Latest news for  (OTC:VMEXF) Stock

RBC Capital analyst Matthew McKellar maintains International Paper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IP#NYSE">IP</a>) with a Outperform and raises the price target from $52 to $56.

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RBC Capital Maintains Outperform on International Paper, Raises Price Target to $56

Evercore ISI Group analyst Mark Lipacis maintains KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) with a Outperform and raises the price target from $800 to $900.

KLAC

Evercore ISI Group Maintains Outperform on KLA, Raises Price Target to $900

Gov. Ron DeSantis told a Florida Sheriffs' Association conference on Tuesday that the state's cannabis legalization initiative,&nbsp;known as <a href="https://drupal-cloudfront.benzinga.com/markets/cannabis/24/06/39455304/desantis-fierce-opposition-notwithstanding-floridas-cannabis-legalization-amendment-shatters-all">Amendment 3, </a>is more sweeping&nbsp;than what the ballot summary indicates and the courts should have kept it off the ballot.
"When you read the summary, it doesn't tell you really what the amendment says. That's why it should not have been allowed on the ballot. I mean, the court's job is to not allow things on the ballot if the summary is not an accurate reflection," said DeSantis told the Sheriffs organization, <a href="https://wflanews.iheart.com/featured/florida-news/content/2024-07-23-gov-desantis-amendment-3-should-not-have-been-allowed-on-the-ballot/">according</a> to the News Service of Florida.
In April, the <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">Florida Supreme Court approved</a> the recreational marijuana constitutional amendment, for which voters will decide&nbsp;in the <a href="https://www.benzinga.com/markets/cannabis/24/03/37992749/florida-supreme-court-shelves-cannabis-ballot-proposal-with-no-explanation-or-provisions-as-apri" target="_blank" rel="noreferrer noopener">November 2024 elections</a>.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39908970/trump-and-desantis-supporters-love-their-cannabis-is-rift-between-anti-weed-politicos-pot-users-">Trump And DeSantis Supporters Love Their Cannabis: Is Rift Between Anti-Weed Politicos, Pot Users Brewing In The Sunshine State?</a>
As he did at the<a href="https://www.benzinga.com/topic/rnc" target="_blank" rel="noreferrer noopener">&nbsp;Republican National Convention</a>&nbsp;(RNC) in Milwaukee when he <a href="https://www.benzinga.com/markets/cannabis/24/07/39827912/ron-desantis-blasts-floridas-cannabis-legalization-ballot-at-rnc-it-would-allow-80-joints-a-day-">railed against Amendment 3</a>, DeSantis said that legal marijuana has been tried in Colorado, California and New York and the results don't justify making the change in Florida.
&#8220;I think we&#8217;ve struck a more moderate course on this. I think what Colorado has done has been very extreme, and a lot of people regret it. I think California&#8217;s been extreme, a lot of people there regret it,&#8221; DeSantis said. In fact, recent polling showed cannabis reform continues to enjoy strong support in Colorado.
DeSantis also suggested that the amendment would prevent private property owners from regulating marijuana use on their premises, which is false. The amendment allows the Florida Legislature to regulate public use of marijuana, similar to how it manages tobacco and alcohol.
<h1 class="wp-block-heading">New Polling Done By Opponents Of Legalization Amendment</h1>
Meanwhile, <a href="https://floridapolitics.com/archives/685958-vote-no-on-3s-own-poll-finds-support-for-recreational-pot-stagnant-but-above-threshold-to-pass/">Florida Politics</a> obtained a poll that will be distributed to donors on Wednesday. The poll found support for the ballot initiative still maintains strong majority support. The <a href="https://www.benzinga.com/markets/cannabis/24/07/39873861/desantis-backed-group-launches-to-defeat-cannabis-legalization-in-florida-gop-bigwigs-are-all-in">newly formed &#8220;Vote No On 3&#8221;</a> campaign, which commissioned the survey, found 64% of likely voters support the initiative, a one percentage point drop since February but still more than enough for passage.
Ryan Tyson, president and CEO of&nbsp;The Tyson Group, which undertook the February poll, put a positive spin on the dip in support, noting that despite significant financial efforts to promote the amendment, opposition to legalization has increased.
"This is not where proponents of the amendment wanted to find themselves with just over three months until Election Day after spending nearly $5 million on television ads in multiple major markets across the state unanswered," Tyson stated, per Florida Politics.
<h1 class="wp-block-heading">Speaking Of Spending Money</h1>
<a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>, the committee leading the initiative reported it raised over <a href="https://www.benzinga.com/markets/cannabis/24/06/39455304/desantis-fierce-opposition-notwithstanding-floridas-cannabis-legalization-amendment-shatters-all">$60 million</a>, according to June campaign filings. Florida-based <a href="https://www.benzinga.com/markets/cannabis/23/10/35206042/trulieve-donates-500k-to-floridas-marijuana-legalization-ballot-initiative">Trulieve</a> <a href="https://www.benzinga.com/markets/cannabis/23/10/35206042/trulieve-donates-500k-to-floridas-marijuana-legalization-ballot-initiative">Cannabis Corp</a> (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) reportedly spent more than $40 million to get the measure on the November ballot.
The legalization initiative, which&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/06/39236840/desantis-is-less-popular-than-floridas-legal-cannabis-amendment-new-poll-that-also-shows-biden-g" target="_blank" rel="noreferrer noopener">has the support</a>&nbsp;of two-thirds of Florida voters, including a majority of Republicans, needs 60% of the vote to pass.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39908764/harris-vs-trump-will-cannabis-rescheduling-survive-bidens-exit-analyst-on-potential-gop-victory">Harris Vs. Trump: Will Cannabis Rescheduling Survive Biden&#8217;s Exit? Analyst On Potential GOP Victory</a></li>
</ul>
Photo: Shutterstock

