Latest news for  (OTC:RHBTS) Stock

Clearwater Analytics Hldg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWAN#NYSE">CWAN</a>) reported quarterly earnings of $0.10 per share which met the analyst consensus estimate. This is a 25 percent increase over earnings of $0.08 per share from the same period last year. The company reported quarterly sales of $106.79 million which beat the analyst consensus estimate of $105.52 million by 1.20 percent. This is a 18.82 percent increase over sales of $89.88 million the same period last year.

Earnings

News

CWAN

On Wednesday July 31, 2024 Clearwater Analytics Hldg Reported Q2 Adj EPS $0.10, Inline, Sales $106.79M Beat $105.52M Estimate

Wells Fargo analyst Aaron Rakers maintains Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Underweight and raises the price target from $140 to $170.

Price Target

Analyst Ratings

QCOM

Wells Fargo Maintains Underweight on Qualcomm, Raises Price Target to $170

Stifel analyst David Grossman maintains Automatic Data Processing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) with a Hold and raises the price target from $271 to $287.

Stifel Maintains Hold on Automatic Data Processing, Raises Price Target to $287

Stifel analyst Craig Jones maintains Astrana Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTH#NASDAQ">ASTH</a>) with a Buy and raises the price target from $48 to $60.

ASTH

Stifel Maintains Buy on Astrana Health, Raises Price Target to $60

Innovative Eyewear Inc.&nbsp;(NASDAQ:<a href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) (NASDAQ:<a href="https://www.benzinga.com/stock/LUCYW#NASDAQ">LUCYW</a>)&nbsp;("Innovative Eyewear" or "the Company") the developer of smart eyewear under the Lucyd&#xAE;, Nautica&#xAE;, Eddie Bauer&#xAE; and Reebok&#xAE; brands, today announced that the Company received formal notice (the "Notice") from the Nasdaq Office of General Counsel of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule").

LUCY

Innovative Eyewear Regains Compliance With Nasdaq Listing Requirements

Wells Fargo analyst Joseph Quatrochi maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Equal-Weight and lowers the price target from $1100 to $1000.

LRCX

Wells Fargo Maintains Equal-Weight on Lam Research, Lowers Price Target to $1000

SAVE

Spirit Air Expects 67 Jets Parked For Engine Issues By End Of 2025

Stifel analyst Bradley Canino maintains ALX Oncology Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALXO#NASDAQ">ALXO</a>) with a Hold and lowers the price target from $14 to $5.

ALXO

Stifel Maintains Hold on ALX Oncology Holdings, Lowers Price Target to $5

IPOs

FDSB

Fifth District Opens At $10.75, IPO Priced At $10

Wells Fargo analyst Andrew Nowinski maintains Tenable Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENB#NASDAQ">TENB</a>) with a Overweight and raises the price target from $60 to $50.

TENB

Wells Fargo Maintains Overweight on Tenable Holdings, Raises Price Target to $50

RBC Capital analyst Nelson Ng reiterates Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) with a Sector Perform and maintains $55 price target.

Reiteration

MEOH

TSX:MX

RBC Capital Reiterates Sector Perform on Methanex, Maintains $55 Price Target

Stifel analyst Matthew Smith maintains Altria Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) with a Buy and raises the price target from $50 to $54.

Stifel Maintains Buy on Altria Group, Raises Price Target to $54

Stifel analyst Mathew Blackman maintains Alphatec Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATEC#NASDAQ">ATEC</a>) with a Buy and lowers the price target from $19 to $16.

ATEC

Stifel Maintains Buy on Alphatec Holdings, Lowers Price Target to $16

RBC Capital analyst Pammi Bir reiterates MORGUARD NA RES REAL ESTATE INV TR (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MRG#TSX">MRG</a>) with a Outperform and maintains C$19 price target.

