Short interest for OptiNose gives investors a sense of the degree to which investors are betting on the decline of OptiNose's stock. Short interest data is updated every two weeks.

OptiNose Stock (NASDAQ:OPTN), Short Interest Report

OptiNose

OptiNose Inc is a specialty pharmaceutical company that focuses on the development and commercialization of products for patients treated by ear, nose, and throat, and allergy specialists. Its product includes XHANCE (fluticasone propionate) nasal spray, 93 micrograms, a therapeutic utilizing its proprietary Exhalation Delivery System (EDS) that delivers a topically-acting corticosteroid for the treatment of chronic rhinosinusitis with nasal polyps. The XHANCE is able to deliver medication to the primary site of inflammation high and deep in the nasal passages in regions not adequately reached by intranasal steroids.

Caterpillar - logo

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Why Caterpillar Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Thursday&#39;s Mid-Day Session

Earnings

News

Penny Stocks

Eurozone

Commodities

Small Cap

Global

Intraday Update

Markets

Trading Ideas

MLGO

PHVS

SERA

YEXT

U.S. stocks traded mixed toward the end of trading on Wednesday.

The Dow traded up 0.05% to 36,143.40 while the NASDAQ fell 0.06% to 14,221.51. The S&amp;P 500 also fell, dropping, 0.05% to 4,564.73.

Gold Moves Higher; Campbell Soup Earnings Top Expectations

Movers

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Shares of AeroVironment, Inc. (NASDAQ: AVAV) moved lower during Wednesday’s session following second-quarter results.

Why AeroVironment Shares Are Trading Lower By Over 9%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

OptiNose Inc

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the Dow Jones index surging more than 300 points during the session. The U.S. Federal Reserve, on Wednesday, opted to keep the federal funds rate unchanged at 5.25% to 5.5%, as widely expected.
On the economic data front, the trade deficit in the US narrowed slightly to $69.4 billion in March versus a revised $69.5 billion gap in February. U.S. initial jobless claims came in unchanged from the previous week at 208,000 during the week ending April 27, compared to market expectations of 212,000.
Data on April nonfarm payrolls will be released today, with economists projecting 240,000 job gains for the month.
QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) shares jumped around 10% on Thursday after the company reported better-than-expected second-quarter financial results and raised its dividend. DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) shares dipped over 10% after the company reported mixed first-quarter financial results. Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares surged around 34% after the company reported upbeat sales for the first quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, real estate and information technology stocks recording the biggest gains on Thursday. However, materials and health care stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 322 points to 38,225.66 on Thursday. The S&amp;P 500 rose 0.91% at 5,064.20, while the Nasdaq Composite jumped 1.51% at 15,840.96 during Thursday's session.
Investors are awaiting earnings results from American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), and Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) today.
At a current reading of 36.2, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 33.9.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38605709/hershey-likely-to-report-lower-q1-earnings-here-are-the-recent-forecast-changes-from-wall-streets-m">Hershey Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>

Pre-Market Outlook

CVNA

DASH

QCOM

Investor Sentiment Increases Ahead Of Jobs Report, Dow Jumps Over 300 Points

Under the terms of this agreement, worth &pound;550,000 to ANGLE, the Company will develop a CTC-based AR assay. Assay development will take place in the ANGLE&#39;s UK laboratories, with project completion expected in&nbsp;Q1&nbsp;2025. A successful development phase will demonstrate the importance of the Parsortix system in assessing the efficacy of prostate cancer therapeutics and offers the potential for long-term, ongoing business for the Company supporting clinical studies.

ANPCY

ANGLE Inks Supplier Agreement with AstraZeneca To Develop A Parsortix-Based Androgen Receptor Detection Assay For Use In Prostate Cancer Studies

Coca-Cola Europacific Partners (CCEP) today announces the resignation of Nik Jhangiani, SVP and Chief Financial Officer (CFO) with a search for his successor well underway,
Diageo plc &nbsp;announces that Nik Jhangiani will join the company as Chief Financial Officer, taking up the position and joining Diageo&#39;s Board and Executive Committee in Autumn 2024. Lavanya Chandrashekar will step down from the Executive Committee and Board at the same time after three years as Chief Financial Officer and six years with the company, and will return to the US.

Management

Coca-Cola European Partners plc Ordinary Shares

CCEP

Coca-Cola Europacific Partners CFO Nik Jhangiani Steps Down, Set To Join Diageo As CFO

<a target="_blank" href="https://www.benzinga.com/news/23/11/35866639/cruise-ceo-kyle-vogt-resigns-amid-safety-concerns-and-suspension-of-operations-at-gm-self-driving-ar" rel="noreferrer noopener">Kyle Vogt</a>, formerly the CEO of&nbsp;GM&#8216;s self-driving car unit&nbsp;Cruise, took to social media to express his views on U.S. manufacturing costs and called for prioritizing automation and efficiency.
What Happened:&nbsp;&#8220;The U.S. is currently screwed,&#8221;&nbsp;Kyle Vogt&nbsp;wrote on X, formerly Twitter. &#8220;Good companies know they can&#8217;t succeed w/o leveraging low-cost mfg elsewhere. Tariffs won&#8217;t get us out of this rut.&#8221;
Vogt emphasized the importance of prioritizing efficiency, automation, and advancements in the manufacturing process.
He stepped down from the company in November after one of its autonomous vehicles<a target="_blank" href="https://www.benzinga.com/news/23/10/35052444/self-driving-cruise-car-accident-leaves-pedestrian-trapped-and-injured-in-san-francisco" rel="noreferrer noopener">&nbsp;got involved in an accident</a>&nbsp;in San Francisco in October.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The US is currently screwed. Good companies know they can&#39;t succeed w/o leveraging low cost mfg elsewhere. Tariffs won&#39;t get us out of this rut. We must prioritize efficiency, automation, and progress, as uncomfortable to some as that may be.
&mdash; Kyle Vogt (@kvogt) <a href="https://twitter.com/kvogt/status/1785903157538886006?ref_src=twsrc%5Etfw">May 2, 2024</a></blockquote>
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Costs &amp; Competition:&nbsp;U.S. companies, particularly automakers, have voiced concerns over the past year regarding&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37327343/tesla-a-partner-and-not-competition-says-byd-chinese-firm-not-eyeing-us-market-just-yet" rel="noreferrer noopener">Chinese companies entering the U.S. market</a>.&nbsp;
These companies argue that due to lower manufacturing costs in China, Chinese EVs will be priced more competitively, threatening domestic manufacturers.
Additionally, there are worries about Chinese companies potentially establishing factories in Mexico to gain a foothold in the U.S. market while&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37150531/colossal-strategic-threat-ford-ev-exec-says-wed-better-get-fit-now-on-chinese-rivalry-after-byd-come" rel="noreferrer noopener">avoiding high tariffs</a>&nbsp;on direct Chinese imports.
Earlier this year,&nbsp;Elon Musk, CEO of U.S. electric vehicle giant&nbsp;Tesla Inc., echoed these concerns regarding competition from China. He stated, &#8220;Frankly, I think if there are no trade barriers established, they will pretty much demolish most other car companies in the world.&#8221;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/05/38582801/s-p-dials-down-teslas-governance-score-amid-concerns-over-elon-musks-dominance-but-retains-bbb-credi">S&amp;P Dials Down Tesla&#8217;s Governance Score Amid Concerns Over Elon Musk&#8217;s Dominance — But Retains &#8216;BBB&#8217; Credit Rating</a>
<a href="https://www.flickr.com/photos/techcrunch/53202133526/in/photolist-2p4hQLf-9fzgmE-2qhYzP-WgnfHd-M6tKvK-2p4jpr6-2p4hQLq-2p4jyV7-2p4hQLa-a5uY5c-2p4cTn3-2p4iZdL-2p4jz12-2p4hQMs-2p4hQKP-2p4jpw1-2p4jyZF-2p4hQLR-2p4cTn8-2p4jpvz-WvTDZ-nNPCxS-2p4jz1s-2p4hQGY-2p4jpv9-dVev5b-2p4jprb-2p4jyZf-WN5dvw-WN5rKC-WQj3VP-eZCbQY-WN5t75-WeWBTq-Vy75Vs-WAEhob-feXNbo-2p4cTq9-WN5ewQ-WN5qYY-VC6mNg-Wzd9Qo-2p4cTnd-BFdukm-WAEhRf-VC6sVr-WN5sff-WLDhNA-dRFj26-WLDgym" target="_blank" rel="noreferrer noopener">Photo</a> via TechCrunch On Flickr

