capacity revenues is likely to offset lower revenues from legacy markets.
Gross margin is expected to benefit from a higher mix of mass capacity revenues and ongoing pricing actions.
For VIA, management anticipates sales to fluctuate in the second half of the calendar 2024. Though smart cities are the biggest end-market opportunity, the near-term budget visibility remains blurry amid existing macroeconomic uncertainty.
Non-GAAP earnings for the fiscal first quarter of 2025 are expected to be $1.40 per share (+/- 20 cents).
The non-GAAP operating expenses are expected to be $270 million. At the midpoint of the revenue guidance, management expects the non-GAAP operating margin to grow in the high-teens percentage range of revenues.
STX expects fiscal 2025 capex to be at or below the low end of its long-term target range of 4-6% of revenues.
Currently, Seagate sports a Zacks Rank #1 (Strong Buy).
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks worth consideration in the broader technology space are Badger Meter (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmi#NYSE">BMI</a>), Generac Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gnrc#NYSE">GNRC</a>) and Onto Innovation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/onto#NYSE">ONTO</a>). Badger Meter sports a Zacks Rank 1 while GNRC and ONTO carry a Zacks Rank #2 (Buy) each, at present.
The Zacks Consensus Estimate for Badger Meter&#39;s 2024 EPS is pegged at $4.06, up 4.4% in the past 30 days. BMI&#39;s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.9%. The long-term earnings growth rate is 16.7%. Shares of BMI have risen 24% in the past year.
In the last reported quarter, BMI reported earnings of $1.12 per share for the second quarter of 2024, beating the Zacks Consensus Estimate by 14.3%. Also, the bottom line compared favorably with the year-ago quarter&#39;s EPS of 76 cents. Quarterly net sales were $216.7 million, up 23% from $175.9 million in the year-ago quarter and surpassed the consensus mark by 7.86%. The uptick was attributed to healthy customer demand for its smart water solutions, smooth operational execution and accretive customer backlog conversion.
The Zacks Consensus Estimate for Onto Innovation&#39;s 2024 EPS is pegged at $5.05, unchanged in the past 30 days. ONTO&#39;s earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing the remaining one, with the average surprise being 2.6%. Shares of ONTO have gained 93.8% in the past year.
The Zacks Consensus Estimate for Generac&#39;s 2024 EPS is pegged at $6.16. GNRC&#39;s earnings beat the Zacks Consensus Estimate in two of the last four quarters while missing in the remaining quarters, with the average surprise being 5.8%. The long-term earnings growth rate is 12%. Shares of GNRC have risen 7.1% in the past year.
<a href="https://www.zacks.com/stock/news/2307600/seagate-s-stx-q4-earnings-beat-estimates-revenues-up-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2307600">To read this article on Zacks.com click here.</a>

Earnings Beats

GNRC

ONTO

Seagate's Q4 Earnings Beat Estimates, Revenues Up Y/Y

Investors with a lot of money to spend have taken a bearish stance on SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SPWR, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 8 uncommon options trades for SunPower.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 37%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $322,750, and 2 are calls, for a total amount of $68,984.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1.5 to $5.0 for SunPower over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for SunPower's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of SunPower's whale trades within a strike price range from $1.5 to $5.0 in the last 30 days. 
<h3>SunPower 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721841360_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPWR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$4.7</td>
<td>$4.35</td>
<td>$4.35</td>
<td>$5.00</td>
<td>$108.7K</td>
<td>400</td>
<td>250</td>
</tr>
<tr>
<td>SPWR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$3.35</td>
<td>$3.35</td>
<td>$3.35</td>
<td>$4.00</td>
<td>$67.0K</td>
<td>2.9K</td>
<td>200</td>
</tr>
<tr>
<td>SPWR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$2.7</td>
<td>$1.3</td>
<td>$2.45</td>
<td>$3.00</td>
<td>$61.2K</td>
<td>738</td>
<td>250</td>
</tr>
<tr>
<td>SPWR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$0.06</td>
<td>$0.05</td>
<td>$0.06</td>
<td>$1.50</td>
<td>$37.3K</td>
<td>5.0K</td>
<td>6.1K</td>
</tr>
<tr>
<td>SPWR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.4</td>
<td>$1.1</td>
<td>$1.35</td>
<td>$2.00</td>
<td>$33.7K</td>
<td>3.9K</td>
<td>251</td>
</tr>
</tbody>
</table>

