Latest news for TCW Transform 500 ETF (NYSE:VOTE)

Technology

Healthcare

Financial Services

Consumer Cyclical

Industrials

Consumer Defensive

Energy

Real Estate

Communication Services

Basic Materials

Utilities

Other

Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the Morningstar US Large Cap Select Index (the Underlying Index), which measures the performance of the 500 largest U.S. stocks by market capitalization, as determined by Morningstar, Inc. The Underlying Index consists of securities from a broad range of industries. As of March 31, 2021, the Underlying Index is represented by securities of companies in sectors including, but not limited to, consumer, energy, financial services, healthcare, technology, and utilities. The components of the Underlying Index are likely to change over time and the Underlying Index and the Fund are rebalanced on a quarterly basis. To the extent that the securities in the Underlying Index are concentrated in one or more industries or groups of industries, the Fund may concentrate in such industries or groups of industries. As of March 31, 2021, the Underlying Index is not concentrated in an industry or group of industries.

Microsoft Corp

Apple Inc

NVIDIA Corporation

Amazon.Com Inc

Meta Platforms, Inc.

Alphabet Inc Cl-a

Alphabet Inc. Cl-c

Eli Lilly & Co.

Berkshire Hathaway, Inc.

Transform 500 ETF

TCW Transform 500 ETF

HC Wainwright &amp; Co. analyst Oren Livnat reiterates Zevra Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVRA#NASDAQ">ZVRA</a>) with a Buy and maintains $15 price target.

News

Price Target

Reiteration

Analyst Ratings

ZVRA

HC Wainwright & Co. Reiterates Buy on Zevra Therapeutics, Maintains $15 Price Target

1PointFive, a carbon capture, utilization, and sequestration (CCUS) unit of Occidental Petroleum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NASDAQ">OXY</a>), has announced a significant agreement with Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) to sell 500,000 metric tons of <a target="_blank" href="https://www.1pointfive.com/news/1pointfive-and-microsoft-announce-agreement-for-direct-air-capture-cdr-credits" rel="noreferrer noopener">carbon dioxide removal (CDR) credits over six years.</a>
This agreement supports Microsoft&#8217;s carbon removal strategy and marks the largest single purchase of CDR credits enabled by Direct Air Capture (DAC) to date.
The CDR credits for Microsoft will be facilitated by STRATOS, 1PointFive&#8217;s first industrial-scale DAC facility currently under construction in Texas.
Microsoft, committed to becoming carbon negative by 2030, will have the captured carbon dioxide (CO2) securely stored through subsurface saline sequestration, ensuring it is not used for oil and gas production.
Brian Marrs, Senior Director for Carbon Removal and Energy at Microsoft, noted, &#8220;We&#8217;re very pleased to announce this deal with 1PointFive, a pioneer in the Direct Air Capture space, which is building the largest DAC project worldwide. To achieve the gigatons of removals needed this century, first-of-a-kind projects like STRATOS are essential to move from pilots to scale. DAC plays an important role in Microsoft&#8217;s carbon removal portfolio supporting our broader goal of becoming carbon negative by 2030.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39660525/microsoft-asks-staff-in-china-to-switch-from-android-phones-to-iphones-at-work-report" rel="noreferrer noopener">Microsoft Asks Staff In China To Switch From Android Phones To iPhones At Work: Report</a>
The agreement with 1PointFive highlights the increasing adoption of DAC technology as a viable solution for achieving net-zero emissions.
STRATOS is set to become the largest DAC project globally, providing a transparent and durable way to address emissions, particularly from hard-to-abate industries.
Earlier this year, AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) also agreed to purchase CDR credits from 1PointFive, as part of its commitment to reducing carbon emissions and <a target="_blank" href="https://www.benzinga.com//node/37651622" rel="noreferrer noopener">becoming carbon neutral in its global operations by 2035.</a>
Carbon credits are tradable permits that allow the owner to emit a specified amount of greenhouse gases. Reuters reported that each credit permits the emission of one metric ton of carbon dioxide or its equivalent in other greenhouse gases.
Price Action: OXY shares are trading higher by 0.72% at $61.39 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39632988/microsoft-carries-out-another-round-of-layoffs-across-teams-and-geographies-third-this-year-so-f" target="_blank" rel="noreferrer noopener">Microsoft Carries Out Another Round Of Layoffs Across Teams And Geographies, Third This Year So Far</a></li>
</ul>

Equities

General

MSFT

Microsoft Teams Up with 1PointFive For Carbon Capture Deal: Details

Craig-Hallum analyst Matt Hewitt maintains Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) with a Buy and raises the price target from $135 to $140.

