Latest news for SEP Acquisition (NASDAQ:SEPAU) Stock

SEP Acquisition Corp is a blank check company. It is formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

SEP Acquisition Corp Units (1 Ord Class A & 1/2 War)

SEP Acquisition Corp

Macro Economic Events

News

Econ #s

Economics

Germany Producer Price Index (MoM) For June 0.2% Vs. 0.1% Est.; 0.0% Prior

U.K. Retail Sales (YoY) For June -0.2% Vs. 0.2% Est.; 1.7% (Revised) Prior

U.K. Retail Sales (MoM) For June -1.2% Vs. -0.6% Est.; 2.9% Prior

U.K. Core Retail Sales (YoY) For June -0.8% Vs. 0.2% Est.; 1.6% (Revised) Prior

U.K. Core Retail Sales (MoM) For June -1.5% Vs. -0.5% Est.; 2.9% Prior

The aggregate gross proceeds from the Offering will be $8.6 million, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about July 22, 2024, subject to the satisfaction of customary closing conditions

IPOs

QMMM

Reported Earlier, QMMM Holdings Prices $8.6M Initial Public Offering Of 2.15M Ordinary Shares At $4/Share

<ul>
<li>Commercial deliveries soared circa&nbsp;170%&nbsp;sequentially while Executive Jets grew&nbsp;50%</li>
<li>US$21.1 bn&nbsp;company wide backlog up more than&nbsp;20%&nbsp;annually</li>
<li>20 E2 jets order from Mexicana de Aviaci&oacute;n</li>
<li>2nd&nbsp;C-390 Millennium aircraft delivered to&nbsp;Portugal</li>
</ul>

Embraer-Empresa Brasileira De Aeronautica

Reported Earlier, Embraer's Q2 Deliveries Surge By 88% QoQ; Backlog Reaches 7-Year High Of $21.1B (+20% YoY)

A widespread Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) cloud service disruption on Thursday led to the grounding and cancellation of flights for several airlines, including Frontier Group Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>), Allegiant Travel Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGT#NASDAQ">ALGT</a>), and Sun Country Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNCY#NASDAQ">SNCY</a>).
What Happened: Microsoft reported issues with its cloud services in the Central U.S. region, which significantly impacted the operations of several airlines, Reuters reported on Friday. 
The low-cost carriers, including Frontier Airlines, Allegiant, and Sun Country, experienced outages that affected their day-to-day operations.
Frontier Airlines confirmed that a &#8220;major Microsoft technical outage&#8221; had temporarily disrupted its operations. On the other hand, Sun Country pointed to a third-party vendor that affected its booking and check-in facilities, without naming the company. Allegiant&#8217;s website was also affected, leading to its unavailability.
As a result, Frontier Airlines had to cancel 147 flights and delay 212 others on Thursday. Allegiant and Sun Country also experienced significant disruptions, with 45% and 23% of their flights delayed, respectively.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39813495/why-key-apple-nvidia-supplier-tsmcs-shares-are-plunging-in-wednesdays-premarket?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Key Apple, Nvidia Supplier TSMC&#8217;s Shares Are Plunging In Wednesday&#8217;s Premarket</a>
Microsoft&#8217;s outage began at approximately 6 p.m. ET on Thursday, affecting a subset of its customers with issues in multiple Azure services in the Central U.S. region. Azure is a cloud computing platform that offers services for building, deploying, and managing applications and services.
Why It Matters: This is not the first time Microsoft has faced issues with its cloud services. In January 2023, Microsoft 365 experienced a global outage that impacted services like Teams, Outlook, and Xbox Live. The company later identified a <a href="https://www.benzinga.com/news/23/01/30563549/microsoft-365-services-down-globally-for-hours-company-says-rolled-back-a-network-change">potential networking issue</a>.
Microsoft&#8217;s cloud services have also been subject to scrutiny. In May, a Spanish <a href="https://www.benzinga.com/news/24/05/38669008/microsoft-faces-scrutiny-over-cloud-practices-as-spanish-startup-association-files-complaint-all-com">startup group filed a complaint</a> against Microsoft&#8217;s cloud practices, alleging that the tech giant was using its dominant position to force the adoption of its Azure cloud. This complaint adds to the challenges faced by Microsoft&#8217;s rapidly expanding cloud computing services.
In its annual sustainability report in May, Microsoft reported a <a href="https://www.benzinga.com/news/24/05/38875696/microsofts-ai-ambition-and-data-center-growth-side-effects-emissions">nearly 30% increase in emissions</a> since 2020, primarily driven by the expansion of data centers required for AI and cloud computing.
Price Action: Microsoft Corp&#8217;s stock closed at $440.37 on Thursday, down 0.71% for the day. In after-hours trading, the stock rose 0.28%. Year to date, Microsoft shares have gained 18.74%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39787824/as-trumps-chances-of-presidency-improve-analysts-say-his-return-to-white-house-could-boost-these-3-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Trump&#8217;s Chances Of Presidency Improve, Analysts Say His Return To White House Could Boost These 3 Sectors</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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Travel

