Latest news for Invesco S&P 500 GARP ETF (ARCA:SPGP)

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The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index. The underlying Index is designed to track the performance of approximately 75 growth stocks in the S&P 500 Index with relatively high quality and value composite scores, which are computed as described below.

Valero Energy Corp.

Eog Resources Inc

Nvidia Corp Nvda

Marathon Petroleum Corp.

Conocophillips

Steel Dynamics Inc Sedol 2849472

Arista Networks Inc.

Marathon Oil Corp.

TJX Companies Inc., The

Delta Air Lines Inc.

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The Invesco S&amp;P 500 GARP ETF (ARCA:SPGP) was launched on 06/17/2011, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Growth segment of the US equity market.

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Simon Property Group, Inc. Simon Property Group 8 3/8% Series J Cumulative Redeemable Preferred Stock

Simon Property Group Inc

Prominent Chinese electric vehicle manufacturer BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) is planning to penetrate the Canadian automotive market, according to a regulatory filing submitted earlier in July, Reuters writes.
This move is amidst discussions by Canadian authorities about potentially imposing tariffs on Chinese-imported vehicles.
Canada is contemplating following the United States and the <a target="_blank" href="https://www.benzinga.com/news/24/07/39635158/eu-imposes-provisional-duties-of-as-much-as-37-6-on-chinese-ev-imports" rel="noreferrer noopener">European Union in levying tariffs on Chinese electric vehicles</a>.
This strategy aims to counter what the West perceives as China&#8217;s excessive subsidies to its EV industry.
In June, Canadian officials announced a month-long public consultation period, starting July 2, to evaluate the country&#8217;s response., reported Reuters.
The Ottawa public consultation event highlighted &#8220;China&#8217;s unfair support for the EV sector, if left unchecked, could lead to an exponential surge of imports that will adversely affect planned EV investments and the transformation of Canada&#8217;s automotive sector.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39933356/byd-poised-to-surpass-tesla-in-ev-sales-as-us-and-europe-demand-wanes" rel="noreferrer noopener">BYD Poised To Surpass Tesla In EV Sales As US And Europe Demand Wanes</a>
BYD Canada representatives&#8217; meetings with government officials have not been precisely dated in the document.
Although the filing did not outline a specific timeline for BYD&#8217;s Canadian market plans, it did address the potential tariffs on EVs and the company&#8217;s intentions to introduce passenger electric vehicles in Canada.
In May, BYD launched the Shark, a mid-size hybrid-electric pickup truck, in Mexico. Despite the new U.S. tariffs on Chinese EVs, BYD&#8217;s regional chief emphasized that the company is not targeting the U.S. market.
BYD shipped nearly 1 million electric and hybrid cars in the second quarter, <a target="_blank" href="https://www.benzinga.com/news/24/07/39592293/tesla-rival-byds-ev-sales-jump-21-in-q2-details" rel="noreferrer noopener">driven by aggressive discounts in China</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39966645/byd-to-supply-120-electric-buses-to-south-africas-golden-arrow" target="_blank" rel="noreferrer noopener">BYD To Supply 120 Electric Buses To South Africa&#8217;s Golden Arrow</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Tech

General

BYDDY

Tesla Rival BYD Eyes Canadian Market In Wake Of Tariff Considerations

B of A Securities analyst Omar Dessouky maintains Electronic Arts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) with a Buy and raises the price target from $150 to $170.

