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Keybanc analyst Ashley Owens maintains Lululemon Athletica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) with a Overweight and lowers the price target from $415 to $350.

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Keybanc Maintains Overweight on Lululemon Athletica, Lowers Price Target to $350

Prediction market Polymarket indicates a 57% likelihood that California will pass the controversial <a href="https://www.benzinga.com/news/24/08/40618637/california-ai-safety-bill-that-got-thumbs-up-from-elon-musk-awaits-gavin-newsoms-signatures-amid-tec">AI safety bill SB 1047</a>, up 7% from previous estimates.
What Happened: The bill, which has sparked intense debate in the tech industry, is now awaiting Governor Gavin Newsom&#8216;s signature after <a href="https://www.benzinga.com/news/24/08/40618637/california-ai-safety-bill-that-got-thumbs-up-from-elon-musk-awaits-gavin-newsoms-signatures-amid-tec">passing through the California legislature</a>.
SB 1047, introduced by Democratic Senator Scott Wiener, mandates safety testing for advanced AI models with development costs exceeding $100 million or requiring substantial computing power. 
The bill authorizes the state attorney general to take legal action against non-compliant developers, particularly in cases of potential threats such as AI systems compromising government infrastructure.
The legislation has divided opinion among tech industry leaders. 
Tesla and SpaceX CEO Elon Musk, who also founded xAI, has publicly endorsed the bill, stating it&#8217;s <a href="https://www.benzinga.com/news/24/08/40567158/elon-musk-throws-weight-behind-california-ai-regulation-bill-even-as-openai-prefers-federal-regulati">&#8220;a tough call&#8221; but necessary</a>.
Conversely, tech giants like Alphabet, Microsoft, and Meta Platforms have expressed concerns about the bill&#8217;s potential to stifle innovation and deter AI companies from operating in California.
OpenAI, the company behind ChatGPT, argues that AI regulation should be addressed at the federal level to avoid an uncertain legal landscape.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40655318/ethereum-co-founders-2-1m-ether-transfer-raises-eyebrows-why-is-vitalik-buterin-dumping">Ethereum Co-Founder&#8217;s $2.1M Ether Transfer Raises Eyebrows: Why Is Vitalik Buterin Dumping?</a>
However, two former OpenAI employees have criticized the company&#8217;s stance, warning of &#8220;catastrophic harm to society&#8221; without proper safety precautions.
The Polymarket <a href="https://polymarket.com/event/will-california-pass-sb-1047-ai-safety-bill?tid=1725033339408">data</a>, which shows a $16,204 bet volume as of Aug. 30, reflects the ongoing uncertainty surrounding the bill&#8217;s fate.
The market currently values &#8220;Yes&#8221; outcomes at 59 cents and &#8220;No&#8221; outcomes at 44 cents, indicating a slight lean towards the bill&#8217;s passage.
As the AI industry continues to evolve rapidly, the outcome of SB 1047 could have far-reaching implications for AI development and regulation across the United States. 
What&#8217;s Next: This topic is likely to be a key point of discussion at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where industry experts and policymakers are expected to debate the balance between innovation and safety in the AI sector.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40651187/underwater-bitcoin-buyers-refuse-to-book-losses-but-on-chain-data-shows-this-may-be-the-ca">Underwater Bitcoin Buyers Refuse To Book Losses, But On-Chain Data Shows This May Be The Calm Before The Storm</a></li>
</ul>
Image: Shutterstock

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Cryptocurrency

Elon Musk-Backed California AI Safety Bill SB 1047 Has 57% Chance Of Being Signed By Gavin Newsom, Polymarket Shows

Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) shares are trading higher after the company reported better-than-expected <a target="_blank" href="https://www.benzinga.com//node/40638741" rel="noreferrer noopener">second-quarter financial results yesterday</a>.
Dell reported&nbsp;revenue of&nbsp;$25.03 billion,&nbsp;beating the&nbsp;consensus estimate of&nbsp;$24.14 billion, and adjusted earnings of&nbsp;$1.89&nbsp;per share, beating analyst estimates of&nbsp;$1.71&nbsp;per share, according to&nbsp;<a target="_blank" href="http://pro.benzinga.com/" rel="noreferrer noopener">Benzinga Pro</a>.
In the conference call, the company stated that it expects solid top-line growth<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> in the second half of the year</a>.
Dell expects adjusted EPS of $1.90 &#8211; <a target="_blank" href="https://investors.delltechnologies.com/static-files/ca05570d-a9a8-4d3d-83e9-91ae4a45eb88" rel="noreferrer noopener">$2.10</a> (vs. consensus of $2.20) for the third quarter and $7.55 &#8211; $8.05 (vs. street view of $7.70) for FY25.
Goldman Sachs analyst Michael Ng reiterated a Buy rating with a target price of $155 (vs. $160 prior) and raised its already above-consensus <a href="https://www.benzinga.com/quote/dell/analyst-ratings" target="_blank" rel="noreferrer noopener">FY25/26/27 EPS by 3% on average</a>.
The analyst notes that DELL&#8217;s improving AI server margins should bolster its valuation multiple and mid-term growth prospects. Early signs of growth in traditional servers and storage are also promising.
The analyst projects Dell&#8217;s diverse portfolio to benefit from a PC market recovery, growth in ISG driven by its strong position in enterprise servers and storage, and shareholder-friendly capital returns, including 40-60% of free cash flow.
Also Read: <a target="_blank" href="https://www.benzinga.com/m-a/24/08/40650305/secureworks-stock-drops-as-dell-weighs-strategic-sale-options" rel="noreferrer noopener">SecureWorks Stock Drops as Dell Weighs Strategic Sale Options</a>
J.P.Morgan analyst Samik Chatterjee reiterated the Overweight rating with a price target of $160.
Chatterjee writes that confidence in the AI-driven compute investment cycle, which should benefit Dell&#8217;s branded server companies.
While other business segments face mixed macro challenges, they also see stronger growth in the ISG group, setting up Dell for double-digit earnings growth as it overcomes PC and general-purpose server pressures.
The analyst also expects further gains from a higher valuation multiple tied to AI investments and a potential rebound in PCs, including AI-enhanced models.
Investors can gain exposure to the stock via Innovator Deepwater Frontier Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOUP#NYSE">LOUP</a>) and Return Stacked Bonds &amp; Managed Futures ETF Roundhill Generative AI &amp; Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHAT#NYSE">CHAT</a>).
Price Action: DELL shares are up 3.2% at $114.24 at the last check Friday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40644221/jim-cramer-says-lululemon-may-have-bottomed-after-nearly-50-drop-this-year-strongly-confident-ab" target="_blank" rel="noreferrer noopener">Jim Cramer Says Lululemon &#8216;May Have Bottomed&#8217; After Nearly 50% Drop This Year, Strongly Confident About Dell As Stock Surges Over 3% In After-Hours Trading</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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DELL

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Dell's AI Server Margins And PC Market Recovery Signal Earnings Growth, Say Analysts

Whales with a lot of money to spend have taken a noticeably bearish stance on Procter &amp; Gamble.
Looking at options history for Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $197,623 and 5, calls, for a total amount of $222,691.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $160.0 to $170.0 for Procter &amp; Gamble over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Procter &amp; Gamble's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Procter &amp; Gamble's substantial trades, within a strike price spectrum from $160.0 to $170.0 over the preceding 30 days.
<h3>Procter &amp; Gamble Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725038265_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PG</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$23.75</td>
<td>$21.4</td>
<td>$22.6</td>
<td>$160.00</td>
<td>$97.1K</td>
<td style="text-align: right;">544</td>
<td style="text-align: right;">43</td>
</tr>
<tr>
<td>PG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.5</td>
<td>$5.35</td>
<td>$5.4</td>
<td>$170.00</td>
<td>$91.8K</td>
<td style="text-align: right;">805</td>
<td style="text-align: right;">265</td>
</tr>
<tr>
<td>PG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.5</td>
<td>$5.35</td>
<td>$5.35</td>
<td>$170.00</td>
<td>$58.3K</td>
<td style="text-align: right;">805</td>
<td style="text-align: right;">374</td>
</tr>
<tr>
<td>PG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$5.5</td>
<td>$5.35</td>
<td>$5.35</td>
<td>$170.00</td>
<td>$47.5K</td>
<td style="text-align: right;">805</td>
<td style="text-align: right;">95</td>
</tr>
<tr>
<td>PG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/06/24</td>
<td>$1.87</td>
<td>$1.77</td>
<td>$1.77</td>
<td>$170.00</td>
<td>$37.1K</td>
<td style="text-align: right;">443</td>
<td style="text-align: right;">264</td>
</tr>
</tbody>
</table>

