Latest news for TLGY Acquisition (NASDAQ:TLGYU) Stock

TLGY Acquisition Corp is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

TLGY Acquisition Corp

Citigroup analyst Alicia Yap maintains Baozun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZUN#NASDAQ">BZUN</a>) with a Buy and raises the price target from $3.9 to $4.2.

News

Price Target

Analyst Ratings

BZUN

Citigroup Maintains Buy on Baozun, Raises Price Target to $4.2

Trading Ideas

VSEE

VSee Health Shares Resume Trading

Kirby's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEX#NYSE">KEX</a>) short percent of float has fallen 4.95% since its last report. The company recently reported that it has 882 thousand shares sold short, which is 1.73% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.75 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Kirby Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732634121_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Kirby has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Kirby's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Kirby's peer group average for short interest as a percentage of float is 2.71%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(KEX) - Analyzing Kirby's Short Interest

The disconnect between <a href="https://www.benzinga.com/real-estate/24/09/41082529/its-not-a-housing-crisis-but-a-housing-policy-crisis-homebuilders-call-out-roadblocks-as-prices-surg">policymakers&#8217; housing aspirations and market realities </a>continues widening, with October&#8217;s housing starts and permits dropping to recession-level figures despite widespread calls for increased construction.
Don't Miss:
<ul>
<li>Unlock the hidden potential of commercial real estate —<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a></li>
<li>This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a></li>
</ul>
Recent data from the Census Bureau reveals housing starts fell 3.1% below September&#8217;s revised estimate, landing at a seasonally adjusted annual rate of 1,311,000 units. Building permits declined 0.6% from September, marking a 7.7% drop from October 2023.
The numbers create friction with recent comments from Federal Reserve officials, including Minneapolis Fed President Neel Kashkari, who, according to HousingWire, suggested housing demand remains robust enough to warrant higher mortgage rates. The data tells a different story, with existing home sales hitting their third consecutive year of record lows when adjusted for workforce size.
Trending: Invest in $20+ trillion home equity market today across cities like Austin, Miami, and Los Angeles through a <a href="https://www.benzinga.com/money/nada-cityfunds">unique 5-year term fund targeting a 14-20% IRR with minimums as low as $2,500</a>
Builder behavior offers telling insights into market conditions. HousingWire said construction companies have shown increased optimism when mortgage rates approach 6%, but consistently pull back when rates climb between 6.75% and 7.5%. The pattern extends beyond single-family homes, with multiunit permits already at recession levels.
The market&#8217;s sensitivity to interest rates became evident during a brief period of improved builder confidence when mortgage rates temporarily dipped from 7.5% to 6%. While builders maintain the ability to boost sales through rate buydowns, sustaining rates in the low 6% range has proved challenging.
Looking ahead, the path to increased housing construction faces hurdles. Lower Fed rates could theoretically support land purchases and apartment construction, but those developments require extensive lead time. The <a href="https://www.benzinga.com/top-stories/24/06/39512860/us-desperately-needs-housing-supply-so-why-has-new-home-construction-sunk-to-4-year-lows">current construction slowdown</a> risks exacerbating rent inflation as supply constraints persist.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
New home sales lag behind levels seen during the 2001 tech recession, highlighting the severity of current market conditions. The reality sharply contradicts predictions from 2021 that anticipated a decade-long construction boom. Instead, rising interest rates have dramatically cooled building activity.
The report said that significant construction growth appears unlikely until mortgage rates stabilize at lower levels and remain there. While the expanding economy and Fed policies may limit how far rates can fall, even a sustained move toward 6% could reinvigorate building activity. For now, "millions of homes will stay unbuilt," said Logan Mohtashami, mortgage and housing ecosystem expert and author of the HousingWire report.&nbsp;
Read Next:
<ul>
<li>Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a></li>
<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
</ul>