Tech

'US Is Currently Sc***ed:' Ex-Cruise CEO Calls For Manufacturing Makeover To Win Over Chinese Auto Rivals 'Because Tariffs Won't Get Us Out Of This Rut'

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) to report quarterly earnings at $2.76 per share on revenue of $3.11 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Hershey shares rose 0.5% to $196.80 in after-hours trading.</li>
<li>Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reported better-than-expected results for its second quarter. The company announced a $110-billion stock buyback program and a one-penny-per-share increase in its quarterly dividend. Apple shares gained 6% to $183.46 in the after-hours trading session.</li>
<li>Analysts are expecting American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) to post quarterly earnings at 2 cents per share on revenue of $1.53 billion. The company will release earnings before the markets open. American Axle shares gained 4.5% to $7.65 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) reported upbeat sales for its first quarter. The company reported GAAP EPS of $4.40. Coinbase said it sees second-quarter subscription and services revenue to be in a range of $525 million to $600 million. Coinbase shares fell 2.2% to $223.73 in the after-hours trading session.</li>
<li>Analysts expect Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) to post quarterly earnings at 54 cents per share on revenue of $4 billion before the opening bell. Fluor shares rose 0.4% to $41.39 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38582620/jim-cramer-this-pc-maker-is-a-good-stock-to-own-okta-is-terrific">Jim Cramer: This PC Maker Is A &#8216;Good Stock To Own&#8217;, Okta Is &#8216;Terrific&#8217;</a>

Earnings Beats

AAPL

COIN

Apple, Hershey And 3 Stocks To Watch Heading Into Friday

Kolibri Global Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KGEI#NASDAQ">KGEI</a>) reported quarterly earnings of $0.14 per share. This is a 75 percent increase over earnings of $0.08 per share from the same period last year. The company reported $9.73 million in sales this quarter. This is a 27.57 percent decrease over sales of $13.44 million the same period last year.

KGEI

Kolibri Global Energy Q4 EPS $0.14 Up From $0.08 YoY, Sales $9.73M Down From $13.44M YoY

Gerdau (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GGB#NYSE">GGB</a>) reported B$16.210 billion in sales this quarter. This is a 14.11 percent decrease over sales of B$18.872 billion the same period last year.

Gerdau Q1 Sales R$16.210B Down From R$18.872B YoY; Adj. Net Income R$1.245B Down From R$2.388B YoY

CNBC&#8217;s Jim Cramer has expressed his support for the initial public offering of Viking Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIK#NYSE">VIK</a>), despite its high valuation.
What Happened: Cramer, on his show &#8220;Mad Money&#8221; on Thursday, discussed the IPO of Viking, a luxury cruise line, which is the largest IPO of the year so far, <a href="https://www.cnbc.com/2024/05/02/cramer-says-hes-willing-to-pay-up-for-viking-biggest-ipo-of-the-year.html">reported</a> CNBC. 
He noted that Viking&#8217;s stock is more expensive than its peers but still believes it&#8217;s a good investment.
Viking&#8217;s IPO was priced at $24 per share and began trading at $26.15 on Wednesday, closing at $26.10. The stock further rose to $26.99 on Thursday.
"Even though Viking's somewhat hot start has made its stock more expensive than its cruise line peers, I am willing to pay up for this one, because I think it's going to be a winner," he said.
Cramer highlighted Viking&#8217;s unique selling points, such as its ships not having casinos and being adults-only, as well as its focus on affluent customers and niche destinations. He believes these factors give Viking a competitive edge.
"Viking's got a cleaner balance sheet than its peers, differentiated brand, it caters exclusively to high-end customers &#8230; part of the business I expect to hold up better than the mass market side of things," he said.
Despite Viking&#8217;s preliminary first-quarter results showing a slowdown in growth since the pandemic, Cramer remains optimistic about its future. He acknowledged that Viking&#8217;s balance sheet isn&#8217;t perfect, but he sees it as a better option compared to other publicly traded cruise lines.
See Also: <a href="https://www.benzinga.com/news/24/04/38490818/if-you-invested-1000-in-chipotle-mexican-grill-a-decade-ago-this-is-how-much-itd-be-worth-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 in Chipotle Mexican Grill a Decade Ago, This is How Much It&#8217;d Be Worth Now</a>
He suggested that investors buy Viking stock at its current price, even though he would prefer it to be more in line with its peers, which he estimates to be around $20. Cramer believes Viking&#8217;s unique business model and target audience justify its premium valuation.
Why It Matters: Viking&#8217;s IPO comes at a time of optimism for the stock market. In March, Bank of America&#8217;s technical strategist, Stephen Suttmeier, predicted that the S&amp;P 500 could <a href="https://www.benzinga.com/markets/equities/24/03/37926504/stock-market-could-rally-another-34-by-2026-says-bank-of-america">surge by 34%</a> by the end of 2026, with no end in sight for the secular bull rally.
Moreover, the cruise industry has been innovating to attract new customers. For instance, Virgin Voyages recently introduced <a href="https://www.benzinga.com/news/24/04/38104334/workplace-on-waves-richard-branson-launches-remote-work-boat-with-virgin-voyages-extended-sea-workat">a month-long cruise package</a> specifically designed for remote workers, combining work and travel in an unprecedented way.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38540161/is-bitcoin-heading-for-a-dip-ahead-of-fomc-analyst-predicts-potential-cascade-towar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Bitcoin Heading For A Dip Ahead Of FOMC? Analyst Predicts Potential &#8216;Cascade Towards $55-58K&#8217; Before Rebound</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Equities

IPOs

Jim Cramer Backs Viking's IPO Despite Premium Price: 'I Think It's Going To Be A Winner'

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reported&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe" rel="noreferrer noopener">a modest beat on its quarterly earnings</a>&nbsp;and issued June-quarter revenue guidance that wasn&#8217;t as bad as feared. The stock, however, took off thanks to the company&#8217;s generous shareholder return plan. Apple hiked its quarterly dividend by 4.17% and announced its biggest-ever stock buyback, which surprised even&nbsp;Tesla&#8216;s Technoking.
What Happened: News of Apple&#8217;s massive $110 billion stock buyback program was posted online by global capital markets commentator&nbsp;The Kobeissi Letter. The iPhone maker&#8217;s largesse toward shareholders caught the eye of Tesla CEO&nbsp;Elon Musk. He simply replied &#8220;Wow&#8221; to the post by The Kobeissi Letter.&nbsp;
The Kobeissi Letter replied to Musk saying there&#8217;s a trend of big tech companies ramping up buybacks, with U.S. stock repurchases expected to cross $1 trillion for the first time&nbsp;ever&nbsp;this year. &#8220;All eyes are on Tesla&#8230;&#8221; it added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Big tech stock buybacks are ramping up and total US stock buybacks are set to cross $1 trillion for the first time ever this year. All eyes are on Tesla&#8230;&#x1f440;
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1786254589668323393?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-apple-stock" rel="noreferrer noopener">Everything You Need To Know About Apple Stock</a>
Tesla&#8217;s Buyback Dilemma:&nbsp;In 2022, Tesla faced pressure from investors to initiate buybacks to lift its stock price. Musk mentioned in October 2022 that a $5 billion to $10 billion buyback for 2023 was discussed &#8220;extensively&#8221; by the board. However, the capital-intensive nature of the electric vehicle industry necessitates constant investment in production.&nbsp;
Currently, Tesla is navigating&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38257532/tesla-stock-tumbles-as-category-5-demand-storm-persists-whats-going-on" rel="noreferrer noopener">a &#8220;Category 5 storm&#8221;</a>&nbsp;of waning demand and fierce competition, making capital preservation even more crucial.
Cook Draws Some Flak:&nbsp;&nbsp;Not everyone is applauding Apple&#8217;s buyback plan. Some social media users criticized CEO&nbsp;Tim Cook&nbsp;for prioritizing numbers and investor appeasement over innovation.&nbsp;
One user commented, &#8220;Tim Cook will go down as one of the worst CEOs in history I predict. What happens when you replace a &#8216;visionary&#8217; product-centric CEO with a numbers-focused CEO only concerned about profits &amp; share price? Innovation stagnates as there is 0 risk tolerance or vision&nbsp;4&nbsp;future.&#8221;
&#8216;Mag 7&#8217; Pressure? Alphabet became the latest &#8220;Magnificent Seven&#8221; company to <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more" target="_blank" rel="noreferrer noopener">initiate a dividend policy</a>, leaving only Amazon and Tesla as holdouts in this elite group. Microsoft said it returned $8.4 billion to shareholders in the form of share repurchases and dividends in the third quarter, while Facebook parent Meta Platforms also announced in February that, for the very first time, it will be rewarding its shareholders with dividends.
Price Action: Apple shares added 6.03% to $183.46 in after-hours trading, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38604705/gene-munsters-take-on-apples-q2-beat-june-quarter-guidance-things-get-easier-for-ap">Gene Munster&#8217;s Take On Apple&#8217;s Q2 Beat, June Quarter Guidance: &#8216;Things Get Easier For Apple In The Back Half Of Year&#8217;</a>
Photo by Frederic Legrand &#8211; COMEO on Shutterstock

Dividends

Buybacks

Elon Musk Wowed By Apple's Biggest Stock Buyback — Will Tesla Follow Suit Or Remain Stuck In 'Category 5' Storm?