TSX:MRG

RBC Capital Reiterates Outperform on MORGUARD NA RES REAL ESTATE INV TR, Maintains C$19 Price Target

On July 23rd, General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) reported its second quarter financials, surpassing both top and bottom line estimates along with recording record revenues, which was largely owed to North America&rsquo;s operations and more precisely, truck sales. Along with Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) and Stellantis N.V. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>), GM is facing uncertainty that came as result of slower than expected EV adoption, along with macroeconomic challenges.
<h3>Second Quarter Highlights</h3>
For the quarter ended on June 30th, General Motors posted record revenue grew&nbsp;7.2% YoY to&nbsp;$47.97 billion, suprassing LSEG&rsquo;s estimate of $45.46 billion. Adjusted earnings per share of $3.06 also easily surpassed LSEG&rsquo;s consensus estimate of $2.75&nbsp;per share. Net income attributable to stockholders, which excludes some dividend payouts, grew 14.3% YoY to $2.93 billion. Adjusted EBIT rose&nbsp;&nbsp;37.2% YoY to $4.44 billion.&nbsp;
While GM outperformed in several areas, it did not succeed to return to profitability in China where it continues to struggle with an earnings decline.
EV deliveries grew 40% YoY to 21,930 units, but EVs still make a fraction of U.S. sales, more precisely 3.2%.
Lifted 2024 guidance to reflect a positive business trajectory.
Costs are expected to increase during the second half of the year, as they will include an additional $400 million in planned marketing spend compared to the first half of the year to promote new launches.&nbsp;But after easily beating Wall Street estimates, GM&nbsp;raised several key financial targets for the full year, revising its&nbsp;full-year earnings guidance upwards for the second time this year.&nbsp;&nbsp;GM expects&nbsp;net income attributable to stockholders between $10.0 billion and $11.4 billion, with adjusted EBIT between $13.0 billion and $15.0 billion.&nbsp;GM now expects earnings per share between $8.93 and $9.93 on a diluted basis and between $9.50 and $10.50 on an adjusted diluted basis.
CFO Paul Jacobson reconfirmed that EV profitability on a prodiction or contribution margin basis is expected by the fourth quarter, when 200,000 units are reached.&nbsp;Until that happens, EVs will remain an earnings headwind.
The second half of 2024 seems daunting, but exciting.
Last week, Ford missed earnings expectations with its second quarter results. In addition,&nbsp;Ford guided adjusted earnings for the second half of the year to be between $2 billion and $3 billion, which is significantly down from first half&rsquo;s $5.5 billion. However, Ford did reconfirm its 2024 guidance.
Athough the&nbsp;EV revolution&nbsp;seems to have&nbsp;come to a halt, innovation hasn&rsquo;t.
GM, Ford and Stellantis pickups are getting a solar-powered tonneau cover this summer.&nbsp;Worksport Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>)&nbsp;just announced its first-to-market solar-powered tonneau cover SOLIS entered the final live-testing phase, ahead of its alpha release. The alpha release of the power duo that consists of the SOLIS as well as the portable battery system COR has been scheduled for later this summer.&nbsp;
This week, Worksport also announced it will be launching a&nbsp;new live sales feature.&nbsp;With&nbsp;Firework&rsquo;s innovative web infrastructure that is trusted by more than 1,000 global brands, Worksport will be launching its first live sales session on August 6th at 12 PM ET.&nbsp;&nbsp;With&nbsp;Firework averaging an astonishing&nbsp;15% rise in average order value and&nbsp;54% in sales conversions&nbsp;with other customer brands, Worksport has high expectations with its&nbsp;new cutting edge live sales platform with which it will undoubtedly enhance the experience of its growing audience that exceeds 15,000 weekly website visitors.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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Markets

Tech

General

STLA

WKSP

GM's Impressive Streak Overshadowed By EV Transition Challenges

Wells Fargo analyst Ken Gawrelski maintains eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Equal-Weight and lowers the price target from $57 to $55.

EBAY

Wells Fargo Maintains Equal-Weight on eBay, Lowers Price Target to $55

RBC Capital analyst Douglas Miehm reiterates Bausch &amp; Lomb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) with a Outperform and maintains $20 price target.

BLCO

TSX:BLCO

RBC Capital Reiterates Outperform on Bausch & Lomb, Maintains $20 Price Target

Wells Fargo analyst Andrew Bauch maintains AvidXchange Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVDX#NASDAQ">AVDX</a>) with a Equal-Weight and lowers the price target from $13 to $10.

