Latest news for Smartoptics Gr (OTC:SMOPF) Stock

Smartoptics Group AS provides optical networking solutions and devices for open networking. The company has three main product categories: Solutions, Optical Devices, and Software & Services. These products are used to construct various Enterprise, Governmental, DCI, Metro, and Regional networks. The Solutions consist of the DCP-R family, DCP-F family, DCP-M family, Transponders and Muxponders, as well as transceivers used in connection with the System projects. Optical devices consist of transceivers, passive filters, and accessories that are sold independent of products in the Solutions offering. Software and Services are closely related to Solutions, as customers buy a complete solution including a Software and Services package.

SMARTOPTICS GROUP AS by SMARTOPTICS GROUP AS

Smartoptics Group AS

Truist Securities analyst William Stein maintains Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) with a Hold and lowers the price target from $162 to $156.

News

Price Target

Analyst Ratings

Truist Securities Maintains Hold on Advanced Micro Devices, Lowers Price Target to $156

The East Asia games market, a pivotal player in the global gaming industry, is projected to experience a <a href="https://www.benzinga.com/topic/gaming-industry">slight downturn in 2024. </a>
According to the latest report by Niko Partners (<a href="https://www.gamesindustry.biz/niko-partner">via</a> GamesIndustry.Biz), the market, which generated $30.1 billion in 2023, is expected to contract by 2.9%, resulting in an estimated $29.2 billion in revenue for the coming year.
See Also: <a href="https://www.benzinga.com/markets/asia/24/06/39213251/asia-mena-gaming-markets-reach-85-5b-in-2023-see-future-projections">Asia, MENA Gaming Markets Reach $85.5B In 2023: See Future Projections</a>
<h3 class="wp-block-heading">Mobile Gaming Dominates Revenue</h3>
Mobile gaming remains the dominant force in East Asia, contributing a substantial 68.4% to the region&#8217;s total revenue. This segment continues to be a significant driver of growth, capturing the lion's share of gaming expenditures. 
Moreover, the popularity of mobile games aligns with global trends, where accessibility and convenience play crucial roles in consumer preferences.
<h3 class="wp-block-heading">Multiplatform Gaming On the Rise</h3>
A key highlight from the East Asia Gamers Behaviour and Market Insights report is the growing trend of multiplatform gaming. 
The report reveals that 97 million gamers in Japan and Korea are now engaging with multiple gaming platforms. This trend reflects a broader shift towards cross-platform play, with 39% of Japanese gamers and 58% of Korean gamers utilizing at least two different platforms.
In Japan, mobile gamers are leading this trend, with over 70% of them playing across multiple platforms. In South Korea, the trend is even more pronounced among PC gamers, with 90% engaging with various platforms. This cross-platform engagement is not merely a fad but an emerging standard, driven by the availability of games across consoles, mobile devices, and PCs.
Furthermore, the report also highlights the increasing role of game livestreaming in the gaming experience. Over 31% of Japanese gamers and 40% of Korean gamers are active viewers of game livestreams. 
YouTube remains the preferred platform for livestreaming content, though local platforms such as SOOP (AfreecaTV) in Korea and NicoNico in Japan also hold significant shares of the market.
&#8220;We noticed a large increase in gamers reporting to play on more than one platform in the past year,&#8221; said Lisa Hanson, CEO of Niko Partners. &#8220;Some of this is due to availability on consoles in Japan after scarcity during the pandemic, and some of it is due to more games being developed for multi-platform use that drive engagement on consoles, mobile, and PC. What is most notable is that gamers in East Asia demonstrate that cross-platform games lead to higher engagement.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/markets/asia/24/03/37564487/international-womens-day-spotlight-37-of-asian-gamers-are-women-growth-rate-hits-11">International Women&#8217;s Day Spotlight: 37% Of Asian Gamers Are Women, Growth Rate Hits 11%</a></li>
</ul>
Image credits: <a href="https://www.shutterstock.com/es/g/anontae2522">anon_tae</a> on Shutterstock.