Markets

Tech

ALGT

MSFT

SNCY

ULCC

Microsoft Cloud Outage Grounds Flights, Disrupts Operations Of Frontier, Allegiant, And Sun Country Airlines, Leading To Hundreds Of Cancellations And Delays

BRKH

Reported Earlier, BurTech Acquisition Corp. And Blaize File Form S-4 with SEC For Proposed Business Combination

Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is setting its sights on a larger portion of the TV market, seeing Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) YouTube as both a competitor and a collaborator.
What Happened: During its <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game">second-quarter earnings</a> call, Netflix co-CEO Ted Sarandos responded to a question from Morgan Stanley&#8217;s Ben Swinburne about the company&#8217;s strategy to compete with YouTube for more passive home entertainment engagement.
Sarandos said that Netflix and YouTube together make up about 50% of all streaming to TVs in the U.S. citing Nielsen data from June. 
&#8220;So our two services — us and YouTube represent about 50% of all streaming to the TV in the U.S. and we use the U.S. only because that&#8217;s where we have the data. So really what we&#8217;re focused on here is focusing ourselves on that other 80% of total TV time that isn&#8217;t going to either us or YouTube,&#8221; he said.
See Also: <a href="https://www.benzinga.com/general/gaming/24/07/39826578/discover-xboxs-deadpool-inspired-cheeky-controller-and-how-to-get-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Discover Xbox's Deadpool-Inspired ‘Cheeky Controller' And How To Get It</a>
While recognizing competition with YouTube in certain areas, Sarandos also underscored a mutualistic relationship. He pointed out that Netflix&#8217;s popular teasers, trailers, and behind-the-scenes clips perform well on YouTube, indicating that the two platforms &#8220;feed each other pretty nicely.&#8221;
Greg Peters, another Netflix executive, stated that Netflix meets a unique need for consumers and creators by offering high-quality movies and TV shows that generate significant viewership and fandom. &#8220;It&#8217;s really hard to imagine how that kind of big creative bet would happen and be possible within YouTube&#8217;s model.&#8221;
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Netflix had a successful second quarter. The company reported a revenue of $9.56 billion, a 16.8% increase year-over-year, beating the Street consensus estimate of $9.53 billion, according to data<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener"> from Benzinga Pro.</a>
The company also made a significant move by <a href="https://www.benzinga.com/general/entertainment/24/07/39852314/netflix-ends-lowest-priced-ad-free-plan-in-the-us-here-are-your-choices-now">discontinuing its most affordable ad-free</a> subscription plan in the U.S. and France as it stated that &#8220;ad revenue is growing nicely and is becoming a more meaningful contributor&#8221; to its business.
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;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39830453/days-after-elon-musk-deemed-university-of-tokyos-idea-pointless-scientists-develop-smiling-robot-wit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Days After Elon Musk Deemed University Of Tokyo's Idea ‘Pointless,' Scientists Develop Smiling Robot With Living Skin</a></li>
</ul>
Disclaimer:&nbsp;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.

Entertainment

GOOG

GOOGL

NFLX

Netflix Aims To Capture Broader TV Market, Sees YouTube As Both Competitor And Partner: 'We Kind Of Feed Each Other Pretty Nicely'