Real Estate

'Millions Of Homes Will Stay Unbuilt': What Builders See That Policymakers Don't

Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) sharp pullback from its record high just under $100,000 has sparked concern among traders, with Standard Chartered&#8216;s Geoffrey Kendrick attributing the correction to several factors, including a reduction in U.S. Treasury term premium and <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42172993/bitcoin-slides-below-95000-analyst-predicts-potential-correction-to-85000">upcoming options expirations.</a>
What Happened: According to Kendrick, the significant reduction in U.S. Treasury term premium following President-elect Donald Trump's <a href="https://www.benzinga.com/news/24/11/42158330/trumps-treasury-secretary-pick-scott-bessent-says-a-global-economic-reordering-is-on-the-way-argues-president-elects-policies-will-lead-to-an-economic-lollapalooza">Treasury Secretary announcement</a> triggered Bitcoin's decline.
In a note sent to Benzinga, he explained that Bitcoin is often viewed as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41050565/bitcoin-shines-as-hedge-against-major-geopolitical-events-says-research-firm">hedge against traditional financial issues</a>, and lower term premiums undermine its appeal in this role.
Data from the New York Fed, which tracks term premium movements, supports the connection between recent Treasury market activity and the crypto market&#8217;s performance.
"Bitcoin thrives on uncertainty in traditional finance. When Treasury term premiums drop, that hedge utility temporarily diminishes," Kendrick noted.
Further adding to the downward pressure are the substantial monthly options expiries scheduled for Friday. 
Data from Deribit highlights that BTC options with strike prices ranging from $85,000 to $100,000 account for over 18,000 BTC in open interest. 
Historically, options expirations have constrained price movement, with traders positioning themselves around these key levels, creating a magnet effect on spot prices.
Kendrick predicts a potential drop below $88,700—the average purchase price for ETFs and MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) since the U.S. elections. 
This could lead Bitcoin to test its critical support zone between $85,000 and $88,700 before resuming its uptrend.
Despite the retracement, institutional interest remains robust. 
ETFs have recorded inflows of approximately 77,000 BTC since <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41746095/what-the-election-outcome-means-for-bitcoins-near-term-price-action">the U.S. elections</a>, while MicroStrategy has acquired an additional 134,000 BTC.
However, Kendrick cautions that the recent influx of institutional buying at an average price of $88,700 could serve as a temporary ceiling until broader market dynamics shift.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42189225/trump-threatens-25-tariffs-on-canada-mexico-until-invasion-is-stopped-but-polymarket-traders-arent-convinced">Trump Threatens 25% Tariffs On Canada, Mexico Until &#8216;Invasion&#8217; Is Stopped, But Polymarket Traders Aren&#8217;t Convinced</a>
Why It Matters: Bitcoin&#8217;s pullback has also affected the wider crypto market.
BTC's decline from $98,500 to $93,500 coincided with a dip in overall market capitalization from $3.5 billion to $3.35 billion.
Futures markets saw over $500 million liquidated during the volatility, reflecting heightened risk aversion.
Kendrick maintained his year-end target of $125,000 for Bitcoin and a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41851865/bitcoin-to-200000-ethereum-to-10000-and-crypto-market-cap-to-4x-by-end-of-2025-says-standard-chartered">2025 projection of $200,000</a>.
He sees the current retracement as a necessary correction, driven by macroeconomic factors and technical market events.
"We are still in a structural bull market," Kendrick emphasized. "Once these short-term headwinds subside, Bitcoin is well-positioned to resume its upward trajectory."
Price Action: According to CoinGecko <a href="https://www.coingecko.com/en/coins/bitcoin">data</a>, Bitcoin is currently trading at $93,440, down 1.5% for the day after making a high of $99,645 on Nov. 22.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42171439/solana-meme-coin-platform-pump-fun-faces-backlash-over-scandalous-livestreams-but-polymarket-traders-arent-convinced-theyll-go-dark">Solana Meme Coin Platform Pump.Fun Faces Backlash Over Scandalous Livestreams, But Polymarket Traders Aren&#8217;t Convinced It&#8217;ll Go Dark</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

MSTR

Bitcoin Correction Could Go As Deep As $88,700 But $125,000 Year-End Target Remains In Play, Says Standard Chartered

Exicure's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NYSE">XCUR</a>) short percent of float has risen 73.04% since its last report. The company recently reported that it has 31 thousand shares sold short, which is 1.99% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Exicure Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732634115_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Exicure has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Exicure's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Exicure's peer group average for short interest as a percentage of float is 5.47%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

XCUR

How Is The Market Feeling About Exicure?

Rockwell Automation's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) short percent of float has fallen 10.0% since its last report. The company recently reported that it has 2.07 million shares sold short, which is 2.07% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.06 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Rockwell Automation Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732634110_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Rockwell Automation has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Rockwell Automation's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Rockwell Automation's peer group average for short interest as a percentage of float is 9.38%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Rockwell Automation's Recent Short Interest

WIIM

LexinFintech shares are trading higher after the company announced its board approved an amendment for a dividend policy to increase the payout ratio. Also, the company reported Q3 financial results.