Cannabis

Government

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Legal

TCNNF

Ron DeSantis Says Florida Supreme Court Should 'Not Have Allowed' Cannabis Legalization Initiative On Ballot

Evercore ISI Group analyst James West maintains GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with a Outperform and raises the price target from $174 to $202.

Evercore ISI Group Maintains Outperform on GE Vernova, Raises Price Target to $202

RBC Capital analyst Kenneth Lee maintains Invesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) with a Sector Perform and raises the price target from $16 to $17.

RBC Capital Maintains Sector Perform on Invesco, Raises Price Target to $17

Barclays analyst Lauren Lieberman maintains Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) with a Overweight and raises the price target from $69 to $70.

Barclays Maintains Overweight on Coca-Cola, Raises Price Target to $70

Evercore ISI Group analyst Vijay Kumar maintains Edwards Lifesciences (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) with a In-Line and lowers the price target from $91 to $76.

Evercore ISI Group Maintains In-Line on Edwards Lifesciences, Lowers Price Target to $76

IPOs

Trading Ideas

Concentra Group Shares Open For Trade At $22.03/Share; IPO Priced AT $23.50/Share

RBC Capital analyst Deane Dray maintains Lennox Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) with a Sector Perform and raises the price target from $566 to $572.

RBC Capital Maintains Sector Perform on Lennox Intl, Raises Price Target to $572

Evercore ISI Group analyst David Palmer maintains Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) with a Outperform and lowers the price target from $72 to $65.

Evercore ISI Group Maintains Outperform on Chipotle Mexican Grill, Lowers Price Target to $65