Plains All American Pipeline, L.P.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) is expected to release earnings results for its first quarter, before the <a href="https://www.benzinga.com/quote/PAA/analyst-ratings">opening bell on May 3</a>.
Analysts expect the Houston, Texas-based company to report quarterly earnings at 39 cents per share, down from 41 cents per share in the year-ago quarter. Plains All American Pipeline is projected to report quarterly revenue of $12.98 billion, compared to $15.34 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 9, Plains All American Pipeline reported fourth-quarter fiscal 2023 revenue of $12.698 billion, in line with the consensus of $12.694 billion.
Plains All American Pipeline shares rose 1.8% to close at $17.23 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/PAA/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Stifel analyst Selman Akyol maintained a Buy rating and raised the price target from $18 to $22 on April 16. This analyst has an accuracy rate of 71%.</li>
<li>UBS analyst Shneur Gershuni maintained a Buy rating and increased the price target from $21 to $22 on April 12. This analyst has an accuracy rate of 80%.</li>
<li>Goldman Sachs analyst John Mackay maintained a Sell rating and boosted the price target from $14.5 to $16 on April 12. This analyst has an accuracy rate of 71%.</li>
<li>Citigroup analyst Spiro Dounis maintained a Neutral rating and raised the price target from $16.5 to $17.5 on March 1. This analyst has an accuracy rate of 69%.</li>
<li>Barclays analyst Theresa Chen downgraded the stock from Equal-Weight to Underweight with a price target of $15 on Sept. 25, 2023. This analyst has an accuracy rate of 82%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38582505/wall-streets-most-accurate-analysts-say-buy-these-3-utilities-stocks-with-over-3-dividen">Wall Street&#8217;s Most Accurate Analysts Say Buy These 3 Utilities Stocks With Over 3% Dividend Yields</a>

Price Target

Plains All American Pipeline Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Soleno has also granted the underwriters a 30-day option to purchase up to 450,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The public offering is expected to close on or about May 7, 2024, subject to market conditions and the satisfaction of customary closing conditions

SLNO

Reported Earlier, Soleno Therapeutics Prices $138M Public Offering Of 3M Common Stock At $46/Share

In response to mounting criticism over its <a href="https://www.benzinga.com/news/24/04/38190146/microsofts-latest-security-breach-whats-at-stake-for-company-integrity-and-trust">handling of cyberattacks</a>, Satya Nadella-led Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has announced the appointment of new security chiefs to its product groups.
What Happened: The tech giant has named Ann Johnson as the deputy chief information security officer or CISO to oversee communication and outreach regarding the company&#8217;s security, <a href="https://www.bloomberg.com/news/articles/2024-05-02/microsoft-adds-security-chiefs-to-product-groups-in-wake-of-hacking-woes?srnd=technology-vp">reported</a> Bloomberg on Friday. 
Johnson, who has been with Microsoft since 2015, will focus on customer engagement and communication about the company&#8217;s security. 
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Microsoft is also adding deputy CISOs to its product groups, with the new appointees reporting to Igor Tsyganskiy, the global CISO. The company, however, did not disclose the names of these new officials.
Why It Matters: Microsoft has been grappling with a <a href="https://www.benzinga.com/markets/equities/24/03/37561005/microsoft-says-russian-hackers-stole-code-after-spying-on-top-executives-attack-still-ongoing">string of security breaches</a>, raising concerns about the company&#8217;s integrity and trust. 
In April, it was reported that internal company files and credentials were exposed to the internet, and in January, the <a href="https://www.benzinga.com/news/24/01/36705147/microsofts-top-executives-emails-breached-by-russian-intelligence-group-responsible-for-solarwinds-h">email accounts of top Microsoft executives</a> were breached by a Russian intelligence group. 
These incidents have led to calls for urgent reforms and mandatory cybersecurity standards for collaboration software, with <a href="https://www.benzinga.com/government/24/04/38439394/ai-is-going-well-for-microsoft-but-cybersecurity-is-not">some questioning the effectiveness</a> of Microsoft&#8217;s Secure Future Initiative.
Despite these challenges, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">Microsoft saw a 17% year-over-year</a> rise in third-quarter revenue, reaching $61.9 billion, surpassing the consensus estimate of $60.804 billion, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38480373/musk-vs-moskovitz-rages-on-as-tesla-ceo-trolls-facebook-co-founders-company-why-would-anyone-pay-mon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder&#8217;s Company: &#8216;Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?&#8217;</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

MSFT

Satya Nadella-Led Microsoft To Beef Up Security Team After Facing Criticism Over Cyberattacks

As Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reports its <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">second-quarter 2024 earnings</a>, CEO Tim Cook has criticized the U.S. Department of Justice&#8217;s or DOJ antitrust lawsuit against the tech giant, calling it &#8220;misguided.&#8221;
What Happened: On Thursday, Apple reported its second-quarter results that outperformed&nbsp;<a href="https://www.benzinga.com/news/earnings/24/05/38580920/will-apple-crack-ai-code-and-spark-investor-optimism-tim-cooks-tech-strategy-in-focus-amid-expected" target="_blank" rel="noreferrer noopener">muted goals</a>. During the same time, Cook gave an interview to CNBC and addressed the DOJ&#8217;s antitrust lawsuit against the tech giant, <a href="https://www.theverge.com/2024/5/2/24147601/tim-cook-calls-dojs-antitrust-case-against-apple-misguided-in-first-public-comments-on-lawsuit">reported</a> The Verge. 
He called the case &#8220;misguided&#8221; and promised Apple would contest it. He also expressed concern about the lawsuit becoming a &#8220;distraction&#8221; for the company.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38512965/youtube-tech-reviewer-mkbhd-deems-rabbit-r1-barely-reviewable-after-humane-ai-pin-takedown-its-just?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">YouTube Tech Reviewer MKBHD Deems Rabbit R1 &#8216;Barely Reviewable&#8217; After Humane AI Pin Takedown: &#8216;It&#8217;s Just Exhausting&#8217;</a>
&#8220;I think the case is misguided, and we're going to fight it,&#8221; he said, adding, &#8220;It's my job to make sure it doesn't become a distraction. And so, you know, if you look at what they're trying to do, is essentially use the law to define how we design products. And that shouldn't be like that.&#8221;
Why It Matters: The DOJ filed the&nbsp;<a href="https://www.benzinga.com/news/24/03/37862409/apple-accused-of-illegally-maintaining-iphone-dominance-in-upcoming-doj-lawsuit-report">lawsuit against Apple</a> in March&nbsp;after a lengthy investigation. 
The department alleges&nbsp;that Apple has engaged in&nbsp;anticompetitive behavior&nbsp;by making it difficult for&nbsp;users to switch to other&nbsp;platforms. This included restricting iPhone technologies to its apps and services,&nbsp;keeping iMessage exclusive to Apple&nbsp;devices, limiting third-party digital wallets,&nbsp;and restricting Apple Watch compatibility.
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Apple has strongly refuted these claims. The company previously stated that the <a href="https://www.benzinga.com/markets/equities/24/03/37872817/apple-says-dangerous-doj-lawsuit-threatens-who-we-are-vows-to-fight-against-it">lawsuit &#8220;threatens who we are&#8221;</a> and undermines the company&#8217;s principles. The company also argues&nbsp;that the lawsuit sets a&nbsp;&#8220;dangerous precedent&#8221; by allowing governments to dictate how technology is designed.
&#8220;We believe this lawsuit is wrong on the facts and the law, and we will vigorously defend against it,&#8221; Apple told Benzinga in March in an emailed statement. 
Photo Courtesy: Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38480373/musk-vs-moskovitz-rages-on-as-tesla-ceo-trolls-facebook-co-founders-company-why-would-anyone-pay-mon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder&#8217;s Company: &#8216;Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Legal