Canine coin dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) bucked the broader memecoin slump to post healthy gains Thursday.
What Happened: The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based coin, which features a Shiba Inu puppy wearing a pink-knitted hat, spiked more than 8% in the last 24 hours to a 1-month high. 
The surge came even as the broader memecoin market, including blue-chip currencies, tumbled. Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), and Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39853051/dogecoin-killer-shiba-inu-burn-rate-shoots-up-875-even-as-price-comes-under-pressure-after">were all trading in the red </a>as of this writing. The total memecoin market cap shrank 4.21% in the last 24 hours
WIF's spike extended its weekly gains to over 51%, the highest in the cryptocurrency market. Year-to-date, the dog-themed coin has jumped a staggering 1471%, the largest among memecoins with a market cap greater than $1 billion.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852783/bitcoin-ethereum-dogecoin-fall-as-trumps-presidency-odds-dip-on-prediction-market-analyst-">Bitcoin, Ethereum, Dogecoin Fall As Trump&#8217;s Presidency Odds Dip On Prediction Market: Analyst Highlights &#8216;Long The Dip Time&#8217;</a>
Why It Matters: A widely-followed cryptocurrency trader on X, going by the pseudonym HornHairs said that the coin was poised for further gains if it manages to hold above $2.20. The trader flagged $3 as the next target for the cryptocurrency.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> looks solid as long as it can hold above this $2.20 level we&#39;re breaching at the moment $3 first target <a href="https://t.co/H6PE28YjqU">pic.twitter.com/H6PE28YjqU</a>
&mdash; HornHairs &#x1f30a; (@CryptoHornHairs) <a href="https://twitter.com/CryptoHornHairs/status/1814051996929778119?ref_src=twsrc%5Etfw">July 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: At the time of writing, WIF was exchanging hands at $2.41, up 8,72% in the last 24 hours, according to<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.."> data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39844029/mt-gox-creditors-lean-towards-holding-bitcoin-new-poll-reveals">Mt. Gox Creditors Lean Towards Holding Bitcoin, New Poll Reveals</a></li>
</ul>
Image via Shutterstock

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

Cryptocurrency

Movers

Trading Ideas

$DOGE

$PEPE

$SHIB

$SOL

$WIF

Dogwifhat 'Looks Solid' Says Crypto Trader As Dog-Themed Crypto Surges 8% Even As Dogecoin, Shiba Inu Bleed

Taking into consideration recent trends in the business and the global economy, continued double digit quarterly&nbsp;earnings growth, and historical seasonal patterns, the Company remains confident in its previously announced expectations that its 2024 adjusted EPS will grow&nbsp;10-15%&nbsp;year-over-year, consistent with its 10 and 20 year compounded annualized growth rates. This&nbsp;outlook&nbsp;does not include any changes that may develop in foreign exchange rates, interest rates or&nbsp;other unforeseen factors.

Earnings

Guidance

EEFT

Euronet Worldwide Continues To Expect 2024 Adjusted EPS Growth Of 10%-15% YoY

Euronet Worldwide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EEFT#NASDAQ">EEFT</a>) reported quarterly earnings of $2.25 per share which missed the analyst consensus estimate of $2.26 by 0.44 percent. This is a 10.84 percent increase over earnings of $2.03 per share from the same period last year. The company reported quarterly sales of $986.200 million which missed the analyst consensus estimate of $1.007 billion by 2.08 percent. This is a 5.02 percent increase over sales of $939.100 million the same period last year.

Earnings Misses

Euronet Worldwide Q2 2024 Adj EPS $2.25 Misses $2.26 Estimate, Sales $986.200M Miss $1.007B Estimate

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 American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) to report quarterly earnings at $3.26 per share on revenue of $16.59 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. American Express shares gained 0.1% to $249.50 in after-hours trading.</li>
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game">posted better-than-expected earnings</a> and sales results for its second quarter. The company ended the second quarter with 277.65 million paid members, adding 8.05 million paid members in the quarter. Netflix shares fell 0.1% to $642.70 in the after-hours trading session.</li>
<li>Analysts expect Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) to post quarterly earnings at 83 cents per share on revenue of $9.08 billion. The company will release earnings before the markets open. SLB shares rose 1% to $49.19 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>PPG Industries Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) <a href="https://www.benzinga.com/news/earnings/24/07/39849701/ppg-industries-stock-falls-on-q2-earnings-the-details">reported</a> mixed second-quarter financial results and cut its guidance. The company reported second-quarter revenue of $4.794 billion, missing analyst estimates of $4.924 billion. The company reported adjusted earnings of $2.50 per share, beating analyst estimates of $2.48 per share. PPG shares fell 2.9% to $127.90 in the after-hours trading session.</li>
<li>Analysts expect Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) to post quarterly earnings at 80 cents per share on revenue of $5.95 billion before the opening bell. Halliburton shares rose 0.2% to $36.50 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39837510/top-3-tech-stocks-you-may-want-to-dump-this-quarter">Top 3 Tech Stocks You May Want To Dump This Quarter</a></li>
</ul>
Photo courtesy: Netflix

Pre-Market Outlook

Netflix, American Express And 3 Stocks To Watch Heading Into Friday

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan National Consumer Price Index (MoM) For June 0.3% Vs. 0.5% Prior

