Simplify Interest Rate Hedge ETF (ARCA: PFIX)

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Simplify Interest Rate Hedge ETF

The adviser seeks to achieve the Funds investment objective by investing in U.S. Treasuries or U.S. Treasury Inflation-Protected Securities (TIPS), exchange traded funds that primarily invest in U.S. Treasuries, TIPS and investment grade bonds, and swaptions and interest rate options.

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We performed a screening of small-cap ETFs, defined as having Assets Under Management (AUM) below $400 million - to determine what funds had the largest positive and negative returns on the week, according to data from etfdb.com. Only non-leveraged funds were considered.

A NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) executive has reportedly requested that Li Auto Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) cease its practice of publishing weekly sales rankings, arguing that it constitutes a trivial competition <a target="_blank" href="https://www.benzinga.com/news/24/07/40002868/electric-vehicles-are-bleeding-insurers-money-in-this-key-market-for-tesla-and-other-auto-giants-her" rel="noreferrer noopener">that disrupts the operations of other companies.</a>
In a Weibo post, NIO&#8217;s assistant vice president of branding and communications, Ma Lin, stated that the Chinese government has urged industries to avoid engaging in low-level &#8220;involution,&#8221; <a target="_blank" href="https://cnevpost.com/2024/07/30/nio-exec-asks-li-auto-to-stop-sharing-weekly-sales-figures/" rel="noreferrer noopener">reported </a>CnEV Post.
&#8220;Involution&#8221; is a term that has gained popularity in China in recent years, commonly referring to intense competition among stakeholders that ultimately benefits no one.
Ma Lin stated that publishing weekly sales rankings is essentially equivalent to low-level involution, the report noted.
Also Read: <a target="_blank" href="https://benzinga.com/news/24/07/40031872/tesla-recalls-over-1-8m-vehicles-over-concerns-of-unlatched-hood-opening-when-driving" rel="noreferrer noopener">Tesla Recalls Over 1.8M Vehicles Over Concerns Of Unlatched Hood Opening When Driving</a>
He urged Li Xiang, the founder, chairman, and CEO of Li Auto, to instruct his team to cease this practice.
Ma Lin noted that while automakers release audited delivery figures each month, reflecting the business situation at that time, weekly rankings can disrupt normal business operations.
In his Weibo post, Lin included four images: one was a screenshot of a media report showing China&#8217;s Politburo urging industries to enhance self-discipline and avoid &#8220;involutional&#8221; competition, while the other three images related to NIO&#8217;s July 27 Nio IN event, where advancements in the Shenji NX9031 chip and SkyOS were announced.
Since late March 2023, Li Auto has been publishing weekly sales rankings every Tuesday, covering the weekly sales of major new car makers, luxury brands, and prominent new energy vehicle (NEV) manufacturers.
These weekly sales figures, which are based on insurance registrations rather than orders or deliveries, are considered by many investors as a key indicator for tracking carmakers&#8217; monthly deliveries.
Li Auto ceased publishing these figures in early May last year, attributing the decision to complaints from some industry peers.
However, Li Auto resumed sharing the numbers on May 23, 2023, aiming to demonstrate its leading position among China&#8217;s EV startups.
By showcasing its strong weekly sales, Li Auto appears to be trying to solidify its leadership status in the public eye, potentially driving growth in orders. Yet, this practice has generated some dissatisfaction among its competitors, CnEV Post added.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/partner/forex/24/07/39905086/axi-invites-traders-to-dip-their-toes-into-its-capital-allocation-offering-with-free-and-early-acce" target="_blank" rel="noreferrer noopener">Tesla Replaces Ford As Morgan Stanley&#8217;s &#8216;Top Pick&#8217; As Brokerage Sees Potential In EV Giant&#8217;s Energy And Service Segments</a></li>
</ul>

Equities

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General

NIO Executive Urges Rival Li Auto To Halt Weekly Sales Rankings: Read Why

Piper Sandler analyst Nathan Race maintains Midland States Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSBI#NASDAQ">MSBI</a>) with a Neutral and raises the price target from $24.5 to $27.