<h3>About SunPower</h3>
SunPower is a leading solar technology and energy services provider that offers fully integrated solar, storage, and home energy solutions to customers primarily in the United States and Canada through an array of hardware, software, and financing options and smart energy solutions. The company's sales channels include a network of both installing and noninstalling dealers and resellers that operate in residential and commercial markets as well as a group of in-house sales teams in each segment engaged in direct sales to end customers.
<h3>Where Is SunPower Standing Right Now?</h3>
<ul>
<li>With a volume of 22,944,831, the price of SPWR is up 11.22% at $1.04. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 13 days.</li>
</ul>
<h3>What Analysts Are Saying About SunPower</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $0.972.
<ul>
<li>Consistent in their evaluation, an analyst from GLJ Research keeps a Sell rating on SunPower with a target price of $0. </li>
<li>Consistent in their evaluation, an analyst from Goldman Sachs keeps a Sell rating on SunPower with a target price of $0. </li>
<li>An analyst from Susquehanna has decided to maintain their Neutral rating on SunPower, which currently sits at a price target of $2. </li>
<li>In a cautious move, an analyst from GLJ Research downgraded its rating to Sell, setting a price target of $1. </li>
<li>Maintaining their stance, an analyst from Citigroup continues to hold a Sell rating for SunPower, targeting a price of $0. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for SunPower with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

SPWR

A Closer Look at SunPower's Options Market Dynamics

Investors with a lot of money to spend have taken a bearish stance on Eaton Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ETN, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 23 uncommon options trades for Eaton Corp.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 65%, bearish.
Out of all of the special options we uncovered, 15 are puts, for a total amount of $784,170, and 8 are calls, for a total amount of $246,670.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $300.0 to $350.0 for Eaton Corp over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Eaton Corp's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Eaton Corp's whale trades within a strike price range from $300.0 to $350.0 in the last 30 days. 
<h3>Eaton Corp Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721841355_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ETN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$7.8</td>
<td>$7.7</td>
<td>$7.7</td>
<td>$300.00</td>
<td>$117.0K</td>
<td>1.0K</td>
<td style="text-align: right;">271</td>
</tr>
<tr>
<td>ETN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$25.2</td>
<td>$24.8</td>
<td>$25.2</td>
<td>$310.00</td>
<td>$113.4K</td>
<td>315</td>
<td style="text-align: right;">122</td>
</tr>
<tr>
<td>ETN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$8.3</td>
<td>$8.0</td>
<td>$8.3</td>
<td>$300.00</td>
<td>$80.5K</td>
<td>1.0K</td>
<td style="text-align: right;">405</td>
</tr>
<tr>
<td>ETN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$25.2</td>
<td>$24.8</td>
<td>$25.2</td>
<td>$310.00</td>
<td>$73.0K</td>
<td>315</td>
<td style="text-align: right;">139</td>
</tr>
<tr>
<td>ETN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$9.0</td>
<td>$8.6</td>
<td>$9.0</td>
<td>$300.00</td>
<td>$67.5K</td>
<td>1.0K</td>
<td style="text-align: right;">496</td>
</tr>
</tbody>
</table>

<h3>About Eaton Corp</h3>
Eaton is a diversified power management company operating for over 100 years. The company operates through various segments, including electrical Americas, electrical global, aerospace, vehicle, and eMobility. Eaton's portfolio can broadly be divided into two halves. One part of its portfolio is housed under its industrial sector umbrella, which serves a large variety of end markets like commercial vehicles, general aviation, and trucks. The other portion is Eaton's electrical sector portfolio, which serves data centers, utilities, and the residential end market, among others. While the company receives favorable tax treatment with its Ireland domicile, most of its operations are in the US.
Having examined the options trading patterns of Eaton Corp, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Eaton Corp Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 1,762,570, with ETN's price down by -5.05%, positioned at $305.68.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 8 days.</li>
</ul>
<h3>What The Experts Say On Eaton Corp</h3>
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $359.3333333333333.
<ul>
<li>Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Eaton Corp with a target price of $385. </li>
<li>An analyst from Raymond James has revised its rating downward to Outperform, adjusting the price target to $375. </li>
<li>Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Eaton Corp with a target price of $318. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Eaton Corp with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Eaton Corp Unusual Options Activity For July 24