Reported Earlier, Japan National Core Consumer Price Index (YoY) For June 2.6% Vs. 2.7% Est.; 2.5% Prior

In his speech at the Republican National Convention, Republican presidential nominee Donald Trump urged Democrats to stop the &#8220;partisan witch hunts&#8221; against him, using the recent dismissal of his classified documents case by a Florida judge as an example.
He also stated that the Democratic Party should cease using the justice system as a political weapon and refrain from labeling their opponents as enemies of democracy.
"They got subpoenaed more than any people, probably the history of the United States every week, they get another subpoena from the Democrats, crazy Nancy Pelosi," Trump said. "They've got to stop that because they are destroying our country."
Trump claimed that inflation was absent during his presidency, contrasting his administration with President Joe Biden&#8216;s early years, which were marked by decades-high inflation. "We had no inflation," Trump said.
The former president vowed to eliminate the &#8220;waste&#8221; of taxpayer dollars that he claims is driving inflation and increasing energy costs.
Fact Check: Inflation was relatively low during Trump&#8217;s presidency, but it was not zero. The Consumer Price Index, a widely used measure of inflation, increased by about 8% over his four years in office. In January 2021, his final partial month in office, it had risen by 1.4% compared to the previous year, according to the Bureau of Labor Statistics.
See Also: <a href="https://www.benzinga.com/government/24/07/39852736/exclusive-biden-victory-fund-suspends-donor-calls-pause-calling-indefinitely-as-of-tonight" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Biden Victory Fund Suspends Donor Calls: ‘Pause Calling Indefinitely As Of Tonight'</a>
Trump reiterated his claim that he enacted the largest tax cuts in history during his administration. Trump promoted one of his new proposals to eliminate federal income taxes on tips, noting its popularity among waitresses, caddies, and drivers. He mentioned that the idea was inspired by a waitress in Nevada.
After Trump mentioned &#8220;drill, baby, drill&#8221; while outlining his energy plan to lower gas prices, the chant was echoed by members of the audience. Trump asserted that a new Trump administration would prioritize extensive drilling, which he believes would significantly reduce prices.
Trump proposed reallocating funds from environmental projects to infrastructure projects such as roads, bridges, and dams, dismissing what he referred to as a &#8220;Green New Scam.&#8221; He also stated that he would halt efforts to promote electric vehicles.
Trump claimed he had &#8220;stopped the missile launches from North Korea,&#8221; noting his historic meetings with North Korean leader Kim Jong-un in 2018 and 2019, where he became the first sitting U.S. president to visit North Korea.
Despite these interactions, North Korea has been providing weapons and munitions to Russia to support Moscow's war against Ukraine, seeking defense technology in return. Last month, the two countries signed a military pact. Trump remarked that he believes Kim Jong Un &#8220;misses me.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39852878/trump-says-he-is-accepting-presidential-nomination-with-faith-and-devotion-there-is-no-victory-in-wi">Trump Says He Is Accepting Presidential Nomination With Faith And Devotion — &#8216;There Is No Victory In Winning For Half Of America&#8217;</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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Politics

Global

Trump Blasts 'Crazy' Nancy Pelosi, Vows To End Inflation, And Claims Kim Jong Un 'Misses' Him In RNC Address

American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) is scheduled to release its second-quarter financial results, before the <a href="https://www.benzinga.com/quote/AXP/earnings">opening bell on Friday, July 19.</a>
Analysts expect the New York-based company to report quarterly earnings at $3.25 per share, up from $2.89 per share in the year-ago period. American Express will post revenue of $16.59 billion, compared to $15.05 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On July 8, American Express declared a quarterly dividend on the Company&#8217;s 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D, of $9,072.22 per share (which is equivalent to $9.07222 per related Depositary Share).
American Express shares fell 0.3% to close at $249.20 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/AXP/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Compass Point analyst David Rochester initiated coverage on the stock with a Neutral rating and a price target of $260 on July 16. This analyst has an accuracy rate of 71%.</li>
<li>Wells Fargo analyst Donald Fandetti maintained an Overweight rating and increased the price target from $275 to $285 on July 9. This analyst has an accuracy rate of 73%.</li>
<li>JP Morgan analyst Richard Shane maintained an Overweight rating and boosted the price target from $240 to $268 on July 8. This analyst has an accuracy rate of 70%.</li>
<li>Citigroup analyst Keith Horowitz initiated coverage on the stock with a Neutral rating and a price target of $250 on June 10. This analyst has an accuracy rate of 82%.</li>
<li>RBC Capital analyst Jon Arfstrom maintained an Outperform rating and raised the price target from $253 to $263 on May 1. This analyst has an accuracy rate of 82%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/07/39837510/top-3-tech-stocks-you-may-want-to-dump-this-quarter">Top 3 Tech Stocks You May Want To Dump This Quarter</a>