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Analyst Ratings

MSBI

Piper Sandler Maintains Neutral on Midland States Bancorp, Raises Price Target to $27

In an exclusive interview with Benzinga, Moe Vela, senior advisor to Unicoin and former senior advisor to President Joe Biden, recently shared his understanding of the interplay between political events and cryptocurrency markets. 
Vela, who has extensive experience in the White House under both the Clinton and Obama administrations, addressed the recent fluctuations in Bitcoin prices following Biden&#8217;s <a href="https://www.benzinga.com/general/politics/24/07/39874123/trump-goes-in-full-attack-mode-after-biden-drops-out-of-race-says-president-is-certainly-not-fit">withdrawal from the presidential race</a>.
<h3 class="wp-block-heading">Democrats And Crypto: A Call For Strategic Alignment</h3>
He advised against over-interpreting these market reactions, characterizing them as standard responses to breaking news rather than indicators of deeper political implications.
&#8220;I would not read too much into any price fluctuation point when President Biden withdrew from the race; reading too much into that would be naive and misleading,&#8221; Vela stated, emphasizing the tendency of markets to react temporarily to significant news events.
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/29222411/905735A6-57D3-4874-9AA1-75D037842DB3-1-19.gif" alt="" class="wp-image-463613" style="width:419px;height:auto" /></a></figure>
Vela highlighted the need for the Democratic Party under Kamala Harris to refine <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40028210/kamala-harris-participation-in-upcoming-major-crypto-conference-sought-by-democratic-donor">its approach to cryptocurrency</a>. With millions of crypto enthusiasts in the U.S., Vela urged the Harris campaign to communicate its stance on digital assets clearly. He noted that this demographic could be key in the upcoming election, suggesting that Democratic engagement with the crypto community could slightly influence the election&#8217;s outcome.
&#8220;I have been encouraging the Democratic Party and the now Harris campaign to be more vocal and articulate on her vision for the future of cryptocurrency,&#8221; Vela said. &#8220;It is here to stay. It is an integral part of our economy and is now essential to our banking systems.&#8221;
<h3 class="wp-block-heading">The Resilience Of Bitcoin And Political Perception</h3>
Bitcoin&#8217;s recovery and stability following the crypto winter have been noteworthy. However, Vela pointed out that Bitcoin no longer solely represents the cryptocurrency market. With the rise of other digital assets, including stablecoins, he urged the crypto community to focus on broader market trends rather than Bitcoin alone.
&#8220;Bitcoin still has the majority of the market share, but the market share has been declining,&#8221; Vela noted. &#8220;Many other cryptocurrencies are proliferating, bringing a little bit more confidence and familiarity to many people.&#8221;
<h3 class="wp-block-heading">A Unified Voice For Crypto Regulation</h3>
Vela called for the cryptocurrency industry to unify under a single trade association, similar to those in other sectors. He argued that a cohesive voice would influence policy and regulatory frameworks more effectively.
&#8220;What we are missing right now is a unified trade association that represents and speaks with one voice,&#8221; Vela stated. &#8220;We need to come together under one umbrella with one voice and a clear, concise list of what we need as a sector to grow.&#8221;
Vela proposed a &#8220;three-legged stool&#8221; approach to regulation: promoting industry growth, protecting consumers and investors, and eliminating fraudulent actors. &#8220;Regulation is good for us if it is done correctly,&#8221; he asserted. &#8220;We need a regulatory environment that is supportive, protective, and prevents nefarious behavior.&#8221;
<h3 class="wp-block-heading">Where To Learn More</h3>
As the digital asset landscape evolves, events like <a href="https://www.benzinga.com/events/digital-assets/">Benzinga&#8217;s Future of Digital Assets</a> on November 19 in NYC offer invaluable opportunities for industry leaders and investors to converge. 
This one-day event will facilitate extensive networking, with executive roundtables and one-on-one meetings designed to foster meaningful connections and collaborations. Attendees can expect to engage with key figures and explore the future of alternative asset classes in an environment conducive to deal-making and strategic discussions.
Now Read: 
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<li><a href="https://www.benzinga.com/news/24/07/40032013/as-kamala-harris-gains-momentum-against-trump-not-every-democratic-lawmaker-is-by-her-side-yet">As Kamala Harris Gains Momentum Against Trump, Not Every Democratic Lawmaker Is By Her Side Yet</a></li>
</ul>
Image: Shutterstock

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

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Politics

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Exclusives

EXCLUSIVE: Former White House Exec Discusses What's Next For Bitcoin, Dems After Biden Bows Out

RBC Capital analyst Kenneth Lee maintains Ameriprise Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>) with a Outperform and raises the price target from $487 to $500.