LGND

Craig-Hallum Maintains Buy on Ligand Pharmaceuticals, Raises Price Target to $140

Keybanc analyst Eric Gonzalez maintains Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) with a Overweight, adjusts target to $68 from $3400 (50-1 Stock Split).

Keybanc Maintains Overweight on Chipotle Mexican Grill, Adjusts Price Target To $68 (50-1 Stock Split)

WIIM

EXPE

Expedia Group shares are trading higher after Wells Fargo maintained an Equal-Weight rating on the stock and raised its price target from $137 to $140.

Craig-Hallum analyst Albert Lowe initiates coverage on Skye Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYE#NASDAQ">SKYE</a>) with a Buy rating and announces Price Target of $18.

Initiation

SKYE

Craig-Hallum Initiates Coverage On Skye Bioscience with Buy Rating, Announces Price Target of $18

Craig-Hallum analyst Chad Bennett downgrades Pros Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRO#NYSE">PRO</a>) from Buy to Hold and lowers the price target from $40 to $32.

Downgrades

Craig-Hallum Downgrades Pros Holdings to Hold, Lowers Price Target to $32

Investors frequently name the world&#8217;s wealthiest individuals as their top choices for interviews, dinner conversations or investment advice due to their <a href="https://www.benzinga.com/general/movers-shakers/21/08/17298128/warren-buffett-turns-91-a-highlight-for-each-decade-of-his-life-1">extensive experience and remarkable success</a>.
A recent Benzinga poll on social media asked followers which duo of investors or popular figures in the investment world they would want to sit next to on a 10-hour flight.
What Happened: Business travelers and vacationers can do a variety of things while<a href="https://www.benzinga.com/topic/airline-stocks"> on an airplane</a>, including reading emails, watching movies, sleeping or diving into investment research and pitches.
Benzinga set up a hypothetical plane trip lasting 10 hours and asked followers which seat number they would choose. Many of the seats were set up strategically including placing rivals Elon Musk and Mark Zuckerberg next to each other. Another seat option comes in between Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bear Peter Schiff and Bitcoin bull Michael Saylor.
The image below offers 10 choices:
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You&#39;re stuck on a 10 hour flight. Where are you sitting? <a href="https://t.co/w09l0vxzRt">pic.twitter.com/w09l0vxzRt</a>
&mdash; Benzinga (@Benzinga) <a href="https://twitter.com/Benzinga/status/1808500793609216149?ref_src=twsrc%5Etfw">July 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The choices include the following seat and the key individuals next to them:
<ol>
<li>Seat 1, Gary Gensler, Roaring Kitty (Keith Gill)</li>
<li>Seat 2, Elon Musk, Mark Zuckerberg</li>
<li>Martin Shkreli, Seat 3, Jerome Powell</li>
<li>Seat 4, Cathie Wood, Mark Cuban</li>
<li>Ryan Cohen, Seat 5, Nancy Pelosi</li>
<li>Warren Buffett, Seat 6, Changpeng Zhao</li>
<li>Peter Schiff, Seat 7, Michael Saylor</li>
<li>Jim Cramer, Jensen Huang, Seat 8</li>
<li>Sam Bankman-Fried, Seat 9, Bill Gates</li>
<li>Robert Kiyosaki, Michael Burry, Seat 10</li>
</ol>

