First Watch Restaurant Gr Azioni (NASDAQ: FWRG)

Ultime notizie per First Watch Restaurant Gr (NASDAQ:FWRG) Azioni

First Watch Restaurant Gr

First Watch Restaurant Group Inc is a daytime restaurant concept serving made-to-order breakfast, brunch, and lunch using fresh ingredients. It generates revenues from Restaurant sales and Franchise revenues.

First Watch Restaurant Group, Inc. - Common Stock

First Watch Restaurant Group Inc

Quanta Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>) has outperformed the market over the past 10 years by 14.24% on an annualized basis producing an average annual return of 25.94%. Currently, Quanta Services has a market capitalization of $45.31 billion. 
Buying $1000 In PWR: If an investor had bought $1000 of PWR stock 10 years ago, it would be worth $9,840.32 today based on a price of $307.51 for PWR at the time of writing.
<h3>Quanta Services's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728336618_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Trading Ideas

$1000 Invested In This Stock 10 Years Ago Would Be Worth $9,800 Today

Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) has outperformed the market over the past 10 years by 6.66% on an annualized basis producing an average annual return of 18.36%. Currently, Salesforce has a market capitalization of $272.05 billion. 
Buying $1000 In CRM: If an investor had bought $1000 of CRM stock 10 years ago, it would be worth $5,346.05 today based on a price of $284.57 for CRM at the time of writing.
<h3>Salesforce's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728336613_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Salesforce 10 Years Ago Would Be Worth Today

ESRT

Empire State Realty Trust Reveals Four New Tenants To Its Retail Portfolio And Plans To Open New Ticketing Center At The Empire State Building Observatory

Guidance

Associated Capital Reports Preliminary Range For Q3 Book Value Of $41.85 To $42.05 Per Share

Rosenblatt analyst Blair Abernethy maintains Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Neutral and maintains $280 price target.

Price Target

Analyst Ratings

CDNS

Rosenblatt Maintains Neutral on Cadence Design Sys, Maintains $280 Price Target

Hemp companies in <a href="https://www.benzinga.com/topic/new-jersey-cannabis">New Jersey</a> have filed a lawsuit challenging the <a href="https://www.benzinga.com/markets/cannabis/24/09/40845389/nj-governor-signs-bill-tightening-rules-on-hemp-industry-stakeholders-protest-big-alcohol-celebr">newly signed regulation</a> that limits the sale of hemp derived products like Delta-8 THC.
Arguing that the new regulations effectively criminalize hemp, the plaintiffs say hemp is federally legal under the<a href="https://www.benzinga.com/markets/cannabis/24/07/39783607/how-hemp-became-americas-loophole-for-legal-highs"> 2018 Farm Bill</a>, and that New Jersey&#8217;s regulations will force many of them out of business.
In the lawsuit, they also argue that vague terms in the law make compliance difficult. They are seeking a federal court's intervention before the October 12 deadline, when all hemp products must be pulled from shelves.
<h3 class="wp-block-heading">New Jersey's Defense Of The Law</h3>
In response, New Jersey's state attorneys have filed a motion to dismiss the lawsuit, defending the law as a necessary public health measure, <a href="https://newjerseymonitor.com/2024/10/04/state-urges-judge-to-reject-lawsuit-about-new-hemp-regulations/#:~:text=New%20Jersey%20is%20arguing%20that,aimed%20at%20blocking%20the%20law.">reported</a> New Jersey Monitor. 
The argument by the government says that the&nbsp;2018 Farm Bill&nbsp;allows for state-level regulations that aim to address the risks posed by&nbsp;psychoactive hemp products. 
The state's filing emphasized concerns over the health and safety of minors, citing data that shows 11% of high school seniors had used Delta-8 THC in 2023.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40845389/nj-governor-signs-bill-tightening-rules-on-hemp-industry-stakeholders-protest-big-alcohol-celebr">NJ Governor Signs Bill Tightening Rules On Hemp: Industry Stakeholders Protest, Big Alcohol Celebrates</a>
<h3 class="wp-block-heading">New Hemp Law's Restrictions And Impact</h3>
In a writen statement, Governor&nbsp;Phil Murphy&nbsp;acknowledged the <a href="https://www.benzinga.com/markets/cannabis/24/09/40845389/nj-governor-signs-bill-tightening-rules-on-hemp-industry-stakeholders-protest-big-alcohol-celebr">law's vagueness</a> but expressed that public safety concerns were paramount.
Signed into law by Murphy, the new hemp regulation bans the sale of intoxicating hemp products. This is unless the seller holds a cannabis or alcohol license.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
Overseen by the New Jersey Cannabis Regulatory Commission (CRC), the law aims to curb access to products like THC-infused beverages and Delta-8 THC. However, it also benefits the alcohol industry.
Similar arguments regarding adverse effects on minor have been waved in other states to prevent hemp-derived products from circulating.
In <a href="https://www.benzinga.com/markets/cannabis/24/09/40945349/cannabis-companies-have-missouris-governor-beat-hemp-thc-products-sales-resume-as-stricter-contr">Missouri</a>, Maryland and <a href="https://www.benzinga.com/markets/cannabis/24/09/41012794/gov-newsoms-hemp-ban-goes-into-effect-consequences-for-industry-investors-patients">California</a>, similar regulations as those imposed sin New Jersey have faced or are currently facing legal disputes. 
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/08/40346190/75-for-an-eighth-of-an-ounce-why-are-new-jersey-cannabis-prices-still-so-high">How This Former DEA Consultant Is Making Craft Cannabis Profitable In New Jersey: A &#8216;Dirt-y&#8217; Little Secret</a></li>
</ul>
Cover: Photo by Gerome Dominici via Pexels

