Latest news for SINOPEC Eng (Gr) Co (OTC:SNPRY) Stock

SINOPEC Engineering (Group) Co Ltd is a wholly owned subsidiary of the Sinopec Group, a Chinese company. The group provides integrated engineering services and technical patents for domestic and international refining and chemical engineering businesses. The group mainly contains four segments: engineering, consulting and licensing; engineering, procurement and construction (EPC) contracting; construction; and equipment manufacturing. The company generates a majority of its revenue from the EPC contracting segment. Geographically, the business presence of the group is predominantly seen in China, Kuwait, Saudi Arabia, and other countries.

SINOPEC ENGR GRP ADR H by Sinopec Engr Group Co Ltd

SINOPEC Engineering (Group) Co Ltd

Google&#8216;s parent company Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) experienced a decline in its stock value during pre-market trading on Tuesday. As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, GOOGL shares fell by 1.02%, while GOOG shares decreased by 1.01%. This downturn follows reports that the U.S. Department of Justice is <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">preparing to request a court order</a> requiring Google to divest its Chrome browser.
What Happened: The DOJ&#8217;s action stems from an August ruling that found Google guilty of illegally monopolizing the search market. Additionally, the department is expected to propose measures concerning Google&#8217;s AI and Android operating system.
Google&#8217;s Chrome browser, which commands approximately two-thirds of the global browser market, plays a vital role in controlling internet traffic and ad visibility, making it a significant revenue source for Google.
Google plans to appeal following a final ruling by U.S. District Judge Amit Mehta, expected by August 2025.
See Also: <a href="https://www.benzinga.com/news/retail-sales/24/11/42024288/consumer-tech-news-november-11-15-apple-plans-to-launch-an-ai-wall-tablet-meta-plans-to-introduce-ads-on-threads-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Consumer Tech News (November 11-15): Apple Plans To Launch An AI Wall Tablet, Meta Plans To Introduce Ads&nbsp;On Threads &amp; More</a>
Why It Matters: As Alphabet approaches the Department of Justice&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42036010/alphabet-on-trial-doj-remedies-loom-but-analyst-sees-20-upside-as-discount-to-meta-narrows">final proposed remedies</a> on Nov. 20, the stakes are high. JPMorgan analyst Doug Anmuth anticipates potential headline risk but also sees this as an opportunity for clarity, paving the way for Google&#8217;s response and future appeal strategies. Despite the looming legal challenges, Anmuth maintains an Overweight rating on GOOGL stock, with a price target of $212, 20% above current levels.
Meanwhile, Verily, Alphabet&#8217;s <a href="https://www.benzinga.com/news/global/24/11/42053801/alphabets-life-sciences-firm-verily-to-become-a-standalone-entity-disconnect-from-google">life sciences subsidiary, </a>is preparing to become a standalone entity by December. This separation from Google, including cutting ties with its cloud infrastructure and employee benefits, is seen as a crucial step towards Verily&#8217;s goal of operating independently, though it will remain part of Alphabet.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Unsplash

News

Pre-Market Outlook

Markets

General

GOOG

GOOGL

Google's Parent Alphabet Shares Dip During Tuesday Pre-Market: What's Going On?