RBC Capital Maintains Outperform on Ameriprise Finl, Raises Price Target to $500

In a bid to rebalance trade ties, Italian Prime Minister Giorgia Meloni has embarked on a visit to China.
What Happened: During her inaugural visit as Prime Minister, Meloni stressed the need for a more equitable trade relationship, Reuters reported on Tuesday. She noted that Italy&#8217;s investment in China is thrice the amount of China&#8217;s investment in Italy. She also voiced Italy&#8217;s ambition to eradicate hurdles for its products in the Chinese market.
Meloni&#8217;s trip carries strategic significance as Italy has previously aligned with Beijing and could potentially act as a balancing voice within the European Union. The EU is contemplating imposing additional tariffs on Chinese electric vehicles, a move Italy has hinted it might support.
Despite withdrawing from China&#8217;s Belt and Road infrastructure investment scheme under U.S. pressure last year, Italy continues to express its interest in fostering trade ties with the world&#8217;s second-largest economy.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39821315/ai-earthquake-semiconductors-suffer-worst-selloff-in-years-on-stricter-us-chip-expo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Earthquake: Semiconductors Suffer Worst Selloff In Years On Stricter US Chip Exports To China</a>
During her meeting with Chinese President Xi Jinping, Meloni did not specifically discuss the prospect of Chinese automakers opening factories in Italy. However, she did mention that &#8220;the issue of electric mobility is one of the topics included in our memorandum of industrial cooperation.&#8221;
She also underscored Italy&#8217;s significant role in China&#8217;s relations with the EU and expressed hope for trade relations that are &#8220;as balanced as possible.&#8221;
Why It Matters: Despite China&#8217;s increasing aggression in the South China Sea region, its significance in the global economy is undeniable, as it accounts for <a href="https://www.benzinga.com/markets/asia/24/05/38980045/you-cant-ignore-says-jpmorgan-apac-ceo-highlighting-beijings-significance-in-global-economy-you-have">19% of the global GDP </a>and 48% of Asia's GDP. This was emphasized by Sjoerd Leenart, JPMorgan Asia Pacific CEO, during the 20th annual Global China Summit in Shanghai in May.
China has been a central topic in global discussions, including the <a href="https://www.benzinga.com/news/24/06/39329281/g7-summit-wraps-up-china-takes-center-stage-pope-francis-makes-historic-visit">G7 summit in Italy</a> in June, where concerns about China&#8217;s excessive industrial capacity and support for Russia&#8217;s war efforts were raised. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/40000541/apples-market-share-drops-in-china-a18-chip-integration-to-bring-ai-features-to-iphone-16-and-more-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Market Share Drops In China, A18 Chip Integration To Bring AI Features To iPhone 16 And More: This Week In Appleverse</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Global

Giorgia Meloni Meets Xi Jinping As Italian PM Seeks 'As Balanced As Possible' Trade Relations With China

RBC Capital analyst Michael Carroll maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Sector Perform and raises the price target from $172 to $186.

RBC Capital Maintains Sector Perform on EastGroup Props, Raises Price Target to $186

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PARA

Paramount Global And Nexstar Media Renew Affiliation Agreements; Terms Not Disclosed

Piper Sandler analyst Jason Bednar maintains Envista Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVST#NYSE">NVST</a>) with a Neutral and lowers the price target from $18 to $16.

NVST

Piper Sandler Maintains Neutral on Envista Holdings, Lowers Price Target to $16

Guidance

Archer-Daniels-Midlands Expects Lower Q3 Operating Profit For AG Services And Oilseeds Segment From Last Year