STLA

Shares of auto-related companies are trading lower after President-elect Trump announced plans to implement tariffs on goods from Mexico, Canada and China.

TD Cowen analyst John Blackledge initiates coverage on Pinterest (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) with a Buy rating and announces Price Target of $38.

Initiation

PINS

TD Cowen Initiates Coverage On Pinterest with Buy Rating, Announces Price Target of $38

ASPI

ASP Isotopes shares are trading lower following a short report on the stock.

IGC Pharma, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGC#NYSE">IGC</a>) reported additional interim data from its ongoing Phase 2 clinical trial evaluating IGC-AD1 for agitation in dementia associated with Alzheimer's disease. IGC-AD1 targets neuro-inflammation and CB1 receptor dysfunction,. The investigational drug contains THC as one of two active pharmaceutical agents. 
Interim data analysis reveals cognitive improvements in the active treatment group versus the placebo group, marking a meaningful step toward developing a therapy that may influence underlying disease progression.
These findings <a href="https://www.benzinga.com/general/biotech/24/04/38275005/igc-pharma-says-cannabinoid-based-drug-candidate-provides-fast-relief-with-fewer-side-effects-for" target="_blank" rel="noreferrer noopener">align with previously announced preclinical data</a>, which showed a reduction in amyloid plaque aggregation by approximately 20% and improved spatial memory by about 50% in Alzheimer&#8217;s cell lines and mouse models, respectively.
&#8220;The cognitive improvements observed in our interim results align with preclinical evidence of IGC-AD1&#8217;s active pharmaceutical ingredients&#8217; impact on amyloid plaques and spatial memory," stated Ram Mukunda, CEO of IGC Pharma. "While agitation remains the primary focus of the Phase 2 trial, these exploratory findings strengthen our confidence in IGC-AD1&#8217;s potential to address the broader pathology of Alzheimer&#8217;s disease. For patients and caregivers, this potentially represents hope for improved care, and for our investors, it signifies a compelling opportunity in a growing market.&#8221;
Read Also: <a target="_blank" href="https://www.benzinga.com/partner/biotech/24/05/38699585/6-7-million-americans-live-with-alzheimers-igc-pharma-believes-they-deserve-treatment-options-wit" rel="noreferrer noopener">6.7 Million Americans Live With Alzheimer&#8217;s – IGC Pharma Believes They Deserve Treatment Options Without Black Box Warnings</a>
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 target="_blank" href="https://newsletteremail.benzinga.com/subscribe" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">Cognitive Improvements&nbsp;&nbsp;</h2>
Cognitive decline in Alzheimer&#8217;s disease reflects the deterioration of memory, attention, language and reasoning due to underlying pathological changes, such as amyloid plaques and tau tangles. Interim results from the trial demonstrated that the active treatment group receiving IGC-AD1 twice daily for six weeks showed an average improvement of about 8% on the Mini-Mental State Examination, a validated clinical tool for assessing cognitive function. By contrast, the placebo group showed no improvement over the same period.
These results and the preclinical data provide a robust foundation for future trials focusing on cognition as the primary endpoint and exploring IGC-AD1&#8217;s disease-modifying potential.
<h2 class="wp-block-heading">Primary Outcome: Agitation Reduction in Alzheimer&#8217;s Patients</h2>
Agitation, a debilitating symptom affecting up to 76% of Alzheimer&#8217;s patients, accelerates disease progression, increases caregiver burden, and drives hospitalization rates. As previously disclosed, interim results showed that IGC-AD1 significantly reduced agitation compared to placebo, with improvements observed as early as two weeks. Unlike the existing therapy, which often takes up about 6–10 weeks to show results and carries a black box warning, IGC-AD1 offers rapid symptom relief with a favorable safety profile, making it a highly differentiated potential medication for managing agitation in Alzheimer&#8217;s.
Alzheimer&#8217;s disease affects 6.7 million Americans, with the global Alzheimer&#8217;s treatment market projected to exceed $50 billion by 2025.
Price Action
IGC shares closed Monday market session 5.34% higher at $0.38 per share.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/11/42086839/after-four-weeks-new-drug-shows-promising-results-in-boosting-life-skills-for-down-syndrome-patients" target="_blank" rel="noreferrer noopener">After Four Weeks, New Drug Shows Promising Results In Boosting Life Skills For Down Syndrome Patients</a></li>
<li><a href="https://www.benzinga.com/markets/cannabis/24/11/42127698/long-term-study-reveals-cannabis-may-slow-cognitive-decline-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">Long-Term Study Reveals Cannabis May Slow Cognitive Decline: Everything You Need To Know</a></li>
</ul>
Photo: Courtesy of fizkes via Shutterstock