When adding up votes and comments on X, Facebook and Instagram, there was one clear winner among Benzinga followers. Here are the overall results across all three social media platforms:
Seat 2 (Musk, Zuckerberg): 45%
Seat 6 (Buffett, CZ): 22%
Seat 8 (Cramer, Huang): 6%
Seat 3 (Shkreli, Powell): 5%
Seat 4 (Wood, Cuban): 5%
Seat 5 (Cohen, Pelosi): 4%
Seat 7 (Schiff, Saylor): 4%
Seat 9 (SBF, Gates): 4%
Seat 10 (Kiyosaki, Burry): 3%
Seat 1 (Gensler, Roaring Kitty): 1%
Read Also: <a href="https://www.benzinga.com/news/management/24/02/36922961/musk-vs-zuckerberg-though-billionaires-didnt-fight-in-cage-rivalry-heats-up-as-meta-is-now-worth-">Musk Vs. Zuckerberg: Though Billionaires Didn&#8217;t Fight In Cage, Rivalry Heats Up As Meta Is Now Worth Twice As Much As Tesla</a>
Why It's Important: Seat 2 was the overall winner by a wide margin with many people wanting to sit next to Musk. Others pointed to the potential war of words between Musk and Zuckerberg on the plane as potentially being entertaining.
Seat 2 got 33% of the vote on Facebook, 38% of the vote on Instagram and 56% of the vote on X, finishing in first place on all three platforms.
"I would pay double to be in seat 2 and listen to Elon and Zuck go at it," X user @its__whit_ said.
Seat 6 finished in second place overall with people welcoming the thought of sitting next to Buffett. The seat finished in second place on Facebook (16%) and Instagram (26%), but finished well behind on X (4%).
Seat 8 with Huang and Cramer finished in third place overall. The seat received 10% of the vote on Instagram where it finished in third place. The seat was less popular on Facebook (2%) and X (4%).
On X, the second most popular seat was Seat 7 wedged between well-known Schiff and Saylor. The seat received 16% of the vote on X.
"Funniest would be 7 schiff vs saylor," a user on Instagram said.
X user @quietov said "Number 7 would be the most entertaining seat."
The reasons for selecting each seat varied for followers who left comments and their reasoning.
"Roaring Kitty easily. I gotta know his next move asap," a user on Facebook said.
Popular X user Greg (@greg16676935420) used the layout of the plane to pick a seat that was next to several of the key figures on the plane.
"4 so I'm surrounded by legends," Greg said.
X user @cycleflyer picked seat 3 for a unique reason.
"Easily 3. Martin is out there and Powell has some dry humor. No-Brainer," the user said.
Other comments pointed to bending the rules slightly.
"I'd stay 1hr every seat. It's a great opportunity to talk to all of them basically for free," a user on Facebook said.
Another user on Facebook chose to sit somewhere else instead of any of the 10 options.
"I'd prefer to sit with my family. Thank you."
Be sure to follow<a href="https://x.com/Benzinga"> Benzinga on X</a>, <a href="https://www.facebook.com/Benzinga/">Facebook </a>and <a href="https://www.instagram.com/benzinga/?hl=en">Instagram </a>for more polls to share your opinion in the future.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/education/24/05/38793704/who-is-roaring-kitty-why-does-his-return-to-social-media-matter-for-gamestop-stock">Who Is Roaring Kitty? Why Does His Return To Social Media Matter For GameStop Stock?</a></li>
</ul>
Photo: Benzinga compilation

Entertainment

Social Media

Exclusives

$BTC

Elon Musk, Warren Buffett, Nancy Pelosi, Jensen Huang, Michael Saylor: Who You Sitting By On A Plane For A 10-Hour Flight?