Regardless of your position on the political spectrum, it&#8217;s no secret that Congress, as a whole, has the assets and investment opportunities to grow long-term wealth. Now, you have the chance to copy Congress.&nbsp;
Don't Miss:
<ul>
<li>If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?</li>
<li>Don&#8217;t miss the real AI boom &#8211;<a href="https://www.benzinga.com/money/fundrise-innovation-fund"> here&#8217;s how to use just $10 to invest in high growth private tech companies.</a></li>
</ul>
There are two new <a href="https://www.benzinga.com/etfs">exchange-traded funds (ETFs)</a> that mimic the trading patterns of the U.S. Congress members. You can invest in:
<ul>
<li>The Unusual Whales Subversive Democratic Trading ETF, ticker NANC, is an ETF based on Democratic lawmakers&#8217; trades, named after Nancy Pelosi.</li>
<li>The Unusual Whales Subversive Republican Trading ETF, ticker KRUZ, is based on Republican lawmakers&#8217; trades and is named after Ted Cruz. </li>
</ul>
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
The Nancy Pelosi ETF (NANC) was established on Feb. 10, 2023. It has an all-time return of 44.43%, or an increase of $10.97 since its initial offering of $24.69. While the NANC fund has had a good showing, what if you had invested $20 a week in Nancy Pelosi's portfolio for the past five years? You'd have invested $5,220 over five years and have $8,326 today, a 1.6X return. Over the same period, the SPY ETF had a lower return; you&#8217;d have $8,130 today.
Also established on Feb. 10, 2023, the KRUZ ETF is up 21.74%, to $30.39 per share, from $24.96 at its inception. If you had invested $1,000 on Feb. 10, 2023, you&#8217;d have $1,217.40 today.&nbsp;
 What&#8217;s the difference between the positions in the two funds?&nbsp;
<ul>
<li>KRUZ ETF has a higher percentage in oil and gas (11%).</li>
<li>NANC ETF has a higher percentage in software (17.5%).</li>
</ul>
See Also: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
On NPR&#8217;s show The Indicator from Planet Money, hosts Darian Woods and Wailin Wong decided to try it out. As an experiment, the hosts invested $77.35 in these ETFs and flipped a coin to decide who invested in which fund.
As of July 28, 2024:
<ul>
<li>Democratic-based trades (NANC) are up 18.20% year-to-date</li>
<li>Republican-based trades (KRUZ) are up 10.42% year-to-date</li>
</ul>
If the hosts <a href="https://www.benzinga.com/insights/news/24/07/39995679/if-you-invested-1000-in-this-stock-5-years-ago-you-would-have-2-000-today">had invested</a> from Jan. 1, the NANC investor would have made $14.07, and the KRUZ investor would have made $8.05—hardly life-changing numbers.&nbsp;
Before you buy, consider the ethics of politicians trading stocks. Some advocates are calling for a ban on congressional stock trading. In fact, a proposed bill called the ETHICS Act aims to address this issue. However, a study has shown that congresspeople&#8217;s trades don&#8217;t systematically outperform the market. In fact, almost absurdly, experiments with reindeer picking stocks outperformed congresspeople&#8217;s trades, highlighting the inherent risks of any investment.&nbsp;
Should you invest in either of these funds? Individual investors could benefit from the <a href="https://www.benzinga.com/money/what-is-a-broad-based-index-fund">broad diversification</a> of both funds. However, investing in either fund doesn&#8217;t directly support either political party, and investors don&#8217;t need to pick funds based on political affiliations to reap the financial rewards.&nbsp;
Read Next:
<ul>
<li>Don&#8217;t miss out on the next Nvidia &#8211;<a href="https://www.benzinga.com/money/fundrise-innovation-fund"> you can invest in the future of AI for only $10.</a></li>
<li>Finally allowing commercial real estate investing to be more accessible —<a href="https://www.benzinga.com/money/equitymultiple-ascent-fund"> This fund aims to triple your money in 10 years is with a surprisingly low minimum.</a></li>
</ul>