Cannabis

Government

Regulations

Legal

Markets

New Jersey Hemp Companies File Lawsuit Over Strict Regulations, Arguing Farm Bill Protects Them

CHUY

MDU Resources To Replace Chuy's Holdings In S&P SmallCap 600, Effective Prior To Opening Of Trading On October 11

DOCU

DocuSign To Replace MDU Resources In S&P MidCap 400, Effective Prior To Opening Of Trading On October 11

Jones Trading analyst Matthew Erdner initiates coverage on ACRES Commercial Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACR#NYSE">ACR</a>) with a Hold rating.

Initiation

Jones Trading Initiates Coverage On ACRES Commercial Realty with Hold Rating

Canaccord Genuity analyst Susan Anderson maintains Helen Of Troy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) with a Buy and maintains $84 price target.

HELE

Canaccord Genuity Maintains Buy on Helen Of Troy, Maintains $84 Price Target

Rubicon Organics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBTCW#OTC">RBTCW</a>) has released its 2023&nbsp;Environmental, Social and Governance (ESG) Report, which demonstrates significant progress by the company in reducing its environmental footprint.
The cannabis company, known for its organic certified products, is one of the few in the industry to publish a comprehensive sustainability report, reflecting the growing importance of&nbsp;<a href="https://www.benzinga.com/topic/climate-change">climate action</a>&nbsp;across sectors.
<h3 class="wp-block-heading">Carbon Footprint Slashed By 48%</h3>
The 2023 ESG Report showcases <a href="https://www.benzinga.com/markets/cannabis/24/08/40397166/rubicons-revenue-grows-profit-margins-shrink-in-q2-whats-next-for-this-canadian-cannabis-company">Rubicon's</a> success in cutting its&nbsp;carbon emissions by 48%, down to&nbsp;2,064 tons. This reduction is largely attributed to a major energy shift through a&nbsp;BC Hydro site upgrade, enabling Rubicon to use cleaner, renewable energy sources.
"We believe we are establishing industry benchmarks and building a robust and resilient cannabis industry in Canada," said Rubicon's CEO Margaret Brodie.
The report also highlights improvements in waste management, with a&nbsp;66% landfill waste diversion rate&nbsp;achieved through recycling, composting, and biofuel repurposing initiatives. These activities also helped reduce the cannabis carbon footprint generated during 2023.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39992555/cannabis-sustainability-why-it-matters-and-how-to-achieve-it-with-practical-inexpensive-measures">Cannabis Sustainability: Why It Matters and How to Achieve It With Practical Inexpensive Measures</a>
<h3 class="wp-block-heading">Cannabis Footprint And ESG Reports </h3>
Although infrequent, reporting <a href="https://www.benzinga.com/topic/sustainability">sustainability</a> achievements like Rubicon's is becoming more common. As industries face mounting pressure to address&nbsp;climate change&nbsp;and corporate responsibility, the trend is for customers to value the efforts made by companies to diminish the environmental impacts of their activity.
While still relatively rare in the cannabis sector, the trend is gaining momentum globally.
Insights from the <a href="https://jcannabisresearch.biomedcentral.com/articles/10.1186/s42238-021-00090-0">scientific paper</a> "A Narrative Review on Environmental Impacts of Cannabis Cultivation" by environmentalists Zhonghua Zheng, Kelsey Fiddes and Liangcheng Yang help frame Rubicon's progress. The review noted that cannabis cultivation is notoriously <a href="https://www.benzinga.com/general/biotech/23/04/31620821/the-environmental-impact-of-cannabis-sustainable-growth-or-eco-disaster">resource-intensive</a>, with significant water use and greenhouse gas emissions tied to indoor growing operations.
Related to this, Rubicon's reductions in natural gas usage are vital to the mitigation of the environmental impact of indoor cannabis production.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Diversity-Minded Company</h3>
Beyond carbon reduction, Rubicon had a 6% increase in employee count, ending 2023 with 178 workers. The company hired 65 new employees.
For the second year in a row, Rubicon reduced its&nbsp;employee turnover, down to&nbsp;32%&nbsp;from 43% in 2022. The company maintained its focus on diversity, with&nbsp;83%&nbsp;of the workforce belonging to underrepresented groups.
On the equity front, the&nbsp;gender wage gap&nbsp;favored women, with female employees earning&nbsp;33% more than men, while the company&#8217;s&nbsp;CEO pay ratio&nbsp;decreased to&nbsp;14.4:1&nbsp;from&nbsp;28.5:1&nbsp;in 2022.
If you&#8217;re curious about the report, which is the 4th put out by the company, you can download it <a href="https://www.rubiconorganics.com/our-business/esg-reporting/">here</a>.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/08/40496120/new-york-cannabis-growers-given-one-year-to-submit-mandatory-sustainability-plans">New York Cannabis Growers Given One Year To Submit Mandatory Sustainability Plans</a></li>
</ul>
Cover: AI generated image

RBTCW

Rubicon Organics: 83% Of Workforce From Diverse Groups, Women Earn 33% More Than Men, Cuts Carbon Footprint By 48% YoY