Price Target

B of A Securities Maintains Buy on Electronic Arts, Raises Price Target to $170

Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) generated headlines in the pre-market hours as the company revealed its much-awaited second-quarter earnings report. Ahead of the disclosure, SPOT stock suffered from a<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39892706/can-spotify-q2-earnings-tune-out-bearish-signals-for-a-bullish-upside"> strongly bearish trend</a> despite an implied robust upside based on analysts' price targets. Therefore, the Q2 print represented an opportunity for the audio streaming service to respond.
The results were exactly what the company needed. Spotify generated earnings of 274 million euros or about $298 million. The bottom-line print was equivalent to 1.33 euros per share, beating the analysts' consensus view of 1.05 euros per share. On the top line, sales hit 3.8 billion euros, which was in line with expectations.
Among the key highlights was growth in monthly active users (MAUs) reaching 14% to 626 million users. While this rally slightly missed the guidance of 631 million, it should be noted that premium subscribers saw a year-over-year increase of 12% to 246 million. This performance beat the consensus estimate by 1 million. Also, advertisement-supported revenue saw a lift of 13% to 456 million euros. The business expansion stemmed from music streaming and podcasts.
On Monday, SPOT stock finished the session at $295.45, up slightly from Friday's close. However, during Tuesday's pre-market session, Spotify shares reached $336, representing growth of nearly 14%.
The MUSQ ETF: While Spotify constitutes a major component of the wider audio-content industry, it's not the only player in town. Several other entities – including YouTube Music under Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), which will<a href="https://www.benzinga.com/news/earnings/24/07/39898676/tesla-alphabet-and-3-stocks-to-watch-heading-into-tuesday"> soon release its quarterly report</a> – offer viable exposure. However, it's difficult for retail investors to acquire multiple securities in the ecosystem, which is where the MUSQ Global Music Industry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSQ#NYSE">MUSQ</a>) comes into play.
As Benzinga noted earlier this year, the<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37878863/thematic-music-etf-musq-prepares-to-strike-a-chord-as-indicators-point-to-upbeat-momentu"> thematic exchange-traded fund</a> "provides <a href="https://musqetf.com/about">concentrated exposure to the complete music ecosystem</a>, covering streaming, content and distribution, live music events and ticketing, satellite and broadcast radio, equipment and technology, and artificial intelligence. The fund holds multiple stocks that encompass the variety of companies and technologies the music industry is dependent upon."
Currently, the only broad-based pure-play ETF covering the global music industry, the key advantage of the <a href="https://www.musqetf.com/">MUSQ fund</a> is diversification. While Spotify is one of the top holdings of the ETF, it's not the only position. Indeed, SPOT stock represents 3.88% of MUSQ's net assets. Alphabet stock comprises a higher portion of the holdings at 5.8%.
Additionally, MUSQ brings other core components of the music industry to investors in a convenient package, including the content realm – via names like Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) – and in-person performance, particularly through Live Nation Entertainment Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>).
Therefore, no one entity can determine the entire trajectory of MUSQ, affording investors the benefit of market risk distribution.
The MUSQ Chart: On Monday, the MUSQ ETF finished the session at $24.52, gaining nearly 1% against Friday's close. The fund appears to have hit a near-term bottom on June 24, steadily gaining sentiment since that session.
<ul>
<li>Given Tuesday's blistering pre-market performance of SPOT stock, it's possible that MUSQ may see a noticeable bump higher.</li>
<li>While the ETF has been trading lower between the end of December to the June 24 trough, the fund's trajectory appears to be rounding out.</li>
<li>A U-shaped recovery could be in play, especially given Spotify's strong quarterly results.</li>
<li>Encouragingly, MUSQ trades above both its 50-day and 200-day moving averages, which serve as common barometers of market health.</li>
</ul>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfsuhvqqjinm4DWGHrzrk-06r6-r6qYWFhDp-C8C8L1aavF7A2OLJfr33vsVBvxu8UhYlWnsKuWXC6E6SvH-KaqjkPY24kWkZ6V-AJO9tnR2bfW7RkVgR6fEn6TzZ7XiNcfE7ECzLg-zrQja7Ko0YKyXxw?key=aGmwvuj7X1vmuZQYKwcscg" alt="" /></figure>
Featured photo by <a href="https://pixabay.com/users/javierdumont-14443229/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4722544">javier dumont</a> from <a href="https://pixabay.com//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4722544">Pixabay</a>.

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Tune Into Potential Profits With The Sector Pure-Play MUSQ Global Music Industry ETF (MUSQ)

Benchmark analyst Christopher Kuhn reiterates Landstar System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSTR#NASDAQ">LSTR</a>) with a Hold.