Copying Congress: The Bizarre World of Political Stock-Picking Funds

American Electric Power Company, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) reported the&nbsp;second quarter&nbsp;2024 revenue of&nbsp;$4.60 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n40032882/aep-reports-second-quarter-2024-earnings-reaffirms-guidance" rel="noreferrer noopener">missing the consensus of&nbsp;$4.74 billion</a>.
Commercial load increased by 12.4% Y/Y, driven by over a 20% gain at its Transmission &amp; Distribution companies, with new data processing facilities coming online.
Total energy distribution rose&nbsp;2.0%&nbsp;Y/Y in the Vertically Integrated Utilities segment and&nbsp;12.0%&nbsp;in the Transmission &amp; Distribution Utilities segment.&nbsp;
Adjusted operating earnings rose to&nbsp;$662.0 million&nbsp;from&nbsp;$582.2 million&nbsp;a year ago.&nbsp;
Adjusted operating earnings from Vertically Integrated Utilities fell to&nbsp;$244.8 million&nbsp;from&nbsp;$260.4 million&nbsp;the prior year, and AEP Transmission Holdco grew to&nbsp;$208.9 million&nbsp;from&nbsp;$196.5 million in the prior&nbsp;year&#8217;s quarter.
Adjusted EPS&nbsp;of&nbsp;$1.25<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> beat the consensus of&nbsp;$1.23</a>.
In the quarter, the company launched a voluntary workforce reduction program involving around 1,000 employees and expects to see the program&#8217;s benefits in the latter half of the year.
FY24&nbsp;Outlook: American Electric Power reiterated adjusted operating earnings per share&nbsp;guidance at&nbsp;$5.53-$5.73<a target="_blank" href="https://www.benzinga.com//node/38531253" rel="noreferrer noopener"> vs.&nbsp;consensus of&nbsp;$5.62</a>.
The company also maintained a long-term growth rate <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">outlook of 6% to 7%</a>.
In June, American Electric appointed William J. &#8220;Bill&#8221; Fehrman as president and CEO,<a target="_blank" href="https://www.benzinga.com//node/39513754" rel="noreferrer noopener"> effective August 1, 2024</a>.
Ben Fowke, interim chief executive officer and president, said, &#8220;To help meet the growing energy needs of our customers and communities, we&#8217;re making steady progress transforming our generation fleet with active requests for proposals and plans to add more than 20 gigawatts of new resources over the next decade.&#8221;
&#8220;In June, Public Service Company of&nbsp;Oklahoma&nbsp;announced it will seek regulatory approval of an agreement to purchase Green Country, a 795-megawatt natural gas generation facility that will serve as a reliable and affordable local energy resource for customers.&#8221;
Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund &#8211; Utilities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and&nbsp;Opal Dividend Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIVZ#NYSE">DIVZ</a>).
Price Action: AEP shares are down 0.18% at $96.90 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Earnings

Large Cap

DIVZ

American Electric Power's Q2 Highlights: Mixed Results, Job Cuts, Maintains Guidance

<a href="https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/amazoncom-inc-679523-07252024" title="https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/amazoncom-inc-679523-07252024">https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/amazoncom-inc-679523-07252024</a>

AMZN

FDA Issues Warning To Amazon Over Distribution Of Unapproved Chemical Peel Products; Violations Include Introduction Of Unapproved New Drugs And Public Health Risks

McDonald's Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) posted worse-than-expected second-quarter <a href="https://www.benzinga.com/news/earnings/24/07/40008869/mcdonalds-q2-earnings-consumer-spending-shifts-hit-revenue-and-operating-margins-franchise-revenue-">financial results on Monday</a>.
McDonald's reported a second-quarter FY24 sales decline of 0.12% year-on-year to $6.490 billion, missing the analyst consensus of $6.608 billion. Adjusted EPS of $2.97 missed the analyst consensus estimate of $3.07, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Global comparable sales decreased 1.0%, while U.S. comparable sales slipped 0.7%.
&#8220;We are confident that Accelerating the Arches is the right playbook for our business and as consumers are more discriminating with their spend, we are focused on the outstanding execution of delivering reliable, everyday value and accelerating strategic growth drivers like chicken and loyalty,&#8221; said CEO Chris Kempczinski.
McDonald&#8217;s expects net restaurant unit expansion to contribute nearly 2% to 2024 Systemwide sales growth in constant currencies. It anticipates that the full-year 2024 Selling, general and administrative expenses will be about 2.2% of Systemwide sales, and the 2024 operating margin will be in the mid-to-high 40% range.
McDonald&#8217;s shares gained 3.7% to close at $261.42 on Monday.
These analysts made changes to their price targets on McDonald&#8217;s following the announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/587e33185064ed0001730304/john-ivankoe">JP Morgan analyst John Ivankoe</a> maintained McDonald&#8217;s with an Overweight rating and lowered the price target from $290 to $270.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/584fea22ee7bf600019078d3/andrew-strelzik">BMO Capital analyst Andrew Strelzik</a> maintained the stock with an Outperform rating and slashed the price target from $330 to $315.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/609d102135245a00019e3fe4/jeffrey-bernstein">Barclays analyst Jeffrey Bernstein</a> maintained McDonald&#8217;s with an Overweight and lowered the price target from $320 to $300.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/589dc33d43eaaa000122c591/jake-bartlett">Truist Securities analyst Jake Bartlett</a> maintained the stock with a Buy and slashed the price target from $300 to $295.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40029782/us-stocks-close-mixed-ahead-of-big-earnings-fed-decision-investor-optimism-improves-further">US Stocks Close Mixed Ahead Of Big Earnings, Fed Decision: Investor Optimism Improves Further</a></li>
</ul>