Deep-pocketed investors have adopted a bearish approach towards United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in UPS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for United Parcel Service. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 43% bearish. Among these notable options, 4 are puts, totaling $595,980, and 12 are calls, amounting to $2,520,350.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $200.0 for United Parcel Service over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for United Parcel Service options trades today is 1037.23 with a total volume of 7,840.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for United Parcel Service's big money trades within a strike price range of $120.0 to $200.0 over the last 30 days.
<h3>United Parcel Service 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721841350_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UPS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$8.85</td>
<td>$8.5</td>
<td>$8.85</td>
<td>$130.00</td>
<td>$885.0K</td>
<td>119</td>
<td>2.0K</td>
</tr>
<tr>
<td>UPS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$8.85</td>
<td>$8.5</td>
<td>$8.8</td>
<td>$130.00</td>
<td>$880.0K</td>
<td>119</td>
<td>1.0K</td>
</tr>
<tr>
<td>UPS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$14.2</td>
<td>$13.7</td>
<td>$13.9</td>
<td>$120.00</td>
<td>$486.5K</td>
<td>576</td>
<td>351</td>
</tr>
<tr>
<td>UPS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$6.25</td>
<td>$6.15</td>
<td>$6.15</td>
<td>$125.00</td>
<td>$220.1K</td>
<td>789</td>
<td>430</td>
</tr>
<tr>
<td>UPS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$3.3</td>
<td>$3.25</td>
<td>$3.3</td>
<td>$130.00</td>
<td>$176.5K</td>
<td>2.1K</td>
<td>1.2K</td>
</tr>
</tbody>
</table>

<h3>About United Parcel Service</h3>
As the world's largest parcel delivery company, UPS manages a massive fleet of more than 500 planes and 100,000 vehicles, along with many hundreds of sorting facilities, to deliver an average of about 22 million packages per day to residences and businesses across the globe. UPS' domestic US package operations generate around 64% of total revenue while international package makes up 20%. Air and ocean freight forwarding, truckload brokerage, and contract logistics make up the remainder. UPS is currently pursuing "strategic alternatives" for its truck brokerage unit, Coyote, which it acquired in 2015.
<h3>Current Position of United Parcel Service</h3>
<ul>
<li>Trading volume stands at 6,594,034, with UPS's price up by 0.33%, positioned at $128.1.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 92 days.</li>
</ul>
<h3>Expert Opinions on United Parcel Service</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $145.0.
<ul>
<li>An analyst from Wells Fargo persists with their Overweight rating on United Parcel Service, maintaining a target price of $134. </li>
<li>An analyst from UBS has decided to maintain their Buy rating on United Parcel Service, which currently sits at a price target of $159. </li>
<li>Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for United Parcel Service, targeting a price of $140. </li>
<li>Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for United Parcel Service, targeting a price of $132. </li>
<li>Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for United Parcel Service, targeting a price of $160. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for United Parcel Service, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

United Parcel Service Unusual Options Activity For July 24

From Seattle, WA, Matt recently called into The Ramsey Show to share his journey and seek advice about his struggles with the FIRE (Financial Independence, Retire Early) movement.&nbsp;
"I currently have three jobs, and I spend more than 12 hours a day working," Matt explained. "I save and invest about half of my income, so I&#8217;m saving about $100,000 a year. So, financially, we&#8217;re sound. But it comes with a cost. I&#8217;m not spending enough time with my children, and my health is deteriorating. I&#8217;m not dying, but it&#8217;s impacting me negatively."
Don't Miss:
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<li>Many are surprised by Mark Cuban&#8217;s advice for lotto winners:<a href="https://www.benzinga.com/money/mark-cubans-annuity-adv"> Cash or annuity?</a></li>
<li>How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a></li>
</ul>
Dave Ramsey asked Matt about his investments and savings, learning that Matt had accumulated a half-million dollars and invested in four homes, including three rental properties worth around $600,000 each. Matt explained that he has about 40% equity in the homes. Despite having $350,000 in savings and $1.3 million in equity, Matt is concerned about his future and the sustainability of his current lifestyle, stating that he doesn't want to go back to living paycheck to paycheck.&nbsp;
Ramsey responded with his trademark directness, highlighting the emotional toll of Matt's situation. "Honey, you're not living paycheck to paycheck. You're putting $100,000 away. Quitting two jobs is not going to make you live paycheck to paycheck. You're so exaggerating that."
As Ramsey and co-host John Delony dove deeper into Matt's concerns, Matt admitted that his involvement in the FIRE movement had led him to prioritize financial goals over his well-being and time with his family.&nbsp;
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
Ramsey critiqued the FIRE movement, saying, "Yeah, the FIRE movement burned down. Did you notice? It burned to the ground. It burned around people's ears because they were trying to do something that wasn't sustainable. What you're doing is not sustainable. You didn't build a life; you built a financial portfolio, and now your brain is waking up and saying ‘Go build a life,' and we're saying ‘Yes, go build a life.'"
Trending: Rory McIlroy&#8217;s mansion in Florida is worth $22 million today, doubling from 2017 —<a href="https://benzinga.com/money/rory-mcilroys-florida-mansion-doubled-in-value"> here&#8217;s how to get started investing in real estate with just $100</a>
Delony added another perspective, suggesting that Matt's children prefer time with their father over material wealth. He emphasized the importance of balancing success with personal fulfillment and family time.&nbsp;
Ramsey advised Matt to reassess his priorities and quit two of his jobs. "Your net worth is $2 million, and you're 40 years old. Ding ding. You rang the bell. You're done. If you don't do anything else, you're gonna be worth $20 million at 65. If you just let the investments that you have grow, that's all. There's no need to panic here."
Ramsey and Delony also highlighted the psychological impact of debt and the relentless pursuit of financial goals, comparing it to a never-ending chase that ultimately leads to dissatisfaction. They encouraged Matt to trust his instincts, reduce his workload, and enjoy his life.
For others facing similar dilemmas, consulting a financial advisor can help you align financial strategies with your personal, long-term goals, ensuring a balanced and fulfilling life.
Read Next:
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<li>This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.</li>
<li>Are you richer than most people you know?<a href="https://www.benzinga.com/money/are-you-richer-than-most-people"> Here&#8217;s the net worth you need at every age to be above average.</a></li>
</ul>