Beverage and food giant PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) could provide an insight on shoppers' habits in the face of rising costs at the grocery store when third-quarter financial results are reported Tuesday <a href="https://www.benzinga.com/earnings">before market open</a>.
Earnings Estimates: Analysts expect PepsiCo to report third-quarter revenue of $23.83 billion, up from $22.32 billion in last year's third quarter, according to data <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100724&amp;t=be2bearmibe3na1">from Benzinga Pro</a>.
The company has beaten analyst estimates for revenue in eight of the last 10 quarters, but missed estimates in two of the last three quarters.
Analysts expect the company to report third-quarter earnings per share of $2.29, up from last year's $2.25. The company has beaten analyst estimates for earnings per share in more than 10 straight quarters.
Read Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41208875/pepsico-slumps-ahead-of-q3-can-earnings-bring-the-fizz-back">PepsiCo Slumps Ahead Of Q3: Can Earnings Bring The Fizz Back?</a>
Key Items to Watch: Ahead of PepsiCo's third-quarter financial results, several analysts have updated their price targets. Here are<a href="https://www.benzinga.com/quote/PEP/analyst-ratings"> recent analyst ratings </a>on PepsiCo and their respective price targets:
<ul>
<li>RBC Capital: Maintained Sector Perform rating, lowered price target from $177 to $176</li>
<li>Barclays: Maintained Overweight rating, lowered price target from $187 to $186</li>
<li>JPMorgan: Maintained Neutral rating, raised price target from $182 to $185</li>
<li>Bank of America: Maintained Buy rating, lowered price target from $190 to $185</li>
</ul>
PepsiCo's report could provide a gauge of consumer spending, with a strong market share for both beverages and snack foods.
The company said it faced a difficult performance for North America convenient foods in the <a href="https://www.benzinga.com/news/earnings/24/07/39725480/pepsicos-q2-performance-annual-outlook-underwhelms-investors-stock-slides">second quarter</a>, which will likely be closely monitored.
Pepsi also recently announced the acquisition of tortilla chip maker Siete Foods <a href="https://www.benzinga.com/markets/equities/24/10/41118083/pepsico-eyes-tortilla-maker-siete-foods-in-1b-deal-report">for $1.2 billion.</a> The acquisition could bolster Pepsi&#8217;s presence in the healthier snack market and may prompt analysts to question whether further acquisitions are on the horizon.
The beverage and food giant could also update guidance for the full year and share how the Siete acquisition could impact revenue and earnings in the future.
PEP Price Action: PepsiCo stock is down 0.6% to $166.93 on Monday, versus a 52-week trading range of $157.43 to $183.79. Pepsi stock is down 3.4% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41205686/how-to-earn-500-a-month-from-pepsico-stock-ahead-of-q3-earnings">How To Earn $500 A Month From PepsiCo Stock Ahead Of Q3 Earnings</a></li>
</ul>
Photo via Shutterstock.

Previews

Pepsi Q3 Earnings Preview: Can The Beverage Giant Keep Beating Expectations and Boost Revenue Growth?

Tigress Financial analyst Ivan Feinseth maintains Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) with a Buy and raises the price target from $25 to $28.

Tigress Financial Maintains Buy on Carnival, Raises Price Target to $28

One of the world's largest insurance companies seemingly ended its coverage of the Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck, before a clarification averted tensions between two of the most valuable companies run by <a href="https://www.benzinga.com/top-stories/24/10/41196469/musk-vs-buffett-which-investor-do-benzinga-readers-trust-to-turn-1-000-into-100-000-faster">two of the richest people</a>.
