Sasol (NYSE:SSL) Stock

Sasol

Sasol Ltd operates as a vertically integrated chemicals and energy company through its two main segments: Energy business and Chemical business. It generates maximum revenue from the Chemicals segment. The company operates coal mines and its upstream interests in oil and gas, both of which are used as feedstock in the company's energy and chemicals operations. Geographically the company generates the majority of its revenue from South Africa.

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Sasol Ltd

SIMPLY SOLVENTLESS CNCTRT by SIMPLY SOLVENTLESS CONCENTRATES LTD.

Simply Solventless Concentrates Ltd

SINO SPLENDID HLDG by Sino Splendid Holdings Ltd

Sino Splendid Holdings Ltd

Siltronic AG

SOSILA LOGISTICS REIT INC by SOSILA LOGISTICS REIT INC.

SOSiLA Logistics REIT Inc

Syntax ETF Trust Stratified SmallCap ETF

SOCIETA SPORTIVA LAZIO by Societa Sportiva Lazio Spa

Societa Sportiva Lazio SpA

Santos Ltd

Sasol's financial performance for the six months ended 31&nbsp;December&nbsp;2024 was impacted by a challenging macroeconomic and operating environment. Stringent cost and efficient capital management helped to off-set the impact and improve free cash flow generation compared to the six months ended 31&nbsp;December&nbsp;2023 (the prior period).
Revenue of R122,1 billion is 10% lower than the prior period, mainly as a result of:
<ul>
<li>A 13% decline in the average Rand per barrel Brent crude oil price and a significant decline in refining margins and fuel price differentials; and</li>
<li>A 5% decrease in sales volumes as a result of lower production and lower market demand as detailed in the Production and Sales Metrics published on 23 January 2025.</li>
</ul>
Adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA) of R23,9&nbsp;billion is 15% lower compared to the prior period mainly as a result of the aforementioned lower revenue with stringent cost management implemented in response helping to mitigate the impact. The relative contribution from International Chemicals increased from 6% to 13%.
Earnings before interest and tax (EBIT) of R9,5 billion is 40% lower than the prior period and impacted by non-cash adjustments including:
<ul>
<li>A net loss of R6,2 billion from remeasurement items compared to a net loss of R5,8 billion in the prior period, mainly due to further impairments of the Secunda liquid fuels refinery cash generating unit (CGU) of R5,0 billion and the Sasolburg liquid fuels refinery CGU of R0,6 billion. Both CGUs remain fully impaired, resulting in amounts capitalised during the current period being impaired.</li>
<li>Unrealised losses of R0,1 billion on the translation of monetary assets and liabilities, and valuation of financial instruments and derivative contracts compared to unrealised gains of R2,7 billion in the prior period.</li>
</ul>
As a result of the above, basic earnings per share (EPS) decreased by 52% to R7,22 per share and Headline earnings per share (HEPS) decreased by 31% to R14,13 per share compared to the prior period.
Cash generated by operating activities increased by 20% to R17,6 billion compared to the prior period mainly due to changes in working capital. Capital expenditure, excluding movement in capital project related payables, amounted to R15,0 billion, 6% lower than the prior period.
At 31 December 2024, our total debt was R116,9 billion (US$6,2 billion) compared to R117,7&nbsp;billion (US$6,5 billion) at 30 June 2024. Sasol deposited R5,4 billion (US$0,3 billion) on the Revolving credit facility during the current period. Our net debt (excluding leases) was R81,8&nbsp;billion (US$4,3 billion) compared to R73,7 billion (US$4,1 billion) at 30 June 2024 with the increase due to the aforementioned negative free cash flow.

Earnings

Sasol Ltd Reported Revenue Decline Of 10% In 6 Months Ended Dec 31, 2024, Adj EPS Decline Of 31%