Editor&#8217;s note: This story has been updated with new information from Interactive Brokers on the timing of the ForecastEx prediction market launch and to correct a quote by Thomas Peterffy. 
Interactive Brokers&#8216; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) Thomas Peterffy has revealed that the Commodity Futures Trading Commission (CFTC) will not permit the listing of election-related contracts on their soon-to-launch prediction market, &#8220;ForecastEx.&#8221;
What Happened: On Wednesday, Peterffy, the founder of Interactive Brokers, revealed during CNBC&#8217;s &#8220;Last Call&#8221; that the CFTC will not allow to list election-related contracts on their upcoming prediction market. 
&#8220;They think that it may influence the election. That people with a lot of money could influence the election by driving the contract to an unreasonable level.&#8221;
Peterffy&#8217;s comment appears after Interactive Brokers &#8216;s wholly owned subsidiary ForecastEx LLC received the CFTC&#8217;s nod to operate a contract market and derivative clearing organization.
As per a press release, ForecastEx, a prediction market, is scheduled to commence operations on July 8 and will offer contracts that enable investors to speculate on the likelihood of specific economic and climate indicators.
The ForecastEx prediction market, which was initially scheduled to commence operations July 8, will now launch later in the summer due to administrative issues, according to Interactive Brokers. The market will offer contracts that enable investors to speculate on the likelihood of specific economic and climate indicators.
Contracts on ForecastEx aim to provide a consensus view on controversial issues and hedge economic exposure.
See Also: <a href="https://www.benzinga.com/news/24/06/39455125/spacex-gambled-with-starships-reentry-method-says-senior-exec-there-was-still-a-chance-that-this-wou?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX Gambled With Starship&#8217;s Reentry Method, Says Senior Exec: &#8216;There Was Still A Chance That This…Would Fundamentally Not Work&#8217;</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Unfortunately, the <a href="https://twitter.com/CFTC?ref_src=twsrc%5Etfw">@CFTC</a> will not allow us to list an election-related contract," says <a href="https://twitter.com/IBKR?ref_src=twsrc%5Etfw">@IBKR</a>'s Thomas Peterffy on the soon-to-launch prediction market "ForecastEx". "They think that it may influence the election. That people with a lot of money could influence the election." <a href="https://t.co/EDOnu8Exwk">pic.twitter.com/EDOnu8Exwk</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1806115229941616782?ref_src=twsrc%5Etfw">June 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/06/39450394/whether-donald-trump-wins-election-or-joe-biden-jeff-bezos-backed-anthropics-ceo-says-my-message-is?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Whether Donald Trump Wins Election Or Joe Biden, Jeff Bezos-Backed Anthropic&#8217;s CEO Says &#8216;My Message Is Go</a>
Why It Matters: In May, the CFTC voted to formally reject event contracts based on political activity. This decision was aimed at protecting U.S. customers from platforms that enable such trading, following a prolonged legal battle with firms offering these services.
Prediction platforms such as PredictIt, Polymarket, Zeitgeist, and Kalshi, which are popular in crypto circles, provide users the chance to buy contracts on actual event outcomes, including elections and policy developments. The proposed rule would prohibit contracts on political contests, awards contests, and game outcomes for U.S.-regulated companies. The proposal still needs to pass through a 60-day public comment period and a process to approve a final rule.
Just days after the CFTC&#8217;s vote, Polymarket <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38846891/vitalik-buterin-peter-thiel-back-crypto-prediction-market-polymarket-with-70m-funding">secured $70 million</a> in funding in a round led by billionaire investor Peter Thiel&#8217;s Founders Fund and included other notable backers such as Ethereum co-founder Vitalik Buterin.
Recently, Goldman Sachs revised its year-end target for the S&amp;P 500 Index to 5,600 from the previous 5,200. Analysts pointed out that the U.S. election poses a significant risk to the S&amp;P 500 level, with increased index volatility during the election period. However, following the election, volatility typically decreases and the S&amp;P 500 index tends to recover, often reaching an even higher level.&nbsp;
Price Action: SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 Index, gained&nbsp;15.42%&nbsp;so far this year. At the time of writing, it was trading 0.14% lower at $544.73 after it closed&nbsp;at $545.5 on Wednesday, according to<a href="https://pro.benzinga.com"> Benzinga Pro</a>. 
Read Next: <a href="https://www.benzinga.com/news/24/06/39450435/elon-musk-believes-pop-singer-justin-timberlake-could-have-avoided-dwi-charges-had-he-been-driving-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Believes Pop Singer Justin Timberlake Could Have Avoided DWI Charges Had He Been Driving A Tesla And Not BMW</a>
Image via MidJourney
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Emerging Markets

Politics

Markets

IBKR

'People With A Lot Of Money Could Influence The Election:' Interactive Brokers' Thomas Peterffy Reveals Why CFTC Will Not Allow Election-Related Contracts (CORRECTED)

B of A Securities analyst Ken Hoexter maintains CSX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) with a Neutral and maintains $37 price target.

B of A Securities Maintains Neutral on CSX, Maintains $37 Price Target

The iShares Core High Dividend ETF (ARCA:HDV) was launched on 03/29/2011, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
There are some investors, though, who think it&#39;s possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor &amp; Index
Managed by Blackrock, HDV has amassed assets over $10.15 billion, making it one of the larger ETFs in the Style Box - Large Cap Value. HDV seeks to match the performance of the Morningstar Dividend Yield Focus Index before fees and expenses.
The Morningstar Dividend Yield Focus Index offers exposure to high quality U.S. domiciled companies that have had strong financial health and an ability to sustain above average dividend payouts.
Cost &amp; Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund&#39;s return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
With one of the least expensive products in the space, this ETF has annual operating expenses of 0.08%.
It has a 12-month trailing dividend yield of 3.54%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund&#39;s holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
Representing 24.90% of the portfolio, the fund has heaviest allocation to the Energy sector; Consumer Staples and Healthcare round out the top three.
Looking at individual holdings, Exxon Mobil Corp&nbsp;accounts for about 8.21% of total assets, followed by Chevron Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) and Verizon Communications Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vz#NYSE">VZ</a>).
HDV&#39;s top 10 holdings account for about 52.21% of its total assets under management.
Performance and Risk
The ETF has added roughly 7.43% and is up about 12.30% so far this year and in the past one year (as of 07/09/2024), respectively. HDV has traded between $93.77 and $111.68 during this last 52-week period.
The fund has a beta of 0.79 and standard deviation of 13.33% for the trailing three-year period, which makes HDV a medium risk choice in this particular space. With about 81 holdings, it effectively diversifies company-specific risk.
Alternatives
IShares Core High Dividend ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Russell 1000 Value ETF&nbsp;tracks Russell 1000 Value Index and the Vanguard Value ETF tracks CRSP U.S. Large Cap Value Index. IShares Russell 1000 Value ETF has $55.66 billion in assets, Vanguard Value ETF has $115.94 billion. IWD has an expense ratio of 0.19% and VTV charges 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value.
<a href="https://www.zacks.com/stock/news/2298259/is-ishares-core-high-dividend-etf-hdv-a-strong-etf-right-now?cid=CS-BENZ-FT-smart_beta_etf-2298259">To read this article on Zacks.com click here.</a>