What Happened: According to a <a href="https://www.torquenews.com/11826/geico-terminating-insurance-coverage-tesla-cybertrucks-says-type-vehicle-doesnt-meet-our">report </a>from Torque News, Geico dropped the Tesla Cybertruck from its coverage.
Geico is owned by Warren Buffett&#8216;s Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>).
Robert Stevenson, who owns a Cybertruck, shared on social media platform X that GEICO told him they can no longer insure his Cybertruck.
"It makes no sense, as there are other, riskier cars out there. Let me know if you recommend any insurer for the truck. I have eight cards with an amazing record. I will be canceling my entire Geico policy," Stevenson tweeted.
Stevenson shared a letter from Geico, which appears to state that the Cybertruck insurance policy had been terminated.
"After a careful review of your policy records, we have determined that we are unable to continue your insurance coverage for the 2024 TESLA CYBERTRUCK," the letter says.
The letter goes on to say that the Cybertruck "type of vehicle doesn't meet our underwriting guidelines."
The Cybertruck is unique for its eccentric, stainless steel design. It also has other features that make it stand out from other pickup trucks and electric vehicles (EVs).
Torque News lists several reasons why the Cybertruck could be riskier than other vehicles to insure, with the high cost and wait time perhaps the biggest issue.
A Geico spokesperson <a href="https://www.theverge.com/2024/10/7/24264330/geico-insurance-coverage-cybertruck-cancelled-dropped-policy">responded </a>to The Verge and clarified that the company &#8220;has coverage available nationwide for the Tesla Cybertruck.&#8221;
Geico is third in U.S. vehicle automotive insurance market share (12.3%), according <a href="https://content.naic.org/sites/default/files/research-actuarial-property-casualty-market-share.pdf">to</a> the National Association of Insurance Commissioners. It trails State Farm (18.3%) and Progressive (15.2%)
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100724">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Geico&#8217;s comments and the fact that Stevenson's tweet has been deleted could point to a potential misunderstanding, or that some facts were left out of the storyline.
Still, this isn't the first time that Cybertruck owners have reported struggling with getting insurance policies for the electric pickup truck.
And while Buffett has butted heads with Tesla CEO Elon Musk in the past, the 94-year-old investor has also <a href="https://www.benzinga.com/news/22/04/26775738/lot-of-companies-make-cars-but-you-have-to-make-cars-that-people-want-warren-buffett-on-elon-musk-an-1">praised Musk in past interviews</a>.
Speculation could continue that Geico is looking to minimize risk with Tesla vehicles in the future based on Buffett's comments<a href="https://www.benzinga.com/markets/equities/24/05/38633307/warren-buffett-comments-on-whether-elon-musks-fsd-will-impact-berkshires-auto-insurance-business"> earlier this year</a> at the annual Berkshire Hathaway shareholders meeting.
An investor of Tesla and Berkshire Hathaway asked Buffett about the risks of full self-driving (FSD) on insurance companies.
Buffett said that lower accident rates are good for society and could be bad for insurance companies based on volume.
"You know, good for society is what we're looking for," Buffett said.
The billionaire said that if accident rates decline, insurance policies could get cheaper for consumers.
Tesla began Cybertruck <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/36032944/cybertruck-delivery-event-elon-musk-highlights-teslas-best-product-says-finally-the">deliveries last November</a>. Since then, the truck has become a staple of the Tesla EV lineup.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100724">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo courtesy of Tesla.