Asia

Gaming

Markets

General

East Asia's Gaming Market Faces 2.9% Drop In 2024, Mobile Gaming Leads Revenue

Truist Securities analyst Jamie Cook reiterates AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) with a Buy and lowers the price target from $130 to $118.

Reiteration

AGCO

Truist Securities Reiterates Buy on AGCO, Lowers Price Target to $118

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is raising $1.8 billion in a debt offering. The move is being done to help the company refinance debt and to continue competing in the highly <a href="https://www.benzinga.com/topic/streaming-stocks">competitive streaming sector.</a>
What Happened: Netflix ended <a href="http://Netflix Q2 Earnings Highlights: Revenue Beat, EPS Beat, Advertising Revenue 'More Meaningful,' 'Squid Game' Multiplayer Game Coming">the second quarter</a> with 277.65 million global paid subscribers, adding 8.05 million paid subs in the quarter.
The company continues to be a leader in the streaming space and a new debt offering could be done to continue that leadership.
Netflix is raising $1.8 billion with $1 billion in 4.9% senior notes due in 2034 and $800 million in 5.4% senior notes due in 2054.
This is Netflix&#8217;s first debt offering since April 2020 and the first since being upgraded to investment-grade status by Moody's and S&amp;P Global in 2023, as <a href="https://www.hollywoodreporter.com/business/business-news/netflix-raising-cash-new-debt-offering-1235961175/">reported </a>by The Hollywood Reporter.
Netflix said it will use the cash raised from the offering to refinance debt that matures next year and for "general corporate purposes."
"Our management will have broad discretion in the application of the net proceeds, and the purposes for which they are used may change from those described above," the company said.
Read Also: <a href="https://www.benzinga.com/news/24/07/39932764/kamala-harris-presidential-campaign-secures-7m-from-netflix-co-founder-reed-hastings">Kamala Harris&#8217; Presidential Campaign Secures $7M From Netflix Co-Founder Reed Hastings</a>
Why It's Important: The new debt offering appears to be mainly to refinance existing debt, but will likely catch the eyes of investors and analysts and could lead to speculation.
Netflix has been aggressive in acquiring sports rights with WWE content and two National Football League games among the upcoming live sports content being available to subscribers in the future.
The company is also continuing to pursue its gaming aspirations and seeking growth with its ad-supported plan.
Armed with additional cash from the offering, the company could consider acquisitions in the streaming or gaming space to continue its growth.
NFLX Price Action: Netflix shares are up 1% to $626.30 on Wednesday, versus a 52-week trading range of $344.73 to $697.49. Netflix stock is up 28% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/07/39919493/j-d-vance-movie-hillbilly-elegy-cracks-netflix-top-10-after-senator-picked-as-trumps-2024-e">J.D. Vance Movie &#8216;Hillbilly Elegy&#8217; Cracks Netflix Top 10 After Senator Picked As Trump&#8217;s 2024 Election Running Mate</a></li>
</ul>
Photo: QubixStudio / Shutterstock.com

Entertainment

Financing

Trading Ideas

NFLX

Netflix To Raise $1.8 Billion: Here's How The Company Is Using Funding From First Debt Offering In 4 Years

RENB

Renovaro Shares Halted On Circuit Breaker To The Upside, Stock Now Up 65.7%

Truist Securities analyst Srikripa Devarakonda initiates coverage on Nurix Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRIX#NASDAQ">NRIX</a>) with a Buy rating and announces Price Target of $36.

Initiation

NRIX

Truist Securities Initiates Coverage On Nurix Therapeutics with Buy Rating, Announces Price Target of $36