Tim Cook Blasts DOJ's Antitrust Lawsuit Against Apple, Says He's Going To Make Sure It Doesn't Become A Distraction: 'We're Going To Fight It'

Renowned economist and gold advocate Peter Schiff used the drastic plunge in Peloton Interactive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) stock to illustrate his theory on the mispricing of gold mining stocks.
What Happened: Schiff highlights the staggering 98.5% decline in Peloton&#8217;s stock, which reached a record low of $2.70. He emphasized how this situation mirrors the current state of gold mining stocks, but in reverse.
&#8220;#Peloton stock is down another 13% today, hitting another record low of $2.70. During the pandemic shares traded as high as $171. That&#8217;s a decline of 98.5%. This shows how badly stocks can be mispriced. The same situation exists today with #gold mining stocks, only in reverse,&#8221; Schiff wrote on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Peloton?src=hash&amp;ref_src=twsrc%5Etfw">#Peloton</a> stock is down another 13% today, hitting another record low of $2.70. During the pandemic shares traded as high as $171. That&#39;s a decline of 98.5%. This shows how badly stocks can be mispriced. The same situation exists today with <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> mining stocks, only in reverse.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1786052596706247091?ref_src=twsrc%5Etfw">May 2, 2024</a></blockquote>
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Schiff&#8217;s commentary highlighted the drastic decline in Peloton stock, shedding light on the potential for mispricing in the market. This phenomenon is evident in the gold mining sector, albeit in reverse. 
Schiff&#8217;s commentary comes as gold mining stocks exhibit varied performance. Barrick Gold Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) is currently trading at $16.55, marking a 7.44% decline year to date. US Goldmining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USGO#NASDAQ">USGO</a>) is trading at $6.09, experiencing a 17.37% decrease year to date. SSR Mining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSRM#NASDAQ">SSRM</a>) is priced at $5.40, reflecting a 49.30% decrease year to date. Conversely, Kinross Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) is trading at $6.55, indicating a 10.64% increase year to date, while Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) is at $41.05, showing a modest 0.34% uptick year to date.<a href="https://twitter.com/PeterSchiff/status/1786052596706247091"></a>
See Also: <a href="https://www.benzinga.com/partner/commodities/24/04/38487758/why-gold-prices-are-at-record-highs-and-what-it-means-for-miners?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Gold Prices Are At Record Highs And What It Means For Miners</a>
Why It Matters: Schiff&#8217;s remarks come in the wake of a series of events that have impacted the financial markets. Earlier in April, Schiff&#8217;s firm, Schiff Gold, suggested that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397480/gold-to-rally-even-higher-on-nvidia-big-tech-schiffs-firm-says-ai-has-looped-around">gold could rally even higher</a> due to its increasing use in technology, a trend that may not be fully appreciated by the market.
At the same time, Schiff has been a vocal critic of cryptocurrencies, challenging the predictions of a $100,000 Bitcoin price and suggesting that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38265256/peter-schiff-challenges-bitcoins-100k-prediction-as-crypto-linked-stocks-languish-i">crypto-linked stocks are languishing</a> in a bear market despite Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price movements.
Meanwhile, the global economy has been showing signs of resilience, with the&nbsp;Organization for Economic Cooperation and Development&nbsp;revising its 2024 <a href="https://www.benzinga.com/news/24/05/38575037/world-economy-seeks-to-avoid-stagflation-as-oecd-lifts-global-growth-forecast-for-2024">growth forecast upwards</a>, indicating a potential escape from a stagflationary rut. This could have implications for the broader market, including the gold mining sectors.
Amid these developments, Schiff&#8217;s comments on the mispricing of gold mining stocks and the Peloton stock&#8217;s dramatic decline serve as a reminder of the potential risks and opportunities in the current market environment.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38570836/bitcoins-historical-data-suggests-a-potential-99-surge-says-crypto-analyst-time-to-buy-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Historical Data Suggests A Potential 99% Surge, Says Crypto Analyst: &#8216;Time To Buy The Dip!&#8217;</a>
Image Via Wikimedia Commons
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

$BTC

GOLD

PTON

SSRM

USGO

Peter Schiff Highlights Pandemic Darling Stock's 98.5% Decline To Make A Point About Mispriced Gold Mining Stocks: 'Same Situation Exists Today'

The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/HSY/earnings">opening bell on May 3, 2024.</a>
Analysts expect the Hershey, Pennsylvania-based company to report quarterly earnings at $2.76 per share, down from $2.96 per share in the year-ago period. Hershey is projected to report quarterly revenue of $3.11 billion, compared to $2.99 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 8, Hershey reported mixed fourth-quarter financial results and raised its quarterly dividend.
Hershey shares rose 1.1% to close at $195.88 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/HSY/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and cut the price target from $205 to $200 on April 17. This analyst has an accuracy rate of 64%.</li>
<li>Piper Sandler analyst Michael Lavery maintained a Neutral rating and slashed the price target from $200 to $179 on April 15. This analyst has an accuracy rate of 71%.</li>
<li>Morgan Stanley analyst Pamela Kaufman downgraded the stock from Equal-Weight to Underweight and cut the price target from $191 to $183 on Feb. 12. This analyst has an accuracy rate of 66%.</li>
<li>Barclays analyst Lauren Lieberman maintained an Equal-Weight rating and boosted the price target from $200 to $210 on Feb. 12. This analyst has an accuracy rate of 60%.</li>
<li>JP Morgan analyst Ken Goldman maintained a Neutral rating and increased the price target from $185 to $193 on Feb. 9. This analyst has an accuracy rate of 80%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/05/38582620/jim-cramer-this-pc-maker-is-a-good-stock-to-own-okta-is-terrific">Jim Cramer: This PC Maker Is A &#8216;Good Stock To Own&#8217;, Okta Is &#8216;Terrific&#8217;</a>

Hershey Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Robert Kiyosaki, the author of the best-selling book &#8220;Rich Dad Poor Dad,&#8221; has shared his strategy for navigating the ongoing Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market crash, highlighting the potential for wealth growth during such periods.
What Happened: Kiyosaki took to social media platform X, to share his insights on the current market situation. He began by acknowledging the commencement of a &#8220;bad&#8221; crash, but also pointed out that such downturns present unique opportunities for wealth accumulation.
He warned against the devaluation of fiat currencies and encouraged his followers to view the crash as a potential turning point in their financial journey.
&#8220;DON'T SAVE MONEY: Fake money (US dollar, Euro, Yen, Peso) goes down in value. Save gold, silver, Bitcoin, real money that goes up in value, especially in a market crash. TAKE CARE and make this CRASH the best thing that ever happened to you,&#8221; Kiyosaki said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BAD NEWS: CRASH has BEGUN. It will be a bad one. GOOD NEWS: CRASHES are the best time to get rich. Bargains will float to the surface. RULES to REMEMBER in a CRASH: 1: DON'T CATCH FALLING KNIVES: Just because prices are falling DO NOT get GREEDY. Wait til prices have…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1786227254168629296?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
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The author outlined six rules to follow during a market crash. These included refraining from making impulsive investment decisions, seeking out reliable sources of information, surrounding oneself with like-minded individuals, starting a side business, choosing the right mentors, and investing in assets that retain or increase in value, such as gold, silver, and Bitcoin.
See Also: <a href="https://www.benzinga.com/partner/commodities/24/04/38464603/insider-buying-vuzix-nasdaq-vuzi-executives-including-ceo-snap-up-shares?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">INSIDER BUYING: Vuzix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VUZI#NASDAQ">VUZI</a>) Executives Including CEO Snap Up Shares</a>
Why It Matters: Kiyosaki&#8217;s advice comes at a time when the global economy is facing significant challenges. The U.S. is grappling with the specter of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38480911/stagflation-spectre-haunts-us-economy-experts-warn-on-slow-growth-and-inflation-aft">stagflation</a>, a scenario characterized by slow growth and rising inflation. This has led to concerns about the future of the economy.
The Federal Reserve has decided to&nbsp;<a href="https://www.benzinga.com/news/econ-s/24/05/38561640/fed-keeps-interest-rates-steady-announces-slower-than-expected-pace-of-balance-sheet-runoff" target="_blank" rel="noreferrer noopener">keep interest rates steady</a>, emphasizing the need to allow more time for restrictive monetary policies to bring inflation towards the Fed's 2% goal. This decision has had a significant impact on market dynamics.
"The inflation data received so far this year have been higher than expected," Federal Reserve Chair&nbsp;Jerome Powell&nbsp;said on Wednesday, adding that it is likely that gaining&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel" target="_blank" rel="noreferrer noopener">greater confidence in disinflation</a>&nbsp;will take longer than previously thought.
However, there are also signs of resilience in the global economy, with the <a href="https://www.benzinga.com/news/24/05/38575037/world-economy-seeks-to-avoid-stagflation-as-oecd-lifts-global-growth-forecast-for-2024">OECD revising its 2024 growth forecast upwards</a>. This indicates a potential escape from the stagflationary trend, offering a glimmer of hope for the future.
Earlier in the year, Kiyosaki had also <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37922090/rich-dad-poor-dad-author-robert-kiyosaki-says-buy-as-much-bitcoin-as-you-can-afford">expressed his bullish stance on Bitcoin</a>, urging investors to buy as much as they could afford. His recent strategy aligns with this stance, emphasizing the potential of Bitcoin as a valuable asset during market downturns.
Price Action: Bitcoin is presently trading at $59,7790, up 1.19% over the last 24 hours. Nonetheless, it has surged by 35.31% since the beginning of the year, according to the data <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38490818/if-you-invested-1000-in-chipotle-mexican-grill-a-decade-ago-this-is-how-much-itd-be-worth-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 in Chipotle Mexican Grill a Decade Ago, This is How Much It&#8217;d Be Worth Now</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Social Media