TSLA

Warren Buffett Vs. Elon Musk: Did Geico Cut Insurance Coverage On Cybertrucks For Not Meeting 'Underwriting Guidelines'?

On Monday, a U.S. District judge ordered Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) to open its Google Play Store to competitors, making it easier for developers of mobile app stores to compete on <a href="https://www.benzinga.com/general/24/10/41124211/epic-games-starts-a-new-battle-with-google-and-samsung">Android phones and tablets.&nbsp;</a>
The Details: Judge James Donato issued his final ruling in Epic v. Google, ordering Google to distribute third-party app stores within the Google Play Store. The judge also ruled Google must give third-party app stores access to the full catalog of Google Play apps and allow developers to link to app downloads outside of the Play Store. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41176088/what-happened-with-vistra-constellation-energy-stocks-today">What Happened With Vistra, Constellation Energy Stocks Today?</a>
Google was also ordered to stop requiring Google Play billing for apps distributed on the Google Play Store and to allow developers to inform users about alternative payment methods from with the Play Store. 
What Else: The U.S. Department of Justice (DOJ) is expected to file a high-level framework for potential remedies on Tuesday in its separate search distribution trial against Google. 
JP Morgan analyst Doug Anmuth <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41211507/doj-to-file-remedies-framework-against-google-jp-morgan-sees-alphabet-eps-to-drop-1">expects the DOJ to present</a> a broad and punitive set of potential remedies that could include the separation of Android and Chrome and/or the separation of Google Search ads from Google. 
<h1 class="wp-block-heading">Will GOOG Stock Go Up?</h1>
When trying to assess whether or not Alphabet will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $203.40 on Alphabet. The Street high target is currently at $220 and the Street low target is $185. Of all the analysts covering Alphabet, four have positive ratings, one has neutral ratings and no one has negative ratings.
In the last month, three analysts have adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/GOOG/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Alphabet have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Alphabet is 17.79% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Alphabet, visit <a href="https://www.benzinga.com/quote/GOOG">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
GOOG Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Alphabet shares ended Monday's session down 2.47% at $164.39.&nbsp;&nbsp;
Read Also:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41186003/bitcoin-miner-iris-energy-releases-september-update-what-to-know">Bitcoin Miner Iris Energy Releases September Update: What To Know</a></li>
</ul>
Photo: Shutterstock

Large Cap

Movers

GOOG

GOOGL

Google Must Open Play Store To Competitors, Judge Orders

Citigroup analyst Brian Downey maintains Ovintiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OVV#NYSE">OVV</a>) with a Buy and lowers the price target from $58 to $55.