Citadel LLC CEO Ken Griffin, on Monday, while speaking at Oxford Union in the UK said that President-elect Donald Trump&#8216;s economic policies including tariffs are a &#8220;long, slippery slope,&#8221; that will hurt U.S. companies in the long run to compete globally.
What Happened: Griffin, a significant Republican donor, expressed confidence in Trump&#8217;s victory, saying that the U.S. economy is going back to "the business of business" after calling the former president&#8217;s economic policies as &#8220;regretfully&#8221; last year, <a href="https://www.bloomberg.com/news/articles/2024-11-18/ken-griffin-says-he-s-very-anxious-about-trump-s-tariff-policy">reported</a> Bloomberg. 
Since founding Citadel in 1990, Griffin has grown the company into a $65 billion giant and accumulated a personal fortune that, according to the Bloomberg Billionaires Index, is currently <a href="https://www.bloomberg.com/billionaires/profiles/kenneth-c-griffin/">valued</a> at $42.2 billion.
The 56-year-old hedge fund billionaire said he believes countries continue to spend more than they can afford and that he expects Trump&#8217;s administration would reduce the size of government in a broad conversation that covered a variety of subjects, including politics, investing, and immigration.
See Also: <a href="https://www.benzinga.com/general/market-summary/24/11/42055795/nvidia-shares-to-climb-over-140-levels-says-technical-analyst-ahead-of-q3-results-will-have-to-beat-street-expectations-for-the-trend-to-continue">Nvidia Shares To Climb Over $140+ Levels, Says Technical Analyst Ahead Of Q3 Results</a>
Why It Matters: Recently, tech investor and&nbsp;Palantir Technologies'&nbsp;co-founder&nbsp;Peter Thiel&nbsp;has made a daring prediction about the potential impact of Trump's&nbsp;<a href="https://www.benzinga.com/markets/24/11/42028954/peter-thiel-says-trumps-60-china-tariff-would-be-very-very-bad-for-beijing-heres-whats-at-stake">60% tariff on Chinese goods</a>.
Thiel said that shifting manufacturing from China to Vietnam would significantly harm China, and have only a minor impact on American consumers. From a geopolitical perspective, he argued, this move would align closely with American strategic interests.
Goldman Sachs estimates that a <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">potential universal tariff</a> would raise core personal consumption expenditures inflation — the Fed's favorite inflation gauge — by 0.9-1.2 percentage points at its peak, pushing inflation back to 3%.
Moreover, a recent study by the National Retail Federation warns that Trump's&nbsp;proposed tariffs could significantly impact American consumers, potentially reducing annual <a href="https://www.benzinga.com/news/24/11/41737933/trump-tariff-proposed-may-cost-americans-78b-in-spending-study">spending by $78 billion</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42052848/cathie-woods-ark-sells-10m-of-tesla-stock-as-trumps-av-plans-boost-stock">Cathie Wood&#8217;s Ark Sells $10M Of Tesla Stock As Trump&#8217;s AV Plans Boost Stock</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

Economics

GOP Megadonor Ken Griffin Warns Of 'Slippery Slope' In Trump's Tariff Plans, Sees US Returning To 'The Business Of Business'

BTIG analyst Julian Harrison upgrades Aclaris Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACRS#NASDAQ">ACRS</a>) from Neutral to Buy and announces $8 price target.

Upgrades

Price Target

Analyst Ratings

ACRS

BTIG Upgrades Aclaris Therapeutics to Buy, Announces $8 Price Target

Bernstein analyst Alex Irving downgrades Sabre (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SABR#NASDAQ">SABR</a>) from Market Perform to Underperform and announces $3 price target.

Downgrades

SABR

Bernstein Downgrades Sabre to Underperform, Announces $3 Price Target

Needham analyst Gil Blum reiterates Fate Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) with a Hold.

Reiteration

FATE

Needham Reiterates Hold on Fate Therapeutics

<ul>
<li>Combination of Complementary Businesses Expands Product Offering and Capabilities to Support Higher Growth for Customers</li>
<li>Combined R&amp;D and Innovation Investment Accelerates Development of Sustainable Packaging Solutions and Delivers Greater Choice for Customers and Consumers</li>
<li>$650 Million Annual Earnings Synergies Benefit</li>
<li>Over 35% Adjusted Cash EPS Accretion</li>
</ul>

AMCR

BERY

Amcor And Berry Global Join Forces In All-Stock Merger With $650M Synergies And 35% Adj. Cash EPS Accretion

HC Wainwright &amp; Co. analyst Matthew Caufield reiterates Adverum Biotechnologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADVM#NASDAQ">ADVM</a>) with a Buy and maintains $30 price target.

ADVM

HC Wainwright & Co. Reiterates Buy on Adverum Biotechnologies, Maintains $30 Price Target

HC Wainwright &amp; Co. analyst Yi Chen reiterates Barinthus Biotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRNS#NASDAQ">BRNS</a>) with a Buy and maintains $5 price target.