<h3>Companies Reporting Before The Bell</h3>
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• Expeditors Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPD#NYSE">EXPD</a>) is projected to report quarterly earnings at $1.44 per share on revenue of $2.81 billion. 
• Franklin Electric (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FELE#NASDAQ">FELE</a>) is expected to report quarterly earnings at $0.66 per share on revenue of $465.87 million. 
• Valmont Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMI#NYSE">VMI</a>) is estimated to report quarterly earnings at $3.62 per share on revenue of $1.01 billion. 
• GeneDx Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGS#NASDAQ">WGS</a>) is projected to report quarterly earnings at $0.10 per share on revenue of $82.24 million. 
• Watsco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSO#NYSE">WSO</a>) is projected to report quarterly earnings at $2.19 per share on revenue of $1.67 billion. 
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• Vulcan Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMC#NYSE">VMC</a>) is estimated to report quarterly earnings at $1.75 per share on revenue of $1.81 billion. 
• NeoGenomics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEO#NASDAQ">NEO</a>) is projected to report quarterly earnings at $0.03 per share on revenue of $173.40 million. 
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• Axsome Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) is projected to report quarterly loss at $0.99 per share on revenue of $117.83 million. 
• Genuine Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) is estimated to report quarterly earnings at $1.55 per share on revenue of $5.71 billion. 
• Visteon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VC#NASDAQ">VC</a>) is likely to report quarterly earnings at $1.97 per share on revenue of $954.17 million. 
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• Waystar Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAY#NASDAQ">WAY</a>) is projected to report quarterly earnings at $0.14 per share on revenue of $232.29 million. 
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<h3>Companies Reporting After The Bell</h3>
• James Hardie Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $960.80 million. 
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• Mobix Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOBX#NASDAQ">MOBX</a>) is expected to report earnings for its first quarter. 
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• SiriusPoint (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPNT#NYSE">SPNT</a>) is likely to report earnings for its fourth quarter. 
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• SSR Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSRM#NASDAQ">SSRM</a>) is expected to report quarterly earnings at $0.20 per share on revenue of $244.25 million. 
• BrightSpire Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRSP#NYSE">BRSP</a>) is likely to report quarterly earnings at $0.19 per share on revenue of $48.20 million. 
• Corporacion Inmobiliaria (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTMX#NYSE">VTMX</a>) is likely to report earnings for its fourth quarter. 
• Hackett Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCKT#NASDAQ">HCKT</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $75.64 million. 
• Arista Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) is projected to report quarterly earnings at $0.57 per share on revenue of $1.90 billion. 
• Penumbra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) is expected to report quarterly earnings at $0.90 per share on revenue of $311.52 million. 
• JBG SMITH Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBGS#NYSE">JBGS</a>) is projected to report earnings for its fourth quarter. 
• Seven Hills Realty Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEVN#NASDAQ">SEVN</a>) is estimated to report quarterly earnings at $0.34 per share on revenue of $8.31 million. 
• Industrial Logistics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILPT#NASDAQ">ILPT</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $110.30 million. 
• Matador Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>) is estimated to report quarterly earnings at $1.84 per share on revenue of $999.09 million. 
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• Community Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHCT#NYSE">CHCT</a>) is expected to report quarterly earnings at $0.54 per share on revenue of $29.90 million. 
• Adeia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADEA#NASDAQ">ADEA</a>) is estimated to report quarterly earnings at $0.42 per share on revenue of $113.93 million. 
• Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHB#NASDAQ">RUSHB</a>) is expected to report earnings for its fourth quarter. 
• Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHA#NASDAQ">RUSHA</a>) is projected to report quarterly earnings at $0.83 per share on revenue of $1.86 billion. 
• Shift4 Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>) is expected to report quarterly earnings at $1.20 per share on revenue of $997.44 million. 
• Ingevity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>) is expected to report quarterly earnings at $0.30 per share on revenue of $315.20 million. 
• Celanese (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>) is estimated to report quarterly earnings at $1.25 per share on revenue of $2.39 billion. 
• MasterBrand (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MBC#NYSE">MBC</a>) is likely to report quarterly earnings at $0.38 per share on revenue of $722.85 million. 
• Gladstone Commercial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOD#NASDAQ">GOOD</a>) is estimated to report quarterly earnings at $0.36 per share on revenue of $38.20 million. 
• EQT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $1.82 billion. 
• Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) is likely to report quarterly earnings at $0.03 per share on revenue of $378.74 million. 
• Genworth Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNW#NYSE">GNW</a>) is likely to report earnings for its fourth quarter. 
• Innospec (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IOSP#NASDAQ">IOSP</a>) is estimated to report quarterly earnings at $1.37 per share on revenue of $447.40 million. 
• Magnolia Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGY#NYSE">MGY</a>) is projected to report quarterly earnings at $0.48 per share on revenue of $330.88 million. 
• Sasol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) is expected to report earnings for its fourth quarter. 
• Sandstorm Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAND#NYSE">SAND</a>) is expected to report earnings for its fourth quarter. 
• Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) is expected to report quarterly earnings at $1.31 per share on revenue of $4.30 billion. 
• Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) is estimated to report quarterly earnings at $1.83 per share on revenue of $1.35 billion. 
• Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) is projected to report quarterly earnings at $1.28 per share on revenue of $4.49 billion. 
• Andersons (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANDE#NASDAQ">ANDE</a>) is likely to report quarterly earnings at $0.94 per share on revenue of $2.73 billion. 
• Liberty Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBTYA#NASDAQ">LBTYA</a>) is likely to report quarterly loss at $0.96 per share on revenue of $1.95 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For February 18, 2025

Accordingly, stakeholders are advised that, for the six months ended 31 December 2025:
<ul>
<li>Adjusted earnings before interest, tax, depreciation and&nbsp;amortisation (adjusted EBITDA&#x2A;) is expected to be between R22&nbsp;billion and R25&nbsp;billion compared to the prior half year adjusted EBITDA of R28&nbsp;billion, representing a decrease of between 11% and 22%;</li>
<li>Earnings per share (EPS) are expected to be between R6,00 and R8,00 compared to the prior half year EPS of R15,19 (representing a decrease of between 47% and 61%); and</li>
<li>Headline earnings per share (HEPS) are expected to be between R13,00 and R15,00 compared to the prior half year HEPS of R20,37 (representing a decrease of between 26% and 36%); and</li>
</ul>

Sasol Projects Up To 61% Drop In EPS And 11%-22% Decline In Adjusted EBITDA Amid Lower Oil Prices And Sales Volumes For Six Months Ended December 2024

Sasol has published its production and sales performance metrics for the six months ended 31 December 2024 on the Company´s website at <a href="http://www.sasol.com/">www.sasol.com</a>, under the Investor Centre section: <a href="https://www.sasol.com/investor-centre/financial-results">https://www.sasol.com/investor-centre/financial-results</a>.
Sasol took a Final Investment Decision (FID) in December 2024 for a destoning solution to enhance the coal quality supplied to Secunda Operations (SO), with beneficial operation of the solution expected in H1 FY26 which is earlier than the previous communicated date.
The civil unrest in Mozambique affected the Central Processing Facility (CPF), leading to reduced production rates in December 2024. The situation at the CPF has improved and the unit is now operating at full capacity, albeit with heightened near-term risk still prevalent.
On 4 January 2025, a fire occurred at the Natref refinery that caused damage to supporting piping and infrastructure around the Crude Distillation Unit. Our team responded swiftly to contain the fire, with no reported injuries. Repairs are anticipated to be completed before the end of February 2025 and plans are being implemented, including product purchases to address supply shortfalls, where possible.
At SO we have experienced operational challenges, largely related to ongoing coal quality complications and the consequent impact on gasifier and equipment availability. The implementation of destoning and ongoing equipment reliability improvement initiatives are expected to improve production levels going forward.
International Chemicals revenue improved compared to H1 FY24, though the overall business environment remains challenging. Sales volumes in the quarter continued to be negatively impacted by the East Cracker outage in the US. However, the unit started up successfully in November 2024. Overall profitability has improved due to proactive management initiatives.
Market guidance for both Mining and Gas remains unchanged, with the annual volume outlook for SO and Natref revised downward due to the aforementioned challenges. Consequently, we expect sales volumes for Fuels and Chemicals Africa to be largely in line with FY24. Despite the operational challenges faced during the quarter, we remain committed to executing key self-help initiatives aimed at improving performance and mitigating the challenges we face.
ORYX production volume guidance was revised upwards.
Sales volume guidance for International Chemicals has been adjusted downward to 4 - 8% lower than FY24, driven by weaker-than-expected demand and unplanned operational outages. However, the financial impact has been mitigated through effective cost management initiatives, and improved margins compared to the prior period.