Personal Finance

Dave Ramsey Says The FIRE Movement Isn't Sustainable To Caller Who Spent 5 Years Working 3 Jobs To Retire Earlier

NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) may be about to head lower. The stock is testing important support.
There's a good chance this support breaks. There was recently a ‘higher low' on the chart. This is why it's our Stock of the Day.
There tends to be support at levels that had been support before. As you can see on the chart, <a href="https://www.benzinga.com/news/24/07/39931967/nvidia-mcdonalds-and-2-other-stocks-insiders-are-selling">Nvidia</a> is at a one.
This happens when some of the investors and traders who sold while the stock was at support come to regret their decision to do so after it rebounds. Some of them vow to buy their shares back.
But they will only do so if they can buy them at the same price they were sold at.
So, when the shares eventually reverse and drop back to the support, they place buy orders. And if there are a large number of these orders it will create support once again at the level.
Sometimes markets rally after they reach support levels. This happens when some of the buyers worry that other buyers will be willing to pay a higher price. They know that this is who the sellers will go to.
Because of this, they raise the prices they are willing to pay. Other worried buyers see this and do the same thing. It results in a snowball effect or a bidding war that forces the price up.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="619" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24120807/1-25-1024x619.png" alt="NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ" />NVDA)" class="wp-image-454672" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24120807/1-25-1024x619.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24120807/1-25-300x181.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24120807/1-25-768x464.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24120807/1-25.png 1044w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Also: <a href="https://www.benzinga.com/markets/24/07/39934954/market-clubhouse-morning-memo-july-24th-2024-trade-strategy-for-spy-qqq-aapl-msft-nvda-googl-meta-an">Market Clubhouse Morning Memo </a>
But sometimes the support level breaks. This sets the stage for a move lower.
If the price drops below the support level it illustrates an important supply and demand dynamic. It shows that the traders and investors who created the support with their buy orders have left the market.
With these buyers out of the way, the sellers are forced to push the price lower if they want their trades to be executed. This will pull buyers off of the sidelines and into the market. But it could also force the shares into a new downtrend.
One way a trader can gain insight into whether the shares will rebound or the support will break is to determine whether there has been a ‘lower high'. As you can see on the chart, that is the case with Nvidia.
The high that formed on July 11 was lower than the one that formed on June 20. This price action occurs because the sellers are getting more aggressive as time passes. They are willing to sell at lower prices.
If lower highs formed as a stock trended lower before it got to support, it's a good indication that the support will break. And it may be about to happen with <a href="https://www.benzinga.com/quote/NVDA">NVIDIA</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39926440/tesla-stock-is-plunging-over-7-in-wednesdays-pre-market-after-q2-earnings-whats-going-on">Tesla Stock Is Plunging Over 7% In Wednesday&#8217;s Pre-Market After Q2 Earnings: What&#8217;s Going On</a></li>
</ul>