McDonald's Analysts Cut Their Forecasts After Downbeat Earnings

Investment bank Jefferies termed the recent Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Conference, where former President Donald Trump pledged to &#8220;<a href="https://www.msn.com/en-us/money/other/trump-s-bitcoin-conference-pledge-can-he-really-fire-sec-chair-gensler/ar-BB1qQ6tz">fire Gary Gensler</a>,&#8221; a turning point in the industry&#8217;s relationship with Washington.
What Happened: &#8220;His overtures to the industry to install crypto-friendly regulators may have the effect of near-term BTC price being tied to the outcome of the U.S. presidential election,&#8221; said Jefferies analysts Jonathan Petersen and Joe Dickstein.
Trump&#8217;s promises to maintain a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39866338/bitcoin-as-a-strategic-reserve-asset-for-the-us-expert-details-how-trump-could-make-it-hap">strategic Bitcoin reserve</a>, appoint pro-crypto regulators and establish a presidential advisory council for the industry have sent shockwaves through the market.
While this newfound political support is a recent development, its impact on Bitcoin&#8217;s price could be significant, especially as the US heads towards a presidential election.
On the <a href="https://www.benzinga.com/money/how-to-mine-bitcoin">mining front</a>, the post-halving landscape is shaping up differently than initially anticipated, <a href="https://www.coindesk.com/markets/2024/07/30/bitcoins-future-could-be-tied-to-the-outcome-of-the-us-election-jefferies/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines">according</a> to Jefferies.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40033967/bitcoin-drops-below-67-000-what-is-going-on-with-bitcoin-ethereum-etfs">Bitcoin Drops Below $67,000: What Is Going On With Bitcoin, Ethereum ETFs?</a>
Bitcoin&#8217;s price has increased by around 5% since the <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">halving</a> in April, while the network&#8217;s hashrate has declined by 8% over May and June.
This has led to improved profitability for miners, although revenue per unit of computing power (exahash) is still down by 40-45%.
Despite these challenges, major mining companies are continuing to invest in expanding their operations. However, the industry is also undergoing a consolidation phase. 
Recent deals, such as CleanSpark&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) acquisition of GRIID and Riot Platforms&#8216; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) bid for Bitfarm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BITF#NASDAQ">BITF</a>), which was rejected, highlight the growing importance of access to cheap energy in the mining sector.
&#8220;Access to power is far more valuable than the mining fleets,&#8221; Jefferies noted.
What&#8217;s Next: The upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19 will provide a platform to delve deeper into these trends and discuss their implications for the future of the cryptocurrency market.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40020140/four-arrested-in-kyiv-for-brutal-bitcoin-related-kidnapping-and-murder">Four Arrested In Kyiv For Brutal Bitcoin-Related Kidnapping And Murder</a></li>
</ul>
Image: Shutterstock

$BTC

BITF

CLSK

RIOT

Donald Trump's Overtures Mean The Bitcoin Price May Be Tied To The Outcome Of 2024 Election: Jefferies

<ul>
<li>NVDA</li>
<li>TSLA</li>
<li>PYPL</li>
<li>WAY</li>
<li>AMD</li>
<li>MSFT</li>
<li>CRWD</li>
<li>MADE</li>
<li>AI</li>
<li>SOFI</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

Trading Ideas

CRWD

MADE

NVDA

PYPL

SOFI

TSLA

Top 10 Trending Stocks On WallStreetBets As Of July 30 2024 (Via Swaggy Stocks)