Trading Ideas

ETFs

Is iShares Core High Dividend ETF a Strong ETF Right Now?

B of A Securities analyst David Li maintains BeiGene (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>) with a Neutral and lowers the price target from $180 to $152.5.

BGNE

B of A Securities Maintains Neutral on BeiGene, Lowers Price Target to $152.5

Guidance

VWAGY

Volkswagen Adjusts Annual Forecast; Expects Burden On Operating Result Up To €2.5B; Supports EU Information And Consultation Process At Brussels Site

Eni SpA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/e#NYSE">E</a>), an Italian energy giant, has announced a major new oil discovery in the Yopaat-1 EXP exploration well in Block 9, located approximately 63 kilometers off the coast in the mid-deep waters of the Cuenca Salina in the Sureste Basin, offshore Mexico. The preliminary estimates suggest that the discovery holds around 300-400 million barrels of oil equivalents (Mboe) and associated gas in place.
The Yopaat-1 EXP well was drilled in a water depth of 525 meters and reached a total depth of 2,931 meters, encountering approximately 200 meters of net pay of hydrocarbon-bearing sands in the Pliocene and Miocene sequences. The drilling operation was accompanied by an extensive subsurface data acquisition campaign, ensuring a comprehensive understanding of the geological formation.
The Block 9 joint venture consists of Eni as the operator with a 50% participating interest and Repsol holding the remaining 50%. This discovery, in conjunction with other successful finds in Eni-operated Blocks 7 and 10, underscores the significant value of Eni&#39;s asset portfolio in the Sureste Basin. The overall estimate of resources now exceeds 1.3 billion barrels of oil equivalent (Bboe), paving the way for future development plans. Eni is exploring the potential for a &quot;Hub&quot; development to integrate this discovery with others in the area, leveraging the existing infrastructure.
Eni&#39;s presence in Mexico dates back to 2006, and in 2015, the company established its wholly-owned subsidiary, Eni Mexico S. de R. L. de C.V. Today, Eni stands as the leading foreign operator in the country, holding rights in eight exploration and production blocks in the Sureste Basin, of which the company operates seven.
Eni&#39;s latest discovery in the Sureste Basin marks a promising chapter in its Mexican operations, paving the way for future growth and development. The company&#39;s ongoing efforts to explore and develop new resources underscore its role as a key player in the global energy market.
With the support of its partner Repsol, Eni is well-positioned to capitalize on this discovery, driving forward its vision of a sustainable and prosperous energy future in Mexico.
<h3>Zacks Rank &amp; Key Picks</h3>
E currently has a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like Hess Corporation, Sunoco LP&nbsp;and SM Energy Company, each sporting a Zacks Rank #1 (Strong Buy) at present.
Hess is a leading oil and natural gas exploration and production company that made several world-class oil discoveries in the Stabroek Block, located off the coast of Guyana.&nbsp;The company is currently in the process of being acquired by supermajor Chevron in an all-stock deal worth $53 billion. The merger will likely result in the creation of an energy behemoth with a massive portfolio of producing assets.&nbsp;
The Zacks Consensus Estimate for HES&#39; 2024 EPS is pegged at $10.28. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company&#39;s attractive oil and gas investments should create long-term value for shareholders.
The Zacks Consensus Estimate for SM&#39;s 2024 EPS is pegged at $6.95. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2025 in the past seven days.
<a href="https://www.zacks.com/stock/news/2298288/eni-e-strikes-big-with-new-discovery-in-sureste-basin?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2298288">To read this article on Zacks.com click here.</a>

Earnings

Eni Strikes Big With New Discovery in Sureste Basin

B of A Securities analyst Wamsi Mohan maintains Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) with a Buy and maintains $230 price target.