Citigroup Maintains Buy on Ovintiv, Lowers Price Target to $55

Shares of&nbsp;Humana Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hum#NYSE">HUM</a>) have dropped 30.2% over the past month to close at $240.03 on Friday. The steep declines last week have pushed the stock&#39;s price closer to the lower end of its 52-week range of $213.31-$530.54. Having underperformed its peers like&nbsp;Molina Healthcare, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/moh#NYSE">MOH</a>) and Centene Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cnc#NYSE">CNC</a>), the overall industry, and the S&amp;P 500, the company&#39;s current share price seems an excellent opportunity to build a position in a renowned HMO company. After all, you would much rather buy closer to the low than the high, right?&nbsp;
<h2>One-Month Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/e4/80609.jpg?v=334232142" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
HUM is trading below its 50 and 200-day moving averages, indicating a bearish outlook. Buying closer to the low can be attractive, but context matters - let&#39;s explore further.
<h2>HUM&#39;s Falling Stars</h2>
HUM experienced its worst share price fall since the financial crisis due to losing high-quality ratings on its major Medicare Advantage plans, which generate substantial revenue. The news slashed its star-rated membership from 94% to around 25%, triggering a selloff that wiped out a massive chunk of its market value.
This has not only affected Humana but also rippled through the broader health insurance sector. The health insurer, like many others, is already facing growing medical costs and tighter reimbursements from the government. This latest development is bound to affect its profit levels.
<h2>Analysts Downgrade HUM&#39;s Earnings Estimates</h2>
Reflecting the negative sentiment around Humana, the Zacks Consensus Estimate for earnings per share has seen downward revisions. The consensus estimate for 2024 adjusted earnings for HUM is currently pegged at $16.12 per share, indicating a 38.2% year-over-year decline. Over the past four quarters, its average earnings surprise is at negative 2.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9b/80608.jpg?v=386647277" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>HUM&#39;s Headwinds</h2>
With a sharp decline expected in Humana&#39;s top-rated Medicare Advantage plan enrollments next year, its revenues are likely to take a hit. This drop is expected to ripple through its partner network, affecting them depending on payment structures. The company has already been dealing with an anticipated membership decline, and this new development further hinders its member growth strategies.
In addition, Humana has been grappling with rising operating expenses. Over the past few years, operating costs surged 10.7% in 2021, 11.5% in 2022, and 14.9% in 2023. The trend has continued, with a 12.8% increase in operating expenses reported in the first half of 2024. The rise is attributed to higher benefits and operating costs, which are likely to pressure profit margins moving forward. Moreover, as senior citizens continue to resume elective procedures post-pandemic, medical costs are set to escalate further, adding to the company&#39;s financial challenges.
Also, its rising debt level is a concern. Long-term debt amounted to $11.7 billion at second-quarter end, up 15% from the figure as of Dec. 31, 2023.&nbsp;Its long-term debt to capital of 41.25% is higher than the industry average of 38.26%.
<h2>Final Words: Steer Clear of HUM Stocks</h2>
Humana is facing significant challenges, including membership decline, rising costs and debt burden. The stock is trading below key moving averages, signaling a bearish trend. With analysts downgrading earnings estimates, investors should approach HUM stock with caution as it shows serious downside potential. It currently carries a Zacks Rank #4 (Sell).
<a href="https://www.zacks.com/stock/news/2347052/humana-stock-getting-closer-to-52-week-lows-a-buying-opportunity?cid=CS-BENZ-FT-analyst_blog|52week_high/low-2347052">To read this article on Zacks.com click here.</a>

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Citigroup analyst Patrick Cunningham maintains Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) with a Buy and raises the price target from $330 to $345.