Reiteration

LSTR

Benchmark Reiterates Hold on Landstar System

SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) shares are trading higher Wednesday after the company on Tuesday posted strong <a href="https://www.benzinga.com/pressreleases/24/07/b40032979/sofi-technologies-reports-net-revenue-of-599-million-and-net-income-of-17-million-for-q2-2024-mark">second-quarter results on Tuesday. </a>
The Details:
SoFi reported earnings of 1 cent per share, inline with the consensus estimate, and quarterly sales of $599 million beat the Street's estimate for the second quarter.&nbsp;
SoFi's revenue increased 22.54% year-over-year, and total members rose 41% from the prior year period.
&#8220;We had an exceptional second quarter. Our relentless focus on product innovation and member growth across our portfolio of businesses not only drove strong results today, but we expect that they&#8217;ll fuel financial growth for years to come. Our one-stop shop strategy continues to deliver strong, diversified growth and profitability, despite macroeconomic volatility,&#8221; commented Anthony Noto, CEO of SoFi Technologies.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/07/40051107/first-solar-reports-strong-q2-results-eps-beat-sales-up-24">First Solar Reports Strong Q2 Results: EPS Beat, Sales Up 24%</a>
SoFi expects third-quarter adjusted net revenue above estimates and raised its full-year revenue guidance. Needham analyst Kyle Peterson reiterated a Buy rating and $10 price target <a href="https://www.benzinga.com/quote/SOFI/analyst-ratings">on the stock</a> following the print.&nbsp;
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi shares are trading above the stock&#8217;s 50-day moving average of $6.90 and 10.1% of shares are being sold short.&nbsp;
<h2 class="wp-block-heading">Will SOFI Stock Go Up?</h2>
When trying to assess whether or not SoFi Technologies will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $8.75 on SoFi. The Street high target is currently at $10 and the Street low target is $7. Of all the analysts covering SoFi Technologies, 2 have positive ratings, 2 have neutral ratings and no one has negative ratings.
In the last month, 4 analysts have adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/SOFI/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering SoFi Technologies have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. SoFi Technologies is 21.81% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about SoFi, visit <a href="https://www.benzinga.com/quote/SOFI">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
SOFI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi Technologies shares are up 3.91% at $7.71 at the time of publication Wednesday.
Read Also:
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48">Match Group Stock Climbs On Strong Q2 Results, Hinge Revenue Up 48%</a></li>
</ul>
Image: Shutterstock

Movers

SOFI

What's Going On With SoFi Stock After Earnings?

Piper Sandler analyst Arvind Ramnani upgrades Dayforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAY#NYSE">DAY</a>) from Neutral to Overweight and raises the price target from $68 to $71.

Upgrades

Piper Sandler Upgrades Dayforce to Overweight, Raises Price Target to $71

Former United States President Donald Trump has launched a line of limited-edition Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-themed sneakers following his <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40070328/trump-raises-25m-at-bitcoin-conference-in-nashville-second-highest-fundraiser-across-campa">keynote address at the Bitcoin 2024 conference. </a>
What Happened: This development marks a significant shift in the intersection of political campaigning and digital asset promotion, The Block <a href="https://www.theblock.co/post/308565/donald-trump-selling-bitcoin-sneakers-after-keynote-speech-at-bitcoin-2024?utm_source=rss&amp;utm_medium=rss">reported</a>.
Trump, the Republican candidate for the upcoming presidential election, delivered a speech at the conference on Saturday, where he made bold promises regarding cryptocurrency policy should he be re-elected. 
These included pledges <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40018935/trumps-bitcoin-conference-pledge-can-he-really-fire-sec-chair-gensler">to dismiss</a> the current Securities and Exchange Commission (SEC) Chairman, Gary Gensler, and to halt the United States&#8217; Bitcoin sales in favor of establishing a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39975390/trumps-bitcoin-support-a-political-no-brainer-to-garner-votes-says-peter-schiff-promise-to">strategic Bitcoin reserve.</a>&#8220;
Following the conference, the former president took to his social media platform, Truth Social, to announce the release of the Bitcoin sneakers. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40071441/inflated-solana-metrics-mean-its-overvalued-compared-to-ethereum-report-claims">Inflated Solana Metrics Mean It&#8217;s &#8216;Overvalued&#8217; Compared To Ethereum, Report Claims</a>
&#8220;These are Limited Edition, they are each numbered, and you can now pay with Bitcoin or your favorite Crypto,&#8221; Trump stated in his post, directly linking the product launch to his conference appearance.
This latest venture into cryptocurrency-related merchandise follows Trump&#8217;s previous forays into the digital asset space, including his campaign&#8217;s acceptance of <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38952866/trump-accepts-cryptocurrency-donations-in-bitcoin-ethereum-shiba-inu-dogecoin-and-more-say">political donations</a> in various cryptocurrencies and <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35100775/donald-trumps-second-nft-sales-skyrocket-350-amid-buzz-surrounding-ex-president-becoming-h">his association</a> with non-fungible token (NFT) collections featuring his likeness.
The timing of this announcement is particularly noteworthy as it precedes Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event scheduled for Nov. 19.
Read Next:
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<li><a style="font-weight: bold;" href="https://www.benzinga.com/markets/cryptocurrency/24/07/40066426/sec-charges-bitclout-founder-with-257m-crypto-fraud-scheme">SEC Charges BitClout Founder With $257M Crypto Fraud Scheme</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

Trump Launches Limited Edition Bitcoin-Themed Sneakers Following Bitcoin 2024 Keynote: Report

<a href="https://www.youtube.com/watch?v=ceWX6dbED6w" title="https://www.youtube.com/watch?v=ceWX6dbED6w">https://www.youtube.com/watch?v=ceWX6dbED6w</a>

Macro Notification

iShares MSCI Israel Capped Investable Market Index Fund

US Confident It Can Still Communicate With Hamas, Says State Dept.; State Department Spokesman Vedant Patel Briefs Reporters

Benchmark analyst Mark Miller reiterates Advanced Energy Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEIS#NASDAQ">AEIS</a>) with a Buy and maintains $117 price target.