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has come under scrutiny for reportedly running ads on Facebook and Instagram that direct users to online marketplaces for illegal drugs, even as it faces a federal investigation over the same issue.
What Happened: Meta has been reportedly profiting from ads that violate its own policies against promoting illicit or recreational drugs, The Wall Street Journal <a href="https://www.wsj.com/tech/meta-cocaine-opioids-ads-dea8e0fc?mod=hp_lead_pos4">reported</a> on Wednesday. The review found numerous ads selling illegal substances like cocaine and prescription opioids. Furthermore, an independent analysis by an industry watchdog group found hundreds of such ads over recent months.
These ads often display images of prescription drug bottles, piles of pills, or bricks of cocaine. One ad discovered in July encouraged users to &#8220;Place your orders,&#8221; alongside a photo of a razorblade and a yellow powder arranged to spell out &#8220;DMT,&#8221; a psychedelic drug.
Meta&#8217;s artificial intelligence tools for content moderation have been unsuccessful in stopping these drug ads, which often redirect users to other platforms for purchases. The use of photos to display the drugs available appears to allow the ads to bypass Meta&#8217;s content-moderation systems.
See Also: <a href="https://www.benzinga.com/news/24/07/40057398/elon-musk-might-be-sidelining-linkedin-to-promote-x-but-microsoft-ceo-satya-nadella-says-it-continue?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Might Be Sidelining LinkedIn To Promote X, But Microsoft CEO Satya Nadella Says It Continues To See &#8216;Record Engagement&#8217;</a>
Users who click on the Facebook pages or Instagram accounts associated with these ads often find additional, nonsponsored photos or posts of drug-related content. The links in the ads typically lead users to private group chats on the app Telegram, which isn't owned by Meta.
Meta disabled many of the drug ads identified by the Journal within 48 hours of their publication, according to a company spokesman. All of the ads have now been removed for violating Meta's policies, and the users who created the ads have been banned from the platform.
There has been ongoing discussion among lawmakers about holding technology companies accountable for third-party posts on their platforms. However, efforts have been complicated by Section 230 of the Communications Decency Act, which generally exempts online platforms from liability for third-party posts.
Meta has yet to respond to the queries sent by Benzinga.
Why It Matters: This isn&#8217;t the first time Meta has been linked to illicit drug sales. In March, U.S. prosecutors were investigating <a href="https://www.benzinga.com/markets/cannabis/24/03/37767225/do-meta-and-other-platforms-play-a-role-in-illicit-drug-sales-us-prosecutors-are-investigating">whether Meta&#8217;s platforms</a> were facilitating and profiting from the illegal sale of drugs.
This followed a <a href="https://www.benzinga.com/news/23/06/32888989/facebook-instagram-flooed-with-ads-for-ozempic-style-weight-loss-drugs-nbc-news">June 2023 report</a> about a surge in ads for weight-loss drugs on Facebook and Instagram. Meta&#8217;s platform Threads was also found to be directing users to rehab <a href="https://www.benzinga.com/markets/cannabis/23/07/33141236/metas-threads-directs-cannabis-psychedelics-users-to-rehab-help-but-alcohol-and-tobacco-are-no-b">help for cannabis and psychedelic</a> use.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40038023/magnificent-seven-face-pivotal-market-moment-as-4-mega-tech-giants-report-earnings-this-week?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Magnificent 7 Face Pivotal Market Moment As 4 Mega Tech Giants Report Earnings This Week</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>

Meta Slammed For Reportedly Profiting From Ads Promoting Illegal Drugs

Barclays analyst Seth Sigman maintains Beyond (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>) with a Equal-Weight and lowers the price target from $16 to $14.

BYON

Barclays Maintains Equal-Weight on Beyond, Lowers Price Target to $14

WIIM

PEPG

PepGen shares are trading lower. The company announced clinical data from the first dose cohort of PGN-EDO51.

PYPL

PayPal shares are trading higher amid continued strength after the company yesterday reported better-than-expected Q2 financial results. Also, Bernstein upgraded the stock from Market Perform to Outperform and multiple firms raised their respective price targets.

BMO Capital analyst Ameet Thakkar maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Outperform and lowers the price target from $311 to $286.