Varonis Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>) reported better-than-expected second-quarter financial results and <a href="https://www.benzinga.com/quote/VRNS/earnings">raised its FY24 guidance on Monday.</a>
Varonis Systems reported quarterly earnings of 5 cents per share which beat the analyst consensus estimate for a loss of 2 cents per share. The company reported quarterly sales of $130.346 million which beat the analyst consensus estimate of $124.842 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Varonis raised its FY24 revenue guidance from $536 million &#8211; $546 million to $544 million &#8211; $552 million. The company boosted adjusted earnings outlook from 13 cents-16 cents per share to 22 cents-24 cents per share.
Varonis Systems shares gained 0.1% to close at $48.49 on Monday.
These analysts made changes to their price targets on Varonis Systems following the announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/634fc93b2048c3000154adda/shrenik-kothari">Baird analyst Shrenik Kothari</a> upgraded Varonis from Neutral to Outperform and raised the price target from $52 to $60.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/590783e6290fa70001409b4a/rob-owens">Piper Sandler analyst Rob Owens</a> maintained the stock with a Neutral and raised the price target from $45 to $48.</li>
<li><a href="https://www.benzinga.com/topic/shyam-patil">Susquehanna analyst Shyam Patil</a> maintained Varonis with a Positive rating, while raising the price target from $55 to $65.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586f8e4a72b34c0001c9b134/saket-kalia">Barclays analyst Saket Kalia</a> maintained Varonis with an Overweight and boosted the price target from $55 to $60.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/57fdefd3ac6af40001334e3e/joel-fishbein">Truist Securities analyst Joel Fishbein</a> reiterated Varonis with a Buy and raised the price target from $55 to $60.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58a3019243eaaa00011f4050/andrew-nowinski">Wells Fargo analyst Andrew Nowinski</a> maintained the stock with an Equal-Weight and increased the price target from $45 to $48.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40029782/us-stocks-close-mixed-ahead-of-big-earnings-fed-decision-investor-optimism-improves-further">US Stocks Close Mixed Ahead Of Big Earnings, Fed Decision: Investor Optimism Improves Further</a></li>
</ul>

VRNS

These Analysts Raise Their Forecasts On Varonis Systems Folloiwng Upbeat Results

BMO Capital analyst Ketan Mamtora maintains West Fraser Timber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) with a Outperform and raises the price target from $92 to $105.

BMO Capital Maintains Outperform on West Fraser Timber, Raises Price Target to $105

Tilray Brands Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares are trading higher Tuesday after the company reported better-than-expected financial results <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40036301/tilray-should-be-a-long-term-holding-in-any-global-portfolio-of-cannabis-stocks-say">for the fourth quarter</a>.
<ul>
<li>Q4 Revenue: $229.882 million, versus <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $227.07 million</li>
</ul>
<ul>
<li>Q4 EPS: 4 cents, versus estimates for a loss of 2 cents</li>
</ul>
Total revenue was up approximately 25% on a year-over-year basis. Cannabis net revenue jumped&nbsp;12%&nbsp;to&nbsp;$71.9 million in the quarter, while beverage-alcohol net revenue increased&nbsp;137%&nbsp;to&nbsp;$76.7 million. Distribution net revenue fell to&nbsp;$65.6 million&nbsp;in the fourth quarter and Wellness net revenue increased&nbsp;6%&nbsp;to&nbsp;$15.7 million.
Gross profit came in at&nbsp;$82.4 million in the fourth quarter. Gross margin&nbsp;and adjusted gross margin was&nbsp;36%. Adjusted EBITDA increased 37% year-over-year to&nbsp;$29.5 million&nbsp;in the&nbsp;fourth quarter. Tilray noted that it reduced its net convertible debt by about $300 million in fiscal 2024.
"Tilray Brands is leading the convergence of cannabis, beverages, and wellness on a global scale," said&nbsp;Irwin Simon, chairman and CEO of Tilray Brands.
"In Fiscal 2024, the Company achieved remarkable growth across its businesses, with a&nbsp;26%&nbsp;increase in net revenue over the prior year, record-breaking performance in gross profit and adjusted EBITDA, and generated positive adjusted free cash flow for the fiscal year. We have also significantly reduced our net convertible debt by ~$300 million&nbsp;and surpassed our cost-savings synergy target, which has strengthened our balance sheet."
Following the print, Zuanic &amp; Associates senior analyst&nbsp;Pablo Zuanic maintained a <a href="https://www.benzinga.com/analyst-stock-ratings">Neutral rating</a> on Tilray shares, but noted that the stock&nbsp;should be a long-term holding in global cannabis portfolios.
Check This Out: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40036301/tilray-should-be-a-long-term-holding-in-any-global-portfolio-of-cannabis-stocks-say">&#8216;Tilray Should Be A Long-Term Holding In Any Global Portfolio Of Cannabis Stocks,&#8217; Says Analyst</a>
TLRY Price Action: <a href="https://www.benzinga.com/quote/TLRY" target="_blank" rel="noreferrer noopener">Tilray shares</a> were up 7.65% at $1.97 at the time of publication, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: iQoncept via Shutterstock.

Movers

TLRY

Tilray Stock Is Trading Higher Tuesday: Here's Why

BMO Capital analyst Jeremy Mccrea maintains Topaz Energy (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TPZ#TSX">TPZ</a>) with a Outperform and raises the price target from C$29 to C$30.