Short Ideas

Technicals

Stock Of The Day: Is Nvidia In Trouble? Tech Giant Tests Support

Wall Street experienced a turbulent session on Wednesday, with the S&amp;P 500 index heading toward its worst performance in over a year and the tech-focused Nasdaq 100 eyeing its fifth decline in <a href="https://www.benzinga.com/markets">the last six sessions.</a>
The Magnificent Seven group — Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp., Alphabet Inc., Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. — wiped out over $570 billion in their combined market valuation by midday trading in New York. The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) fell 4.9%, marking the worst daily performance since the fund&#8217;s inception last year.
Tesla shares plummeted over 11% after missing earnings expectations, with revenue dropping 7% year-over-year to $19.9 billion. This marks its second consecutive quarter of year-over-year sales declines and the first sequential decline in quarterly sales volume.
Despite posting stronger-than-expected numbers, Alphabet also saw a significant drop, falling 5%, weighed down by its YouTube advertising revenue, which failed to meet analyst expectations.
The Nasdaq 100 fell 3%, eyeing a similar decline to the one witnessed a week ago. The drop in tech companies also impacted the chipmaker industry, which heavily depends on AI-related investments from mega-cap tech giants. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell 3.3%, approaching its lowest close since early June.
The CBOE Volatility Index or VIX, commonly referred to as the market fear index, rallied 16% to 17 points.
On the macro front, flash PMI surveys revealed the strongest pace of growth for the services sector in 28 months, while manufacturing activity <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39934981/us-services-activity-hits-28-month-peak-price-pressures-continue-to-ease-economist-">returned to contraction in July.</a>
Treasury yields fell, sending a trade-weighted U.S. dollar gauge down 0.3%. Notably, the dollar fell 1.4% against the Japanese yen, eyeing levels last seen in early May. 
Gold showed its resilience against market turbulence, rising 0.6%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 0.4%. 
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.07</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,045.39</td>
<td>-0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,461.51</td>
<td>-1.7%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,171.24</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:05 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.8% down to $543.94.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;edged down 0.8% to $400.13.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) fell 3% to $466.46.</li>
<li>Sector-wise, the Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)&nbsp;outperformed, up by 1.3%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and the Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, both down 3.2%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were: 
<ul>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), down over 4%.</li>
<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) up 0.6%.</li>
<li>Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), down 0.4%. </li>
<li>Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), up 2.3%. </li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) up 3.2%.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) up 5.4%.</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) down 2%. </li>
<li>Fiserv Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) up 2.2%. </li>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) up 0.8%, </li>
<li>General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) down 4%. </li>
<li>Roper Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NASDAQ">ROP</a>) down 9%. </li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) up 2.9%. </li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) up 0.7%. </li>
<li>Vertiv Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) down 9%.</li>
<li>Check Point Software Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) up 7%. </li>
</ul>
Those reporting after the close include: 
<ul>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) ORLY) </li>
<li>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>)</li>
<li>Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)</li>
<li>Republic Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSG#NYSE">RSG</a>)</li>
<li>Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</li>
<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>)</li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)</li>
<li>Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>)</li>
<li>Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>)</li>
<li>Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>)</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>)</li>
<li>O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>).</li>
</ul>
Read now:
<ul>
<li><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></li>
</ul>
Photo via Shutterstock.

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US Stocks Tumble, Magnificent 7 Wipe Out $570 Billion As Mega-Tech Earnings Disappoint, VIX Spikes: What's Driving Markets Wednesday?