Guidance

Sasol Revises Production Guidance Amidst Operational Hurdles, Highlights Strategic Improvements

U.S. stocks were higher, with the Dow Jones index gaining over 300 points on Friday.
Shares of Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) rose sharply during Friday's session following <a href="https://www.benzinga.com/25/01/43055401/schlumberger-posts-strong-q4-results-raises-dividend-and-buybacks-championx-deal-to-strengthen-future-growth">fourth-quarter results</a>.
The company reported better-than-expected fourth-quarter EPS and revenue. Additionally, the Board announced a 3.6% increase in its quarterly cash dividend.
Symbotic shares jumped 17.7% to $31.48 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Blaize Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZAI#NASDAQ">BZAI</a>) shares jumped 25.4% to $8.15. The stock may be moving on continued strength after announcing a strategic partnership with AlwaysAI on Thursday.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) shares jumped 13.8% to $4.9499. SEALSQ announced common criteria EAL5+ certification for MS600X secure hardware platform.</li>
<li>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) gained 13% to $83.18 following a WSJ report indicating activist investor Starboard Value has acquired a 7.7% stake in the company.</li>
<li>Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) rose 10.7% to $5.51</li>
<li>Coincheck Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNCK#NASDAQ">CNCK</a>) rose 9.3% to $9.77.</li>
<li>Telix Pharmaceuticals Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLX#NASDAQ">TLX</a>) surged 9% to $17.60.</li>
<li>Semler Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) gained 8.8% to $63.38.</li>
<li>JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) gained 8.7% to $38.52.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) rose 7.5% to $21.14. Barclays analyst Tom O&#8217;Malley maintained Intel with an Equal-Weight and lowered the price target from $25 to $23.</li>
<li>Bank OZK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZK#NASDAQ">OZK</a>) rose 6.5% to $48.29 following fourth-quarter earnings.</li>
<li>Coca-Cola Consolidated, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COKE#NASDAQ">COKE</a>) gained 5.6% to $1,411.80.</li>
</ul>
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U.S. stocks were lower, with the Dow Jones index falling over 700 points on Friday.
Shares of TD Synnex Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) rose sharply in today's session after the company reported <a href="https://www.benzinga.com/25/01/42915528/td-synnex-shares-delivers-earnings-beat-and-boosts-dividend-by-10">better-than-expected quarterly financial results.</a>
Quarterly revenue of $15.85 billion, up 10% Y/Y, exceeded the analyst view of $15.22 billion. The Fremont, California-based company reported an adjusted EPS of $3.09, beating the street view of $3.05.
TD Synnex shares jumped 5.5% to $128.76 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Microvast Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVST#NASDAQ">MVST</a>) shares jumped 37.3% to $2.57 after the company announced a developments in its True All-Solid-State Battery technology.</li>
<li>Walgreens Boots Alliance Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) gained 23.6% to $11.40 after the company reported better-than-expected first-quarter financial results.</li>
<li>Savers Value Village Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SVV#NYSE">SVV</a>) surged 13.5% to $10.63 after the company reported preliminary fourth quarter and full year net sales.</li>
<li>Oculis Holding AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCS#NASDAQ">OCS</a>) gained 13.1% to $21.14.</li>
<li>Sasol Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) gained 13.1% to $4.99.</li>
<li>Pacira Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCRX#NASDAQ">PCRX</a>) climbed 12.1% to $20.83 after the company reported a preliminary year-over-year increase in FY25 revenue.</li>
<li>Royalty Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) gained 10.6% to $28.97 after the company announced it increased its quarterly dividend.</li>
<li>Merus NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRUS#NASDAQ">MRUS</a>) gained 9.8% to $46.35.</li>
<li>Teekay Tankers Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) rose 8.1% to $45.56.</li>
<li>Talos Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TALO#NYSE">TALO</a>) gained 6.2% to $10.58.</li>
<li>TD Synnex Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) rose 5.5% to $128.76 after the company reported better-than-expected quarterly financial results.</li>
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Shares of Zoomcar Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) rose sharply in today's pre-market trading after the company announced a significant achievement in its financial performance, reporting the highest-ever unaudited and unreviewed contribution profit for <a href="https://www.benzinga.com/25/01/42894964/zoomcar-achieves-highest-ever-december-profit-driven-by-17-increase-in-bookings">December 2024</a>.
The company achieved $494,506 in contribution profit for the month, which was sufficient to cover its operational costs in India. It is to be noted that Zoomcar currently only operates in India and does not incur operational costs in any other country.
Zoomcar Holdings shares jumped 40.5% to $2.50 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Vision Marine Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) gained 102% to $3.07 in pre-market trading after the company partnered with Calip Group to produce advanced cooling plates for electric boat batteries.</li>
<li>Bridger Aerospace Group Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAER#NASDAQ">BAER</a>) gained 56.3% to $4.36 in pre-market trading after surging 12% on Wednesday.</li>
<li>Mars Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAI#NASDAQ">STAI</a>) rose 44.5% to $3.15 in pre-market trading after the company announced it sees a growth path after its successful de-SPAC transaction.</li>
<li>Microvast Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVST#NASDAQ">MVST</a>) rose 35.3% to $2.53 in pre-market trading after the company announced breakthrough in true all-solid-state battery technology.</li>
<li>Senseonics Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SENS#NYSE">SENS</a>) gained 29.6% to $0.56 in pre-market trading after the company announced business updates including preliminary 2024 results, 365 launch update and cancellation of special meeting.</li>
<li>Precision BioSciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTIL#NASDAQ">DTIL</a>) gained 27.3% to $5.73 in pre-market trading after the company's partner iECURE has reported clinical efficacy and safety data in the first patient dosed with ECUR-506 in the phase 1/2 OTC-HOPE study.</li>
<li>Intrusion Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTZ#NASDAQ">INTZ</a>) gained 25% to $2.50 in pre-market trading after falling 23% on Wednesday.</li>
<li>Penguin Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) gained 15.8% to $22.15 in pre-market trading after the company signed AI data center collaboration agreement with SK Telecom and SK hynix.</li>
<li>Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) gained 12.2% to $4.96 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>IGM Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGMS#NASDAQ">IGMS</a>) fell 66.3% to $2.09 in pre-market trading as the company halted further development of Imvotamab and IGM-2644 and plans reducing its workforce by 73%.</li>
<li>Calidi Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDI#NASDAQ">CLDI</a>) fell 31.1% to $0.93 in today's pre-market trading after announcing a proposed public offering.</li>
<li>Mercury General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>) fell 30.1% to $42.42 in pre-market trading after declining around 6% on Wednesday.</li>
<li>22nd Century Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares fell 29.1% to $5.75 in pre-market trading after surging over 40% on Wednesday.</li>
<li>Aviat Networks Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) fell 25.5% to $14.00 in pre-market trading.</li>
<li>Silo Pharma Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) dipped 22.2% to $1.33 in pre-market trading. Silo Pharma shares jumped 57% on Wednesday after the company announced it was awarded a US patent for its PTSD treatment titled &#8216;Pharmacological Prophylactics Against Stress-Induced Affective Disorders in Females.&#8217;</li>
<li>CURRENC Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CURR#NASDAQ">CURR</a>) shares fell 21.6% to $3.07 in pre-market trading after jumping 182% on Wednesday.</li>
<li>European Wax Center Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWCZ#NASDAQ">EWCZ</a>) shares tumbled 20.4% to $5.10 in pre-market trading.</li>
<li>Vinci Partners Investments Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINP#NASDAQ">VINP</a>) shares dipped 15.5% to $8.10 in pre-market trading.</li>
<li>ZIM Integrated Shipping Services Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) declined 7.4% to $19.16  in pre-market trading.</li>
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</ul>