<h3>About Procter &amp; Gamble</h3>
Since its founding in 1837, Procter &amp; Gamble has become one of the world's largest consumer product manufacturers, generating more than $80 billion in annual sales. It operates with a lineup of leading brands, including more than 20 that generate north of $1 billion each in annual global sales, such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. Sales outside its home turf represent more than half of the firm's consolidated total.
In light of the recent options history for Procter &amp; Gamble, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Procter &amp; Gamble's Current Market Status</h3>
<ul>
<li>With a trading volume of 1,751,474, the price of PG is up by 0.05%, reaching $170.11.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 47 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Procter &amp; Gamble</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $176.5.
<ul>
<li>Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Procter &amp; Gamble, targeting a price of $163. </li>
<li>An analyst from DZ Bank has elevated its stance to Buy, setting a new price target at $190. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Procter &amp; Gamble options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

A Closer Look at Procter & Gamble's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bullish stance on Abercrombie &amp; Fitch.
Looking at options history for Abercrombie &amp; Fitch (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $85,400 and 7, calls, for a total amount of $840,600.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $160.0 for Abercrombie &amp; Fitch during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Abercrombie &amp; Fitch's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Abercrombie &amp; Fitch's whale trades within a strike price range from $100.0 to $160.0 in the last 30 days. 
<h3>Abercrombie &amp; Fitch Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725038261_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ANF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$19.8</td>
<td>$19.6</td>
<td>$19.8</td>
<td>$145.00</td>
<td>$594.0K</td>
<td>119</td>
<td style="text-align: right;">332</td>
</tr>
<tr>
<td>ANF</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/30/24</td>
<td>$10.9</td>
<td>$9.3</td>
<td>$9.8</td>
<td>$155.00</td>
<td>$58.8K</td>
<td>747</td>
<td style="text-align: right;">68</td>
</tr>
<tr>
<td>ANF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$49.7</td>
<td>$47.4</td>
<td>$48.8</td>
<td>$100.00</td>
<td>$48.8K</td>
<td>1.2K</td>
<td style="text-align: right;">20</td>
</tr>
<tr>
<td>ANF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$47.8</td>
<td>$45.7</td>
<td>$47.5</td>
<td>$130.00</td>
<td>$47.5K</td>
<td>42</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ANF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$48.5</td>
<td>$46.8</td>
<td>$46.8</td>
<td>$100.00</td>
<td>$46.8K</td>
<td>1.2K</td>
<td style="text-align: right;">10</td>
</tr>
</tbody>
</table>

<h3>About Abercrombie &amp; Fitch</h3>
Abercrombie &amp; Fitch Co is a specialty retailer that sells casual clothing, personal-care products, and accessories for men, women, and children. It sells direct to consumers through its stores and websites, which include the Abercrombie &amp; Fitch, Abercrombie kids, and Hollister brands. Most stores are in the United States, but the company does have many stores in Canada, Europe, and Asia. All stores are leased. Abercrombie ships to well over 100 countries via its websites. The company sources its merchandise from dozens of vendors that are primarily located in Asia and Central America. Abercrombie has two distribution centers in Ohio to support its North American operations. It uses third-party distributors for sales in Europe and Asia.
Having examined the options trading patterns of Abercrombie &amp; Fitch, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Abercrombie &amp; Fitch Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 1,193,088, the ANF's price is up by 1.62%, now at $144.52. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 81 days.</li>
</ul>
<h3>What Analysts Are Saying About Abercrombie &amp; Fitch</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $183.6.
<ul>
<li>Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for Abercrombie &amp; Fitch, targeting a price of $208. </li>
<li>An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Abercrombie &amp; Fitch, which currently sits at a price target of $147. </li>
<li>In a positive move, an analyst from Citigroup has upgraded their rating to Buy and adjusted the price target to $190. </li>
<li>Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Abercrombie &amp; Fitch with a target price of $208. </li>
<li>Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Abercrombie &amp; Fitch, targeting a price of $165. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Abercrombie &amp; Fitch, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Spotlight on Abercrombie & Fitch: Analyzing the Surge in Options Activity