Cannabis

Health Care

Cannabinoid Drug For Agitation In Alzheimer's Yields Cognitive Improvements In Clinical Trial

REPL

Replimune Group shares are trading higher. The company announced it upsized its public offering to $140 million.

VSee Health Shares Halted On Circuit Breaker To The Upside, Stock Now Up 90.1%

CGTL

Trading Halt: Halt status updated at 10:10:00 AM ET: Quotation Resumption: IPO Security - Released for Quotation

The Biden-Harris Administration has proposed expanding Medicare and Medicaid coverage for anti-obesity medications, aiming to address the high costs that have drawn criticism. In the U.S., Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) has faced backlash for the steep prices of Wegovy and Ozempic, two popular <a href="https://www.benzinga.com/general/biotech/24/08/40534249/novo-nordisks-ozempic-might-be-among-2027-medicare-price-negotiation-targets">drugs in this category.</a>
While Novo Nordisk&#8217;s CEO&nbsp;Lars Fruergaard Jørgensen&nbsp;has defended the high U.S. prices of the company&#8217;s blockbuster drugs,&nbsp;Ozempic&nbsp;and&nbsp;Wegovy, stating that these medications are reducing the economic burden of&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40550961/novo-nordisk-does-not-operate-as-drug-cartel-ceo-defends-us-pricing-of-ozempic-against-criticism-" rel="noreferrer noopener">obesity-related health issues</a>.
Recent advancements in anti-obesity medications have demonstrated the potential to prevent Type 2 diabetes and reduce cardiovascular-related mortality by up to 20%.
However, the steep cost of these medications—often as high as $1,000 per month without insurance—places them beyond reach for many Americans.
The proposed rule <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/11/26/fact-sheet-biden-harris-administration-takes-latest-step-to-lower-prescription-drug-costs-by-proposing-expanded-coverage-of-anti-obesity-medications-for-americans-with-medicare-and-medicaid/" rel="noreferrer noopener">seeks</a> to make these treatments more accessible, benefiting an estimated 3.4 million Medicare recipients and 4 million Medicaid enrollees. For some, the expanded coverage could cut out-of-pocket expenses by up to 95%.
The Department of Health and Human Services (HHS) highlighted the disparity between U.S. and international drug prices, with Americans paying significantly more for anti-obesity medications.
The proposed expansion aligns with broader efforts to lower drug costs through negotiations and increased competition, aiming to ensure life-saving treatments are affordable and accessible.
According to some analysts, Novo Nordisk&#8217;s blockbuster diabetes drug Ozempic might be included in the next round of Medicare <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40534249/novo-nordisks-ozempic-might-be-among-2027-medicare-price-negotiation-targets" rel="noreferrer noopener">drug price negotiations</a>.
Most recently, Novo Nordisk said it will officially launch its weight-loss drug Wegovy in China. A four-injection pack costs around $194 (CNY 1,400) compared to around $1,349 per patient&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/42041147/novo-nordisk-to-offer-wegovy-in-china-at-fraction-of-usa-cost" rel="noreferrer noopener">per month in the U.S</a>.
In the third quarter, Wegovy sales reached 17.30 billion Danish kroner, up 81%, and Ozempic sales increased 26% at constant currency to 29.80 <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41775675/ozempicwegovy-maker-maintains-q3-sales-growth-on-booming-demand" rel="noreferrer noopener">billion Danish kroner</a>.
&#8220;The sales growth is driven by increasing demand for our GLP-1-based diabetes and obesity treatments,&#8221; Jørgensen said.
As per a report in August, several older Americans are having little success getting prescriptions for Wegovy, covered by Medicare, despite the federal healthcare program&#8217;s decision to pay for&nbsp;patients with obesity&nbsp;at <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40422798/doctors-struggle-to-secure-medicare-coverage-for-heart-patients-on-novo-nordisks-wegovy" rel="noreferrer noopener">risk of heart disease</a>.
Price Action: NVO stock is up 1.7% at $106.41 at last check Tuesday.
The stocks of several pharmaceutical companies involved in developing or marketing weight-loss medications showed mixed performance as of Tuesday&#8217;s publication.
<ol>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) was up 3.9% to $785.49.</li>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) was down 11.4% to $260.84.</li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) was down 1.3% to $25.81.</li>
<li>Viking Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) was up 5.2% to $54.74.</li>
</ol>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/11/42187787/intel-to-receive-nearly-8-billion-in-federal-funding-under-chips-act-for-us-expansion" target="_blank" rel="noreferrer noopener">Intel To Receive Nearly $8 Billion In Federal Funding Under CHIPS Act for US Expansion</a></li>
</ul>
Photo by lev radin on Shutterstock