AAPL

B of A Securities Maintains Buy on Apple, Maintains $230 Price Target

Align Technology, Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/algn#NASDAQ">ALGN</a>) successful efforts to broaden the Invisalign portfolio are poised to bring significant growth in the upcoming quarters. Continued expansion into new regions and new manufacturing facilities appears optimistic. A sound financial stability is beneficial for the stock as well. Meanwhile, the adverse macroeconomic impacts on its operations and excessive reliance on a single platform raise concerns.
In the past year, this Zacks Rank #3 (Hold) company has lost 27.6% compared with 2.6% decline of the industry.The S&amp;P 500 composite increased 27.7% during the same time frame.
The renowned medical device company has a market capitalization of $18.34 billion. ALGN&#39;s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 5.92%.
Let&#39;s delve deeper.
<h3>Upsides</h3>
Invisalign Portfolio Expansion: Following its FDA clearance for broad patient applicability, including growing children, teens and adults in late 2023, the IPE system was commercially launched in the United States and Canada in the first quarter of 2024. Recently, it received regulatory clearance in Australia and New Zealand as well. The company is also set to introduce ClinCheck smile video, the next generation of In-Face digitalization with AI-assisted video, which will be available to all doctors using the Invisalign Practice App and ClinCheck treatment planning software.
Earlier in 2023, Align Technology launched a new doctor-enabled direct ship-to-patient feature in its Vivera Retainer Subscription platform, and expanded the Invisalign Comprehensive Three and Three product in APAC countries such as China, Hong Kong, Korea, Taiwan and India.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/35/70709.jpg?v=1218021748" />
Image Source: Zacks Investment Research
Additionally, in the first quarter of 2024, the company&#39;s Super Bowl campaign featuring athletes, TikTok, GenZ influencers and fashion designers generated more than 6.1 billion impressions and 18.1 million unique visitors to its consumer websites across the United States. Consumer advertising across the APAC region resulted in more than 6.6 billion impressions and 16 million website visitors, marking a 195% increase from the year-ago quarter&#39;s level.
Geographic Expansion Continues:&nbsp;Align Technology is expanding its sales and marketing by reaching new countries and regions, including new areas within Africa and Latin America. By the end of 2023, the company sold directly or through authorized distributors in more than 100 countries. With the opening of its third clear aligner fabrication facility in Wroclaw, Poland, ALGN now has a manufacturing facility in each of its operating territories &mdash; Americas (Mexico), APAC (China) and EMEA (Poland).
The company also performs digital treatment planning and interpretation for restorative cases worldwide, including Costa Rica, China, Germany, Spain, Poland, and Japan, among others. Align Technology continues to expand its business through investments in resources, infrastructure and initiatives that help drive growth in Invisalign treatment, intraoral scanners and Exocad CAD/CAM software in existing and new international markets. Its Invisalign Comprehensive Three and Three product is currently available in North America and certain markets in EMEA and APAC, and most recently expanded to French territories and the Middle East.
Strong Solvency, Attractive Returns to Investors: With no debt on its balance sheet, Align Technology looks quite comfortable from the liquidity point of view. The company closed the first quarter of 2024 with $899 million in cash, cash equivalents cash, and short-term marketable securities.
In addition, Align Technology&#39;s January 2023 $1 billion stock repurchase program has $650 million available, with up to $150 million of stock buybacks planned in the second quarter, either through a combination of open market repurchase or an accelerated stock repurchase agreement.
<h3>Downsides</h3>
Macroeconomic Concerns: Although the company is gradually coming out of the impact of the two-and-a-half-year-long healthcare crisis, it still faces challenges from the industry-wide staffing shortages and supply chain. Added to this, Align Technology faces increased challenges from macroeconomic uncertainty due to the ongoing Russia-Ukraine conflict and the potential supply issues related to the war in the Middle East.
Overdependence on Invisalign Technology System:&nbsp;A major portion of Align Technology&#39;s net revenues depends on the sale of its Invisalign Technology System, primarily Invisalign Technology Full and Invisalign Technology Teen. Therefore, continued and widespread market acceptance of Invisalign Technology by orthodontists, GPs and consumers is critical to the company&#39;s future success. Management fears that if consumers start preferring a competitive product over Invisalign, ALGN&#39;s operating results may suffer.
<h3>Estimate Trend</h3>
The Zacks Consensus Estimate for Align Technology&#39;s 2024 earnings per share has remained constant at $9.60 in the past 30 days.
The Zacks Consensus Estimate for the company&#39;s 2024 revenues is pegged at 4.13 billion, implying a 6.8% rise from the year-ago reported number.
<h3>Key Picks</h3>
Some better-ranked stocks in the broader medical space are Hims &amp; Hers Health (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>), Medpace (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/medp#NASDAQ">MEDP</a>) and Penumbra (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pen#NYSE">PEN</a>).
Hims &amp; Hers Health&#39;s earnings are expected to surge 281.8% in 2024 compared with the industry&#39;s 15.7% growth. HIMS&#39; earnings surpassed estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. Its shares have surged 141.3% against the industry&#39;s 27.1% decline in the past year.
HIMS sports a Zacks Rank #1 (Strong Buy) at present.
Medpace, carrying a Zacks Rank #2 (Buy) at present, has an estimated 2024 earnings growth rate of 27.1% compared with the industry&#39;s 13.1%. Shares of MEDP have rallied 66.4% compared with the industry&#39;s 5% growth over the past year.
MEDP&#39;s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.
Penumbra, carrying a Zacks Rank #2 at present, has an estimated 2024 earnings growth rate of 37.3% compared with the industry&#39;s 11.9%. Shares of PEN have lost 45.3% against the industry&#39;s 0.6% growth over the past year.
The company&#39;s revenues are expected to grow 14.2% year over year in the second quarter of 2024. PEN delivered a trailing four-quarter average earnings surprise of 25.9%.
<a href="https://www.zacks.com/stock/news/2298287/here-s-why-holding-align-technology-algn-stock-could-pay-off?cid=CS-BENZ-FT-analyst_blog|rank_focused-2298287">To read this article on Zacks.com click here.</a>