U.S. stock futures were mixed this morning, with the S&amp;P 500 futures gaining around 0.1% on Tuesday.
Shares of Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) fell sharply in today's pre-market trading after reporting <a href="https://www.benzinga.com/news/earnings/24/08/40457669/chinese-discount-retailer-vipshop-posts-4-topline-decline-as-economy-hurts-sweetens-deal-with-1b-bu">second-quarter results.</a>
Vipshop reported second-quarter sales of $3.7 billion, down by 3.6% year-on-year, which topped the Wall Street view of $3.66 billion. Vipshop Holdings registered adjusted earnings per ADS of 54 cents, which aligns with the analyst consensus.
For the third quarter of 2024, the company expects its total net revenues to be between RMB20.5 billion-RMB21.6 billion, representing a year-over-year decrease of approximately 10%-5% versus consensus of RMB22.9 billion.
Vipshop shares dipped 7.2% to $13.00 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Jiayin Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JFIN#NASDAQ">JFIN</a>) shares declined 6.9% to $5.65 in pre-market trading.</li>
<li>ATRenew Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NYSE">RERE</a>) shares fell 6.7% to $2.65 in pre-market trading following second-quarter results.</li>
<li>Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) shares fell 4.8% to $7.20 in pre-market trading after the company reported financial results for the year ended 30 June, 2024.</li>
<li>ExlService Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXLS#NASDAQ">EXLS</a>) shares fell 4% to $34.04 in pre-market trading.</li>
<li>Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) shares slipped 3.8% to $4.36 in pre-market trading following second-quarter results.</li>
<li>Alvotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALVO#NASDAQ">ALVO</a>) shares declined 3.4% to $12.55 in pre-market trading. Alvotech, last week, reported a year-over-year increase in H1 financial results.</li>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) declined 2.4% to $8.00 in pre-market trading after dipping over 18% on Monday.</li>
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ALVO

EXLS

HSAI

JFIN

RERE

RZLV

VIPS

Vipshop, Hesai Group And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Key metrics</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1">2023</td>
<td colspan="1" rowspan="1">Change %</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(LBIT)/EBIT (R million)</td>
<td colspan="1" rowspan="1">(27 305)</td>
<td colspan="1" rowspan="1">21 520</td>
<td colspan="1" rowspan="1">&gt; (100)%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Headline earnings (R million)</td>
<td colspan="1" rowspan="1">11 513</td>
<td colspan="1" rowspan="1">33 777</td>
<td colspan="1" rowspan="1">(66)&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Basic (loss)/earnings per share (Rand)</td>
<td colspan="1" rowspan="1">(69,94)</td>
<td colspan="1" rowspan="1">14,00</td>
<td colspan="1" rowspan="1">&gt; (100)%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Headline earnings per share (Rand)</td>
<td colspan="1" rowspan="1">18,19</td>
<td colspan="1" rowspan="1">53,75</td>
<td colspan="1" rowspan="1">(66)&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Interim dividend (Rand per share)</td>
<td colspan="1" rowspan="1">2,00</td>
<td colspan="1" rowspan="1">7,00</td>
<td colspan="1" rowspan="1">(71)&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Final dividend (Rand per share)</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">10,00</td>
<td colspan="1" rowspan="1">&gt; (100)%</td>
</tr>
</tbody>
</table>
</figure>