Biotech

Large Cap

Politics

Movers

General

AMGN

VKTX

Biden Proposes Medicare, Medicaid Access For Popular Weight-Loss Drugs

Nordstrom Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) heads into its third-quarter earnings release Tuesday after-hours with momentum after trading near 52-week highs following a <a href="https://www.benzinga.com/news/earnings/24/08/40588492/nordstrom-stock-rallies-on-strong-q2-earnings-details">strong second quarter</a>.
What To Know: The company reported second-quarter EPS of 96 cents, surpassing expectations by 35.21%, although sales of $3.894 billion narrowly missed estimates. Year-over-year sales growth of 3.23%, alongside a 6.2% increase in digital sales, highlighted resilience in a challenging retail environment.
Nordstrom Rack continued to perform well, with net sales rising 8.8% and comparable sales increasing 4.1%. Gross profit margin improved by 155 basis points to 36.6%, driven by higher full-price sales and operational leverage. 
However, inventory grew 8.3%, outpacing sales growth and raising questions about stock management heading into the holiday season.
For the third quarter, analysts will focus on Nordstrom's ability to sustain growth across both banners, particularly the Rack segment, while maintaining margin improvements. Comparable sales, which rose 1.9% in the second quarter, will be closely watched as an indicator of consumer demand. 
Updated FY guidance of $1.75–$2.05 per share suggests confidence, but the third quarter results will be critical in validating the company's trajectory toward its 2024 priorities.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/11/42188320/best-buy-says-q3-sales-little-softer-than-expected-on-lower-demand-for-appliances-and-gaming-trims-annual-forecast">Best Buy Says Q3 Sales &#8216;Little Softer Than Expected&#8217; On Lower Demand For Appliances And Gaming, Trims Annual Forecast</a>
<h2 class="wp-block-heading">How To Buy JWN Stock</h2>
By now you're likely curious about how to participate in the market for Nordstrom &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Nordstrom, which is trading at $24.55 as of publishing time, $100 would buy you 4.07 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, JWN has a 52-week high of $24.99 and a 52-week low of $14.65.

Nordstrom Q3 Earnings Preview: Can Momentum Continue After Strong Q2 Results?

UBER

Uber Expands Into AI Data Labeling Using Gig-Coders For Hire

Redburn Atlantic analyst Alex Haissl maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and raises the price target from $225 to $235.