Keurig Dr Pepper Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDP#NASDAQ">KDP</a>) shares are trading higher after <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">reporting second-quarter results.</a>
The company reported adjusted earnings per share of 45 cents, which aligned with the street view. Quarterly sales of $3.92 billion marginally <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39953757/keurig-dr-pepper-reports-q2-2024-results-and-reaffirms-fiscal-2024-guidance" rel="noreferrer noopener">beat the analyst consensus estimate of $3.915 billion.</a>
Net sales for the second quarter increased 3.5%. On a constant currency basis, net sales advanced 3.4%, driven by volume/mix growth of 1.8% and higher net price realization of 1.6%.
&#8220;Our consumer-centric innovation model is resonating in market, our portfolio expansion to higher growth categories is ongoing, and we are actively enhancing an already robust route-to-market — all underpinned by an unrelenting focus on cost efficiency and capital discipline,&#8221; said&nbsp;CEO&nbsp;Tim Cofer.
Adjusted operating income increased 11.0% to&nbsp;$970 million&nbsp;and totaled 24.7% as a percent of net sales,&nbsp;reflecting the benefits of higher net price realization and net productivity.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39159609/dr-pepper-overtakes-pepsi-to-become-americas-second-favorite-soda-behind-coca-cola" rel="noreferrer noopener">Dr Pepper Overtakes Pepsi To Become America&#8217;s Second Favorite Soda Behind Coca-Cola</a>
Operating cash flow for the second quarter was&nbsp;$657 million&nbsp;, and free cash flow totaled&nbsp;$543 million.
U.S. Refreshment Beverages net sales increased by 3.3% to&nbsp;$2.4 billion, U.S. Coffee net sales decreased by 2.1% to&nbsp;$1.0 billion, and International net sales for the second quarter increased by 15.5% to&nbsp;$0.6 billion.
&#8220;Now halfway through 2024, we are on track to achieve our unchanged full year outlook, while also seeding initiatives to fuel consistent growth over multiple years,&#8221; Cofer added.
Outlook: KDP reaffirmed its fiscal 2024 guidance for constant currency net sales growth in a mid-single-digit range and Adjusted <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">EPS growth in a high-single-digit range.</a>
Price Action: KDP shares are trading higher by 1.75% to $33.35 at last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39948973/crowdstrike-offers-10-uber-eats-gift-card-as-apology-for-its-outage-that-took-down-8-5m-windows-" target="_blank" rel="noreferrer noopener">CrowdStrike Offers $10 Uber Eats Gift Card As Apology For Its Outage That Took Down 8.5M Windows Computers Globally: Some Users Report Their Vouchers Being Canceled</a></li>
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Keurig Dr Pepper Beats Revenue Expectations In Q2 With 3.5% Growth - 'Our Consumer-Centric Innovation Model Is Resonating In Market'

Barclays analyst Matthew Bouley maintains Taylor Morrison Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMHC#NYSE">TMHC</a>) with a Equal-Weight and raises the price target from $62 to $72.

TMHC

Barclays Maintains Equal-Weight on Taylor Morrison Home, Raises Price Target to $72

RBC Capital analyst Scott Hanold reiterates Matador Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>) with a Outperform and maintains $75 price target.

Reiteration

MTDR

RBC Capital Reiterates Outperform on Matador Resources, Maintains $75 Price Target

Evercore ISI Group analyst Steve Sakwa downgrades Alexandria Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) from Outperform to In-Line and lowers the price target from $133 to $126.

Downgrades

Evercore ISI Group Downgrades Alexandria Real Estate to In-Line, Lowers Price Target to $126

Barclays analyst Jared Shaw maintains Popular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>) with a Overweight and raises the price target from $103 to $115.

BPOP

Barclays Maintains Overweight on Popular, Raises Price Target to $115

Shares of SFL Corporation Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFL#NYSE">SFL</a>) were crushed yesterday. The Hamilton, Bermuda-based company announced that it was offering $100 million of new shares. 
Some investors are concerned that this would dilute the value of their holdings so they sold aggressively.
But the stock could be about to bounce back. There may have been a capitulation. They also have dropped to a price level that had previously been support. This is why our team of trading experts made it our ‘<a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>'.
A capitulation occurs when sellers throw in the towel and give up. They become sick and tired of watching their stocks move lower. Finally, they decide to sell their shares regardless of the price. As a result, huge amounts of volume trade.
And this could be bullish for the stock.
After a capitulation, some traders and investors may decide that the move lower was an overreaction, so they enter the market as buyers. But they have a hard time finding someone to buy shares from. The sellers have been cleaned out.
So, these buyers will have no choice but to increase the prices they are willing to pay to draw sellers back into the market. This could force the price higher.
As you can see on the chart, <a href="https://www.benzinga.com/quote/SFL/short-interest">SFL</a> found support at the $11.60 level. This could also be a bullish dynamic.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="624" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25113334/1-27-1024x624.png" alt="SFL Corporation" class="wp-image-457299" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25113334/1-27-1024x624.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25113334/1-27-300x183.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25113334/1-27-768x468.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25113334/1-27.png 1041w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Also: <a href="https://www.benzinga.com/trading-ideas/24/06/39435271/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
Support is a large group of traders and investors who are looking to buy shares at, or close to, the same price. In this case it's $11.60.
Sometimes stocks rally after they drop to support. This happens when some of the potential buyers become concerned that they are going to miss the opportunity to acquire shares.
They know that the sellers will go to whichever buyer is willing to pay the highest price. As a result, they increase their bid price. For example, instead of paying $11.60, they may increase their bid to $11.70.
Other concerned buyers may see this and decide to increase their bids as well. This could result in a snowball effect which pushes <a href="https://www.benzinga.com/quote/SFL">SFL</a> higher.
Finding support after a capitulation can be a bullish setup for a stock. There is a good chance SFL recovers and a new uptrend forms.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39958813/surprise-q2-gdp-growth-inflation-eases-economy-is-much-stronger-than-people-realize-7-etfs">Surprise Q2 GDP Growth, Inflation Eases — &#8216;Economy Is Much Stronger Than People Realize&#8217;: 7 ETFs On The Move</a></li>
</ul>