The United States is expected to see robust demand for electric power from artificial intelligence-driven data center growth, widespread adoption of electric vehicles, and an increase in residential demand. Aside from electric power utility, alternative energy is emerging as an industry promising gains in the long term.
The Zacks Alternative Energy industry can be fundamentally segregated into two sets of companies. While one group is involved in the generation and distribution of electricity from sources like wind, natural gas, biofuel, hydro and geothermal, the other is engaged in the development, design and installation of renewable projects involving these alternative energy sources.&nbsp; 
Impressive Projections
Since 2010, the total demand for electric power in the United States has remained stable at around 4,000 terawatt-hours (TWh). The Electric Power Research Institute, in its &quot;Powering Intelligence: Analyzing Artificial Intelligence and Data Center Energy Consumption&quot; report, projected that data centers would consume 9.1% of total U.S. electricity generation by 2030 compared with 4.6% at present.&nbsp;
The report said, &quot;AI queries require approximately ten times the electricity of traditional internet searches and the generation of original music, photos, and videos requires much more.&quot; The Federal Energy Regulatory Commission reported that the data center electricity demand across the United States is expected to climb to 35 gigawatts (GW) in 2030 from 19 GW in 2023.&nbsp;
A research report by Rystad Energy predicted that the combined expansion of traditional and AI-driven data centers, along with chip foundries, will increase the cumulative demand for U.S. electric power by 177 TWh from 2023 to 2030, reaching a total of 307 TWh.&nbsp;
EVs will emerge as the second major catalyst for power demand growth in the United States. The expansion of battery EVs will raise the demand for electricity from 18.3 TWh in 2023 to 131 TWh in 2030. Rystad Energy estimates that total U.S. power demand across the residential, commercial, and industrial sectors will reach 4,500 TWh in 2030.
Major investment bank The Goldman Sachs Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) forecasts that the U.S. data center power demand will grow 160% by 2030 owing to the ongoing AI revolution. The report said, &quot;At present, data centers worldwide consume 1-2% of overall power, but this percentage will likely rise to 3-4% by the end of the decade. In the United States and Europe, this increased demand will help drive the kind of electricity growth that hasn&#39;t been seen in a generation.&quot;
<h3>Other Positives</h3>
Alternative energy operators, in order to maintain, upgrade and expand operations, approach capital markets for loans as the funds generated from internal sources are not always sufficient. Therefore, a low interest rate regime is beneficial for the electric power industry. The CME FedWatch tool currently shows that market participants are highly optimistic about two rate cuts of 25 basis points each in 2024.
Consequently, operators planning to invest large amounts in infrastructure upgrades and add renewable sources of energy to produce clean electricity may be able to borrow funds at a lower rate, which will decrease the overall cost of the long-term projects, raising their profit and margins.
<h3>Our Top Picks</h3>
We have narrowed our search to five alternative energy stocks that are regular dividend payers. These stocks have good potential for the rest of 2024 and have seen positive earnings estimate revisions within the last 60 days. Each of our picks carries a Zacks Rank #2 (Buy).
The chart below shows the price performance of our five picks year to date.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b9/72276.jpg?v=1875779037" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
Constellation Energy Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceg#NASDAQ">CEG</a>) generates and markets electricity. CEG&#39;s operating segment consists of the Mid-Atlantic, Midwest, New York, ERCOT and Other Power Regions. CEG sells natural gas, renewable energy and other energy-related products and services. CEG serves distribution utilities, municipalities, cooperatives, and commercial, industrial, governmental, and residential customers.
Constellation Energy has an expected earnings growth rate of 52.7% for the current year. Although its revenue growth rate is negative for the current year, it is 2.4% for next year. The Zacks Consensus Estimate for current-year earnings has improved 2.7% over the last 60 days. CEG has a current dividend yield of 0.7%.
NextEra Energy Partners LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nep#NYSE">NEP</a>) has completed several financing agreements to secure funds for acquisitions and improve financial flexibility. The passage of the Inflation Reduction Act and the use of new technology are helping NEP develop renewable projects.
NEP&#39;s current portfolio has meaningful organic growth opportunities in the coming years. The assets acquired by NEP are providing it with additional long-term investment opportunities. A disciplined investment approach will allow NEP to expand operations, remain competitive and increase the cash distribution of its unitholders over the long term.
NextEra Energy Partners has an expected revenue and earnings growth rate of 0.5% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 5.6% over the last 60 days. NEP has a current dividend yield of 13.4%.
Clearway Energy Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cwen#NYSE">CWEN</a>) is benefiting from its focus on North American operations and modern utility-scale clean renewable projects that ensure high fleet availability and low maintenance costs. Net proceeds from the disposition of the Thermal Business to KKR allowed CWEN to lower corporate borrowings and reduce its debt level.
CWEN&#39;s primary business strategy is to focus on acquisitions and ownership of assets that have predictable and long-term cash flows to increase the cash dividends paid to holders of its Class A and Class C common stock over time, without compromising the ongoing stability of the business.
Clearway Energy has an expected revenue and earnings growth rate of 7.2% and 50.8%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 9.8% over the last 90 days. CWEN has a current dividend yield of 6.5%.
Crescent Energy Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crgy#NYSE">CRGY</a>) is an independent oil and natural gas company that acquires, explores, develops, exploits and produces crude oil and natural gas properties principally in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana and Wyoming in the United States.
CRGY has an expected revenue growth rate of 21.2% for the current year. Although its earnings growth rate is negative for the current year, it is 63.7% for next year. The Zacks Consensus Estimate for current-year earnings has improved 39.5% over the last 90 days. CRGY has a current dividend yield of 4%.
TC Energy Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trp#NYSE">TRP</a>) is a predominantly natural gas pipeline operator with operations spanning Canada, the United States and Mexico. A quality stock with industry-leading wide moat assets, TRP has a secured portfolio of C$34 billion in growth projects. This should support TRP&#39;s stated dividend growth commitment of 3-5% annually in the future. TRP&#39;s strategic asset management and divestiture program positions it to maximize asset value.
TRP has an expected revenue growth rate of 0.3% for the current year. Although its earnings growth rate is negative for the current year, it is 0.9% for next year. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last seven days. TRP has a current dividend yield of 6.7%.
<a href="https://www.zacks.com/stock/news/2307650/alternative-energy-likely-to-flourish-in-near-future-5-picks?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2307650">To read this article on Zacks.com click here.</a>