ALGN

Hims & Hers Health, Inc. Class A Common Stock

HIMS

MEDP

Here's Why Holding Align Technology Stock Could Pay Off

RBC Capital analyst Jon Arfstrom maintains BankUnited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKU#NYSE">BKU</a>) with a Sector Perform and raises the price target from $29 to $31.

RBC Capital Maintains Sector Perform on BankUnited, Raises Price Target to $31

NCLH

Port And City Of Galveston Affected By Power Outages After Hurricane Beryl; Vessel Operations Suspended With Case-By-Case Considerations; At Least One Cruise Ship Cleared To Dock On Tuesday; Cargo Operations Suspended Pending U.S. Coast Guard Review

B of A Securities analyst Michael Ryskin initiates coverage on Tempus AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) with a Buy rating and announces Price Target of $41.

B of A Securities Initiates Coverage On Tempus AI with Buy Rating, Announces Price Target of $41

Equinor ASA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqnr#NYSE">EQNR</a>), a Norwegian energy giant, has achieved a milestone with the commencement of production from the first well in its ambitious five-well tie-back project on the Norwegian Continental Shelf. This initiative is a tie-back to an existing offshore platform in the Norwegian Sea, highlighting Equinor&#39;s strategic focus on leveraging the existing infrastructure.
<h3>Project Background and Milestones</h3>
The journey began in 2021 when Equinor and its partners submitted the Plan for Development and Operation (&quot;PDO&quot;) for the Lavrans and Kristin Q discoveries as satellite extensions to the Kristin field. The PDO for the first phase of the Kristin South project received approval in 2022, and production from the first Lavrans well commenced on Jul 7, 2024.
Trond Bokn, Equinor&#39;s senior vice president for Project Development, emphasized that the Kristin South project illustrates the company&#39;s strategy to enhance value through the utilization of existing infrastructure on the Norwegian Continental Shelf. EQNR, in collaboration with partners and suppliers, has successfully initiated production from Lavrans.
<h3>Operational Details</h3>
The project saw the installation of a new subsea template tied into the Kristin platform, now processing oil and gas from the first Lavrans well. The produced gas is exported through the pipeline system to the European market, while the oil is transferred by ship via the Asgard C storage vessel.
The Kristin South project&#39;s first phase includes four additional wells &mdash; three at the Lavrans field and one in the Q-segment at the Kristin field. The expected output from this phase is 6.2 GSm&sup3; of gas and 1.9 MSm&sup3; of oil, totaling 58.2 million barrels of oil equivalent.
Grete B. Haaland, Equinor&#39;s senior vice president for Exploration &amp; Production North, underscored the broader significance of this project. She highlighted that it represents a milestone in the company&#39;s strategy to develop new resources in a mature area of the Norwegian Sea. Integrating additional resources into existing hubs is seen as a cost-effective method to increase production and prolong the operational lifespan of EQNR&#39;s fields, thereby contributing to energy security and employment opportunities in Norway.
<h3>Environmental and Economic Impact</h3>
Notably, the CO2 intensity of Kristin South Phase 1&#39;s extraction and production is remarkably low, at less than 1 kg of CO2 per barrel of oil equivalent. Emissions are primarily generated from drilling activities. The project has also bolstered the Norwegian economy, with more than 60% of the contract values in the development phase awarded to Norwegian suppliers. The project is expected to have created approximately 4,000 person-years of employment across Norway, with 800 in the Mid-Norway region, during 2020-2025.