Sasol Ltd Reported 2024 EBIT Decline Of Over 100% YoY, EPS Decline Of 66% YoY

&nbsp;Shareholders and&nbsp;noteholders are referred to the SENS announcement of&nbsp;2 May 2024, where Sasol advised that Mr&nbsp;Hanr&eacute; Rossouw will step down as Chief Financial Officer and executive director of Sasol Limited on&nbsp;31 October 2024&nbsp;to pursue a career opportunity.&nbsp;

Sasol Names Walt Bruns As CFO, Effective September 1, Following Hanré Rossouw's Departure

Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) shares are trading lower after it reported its <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40305881/sasol-limited-trading-statement-for-the-financial-year-ended-30-june-2024-and-retirement-of-non-ex" rel="noreferrer noopener">trading statement for FY24</a>.
The company expects an adjusted EBITDA decline of 2% to 17%, falling from R66.3 billion in the previous year to between R54.7 billion and R64.7 billion.
Sasol&#8217;s financial results were hurt by challenging market conditions, including low chemicals prices and tight margins.
However, these effects were partially mitigated by a stronger rand, higher oil prices, improved refining margins, and increased sales volumes. Stronger operational performance in the fourth quarter&nbsp;also boosted results in the latter half of the year.
For the year, earnings fell by over 100%, largely due to non-cash adjustments, including a net loss of R55.8 billion after tax (R75.4 billion gross) from impairments.
This included R45.5 billion (net of tax) for the Chemicals America Ethane value chain, R3.9 billion (net of tax) for Chemicals Africa&#8217;s Polyethylene, Chlor-Alkali, Polyvinyl Chloride, and Wax value chains, and R5.7 billion (net of tax) for the Secunda liquid fuels refinery, all driven by weaker market conditions and lower pricing.
The results also reflect an R15.3 billion derecognition of deferred tax assets from unutilized losses in Chemicals America and R4.7 billion in unrealized gains from asset translations and financial instrument valuations.
For FY24, Sasol expects core headline earnings per share (CHEPS) to range between R35.03 and R43.62, down 9% to 27% <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">from the previous year&#8217;s R47.71</a>.
Price Action: SSL shares are down 2.38% at $6.97 at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Equities

Mid Cap

Chemicals Division Weighs Heavily on Sasol's FY24 Financial Results: Details

U.S. stocks were higher, with the Nasdaq Composite gaining over 100 points on Monday.
Shares of IQVIA Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IQV#NYSE">IQV</a>) rose sharply during Monday's session after the company released better-than-expected second-quarter financial results and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39885871/iqvia-is-a-solid-investment-with-strong-competitive-positioning-analyst-says-after-">raised its 2024 guidance</a>.
IQVIA reported a second adjusted EPS of $2.64, up from $2.43, beating the consensus of $2.57. Provider of advanced analytics reported sales of $3.81 billion, beating the consensus of $3.79 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
IQVIA Holdings shares jumped 7.4% to $241.07 on Monday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Tellurian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) shares surged 64.5% to $0.9401 after the company announced it will be acquired by Woodside Energy for approximately $900 million.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares gained 46.6% to $11.08 after Nvidia last week disclosed a stake in the company.</li>
<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) gained 27.2% to $12.82 after the company announced its first Phase 3 trial is expected to conclude by December and its second Phase 3 trial is expected to conclude by June 2025.</li>
<li>Embecta Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) climbed 16.4% to $15.34. Embecta is scheduled to host a conference call to discuss its fiscal third quarter 2024 financial results on Friday, Aug. 9.</li>
<li>Terex Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEX#NYSE">TEX</a>) gained 11.2% to $62.76 after the company inked a deal to acquire Environmental Solutions Group (ESG) from Dover Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) in a $2.0 billion all-cash transaction.</li>
<li>Aveanna Healthcare Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAH#NASDAQ">AVAH</a>) gained 10.5% to $3.80. Aveanna Healthcare will release its second quarter results before the market open on Thursday, Aug. 8.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) climbed 10.4% to $37.78.</li>
<li>Eliem Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELYM#NASDAQ">ELYM</a>) gained 9.7% to $8.01.</li>
<li>Clearwater Paper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLW#NYSE">CLW</a>) rose 9.6% to $53.65 after the company announced a deal to sell its tissue business for $1.06 billion.</li>
<li>SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) shares climbed 9.5% to $23.80 after a failed software update from CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) caused global outages.</li>
<li>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) gained 9% to $9.57.</li>
<li>Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) rose 8.8% to $7.96.</li>
<li>Rentokil Initial plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) surged 8% to $31.91 following a report suggesting former BT CEO Philip Jansen is in talks to acquire the company.</li>
<li>Noah Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOAH#NYSE">NOAH</a>) rose 7.7% to $7.78.</li>
<li>TAL Education Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) gained 7.4% to $10.84. TAL Education will release its unaudited financial results for the first quarter, before the opening bell on Thursday, Aug. 1.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) gained 5.6% to $68.32 after the company announced deals with major sports leagues to get content to its site and draw advertisers.</li>
<li>MINISO Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) gained 5.6% to $18.10.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39881674/top-4-tech-stocks-that-may-explode-in-july">Top 4 Tech Stocks That May Explode In July</a></li>
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IQVIA Posts Upbeat Earnings, Joins Terex, Reddit And Other Big Stocks Moving Higher On Monday