Economics

VUZI

'Rich Dad Poor Dad' Author Robert Kiyosaki Unveils His Bitcoin Strategy Amid Market Crash: 'The Best Time To Get Rich'

Macro Economic Events

Econ #s

Reported Earlier, Australia Home Loans (MoM) 2.8% Vs. 1.0% Est.; 1.6% Prior

Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) has experienced a significant surge in customer adoption and trading activity across its platforms, driven by the launch of several Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot ETFs in the U.S. during the first quarter of 2024.
What Happened: Coinbase&#8217;s co-founder and CEO Brian Armstrong attributed the record growth to the excitement around Bitcoin ETFs. This led to all-time highs in trading volume and active clients, particularly in the institutional business.
&#8220;The excitement around Bitcoin ETFs drove new customer adoption across our product suite,&#8221; said Armstrong. &#8220;We saw all-time highs in trading volume and active clients, for instance, in our institutional business.&#8221;
The company&#8217;s institutional prime brokerage business, Coinbase Prime, also saw record levels of trading volume and active clients in the first quarter, driven by the Bitcoin ETF rollouts. 
This resulted in a significant increase in other transaction revenue, previously included in consumer transaction revenue, primarily due to higher Base sequencer fees and payment-related revenue, as indicated by Coinbase CFO Alesia Haas.
See Also: <a href="https://www.benzinga.com/news/24/04/38518177/29-year-old-tesla-worker-who-got-fired-says-he-slept-in-parking-lot-showered-at-factory-and-ate-micr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">29-Year-Old Tesla Worker Who Got Fired Says He Slept In Parking Lot, Showered At Factory And Ate Microwaved Dinner: &#8216;Sacrificed A Lot For The Company&#8217;</a>
During the quarter, 40% of Coinbase&#8217;s institutional clients engaged with three or more Coinbase Prime products, such as custody, trading, staking, and financing. 
This, according to Coinbase&#8217;s President and COO Emilie Choi, directly impacted the company&#8217;s financials, leading to a 69% quarter-over-quarter growth in assets under custody to $171 billion and a 64% growth in custodial fee revenue to $32 million.
The approval of spot Bitcoin ETFs in early 2024 marked a significant milestone in the cryptocurrency industry. It reshaped market dynamics and contributed to Bitcoin&#8217;s surge to a new record high. The launch of ETFs like ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>), Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), and VanEck Bitcoin Trust (BATS:<a class="ticker" href="https://www.benzinga.com/stock/HODL#BATS">HODL</a>) saw substantial trading volumes. 
ARK 21Shares recorded a volume of 1,717,102 shares, Fidelity Wise Origin Bitcoin Fund saw a volume of 23,013,692 shares, and VanEck Bitcoin Trust had a volume of 106,685 shares. 
Why It Matters: The surge in Coinbase&#8217;s Q1 performance is in line with the company&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38598804/coinbase-q1-earnings-highlights-revenue-beat-institutional-trading-volume-hits-all-time-hi">revenue beat and institutional trading volume</a> hitting an all-time high. The company reported total revenue of $1.64 billion, surpassing a Street consensus estimate of $1.34 billion and a GAAP EPS of $4.40.
Before the earnings report, Coinbase&#8217;s stock had <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38557434/coinbase-up-300-in-a-year-but-faces-bearish-technicals-ahead-of-q1-earnings">surged over 300%</a> in the past year, riding the crypto boom. The stock&#8217;s surge compared favorably to Bitcoin&#8217;s price, which rose by 103.13% over the past year. This performance indicates the company&#8217;s strong position in the market.
Additionally, Coinbase&#8217;s decision to <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38522744/coinbase-rolls-out-lightning-network-support-in-collaboration-with-lightspark">roll out support for the Lightning Network</a> in collaboration with Lightspark, the largest U.S. crypto exchange by trading volume, has also contributed to the company&#8217;s growth. The Lightning Network offers a faster and cheaper way for users to send, receive, or pay with Bitcoin directly from their account, addressing scalability issues and enhancing the overall user experience.
Price Action: On Thursday&#8217;s close, Coinbase Global Inc. traded at $223.70 in after-hours trading, marking a 2.25% decrease from the previous close, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says If Supreme Court Decides President Doesn&#8217;t Get Immunity Then Biden &#8216;Will Be Prosecuted For All His Crimes&#8217;</a>
Image Via Shutterstock 
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

ETFs

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Bitcoin ETF Mania Drives Record Growth Across Coinbase's Platforms, CEO Brian Armstrong Notes 'We Saw All-Time Highs In Trading Volume...'

Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) CEO Jack Dorsey addressed a potential Department of Justice investigation during the company&#8217;s first-quarter earnings call on Thursday.
What Happened: Dorsey clarified that the company had proactively investigated potential threats in 2022, leading to a thorough review of transactions possibly linked to sanctioned countries. 
Dorsey stated, &#8220;In 2022, our compliance engineering risk team who proactively investigate threats identified signals that lead us to conduct a thorough review of transactions potentially associated with sanctioned countries.&#8221;
According to Dorsey, these transactions were voluntarily reported to the Office of Foreign Assets Control, and the company received a no-action letter from OFAC, indicating no further investigation or action was required at the time.
Regarding the prevention of tariff financing through Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Dorsey highlighted the company&#8217;s robust control environment, including the use of leading blockchain analytics firms to screen transactions in real time and maintaining some of the most restrictive limits in the industry for on-chain Bitcoin withdrawals.
&#8220;As it relates to preventing tariffs financing via Bitcoin, we have a robust control environment in place to mitigate exposure from adversaries. For instance, we use industry-leading blockchain analytics firms to screen transactions in real time. We also maintained some of the most restrictive limits in the industry for on chain Bitcoin withdrawals, which are deliberately calibrated to prevent bad activity,&#8221; Dorsey said. 
See Also: <a href="https://www.benzinga.com/partner/commodities/24/04/38464603/insider-buying-vuzix-nasdaq-vuzi-executives-including-ceo-snap-up-shares?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">INSIDER BUYING: Vuzix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VUZI#NASDAQ">VUZI</a>) Executives Including CEO Snap Up Shares</a>
He also emphasized the company&#8217;s commitment to compliance, stating that it is foundational to their work and that they continuously improve their compliance program based on various inputs, including self-identified issues, audits, and guidance from regulators.
&#8220;We take compliance seriously at Block. A culture of compliance is foundational to our work. We have a radically transparent culture that supports us. Employees are empowered to raise issues through multiple channels, including directly to me or anonymously through our Whistleblower hotline,&#8221; Dorsey said. 
Why It Matters: The earnings call comes amid a surge in Block Inc.&#8217;s stock price following the company&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38599124/block-stock-soars-on-q1-earnings-strategic-bitcoin-investment-details">strong first-quarter earnings</a> report. 
Despite the positive financial results, the company has been under scrutiny due to allegations of <a href="https://www.benzinga.com/news/24/05/38554959/whistleblower-claims-square-processed-crypto-transactions-for-terrorists-whats-going-on-with-block-s">processing crypto transactions for terrorists</a>. These allegations have reportedly led to a DOJ investigation, prompting Dorsey to address the issue during the earnings call.
Despite these challenges, Block Inc. has continued to make significant strides in the cryptocurrency space. Dorsey recently announced a new feature that allows <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38421167/jack-dorsey-says-block-will-allow-square-sellers-to-auto-convert-a-percent-of-daily-sales-">Square merchants</a> to convert a percentage of their daily sales into Bitcoin automatically. 
Additionally, the company has been working on making <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38413962/jack-dorsey-wants-to-make-bitcoin-mining-as-easy-as-plugging-in-a-lamp-heres-how">Bitcoin mining more accessible</a> by developing a complete Bitcoin mining system.
Price Action: Block Inc&#8217;s after-hours trading saw a notable increase, with the stock price rising to $75.78, marking a 7.80% surge from the previous close on Thursday, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38570836/bitcoins-historical-data-suggests-a-potential-99-surge-says-crypto-analyst-time-to-buy-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Historical Data Suggests A Potential 99% Surge, Says Crypto Analyst: &#8216;Time To Buy The Dip!&#8217;</a>
Image Via Shutterstock 
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Bitcoin Transaction Investigation By DOJ Addressed By Block CEO Jack Dorsey: 'We Take Compliance Seriously'