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Editor&#8217;s note: This story has been corrected to reflect that Tim Walz is the governor of Minnesota. 
In previous presidential elections, the Democratic and Republican candidates typically didn&#8217;t address cannabis and cryptocurrency as issues <a href="https://www.benzinga.com/topic/election-day">heading into Election Day</a>. 
This year, it&#8217;s different. Both Vice President Kamala Harris and former President Donald Trump have recognized cannabis and cryptocurrency — two areas of coverage for Benzinga — as key topics of interest among the electorate.
On Tuesday and Wednesday, the future of the cannabis market will be front and center at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference in Chicago</a>. 
For Trump, he seemingly took a hint <a href="https://www.benzinga.com/markets/cannabis/24/05/38880719/biden-announces-monumental-marijuana-rescheduling-doj-to-take-next-steps">from the Biden-Harris administration</a> and recognized that a majority of people, including most Republicans, <a href="https://www.benzinga.com/markets/cannabis/24/05/38922599/69-of-voters-including-majority-of-republicans-support-marijuana-legalization-did-you-catch-that">favor marijuana legalization</a>. Last month, he even expressed a desire to <a href="https://www.benzinga.com/markets/cannabis/24/09/40774795/trump-says-hell-reschedule-cannabis-if-elected-backs-marijuana-banking-reform-and-floridas-amend">federally reschedule cannabis</a> if he&#8217;s re-elected — a take that&#8217;s at odds <a href="https://www.benzinga.com/markets/cannabis/24/05/38649648/ron-desantis-plan-to-scuttle-floridas-cannabis-legalization-initiative-with-his-vast-fundraising">with other GOP leaders</a>. 
And when it comes to crypto, Trump was notoriously <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429919/trumps-crypto-reversal-ex-president-reportedly-holds-more-than-1m-in-digital-assets">a skeptic at first</a>. Not anymore. Now the <a href="https://www.benzinga.com/government/21/01/19152983/donald-trump-is-the-first-us-president-to-be-impeached-twice">twice-impeached former president</a> is looking to cash in on the <a href="https://www.benzinga.com/24/09/40668757/trump-vs-harris-majority-of-us-crypto-owners-support-this-candidate">crypto fandom he&#8217;s amassed</a> and launch, with his sons, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40800775/donald-trumps-world-liberty-financial-plans-to-raise-540m-with-token-sale">a new business venture</a> called World Liberty Financial. 
Voters keen on knowing where Harris stands on each issue will likely hope to get some answers this week when she and Minnesota Gov. Tim Walz, her running mate, embark on a media blitz, starting Monday night with <a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">a &#8220;60 Minutes&#8221; interview</a>.
The Democratic ticket will face a multitude of pointed questions on a variety of topics: the economy, inflation, women&#8217;s rights and saving democracy.
Whether Harris mentions cannabis or crypto in her media appearances this week remains to be seen. Until then, here&#8217;s a recap of the candidate&#8217;s stance and questions her interviewers would be wise to ask. 
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40713542/2024-election-cannabis-swing-state-voters-back-legalization-new-poll-reveals" target="_blank" rel="noreferrer noopener">2024 Election &amp; Cannabis: Swing State Voters Back Legalization, New Poll Reveals</a>
<h3 class="wp-block-heading">Harris On Cannabis</h3>
Last week, Harris — in an interview on &#8220;All the Smoke&#8221; — reiterated her stance on cannabis legalization to hosts and former NBA players Matt Barnes and Stephen Jackson.
"I just feel strongly, people should not be going to jail for smoking weed. And we know historically what that has meant and who has gone to jail," Harris <a href="https://www.benzinga.com/markets/cannabis/24/09/41106120/kamala-harris-we-need-to-legalize-cannabis-vp-says-for-first-time-as-presidential-candidate-in-a">told Barnes and Jackson</a>.
On average, Black people are 3.6 times more likely to be arrested on marijuana charges, according to ACLU data.
"Second, I just think we have come to a point where we have to understand that we need to legalize it and stop criminalizing this behavior," she added. "And actually, this is not a new position for me. I have felt for a long time we need to legalize. So that's where I am on that."