Price Target

Analyst Ratings

American Express Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Deepwater Asset Management&#8217;s managing director Gene Munster noted Netflix Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) late reference to AI during the <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game">company&#8217;s earnings call</a>, saying that the streaming behemoth doesn&#8217;t have AI at its core.
What Happened: Munster took to X, formerly Twitter, on Thursday, and said that it took 27 minutes for the term &#8220;generative AI&#8221; to be mentioned during the Netflix earnings video. 
He noted that the company&#8217;s approach to AI was largely as expected, with an emphasis on enhancing targeting and improving the tools for superior content creation.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39790358/production-delays-force-apple-to-skip-tsmcs-2nm-chip-for-iphone-17-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Production Delays Force Apple To Skip TSMC&#8217;s 2nm Chip For iPhone 17: Report</a>
Munster&#8217;s main takeaway from the call was that Netflix is &#8220;not an AI company.&#8221; This statement implies that despite Netflix&#8217;s use of AI for content enhancement and targeting, it does not constitute the heart of its business model or strategy.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It took 27 minutes for &quot;generative AI&quot; to come up on the <a href="https://twitter.com/search?q=%24NFLX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NFLX</a> earnings video. The response was as largely as expected; AI will improve targeting and improve the tools the make the content better. Bottom line: Netflix is not an AI company.
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1814047760317825031?ref_src=twsrc%5Etfw">July 18, 2024</a></blockquote>
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Why It Matters: In its second-quarter earnings report, Netflix reported revenue of $9.56 billion, a 16.8% increase year-over-year, beating a Street consensus estimate of $9.53 billion, according to data<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener"> from Benzinga Pro.</a>
Netflix is projecting third-quarter revenue to reach $9.73 billion, marking a 13.9% increase from the same period last year. The guidance for the third quarter also includes an expected earnings per share of $5.10.
NFLX Price Action: Netflix shares closed Thursday&#8217;s session down 0.68% at $643.04. In after-hours trading, the company&#8217;s shares declined further to $641.89 at the time of writing.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;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.

Netflix Delay In Bringing Up AI At Earnings Call Didn't Escape Gene Munster: 'Not An AI Company'

Shiba Inu&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) burn rate shot up significantly in the last 24 hours even as the memecoin faced intense selling presure from the sale of tokens stolen from <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39835533/wazirx-suffers-230m-hack-suspends-withdrawals-amid-security-breach">Indian cryptocurrency exchange</a> WazirX. 
What Happened: Nearly 52 million SHIB tokens were kicked out of circulation, according to the official burn tracker <a href="https://www.shibburn.com/" target="_blank" rel="noreferrer noopener">Shibburn</a>, representing an impressive 875% spike. The surge in burn rate exerted deflationary pressure but was not enought to offset the pain caused by hackers of WazirX who dumped trillions of SHIB in the last 24 hours.
The popular dog-themed coin fell 8% in the past 24 hours following a security breach at the trading platform, which led to the loss of $230 million in cryptocurrencies, primarily in SHIB.
The attackers sold the entirety of 5.4 trillion SHIB, the total worth of which was $94 million as of writing, <a href="https://x.com/spotonchain/status/1814122632792736115">according </a>to data from Spot On Chain.
SHIB's trading volume more than tripled in the last 24 hours to $1.29 billion, indicating panic-selling by investors.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852783/bitcoin-ethereum-dogecoin-fall-as-trumps-presidency-odds-dip-on-prediction-market-analyst-">Bitcoin, Ethereum, Dogecoin Fall As Trump&#8217;s Presidency Odds Dip On Prediction Market: Analyst Highlights &#8216;Long The Dip Time&#8217;</a>
Why It Matters: SHIB's slump influenced other memecoins, as Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) also witnessed notable declines. The total memecoin market cap plunged 4.49% in the last 24 hours.&nbsp;
According to <a href="https://app.intotheblock.com/?end_offset=20">IntoTheBlock,</a> whales actively offloaded SHIB, as evidenced by an astounding 1876% increase in high transaction volume for the memecoin.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001769, down 8% in the last 24 hours, according to<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.."> data from Benzinga Pro</a>.
Read Next:&nbsp;
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