On CNBC's &#8220;<a href="https://www.benzinga.com/topic/mad-money-lightning-round">Mad Money Lightning Round</a>,&#8221; Jim Cramer said Dover Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) is a &#8220;terrific industrial company that really is making a great move in the data center.&#8221; 
&#8220;Dover is going to be a <a href="https://www.benzinga.com/quote/DOV/earnings">big name for me</a>,&#8221; he added.
Dover is expected to release second-quarter 2024 earnings on Thursday, July 25. Analysts expect the company to report quarterly earnings at $2.21 per share, up from $2.05 per share in the year-ago period. The company is projected to post revenue of $2.14 billion, compared to $2.2 billion a year earlier.
When asked about Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>), he said, &#8220;No, if you're going to do that you want to buy Dow, no longer Dow Chemicals, Dow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>).&#8221;
On June 20, Sasol announced that the court ruled in favor of the company and TotalEnergies Marketing. Also, it was awarded R3.89 billion in damages and <a href="https://www.benzinga.com/markets/equities/24/06/39412202/sasol-soars-on-pipeline-payday-court-awards-344m-in-tariff-dispute">approximately R2.3 billion in interest</a>.
&#8220;Don't panic, understand that they're coming down, just as a sector rotation,&#8221; Cramer said when asked about CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>).
On June 5, after a SEC filing disclosed that the company&#8217;s largest shareholder, Artal International, filed a notice regarding an order to sell 3 million shares following a conversion of Series E preferred stock into common stock.
When asked about New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>), he said, &#8220;I think the problem here is, frankly, that President Biden put a pause. And I know that there's a judge that said no to that, but I think it put the whole multi-year plan under question, and that's why it's going down.&#8221;
On July 1, New Fortress Energy announced that it has entered into a definitive agreement to sell its liquefaction and storage facility in Miami, Florida to a U.S. middle-market infrastructure fund.
Price Action:
<ul>
<li>Dover shares gained 2% to settle at $178.56 on Wednesday.</li>
<li>Sasol shares fell 2.8% to close at $7.62 during Wednesday's session.</li>
<li>Cava shares fell 5.5% to close at $85.30.</li>
<li>New Fortress Energy shares gained 1.3% to close at $19.55 on Wednesday.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39708358/wall-streets-most-accurate-analysts-weigh-in-on-3-consumer-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Consumer Stocks Delivering High-Dividend Yields</a></li>
</ul>

Restaurants

CAVA

Jim Cramer Says 'Don't Panic' About Cava, Calls This Industrial Company 'Terrific'

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) shares rose 23.32% following last week&#8217;s release of &#8216;San Guo: Mou Ding Tian Xia.&#8217; Also, JP Morgan analyst Daniel Chen upgraded Bilibili from Neutral to Overweight and <a href="https://www.benzinga.com//node/39418621" target="_blank" rel="noreferrer noopener">announced a $21 price forecast</a>.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) shares jumped 22.36% on continued strength after the announcement of insurance coverage of ANKTIVA across multiple states <a href="https://www.benzinga.com//node/39417764" target="_blank" rel="noreferrer noopener">with the first commercial doses administered</a>.</li>
<li>Sasol Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) shares escalated 20.89% after the company announced that the court ruled in favor of the company and TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) Marketing. Also, it was awarded R3.89B in damages <a href="https://www.benzinga.com//node/39412202" target="_blank" rel="noreferrer noopener">and approximately R2.3B in interest</a>.</li>
<li>Ollie&#8217;s Bargain Outlet Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) stock gained 15.25% in the last week after JP Morgan <a href="https://www.benzinga.com/quote/OLLI/analyst-ratings">upgraded the stock</a> from Neutral to Overweight.</li>
<li>Intra-Cellular Therapies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) stock was up 13.18% after the company announced topline results from its second Phase 3 trial evaluating Lumateperone as adjunctive therapy for patients with major depressive disorder, <a href="https://www.benzinga.com//node/39382029" target="_blank" rel="noreferrer noopener">meeting primary and key secondary endpoints</a>.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares advanced 12.06% on overall strength in chip stocks. Also, B. Riley Securities analyst <a href="https://www.benzinga.com/quote/AMKR/analyst-ratings">raised the price forecast</a> on the stock from $45 to $50.</li>
<li>IRhythm Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRTC#NASDAQ">IRTC</a>) shares grew 11.53% after the company announced that it reached a corporate milestone after it launched the initial phases of its previously disclosed <a href="https://www.benzinga.com//node/39411935" target="_blank" rel="noreferrer noopener">manufacturing automation plans</a>.</li>
<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) shares upped 11.32% after signing a 10-launch deal with <a href="https://www.benzinga.com//node/39429411" target="_blank" rel="noreferrer noopener">Japanese firm Synspective in Tokyo</a>.</li>
<li>Bread Financial Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFH#NYSE">BFH</a>) stock rose 10.81% after Evercore ISI Group upgraded the stock from Underperform to In-Line and raised its price target from $42 to $45. Also, RBC Capital maintained a Sector Perform rating on the stock and raised its <a href="https://www.benzinga.com/quote/BFH/analyst-ratings" target="_blank" rel="noreferrer noopener">price target from $38 to $45</a>.</li>
<li>BRF S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) shares rose 10.69%.</li>
</ol>
Photo via Wikimedia Commons
Also Read: <a href="https://www.benzinga.com/news/24/06/39447506/gamestop-and-first-solar-were-among-the-10-biggest-large-cap-losers-last-week-june-16-june-22-are-th">GameStop And First Solar Were Among The 10 Biggest Large Cap Losers Last Week (June 16-June 22): Are These In Your Portfolio?</a>

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China's Bilibili And Ollie's Bargain Outlet Were Among 10 Mid Cap Stocks With Biggest Gains In The Last Week (June 16-June 22, 2024): Are They In Your Portfolio?

WIIM

Sasol shares are trading higher after the company announced that the court ruled in favor of the company and TotalEnergies Marketing. Also, it was awarded R3.89B in damages and approximately R2.3B in interest.

Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) shares are trading higher after the company was awarded compensation in a <a href="https://www.benzinga.com/pressreleases/24/06/n39407147/high-court-awards-damages-to-sasol-against-transnet" target="_blank" rel="noreferrer noopener">High Court ruling against Transnet</a>.
On June 18, the High Court ruled in favor of Sasol Oil and TotalEnergies, awarding Sasol Oil damages of 3.89 billion rand (US$217 million) plus about 2.3 billion rand in interest, for a total of about $344 million.
Transnet SOC Ltd., through its business unit Transnet Pipelines, transports crude oil for Sasol Oil and TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) Marketing Ltd from Durban to the Natref crude oil refinery in Sasolburg.
Sasol Oil holds 63.64% of the shares in Natref, while TotalEnergies holds 36.36%.
Notably, in 2017, Sasol Oil, after TotalEnergies, filed a lawsuit against Transnet for damages caused by its failure to comply with its obligation to set pipeline tariffs for transporting crude oil under a 1991 agreement.
This breach led to Transnet&#8217;s overcharging Sasol Oil for crude oil transportation over an extended period.
The litigation between the parties has spanned several years. The remaining issues in the litigation went to trial in the High Court of South Africa from April 15 to May 3, 2024.
Transnet reportedly disclosed its intention to appeal a court decision that awarded Sasol and TotalEnergies around 6.2 billion rand ($344 million) in damages and interest to resolve a tariff dispute, reported Reuters.
Transnet said in a statement, &#8220;The judgment thus has enormous implications not only for the public purse but also for Transnet&#8217;s ability to discharge its obligations,&#8221;
Price Action: SSL shares are up 3.45% at $7.50 premarket at the last check Thursday.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Large Cap

Legal

Sasol Soars On Pipeline Payday: Court Awards $344M in Tariff Dispute

<ul>
<li>In 2017, Sasol Oil followed TotalEnergies in instituting legal action against Transnet for damages arising from Transnet&#39;s breach of its obligation to set pipeline tariffs for conveyance of crude oil in terms of an agreement that had been entered into between the parties in 1991. The result of the breach was that Transnet overcharged Sasol Oil for the conveyance of crude oil over a number of years.</li>
<li>The litigation between the parties has been ongoing for years and a number of issues in the matter have been determined by the High Court, Supreme Court of Appeal and Constitutional Court respectively.</li>
</ul>

Commodities

General

The Court Ruled In Favor Of Sasol Oil And Totalenergies, Awarding Sasol Oil R3.89B In Damages Plus Approximately R2.3B In Interest

In a market dealing with external shocks, value investing, or the strategy of putting money in underappreciated stocks, is fast gaining popularity. Although these stocks are apparently cheap compared to their peers, investment is made with the hope that the stock price will appreciate reasonably to match the intrinsic value of the business.
Several stocks that have surged significantly in the recent past have shown the overwhelming success of this pure-play investment strategy. Here, we discuss three such stocks &mdash; Eldorado Gold (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>), Sasol (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ssl#NYSE">SSL</a>) and DaVita (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dva#NYSE">DVA</a>).
<h3>More on Value Investing</h3>
While searching for a suitable investment option, value investors with varied risk appetite are unlikely to consider price/earnings to growth ratio among a number of other popular metrics like price/earnings (P/E), price/sales (P/S) or price/book value (P/B).
This is because they often find this ratio complicated, considering the limitations in calculating the future earnings growth potential of a stock. Yardsticks such as dividend yield, P/E and P/B are most commonly used to single out stocks trading at a discount.
However, these ratios, while not taking into account the future growth potential of a stock, may end up convincing us to invest in stocks that are at a discount just because of their poor show. This may often lead to &quot;value traps&quot; &mdash; a situation when these value picks start to underperform over the long run as temporary problems, which, once pulled down the share price, turn out to be persistent.
In such a case, even if you buy a stock at less than its fair value, you might still end up paying more. And here comes the importance of this not-so-popular but crucial value investing metric, the PEG ratio.
The PEG ratio is defined as (Price/ Earnings)/Earnings Growth Rate
A low PEG ratio is always better for value investors.
While P/E alone fails to identify a true value stock, PEG helps to find the intrinsic value of a stock.
There are some drawbacks to using the PEG ratio, though. It doesn&#39;t consider the common situation of changing growth rates, such as the forecast of the first three years at a very high growth rate, followed by a sustainable but lower growth rate in the long term.
Hence, PEG-based investing can turn out to be even more rewarding if some other relevant parameters are also taken into consideration.
Here are some of the screening criteria for a winning strategy:
PEG Ratio less than X Industry Median
P/E Ratio (using F1) less than X Industry Median (for more accurate valuation purpose)
Zacks Rank of 1 (Strong Buy) or 2 (Buy) (Whether good market conditions or bad, stocks with a Zacks Rank #1&nbsp;or 2 have a proven history of success.)
Market Capitalization greater than $1 Billion (This helps us to focus on companies that have strong liquidity.)
Average 20-Day Volume greater than 50,000 (A substantial trading volume ensures that the stock is easily tradable.)
Percentage Change F1 Earnings Estimate Revisions (4 Weeks) greater than 5% (Upward estimate revisions add to the optimism, suggesting further bullishness.)
Value Score of less than or equal to B: Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1, 2 or 3 (Hold) offer the best upside potential.&nbsp;
Here are three stocks that qualified the screening:
Eldorado Gold: The company, together with its subsidiaries, engages in the mining, exploration, development and sale of mineral products primarily in Turkey, Canada, Greece and Romania. By the end of 2024, the company expects to have completed theIntegrated Extractive Waste Management Facility (IEWMF) coffer dam and significantly advanced the IEWMF earthworks, water management facilities, process plant and filter plant.
Eldorado Gold has a long-term expected growth rate of 50.8%. EGO currently carries a Zacks Rank #2 and has a Value Score of A.
Sasol: The company operates as an integrated chemical and energy company in South Africa. Sasol uses selected technologies to safely and sustainably source, produce and market chemical and energy products competitively to create superior value for its customers, shareholders and other stakeholders.
Sasol currently holds a Zacks Rank #1 and has a Value Score of A. SSL also has an impressive five-year expected growth rate of 10.4%.
DaVita: Denver, CO-headquartered DaVita is a leading provider of dialysis services in the United States to patients suffering from chronic kidney failure, also known as end-stage renal disease (ESRD). The company operates kidney dialysis centers and provides related medical services, primarily in dialysis centers and in contracted hospitals across the United States. Its services include outpatient dialysis services, hospital inpatient dialysis services and ancillary services such as ESRD laboratory services and disease management services.
Apart from a discounted PEG and P/E, DaVita currently has a Zacks Rank #2 and a Value Score of A. DVA has a long-term historical growth rate of 15.5%.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. 
<a href="https://www.zacks.com/stock/news/2287692/3-peg-based-value-picks-to-boost-your-portfolio-returns?cid=CS-BENZ-FT-analyst_blog|rw-2287692">To read this article on Zacks.com click here.</a>