TSX:TPZ

BMO Capital Maintains Outperform on Topaz Energy, Raises Price Target to C$30

The elite group known as the Magnificent Seven faces a decisive market test as four mega-cap tech giants report their latest <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40006542/apple-amazon-microsoft-meta-lead-the-charge-as-investors-bank-on-tech-cheer-for-ral">quarterly earnings this week. </a>
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) will kick things off on Tuesday, reporting its fiscal fourth-quarter 2024 earnings after market close.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) will take the spotlight after the market closes on Wednesday, potentially making for a volatile day as traders assess interest rate moves following the Federal Reserve policy meeting and Fed Chair Jerome Powell&#8216;s press conference.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) will both report their fiscal second-quarter and third-quarter earnings, respectively, on Thursday, after market close.
Collectively, these four giants have a market valuation of nearly $10 trillion, highlighting the significant impact these earnings are expected to have on the markets.
Last week, the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) suffered its worst day since the fund&#8217;s inception, tumbling over 6% on Wednesday. On the same day, both the S&amp;P 500 and the Nasdaq 100 indices had their worst session since late 2022. Magnificent Seven also marked their third consecutive week of declines. 
Also Read: <a href="https://www.benzinga.com/news/earnings/24/07/40018739/apple-analyst-turns-focus-to-apple-intelligence-chinese-market-share-ahead-of-q3-earnings">Apple Analyst Turns Focus To &#8216;Apple Intelligence,&#8217; Chinese Market Share Ahead Of Q3 Earnings</a>
<h3 class="wp-block-heading">What Analysts Expect</h3>
&#8220;Much depends on investor sentiment,&#8221; said David Morrison, senior market analyst at Trade Nation.
According to Morrison, the key questions to address are whether the tech sector has pulled back enough for investors to buy again, regardless of earnings. Additionally, if there are further disappointments, will it trigger another wave of selling, and will funds then shift towards smaller-cap stocks?
&#8220;There's a lot to consider, and that's before factoring in monetary policy meetings from the Federal Reserve, Bank of Japan, and Bank of England, along with the U.S. Non-Farm Payrolls on Friday. This may prove to be a decisive week ahead of the summer's main holiday month,&#8221; he added.
<h3 class="wp-block-heading">Goldman Sachs Predicts Positive Amazon Performance Ahead of Earnings</h3>
Goldman Sachs equity analyst Eric Sheridan highlighted three key debates for investors ahead of Amazon&#8217;s earnings this week.
First, he pointed to the health of the consumer, with Amazon&#8217;s eCommerce business remaining strong in Q2 despite some weakness in the UK and Germany.
Second, Sheridan observed Amazon&#8217;s potential to boost operating income margins, with expected outperformance driven by higher retail margins, increased advertising contributions, and robust AWS profitability. 
Third, he addressed the growth trajectory of AWS revenue, anticipating a reacceleration in 2024 as optimization and workload migration challenges turn into tailwinds, alongside rising AI workloads.
Goldman Sachs raised Amazon&#8217;s 12-month price target from $225 to $250, reiterating a Buy rating.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Fiscal Quarter</th>
<th>EPS Estimate</th>
<th>Revenue Estimate</th>
</tr>
</thead>
<tbody>
<tr>
<td>Microsoft Corp.</td>
<td>Q4 2024</td>
<td>$2.93</td>
<td>$64.36B</td>
</tr>
<tr>
<td>Meta Platforms Inc.</td>
<td>Q2 2024</td>
<td>$4.72</td>
<td>$38.3B</td>
</tr>
<tr>
<td>Amazon.com Inc.</td>
<td>Q2 2024</td>
<td>$1.03</td>
<td>$148.6B</td>
</tr>
<tr>
<td>Apple Inc.</td>
<td>Q3 2024</td>
<td>$1.34</td>
<td>$84.4B</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39899280/microsoft-stock-has-further-room-to-run-says-analyst-as-software-giant-remains-on-t">Microsoft Stock Has Further Room To Run, Says Analyst, As Software Giant Remains On Track To Hit $200B Cloud Revenue In 2 Years</a></li>
</ul>
Photo: Shutterstock

Tech

MAGS

Magnificent 7 Face Pivotal Market Moment As 4 Mega Tech Giants Report Earnings This Week