AVDX

Wells Fargo Maintains Equal-Weight on AvidXchange Holdings, Lowers Price Target to $10

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust</h3>
SPY&nbsp;(ARCA: SPY) is currently trading around 552.50. For the bulls, we are aiming for a move to 553.66. If the price action stays strong above 553.66, the next target is 555.11. Should 555.11 hold during regular trading hours, a further push to 556.27 is expected. The high bull target for SPY today is 557.44.
If 552.50 fails to hold as support, we anticipate the bears testing 551.33. Should sellers remain active, the next level to watch is 550.45. If this level breaks down on heavy selling, we have strong support at 549.67. If today&#39;s session is dominated by selling, our low bear target is 549.00.
<h3>Invesco QQQ Trust Series 1</h3>
QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is currently trading around 474.66. For the bulls, we want to see buyers sustain above 474.66. If this level holds as support, the next target is 476.85. Continued buying pressure could push the price to 479.03. If the auction remains strong, we expect a test of 481.73. Our high bull target for QQQ today is 483.95.
If 474.66 struggles to hold during regular trading hours, we look for the bears to take control and push the price down to 471.33. Continued selling pressure could test 469.27. If sellers persist, the next level is 467.60. If this level fails to hold, our low bear target for QQQ today is 465.93.
<h3>Apple Inc.</h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is trading around 223.87. For the bulls, we are looking for 223.87 to hold as support. If this level is maintained, the next target is 225.31. Continued bullish momentum could push the price to 226.08. If the bulls reclaim control, we expect a move to our high bull target at 226.90.
If 223.87 does not hold as support, we look for a test of 222.96. Continued selling could bring the price down to 222.24. Persistent selling pressure might push the price to 221.66. If this level is broken, our low bear target for Apple is 220.97.
<h3>Microsoft Corp.</h3>
Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is trading around 419.17. For the bulls, we need to see the auction hold above 419.17 and rally to 420.26. If this level holds as support, we expect a move to 421.62. Continued buying could push the price to our high bull target at 422.84.
If 419.17 does not hold as support, we look for the bears to test 417.25. Should this level break, the next target is 416.32. Continued downside pressure could push the price to 414.56. Our low bear target for Microsoft is 413.14.
<h3>NVIDIA Corporation</h3>
NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is trading around 120.27. For the bulls, we want to see the price push up to 121.97 and hold this level as support. If successful, the next target is 123.41. Continued buying could drive the price to 125.21. The high bull target for NVIDIA is 126.84.
If 120.27 does not hold as support, we look for the bears to test 119.44. Should this level break, the next target is 117.86. If the auction remains weak, we expect a test of 116.61. On continued selling pressure, our low bear target for NVIDIA is 115.83.
<h3>Alphabet Inc Class A </h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is trading around 171.14. For the bulls, we want to see 171.14 hold as support and the price move up to 172.28. Continued bullish momentum could push the auction to 174.01, our high bull target.
If 171.14 fails to hold as support, we look for the bears to push the price down to 169.34. If this level breaks, the next target is 167.04. On heavy selling, we expect the price to drop to our low bear target for Alphabet at 165.41.
<h3>Meta Platforms Inc</h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is trading around 508.25. For the bulls, we need the auction to stay above 508.25 and push higher to 512.85. A strong buy-side auction could drive the price to 515.39. Continued bullish momentum could take the price to our high bull target of 520.27.
If 508.25 does not hold as support, we look for the bears to push the price down to 504.54. Continued selling pressure might see the price drop to 500.83. If this level breaks, our low bear target for Meta is 498.03.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading around 230.65. For the bulls, we want to see the price move up to 233.49. Continued buying could drive the price to 235.74. If the broader market rallies, we might see Tesla testing higher at 238.50. If buyers dominate, the high bull target for Tesla is 239.92.
If 230.65 fails to hold as support, we expect a test of 228.45. Continued selling could bring the price down to 226.53. If this level breaks, our low bear target for Tesla is 223.98.
Final Word: Today&#39;s session starts off with the Initial and Continuing Jobless Claims due out at 8:30 AM ET. These reports will provide insights into the labor market, offering clues about employment trends and economic health. At 10 AM ET, we will get the ISM Manufacturing, Prices Paid, New Orders, and Employment numbers for July. These indicators are critical in gauging the manufacturing sector&#39;s health and overall economic activity, as well as inflationary pressures within the economy.
Market participants today will be digesting yesterday&#39;s FOMC rate decision, which was to keep rates on hold. The focus will be on interpreting the Fed&#39;s statements and assessing future monetary policy directions. Additionally, the data releases today will be crucial in shaping market sentiment and expectations.
Market participants are also preparing for the earnings reports from tech giants Apple and Amazon, set to be released after the bell. These earnings announcements are highly anticipated and can significantly influence market movements. The performance of these companies often sets the tone for the broader market, particularly in the tech sector.
Given the confluence of significant economic data releases and major earnings reports, today&#39;s trading session is expected to be highly volatile. Traders should be prepared for rapid price movements and adjust their strategies accordingly. It is essential to stay vigilant, manage risks carefully, and be ready to act on any market-moving information. Good luck, keep your head on a swivel, and trade safely!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Trading Ideas