AMZN

Redburn Atlantic Maintains Buy on Amazon.com, Raises Price Target to $235

Abercrombie &amp; Fitch Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) shares are trading lower after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42186202/abercrombie-fitch-co-reports-third-quarter-fiscal-2024-results" rel="noreferrer noopener">reported&nbsp;third-quarter earnings</a>.
Sales grew 14% year over year (Y/Y) to $1.21 billion, beating the analyst consensus estimate of $1.18 billion. Comparable sales jumped 16%. Adjusted EPS of $2.50 <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">beat the analyst consensus estimate of $2.22.</a>
Abercrombie brands delivered 11% comparable sales on top of 26% last year and Hollister comped 21% on top of 7% last year.
Americas sales increased&nbsp;14%, EMEA grew&nbsp;15%&nbsp;and, APAC sales climbed&nbsp;32%&nbsp;Y/Y. Abercrombie brand sales rose&nbsp;15%, while Hollister sales improved&nbsp;14%&nbsp;Y/Y.
Gross profit margin expanded 20&nbsp;basis points Y/Y to&nbsp;65.1%&nbsp;in the quarter. Operating expenses, excluding other operating income, are net of&nbsp;$609&nbsp; million&nbsp;for the quarter.
Operating income for the quarter was&nbsp;$179&nbsp;million versus&nbsp;$138&nbsp;million a year ago, with a margin expansion of&nbsp;170&nbsp;basis points Y/Y to&nbsp;14.8%.
The operating cash flow was&nbsp;$403&nbsp;million&nbsp;for the year-to-date period ended November&nbsp;2. Inventories&nbsp;were&nbsp;$693&nbsp;million, compared to&nbsp;$469&nbsp;million&nbsp;as of February&nbsp;3, 2024. As of November&nbsp;2, the company held&nbsp;$683&nbsp;million in cash and equivalents.
In the third quarter, the company repurchased shares worth around $100 million. The company has $102 million remaining on the share repurchase authorization established in November 2021.
Fran Horowitz, Chief Executive Officer, said,&nbsp;&#8220;For the sixth consecutive quarter, our global team delivered double-digit net sales growth. This great sales performance led to better-than-expected results on both the top and bottom lines. With broad-based growth across regions and brands, we continue to execute at a high level, leveraging our regional playbooks and operating model.&#8221;
&#8220;Based on our third quarter outperformance and outlook for the fourth quarter, we are increasing our full year outlook on sales and expect to be around the high end of the operating margin range shared last quarter.&#8221;
Abercrombie &amp; Fitch&nbsp;also announced the promotion of <a target="_blank" href="https://www.benzinga.com//node/42186311" rel="noreferrer noopener">Robert Ball to Chief Financial Officer</a>, effective November 20, 2024. In his new role, Ball will serve on the company&#8217;s executive leadership team and continue to report to Scott Lipesky, Executive Vice President and Chief Operating Officer.
Lipesky, who served as the company&#8217;s CFO since 2017, was promoted to COO in May 2023, and will remain in that role, leading the company&#8217;s global operations and growth strategies.
Outlook: Abercrombie expects&nbsp;fourth-quarter&nbsp;net sales to grow in the range of 5% to 7% and<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> an operating margin of&nbsp;around 16%</a>.
Abercrombie &amp; Fitch raised its FY24 net sales growth&nbsp;outlook to&nbsp;14%&nbsp;-15% (from&nbsp;12%&nbsp;to&nbsp;13%) and revised the operating margin forecast to&nbsp;around 15%&nbsp;from <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40600911/whats-going-on-with-abercrombie-fitch-stock-today" rel="noreferrer noopener">the prior view of 14%&nbsp;–&nbsp;15%</a>.
The company continues to expect&nbsp;capital expenditure of about&nbsp;$170 million.
Investors can gain exposure to the stock via&nbsp;Two Roads Shared Trust Conductor Global Equity Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CGV#NYSE">CGV</a>)&nbsp;and&nbsp;First Trust Active Factor Small Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFSM#NYSE">AFSM</a>).
Price Action: ANF shares are down 3.57% at $148.98 at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41561884/not-guilty-plea-from-ex-abercrombie-ceo-jeffries-faces-10m-bond-and-house-arrest" target="_blank" rel="noreferrer noopener">Not Guilty Plea From Ex-Abercrombie CEO Jeffries &#8211; Faces $10M Bond And House Arrest</a></li>
</ul>
Photo Courtesy: Helen89 On Shutterstock.com.

Earnings

Equities

Mid Cap

Guidance

Management

AFSM

Compagnie Generale De Geophysique-Veritas

Abercrombie & Fitch's Global Growth Powers Q3 Beat, Outlook Raised For 2024

TLGY Acquisition

IPOs

TLGYU

TLGYU Shares Open For Trade At $10.08; IPO Priced $10/Unit

CMCAU

ROCLU

IPOs For Dec. 1, 2021:Roth CH Acquisition, Priced $10; TLGY Acquisition, Priced $10; Capitalworks Emerging Markets Acquisition, Priced $10

TLGY Acquisition Corporation Shares Will Open For Quote At 10:10 a.m. EST, Expected To Open For Trade After 10:20 a.m. EST; IPO Priced $10/Unit

Comments

TLGY Acquisition

News

Latest news for TLGY Acquisition (NASDAQ:TLGYU) Stock

Wednesday, December 01, 2021

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga