Xtrackers California Municipal Bonds ETF (NASDAQ: CA)

Ultime notizie per Xtrackers California Municipal Bonds ETF (NASDAQ:CA)

CA Inc. - Common Stock

CA Inc.

NASDAQ

The fund, using a passive or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the ICE AMT-Free Broad Liquid California Municipal Index (the Underlying Index), which tracks the performance of U.S. dollar denominated investment grade tax-exempt debt publicly issued in the U.S. domestic market by the state of California and its political subdivisions.

Xtrackers California Municipal Bond ETF

U.S. regional bank stocks have seen a significant uptrend over the recent weeks, reaching levels reminiscent of those during the onset of the Silicon Valley <a href="https://www.benzinga.com/topic/regional-banks">Bank crisis in March</a>.
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), a pivotal gauge tracking more than a hundred industry players, has surged 35% in the past two months, marking its strongest two-month rally since January 2021. 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1.png" alt="" class="wp-image-165951" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The rally of regional banks has been bolstered by the gradual improvements in financial conditions in the United States, largely attributed to the Federal Reserve&#8217;s recent shift towards a more <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36227799/feds-unexpected-dovish-signals-spark-market-euphoria-economists-weigh-in">accommodating monetary policy stance.</a>
Previously, elevated interest rates had placed regional banks in a precarious position. Declining loan demand and rising funding costs had exerted significant pressure on these banks&#8217; net interest margins (NIM).
However, the anticipated decrease in interest rates for 2024 has played a pivotal role in alleviating the strain on regional banks, propelling them to become one of the industries with the most robust performances in the recent market phase.
<h2 class="wp-block-heading">Key Contributors To Regional Bank Rally</h2>
Upon analyzing the KRE ETF constituents, ten regional banks have reported returns exceeding 40% in the last three months:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<th>Name</th>
<th>Price Chg. % (3M)</th>
<th>Price Chg. % (1M)</th>
</tr>
<tr>
<td>Customers Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>)</td>
<td>77.42%</td>
<td>25.50%</td>
</tr>
<tr>
<td>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</td>
<td>58.17%</td>
<td>43.82%</td>
</tr>
<tr>
<td>Glacier Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>)</td>
<td>56.21%</td>
<td>27.52%</td>
</tr>
<tr>
<td>Lakeland Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NYSE">LKFN</a>)</td>
<td>47.86%</td>
<td>17.09%</td>
</tr>
<tr>
<td>Live Oak Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>)</td>
<td>46.86%</td>
<td>31.71%</td>
</tr>
<tr>
<td>Bank of Hawaii Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOH#NYSE">BOH</a>)</td>
<td>46.20%</td>
<td>28.66%</td>
</tr>
<tr>
<td>FB Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBK#NYSE">FBK</a>)</td>
<td>44.83%</td>
<td>20.13%</td>
</tr>
<tr>
<td>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>)</td>
<td>44.30%</td>
<td>20.42%</td>
</tr>
<tr>
<td>Independent Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NYSE">IBCP</a>)</td>
<td>43.95%</td>
<td>18.13%</td>
</tr>
<tr>
<td>Premier Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NYSE">PFC</a>)</td>
<td>42.28%</td>
<td>17.05%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">2024 Economic Outlook </h2>
Regional banks tend to flourish in an environment of solid economic growth, moderate inflation, and decreasing interest rates. 
Conversely, stagflation — characterized by stagnant economic growth paired with rising inflation — can be detrimental to the sector due to lower loan growth and potentially higher deposit interest rates.
A recession coupled with low-interest rates could create a complex scenario for the industry, possibly favoring only the larger, more robust banks. While a slow economy reduces loan demand, banks may benefit from decreased costs.
The latest projections from the Fed suggest a moderate US economic growth of 1.4% in 2024, slightly below the trend and well under the 2.6% growth seen in 2023.
Inflation is expected to decrease to 2.4% by the end of 2024, still marginally above the Fed&#8217;s 2% target. Additionally, the federal funds rate is projected to be cut by 75 basis points to 4.6%, with market expectations leaning towards even steeper rate reductions.
Read now: <a href="https://www.benzinga.com/news/large-cap/23/12/36330887/5-etfs-to-keep-an-eye-on-as-market-anticipates-feds-preferred-inflation-gauge-this-friday">5 ETFs To Keep An Eye On As Market Anticipates Fed&#8217;s Preferred Inflation Gauge This Friday</a>
Image: Shutterstock

Mid Cap

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Small Cap

Econ #s

Economics

ETFs

CADE

CUBI

GBCI

IBCP

LKFN

US Regional Banks Set To Erase All Losses Post SVB Fallout: Can They Maintain Momentum In 2024?

Why this information is important: Some types of traders look for momentum in a stock to follow through during the next trading day. A momentum trader may start with a list of stocks which set a new 52-week high over the last day or two, and reduce the list by focusing on stocks which match their strategy or style. Contrarily, another kind of trader may look at stocks recently hitting new 52-week highs as an opportunity for more downside. This kind of trader may use a list of 52-week highs as a way to identify stocks which could have the most room to fall.
<ul>
<li>Allakos (NASDAQ:<a class="ticker" href="/stock/ALLK#NASDAQ">ALLK</a>) - marked a new 52-week high at 49.22</li>
<li>Ameresco (NYSE:<a class="ticker" href="/stock/AMRC#NYSE">AMRC</a>) - marked a new 52-week high at 15.42</li>
<li>Aon (NYSE:<a class="ticker" href="/stock/AON#NYSE">AON</a>) - marked a new 52-week high at 159.72</li>
<li>Popular (NASDAQ:<a class="ticker" href="/stock/BPOP#NASDAQ">BPOP</a>) - marked a new 52-week high at 53.02</li>
<li>Burlington Stores (NYSE:<a class="ticker" href="/stock/BURL#NYSE">BURL</a>) - marked a new 52-week high at 177.23</li>
<li>CA (NASDAQ:<a class="ticker" href="/stock/CA#NASDAQ">CA</a>) - marked a new 52-week high at 44.39</li>
<li>CONSOL Coal Resources (NYSE:<a class="ticker" href="/stock/CCR#NYSE">CCR</a>) - marked a new 52-week high at 19.95</li>
<li>CDW (NASDAQ:<a class="ticker" href="/stock/CDW#NASDAQ">CDW</a>) - marked a new 52-week high at 90.52</li>
<li>Cincinnati Financial (NASDAQ:<a class="ticker" href="/stock/CINF#NASDAQ">CINF</a>) - marked a new 52-week high at 79.685</li>
<li>China Jo-Jo Drugstores (NASDAQ:<a class="ticker" href="/stock/CJJD#NASDAQ">CJJD</a>) - marked a new 52-week high at 2.06</li>
<li>CME Group (NASDAQ:<a class="ticker" href="/stock/CME#NASDAQ">CME</a>) - marked a new 52-week high at 183.8</li>
<li>Core-Mark Holding Co (NASDAQ:<a class="ticker" href="/stock/CORE#NASDAQ">CORE</a>) - marked a new 52-week high at 39.9599</li>
<li>ChaSerg Technology (NASDAQ:<a class="ticker" href="/stock/CTAC#NASDAQ">CTAC</a>) - marked a new 52-week high at 9.55</li>
<li>Chicago Rivet &amp; Machine Co. Common Stock (NYSE:<a class="ticker" href="/stock/CVR#NYSE">CVR</a>) - marked a new 52-week high at 33.8</li>
<li>Deckers Outdoor (NYSE:<a class="ticker" href="/stock/DECK#NYSE">DECK</a>) - marked a new 52-week high at 130.015</li>
<li>Denny&#39;s (NASDAQ:<a class="ticker" href="/stock/DENN#NASDAQ">DENN</a>) - marked a new 52-week high at 17.79</li>
<li>Destination XL Group (NASDAQ:<a class="ticker" href="/stock/DXLG#NASDAQ">DXLG</a>) - marked a new 52-week high at 3.18</li>
<li>Endocyte (NASDAQ:<a class="ticker" href="/stock/ECYT#NASDAQ">ECYT</a>) - marked a new 52-week high at 23.74</li>
<li>Erie Indemnity (NASDAQ:<a class="ticker" href="/stock/ERIE#NASDAQ">ERIE</a>) - marked a new 52-week high at 131.8</li>
<li>Electro Scientific Indus (NASDAQ:<a class="ticker" href="/stock/ESIO#NASDAQ">ESIO</a>) - marked a new 52-week high at 28.74</li>
<li>Express Scripts Holding (NASDAQ:<a class="ticker" href="/stock/ESRX#NASDAQ">ESRX</a>) - marked a new 52-week high at 97.24</li>
<li>Genomic Health (NASDAQ:<a class="ticker" href="/stock/GHDX#NASDAQ">GHDX</a>) - marked a new 52-week high at 72.89</li>
<li>Gilat Satellite Networks (NASDAQ:<a class="ticker" href="/stock/GILT#NASDAQ">GILT</a>) - marked a new 52-week high at 9.58</li>
<li>Gamida Cell (NASDAQ:<a class="ticker" href="/stock/GMDA#NASDAQ">GMDA</a>) - marked a new 52-week high at 10.16</li>
<li>GTY Technology Holdings (NASDAQ:<a class="ticker" href="/stock/GTYH#NASDAQ">GTYH</a>) - marked a new 52-week high at 10.3</li>
<li>Global Water Resources (NASDAQ:<a class="ticker" href="/stock/GWRS#NASDAQ">GWRS</a>) - marked a new 52-week high at 11.15</li>
<li>HCP (NYSE:<a class="ticker" href="/stock/HCP#NYSE">HCP</a>) - marked a new 52-week high at 27.79</li>
<li>Hormel Foods (NYSE:<a class="ticker" href="/stock/HRL#NYSE">HRL</a>) - marked a new 52-week high at 43.9798</li>
<li>Huron Consulting Group (NASDAQ:<a class="ticker" href="/stock/HURN#NASDAQ">HURN</a>) - marked a new 52-week high at 51.72</li>
<li>Imprimis Pharmaceuticals (NASDAQ:<a class="ticker" href="/stock/IMMY#NASDAQ">IMMY</a>) - marked a new 52-week high at 4.46</li>
<li>World Fuel Services (NYSE:<a class="ticker" href="/stock/INT#NYSE">INT</a>) - marked a new 52-week high at 32.34</li>
<li>Intersections (NASDAQ:<a class="ticker" href="/stock/INTX#NASDAQ">INTX</a>) - marked a new 52-week high at 3.11</li>
<li>Nordstrom (NYSE:<a class="ticker" href="/stock/JWN#NYSE">JWN</a>) - marked a new 52-week high at 67.14</li>
<li>Lancaster Colony (NASDAQ:<a class="ticker" href="/stock/LANC#NASDAQ">LANC</a>) - marked a new 52-week high at 175.28</li>
<li>Grand Canyon Education (NASDAQ:<a class="ticker" href="/stock/LOPE#NASDAQ">LOPE</a>) - marked a new 52-week high at 124.22</li>
<li>McDonald&#39;s (NYSE:<a class="ticker" href="/stock/MCD#NYSE">MCD</a>) - marked a new 52-week high at 178.79</li>
<li>Merck &amp; Co (NYSE:<a class="ticker" href="/stock/MRK#NYSE">MRK</a>) - marked a new 52-week high at 73.5</li>
<li>Studio City International (NYSE:<a class="ticker" href="/stock/MSC#NYSE">MSC</a>) - marked a new 52-week high at 20.5</li>
<li>NeoGenomics (NASDAQ:<a class="ticker" href="/stock/NEO#NASDAQ">NEO</a>) - marked a new 52-week high at 18.2707</li>
<li>National General Holdings (NASDAQ:<a class="ticker" href="/stock/NGHC#NASDAQ">NGHC</a>) - marked a new 52-week high at 28.28</li>
<li>National HealthCare Corporation Common Stock (NYSE:<a class="ticker" href="/stock/NHC#NYSE">NHC</a>) - marked a new 52-week high at 81.975</li>
<li>PhaseBio Pharmaceuticals (NASDAQ:<a class="ticker" href="/stock/PHAS#NASDAQ">PHAS</a>) - marked a new 52-week high at 5.7985</li>
<li>Sprott Physical Gold Trust ETV (NYSE:<a class="ticker" href="/stock/PHYS#NYSE">PHYS</a>) - marked a new 52-week high at 9.78</li>
<li>QuinStreet (NASDAQ:<a class="ticker" href="/stock/QNST#NASDAQ">QNST</a>) - marked a new 52-week high at 16.43</li>
<li>Renewable Energy Group (NASDAQ:<a class="ticker" href="/stock/REGI#NASDAQ">REGI</a>) - marked a new 52-week high at 31.98</li>
<li>Ross Stores (NASDAQ:<a class="ticker" href="/stock/ROST#NASDAQ">ROST</a>) - marked a new 52-week high at 100.82</li>
<li>Scottish Investment Trust (NYSE:<a class="ticker" href="/stock/SCIN#NYSE">SCIN</a>) - marked a new 52-week high at 14.2063</li>
<li>SecureWorks (NASDAQ:<a class="ticker" href="/stock/SCWX#NASDAQ">SCWX</a>) - marked a new 52-week high at 15.8973</li>
<li>Selective Insurance Group (NASDAQ:<a class="ticker" href="/stock/SIGI#NASDAQ">SIGI</a>) - marked a new 52-week high at 67.12</li>
<li>Standard Motor Products (NYSE:<a class="ticker" href="/stock/SMP#NYSE">SMP</a>) - marked a new 52-week high at 56.01</li>
<li>SMTC (NASDAQ:<a class="ticker" href="/stock/SMTX#NASDAQ">SMTX</a>) - marked a new 52-week high at 3.19</li>
<li>Trinity Merger (NASDAQ:<a class="ticker" href="/stock/TMCX#NASDAQ">TMCX</a>) - marked a new 52-week high at 9.88</li>
<li>Veracyte (NASDAQ:<a class="ticker" href="/stock/VCYT#NASDAQ">VCYT</a>) - marked a new 52-week high at 12.88</li>
<li>Xilinx (NASDAQ:<a class="ticker" href="/stock/XLNX#NASDAQ">XLNX</a>) - marked a new 52-week high at 84.0</li>
</ul>

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ALLK

AMRC

BPOP

BURL

CINF

CJJD

CORE

CTAC

DECK

DENN

DXLG

ECYT

ERIE

ESIO

ESRX

GHDX

GILT

GMDA

GTY Technology Holdings, Inc. - Class A Ordinary Shares

GTYH

GWRS

HURN

IMMY

INTX

LANC

LOPE

NGHC

PHAS

PHYS

QNST

REGI

ROST

Emerging Global Shares INDXX India Small Cap Fund

SCIN

SCWX

SIGI

SMTX

TMCX

VCYT

XLNX

Stocks Which Set New 52-Week High Yesterday, October 31st

News

AVGO

KEYS

LGND

S&P Dow Jones Indices Announces Keysight Technologies Set to Join S&P 500; Ligand Pharmaceuticals to Join S&P MidCap 400; Marcus & Millichap and Arcosa to Join S&P SmallCap 600

11:47:35am ROST new 52 week high of $100.61 11:47:34am MKC new 52 week high of $143.65 11:43:43am JWN new 52 week high of $66.34 11:41:58am UDR new 52 week high of $41.05 11:39:14am CA new 52 week high of $44.31 11:21:21am SPG new 52 week high of $186.05 10:27:09am HCP new 52 week high of $27.6262 9:58:30am CBOE new 52 week high of $110.0334 9:36:04am HRL new 52 week high of $43.0 9:33:38am AMT new 52 week high of $155.41 9:30:10am O new 52 week high of $61.4

Movers

Stocks That Made New 52-Week Highs So Far Today Include: Ross Stores, McCormick, Nordstrom, UDR, CA, Simon Property Group, HCP, Hormel Foods, American Tower, and Realty Income

Why this information is important: Some types of traders look for momentum in a stock to follow through during the next trading day. A momentum trader may start with a list of stocks which set a new 52-week high over the last day or two, and reduce the list by focusing on stocks which match their strategy or style. Contrarily, another kind of trader may look at stocks recently hitting new 52-week highs as an opportunity for more downside. This kind of trader may use a list of 52-week highs as a way to identify stocks which could have the most room to fall.
<ul>
<li>Cambium Learning Group (NASDAQ:<a class="ticker" href="/stock/ABCD#NASDAQ">ABCD</a>) - marked a new 52-week high at 14.44</li>
<li>Agree Realty (NYSE:<a class="ticker" href="/stock/ADC#NYSE">ADC</a>) - marked a new 52-week high at 57.56</li>
<li>Amarin Corp (NASDAQ:<a class="ticker" href="/stock/AMRN#NASDAQ">AMRN</a>) - marked a new 52-week high at 23.09</li>
<li>ATN International (NASDAQ:<a class="ticker" href="/stock/ATNI#NASDAQ">ATNI</a>) - marked a new 52-week high at 84.85</li>
<li>BioDelivery Sciences Intl (NASDAQ:<a class="ticker" href="/stock/BDSI#NASDAQ">BDSI</a>) - marked a new 52-week high at 3.91</li>
<li>Banco Santander (Brasil) (NYSE:<a class="ticker" href="/stock/BSBR#NYSE">BSBR</a>) - marked a new 52-week high at 12.21</li>
<li>CA (NASDAQ:<a class="ticker" href="/stock/CA#NASDAQ">CA</a>) - marked a new 52-week high at 44.27</li>
<li>CONSOL Coal Resources (NYSE:<a class="ticker" href="/stock/CCR#NYSE">CCR</a>) - marked a new 52-week high at 19.874</li>
<li>Core-Mark Holding Co (NASDAQ:<a class="ticker" href="/stock/CORE#NASDAQ">CORE</a>) - marked a new 52-week high at 38.64</li>
<li>Deckers Outdoor (NYSE:<a class="ticker" href="/stock/DECK#NYSE">DECK</a>) - marked a new 52-week high at 124.74</li>
<li>DHT Holdings (NYSE:<a class="ticker" href="/stock/DHT#NYSE">DHT</a>) - marked a new 52-week high at 5.2</li>
<li>eHealth (NASDAQ:<a class="ticker" href="/stock/EHTH#NASDAQ">EHTH</a>) - marked a new 52-week high at 34.34</li>
<li>Erie Indemnity (NASDAQ:<a class="ticker" href="/stock/ERIE#NASDAQ">ERIE</a>) - marked a new 52-week high at 131.09</li>
<li>Frontline (NYSE:<a class="ticker" href="/stock/FRO#NYSE">FRO</a>) - marked a new 52-week high at 7.24</li>
<li>Gilat Satellite Networks (NASDAQ:<a class="ticker" href="/stock/GILT#NASDAQ">GILT</a>) - marked a new 52-week high at 9.39</li>
<li>Gamida Cell (NASDAQ:<a class="ticker" href="/stock/GMDA#NASDAQ">GMDA</a>) - marked a new 52-week high at 9.0</li>
<li>Gritstone Oncology (NASDAQ:<a class="ticker" href="/stock/GRTS#NASDAQ">GRTS</a>) - marked a new 52-week high at 17.5</li>
<li>Hunter Maritime (NASDAQ:<a class="ticker" href="/stock/HUNT#NASDAQ">HUNT</a>) - marked a new 52-week high at 10.09</li>
<li>Integrated Device Tech (NASDAQ:<a class="ticker" href="/stock/IDTI#NASDAQ">IDTI</a>) - marked a new 52-week high at 49.25</li>
<li>JetPay (NASDAQ:<a class="ticker" href="/stock/JTPY#NASDAQ">JTPY</a>) - marked a new 52-week high at 5.01</li>
<li>Lancaster Colony (NASDAQ:<a class="ticker" href="/stock/LANC#NASDAQ">LANC</a>) - marked a new 52-week high at 166.6</li>
<li>Monro (NASDAQ:<a class="ticker" href="/stock/MNRO#NASDAQ">MNRO</a>) - marked a new 52-week high at 76.59</li>
<li>NeoGenomics (NASDAQ:<a class="ticker" href="/stock/NEO#NASDAQ">NEO</a>) - marked a new 52-week high at 16.0</li>
<li>National Retail Props (NYSE:<a class="ticker" href="/stock/NNN#NYSE">NNN</a>) - marked a new 52-week high at 47.74</li>
<li>Netsol Technologies (NASDAQ:<a class="ticker" href="/stock/NTWK#NASDAQ">NTWK</a>) - marked a new 52-week high at 8.52</li>
<li>Realty Income (NYSE:<a class="ticker" href="/stock/O#NYSE">O</a>) - marked a new 52-week high at 60.545</li>
<li>Sprott Physical Gold Trust ETV (NYSE:<a class="ticker" href="/stock/PHYS#NYSE">PHYS</a>) - marked a new 52-week high at 9.9199</li>
<li>Revlon (NYSE:<a class="ticker" href="/stock/REV#NYSE">REV</a>) - marked a new 52-week high at 27.75</li>
<li>Spirit Airlines (NYSE:<a class="ticker" href="/stock/SAVE#NYSE">SAVE</a>) - marked a new 52-week high at 53.5</li>
<li>Scottish Investment Trust (NYSE:<a class="ticker" href="/stock/SCIN#NYSE">SCIN</a>) - marked a new 52-week high at 13.9889</li>
<li>Standard Motor Products (NYSE:<a class="ticker" href="/stock/SMP#NYSE">SMP</a>) - marked a new 52-week high at 52.37</li>
<li>StoneCo (NASDAQ:<a class="ticker" href="/stock/STNE#NASDAQ">STNE</a>) - marked a new 52-week high at 32.24</li>
<li>Trinity Merger (NASDAQ:<a class="ticker" href="/stock/TMCX#NASDAQ">TMCX</a>) - marked a new 52-week high at 9.88</li>
<li>Tractor Supply (NASDAQ:<a class="ticker" href="/stock/TSCO#NASDAQ">TSCO</a>) - marked a new 52-week high at 92.5</li>
<li>Summit Wireless (NASDAQ:<a class="ticker" href="/stock/WISA#NASDAQ">WISA</a>) - marked a new 52-week high at 5.57</li>
<li>Zix (NASDAQ:<a class="ticker" href="/stock/ZIXI#NASDAQ">ZIXI</a>) - marked a new 52-week high at 6.99</li>
</ul>

ABCD

AMRN

ATNI

BDSI

BSBR

EHTH

GRTS

Hunter Maritime Acquisition Corp. - Class A Common Stock

HUNT

IDTI

JTPY

MNRO

NTWK

SAVE

STNE

TSCO

WISA

ZIXI

Stocks Which Set New 52-Week High Yesterday, October 29th

<a href="https://www.axios.com/fake-memo-broadcom-ca-technologies-takeover-86ac30a8-0889-4bac-a7f6-17213d05812f.html?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=organic&amp;utm_content=1100" title="https://www.axios.com/fake-memo-broadcom-ca-technologies-takeover-86ac30a8-0889-4bac-a7f6-17213d05812f.html?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=organic&amp;utm_content=1100">https://www.axios.com/fake-memo-broadcom-ca-technologies-takeover-86ac30a8-0889-4bac-a7f6-17213d05812f.html?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=organic&amp;utm_content=1100</a>

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'Go deeper: The "fake" memo on Broadcom's CA Technologies takeover' -Axios

Broadcom Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) in July announced a $19-billion acquisition of CA Technologies (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ca#NASDAQ">CA</a>) (formerly known as Computer Associates Technologies) in an attempt to build a leading infrastructure technology company.
Earlier this year, President Trump blocked Broadcom&#39;s acquisition attempt of Qualcomm Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>), expressing the national security concerns surrounding 5G networking and the company&rsquo;s ties to China. On Wednesday, <a href="https://www.axios.com/rand-paul-national-security-review-broadcom-ca-merger-92238894-6f0c-4846-b005-6c6bd584d10a.html">Axios reported</a> Sen. Rand Paul called for a federal national security review of the CA acquisition.
<h3>What Happened</h3>
Following Paul&rsquo;s statement, Broadcom released a statement explaining both the validity of the acquisition, as well as the announcement of a fraudulent memo that allegedly circulated around Congress.
&ldquo;We have learned that a fraudulent memo purported to be signed by the U.S. Department of Defense (&quot;DoD&quot;) is circulating among Senators and members of Congress referencing the possible need for review of Broadcom&#39;s acquisition of CA Technologies by the Committee on Foreign Investment in the United States (&quot;CFIUS&quot;). We have been informed by DoD officials that this memo is in fact a forged document.&rdquo;
<h3>Why It&rsquo;s Important</h3>
According to the statement, there&#39;s no basis for legal review of the pending transaction since both companies are based in the U.S.
&ldquo;We have received HSR clearance and the approval of CA shareholders, and we have a clear path to completing the transaction in the fourth calendar quarter of 2018.&rdquo;
Shortly after Broadcom released its statement, Rand Paul&#39;s c<a href="https://twitter.com/dougstafford/status/1050069443882176512">hief strategist tweeted</a>, &quot;No one here has seen a memo or basing the need for CFIUS review on anything other than the obvious national security implications of this merger. Broadcom had national security issues in a CFIUS review just earlier this year and this review should be undertaken immediately.&quot;
Broadcom and CA shares traded lower Wednesday, both down about 2.5 percent at time of publication.
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/09/12321364/broadcom-is-bairds-new-top-large-cap-semi-pick">Broadcom Is Baird&#39;s New Top Large-Cap Semi Pick</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/09/12363549/nomura-upgrades-broadcom-sees-dividend-hike-ahead">Nomura Upgrades Broadcom, Sees Dividend Hike Ahead</a>
Photo credit: <a href="https://www.flickr.com/photos/adlerweb/35761930473">Floirian Knodt, Flickr</a>

Government

Regulations

Media

QCOM

Broadcom Says A Fraudulent DoD Memo Circulated Among Senators, Congress

Politics

General

Kentucky Senator Rand Paul Says CFIUS Should Review Broadcom Deal 'Immediately'

We have learned that a fraudulent memo purported to be signed by the U.S. Department of Defense (&quot;DoD&quot;) is circulating among Senators and members of Congress referencing the possible need for review of Broadcom&#39;s acquisition of CA Technologies (NASDAQ:<a class="ticker" href="/stock/CA#NASDAQ">CA</a>) by the Committee on Foreign Investment in the United States (&quot;CFIUS&quot;). We have been informed by DoD officials that this memo is in fact a forged document. Broadcom and CA Technologies are both American companies, and there is no basis in fact or law for CFIUS review of our pending transaction. We have received HSR clearance and the approval of CA shareholders, and we have a clear path to completing the transaction in the fourth calendar quarter of 2018.

Broadcom Says It Has Learned Of Fraudulent Statement Purported To Be Signed By US DOD Referencing Need For Review Of Co.'s CA Technologies Acquisition; Co. Says There Is No Basis For CFIUS Review, Has Clear Path Towards Completing Merger

As the U.S. equities market barrels into 2018&rsquo;s final quarter, the major indices are looking to finish the year pushing to new all-time highs after spending most of the year playing catch up following a late February correction. Subsequent stumbles in traditional bull market leaders like tech and banks stocks have made the bounce a months-long affair.
Now that the S&amp;P and Dow are both above their previous records, let&rsquo;s attempt to suss out which areas of the market are set to carry the year&rsquo;s gains past the finish line using some of the metrics and rankings available on <a href="https://www.finscreener.com/">Finscreener&rsquo;s proprietary stock screener</a>.
There are several approaches to stock analysis we can take with Finscreener&rsquo;s segmented screener categories, but we&rsquo;ll start with a look at which stocks are showing the strongest fundamental upside in the coming weeks into Q3 earnings.
<h3>Fundamental Leaders</h3>
Since we&rsquo;re just looking to get a flavor of which sectors might be best positioned for growth, we&rsquo;ll cast a wide net with our fundamental screen by looking at large cap stocks (+$2bn) above $5 on all three major indexes (NYSE, NASDAQ, AMEX).
To get a sense of which stocks have the highest growth potential, we&rsquo;ll limit the screen to those with +10 percent upside potential that have reached similar positive price moves over the past year by setting the 52-week price range ration to 10 percent or more. And, for a little extra perspective, let&rsquo;s also check for with a $+10 consensus price target. If we were looking for specific stocks, we could also set a range for all of the categories to narrow our results, but for now we&rsquo;ll keep our survey broad.
<a href="https://www.benzinga.com/files/u105576/screen_shot_2018-10-02_at_3.08.29_pm.png" onclick="imce.send('screen_shot_2018-10-02_at_3.08.29_pm.png'); return false;" title=""><img alt="screen_shot_2018-10-02_at_3.08.29_pm.png" src="https://www.benzinga.com/files/u105576/screen_shot_2018-10-02_at_3.08.29_pm.png" /></a>
You can see that, at the time of the writing, Nektar Pharmaceuticals (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nktr#NASDAQ">NKTR</a>) and Micron Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mu#NASDAQ">MU</a>) are leading the pack on upside potential, However, further down are a smattering of energy and utility outfits like Quanta Services, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pwr#NYSE">PWR</a>) and Pioneer Natural Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pxd#NYSE">PXD</a>), which seems to make a case for the continued strength in energy and utilities, particularly<a href="https://www.cnbc.com/2018/10/02/oil-markets-us-sanctions-on-iran-in-focus.html" style="text-decoration:none;"> given the projected upswing in oil prices</a> late in the year.
If you are more interested in what the experts expect from this contingent, you can sort the stocks by analyst outlook which reveals a slightly different picture, with financials like The Western Union Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wu#NYSE">WU</a>) and regional banks like Huntington Bancshares Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hban#NASDAQ">HBAN</a>) and Regions Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rf#NYSE">RF</a>) showing the most bullish growth over the coming quarter as interest rates are expected to rise.
<a href="https://www.benzinga.com/files/u105576/screen_shot_2018-10-02_at_3.27.06_pm.png" onclick="imce.send('screen_shot_2018-10-02_at_3.27.06_pm.png'); return false;" title=""><img alt="screen_shot_2018-10-02_at_3.27.06_pm.png" src="https://www.benzinga.com/files/u105576/screen_shot_2018-10-02_at_3.27.06_pm.png" /></a>
<h3>Technical Leaders</h3>
Of course, in the interest of equal time regulations, let&rsquo;s also take a look at some of the technical factors underlying the market. We&rsquo;ll keep the basic exchange, price and market cap metrics, but add some perspective on how some popular charting indicators might change the outlook.
In this case, We&rsquo;ll look for stocks that have shown positive return on capital as well as those that have also maintained a good momentum range without being overbought, as gauged by return on capital and cash flow index score.
<a href="https://www.benzinga.com/files/u105576/screen_shot_2018-10-02_at_4.55.15_pm.png" onclick="imce.send('screen_shot_2018-10-02_at_4.55.15_pm.png'); return false;" title=""><img alt="screen_shot_2018-10-02_at_4.55.15_pm.png" src="https://www.benzinga.com/files/u105576/screen_shot_2018-10-02_at_4.55.15_pm.png" /></a>
Sorted by those stocks with a mid-range money flow score, finance and again biotech seems to overwhelm the sweet spot on this screen, with Abbott Laboratories (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) and Eli Lilly and Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>) eing a few strong performers this year. Grouped within this selection are several IT names like Intuit Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intu#NASDAQ">INTU</a>) and CA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ca#NASDAQ">CA</a>) alongside financials CME Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cme#NASDAQ">CME</a>) and Unum Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unm#NYSE">UNM</a>). Finally, this breakdown also includes safety investments like energy concerns Pioneer, First Energy Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fe#NYSE">FE</a>) and consumer staples like Hormel Foods Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrl#NYSE">HRL</a>).
<h3>Finscreener Rankings</h3>
Finally, to cap off this unscientific survey of possible upcoming performance factors, let&rsquo;s take a look at Finscreener&rsquo;s own <a href="https://www.finscreener.com/screener/fs-stock-ranking/definition">proprietary ranking screen</a>, which take into consideration metrics from across, fundamental, technical, valuation management and dozens of other criteria to sort equity performance.
&nbsp;
<a href="https://www.benzinga.com/files/u105576/screen_shot_2018-10-02_at_5.09.43_pm.png" onclick="imce.send('screen_shot_2018-10-02_at_5.09.43_pm.png'); return false;" title=""><img alt="screen_shot_2018-10-02_at_5.09.43_pm.png" src="https://www.benzinga.com/files/u105576/screen_shot_2018-10-02_at_5.09.43_pm.png" /></a>
Materials names pepper the list, alongside stocks with healthcare exposure like Boston Scientific Corporation&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>) and Biomarin Pharmaceutical Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bmrn#NASDAQ">BMRN</a>). However, one familiar name again makes an appearance: Pioneer Natural Resources. Given this hat trick, as well as potential inflation occurring globally and the headwinds facing crude utilities might be in for a strong Q4.

Emerging Financial Technology Services Sector

Fintech

Topics

Markets

BMRN

HBAN

INTU

NKTR

3 Screens That Hint At Which Stocks May Outperform In Q4

Broadcom Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>)&#39;s second-quarter earnings were so good that one Wall Street analyst said they had no choice but to upgrade the semiconductor company.&nbsp;
<h3>The Analyst</h3>
Nomura Instinet analyst <a href="https://www.tipranks.com/analysts/romit-shah">Romit Shah</a> upgraded <a href="https://www.benzinga.com/stock/avgo">Broadcom</a> from <a href="https://www.benzinga.com/analyst-ratings/upgrades/18/09/12362788/benzingas-top-upgrades-downgrades-for-september-17-2018">Neutral to Buy</a> and raised the&nbsp;price target from $225 to $300.
<h3>The Thesis</h3>
Broadcom&rsquo;s controversial acquisition of CA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ca#NASDAQ">CA</a>) is actually starting to make sense, Shah said in the Monday upgrade note. (See his track record <a href="https://www.tipranks.com/analysts/romit-shah">here</a>.)&nbsp;
The company&#39;s strategy is to combine hardware, silicon and software to create unique intellectual property, the analyst said.&nbsp;CA also provides an opportunity for Broadcom to market its ASIC solutions and various hardware products, he said.&nbsp;
In addition to a bullish growth outlook, Shah said&nbsp;Broadcom&rsquo;s $8 billion in 2018 free cash flow will provide an opportunity for the company to boost its dividend payout to $9 per share, which would represent a generous yield of about 3.8 percent.
The analyst expects Broadcom to continue aggressively buying back stock.
Based on Nomura&rsquo;s 2019 and 2020 EPS estimates of $21.19 and $23.26 and Broadcom&rsquo;s long-term earnings multiple average of 13x, Shah said there is plenty of upside to the stock at its current price.
&ldquo;This multiple is based on earnings excluding stock comp. and might be conservative, as CA should boost gross margin above 70 percent&nbsp;while simultaneously lowering wireless revenue to less than 25 percent.&quot;&nbsp;
Broadcom&#39;s recent wireless guidance removes much of the potential uncertainty about wireless revenue growth in fiscal 2020, Shah said.&nbsp;
<h3>Price Action</h3>
Broadcom shares were trading up 0.17 percent to $236.70 at the time of publication Monday.&nbsp;
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/09/12337055/amds-setup-gives-rosenblatt-securities-deja-vu">AMD&#39;s Setup Gives Rosenblatt Securities Deja Vu</a> 
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/08/12257054/the-hot-chips-2018-conference-morgan-stanleys-takeaways">The Hot Chips 2018 Conference: Morgan Stanley&#39;s Takeaways</a>
Public domain photo via Wikimedia.&nbsp;

Analyst Color

Upgrades

Price Target

Analyst Ratings

Nomura Upgrades Broadcom, Sees Dividend Hike Ahead

CA Technologies Stockholders Approve Acquisition By Broadcom; CA Shareholders Will Receive $44.50/Share In Cash

Broadcom Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) <a href=" https://www.prnewswire.com/news-releases/broadcom-inc-announces-third-quarter-fiscal-year-2018-financial-results-and-quarterly-dividend-300708427.html"> reported</a>&nbsp;13-percent year-over-year third-quarter revenue growth and a&nbsp;21-percent increase in non-GAAP earnings per share on Thursday. The revenue was roughly in line with estimates, while the bottom line exceeded expectations.
The company issued in-line revenue and gross margin guidance for the fiscal fourth quarter.
<h3>The Analyst</h3>
Baird analyst <a href="https://www.tipranks.com/analysts/tristan-gerra">Tristan Gerra</a> reiterated an&nbsp;Outperform rating on <a href="https://www.benzinga.com/news/earnings/18/09/12320233/7-stocks-to-watch-for-september-7-2018">Broadcom </a> and increased the&nbsp;price target from $290 to $300.
Gera named Broadcom as Baird&#39;s top large-cap semiconductor idea.
<h3>The Thesis</h3>
An attractive valuation; secular growth trends in RF, which is likely to return to double-digit growth in 2020 due to 5G; anticipated share gains; a new Wi-Fi cycle; deep learning ASICs;&nbsp;storage; and other secular growth driver make Broadcom top large-cap semiconductor idea, Gerra said in a Friday note. (See the analyst&#39;s track record <a href="https://www.tipranks.com/analysts/tristan-gerra">here</a>.)&nbsp;
Broadcom is a&nbsp;particularly attractive value stock compared to more cyclical semi names, even as the sector adjusts to&nbsp;mid-single digit year-over-year growth into 2019, the analyst said.&nbsp;
Broadcom&#39;s <a href="http://https://www.benzinga.com/analyst-ratings/analyst-color/18/07/12012725/broadcom-shares-plummet-after-wall-street-questions-sud">acquisition</a> of&nbsp;CA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ca#NASDAQ">CA</a>) should&nbsp;add up to 20 percent to EPS, Gerra said &mdash; a figure the analyst said is not included in Baird&#39;s current estimates. Broadcom&nbsp;sees strong cross-selling synergies with CA&#39;s large enterprise customers, he said.&nbsp;
Broadcom expects ongoing expansion in gross margins for existing products, and operating margin growth as the gross margin ramp outruns R&amp;D spending, according to Baird.&nbsp;
<h3>The Price Action</h3>
Shares of Broadcom have lost about 15 percent&nbsp;year-to-date. The stock was rallying 8.3 percent to $233.90 at the time of publication Friday.&nbsp;
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/07/12030469/morgan-stanley-nvidia-the-cleanest-growth-story-in-semi">Morgan Stanley: Nvidia &#39;The Cleanest Growth Story In Semis,&#39; With New Products Ahead </a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/08/12173857/on-semiconductor-faces-potential-multiple-contraction-m">ON Semiconductor Faces Potential Multiple Contraction, Morgan Stanley Says In Downgrade </a>

Earnings

Reiteration

Broadcom Is Baird's New Top Large-Cap Semi Pick

Broadcom Reports Hart-Scott-Rodino Antitrust Improvements Act Expired Related To Proposed Deal With CA Technologies; Expiration Satisfies 1 Of The Conditions Required For Deal

CA (NASDAQ:<a class="ticker" href="/stock/CA#NASDAQ">CA</a>) reported quarterly earnings of $0.76 per share which beat the analyst consensus estimate of $0.68 by 11.76 percent. This is a 24.59 percent increase over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $1.052 billion which beat the analyst consensus estimate of $1.05 billion by 0.19 percent. This is a 2.63 percent increase over sales of $1.025 billion the same period last year.

CA Q1 EPS $0.76 Beats $0.68 Estimate, Sales $1.052B Beat $1.05B Estimate

Why this information is important: Some types of traders look for momentum in a stock to follow through during the next trading day. A momentum trader may start with a list of stocks which set a new 52-week high over the last day or two, and reduce the list by focusing on stocks which match their strategy or style. Contrarily, another kind of trader may look at stocks recently hitting new 52-week highs as an opportunity for more downside. This kind of trader may use a list of 52-week highs as a way to identify stocks which could have the most room to fall.
<ul>
<li>Archer-Daniels Midland (NYSE:<a class="ticker" href="/stock/ADM#NYSE">ADM</a>) - marked a new 52-week high at 49.25</li>
<li>Aflac (NYSE:<a class="ticker" href="/stock/AFL#NYSE">AFL</a>) - marked a new 52-week high at 46.7</li>
<li>Allakos Inc. - Common Stock (NASDAQ:<a class="ticker" href="/stock/ALLK#NASDAQ">ALLK</a>) - marked a new 52-week high at 41.1717</li>
<li>Allison Transmission (NYSE:<a class="ticker" href="/stock/ALSN#NYSE">ALSN</a>) - marked a new 52-week high at 45.7073</li>
<li>Andeavor (NYSE:<a class="ticker" href="/stock/ANDV#NYSE">ANDV</a>) - marked a new 52-week high at 152.34</li>
<li>AppFolio (NASDAQ:<a class="ticker" href="/stock/APPF#NASDAQ">APPF</a>) - marked a new 52-week high at 69.2</li>
<li>Apollo Commercial Real (NYSE:<a class="ticker" href="/stock/ARI#NYSE">ARI</a>) - marked a new 52-week high at 19.095</li>
<li>American Railcar Indus (NASDAQ:<a class="ticker" href="/stock/ARII#NASDAQ">ARII</a>) - marked a new 52-week high at 46.49</li>
<li>Archrock (NYSE:<a class="ticker" href="/stock/AROC#NYSE">AROC</a>) - marked a new 52-week high at 13.675</li>
<li>Atlanticus Holdings (NASDAQ:<a class="ticker" href="/stock/ATLC#NASDAQ">ATLC</a>) - marked a new 52-week high at 2.68</li>
<li>Attunity (NASDAQ:<a class="ticker" href="/stock/ATTU#NASDAQ">ATTU</a>) - marked a new 52-week high at 16.442</li>
<li>AVX (NYSE:<a class="ticker" href="/stock/AVX#NYSE">AVX</a>) - marked a new 52-week high at 20.65</li>
<li>AstraZeneca (NYSE:<a class="ticker" href="/stock/AZN#NYSE">AZN</a>) - marked a new 52-week high at 38.83</li>
<li>Booz Allen Hamilton Hldg (NYSE:<a class="ticker" href="/stock/BAH#NYSE">BAH</a>) - marked a new 52-week high at 47.34</li>
<li>Bloom Energy (NYSE:<a class="ticker" href="/stock/BE#NYSE">BE</a>) - marked a new 52-week high at 25.11</li>
<li>BHP Billiton (NYSE:<a class="ticker" href="/stock/BHP#NYSE">BHP</a>) - marked a new 52-week high at 52.22</li>
<li>Black Ridge Acquisition (NASDAQ:<a class="ticker" href="/stock/BRAC#NASDAQ">BRAC</a>) - marked a new 52-week high at 9.88</li>
<li>CA (NASDAQ:<a class="ticker" href="/stock/CA#NASDAQ">CA</a>) - marked a new 52-week high at 44.21</li>
<li>CarGurus (NASDAQ:<a class="ticker" href="/stock/CARG#NASDAQ">CARG</a>) - marked a new 52-week high at 42.06</li>
<li>CBTX (NASDAQ:<a class="ticker" href="/stock/CBTX#NASDAQ">CBTX</a>) - marked a new 52-week high at 37.37</li>
<li>Church &amp; Dwight Co (NYSE:<a class="ticker" href="/stock/CHD#NYSE">CHD</a>) - marked a new 52-week high at 55.95</li>
<li>Clarus (NASDAQ:<a class="ticker" href="/stock/CLAR#NASDAQ">CLAR</a>) - marked a new 52-week high at 8.9</li>
<li>Cooper Companies (NYSE:<a class="ticker" href="/stock/COO#NYSE">COO</a>) - marked a new 52-week high at 260.295</li>
<li>Correvio Pharma (NASDAQ:<a class="ticker" href="/stock/CORV#NASDAQ">CORV</a>) - marked a new 52-week high at 4.66</li>
<li>Canadian Pacific Railway (NYSE:<a class="ticker" href="/stock/CP#NYSE">CP</a>) - marked a new 52-week high at 198.3138</li>
<li>Cheniere Energy Partners, LP Cheniere Energy Partners, LP Common Units (ARCA:CQP) - marked a new 52-week high at 37.64</li>
<li>Cardiovascular Systems (NASDAQ:<a class="ticker" href="/stock/CSII#NASDAQ">CSII</a>) - marked a new 52-week high at 36.96</li>
<li>Chicken Soup for the Soul (NASDAQ:<a class="ticker" href="/stock/CSSEP#NASDAQ">CSSEP</a>) - marked a new 52-week high at 25.45</li>
<li>Covanta Holding (NYSE:<a class="ticker" href="/stock/CVA#NYSE">CVA</a>) - marked a new 52-week high at 17.975</li>
<li>Casella Waste Systems (NASDAQ:<a class="ticker" href="/stock/CWST#NASDAQ">CWST</a>) - marked a new 52-week high at 27.5797</li>
<li>DCP Midstream (NYSE:<a class="ticker" href="/stock/DCP#NYSE">DCP</a>) - marked a new 52-week high at 44.61</li>
<li>Golden Bull (NASDAQ:<a class="ticker" href="/stock/DNJR#NASDAQ">DNJR</a>) - marked a new 52-week high at 9.46</li>
<li>GrafTech International (NYSE:<a class="ticker" href="/stock/EAF#NYSE">EAF</a>) - marked a new 52-week high at 20.76</li>
<li>Echo Global Logistics (NASDAQ:<a class="ticker" href="/stock/ECHO#NASDAQ">ECHO</a>) - marked a new 52-week high at 33.95</li>
<li>El Paso Electric (NYSE:<a class="ticker" href="/stock/EE#NYSE">EE</a>) - marked a new 52-week high at 62.15</li>
<li>Ellington Financial (NYSE:<a class="ticker" href="/stock/EFC#NYSE">EFC</a>) - marked a new 52-week high at 16.45</li>
<li>EMX Royalty Corporation Common Shares (Canada) (ARCA:EMX) - marked a new 52-week high at 1.35</li>
<li>Endo International (NASDAQ:<a class="ticker" href="/stock/ENDP#NASDAQ">ENDP</a>) - marked a new 52-week high at 12.43</li>
<li>EnerSys (NYSE:<a class="ticker" href="/stock/ENS#NYSE">ENS</a>) - marked a new 52-week high at 82.26</li>
<li>Equity Commonwealth (NYSE:<a class="ticker" href="/stock/EQC#NYSE">EQC</a>) - marked a new 52-week high at 32.1</li>
<li>Franklin Electric (NASDAQ:<a class="ticker" href="/stock/FELE#NASDAQ">FELE</a>) - marked a new 52-week high at 49.45</li>
<li>Focus Financial Partners (:FOCS) - marked a new 52-week high at 41.26</li>
<li>Forty Seven (NASDAQ:<a class="ticker" href="/stock/FTSV#NASDAQ">FTSV</a>) - marked a new 52-week high at 16.86</li>
<li>Fortive (NYSE:<a class="ticker" href="/stock/FTV#NYSE">FTV</a>) - marked a new 52-week high at 81.67</li>
<li>Forward Air (NASDAQ:<a class="ticker" href="/stock/FWRD#NASDAQ">FWRD</a>) - marked a new 52-week high at 64.81</li>
<li>Global Partners (NYSE:<a class="ticker" href="/stock/GLP#NYSE">GLP</a>) - marked a new 52-week high at 18.6</li>
<li>Genesee &amp; Wyoming (NYSE:<a class="ticker" href="/stock/GWR#NYSE">GWR</a>) - marked a new 52-week high at 85.92</li>
<li>W.W. Grainger (NYSE:<a class="ticker" href="/stock/GWW#NYSE">GWW</a>) - marked a new 52-week high at 347.71</li>
<li>HopFed Bancorp (NASDAQ:<a class="ticker" href="/stock/HFBC#NASDAQ">HFBC</a>) - marked a new 52-week high at 16.7</li>
<li>Heidrick &amp; Struggles Intl (NASDAQ:<a class="ticker" href="/stock/HSII#NASDAQ">HSII</a>) - marked a new 52-week high at 39.9</li>
<li>Hunter Maritime (NASDAQ:<a class="ticker" href="/stock/HUNT#NASDAQ">HUNT</a>) - marked a new 52-week high at 9.9</li>
<li>Integrated Device Tech (NASDAQ:<a class="ticker" href="/stock/IDTI#NASDAQ">IDTI</a>) - marked a new 52-week high at 35.74</li>
<li>IDEX (NYSE:<a class="ticker" href="/stock/IEX#NYSE">IEX</a>) - marked a new 52-week high at 152.13</li>
<li>Invesco High Income 2024 (NYSE:<a class="ticker" href="/stock/IHTA#NYSE">IHTA</a>) - marked a new 52-week high at 9.39</li>
<li>Illumina (NASDAQ:<a class="ticker" href="/stock/ILMN#NASDAQ">ILMN</a>) - marked a new 52-week high at 317.27</li>
<li>JMU (NASDAQ:<a class="ticker" href="/stock/JMU#NASDAQ">JMU</a>) - marked a new 52-week high at 2.92</li>
<li>Quaker Chemical (NYSE:<a class="ticker" href="/stock/KWR#NYSE">KWR</a>) - marked a new 52-week high at 166.0</li>
<li>Eli Lilly (NYSE:<a class="ticker" href="/stock/LLY#NYSE">LLY</a>) - marked a new 52-week high at 98.23</li>
<li>Limoneira (NASDAQ:<a class="ticker" href="/stock/LMNR#NASDAQ">LMNR</a>) - marked a new 52-week high at 26.85</li>
<li>Dorian LPG (NYSE:<a class="ticker" href="/stock/LPG#NYSE">LPG</a>) - marked a new 52-week high at 8.799</li>
<li>LifePoint Health (NASDAQ:<a class="ticker" href="/stock/LPNT#NASDAQ">LPNT</a>) - marked a new 52-week high at 65.05</li>
<li>Marcus (NYSE:<a class="ticker" href="/stock/MCS#NYSE">MCS</a>) - marked a new 52-week high at 39.05</li>
<li>Medtronic (NYSE:<a class="ticker" href="/stock/MDT#NYSE">MDT</a>) - marked a new 52-week high at 90.07</li>
<li>Medpace Holdings (NASDAQ:<a class="ticker" href="/stock/MEDP#NASDAQ">MEDP</a>) - marked a new 52-week high at 57.49</li>
<li>Majesco Common Stock (ARCA:MJCO) - marked a new 52-week high at 7.7973</li>
<li>Mosaic (NYSE:<a class="ticker" href="/stock/MOS#NYSE">MOS</a>) - marked a new 52-week high at 30.18</li>
<li>MSA Safety (NYSE:<a class="ticker" href="/stock/MSA#NYSE">MSA</a>) - marked a new 52-week high at 100.41</li>
<li>Medical Transcription (NASDAQ:<a class="ticker" href="/stock/MTBCP#NASDAQ">MTBCP</a>) - marked a new 52-week high at 26.739</li>
<li>National Energy Services (NASDAQ:<a class="ticker" href="/stock/NESR#NASDAQ">NESR</a>) - marked a new 52-week high at 11.5</li>
<li>Ingevity (NYSE:<a class="ticker" href="/stock/NGVT#NYSE">NGVT</a>) - marked a new 52-week high at 100.29</li>
<li>NII Holdings (NASDAQ:<a class="ticker" href="/stock/NIHD#NASDAQ">NIHD</a>) - marked a new 52-week high at 5.98</li>
<li>National Retail Props (NYSE:<a class="ticker" href="/stock/NNN#NYSE">NNN</a>) - marked a new 52-week high at 45.32</li>
<li>Northern Oil and Gas, Inc. Common Stock (ARCA:NOG) - marked a new 52-week high at 3.74</li>
<li>National Oilwell Varco (NYSE:<a class="ticker" href="/stock/NOV#NYSE">NOV</a>) - marked a new 52-week high at 48.55</li>
<li>Norwood Financial (NASDAQ:<a class="ticker" href="/stock/NWFL#NASDAQ">NWFL</a>) - marked a new 52-week high at 39.45</li>
<li>NexPoint Residential Trst (NYSE:<a class="ticker" href="/stock/NXRT#NYSE">NXRT</a>) - marked a new 52-week high at 29.41</li>
<li>Oceaneering International (NYSE:<a class="ticker" href="/stock/OII#NYSE">OII</a>) - marked a new 52-week high at 27.64</li>
<li>Osprey Energy Acquisition (NASDAQ:<a class="ticker" href="/stock/OSPR#NASDAQ">OSPR</a>) - marked a new 52-week high at 10.5</li>
<li>PCM (NASDAQ:<a class="ticker" href="/stock/PCMI#NASDAQ">PCMI</a>) - marked a new 52-week high at 21.4</li>
<li>PIMCO Dynamic Income Fund (NYSE:<a class="ticker" href="/stock/PDI#NYSE">PDI</a>) - marked a new 52-week high at 33.01</li>
<li>Pfizer (NYSE:<a class="ticker" href="/stock/PFE#NYSE">PFE</a>) - marked a new 52-week high at 39.435</li>
<li>Sprott Physical Gold Trust ETV (ARCA:PHYS) - marked a new 52-week high at 9.87</li>
<li>PJT Partners (NYSE:<a class="ticker" href="/stock/PJT#NYSE">PJT</a>) - marked a new 52-week high at 58.82</li>
<li>Phillips 66 (NYSE:<a class="ticker" href="/stock/PSX#NYSE">PSX</a>) - marked a new 52-week high at 122.7345</li>
<li>Ralph Lauren (NYSE:<a class="ticker" href="/stock/RL#NYSE">RL</a>) - marked a new 52-week high at 145.97</li>
<li>RBC Bearings (NASDAQ:<a class="ticker" href="/stock/ROLL#NASDAQ">ROLL</a>) - marked a new 52-week high at 146.46</li>
<li>Scottish Investment Trust (ARCA:SCIN) - marked a new 52-week high at 17.945</li>
<li>SIGA Technologies (NASDAQ:<a class="ticker" href="/stock/SIGA#NASDAQ">SIGA</a>) - marked a new 52-week high at 7.79</li>
<li>Sutherland Asset Mgmt (NYSE:<a class="ticker" href="/stock/SLD#NYSE">SLD</a>) - marked a new 52-week high at 16.75</li>
<li>Seacor Marine Holdings (NYSE:<a class="ticker" href="/stock/SMHI#NYSE">SMHI</a>) - marked a new 52-week high at 25.53</li>
<li>Sony (NYSE:<a class="ticker" href="/stock/SNE#NYSE">SNE</a>) - marked a new 52-week high at 54.58</li>
<li>Simon Property Group (NYSE:<a class="ticker" href="/stock/SPG#NYSE">SPG</a>) - marked a new 52-week high at 174.53</li>
<li>Simpson Manufacturing Co (NYSE:<a class="ticker" href="/stock/SSD#NYSE">SSD</a>) - marked a new 52-week high at 67.68</li>
<li>Sasol (NYSE:<a class="ticker" href="/stock/SSL#NYSE">SSL</a>) - marked a new 52-week high at 39.4</li>
<li>STERIS (NYSE:<a class="ticker" href="/stock/STE#NYSE">STE</a>) - marked a new 52-week high at 114.37</li>
<li>Starwood Property Trust (NYSE:<a class="ticker" href="/stock/STWD#NYSE">STWD</a>) - marked a new 52-week high at 22.73</li>
<li>Suncor Energy (NYSE:<a class="ticker" href="/stock/SU#NYSE">SU</a>) - marked a new 52-week high at 42.52</li>
<li>Talos Energy (NYSE:<a class="ticker" href="/stock/TALO#NYSE">TALO</a>) - marked a new 52-week high at 37.0</li>
<li>TrueBlue (NYSE:<a class="ticker" href="/stock/TBI#NYSE">TBI</a>) - marked a new 52-week high at 29.55</li>
<li>TransDigm Group (NYSE:<a class="ticker" href="/stock/TDG#NYSE">TDG</a>) - marked a new 52-week high at 375.63</li>
<li>Teledyne Technologies (NYSE:<a class="ticker" href="/stock/TDY#NYSE">TDY</a>) - marked a new 52-week high at 220.35</li>
<li>First Financial (NASDAQ:<a class="ticker" href="/stock/THFF#NASDAQ">THFF</a>) - marked a new 52-week high at 51.45</li>
<li>Gentherm (NASDAQ:<a class="ticker" href="/stock/THRM#NASDAQ">THRM</a>) - marked a new 52-week high at 45.9</li>
<li>Thermo Fisher Scientific (NYSE:<a class="ticker" href="/stock/TMO#NYSE">TMO</a>) - marked a new 52-week high at 234.46</li>
<li>Trinet Group (NYSE:<a class="ticker" href="/stock/TNET#NYSE">TNET</a>) - marked a new 52-week high at 60.15</li>
<li>Total (NYSE:<a class="ticker" href="/stock/TOT#NYSE">TOT</a>) - marked a new 52-week high at 65.52</li>
<li>Turning Point Brands (NYSE:<a class="ticker" href="/stock/TPB#NYSE">TPB</a>) - marked a new 52-week high at 33.66</li>
<li>Trex Co (NYSE:<a class="ticker" href="/stock/TREX#NYSE">TREX</a>) - marked a new 52-week high at 69.305</li>
<li>Universal Logistics Hldgs (NASDAQ:<a class="ticker" href="/stock/ULH#NASDAQ">ULH</a>) - marked a new 52-week high at 32.0</li>
<li>Unum Therapeutics (NASDAQ:<a class="ticker" href="/stock/UMRX#NASDAQ">UMRX</a>) - marked a new 52-week high at 16.65</li>
<li>Union Pacific (NYSE:<a class="ticker" href="/stock/UNP#NYSE">UNP</a>) - marked a new 52-week high at 150.55</li>
<li>Ur Energy Inc Common Shares (Canada) (ARCA:URG) - marked a new 52-week high at 0.79</li>
<li>Universal Insurance Hldgs (NYSE:<a class="ticker" href="/stock/UVE#NYSE">UVE</a>) - marked a new 52-week high at 44.75</li>
<li>Veoneer (NYSE:<a class="ticker" href="/stock/VNE#NYSE">VNE</a>) - marked a new 52-week high at 53.325</li>
<li>WellCare Health Plans (NYSE:<a class="ticker" href="/stock/WCG#NYSE">WCG</a>) - marked a new 52-week high at 259.955</li>
<li>WD-40 (NASDAQ:<a class="ticker" href="/stock/WDFC#NASDAQ">WDFC</a>) - marked a new 52-week high at 163.775</li>
<li>Westlake Chemical (NYSE:<a class="ticker" href="/stock/WLKP#NYSE">WLKP</a>) - marked a new 52-week high at 25.645</li>
<li>Waste Management (NYSE:<a class="ticker" href="/stock/WM#NYSE">WM</a>) - marked a new 52-week high at 89.88</li>
<li>Western Asset Mortgage (NYSE:<a class="ticker" href="/stock/WMC#NYSE">WMC</a>) - marked a new 52-week high at 11.01</li>
<li>Williams Partners (NYSE:<a class="ticker" href="/stock/WPZ#NYSE">WPZ</a>) - marked a new 52-week high at 44.68</li>
<li>Watts Water Technologies (NYSE:<a class="ticker" href="/stock/WTS#NYSE">WTS</a>) - marked a new 52-week high at 85.4</li>
</ul>

ALSN

ANDV

APPF

ARII

AROC

ATLC

ATTU

BRAC

CARG

CBTX

CLAR

CORV

CSII

CSSEP

CWST

DNJR

ECHO

ENDP

FELE

FTSV

FWRD

HFBC

HSII

Invesco High Income 2024 Target Term Fund Common Shares of Beneficial Interest, No par value per share

IHTA

ILMN

LMNR

LPNT

MEDP

MTBCP

NESR

NGVT

NIHD

NWFL

NXRT

OSPR

PCMI

ROLL

SIGA

SMHI

STWD

TALO

THFF

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TNET

Stocks Which Set New 52-Week High Yesterday, July 31

Nearly a week after Broadcom Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) stock crashed following the announcement of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/07/12012725/broadcom-shares-plummet-after-wall-street-questions-sud">a puzzling $18.9 billion buyout</a> of CA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ca#NASDAQ">CA</a>), Broadcom is still getting hate from Wall Street.
<h3>The Analyst</h3>
Goldman Sachs analyst Toshiya Hari downgraded Broadcom stock from Buy to Neutral and cut his price target from $300 to $220.
<h3>The Thesis</h3>
Like most other analysts who have weighed in on the deal, Hari says CA&rsquo;s software business is outside of Broadcom&rsquo;s core competency, and the buyout has created uncertainty about Broadcom management&rsquo;s long-term strategic vision.
&ldquo;Importantly, we believe management will need to provide greater clarity on its forward strategy and that it will take time for management to gain investors&rsquo; confidence in their ability to achieve their goals,&rdquo; Hari said in a&nbsp;note.
Hari says Broadcom will need to answer a number of important questions in coming months, including whether or not the company is transitioning to a software company, whether its position in the semiconductor market is in jeopardy and whether or not investors should expect additional software buyouts in the future.
While Hari says the CA deal will add up to 9 percent to Broadcom&rsquo;s earnings, the potential benefits for the stock have been outweighed by the negative impact of the uncertainty the deal has created.
Prior to the deal&rsquo;s announcement, Hari was forecasting Broadcom stock&rsquo;s earnings multiple would expand from around 11 to 15, boosted by the company&rsquo;s aggressive capital return plan. Now, he&#39;s expecting the stock to stay in the 11 PE range until the company can clearly demonstrate its intended path forward.
<h3>Price Action</h3>
Broadcom stock traded higher by less than 1&nbsp;percent Wednesday at $209.63.
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/07/11980828/the-semiconductor-stocks-that-fund-managers-love-and-ha">The Semiconductor Stocks That Fund Managers Love And Hate</a> 
<a href="https://www.benzinga.com/media/18/07/12020915/barrons-picks-and-pans-broadcom-mohawk-industries-nextera-energy-and-more">Barron&#39;s Picks And Pans: Broadcom, Mohawk Industries, NextEra Energy And More</a>
Image credit: <a href="https://www.flickr.com/photos/adlerweb/35761930473">Floirian Knodt, Flickr</a>

Downgrades

Broadcom Gets Another Downgrade From Goldman Sachs

<h3>Top Upgrades</h3>
<ul>
<li>RBC Capital upgraded Charles River Laboratories International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crl#NYSE">CRL</a>) from Sector Perform to Outperform. Charles River shares rose 0.30 percent to close at $117.66 on Monday.</li>
<li>Analysts at Stephens &amp; Co. upgraded Tribune Media Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trco#NYSE">TRCO</a>) from Equal-Weight to Overweight. Tribune Media shares fell 16.70 percent to close at $32.12 on Monday.</li>
<li>BMO Capital upgraded Netflix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) from Market Perform to Outperform. Netflix shares fell 12.85 percent to $349.00 in pre-market trading.</li>
<li>RBC Capital upgraded Medidata Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdso#NASDAQ">MDSO</a>) from Sector Perform to Outperform. Medidata Solutions shares fell 1.07 percent to close at $83.84 on Monday.</li>
<li>Stifel Nicolaus upgraded Netflix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) from Hold to Buy. Netflix shares fell 12.85 percent to $349.00 in pre-market trading.</li>
<li>Cowen &amp; Co. upgraded Restaurant Brands International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qsr#NYSE">QSR</a>) from Market Perform to Outperform. Restaurant Brands shares fell 0.41 percent to close at $63.22 on Monday.</li>
<li>Raymond James upgraded Bloomin&#39; Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blmn#NASDAQ">BLMN</a>) from Market Perform to Outperform. Bloomin Brands shares fell 1.71 percent to close at $20.71 on Monday.</li>
<li>Goldman Sachs upgraded Macerich Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mac#NYSE">MAC</a>) from Sell to Neutral. Macerich shares fell 0.57 percent to close at $57.51 on Monday.</li>
<li>Keefe Bruyette &amp; Woods upgraded Fidelity National Financial, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fnf#NYSE">FNF</a>) from Market Perform to Outperform. Fidelity National shares rose 0.40 percent to close at $37.23 on Monday.</li>
</ul>
&nbsp;
<h3>Top Downgrades</h3>
<ul>
<li>Jefferies downgraded CA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ca#NASDAQ">CA</a>) from Buy to Hold. CA shares fell 0.02 percent to close at $44.05 on Monday.</li>
<li>Evercore ISI Group downgraded Intel Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) from Outperform to In-Line. Intel shares fell 1.21 percent to $51.38 in pre-market trading.</li>
<li>Jefferies downgraded National Storage Affiliates Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nsa#NYSE">NSA</a>) from Buy to Hold. National Storage shares rose 0.53 percent to close at $30.61 on Monday.</li>
<li>Stephens &amp; Co. downgraded Hormel Foods Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrl#NYSE">HRL</a>) from Overweight to Equal-Weight. Hormel shares fell 1.80 percent to $36.50 in pre-market trading.</li>
<li>Jefferies downgraded CubeSmart (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cube#NYSE">CUBE</a>) from Buy to Hold. CubeSmart shares fell 1.04 percent to close at $31.50 on Monday.</li>
<li>William Blair downgraded Gogo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gogo#NASDAQ">GOGO</a>) from Outperform to Market Perform. Gogo shares fell 4.26 percent to $3.60 in pre-market trading.</li>
<li>Goldman Sachs downgraded Goodyear Tire &amp; Rubber Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gt#NASDAQ">GT</a>) from Neutral to Sell. Goodyear Tire shares fell 5.22 percent to $21.25 in pre-market trading.</li>
<li>Seaport Global downgraded RPM International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rpm#NYSE">RPM</a>) from Buy to Neutral. RPM shares fell 0.79 percent to close at $60.01 on Monday.</li>
<li>Janney Capital downgraded Waters Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wat#NYSE">WAT</a>) from Buy to Neutral. Waters shares fell 2.32 percent to close at $193.50 on Friday.</li>
<li>Raymond James downgraded Chuy&#39;s Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chuy#NASDAQ">CHUY</a>) from Outperform to Market Perform. Chuy&#39;s shares fell 1.56 percent to $31.65 in pre-market trading.</li>
</ul>
&nbsp;
<h3>Top Initiations</h3>
<ul>
<li>Analysts at Jefferies initiated coverage on Apergy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/apy#NYSE">APY</a>) with a Buy rating. The price target for Apergy is set to $50. Apergy shares closed at $37.96 on Monday.</li>
<li>Mizuho initiated coverage on Xeris Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xers#NASDAQ">XERS</a>) with a Buy rating. The price target for Xeris Pharmaceuticals is set to $26. Xeris Pharmaceuticals shares closed at $18.40 on Monday.</li>
<li>RBC Capital initiated coverage on FGL Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fgl#NYSE">FGL</a>) with an Outperform rating. The price target for FGL Holdings is set to $10. FGL Holdings shares closed at $8.56 on Monday.</li>
<li>Jefferies initiated coverage on Autolus Therapeutics Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/autl#NASDAQ">AUTL</a>) with a Buy rating. The price target for Autolus Therapeutics is set to $37. Autolus Therapeutics closed at $22.75 on Monday.</li>
<li>Credit Suisse initiated coverage on Nomad Foods Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nomd#NYSE">NOMD</a>) with an Outperform rating. The price target for Nomad Foods is set to $24. Nomad Foods shares closed at $18.39 on Monday.</li>
<li>Analysts at BTIG Research initiated coverage on electroCore, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ecor#NASDAQ">ECOR</a>) with a Buy rating. The price target for electroCore is set to $20. electroCore shares closed at $14.64 on Monday.</li>
</ul>

Initiation

Pre-Market Outlook

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INTC

MDSO

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Benzinga's Top Upgrades, Downgrades For July 17, 2018

Jefferies downgrades CA (NASDAQ:<a class="ticker" href="/stock/CA#NASDAQ">CA</a>) from Buy to Hold.

Jefferies Downgrades CA to Hold

<h3>Gainers</h3>
<ul>
<li>Izea Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/izea#NASDAQ">IZEA</a>) surged 173.65 percent to close at $2.56 on Thursday after the company reported a deal to buy TapInfluence for $7.08 million in cash and stock.</li>
<li>China TechFaith Wireless Communication Technology Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cntf#NASDAQ">CNTF</a>) shares rose 63.93 percent to close at $3.00 after the company agreed to sell its wholly-owned subsidiary.</li>
<li>Mid-Southern Savings Bank, FSB (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msvb#NASDAQ">MSVB</a>) gained 24.5 percent to close at $12.45.</li>
<li>Monaker Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mkgi#NASDAQ">MKGI</a>) rose 23.02 percent to close at $3.10.</li>
<li>Poage Bankshares, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pbsk#NASDAQ">PBSK</a>) rose 21.52 percent to close at $24.85.</li>
<li>Galmed Pharmaceuticals Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/glmd#NASDAQ">GLMD</a>) shares rose 21.04 percent to close at $12.77 on Thursday after falling 4.09 percent on Wednesday.</li>
<li>Zogenix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zgnx#NASDAQ">ZGNX</a>) shares rose 20.73 percent to close at $55.90 after management released positive top-line results from its second pivotal Phase 3 study of ZX008 in Dravet Syndrome. The trial met primary and secondary endpoints and demonstrated statistical significance in reducing convulsive seizures.</li>
<li>CA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ca#NASDAQ">CA</a>) shares gained 18.65 percent to close at $44.15 after Broadcom Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) announced plans to buy the company at $44.50 per share in cash.</li>
<li>Farmland Partners Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fpi#NYSE">FPI</a>) shares rose 18.18 percent to close at $6.24 after dropping 38.96 percent on Wednesday.</li>
<li>Opiant Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/opnt#NASDAQ">OPNT</a>) rose 16.84 percent to close at $15.47.</li>
<li>Moxian, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/moxc#NASDAQ">MOXC</a>) gained 16.28 percent to close at $2.500.</li>
<li>Natural Grocers by Vitamin Cottage, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ngvc#NASDAQ">NGVC</a>) rose 15.95 percent to close at $15.63.</li>
<li>Ambow Education Holding Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ambo#NASDAQ">AMBO</a>) shares jumped 15.83 percent to close at $5.79.</li>
<li>RumbleON, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rmbl#NASDAQ">RMBL</a>) climbed 15.51 percent to close at $7.52.</li>
<li>ACM Research, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acmr#NASDAQ">ACMR</a>) shares gained 14.23 percent to close at $12.44.</li>
<li>Assembly Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asmb#NASDAQ">ASMB</a>) rose 14.14 percent to close at $41.90 as the company reported pricing of $144 million offering of common stock.</li>
<li>The Dixie Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyn#NASDAQ">DXYN</a>) gained 12.94 percent to close at $2.40.</li>
<li>Intelsat S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/i#NYSE">I</a>) shares rose 12.5 percent to close at $19.62.</li>
<li>Funko, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fnko#NASDAQ">FNKO</a>) gained 12.25 percent to close at $15.21 on Thursday.</li>
<li>Bilibili Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bili#NASDAQ">BILI</a>) climbed 11.58 percent to close at $14.26.</li>
<li>Papa John&#39;s International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pzza#NASDAQ">PZZA</a>) shares gained 11.05 percent to close at $53.67. Papa John&#39;s founder John Schnatter resigned Wednesday night as chairman of the company.</li>
<li>Engility Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egl#NYSE">EGL</a>) rose 10.45 percent to close at $34.97 after Reuters reported that the company is exploring a sale.</li>
<li>Restoration Robotics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hair#NASDAQ">HAIR</a>) gained 9.33 percent to close at $3.28.</li>
<li>Jaguar Health, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jagx#NASDAQ">JAGX</a>) jumped 8.82 percent to close at $1.48 after the company issued Q2 financial updates.</li>
<li>Staffing 360 Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/staf#NASDAQ">STAF</a>) rose 8.07 percent to close at $3.08.</li>
<li>Yield10 Bioscience Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/yten#NASDAQ">YTEN</a>) rose 7.8 percent to close at $1.52 after Maxim initiated coverage on the stock with a Buy rating and a $7 price target.</li>
</ul>
&nbsp;
<h3>Losers</h3>
<ul>
<li>SSLJ.com Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sslj#NASDAQ">SSLJ</a>) shares tumbled 44.95 percent to close at $1.69 on Thursday after dropping 8.63 percent on Wednesday.</li>
<li>Sellas Life Sciences Group Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sls#NASDAQ">SLS</a>) declined 30.6 percent to close at $1.61 on Thursday after the company reported pricing of its upsized $24.2 million public offering.</li>
<li>MER Telemanagement Solutions Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mtsl#NASDAQ">MTSL</a>) shares dropped 27.85 percent to close at $1.58 on Thursday after dropping 19.78 percent on Wednesday.</li>
<li>Biocept, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bioc#NASDAQ">BIOC</a>) dropped 17.3 percent to close at $6.55 on Thursday after climbing 115.22 percent on Wednesday.</li>
<li>Broadcom Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) fell 13.74 percent to close at $209.98 after the company announced plans to buy CA at $44.50 per share in cash.</li>
<li>The Cato Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cato#NYSE">CATO</a>) fell 13.49 percent to close at $21.54. Cato&rsquo;s same-store sales was flat for the five weeks ended July 7, 2018.</li>
<li>AcelRx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acrx#NASDAQ">ACRX</a>) fell 13.24 percent to close at $2.95. AcelRx Pharmaceuticals disclosed commencement of a common stock offering.</li>
<li>SemiLEDs Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/leds#NASDAQ">LEDS</a>) shares dropped 12.76 percent to close at $4.17 after reporting Q3 results.</li>
<li>L Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lb#NYSE">LB</a>) fell 12.05 percent to close at $32.34. Comparable sales rose 3 percent for the five weeks ended July 7, 2018 versus the five weeks ended July 8, 2017.</li>
<li>Zion Oil &amp; Gas, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zn#NASDAQ">ZN</a>) shares fell 11 percent to close at $3.56.</li>
<li>Casa Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casa#NASDAQ">CASA</a>) fell 10.81 percent to close at $15.43 after the company reported departure of its CFO.</li>
<li>Zumiez Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zumz#NASDAQ">ZUMZ</a>) dropped 9.96 percent to close at $21.25. Zumiez&rsquo;s comparable sales rose 2.7 percent for the five-week period ended July 7, 2018.</li>
<li>Farmmi, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fami#NASDAQ">FAMI</a>) shares fell 9.86 percent to close at $4.57. Farmmi entered into a contract to develop agricultural products quality assurance and traceability software system.</li>
<li>Autolus Therapeutics Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/autl#NASDAQ">AUTL</a>) declined 9.44 percent to close at $21.11.</li>
<li>Achieve Life Sciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/achv#NASDAQ">ACHV</a>) fell 9.25 percent to close at $3.63 on Thursday.</li>
<li>Valmont Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vmi#NYSE">VMI</a>) dropped 8.92 percent to close at $138.30 after the company lowered its full-year guidance.</li>
<li>Bank of the Ozarks (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ozrk#NASDAQ">OZRK</a>) dropped 8.47 percent to close at $42.12. Bank Of The Ozarks posted in-line earnings for its second quarter, while sales missed estimates.</li>
<li>Buckle, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bke#NYSE">BKE</a>) declined 7.69 percent to close at $23.40. Buckle&rsquo;s comparable store net sales fell 1.2 percent for the 5-week period ended July 7, 2018.</li>
</ul>

44 Biggest Movers From Yesterday

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