Investors with significant funds have taken a bullish position in Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in WBD usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Warner Bros. Discovery. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 62% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $540,521, and there was a single call, worth $120,330.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $7.5 to $10.0 for Warner Bros. Discovery over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Warner Bros. Discovery's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Warner Bros. Discovery's significant trades, within a strike price range of $7.5 to $10.0, over the past month.
<h3>Warner Bros. Discovery 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725038256_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/30/24</td>
<td>$0.95</td>
<td>$0.79</td>
<td>$0.79</td>
<td>$8.50</td>
<td>$243.5K</td>
<td>6.2K</td>
<td>4.2K</td>
</tr>
<tr>
<td>WBD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$1.26</td>
<td>$1.23</td>
<td>$1.26</td>
<td>$10.00</td>
<td>$120.3K</td>
<td>35.5K</td>
<td>956</td>
</tr>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$0.22</td>
<td>$0.2</td>
<td>$0.21</td>
<td>$7.50</td>
<td>$105.0K</td>
<td>16.6K</td>
<td>10.0K</td>
</tr>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/30/24</td>
<td>$0.8</td>
<td>$0.79</td>
<td>$0.8</td>
<td>$8.50</td>
<td>$84.0K</td>
<td>6.2K</td>
<td>1.0K</td>
</tr>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/30/24</td>
<td>$0.78</td>
<td>$0.78</td>
<td>$0.78</td>
<td>$8.50</td>
<td>$28.9K</td>
<td>6.2K</td>
<td>4.6K</td>
</tr>
</tbody>
</table>

<h3>About Warner Bros. Discovery</h3>
Warner Bros. Discovery was formed in 2022 through the combination of WarnerMedia and Discovery Communications. It operates in three global business segments: studios, networks, and direct-to-consumer. Warner Bros. Pictures is the crown jewel of the studios business, producing, distributing, and licensing movies and television shows. The networks business consists of basic cable networks, such as CNN, TNT, TBS, Discovery, HGTV, and the Food Network. Direct-to-consumer includes HBO and the firm's streaming platforms, which have now been consolidated to Max and Discovery+. Much of the DTC content is created within the firm's other two business segments. Each segment operates with a global reach, with Max available in over 60 countries.
In light of the recent options history for Warner Bros. Discovery, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Warner Bros. Discovery</h3>
<ul>
<li>Trading volume stands at 6,837,323, with WBD's price down by -0.58%, positioned at $7.68.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 68 days.</li>
</ul>
<h3>What Analysts Are Saying About Warner Bros. Discovery</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $7.9.
<ul>
<li>An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $8. </li>
<li>An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Warner Bros. Discovery, which currently sits at a price target of $7. </li>
<li>An analyst from Macquarie has decided to maintain their Neutral rating on Warner Bros. Discovery, which currently sits at a price target of $8. </li>
<li>Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Warner Bros. Discovery, targeting a price of $9. </li>
<li>An analyst from Goldman Sachs persists with their Neutral rating on Warner Bros. Discovery, maintaining a target price of $7. </li>
</ul>
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Behind the Scenes of Warner Bros. Discovery's Latest Options Trends

BTIG analyst Matthew Vanvliet maintains Guidewire Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) with a Buy and raises the price target from $140 to $165.

GWRE

BTIG Maintains Buy on Guidewire Software, Raises Price Target to $165

B of A Securities analyst Matt Bullock maintains Samsara (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>) with a Buy and raises the price target from $42 to $45.

B of A Securities Maintains Buy on Samsara, Raises Price Target to $45

TD Cowen analyst Jonna Kim maintains Victoria's Secret (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) with a Hold and raises the price target from $20 to $26.

VSCO

TD Cowen Maintains Hold on Victoria's Secret, Raises Price Target to $26

JBDI

JBDI Holdings Shares Resume Trade

B of A Securities analyst George Staphos maintains Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) with a Buy and lowers the price target from $77 to $73.