The co-creator of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Billy Markus, also known as Shibetoshi Nakamoto and popular tech YouTuber Marques Brownlee, popularly called MKBHD, have criticized Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8217;s virtual assistant, Siri, for <a href="https://www.benzinga.com/m-a/24/02/37400950/apples-abandoned-ev-project-almost-used-siri-as-the-steering-wheel-began-after-reported-deal-with-te">its underwhelming performance</a>.
What Happened: Following <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">Apple&#8217;s second quarter</a> 2024 earnings call,&nbsp;MKBHD&nbsp;took to X, formerly Twitter,&nbsp;to express his thoughts on Siri.&nbsp;
&#8220;On one hand: It seems&nbsp;like it&#8217;s only a matter&nbsp;of time before Apple starts&nbsp;making major AI-related moves around&nbsp;the iPhone and iOS and&nbsp;buries these AI-in-a-box gadgets extremely&nbsp;quickly,&#8221; he said, adding, &#8220;On the other hand: Have&nbsp;you used Siri lately?&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38574286/palantir-ceo-says-american-tech-industry-maximally-tolerant-of-any-personality-im-like-a-hyper-inexp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir CEO Says American Tech Industry &#8216;Maximally Tolerant&#8217; Of Any Personality: &#8216;I&#8217;m Like A Hyper Inexplicably Dyslexic Outsider&#8217;</a>
Markus responded to Brownlee&#8217;s post, stating,&nbsp;&#8220;I think everyone stopped using&nbsp;Siri cuz it's such a&nbsp;piece of garbage if it was tied to a competent&nbsp;GPT it might become usable&nbsp;again.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">i think everyone stopped using siri cuz it's such a piece of garbage if it was tied to a competent gpt it might become usable again
&mdash; Shibetoshi Nakamoto (@BillyM2k) <a href="https://twitter.com/BillyM2k/status/1786181877659017256?ref_src=twsrc%5Etfw">May 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
For the past decade, Siri&nbsp;has been a staple feature&nbsp;in Apple devices. However, it&nbsp;has <a href="https://www.benzinga.com/news/23/09/34310916/apples-billion-dollar-bet-could-revolutionize-siri-with-cutting-edge-generative-ai-report">fallen behind competitors</a> like Alphabet Inc.&#8216;s Google Assistant and&nbsp;Amazon Inc.&#8216;s&nbsp;Alexa in terms of functionality&nbsp;and user satisfaction.
However, in the comment section of Brownlee&#8217;s post, some users didn&#8217;t seem too excited about the prospects of Google Assistant. One person said, &#8220;Google assistant is also getting worse. It&#8217;s bizarre that the main use case for AI has been neglected so much. ChatGPT has almost natural human conversations yet Google can&#8217;t even set a timer properly.&#8221;
Why It Matters: Apple&#8217;s Siri has been under scrutiny for its performance for some time. The company has reportedly been working on improving Siri&#8217;s capabilities through AI upgrades. 
Last year, it was reported that the tech giant has been <a href="https://www.benzinga.com/news/23/09/34310916/apples-billion-dollar-bet-could-revolutionize-siri-with-cutting-edge-generative-ai-report">gearing up to unveil Siri 2.0</a>, a transformative update designed to address long-standing criticisms and challenge its rivals head-on in the voice assistant war. 
In March 2024, reports surfaced suggesting that <a href="https://www.benzinga.com/startups/24/03/37424586/apples-launching-a-futuristic-siri-and-apple-based-artificial-intelligence-as-it-looks-to-take-on-mi">Apple might unveil an upgraded version</a> of Siri featuring enhanced generative AI capabilities at its Worldwide Developers Conference (WWDC) in June. Despite these efforts, Siri&#8217;s performance continues to be a point of contention. 
Apple CEO, Tim Cook, <a href="https://www.benzinga.com/news/24/05/38604743/apple-ceo-tim-cook-hints-at-exciting-ai-developments-in-2024-but-skimps-on-details-we-are-making-sig">hinted at &#8220;exciting things&#8221; in the AI space</a> during the company&#8217;s Q2 2024 earnings call, but refrained from divulging any specifics about the upcoming AI products.
Photo by Piotr Swat on Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38508391/after-biden-signs-tiktok-ban-into-law-top-eu-leader-says-not-ruling-out-action-against-chinese-platf?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Biden Signs TikTok Ban Into Law, Top EU Leader Says Not Ruling Out Action Against Chinese Platform: &#8216;We Know Exactly The Danger&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

$DOGE

AMZN

GOOGL

Dogecoin Co-Creator And MKBHD Slam 'Siri' After Apple's Q2 Earnings: 'It's Such A Piece Of Garbage'

There's a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Soleno Therapeutics (SLNO – Research Report) and Opt...

Analysts' Top Healthcare Picks: Soleno Therapeutics (SLNO), Optinose (OPTN)

In a report released today, Thomas Flaten from Lake Street maintained a Buy rating on Optinose (OPTN – Research Report). The company's shares close...

Lake Street Sticks to Their Buy Rating for Optinose (OPTN)

OptiNose Inc (OPTN) is down -6.19%% today. OPTN has an Overall Score of 83. Find out what this means to you and get the rest of the rankings on OPTN!See Full OPTN ReportOPTN stock closed at $1.94 and is down -$0.12 during pre-market trading. Pre-market tends to be more volatile due to significantly lower volume as most inv

Premarket Mover: OptiNose Inc (OPTN) Down 6.19%

A rating of 85 puts OptiNose Inc (OPTN) near the top of the Drug Manufacturers - Specialty and Generic industry according to InvestorsObserver. OptiNose Inc's score of 85 means it scores higher than 85% of stocks in the industry. OptiNose Inc also received an overall rating of 59, putting it above 59% of all stocks. Drug M

Should You Accumulate OptiNose Inc (OPTN) in Drug Manufacturers - Specialty & Generic Industry?

Lake Street analyst Thomas Flaten maintained a Buy rating on Optinose (OPTN – Research Report) today. The company's shares closed yesterday at $1.5...

Lake Street Remains a Buy on Optinose (OPTN)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
OptiNose (NASDAQ:<a href="https://investorplace.com/stock-quotes/optn-stock-quote/">OPTN</a>) stock is taking off on Thursday after the company provided investors with an <a href="https://finance.yahoo.com/news/optinose-provides-corporate-xhance-launch-110000701.html">update on XHANCE</a> following an expansion of its use by the Food and Drug Administration (FDA).



The expansion news includes the FDA signing off on XHANCE being used as a treatment for adult patients with chronic rhinosinusitis without nasal polyps. This has it expecting to start commercialization efforts in this area soon.



In addition to that, OptiNose also announced its XHANCE revenue for the first three months of 2024. The company notes that revenue from the treatment came in at $14.9 million. That&rsquo;s a massive 26% increase compared to the same period of the year prior.



OptiNose CEO&nbsp;Ramy Mahmoud also provided the following insight on the company&rsquo;s expectations for XHANCE.




&ldquo;Based on our market analysis, we believe that our base planned efforts focused on a specialty prescriber audience can grow XHANCE peak year net revenues to more than $300 million and allow Optinose to produce positive income from operations (GAAP) for full year 2025.&rdquo;




<h2>OPTN Stock Movement Today</h2>



OPTN stock is seeing heavy trading today alongside its XHANCE announcement. That has some 16 million shares trading hands. This is well above its daily average trading volume of about 618,000 shares.