Harris&#8217; <a href="https://apnews.com/article/harris-positions-flipflop-trump-marijuana-death-penalty-f35dbacc2137e6aebc214befd4503ff8">critics</a> often point to her time as California attorney general from 2011 to 2017. At the time, she did not support legalizing recreational use of marijuana. Since then, she&#8217;s changed her view.
<a href="https://www.benzinga.com/markets/cannabis/20/10/17835892/kamala-harris-pledges-to-decriminalize-marijuana-expunge-records-at-vp-debate">During her 2020 debate</a> with then-Vice President Mike Pence, Harris promised to decriminalize the drug and expunge marijuana-related criminal records. By 2022, the <a href="https://www.benzinga.com/markets/cannabis/22/10/29175510/breaking-biden-announces-pardons-for-all-federal-marijuana-possession-convictions">White House announced a pardon</a> of all prior federal offenses of simple marijuana possession.
Key Question To Ask: Why has the number of people still imprisoned remained unchanged? The Last Prisoner Project has been calling on the White House to <a href="https://www.benzinga.com/markets/cannabis/24/10/41214802/joe-biden-quick-question-before-you-go-are-those-cannabis-pardons-from-2-years-ago-still-on">make good on its promise</a>. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07112738/ccc-oct-24-banner__1_-14.gif" alt="" class="wp-image-583764" /></a></figure>
<h3 class="wp-block-heading">Harris On Crypto</h3>
Polymarket, where gamblers bet on real-world events using cryptocurrency, currently has <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41214859/this-polymarket-trader-holds-6-4-million-in-donald-trump-election-bets-if-not-musk-definit">Trump in the lead</a>. This is perhaps a reflection of how the crypto community views Harris. 
Over the last four years, crypto investors and venture capitalists have grown frustrated with the way Biden-appointed SEC Chair Gary Gensler approached the industry.
Harris hears these complaints. She <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40972902/kamala-harris-finally-mentions-crypto-and-that-too-on-wall-street-promises-to-encourage-in" target="_blank" rel="noreferrer noopener">recently commented</a> on the future of digital assets at a Manhattan fundraiser, adding it to "innovative technologies" like artificial intelligence that are worth supporting.
She has also <a href="https://www.cnbc.com/2024/09/20/anthony-scaramucci-kamala-harris-campaigns-digital-asset-policies-.html">asked</a> SkyBridge Capital managing partner Anthony Scaramucci and other crypto advocates to advise her campaign's policies on digital assets.
Trump once dismissed cryptocurrency as worthless. He <a href="https://x.com/realDonaldTrump/status/1149472282584072192" target="_blank" rel="noreferrer noopener">warned</a> in 2019 that unregulated Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other digital assets can &#8220;facilitate unlawful behavior, including drug trade and other illegal activity.&#8221; The <a href="https://www.benzinga.com/news/23/08/33851310/donald-trump-election-fraud-probe-georgia-grand-jury-reportedly-issues-10-indictments">quadruple-indicted candidate</a> has since pivoted 180 degrees on his position.
Key Question To Ask: Who would Harris name as SEC chair if she&#8217;s elected president? The future of the sector depends on it, as businesses dealing with crypto remain in the dark on the industry&#8217;s legal nuances. Trump is <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41212008/trump-considers-robinhood-exec-dan-gallagher-for-sec-chair-if-re-elected">reportedly looking to make his pick</a>.
What's Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be explored at Benzinga's upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event. Check it out on Nov. 19.
And in addition to &#8220;60 Minutes,&#8221; Harris has several other media appearances during the week, including:
<ul>
<li>Tuesday, Oct. 8, 11 a.m. ET: "The View" on ABC</li>
<li>Tuesday, Oct. 8, 1 p.m. ET: "The Howard Stern Show" on SiriusXM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>)</li>
<li>Tuesday, Oct. 8, 11:35 p.m. ET: "Late Show with Stephen Colbert" on CBS</li>
<li>Thursday, Oct. 10, 10 p.m. ET: Town Hall with TelevisaUnivision, partially owned by Grupo Televisa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TV#NYSE">TV</a>)</li>
</ul>
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40678698/trump-said-kamala-harris-treated-mike-pence-horribly-gets-slammed-online-for-having-a-stunning-senil">Trump Said Harris Treated Mike Pence Horribly, Gets Slammed Online For Having A &#8216;Stunning Senile Moment&#8217;</a></li>
</ul>
Image: Shutterstock.

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