B of A Securities Maintains Buy on Greif, Lowers Price Target to $73

Wall Street is seeing a relatively timid session, with the major indices displaying a slight negative performance. 
While a timid rebound in semiconductor stocks is taking shape, aided by NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&#8217;s pause of the sell-off in the previous session, the Dow Jones edged lower after reaching record <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40633329/us-stocks-rally-dow-jones-achieves-record-highs-as-gdp-outperforms-nvidia-falls-whats-driv">highs the day before.</a>
The weak risk sentiment on Friday threatens to end the S&amp;P 500 and Nasdaq 100's streak of three consecutive weekly rallies
The AI darling rose by 1% by midday in New York, contributing to the positive momentum in chipmakers, buoyed by strong earnings from Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) and MongoDB Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>).
On the data front, the Federal Reserve's preferred inflation gauge — the Personal Consumption Expenditure (PCE) Price Index — remained flat in July, breaking a three-month streak of declines.
While the index came in slightly below expectations of an increase, personal spending and income data accelerated more than anticipated, indicating that the positive momentum among U.S. consumers extended into the first month of the current quarter.
The dollar gained 0.3% on the back of the economic data, as traders trimmed expectations on a large 50-basis-point rate cut in September. The greenback&#8217;s strength pressured commodities: gold dropped 0.7%, while oil declined by 2.7%.
The sentiment in the cryptocurrency market remains negative, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down 2.3%.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,367.31</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,588.51</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,177.11</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,192.94</td>
<td>-0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% lower to $557.38.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.4% to $412.33.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was up 0.1% to $470.97.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.6% to $217.58.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up by 0.1%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down by 0.7%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>Marvell Technology Inc. rose 9.1%; eer MongoDB Inc. soared 16%.</li>
<li>Other stocks reacting to company earnings included Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) up 1.7%, Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) up 3%, Elastic N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) down over 27%, Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) down about 0.7% and Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) down 4.3%).</li>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) soared by 7.7% after rumors indicating he company is considering options, including separating its product design and manufacturing divisions.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40655318/ethereum-co-founders-2-1m-ether-transfer-raises-eyebrows-why-is-vitalik-buterin-dumping"> • Ethereum Co-Founder&#8217;s $2.1M Ether Transfer Raises Eyebrows: Why Is Vitalik Buterin Dumping?</a>
Photo: Lucky Photographer via Shutterstock

Commodities

Economics

Federal Reserve

Tech

ETFs

$BTC

ADSK

SPDR Dow Jones Industrial Average ETF Trust

ESTC

INTC

MRVL

NVDA

ULTA

XLRE

Chipmakers Tick Up As Nvidia Halts Sell-Off, Dollar Rises As Traders Revise Fed Wagers: What's Driving Markets Friday?

Friday, BridgeBio Pharma Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) presented additional data from an analysis of its Phase 3 ATTRibute-CM and open-label extension study of acoramidis in ATTR-CM at the European <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40654449/bridgebio-shares-data-on-serum-ttr-increase-when-switching-participants-from-placebo-and-tafamidis" rel="noreferrer noopener">Society of Cardiology (ESC) 2024</a>.
The data included change from baseline in serum TTR levels in participants receiving acoramidis versus those receiving tafamidis in the placebo group in ATTRibute-CM at Month 30, as well as serum TTR levels in patients who transitioned from placebo and tafamidis to acoramidis.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40652720/alnylam-pharmaceuticals-stock-falls-after-detailed-vutrisiran-data-for-a-condition-with-stiff-hea" rel="noreferrer noopener">Alnylam Pharmaceuticals Stock Falls After Detailed Vutrisiran Data For A Condition With Stiff Heart Muscles</a>.
Transthyretin amyloidosis (ATTR-CM) occurs when the liver produces faulty transthyretin (TTR) proteins. Clumps of these abnormal proteins (called fibrils) build up in the heart's main pumping chamber.
In participants who switched from Pfizer Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) Vyndaqel&nbsp;(tafamidis) and placebo in the ATTRibute-CM study to acoramidis in its open-label extension (OLE), there was a mean of 3.0mg/dL increase in serum TTR at Month 1 of the OLE (n=21, p=0.01) and mean of 3.4mg/dL increase in serum TTR at Month 6 of the OLE (n=18, p=0.01).
BridgeBio submitted a marketing application to the FDA, which has been accepted with a PDUFA action date of November 29, and a marketing application to the European Medicines Agency, with a decision expected in 2025.
BridgeBio has granted Bayer AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) exclusive rights to commercialize acoramidis for ATTR-CM in Europe.
Price Action: BBIO stock is up 12.50% at $27.69 at the last check on Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/24/08/40652646/lockheed-martin-resumes-delivery-of-f-35-jets-but-us-government-to-withhold-some-payment-putting-pro" target="_blank" rel="noreferrer noopener">Lockheed Martin Resumes Delivery Of F-35 Jets, But US Government To Withhold Some Payment Putting Profit Margins Under Pressure</a>.</li>
</ul>

Biotech

Health Care

Movers

General

BAYRY

BBIO

Why Is BridgeBio Pharma Stock Trading Higher On Friday?

Bernstein analyst Toni Sacconaghi maintains Dell Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) with a Outperform and lowers the price target from $155 to $140.