AEIS

Benchmark Reiterates Buy on Advanced Energy Indus, Maintains $117 Price Target

Benchmark analyst Mark Miller downgrades IPG Photonics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPGP#NASDAQ">IPGP</a>) from Buy to Hold.

Downgrades

IPGP

Benchmark Downgrades IPG Photonics to Hold

Benchmark analyst Fawne Jiang maintains iQIYI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>) with a Buy and lowers the price target from $9 to $5.

Benchmark Maintains Buy on iQIYI, Lowers Price Target to $5

QUALCOMM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) shares, along with other chip-related stocks, are moving higher Wednesday in sympathy with Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) which reported better-than-expected 2024 fiscal year second quarter <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40069119/can-amd-stock-hit-180-ai-growth-fuels-data-center-dominance-over-intel">earnings on Tuesday</a>.
What Happened: AMD reported EPS of 69 cents beating analyst estimates of 68 cents and revenue of $5.83 billion beating analyst estimates of $5.72 billion.
Revenue from AMD&#8217;s data center segment was $2.8 billion, a record high that represents a 115% year-over-year growth.
AMD sees third quarter revenue between $6.4 billion and $7 billion versus analyst estimates of $6.61 billion.
QUALCOMM is set to release its third quarter fiscal earnings on Wednesday after the market closes. Analyst estimates EPS of $2.25 and revenue of $9.21 billion.
What Else: Some stocks in the chip sector might be <a href="https://www.benzinga.com/markets/equities/24/07/40075799/semiconductor-stocks-set-for-strongest-day-in-5-months-as-chip-export-concerns-subside-top-wedne">climbing </a>as a result of recent reports regarding a new Biden administration rule on foreign chip <a href="https://www.benzinga.com/news/24/07/40073760/why-asml-stock-is-climbing-today">equipment exports to China</a>. According to Reuters, the new rule would expand U.S. authority to block the export of semiconductor manufacturing tools from some foreign nations to Chinese chipmakers.
Chinese foreign ministry spokesperson Lin Jian told Reuters that efforts by the U.S. to &#8220;coerce other countries into suppressing China&#8217;s semiconductor industry&#8221; undermines global trade and hurts all parties.
The spokesperson also stated, &#8220;Containment and suppression cannot stop China&#8217;s development, but will only enhance China&#8217;s determination and ability to develop its scientific and technological self-reliance.&#8221;
Certain countries may be exempt from the rule, including Japan, the Netherlands and South Korea. The Biden administration is anticipated to release the rule next month.
Related Link: <a href="https://www.benzinga.com/news/24/07/40070716/meta-slammed-for-reportedly-profiting-from-ads-promoting-illegal-drugs">Meta Slammed For Reportedly Profiting From Ads Promoting Illegal Drugs</a>
QCOM Price Action: At the time of publication, QUALCOMM shares are trading 5.24% higher at $175.69 per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shuttershock

QCOM

What's Going On With QUALCOMM Shares Wednesday?