OPTN stock is up 12.4% as of Thursday morning. However, shares are still down 12.7% since the start of the year.



Investors will find more of the most recent stock market stories if they keep reading!



We offer all of the biggest stock market news that traders are going to want to know about on Thursday! A few examples include what&rsquo;s going on with shares of Meta Platforms&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>), Li Auto&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>)&nbsp;and Nio&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) stock. All of this news is ready to go at the links below!



<h2>More Stock Market News for Thursday</h2>



<ul><li><a href="https://investorplace.com/2024/04/meta-platforms-stock-is-down-10-is-this-the-beginning-of-the-end/">Meta Platforms Stock Is Down 10%. Is This the Beginning of the End?</a></li>



<li><a href="https://investorplace.com/2024/04/barclays-just-slashed-its-price-target-on-li-auto-li-stock/">Barclays Just Slashed Its Price Target on Li Auto (LI) Stock</a></li>



<li><a href="https://investorplace.com/2024/04/nio-stock-alert-nio-signs-new-battery-partnership-with-lotus/">NIO Stock Alert: Nio Signs New Battery Partnership With Lotus</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-is-optinose-optn-stock-up-12-today/">Why Is OptiNose (OPTN) Stock Up 12% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is OptiNose (OPTN) Stock Up 12% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Stocks are down today and investors wondering why have come to the right place as we have all the details behind the market slump on Thursday!



The first bit of news that is pulling stocks down today comes from Meta Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>). The social media company announced its <a href="https://finance.yahoo.com/news/meta-q1-earnings-135049624.html">outlook for Q2 2024</a> alongside its Q1 earnings results.



The problem here is the company&rsquo;s revenue guidance of $36.5 billion to $39 billion. The $37.75 billion midpoint of that outlook is below the $38.24 billion Wall Street is expecting from Meta Platforms.



That Meta Platforms earnings report has investors spooked ahead of another major earnings report. Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) is set to release its results for the first quarter of the year <a href="https://finance.yahoo.com/news/microsoft-earnings-182643613.html">after the closing bell today</a>.



Another factor weighing stocks down today is economic data in the U.S. New reports show the economy grew at an annualized pace of <a href="https://finance.yahoo.com/news/gdp-us-economy-grows-at-16-annual-pace-in-first-quarter-falling-short-of-estimates-123328472.html">1.6% in Q1 2024</a>. Experts were estimating economic growth of 2.5%. This shows that high interest rates are weighing on consumers.



Let&rsquo;s check out how this is affecting the <a href="https://finance.yahoo.com/world-indices/">major stock indices</a> below!



<h2>Stocks Down Today: Major Indices Falling</h2>



<ul><li>The S&amp;P 500 is first on our list with a 1.43% drop as of Thursday morning.</li>



<li>Next is the Dow Jones Industrial Average with a 1.81% fall as of this writing.</li>



<li>Closing us out is the NASDAQ Composite as it also slides 1.81% lower today.</li>
</ul>There are more stock market stories traders will want to read about down below!



We offer all of the hottest stock market news worth diving into on Thursday! That includes everything happening with shares of OptiNose&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/optn-stock-quote/">OPTN</a>) stock, Meta Platforms&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>)&nbsp;stock and Li Auto&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) stock today. All of this info is available at the following links!



<h2>More Stock Market News for Thursday</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-optinose-optn-stock-up-12-today/">Why Is OptiNose (OPTN) Stock Up 12% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/meta-platforms-stock-is-down-10-is-this-the-beginning-of-the-end/">Meta Platforms Stock Is Down 10%. Is This the Beginning of the End?</a></li>



<li><a href="https://investorplace.com/2024/04/barclays-just-slashed-its-price-target-on-li-auto-li-stock/">Barclays Just Slashed Its Price Target on Li Auto (LI) Stock</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-are-stocks-down-today-april-25th/">Why Are Stocks Down Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Are Stocks Down Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Bristol-Myers Squibb (NYSE:<a href="https://investorplace.com/stock-quotes/bmy-stock-quote/">BMY</a>) layoffs are a hot topic on Thursday after the biopharmaceutical&nbsp;company announced <a href="https://www.biopharmadive.com/news/bristol-myers-layoffs-restructuring-cost-savings/714254/#:~:text=Bristol%20Myers%20Squibb%20will%20cut,employees%2C%20the%20company%20said%20Thursday">major cuts are coming to its workforce</a>.



Bristol-Myers Squibb has revealed that it will reduce its headcount by 6%, or roughly 2,200 employees, with these layoffs. The company is expecting this will save it $1.5 billion per year by 2025.



These job cuts come after the company completed recent acquisition of Karuna and RayzeBio. It&rsquo;s also worth mentioning that Bristol-Myers Squibb&rsquo;s Q1 earnings report was released alongside the layoffs news. Investors were unimpressed by its results.



Bristol-Myers Squibb Chief Financial Officer David Elkins provided more details of the layoffs <a href="https://www.wsj.com/livecoverage/stock-market-today-earnings-04-25-2024/card/bristol-myers-squibb-to-cut-2-200-jobs-as-part-of-1-5-billion-cost-cutting-effort-7SscOv6dAdf0TrFvK4rN?siteid=yhoof2">during a conference call</a>. He notes that the headcount reductions are designed to make the company &ldquo;more agile,&rdquo; and plans to remove &ldquo;layers of management so decisions get made more quickly.&rdquo;



<h2>Bristol-Myers Squibb Joins Layoffs Trend</h2>



Bristol-Myers Squibb is joining a long list that continues to grow of companies that are laying off employees recently. That includes several other major players in the pharmaceutical space.



The increase in layoffs comes alongside a tough economy for businesses. That includes high inflation and increased interest rates weighing on both companies and consumers.



BMY stock is down 7.9% as of Thursday morning.



There are more stock market stories worth reading about below!



All of the latest stock market news for Tuesday is available for investors! Among that is why stocks are down today, the latest news on OptiNose&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/optn-stock-quote/">OPTN</a>) stock and more. All of this info is available at the following links!



<h2>More Thursday Stock Market News</h2>



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<li><a href="https://investorplace.com/2024/04/why-is-optinose-optn-stock-up-12-today/">Why Is OptiNose (OPTN) Stock Up 12% Today?</a></li>



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There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Longeveron (LGVN – Research Report), Optinose (OPTN ...

Analysts' Top Healthcare Picks: Longeveron (LGVN), Optinose (OPTN)