Bernstein Maintains Outperform on Dell Technologies, Lowers Price Target to $140

InterCure Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCR#NASDAQ">INCR</a>) (TASE:INCR) reported its financial and operating results for the six months ended June 30, 2024. The Israeli-based cannabis operator posted revenue of NIS 126 million ($34.58 million), compared to NIS 147 million in the second half of 2023. The company noted that the October 7th terror attack affected the company's revenues in the first half of 2024 due to damages to its southern facility located at Kibbutz Nir Oz.
&#8220;Yesterday, we announced the expansion of our strategic partnership with Cookies to the German market, the largest market in Europe, which is experiencing accelerated growth and becoming a key target market for Intercure," stated CEO Alexander Rabinovitch. "InterCure grew double-digit in the first half and presented profitable quarters, the 16th and 17th in a row. This consistent performance highlights our business model&#8217;s strength and commitment to leading the pharmaceutical cannabis market even in this challenging time. In the first half, we heavily invested in the restoration of the company&#8217;s main facility located at Kibbutz Nir Oz. The facility was damaged by the terrorist attack and is expected to gradually return to full capacity in the coming quarters, in accordance with receiving compensation from the authorities for the direct and indirect damages which the company is entitled to.&#8221;
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">First Half 2024 Financial Highlights</h2>
<ul>
<li>Adjusted EBITDA reached NIS 20.8 million compared to NIS 31.2 million in the second half of 2023.</li>
</ul>
<ul>
<li>Gross profit amounted to NIS 40.4 million in line with NIS 40.4 million in the second half of 2023.</li>
<li>Total loss was NIS 6,000 compared to income of NIS 3.8 million in the same period of 2023.</li>
<li>At the end of the reporting period, on June 30, Intercure had NIS 370.8 million in assets, compared to NIS 414.5 million at the end of June 2023.</li>
<li>The company's cash on hand was NIS 21 million, while it has an unused credit line of over NIS 22 million. InterCure expects to receive additional substantial advance payments from the Israeli authorities as part of the compensation it is entitled to due to damages caused to the Southern Facility.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39827388/european-cannabis-companies-race-to-the-nasdaq-1b-in-tax-break-on-the-horizon">European Cannabis Companies Race To The Nasdaq: $1B In Tax Break On The Horizo</a>
<h2 class="wp-block-heading">Recent Operational Milestones</h2>
<ul>
<li>Continued expansion of company&#8217;s dedicated medical cannabis pharmacy chain to a total of 24 active locations as of today. As of October 2023, InterCure holds 100% of Cannolam LTD including the full rights to Cookies international agreements, alongside Israel's largest chain of dedicated medical cannabis pharmacies, Givol.</li>
<li>Expanded its European footprint with new strategic agreements with Cookies. Enhanced branded product offerings with the most-recognized global cannabis brand and expects to launch Cookies Corners licensed pharmacies in Germany and UK, alongside differentiated online platforms with the official cookies retail experience.</li>
<li>Plans to launch more than 30 new GMP SKUs during the second half of 2024 executing collaborations with Cookies, Binske, Organigram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) and others.</li>
</ul>
InterCure reported that it expects double-digit growth throughout the second half of 2024 compared to the first half of 2024.
&#8220;Intercure is set for significant growth in the coming quarters and years in all territories, and to that end, we have executed strategic actions to strengthen the company&#8217;s high-quality cultivation and supply chain in Canada and Europe," Rabinovitch continued.
<h2 class="wp-block-heading">Price Action</h2>
InterCure shares were 2.47% higher at $2.28 per share on Friday afternoon.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39830117/medical-marijuana-regulated-as-ibuprofen-is-one-of-the-biggest-breakthroughs-of-germanys-cannabi">Medical Marijuana Regulated As Ibuprofen Is One Of The Biggest Breakthroughs Of Germany&#8217;s Cannabis Law</a></li>
</ul>
Photo: Courtesy of&nbsp;HTWE&nbsp;via Shutterstock&nbsp;

Cannabis

Earnings

INCR

Top Seller Of Pharmaceutical Cannabis Outside US Grew By Double-Digits, Focuses On Germany

JBDI Holdings Shares Halted On Circuit Breaker To The Upside, Stock Now Up 12.8%

Bernstein analyst Firoz Valliji maintains MongoDB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) with a Outperform and raises the price target from $358 to $360.

Bernstein Maintains Outperform on MongoDB, Raises Price Target to $360

Macro Economic Events

Econ #s

U.S. Baker Hughes Oil Rig Count +0, Unchanged At 483; U.S. Baker Hughes Natural Gas Rig Count -2 To 95; U.S. Baker Hughes Total Rig Count 583 Vs 585 Prior

B of A Securities analyst Michael Funk maintains Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) with a Neutral and raises the price target from $260 to $285.

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