AAPL

GOOGL

MSFT

NVDA

TSLA

Market Clubhouse Morning Memo - August 1st, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining around 1% on Thursday.
The Dow traded up 0.03% to 40,853.73 while the NASDAQ rose 0.96% to 17,768.43. The S&amp;P 500 also rose, gaining, 0.62% to 5,556.62.
Leading and Lagging Sectors Communication services shares jumped by 3.4% on Friday.
In trading on Friday, energy shares fell by 0.8%.
Top Headline Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) reported better-than-expected second-quarter financial results and issued strong third-quarter guidance.
Meta reported second-quarter revenue of $39.07 billion, beating analyst estimates of $38.31 billion. The company reported second-quarter adjusted earnings of $5.16 per share, beating analyst estimates of $4.73 per share.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>RedHill Biopharma Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDHL#NASDAQ">RDHL</a>) shares shot up 69% to $0.6499 after the company announced a new publication showed data demonstrating that triple antimicrobial therapy with RHB-104 plus standard of care, targeting Mycobacterium avium subspecies paratuberculosis, is 64% more effective than SoC alone in Crohn&#8217;s disease.</li>
<li>Shares of Bone Biologics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBLG#NASDAQ">BBLG</a>) got a boost, surging 52% to $3.2897&nbsp;after gaining 23% on Wednesday.</li>
<li>Immuneering Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMRX#NASDAQ">IMRX</a>) shares were also up, gaining 38% to $1.555 after the company announced that IMM-1-104 was granted Fast Track designation from the FDA.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Vintage Wine Estates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VWE#NASDAQ">VWE</a>) shares dropped 38% to $0.0323 after the company announced a bankruptcy filing and a voluntary delisting and SEC deregistration.</li>
<li>Shares of ALX Oncology Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALXO#NASDAQ">ALXO</a>) were down 32% to $3.25. The company released topline data from its Phase 2 ASPEN-06 clinical trial.</li>
<li>Alphatec Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATEC#NASDAQ">ATEC</a>) was down, falling 31% to $7.01 after the company reported mixed second-quarter financial results.</li>
</ul>
Commodities In commodity news, oil traded up 0.6% to $78.37 while gold traded up 1% at $2,497.80.
Silver traded up 0.7% to $29.125 on Thursday, while copper fell 0.5% to $4.1545.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.2%, Germany's DAX fell 1.1% and France's CAC 40 fell 1.3%. Spain's IBEX 35 Index fell 0.7%, while London's FTSE 100 rose 0.2%.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei 225 dipping 2.49%, Hong Kong's Hang Seng Index falling 0.23% and S&amp;P BSE Sensex gaining 0.15%.
Economics
<ul>
<li>The ISM manufacturing PMI declined to 46.6 in July versus 48.5 in the prior month, below market estimates of 48.8.</li>
<li>Construction spending declined by 0.3% month-over-month to an annual rate of $2,148 billion in June.</li>
<li>U.S. initial jobless claims by 14,000 to 249,000 in the week ending July 27th, beating market estimates of 236,000.</li>
<li>Nonfarm business sector labor productivity increased by 2.3% in the second quarter, compared to a revised 0.4% rise in the prior period.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40101200/top-3-health-care-stocks-that-are-set-to-fly-this-quarter">Top 3 Health Care Stocks That Are Set To Fly This Quarter</a></li>
</ul>

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