BRNS

HC Wainwright & Co. Reiterates Buy on Barinthus Biotherapeutics, Maintains $5 Price Target

Apple Inc. is making a change to its iCloud backup service, and if you're still using iOS 8 or earlier, you'll want to pay attention.
Starting Dec. 18, 2024, device backups will require iOS 9 or later. This means if your device is running iOS 8 or earlier, your backups will no longer be accessible via iCloud.&nbsp;
Here's how you can keep your data safe before the deadline:
Option 1: Update To iOS 9 Or Later
The easiest way to continue using iCloud Backup is to update your device to iOS 9 or later.
Step I: Go to Settings &gt; General &gt; Software Update.
Step II: If an update is available, follow the on-screen instructions to update your device.
For devices like the iPhone 4S or later, this will keep you on the iCloud backup system.
See Also: <a href="https://www.benzinga.com/tech/24/11/41931521/apples-2024-mac-mini-is-a-compact-powerhouse-but-its-power-button-placement-is-not-the-most-accessible-here-are-some-workable-fixes">Apple&#8217;s 2024 Mac Mini Is A Compact Powerhouse, But Its Power Button Placement Is Not The Most Accessible: Here Are Some Workable Fixes</a>
Option 2: Manually Back Up With iTunes Or Finder
If your device can't be updated or you'd prefer not to, you can back up your device manually. This involves using your Mac or PC.
On macOS Catalina or Later:
Step I: Connect your device to your Mac using a USB cable.
Step II: Open Finder and select your device from the sidebar.
Step III: Click on General at the top of the window.
Step IV: Choose "Back up all of the data on your iPhone to this Mac" and select Encrypt local backup if you want extra security.
Step V: Hit Back Up Now.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
On Windows or older macOS Versions:
Step I: Connect your device to your computer.
Step II: Open Apple Devices (or iTunes) and select your device.
Step III: Click on Summary and then select Back Up Now.
Step IV: To encrypt your backup, check the Encrypt backup box and set a password.
Turn Off iCloud Backup Notifications
If you've backed up manually, you can stop receiving iCloud backup notifications. Simply go to your iCloud settings and turn off iCloud Backup.
Keep those backups safe—and stay ahead of the curve.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/41061167/ios-18-includes-apples-new-passwords-app-with-end-to-end-encryption-heres-how-you-use-it" target="_blank" rel="noreferrer noopener">iOS 18 Includes Apple&#8217;s New Passwords App with End-to-End Encryption: Here&#8217;s How You Use It</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Apple

Tech

How To Safeguard Your Data Before Apple's Deadline: Step-By-Step Guide For Backing Up iOS 8 And Earlier Devices

Brightsolid, known for its top-tier data centers in Scotland, is one of the key UK-based partners that CloudFirst Europe has engaged with as part of its commitment to delivering secure, reliable, and redundant cloud solutions. These data centers meet Tier 3 standards, ensuring optimal levels of security, availability, and reliability. The partnership aligns both companies' strategic goals, as CloudFirst Europe brings a portfolio of complementary IBM cloud products and services that Brightsolid will now be able to offer its extensive client base.&nbsp;

DTST

Data Storage's, subsidiary CloudFirst Forms Strategic Alliance With Brightsolid To Broaden IBM Cloud Services In Scotland

<ul>
<li>Monthly active users ("MAUs") were 587 million in September 2024.</li>
<li>Average daily active users ("DAUs") were 257 million in September 2024.</li>
</ul>

Earnings

Weibo's Q3 Monthly Active Users Were 587M And Average Daily Active Users Were 257M In September 2024