The performance of Microsoft Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Azure cloud segment and future artificial intelligence initiatives are keys to the stock for analysts after <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">fourth-quarter financial results.</a>
While Azure and AI got the headlines, one analyst was surprised by the lack of color on the impact the Microsoft Outage caused by a CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) update could have in the future. 
<h3 class="wp-block-heading">The Microsoft Analysts</h3>
<ul>
<li>Goldman Sachs analyst Kash Rangan reiterated a Buy rating and $515 price target.</li>
<li>Oppenheimer analyst Timothy Horan reiterated an Outperform rating and $500 price target.</li>
<li>Stifel analyst Brad Reback reiterated a Buy rating and $475 price target.</li>
<li>BMO Capital analyst Keith Bachman reiterated an Outperform rating and $500 price target.</li>
<li>Truist analyst Joel Fishbein reiterated a Buy rating and $600 price target.</li>
<li>JPMorgan analyst Mark Murphy reiterated an Overweight rating and $470 price target.</li>
<li>KeyBanc analyst Jackson Ader reiterated an Overweight rating and $490 price target.</li>
<li>Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and $485 price target.</li>
</ul>
Goldman Sachs: Strong early demand signal for Microsoft products justifies a ramp of spending, Rangan said.
Microsoft Azure's lower-than-expected growth, higher CapEx and soft guidance are less in focus Wednesday. The company's earnings call showed guidance for Azure in the first half of the next fiscal year and optimism for generative AI products.
"The anticipated uptick in CapEx is unlikely to sway MSFT away from its consistent Op Inc growth target, though may come at the expense of FCF growth more than we initially thought," Rangan said.
The analyst said Microsoft can capitalize on "a number of long-term secular trends" including generative AI, cloud consumption and digital transformation.
Read Also: <a href="https://www.benzinga.com/news/24/07/40061358/satya-nadella-says-microsofts-copilot-drives-40-of-githubs-revenue-growth-we-are-also-enabling-anyon">Satya Nadella Says Microsoft&#8217;s Copilot Drives 40% Of GitHub&#8217;s Revenue Growth: We Are Also &#8216;Enabling Anyone To Use Natural Language To Create Apps…&#8217;</a>
Oppenheimer: Weaker than expected Azure revenue in the fourth quarter could have been due to supply constraints, Horan said.
"Azure saw pushout in revenue on some supply constraints, but also as enterprises curate their data," Horan said.
The analyst said Microsoft can revisit its "PC-era-type dominance" with AI for enterprises.
Horan said capex spending will remain elevated to support future demand for AI and cloud offerings.
"The company remained very optimistic about AI demand and Copilot in particular," Horan said.
Azure AI ended the quarter with over 60,000 users, up 60% year-over-year. The company also reported that average spending per Azure AI customer is growing.
Stifel: Shares selling off after-hours is "short-term noise," Reback said in a new investor note.
The analyst said investors should focus on the "longer-term acceleration" for Microsoft.
"While the supply constraints and European consumption weakness create some near-term uncertainty, we believe the commercial bookings growth points to sustained revenue gains/free cash flow growth for years to come," Reback said.
BMO Capital: There were a few positives in the fourth quarter including free cash flow generation and upside for the Productivity and Business Processes, and More Personal Computing business segments, Bachman said.
Bachman said Microsoft missing on Azure guidance was the key takeaway and guidance for the future could also be viewed as disappointing for investors.
"Management noted that Azure growth will accelerate in 2HFY25, helped by reduced capacity constraints, which we think will be well-received by investors," Bachman said.
Microsoft's Azure business had beat estimates in the last three quarters and hadn't missed since the September 2022 quarter, the analyst added.
"We think Azure has a solid pipeline and note that AI still has a long runway ahead."
Truist: Capacity constraints in AI and weakness in Europe led to lower Azure growth, Fishbein said.
The analyst said demand signals remain strong for Microsoft going forward and non-Azure items saw strong performance in the quarter.
"There were many positive demand indicators for their family of Copilot products and AI services that management highlighted on the call spurring their continued path of increased capital and knowledge investments," Fishbein said.
Microsoft is "leveraging their AI footprint" for their portfolio of products, the analyst added.
"We continue to believe that we are in the very early innings of the rollout of generative AI apps."
Fishbein was surprised that Microsoft didn't provide more commentary on the outage caused by CrowdStrike.
"Ramification from global IT outage caused by CrowdStrike remains to be seen."
The analyst said there could be future settlements and discounts to customers.
JPMorgan: Lower Azure revenue growth may have been expected ahead of earnings Murphy said.
The analyst said survey research shows that Azure product momentum ratings had dropped before the quarterly results.
"We don't think investors were prepared to see Azure deceleration at this juncture because of the perceived improvement in optimizations and cloud migrations," Murphy said.
The analyst said the long-term growth for Azure and AI is clear.
"We believe Microsoft's AI momentum remains intact and long-term trajectory unperturbed."
Microsoft is in the "pole position" for the mega-trend of AI, the analyst added.
KeyBanc: Azure revenue, higher capex and a lack of acceleration for Office 365 Commercial revenue were three disappointments in the fourth quarter for Ader.
"Azure remains capacity-constrained on the AI front, which gives that line item some wiggle room as we wait for the expected acceleration in the second half of the year," Ader said.
The analyst said there is a level of trust for investors with Microsoft stock.
"Trust that AI will deliver on its promises, trust that assets aren't as fixed as they seem, trust that management would be willing to adapt under changing facts."
Piper Sandler: Record bookings in the fourth quarter could be greater than the disappointing Azure consumption, Bracelin said in a new investor note.
"The 3% AMC (after market close) sell-off in MSFT shares on Azure growth moderating slightly to 30% CC (constant currency) coupled with a $19B capex+lease investment shows the hypersensitivity to an AI overbuild narrative," Bracelin said.
The analyst said Microsoft had many positives in the quarter including record bookings of $10 million and $100 million in size, strong operating cash flow, AI demand ahead of capacity, and capex being used on "long-life assets" for future growth.
"We would be buyers on the weakness in MSFT."
MSFT Price Action: Microsoft shares are down 2% to $416.31 on Wednesday versus a 52-week trading range of $309.45 to $468.35.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/40060524/microsoft-to-offer-one-time-cash-reward-to-employees-worth-up-to-25-of-their-bonus-after-q4-earn">Microsoft To Offer One-Time Cash Reward To Employees Worth Up To 25% Of Their Bonus, After Q4 Earnings Beat Estimates: Report</a></li>
</ul>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Microsoft Q4 2024 Earnings Call &#x7C; $MSFT" width="500" height="281" src="https://www.youtube.com/embed/Cb_WyMkkhBQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>