Stock Of The Day: Reversal For SFL Corp? Why Investors Are Concerned

RBC Capital analyst Keith Mackey reiterates Nabors Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>) with a Sector Perform and maintains $114 price target.

RBC Capital Reiterates Sector Perform on Nabors Industries, Maintains $114 Price Target

Barclays analyst Duffy Fischer maintains Pilgrims Pride (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPC#NASDAQ">PPC</a>) with a Equal-Weight and raises the price target from $38 to $40.

Barclays Maintains Equal-Weight on Pilgrims Pride, Raises Price Target to $40

RBC Capital analyst Nik Modi reiterates Oatly Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTLY#NASDAQ">OTLY</a>) with a Sector Perform and maintains $1.05 price target.

OTLY

RBC Capital Reiterates Sector Perform on Oatly Group, Maintains $1.05 Price Target

Lear Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEA#NYSE">LEA</a>) shares are trading higher after the <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">company reported second-quarter results.</a>
Lear reported quarterly adjusted earnings per share of $3.60, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the street view of $3.40</a>. Revenues of $6.012 billion, missed the street view of $6.036 billion.
&#8220;We are executing our thermal comfort strategy, and, today, we are introducing ComfortFlex by Lear modular designs and the ComfortMax Seat by Lear technology,&#8221; said Ray Scott, Lear&#8217;s President and Chief Executive Officer.&nbsp;
In the second quarter, global vehicle production was down 1% compared to a year ago, with&nbsp;North America&nbsp;up 2%,&nbsp;Europe&nbsp;down 6% and&nbsp;China&nbsp;up 5%. Global vehicle production was down 1% on a Lear sales-weighted basis.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39945781/meta-cracks-down-on-nigerian-yahoo-boys-in-massive-sextortion-scam-purge-bans-63k-accounts" rel="noreferrer noopener">Meta Cracks Down On Nigerian&#8217; Yahoo Boys&#8217; In Massive Sextortion Scam Purge, Bans 63K Accounts</a>
In the second quarter of 2024, operating cash flow was&nbsp;$291 million,&nbsp;and free cash flow&nbsp;was&nbsp;$170 million.
In the second quarter, the total company registered growth over market of 3 percentage points, with 7 percentage points in E-Systems and 2 percentage points in Seating.
The company exited the quarter with cash and equivalents worth $950.3 million.
Meanwhile, following a nearly three-day strike, a union representing approximately 500 workers at a Lear factory in Missouri has reportedly reached a tentative agreement with the company.
This resolution allows General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) to resume production of its midsize pickups and cargo vans, reported Detroit Free Press.
Lear spokesman Brian Corbett&nbsp;<a target="_blank" href="https://www.freep.com/story/money/cars/general-motors/2024/07/25/uaw-lear-tentative-contract-gm-wentzville-pickup-production/74539529007/" rel="noreferrer noopener">told</a> the Detroit Free Press, &#8220;We are pleased to have reached a tentative agreement with the UAW at our Wentzville facility. We are focused on resuming normal operations.&#8221;
Outlook: Lear reduced its FY24 net sales forecast from $24 billion &#8211; $24.60 billion to $23.23 billion &#8211;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> $23.67 billion (estimate: $23.95 billion)</a>.
Price Action: LEA shares are trading higher by 4.73% to $121.98 at last check Thursday.
Image: Unsplash/ Lenny Kuhne
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39959245/whats-going-on-with-lucid-group-stock-today" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Lucid Group Stock Today?</a></li>
</ul>

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