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is back in the top five holdings of The Future Fund Active ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFND#NYSE">FFND</a>) as of Nov. 15, fund manager Gary Black said on Monday.
What Happened: Tesla is now the fifth top holding in the ETF after Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (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>), Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), and Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
The Future Fund has maintained Tesla as a significant holding since its 2021 launch, though the position has been adjusted from <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41870590/tesla-remains-core-for-gary-black-despite-price-cuts-earnings-drop-nvidia-google-eli-lilly-among-top-performers-in-tech-bulls-portfolio">12.2% in October 2022</a> to 4.11% as of Nov. 15.
Nvidia tops the charts, accounting for 9.29% of The Future Fund Active ETF&#8217;s net assets. Alphabet&#8217;s Class A stock stands at 7.81%, Salesforce at 4.85%, and Netflix at 4.56%.
<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">Future Fund holdings as of 11/15/2024 &#8211; <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> #1, <a href="https://twitter.com/search?q=%24NFLX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NFLX</a> #4, <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> #5. <a href="https://t.co/J4QcMffS65">pic.twitter.com/J4QcMffS65</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1858660971566202999?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;It's called sell discipline, and in the institutional world it's critical to getting assets. No institution will hire you as a manager if you like a stock at any price,&#8221; Black said.
&#8220;Second, when $TSLA pursues a pricing strategy that causes earnings to fall by 50% and TSLA stock to fall by 70% as happened in 2022-2023, wouldn't it be better to sell high and then buy back in after the drawdown?&#8221;
Why It Matters: Tesla resorted to price cuts in late 2022 to up their sales amid an EV demand slowdown and rising competition. The price cuts weighed heavily upon Tesla&#8217;s margins and Black started <a href="https://www.benzinga.com/24/04/38349246/should-have-sold-our-entire-tsla-position-says-fund-manager-following-ev-giants-coordinated-global-p">trimming his position.</a> The Tesla investor community subsequently alleged that he is <a href="https://www.benzinga.com/news/global/24/11/42028323/gary-black-defends-tesla-strategy-amid-clash-with-elon-musk-bulls-we-dont-trade-tesla-we-trim-when-the-price-goes-higher">engaging in short-term trading. </a>
&#8220;Those of us who are long time TSLA bulls, who know instinctively when the stock is oversold and conversely when sentiment is too exuberant, get run out of town quickly for voicing concerns — even when those concerns turn out later to be accurate (e.g. price cuts).&#8221;
In my world, it's ok to take profits when a stock is up 150% in 8 months,&#8221; Black explained in another post on X on Monday.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The problem with the <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> community is the toxicity directed at anyone who is not bullish enough. Those of us who are long time TSLA bulls, who know instinctively when the stock is oversold and conversely when sentiment is too exuberant, get run out of town quickly for voicing…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1858590128068821031?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: Tesla stock gained 5.6% on Monday to close at $338.74, but declined 1.35% in premarket trading on Tuesday. Year-to-date, the Tesla stock is up 36.4%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/space/24/11/42025066/elon-musks-spacex-delays-starship-test-flight-next-attempt-now-set-for-tuesday" target="_blank" rel="noreferrer noopener">Elon Musk's SpaceX Delays Starship Test Flight, Next Attempt Now Set For Tuesday</a></li>
</ul>
Photo courtesy: Shutterstock

Analyst Color

FFND

NFLX

NVDA

TSLA

Tesla Is Back In The Future Fund Active ETF's Top 5 Holdings

Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) reported quarterly earnings of $0.53 per share which beat the analyst consensus estimate of $0.44 by 20.45 percent. This is a 7.02 percent decrease over earnings of $0.57 per share from the same period last year. The company reported quarterly sales of $464.480 million which beat the analyst consensus estimate of $435.978 million by 6.54 percent. This is a 5.05 percent increase over sales of $442.151 million the same period last year.

Earnings Beats

Weibo Q3 2024 Adj. EPS $0.53 Beats $0.44 Estimate, Sales $464.480M Beat $435.978M Estimate

Nationwide Partners With HPE GreenLake To Future-Proof IT Operations And Accelerate Cloud-Driven Digital Innovation

Elbit Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>) reported quarterly earnings of $2.21 per share which beat the analyst consensus estimate of $1.86 by 18.82 percent. The company reported quarterly sales of $1.718 billion which beat the analyst consensus estimate of $1.608 billion by 6.81 percent. This is a 14.38 percent increase over sales of $1.502 billion the same period last year.

ESLT

Elbit Systems Q3 2024 Adj. EPS $2.21 Beats $1.86 Estimate, Sales $1.718B Beat $1.608B Estimate

Business Outlook
For the fourth quarter of 2024, the Company expects:
<ul>
<li>Deliveries of vehicles to be between 87,000 and 91,000, representing a year-over-year increase of approximately 44.6% to 51.3%. &nbsp;</li>
<li>Total revenues to be between RMB15.3 billion and RMB16.2 billion, representing a year-over-year increase of approximately 17.2% to 24.1%. &nbsp;</li>
</ul>

Guidance

XPEV

XPeng Expects Q4 Vehicle Deliveries Of 87K-91K, Up By 44.6%-51.3% YoY, Revenue Of RMB15.3B-RMB16.2B Vs RMB14.77B Est

Total deliveries of vehicles were 46,533 for the third quarter of 2024, representing an increase of 16.3% from 40,008 in the corresponding period of 2023. &nbsp;

XPeng's Q3 Deliveries Of Vehicles Grew 16.3% YoY To 46,533

XPeng Q3 Adj EPADS $(0.23) Beats $(0.27) Estimate, Sales $1.44B Beat $1.38B Estimate

Nippon Steel (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>) executives have traveled to Pennsylvania to garner support for their $15 billion acquisition bid for U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>). The Japanese steel giant is encountering political resistance in Washington.
What Happened: Takahiro Mori, vice-chair of Nippon Steel, arrived in Pittsburgh on Saturday to advocate for the acquisition. The deal faces opposition from both President Joe Biden and President-elect Donald Trump, who prefer U.S. Steel to remain under American ownership, the Financial Times <a href="https://www.ft.com/content/c0549c37-142f-462a-ae2b-55215ea77419">reported</a> on Tuesday.
Despite these political challenges, Nippon Steel is seeking regulatory approval post-election. Mori is scheduled to meet with government officials in Washington later this week.
Mori is also <a href="https://www.benzinga.com/markets/equities/24/09/41045029/amid-nippon-us-steel-debacle-kamala-harris-stresses-importance-of-us-steel-production-even-if-it">engaging with U.S. Steel workers</a> this week, particularly those in the United Steelworkers union. Some union members have expressed support for the deal, differing from USW president David McCall, who opposes Nippon&#8217;s ownership.
See Also: <a href="https://www.benzinga.com/24/11/42029943/dow-tumbles-over-300-points-following-economic-reports-investor-sentiment-declines-fear-greed-index-moves-to-neutral-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dow Tumbles Over 300 Points Following Economic Reports, Nvidia, Microsoft Decline: Fear &amp; Greed Index Moves To &#8216;Neutral&#8217; Zone</a>
Nippon Steel has committed to investing nearly $3 billion in U.S. facilities. The Committee on Foreign Investment in the U.S. has granted Nippon a 90-day extension to address national security concerns, with a final decision anticipated by the end of the year.
Why It Matters: The acquisition of U.S. Steel by Nippon Steel has been a contentious issue, with significant political and economic implications. Nippon Steel <a href="https://www.benzinga.com/m-a/24/11/41806893/nippon-steel-remains-confident-in-14b-us-steel-deal-despite-trumps-resistance-there-can-be-construct">remains optimistic about finalizing</a> the deal by year-end, despite facing opposition from the Biden administration and President-elect Trump, who plans to block the acquisition.
The deal is seen as a potential boost for the U.S. economy by creating jobs and increasing competitiveness against China&#8217;s steel industry. However, the United Steelworkers union opposes the deal, citing job security concerns for its members.
In October, U.S. Steel reported<a href="https://www.benzinga.com/news/earnings/24/10/41665667/us-steel-reports-better-than-expected-q3-results-aims-to-close-nippon-steel-deal-by-year-end"> better-than-expected third-quarter results</a>, with earnings of 56 cents per share, surpassing analyst expectations. The company expressed its intention to close the deal with Nippon Steel by the end of the year.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42022100/trump-media-faces-investor-exodus-as-arc-global-slashes-stake-to-nearly-zero-after-court-ruling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Major Investor In Trump Media Offloads Most Of Its Stake In DJT Stock</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image by Poetra.RH via Shutterstock

NISTF

Nippon Steel Execs Rally Support in Pennsylvania Amid Pushback On US Steel Takeover

The <a href="https://www.benzinga.com/markets/equities/24/10/41551461/nvidia-overtakes-apple-as-worlds-most-valuable-company-again">world&#8217;s largest market capitalization</a> company, Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), will report its September quarter earnings on Wednesday, Nov. 20. The street is keenly waiting for the company to report its financials as its shares have risen 191% year-to-date but declined by 2.5% over the last month.
On a year-to-date basis, Nvidia has outperformed the Nasdaq 100 Index, which grew by 24%, whereas, the technology company has underperformed the index in the last month, following Nasdaq 100&#8217;s growth of 0.87%.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025332/Nvidia-Benzinga-1024x576.png" alt="" class="wp-image-654350" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025332/Nvidia-Benzinga-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025332/Nvidia-Benzinga-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025332/Nvidia-Benzinga-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025332/Nvidia-Benzinga-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025332/Nvidia-Benzinga.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
What Happened: While many analysts expect good results from the chipmaker, technical analyst, and chief investment officer at NeoTrader, Dr C.K. Narayan says that &#8220;the trend is resolute in Nvidia charts.&#8221; He expects the stock to trade upwards of $140 per share if the third-quarter financials beat the street expectations.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/NVDA?src=hash&amp;ref_src=twsrc%5Etfw">#NVDA</a> Tomorrow is big day as NVDA reports. The trend is resolute in NVDA no doubt, but I espy some supply emerging at 140+ levels in the stock. So, good numbers will have to beat Street expectations for the trend to continue. Depends on what is baked in already. <a href="https://t.co/vQDcoIGQ2F">pic.twitter.com/vQDcoIGQ2F</a>
&mdash; Dr.C.K.Narayan (@CK_Narayan) <a href="https://twitter.com/CK_Narayan/status/1858743810131370012?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
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Earnings Expectations
Nvidia, led by <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41883803/nvidias-blackwell-chip-revenue-could-hit-6-billion-next-quarter-analyst">Jensen Huang</a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41883803/nvidias-blackwell-chip-revenue-could-hit-6-billion-next-quarter-analyst"> has forecasted</a> third-quarter revenue of approximately $32.5 billion, driven by strong demand for its Hopper and Blackwell GPUs.
These GPUs are expected to bolster Nvidia's data center segment. The Blackwell units, priced between $30,000 and $40,000, are in high demand, with production ramping up in the fourth quarter of 2024.
Nvidia is fully supply-constrained on new products, which could limit the potential upside for the current quarter and the company&#8217;s outlook, said Joseph Moore, a Morgan Stanley analyst. Morgan Stanley maintains Nvidia as a top pick with an &#8216;overweight&#8217; rating, raising the price target from $150 to $160.
Also read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41883803/nvidias-blackwell-chip-revenue-could-hit-6-billion-next-quarter-analyst">Nvidia&#8217;s Blackwell Chip Revenue Could Hit $6 Billion Next Quarter: Analyst</a>
Historical Nvidia Earnings Data
According to a recent <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42048963/why-nvidia-earnings-may-trigger-massive-sp-500-volatility">Benzinga report</a> and <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data over the last 12 quarters, Nvidia has exceeded earnings-per-share (EPS) expectations 10 times and missed revenue expectations only once.
On average, Nvidia shares moved 5.3% in the single trading day following its earnings release.
The largest 1-day gain followed its first quarter 2024 earnings, when the stock surged 24.4%, while the worst reaction occurred after fourth quarter 2024 results, with a decline of 7.6%.
Here&#8217;s a snapshot of the company&#8217;s recent earnings performance:
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="864" height="498" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025006/benz-pro-data.png" alt="" class="wp-image-654348" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025006/benz-pro-data.png 864w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025006/benz-pro-data-300x173.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19025006/benz-pro-data-768x443.png 768w" sizes="(max-width: 864px) 100vw, 864px" /></figure>
Read next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42048963/why-nvidia-earnings-may-trigger-massive-sp-500-volatility">Why Nvidia Earnings May Trigger Massive S&amp;P 500 Volatility</a>
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Nvidia Shares To Climb Over $140+ Levels, Says Technical Analyst Ahead Of Q3 Results: '...Will Have To Beat Street Expectations For The Trend To Continue'

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