Analyst Color

CRWD

MSFT

Microsoft Stock Slide From Azure Weakness Brushed Off By Analysts: 'Azure Has Solid Pipeline, AI Has Long Runaway Ahead'

Benchmark analyst Bill Sutherland reiterates Huron Consulting Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HURN#NASDAQ">HURN</a>) with a Buy and maintains $140 price target.

HURN

Benchmark Reiterates Buy on Huron Consulting Gr, Maintains $140 Price Target

eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) will release its second quarter financial results, after the <a href="https://www.benzinga.com/quote/EBAY/earnings">closing bell on Wednesday, July 31</a>.
Analysts expect the San Jose, California-based company to report quarterly earnings at $1.13 per share, up from $1.03 per share in the year-ago period. Starbucks expects to post revenue of $2.53 billion, compared to $2.51 billion a year ago, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On May 1, eBay posted better-than-expected first-quarter results.
eBay shares gained 1.5% to close at $55.40 on Tuesday.
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/EBAY/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/596f57cb35f48b00011db3ec/deepak-mathivanan">Wolfe Research analyst Deepak Mathivanan</a> initiated coverage on the stock with a Peer Perform rating on July 16. This analyst has an accuracy rate of 80%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/591479b8290fa7000138e4b4/doug-anmuth">JP Morgan analyst Doug Anmuth</a> reinstated a Neutral rating with a price target of $60 on June 25. This analyst has an accuracy rate of 84%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58d3cdb7b85e930001808a59/daniel-kurnos">Benchmark analyst Daniel Kurnos</a> reiterated a Buy rating with a price target of $58 on June 17. This analyst has an accuracy rate of 73%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58933b2143eaaa0001698f52/colin-sebastian">Baird analyst Colin Sebastian</a> maintained an Outperform rating and raised the price target from $57 to $58 on June 17. This analyst has an accuracy rate of 77%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58bd551cb85e930001592b02/youssef-squali">Truist Securities analyst Youssef Squali</a> maintained a Hold rating and boosted the price target from $48 to $50 on May 6. This analyst has an accuracy rate of 80%.</li>
</ul>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40039797/top-3-health-care-stocks-you-may-want-to-dump-this-quarter">Top 3 Health Care Stocks You May Want To Dump This Quarter</a></li>
</ul>

EBAY

eBay Likely To Report Higher Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Benchmark analyst Mike Hickey maintains Electronic Arts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) with a Buy and raises the price target from $153 to $163.

Benchmark Maintains Buy on Electronic Arts, Raises Price Target to $163

U.S. stocks were higher, with the Dow Jones index gaining over 200 points on Wednesday.
Shares of Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) surged 15% to $38.74 after the company reported better-than-expected second-quarter revenue results and issued str<a href="https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48">ong third-quarter revenue guidance</a>.
Match Group reported quarterly earnings of 48 cents per share, in-line with the analyst consensus estimate. Quarterly sales clocked in at $864 million which beat the analyst consensus estimate of $856.4 million and is a 4.15% increase from the same period last year.
Match Group surged 15% to $38.74 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) jumped 33.2% to $177.43 after the company reported better-than-expected Q3 GAAP EPS and sales.</li>
<li>Stardust Power Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDST#NASDAQ">SDST</a>) shares surged 23.9% to $14.65.</li>
<li>Modine Manufacturing Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) surged 20.2% to $118.85 after the company reported better-than-expected&nbsp;first-quarter&nbsp;financial results.</li>
<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) surged 19.6% to $21.01.</li>
<li>Fiverr International Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) jumped 18.5% to $25.94 after the company reported better-than-expected second-quarter financial results.</li>
<li>Parsons Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSN#NYSE">PSN</a>) gained 16.4% to $89.82 after the company reported better-than-expected second-quarter financial results and raised its FY24 revenue guidance above estimates.</li>
<li>Talen Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLN#NYSE">TLN</a>) rose 13.6% to $125.98.</li>
<li>The Scotts Miracle-Gro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) jumped 12.7% to $79.17 following better-than-expected quarterly financial results.</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) gained 12.6% to $41.56 following second-quarter earnings.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) jumped 11.1% to $187.41.</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained 11% to $115.04.</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) rose 8.8% to $338.70 as the company reported better-than-expected second-quarter financial results and raised its third-quarter revenue guidance.</li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) gained 8.7% to $17.84 after the company reported better-than-expected quarterly financial results and issued FY24 guidance.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: &#8216;I Would Pick Some Up Tomorrow&#8217;</a></li>
</ul>

Intraday Update

ANET

FVRR

MTCH

NVDA

POWL

SAVA

SDST

TEVA

Match Group Posts Upbeat Sales, Joins Modine Manufacturing, Scotts Miracle-Gro, NVIDIA  And Other Big Stocks Moving Higher On Wednesday

Designed to provide broad exposure to the Small Cap Growth segment of the US equity market, the iShares Morningstar Small-Cap Growth ETF (ARCA:ISCG) is a passively managed exchange traded fund launched on 06/28/2004.
The fund is sponsored by Blackrock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>). It has amassed assets over $583.77 million, making it one of the average sized ETFs attempting to match the Small Cap Growth segment of the US equity market.
<h2>Why Small Cap Growth</h2>
With more potential comes more risk, and small cap companies, with market capitalization below $2 billion, epitomizes this way of thinking.
Growth stocks have higher than average sales and earnings growth rates. While these are expected to grow faster than the broader market, they also have higher valuations. Also, growth stocks are a type of equity that carries more risk compared to others. When you consider growth versus value, growth stocks are usually the clear winner in strong bull markets but tend to fall flat in nearly all other environments.
<h2>Costs</h2>
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.06%, making it the least expensive products in the space.
It has a 12-month trailing dividend yield of 0.63%.
<h2>Sector Exposure and Top Holdings</h2>
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund&#39;s holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Industrials sector--about 23.10% of the portfolio. Healthcare and Information Technology round out the top three.
Looking at individual holdings, Microstrategy Inc Class A&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) accounts for about 1.09% of total assets, followed by Natera Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntra#NASDAQ">NTRA</a>) and Texas Roadhouse Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/txrh#NASDAQ">TXRH</a>).
The top 10 holdings account for about 5.93% of total assets under management.
<h2>Performance and Risk</h2>
ISCG seeks to match the performance of the MORNINGSTAR US SML CP BRD GRWTH EXTD ID before fees and expenses. The Morningstar US Small Cap Broad Growth Extended Index comprises of small-capitalization U.S. equities that exhibit growth characteristics.
The ETF has gained about 9.02% so far this year and is up about 12.33% in the last one year (as of 07/31/2024). In the past 52-week period, it has traded between $35.43 and $48.99.
The ETF has a beta of 1.08 and standard deviation of 23.73% for the trailing three-year period. With about 1000 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
IShares Morningstar Small-Cap Growth ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, ISCG is a great option for investors seeking exposure to the Style Box - Small Cap Growth segment of the market. There are other additional ETFs in the space that investors could consider as well.
The iShares Russell 2000 Growth ETF (ARCA:IWO) and the Vanguard Small-Cap Growth ETF (ARCA:VBK) track a similar index. While iShares Russell 2000 Growth ETF has $11.99 billion in assets, Vanguard Small-Cap Growth ETF has $17.61 billion. IWO has an expense ratio of 0.24% and VBK charges 0.07%.
<h2>Bottom-Line</h2>
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
<a href="https://www.zacks.com/stock/news/2312602/should-ishares-morningstar-small-cap-growth-etf-iscg-be-on-your-investing-radar?cid=CS-BENZ-FT-style_box_etf-2312602">To read this article on Zacks.com click here.</a>

Small Cap

ISCG

MSTR

NTRA

TXRH

Should iShares Morningstar Small-Cap Growth ETF Be on Your Investing Radar?

Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading higher by 4% to $16.87 during Wednesday&#8217;s session amid overall market strength. Major indexes are higher as chip and tech stocks gain following <a href="https://www.benzinga.com/news/earnings/24/07/40060832/amd-skyrockets-over-9-lifting-along-with-ai-rival-nvidia-whats-going-on">strong earnings</a> from Advanced Micro Devices, Inc..
The semiconductor industry, particularly companies like AMD, plays a crucial role in the production of electric vehicles (EVs). Strong performance and positive outlooks in the semiconductor sector can boost investor confidence in EV manufacturers, as semiconductors are vital components in EVs.
Innovations and advancements in semiconductor technology also directly benefit EV companies by providing more efficient, powerful, and cost-effective components. AMD&#8217;s strong performance may indicate such advancements, which in turn could enhance Rivian&#8217;s product offerings.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/40066164/boeings-q2-earnings-huge-revenue-decline-lower-deliveries-names-former-aerospace-industries-associa">Boeing&#8217;s Q2 Earnings: Huge Revenue Decline, Lower Deliveries, Names Former Aerospace Industries Association Chair Kelly Ortberg As New CEO</a>
<h2 class="wp-block-heading">How To Buy RIVN Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, RIVN has a 52-week high of $27.64 and a 52-week low of $8.26.

RIVN

What's Going On With Rivian (RIVN) Stock?

Designed to provide broad exposure to the Style Box - Small Cap Value category of the market, the WisdomTree U.S. SmallCap Dividend ETF (ARCA:DES) is a smart beta exchange traded fund launched on 06/16/2006.
<h2>What Are Smart Beta ETFs?</h2>
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
There are some investors, though, who think it&#39;s possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
<h2>Fund Sponsor &amp; Index</h2>
The fund is managed by Wisdomtree, and has been able to amass over $2.06 billion, which makes it one of the larger ETFs in the Style Box - Small Cap Value. Before fees and expenses, DES seeks to match the performance of the WisdomTree U.S. SmallCap Dividend Index.
The WisdomTree U.S. SmallCap Dividend Index is a fundamentally weighted index measuring the performance of the small-capitalization segment of the US dividend-paying market.
<h2>Cost &amp; Other Expenses</h2>
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Operating expenses on an annual basis are 0.38% for DES, making it on par with most peer products in the space.
It&#39;s 12-month trailing dividend yield comes in at 2.58%.
<h2>Sector Exposure and Top Holdings</h2>
It is important to delve into an ETF&#39;s holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
Representing 27.60% of the portfolio, the fund has heaviest allocation to the Financials sector; Industrials and Consumer Discretionary round out the top three.
Looking at individual holdings, Organon &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ogn#NYSE">OGN</a>) accounts for about 1.57% of total assets, followed by TFS&nbsp;Financial Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tfsl#NASDAQ">TFSL</a>) and Allete Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ale#NYSE">ALE</a>).
The top 10 holdings account for about 8.19% of total assets under management.
<h2>Performance and Risk</h2>
The ETF return is roughly 9.65% and it&#39;s up approximately 17.30% so far this year and in the past one year (as of 07/31/2024), respectively. DES has traded between $26.55 and $34.83 during this last 52-week period.
The fund has a beta of 1.09 and standard deviation of 19.51% for the trailing three-year period, which makes DES a medium risk choice in this particular space. With about 595 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
WisdomTree U.S. SmallCap Dividend ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
Avantis U.S. Small Cap Value ETF (ARCA:AVUV) tracks ---------------------------------------- and the Vanguard Small-Cap Value ETF (ARCA:VBR) tracks CRSP U.S. Small Cap Value Index. Avantis U.S. Small Cap Value ETF has $13.13 billion in assets, Vanguard Small-Cap Value ETF has $29.85 billion. AVUV has an expense ratio of 0.25% and VBR charges 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Value.
<a href="https://www.zacks.com/stock/news/2312604/is-wisdomtree-u-s-smallcap-dividend-etf-des-a-strong-etf-right-now?cid=CS-BENZ-FT-smart_beta_etf-2312604">To read this article on Zacks.com click here.</a>

AVUV

WisdomTree Trust WisdomTree SmallCap Dividend

TFSL

Is WisdomTree U.S. SmallCap Dividend ETF a Strong ETF Right Now?

Invesco 500 GARP ETF declares quarterly distribution of $0.3360

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3 Scenarios On How U.S. Markets May Perform For The Rest Of 2024

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The Coming Week: FOMC Statement, Lots Of Labor Market Data, And More S&P 500 Earnings Data

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The Only Monthly Membership With a Positive ROI!

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Invesco S&P 500 GARP ETF

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Latest news for Invesco S&P 500 GARP ETF (ARCA:SPGP)

Monday, May 20, 2024