<h3>Key Contractors and Prospects</h3>
The project has engaged several prominent contractors, including Aker Solutions/OneSubsea for subsea production facilities, TechnipFMC for pipeline fabrication and subsea installation, Aibel for platform modification and Transocean as the rig provider, with the Transocean Spitsbergen semi-submersible designated for the task.
Discovered in 1995, the Lavrans and the Kristin fields, operational since 2005, have a technical lifetime of upto 2043, with potential for further extensions. The Kristin South project partners include Equinor Energy (54.82%, operator), Petoro (22.52%), Var Energi (16.66%) and TotalEnergies EP Norge (6%).
Torger Rod, Var Energi&#39;s chief operating officer, commended Equinor for the successful and safe initiation of production from the first Lavrans well in the Kristin South project. He highlighted this achievement as a notable example of effectively developing challenging discoveries to achieve profitable, low-emission production. This is in sync with Var Energi&#39;s goal of reaching approximately 400 thousand barrels of oil equivalent per day by the end of 2025.
<h3>Zacks Rank &amp; Key Picks</h3>
Equinor currently carries a Zacks Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like Hess Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hes#NYSE">HES</a>), Sunoco LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>) and SM Energy Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sm#NYSE">SM</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
Hess is a leading oil and natural gas exploration and production company that made several world-class oil discoveries in the Stabroek Block, located off the coast of Guyana.&nbsp;The company is currently in the process of being acquired by supermajor Chevron in an all-stock deal worth $53 billion. The merger will likely result in the creation of an energy behemoth with a massive portfolio of producing assets.&nbsp;
The Zacks Consensus Estimate for HES&#39; 2024 EPS is pegged at $10.28. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company&#39;s attractive oil and gas investments should create long-term value for shareholders.
The Zacks Consensus Estimate for SM&#39;s 2024 EPS is pegged at $6.95. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2025 in the past seven days.
<a href="https://www.zacks.com/stock/news/2298286/equinor-eqnr-launches-first-of-five-wells-offshore-norway?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2298286">To read this article on Zacks.com click here.</a>

EQNR

Equinor Launches First of Five Wells Offshore Norway

Magnificent Seven Drive 2023 U.S. Large Caps - And Spotlight Index Profitability Rules

Rate Decreases: Be Careful What You Wish For?

Why U.S. Large Cap Growth's Banner Year Didn't Look The Same Across Index Providers

TCW Transform 500 ETF declares $0.1855 dividend

Weekly Market Pulse: A New Paradigm?

Large-Cap Growth: Managing Risk And Seeking Consistent Returns

The More Things Stay The Same

Higher Correlation Of Multi-Asset Returns - Temporary Legacy Of Covid Or Permanent Change?

Engine No. 1 Transform 500 ETF declares quarterly distribution of $0.2024

Taking Stock: Q3 2024 Equity Market Outlook

ACSI

ACVF

AESR

AFLG

AFMC

AFSM

AMZN

APRT

APRW

ARKK

ARMR

AVUS

AVUV

BAPR

BBUS

BIBL

BKLC

BMAR

BMAY

BUZZ

BWVTF

CATH

CCRV

CHGX

CMDY

COIN

COMB

COMT

CRWD

DBJA

DEMZ

DFAU

DGRW

DJCB

DSJA

DSTL

DUSA

DVOL

DYNF

EFIV

EQWL

ESGA

ESGN

ESGU

ESGV

ESGY

EUSA

FAAR

FCPI

FCTR

FDLO

FDWM

FLLV

FLQL

FLRG

FMIL

FQAL

FSST

FTCS

FTGC

GOOG

GOOGL

GSEW

GSLC

GSPY

GSUS

HKND

HLAL

HUSV

HYBB

HYXU

ILCB

IQSU

ITAN

ITOT

IVOO

IVOV

JANT

JANW

JCTR

JHML

JOET

JPUS

JQUA

JULT

JULW

JUST

KRMA

LCTU

LFEQ

LGLV

LSAF

LTPZ

LVOL