Analyst Ratings

3 PEG-Based Value Picks to Boost Your Portfolio Returns

Investors might want to bet on Sasol (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ssl#NYSE">SSL</a>), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company&#39;s changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
As such, the Zacks rating upgrade for Sasol is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Sasol imply an improvement in the company&#39;s underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
Earnings Estimate Revisions for Sasol
This energy company is expected to earn $2.55 per share for the fiscal year ending June 2024, which represents a year-over-year change of -10.5%.
Analysts have been steadily raising their estimates for Sasol. Over the past three months, the Zacks Consensus Estimate for the company has increased 6.7%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of Sasol to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2286836/sasol-ssl-upgraded-to-strong-buy-what-does-it-mean-for-the-stock?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2286836">To read this article on Zacks.com click here.</a>

Upgrades

Sasol Upgraded to Strong Buy: What Does It Mean for the Stock?

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
Harte Hanks (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hhs#NASDAQ">HHS</a>): This data-driven, omnichannel marketing company which offers customer data landscape as well as the executional know-how in database build and management, data analytics, data-driven creativity, digital media, direct mail, customer contact, client fulfilment and marketing and product logistics, has seen the Zacks Consensus Estimate for its current year earnings increasing 33.3% over the last 60 days.
<div class="chart_embed">
<h3>Harte Hanks, Inc. Price and Consensus</h3>
<img alt="Harte Hanks, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/f1/1718099245.png" style="height:265px; width:570px" title="" />
Harte Hanks, Inc. price-consensus-chart | Harte Hanks, Inc. Quote
</div>
American Axle &amp; Manufacturing Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>): This company which is a leading supplier of driveline and drivetrain systems, modules and components for the light vehicle market, has seen the Zacks Consensus Estimate for its current year earnings increasing 25% over the last 60 days.
<div class="chart_embed">
<h3>American Axle &amp; Manufacturing Holdings, Inc. Price and Consensus</h3>
<img alt="American Axle &amp; Manufacturing Holdings, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/68/1718099246.png" style="height:265px; width:574px" title="" />
American Axle &amp; Manufacturing Holdings, Inc. price-consensus-chart | American Axle &amp; Manufacturing Holdings, Inc. Quote
</div>
Costamare (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmre#NYSE">CMRE</a>): This company which operates as a containership owner chartering its vessels to liner companies, has seen the Zacks Consensus Estimate for its current year earnings increasing 12% over the last 60 day.
<div class="chart_embed">
<h3>Costamare Inc. Price and Consensus</h3>
<img alt="Costamare Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/14/1718099248.png" style="height:265px; width:577px" title="" />
Costamare Inc. price-consensus-chart | Costamare Inc. Quote
</div>
Sasol (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ssl#NYSE">SSL</a>): This company which is engaged in the mining and processing of coal, has seen the Zacks Consensus Estimate for its current year earnings increasing 6.7% over the last 60 days.
<div class="chart_embed">
<h3>Sasol Ltd. Price and Consensus</h3>
<img alt="Sasol Ltd. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/b0/1718099250.png" style="height:265px; width:570px" title="" />
Sasol Ltd. price-consensus-chart | Sasol Ltd. Quote
</div>
Aptiv (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aptv#NYSE">APTV</a>): This global technology and mobility company which is a designer and manufacturer of vehicle components as well as provider of electrical, electronic and safety technology solutions to the global automotive market, has seen the Zacks Consensus Estimate for its current year earnings increasing 6% over the last 60 days.
<div class="chart_embed">
<h3>Aptiv PLC Price and Consensus</h3>
<img alt="Aptiv PLC Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/f5/1718099252.png" style="height:265px; width:577px" title="" />
Aptiv PLC price-consensus-chart | Aptiv PLC Quote
</div>
<a href="https://www.zacks.com/commentary/2285105/new-strong-buy-stocks-for-june-11th?cid=CS-BENZ-FT-zacks_1_rank_additions-2285105">To read this article on Zacks.com click here.</a>

Financial Advisors

Small Cap

Personal Finance

APTV

CMRE

New Strong Buy Stocks for June 11th

Press Releases

SASOL CLARIFIES GREENHOUSE GAS (GHG) REDUCTION TARGET RANGE

SASOL LIMITED: APPOINTMENT OF A COMPANY SECRETARY

Fintech

PUBLICATION OF SASOL'S ANNUAL REPORT ON FORM 20-F FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Sandstorm Gold Royalties Reports Portfolio Drilling and Exploration Activity

APPOINTMENT OF THE CHAIRMAN OF THE SASOL LIMITED BOARD, THE LEAD INDEPENDENT DIRECTOR AND CHANGES TO THE SASOL LIMITED BOARD COMMITTEES

NOTICE OF THE ANNUAL GENERAL MEETING OF SASOL LIMITED

SASOL LIMITED: PRODUCTION AND SALES METRICS FOR THE THREE MONTHS ENDED 30 SEPTEMBER 2024

SASOL LIMITED: PRODUCTION AND SALES METRICS FOR THE SIX MONTHS ENDED 31 DECEMBER 2024

SASOL LIMITED: TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2024

SASOL LIMITED: REVIEWED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2024

SASOF

TSX:SSL

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