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CRGY

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Alternative Energy Likely to Flourish in Near Future: 5 Picks

The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares are trading lower on Wednesday. The company is anticipated to release earnings next week on July 31 before the market opens.
What To Know: For the 2024 fiscal year second quarter, analysts estimate a loss of $1.76 per share and revenue of $17.26 billion.
Boeing stock <a href="https://www.benzinga.com//node/39912973">traded higher on Tuesday</a>, at a price of about $185.17, after Boeing received an order for 20 777-9 planes from Qatar Airlines. Macquaire AirFrance also ordered 20 737-8 MAX jets.
In early July, Boeing signed a plea deal with the Department of Justice where it agreed to plead guilty to criminal charges, pay a $243.6 million fine and invest $455 million into its safety and compliance programs. The case stems from two 737 MAX crashes from years prior that killed 346 people.
The Department of Justice originally <a href="https://www.benzinga.com/news/24/07/39670506/why-boeing-stock-is-moving-higher-monday">offered</a> Boeing a settlement agreement which allowed Boeing to avoid prosecution. The justice department claims that Boeing violated the settlement agreement. Prosecutors then decided to file criminal charges against the company.
In January, a <a href="https://www.benzinga.com/government/24/02/36965801/boeing-737-max-door-plug-that-flew-off-alaska-air-flight-missing-4-key-bolts-preliminary-ntsb-report">door flew</a> off an Alaska Airlines operated Boeing 737 MAX Jet during flight. The incident led to the Federal Aviation Administration (FAA) grounding 171 Boeing MAX 9 jets for the majority of January. In addition, the FAA started an audit of Boeing&#8217;s production process and the incident led to a <a href="https://www.benzinga.com/news/24/07/39818420/boeings-737-max-crisis-ripple-effects-disrupt-airlines-suppliers">slowdown</a> in deliveries of Boeing MAX 9 jets.
Related Link: <a href="https://www.benzinga.com/news/24/07/39915506/delta-air-lines-needs-more-recovery-time-after-crowdstrike-outage-flight-disruptions-to-extend-2-mor">Delta Air Lines Needs More Recovery Time After CrowdStrike Outage, Flight Disruptions To Extend 2 More Days</a>
BA Price Action: As of Wednesday morning, Boeing stock is trading down 1.71% at $183.29 per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

What's Going On With Boeing Airlines Stock Wednesday?

Deutsche Bank analyst Ross Seymore maintains Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) with a Hold and raises the price target from $160 to $185.

Deutsche Bank Maintains Hold on Texas Instruments, Raises Price Target to $185

Deutsche Bank analyst Clay Griffin maintains Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>) with a Hold and raises the price target from $16 to $18.5.

MANU

Deutsche Bank Maintains Hold on Manchester United, Raises Price Target to $18.5

Fiserv,&nbsp;Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>)&nbsp;reported&nbsp;fiscal second-quarter results, with revenue increasing by 7%&nbsp;year-over-year&nbsp;to $5.11 billion, beating the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39927659/fiserv-reports-second-quarter-2024-results" rel="noreferrer noopener">analyst consensus estimate of $4.82 billion</a>. Adjusted revenue increased&nbsp;7%&nbsp;year-over-year&nbsp;to $4.79 billion.&nbsp;
Adjusted EPS of $2.13 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $2.10</a>.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39435477/fiserv-welcomes-former-jp-morgan-executive-takis-georgakopoulos-as-senior-advisor-details" rel="noreferrer noopener">Fiserv Welcomes Former JP Morgan Executive Takis Georgakopoulos As Senior Advisor: Details</a>
The adjusted EPS marked an 18% increase over $1.81 from&nbsp;last year&#8217;s period.&nbsp;The&nbsp;stock price gained after the print.
Organic revenue grew 18%, led by 28% growth in&nbsp;Merchant Solutions and 8% in&nbsp;Financial&nbsp;Solutions.
The adjusted operating margin increased by 160 bps Y/Y to 38.4%.&nbsp;Adjusted operating margin increased 290 basis points Y/Y to 36.6% in the Merchant Solutions segment and was flat at 45.9% in the Financial Solutions segment.
Chair and CEO Frank Bisignano said, &#8220;Fiserv&#8217;s integrated solutions, deep client relationships, and strategic positioning continue to drive our industry leadership.&#8221;
FY24 Outlook: Fiserv&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38381424/fiserv-reports-strong-first-quarter-results-raises-full-year-outlook" rel="noreferrer noopener">reiterated organic revenue</a> growth of 15%-17% and raised adjusted EPS outlook to $8.65 &#8211; $8.80 (prior $8.60 – $8.75), representing&nbsp;growth of 15%-17% Y/Y versus the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$8.71 consensus</a>.
Fiserv stock gained over 21% in the last 12 months.
<h2 class="wp-block-heading">Fiserv Stock Prediction For 2024</h2>
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Fiserv, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Fiserv, the 200-day moving average sits at $141.57, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is below the current price of $160.72. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
Price Action: FI shares were up 2.34% at $160.90 at the last check on Wednesday.
Photo via Shutterstock