With rising medicine demand and drug shortages in the U.S., pharmaceutical stocks under $20 present lucrative opportunities for investors, promising substantial returns in a ripe market. So, I think fundamentally solid pharma stocks ACADIA Pharmaceuticals (ACAD), Amneal Pharmaceuticals (AMRX), and OptiNose (OPTN), which are currently trading under $20, could be ideal investments now. Keep reading... In the ever-evolving landscape of pharmaceutical sector, the ascent of Pharma 4.0 heralds a transformative era. Besides, the growing interest among investors in pharmaceutical stocks is highlighted by the impressive performance of the Invesco Dynamic Pharmaceuticals ETF (<a href="https://stocknews.com/stock/PJP/">PJP</a>), which has seen a substantial return of 12.9% over the past six months.
Given this perspective, investors could find value in exploring reputable pharmaceutical stocks ACADIA Pharmaceuticals Inc. (<a href="https://stocknews.com/stock/ACAD/">ACAD</a>), Amneal Pharmaceuticals, Inc. (<a href="https://stocknews.com/stock/AMRX/">AMRX</a>), and OptiNose, Inc. (<a href="https://stocknews.com/stock/OPTN/">OPTN</a>), which currently trade below $20 and are quite undervalued than their industry peers.
Drug shortages in the U.S. have <a href="https://www.biospace.com/article/us-drug-shortages-reach-all-time-high-since-2001-report-/">reached unprecedented levels</a>, with the American Society of Health-System Pharmacists reporting 323 active shortages as of the end of the first quarter of 2024. This marks the highest number since tracking began in 2001. The rising demand for medications presents a significant growth opportunity for pharmaceutical companies.
Moreover, IQVIA reports that <a href="https://www.iqvia.com/insights/the-iqvia-institute/reports-and-publications/reports/the-global-use-of-medicines-2024-outlook-to-2028">global medicine usage has increased</a> by 14% over the last five years, with a projected additional 12% rise by 2028. This surge is anticipated to elevate annual usage to 3.80 trillion defined daily doses.
On top of that, with the advent of Pharma 4.0, the pharmaceutical industry is witnessing transformative technologies. This includes the development of smart medicines and digital therapeutics, which integrate drugs with digital components, enabling real-time monitoring of dosage intake and release. The global pharma 4.0 market size is expected to reach $54.43 billion by 2031, exhibiting a <a href="https://www.coherentmarketinsights.com/industry-reports/global-pharma-4-0-market">CAGR of 18.3%</a>.
Riding on these positive waves, let's dive into the core of the top <a href="https://stocknews.com/category/pharmaceuticals/">Medical - Pharmaceuticals</a> stocks, kicking off with our third pick.
Stock #3: ACADIA Pharmaceuticals Inc. (<a href="https://stocknews.com/stock/ACAD/">ACAD</a>)
With a market cap of $2.82 billion, ACAD is a pharma company that focuses on CNS disorder treatments. Its key product is NUPLAZID for Parkinson's disease psychosis. The company is also developing DAYBUE for Rett Syndrome and has several drugs in various trial phases for conditions like schizophrenia, Prader-Willi syndrome, Alzheimer's disease psychosis, Rett syndrome, and Fragile X syndrome.
In terms of forward EV/Sales, ACAD is trading at 2.46x, 25.1% lower than the industry average of 3.29x. The stock's forward Price/Sales multiple of 2.86 is 17.9% lower than the industry average of 3.48.
On April 22, 2024, ACAD received Priority Review from Health Canada for trofinetide, a treatment for Rett syndrome, a rare neurodevelopmental disorder.
During the fiscal fourth quarter that ended December 31, 2023, ACAD's total revenues increased 69.3% year-over-year to $231.04 million. Moreover, its income from operations came to $34.94 million, compared to a loss from operations of $46.06 million in the prior-year quarter. Its net income and EPS stood at $45.80 million and $0.28, compared to net loss and net loss per share of $41.73 million and $0.26, respectively.
For the fiscal year 2024, ACAD projects net product sales to range between $370 and $420 million for DAYBUE and between $560 and $590 million for NUPLAZID. Additionally, they anticipate research and development expenses to fall between $305 and $325 million.
Analysts project ACAD's revenue for the fiscal first quarter that ended March 2024 to increase 76.2% year-over-year to $208.75 million. Its EPS is expected to be $0.06 for the same quarter. The company surpassed consensus revenue estimates in three of the trailing four quarters, which is impressive.
The stock surged 2% intraday to close the last trading session at $17.05.
ACAD's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust prospects. The stock has an overall B rating, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
ACAD has an A grade for Growth and a B for Value and Quality. Within the 161-stock <a href="https://stocknews.com/category/pharmaceuticals/">Medical – Pharmaceuticals</a> industry, it is ranked #30.
To see additional POWR Ratings for Momentum, Stability, and Sentiment for ACAD, click <a href="https://stocknews.com/stock/ACAD/">here</a>.
Stock #2: Amneal Pharmaceuticals, Inc. (<a href="https://stocknews.com/stock/AMRX/">AMRX</a>)
AMRX develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: generics; specialty; and AvKARE. Its market capitalization is $1.89 billion.
In terms of forward EV/Sales, AMRX is trading at 1.75x, 46.6% lower than the industry average of 3.29x. The stock's forward Price/Sales multiple of 0.72 is 79.4% lower than the industry average of 3.48.
On April 24, AMRX launched Over the Counter (OTC) Naloxone Hydrochloride (Naloxone HCI) Nasal Spray, USP, 4mg, following FDA approval. This generic equivalent to OTC NARCAN&#xAE; HCI Nasal Spray helps treat opioid drug overdose, including heroin, fentanyl, and prescription opioids. With a commitment to addressing public health emergencies, ARRX aims to make this emergency treatment accessible and affordable without a prescription.
On April 16, IMRX introduced PEMRYDI RTU&#xAE;, the first ready-to-use version of pemetrexed for injection, distinct from other formulations. This product streamlines administration by eliminating the need for reconstitution, dilution, or refrigeration, enhancing pharmacy efficiency and freeing up storage space.
With U.S. annual sales of pemetrexed reaching $287 million, AMRX's launch aims to provide a valuable solution for oncology care.
During the fiscal fourth quarter, which ended on December 31, 2023, AMRX's net revenue increased 1.2% year-over-year to $616.98 million and reported a gross profit of $189.83 million. The company reported <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> and net income of $142.15 million and $43.57 million, respectively. Also, it reported an adjusted EPS of $0.14 for the quarter.
As of December 31, 2023, the company's cash and cash equivalents stood at $91.54 million, compared to $25.98 million as of December 31, 2022.
For the fiscal year 2024, AMRX anticipates net revenue to range between $2.55 billion and $2.65 billion, with adjusted EBITDA projected to be in the range of $580 million to $620 million. In addition, the company's adjusted EPS is expected to fall between $0.53 and $0.63.
Street predicts AMRX's revenue for the first quarter (ended March 2024) to increase 11% year-over-year to $619.03 million, and its EPS for the same quarter is projected to come in at $0.09. Moreover, the company has an excellent earnings surprise history, surpassing consensus EPS estimates in each of the trailing four quarters.
Over the past nine months, shares of AMRX have surged 93.1% to close the last trading session at $6.12.
AMRX's shiny prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
AMRX has an A grade for Value and Sentiment and a B for Growth. It is ranked #24 in the same industry.
Beyond the POWR Ratings we've stated above, we also have AMRX ratings for Momentum, Quality, and Stability. Get all AMRX ratings <a href="https://stocknews.com/stock/AMRX/">here</a>.
Stock #1: OptiNose, Inc. (<a href="https://stocknews.com/stock/OPTN/">OPTN</a>)
OPTN is a specialty pharmaceutical company that focuses on the development and commercialization of products for patients treated by ear, nose, throat, and allergy specialists. It has a market cap of $102.31 million. The company provides XHANCE, a therapeutic product, and Onzetra Xsail, a powder EDS device.
OPTN's forward EV/Sales of 1.67x is 49.2% lower than the industry average of 3.29x. The stock's forward Price/Sales multiple of 1.03 is 70.5% lower than the industry average of 3.48.
OPTN recently celebrated the FDA approval of its XHANCE&#xAE; (fluticasone propionate) nasal spray for treating chronic rhinosinusitis without nasal polyps in patients 18 years and older. With strategic initiatives like optimized sales alignment and collaborations with specialty pharmacies, the company anticipates XHANCE's revenue peak to exceed $300 million by 2025.
OPTN reported total revenues of $19.87 million in the fiscal first quarter that ended December 31, 2023. It reduced its total cost and expenses by 23.4% year-over-year to $22.38 million. As of December 31, 2023, the company had cash and cash equivalents of $73.70 million.
For the first quarter of 2024, OPTN anticipates XHANCE net revenues to reach around $13.0 million. The company's revenue is expected to rise 15.4% year-over-year to $13.67 million in the fiscal first quarter (ended March 2024). Its EPS is likely to rise 36.8% from the previous year's quarter. Also, the company topped the consensus revenue estimates in all four trailing quarters.
The stock rose 10.6% intraday, closing the last trading session at $0.91.
It is no surprise that the stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Value, Sentiment, and Quality. OPTN is ranked #18 within the same industry.
Click <a href="https://stocknews.com/stock/OPTN/">here</a> to access OPTN's additional grades for Stability and Momentum.
What To Do Next?
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<hr />
ACAD shares were unchanged in premarket trading Thursday. Year-to-date, ACAD has declined -45.54%, versus a 6.38% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/acad-amrx-optn-buy-alert-3-pharma-stocks-under-20-to-invest-in/>Buy Alert: 3 Pharma Stocks Under $20 to Invest in Now</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Buy Alert: 3 Pharma Stocks Under $20 to Invest in Now

ACAD

AMRX

ATNM

LGVN

Press Releases

Optinose Reports Third Quarter 2023 Financial Results  and Operational Updates

Optinose to Present at the 35th Annual Piper Sandler Healthcare Conference

Health Care

General

Optinose Announces 3-Month Extension of FDA Review Period for the Supplemental New Drug Application for XHANCE

Optinose Announces the Publication of ReOpen Phase 3 Clinical Trial Program Evaluating XHANCE in the Journal of Allergy and Clinical Immunology: In Practice

Optinose Announces Reporting Date for Fourth Quarter 2023 Financial Results

Optinose Reports Fourth Quarter and Full Year 2023 Financial Results and Recent Operational Highlights

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OptiNose Stock (NASDAQ:OPTN), Short Interest Report

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