FSLR

BMO Capital Maintains Outperform on First Solar, Lowers Price Target to $286

Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading lower today.</a>
The company reported second-quarter adjusted earnings per share of $2.50, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n40063571/marriott-international-reports-second-quarter-2024-results" rel="noreferrer noopener">beating the street view of $2.47.</a>
Quarterly sales of $6.439 billion missed the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">analyst consensus of $6.483 billion.</a>
Anthony Capuano, President and Chief Executive Officer, said, &#8220;Marriott reported strong second quarter results, with net rooms up 6 percent year over year and worldwide RevPAR&nbsp;growth of nearly 5 percent, as consumers continued to prioritize travel&#8221;.&nbsp;
International RevPAR rose over 7%, driven by a notable 13% increase in Asia Pacific (excluding China) compared to the previous year.
Adjusted EBITDA for the quarter was $1.324 billion, up from $1.219 billion in the year-ago period.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/40062747/asia-markets-up-europe-opens-higher-crude-advances-2-6-global-markets-today-while-us-slept" rel="noreferrer noopener">Asia Markets Up, Europe Opens Higher, Crude Advances 2.6% &#8211; Global Markets Today While US Slept</a>
Base management and franchise fees totaled&nbsp;$1.148 billion&nbsp;in the quarter, up 9%. Incentive management fees totaled&nbsp;$195 million&nbsp;in the 2024 second quarter, compared to&nbsp;$193 million a year ago.
At the end of the quarter, Marriott&#8217;s global development pipeline included around 3,500 properties and over 559,000 rooms.
This total comprises approximately 33,000 rooms approved but not yet under signed contracts, with more than 209,000 rooms currently under construction.
At the end of the quarter, Marriott&#8217;s total debt was&nbsp;$13.1 billion&nbsp;and cash and equivalents totaled&nbsp;$0.3 billion.
Outlook: Marriott expects third quarter 2024 gross fee revenues to range between $1.275 billion and $1.29 billion, with adjusted EPS projected to be $2.27 to $2.33, <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">falling short of the $2.38 estimate.</a>
Marriott projects full-year 2024 adjusted EPS between $9.23 and $9.40, significantly below the $9.50 estimate <a target="_blank" href="https://www.benzinga.com//node/38545409" rel="noreferrer noopener">(prior view: $9.31&nbsp;to&nbsp;$9.65), </a>with gross fee revenues of $5.13 billion to $5.18 billion (prior view
$5.18 billion&nbsp;to&nbsp;$5.28 billion).
Price Action: MAR shares are trading lower by 4.51% to $228.00 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons
Read Next:
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<li><a href="https://www.benzinga.com/24/07/40061267/asml-shares-surge-over-7-as-team-biden-plans-to-exempt-allies-from-new-rule-on-foreign-chip-equipmen" target="_blank" rel="noreferrer noopener">ASML Shares Surge Over 7% As Team Biden Plans To Exempt Allies From New Rule On Foreign Chip Equipment Export To China</a></li>
</ul>

Earnings

Equities

Guidance

Movers

Marriott Shares Drop 5% Despite Q2 EPS Beat; Slashed FY24 Outlook Disappoints Investors

Barclays analyst Peter Lawson maintains Arvinas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) with a Overweight and lowers the price target from $60 to $48.

ARVN

Barclays Maintains Overweight on Arvinas, Lowers Price Target to $48

BMO Capital analyst James Thalacker maintains CenterPoint Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNP#NYSE">CNP</a>) with a Outperform and lowers the price target from $32 to $31.

BMO Capital Maintains Outperform on CenterPoint Energy, Lowers Price Target to $31

Macro Economic Events

Global

Economics

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

Hamas Senior Official Al-Hayya Says All Options Failed With Israel, No Other Option But Resistance

NCLH

Norwegian Cruise Line Exec Says "Entire Increase In Our Guidance Is On The Back Of Stronger Pricing"

BMO Capital analyst Tamy Chen maintains George Weston (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WN#TSX">WN</a>) with a Market Perform and raises the price target from C$196 to C$220.

TSX:WN

BMO Capital Maintains Market Perform on George Weston, Raises Price Target to C$220

BMO Capital analyst Ketan Mamtora maintains UFP Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFPI#NASDAQ">UFPI</a>) with a Market Perform and raises the price target from $115 to $125.

UFPI

BMO Capital Maintains Market Perform on UFP Industries, Raises Price Target to $125

Clean Harbors shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 adjusted EBITDA guidance.

RBC Capital analyst Gregory Renza maintains Pacira BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCRX#NASDAQ">PCRX</a>) with a Outperform and lowers the price target from $42 to $37.

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