Fintech news covering the emerging Financial Technology services sector

Fintech

Guidance

Fintech Firm Fiserv's Q2 Earnings: Revenue Surge Beats Expectations, Hikes Annual Outlook

Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) shares are trading lower after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39926213/vertiv-reports-57-organic-orders-growth-13-net-sales-growth-and-63-operating-profit-growth-in-seco" rel="noreferrer noopener">second-quarter&nbsp;FY24 results</a>.
Net sales rose 13% Y/Y to $1.953 billion, beating the consensus of $1.939 billion. Organic orders (excluding foreign exchange) rose 57% Y/Y in the quarter. The book-to-bill ratio stood at 1.4x in the quarter.
Adjusted EPS stood at&nbsp;$0.67, beating&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$0.57</a>.
Adjusted operating profit surged 52% year-over-year to $382 million, with the margin expanding 510 basis points to 19.6%, driven by higher volumes, favorable price-cost dynamics, and productivity improvements, though partially offset by increased R&amp;D and capacity investments.
Operating cash flow reached&nbsp;$378 million, and adjusted free cash flow stood at&nbsp;$333 million&nbsp;in the quarter.
Giordano Albertazzi, Chief Executive&nbsp;Officer,&nbsp;said, &#8220;We continue to see increased scaling of AI deployment and Vertiv has the capacity in place to seize this pivotal moment while continuing to invest in capacity for the future.&#8221;
Liquidity stood at $1.2 billion with no borrowings under the ABL credit facility at the end of the quarter.
Dave Cote, Vertiv&#8217;s Executive Chairman, added: &#8220;Significant demand growth coupled with Vertiv&#8217;s unrelenting focus on operational execution to benefit our customers is translating into strong performance across the board with robust cash flow and higher profitability, accelerating progress toward our long-term target of 20%+ adjusted operating margin.&#8221;
Also Read: <a href="https://www.benzinga.com//node/39932009">Jim Cramer Slams Tesla, Google-Parent Alphabet Sellers, Says Anyone Who Listened To Conference Calls &#8216;Knows These Companies Are Doing Extremely Well&#8217;</a>
Outlook: For FY24, Vertiv raised&nbsp;guidance&nbsp;for revenue to&nbsp;$7.59 billion&nbsp;&#8211;&nbsp;$7.74 billion (from&nbsp;$7.54 billion –&nbsp;$7.69 billion&nbsp;earlier) vs.&nbsp;consensus of&nbsp;$7.69 billion&nbsp;and adjusted EPS to&nbsp;$2.47&nbsp;&#8211;&nbsp;$2.53 (<a target="_blank" href="https://www.benzinga.com//node/38405154" rel="noreferrer noopener">from $2.29-$2.35 earlier</a>) vs. consensus of&nbsp;$2.39.
For the&nbsp;third quarter, Vertiv expects&nbsp;revenue of&nbsp;$1.935 billion-&nbsp;$1.985 billion (vs.&nbsp;$1.971 billion estimate) and adjusted EPS of&nbsp;$0.65&nbsp;&#8211;&nbsp;$0.69&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">(vs.&nbsp;consensus of&nbsp;$0.63)</a>.
Investors can gain exposure to the stock via&nbsp;Alger Mid Cap 40 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRTY#NYSE">FRTY</a>) and&nbsp;Professionally Managed Portfolios Otter Creek Focus Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OCFS#NYSE">OCFS</a>).
Price Action: VRT shares are down 8.53%&nbsp;at&nbsp;$83.24&nbsp;at&nbsp;the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: courtesy Vertiv

FRTY

Professionally Managed Portfolios Otter Creek Focus Strategy ETF

OCFS

Vertiv's Focus On AI Drives Q2 Revenue and Profit Growth, Guidance Boost & More

U.S. Equities: Broadening And Grinding Higher

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