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SPDR Gold MiniShares Trust

Earnings

Earnings Misses

News

GBTG

Global Business Travel Q3 2024 GAAP EPS $(0.28) Misses $(0.06) Estimate, Sales $597M Miss $613.530M Estimate

WIIM

Emerson Electric shares are trading higher after the company reported better-than-expected Q4 financial results and issued FY25 adjusted EPS guidance above estimates. Also, the company announced it increased return of capital to shareholders with plans to repurchase approximately $2B in FY25.

Susquehanna analyst Biju Perincheril maintains SM Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>) with a Neutral and lowers the price target from $48 to $46.

Price Target

Analyst Ratings

Susquehanna Maintains Neutral on SM Energy, Lowers Price Target to $46

Telsey Advisory Group analyst Joseph Feldman downgrades Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) from Outperform to Market Perform and lowers the price target from $95 to $75.

Downgrades

DLTR

Telsey Advisory Group Downgrades Dollar Tree to Market Perform, Lowers Price Target to $75

Stephens &amp; Co. analyst John Campbell maintains QuinStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNST#NASDAQ">QNST</a>) with a Overweight and raises the price target from $23 to $27.

QNST

Stephens & Co. Maintains Overweight on QuinStreet, Raises Price Target to $27

Susquehanna analyst James Friedman maintains Marqeta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MQ#NASDAQ">MQ</a>) with a Positive and lowers the price target from $9 to $7.

Susquehanna Maintains Positive on Marqeta, Lowers Price Target to $7

2024 Financial Guidance:
For the twelve months ending December&nbsp;31, 2024, the Company now expects:
<ul>
<li>Net sales of $562 million to $567 million, reflecting an increase of $2.5 million from the midpoint of previous guidance</li>
<li>Adjusted EBITDA&#x2A; of $104 million to $107 million</li>
<li>Non-GAAP EPS&#x2A; of $0.40 to $0.42, reflecting an increase of $0.02 from the midpoint of previous guidance</li>
</ul>

Guidance

Bioventus Raises FY24 Adj EPS Guidance from $0.36-$0.42 to $0.40-$0.42 vs $0.39 Est; Sales Guidance from $557M-$567M to $562M-$567M vs $561.77M Est

Susquehanna analyst Christopher Rolland maintains Lattice Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) with a Positive and lowers the price target from $65 to $55.

LSCC

Susquehanna Maintains Positive on Lattice Semiconductor, Lowers Price Target to $55

Stephens &amp; Co. analyst Tommy Moll maintains WESCO Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCC#NYSE">WCC</a>) with a Overweight and raises the price target from $190 to $205.

Stephens & Co. Maintains Overweight on WESCO Intl, Raises Price Target to $205

AC Immune (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACIU#NASDAQ">ACIU</a>) reported quarterly earnings of $0.06 per share which beat the analyst consensus estimate of $(0.23) by 125.22 percent. This is a 128.43 percent increase over losses of $(0.20) per share from the same period last year. The company reported quarterly sales of $29.44 million which beat the analyst consensus estimate of $1.74 million by 1.59K percent.

ACIU

AC Immune Q3 EPS $0.06 Beats $(0.23) Estimate, Sales $29.44M Beat $1.74M Estimate

Susquehanna analyst James Friedman maintains Fidelity National Info (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>) with a Positive and raises the price target from $88 to $103.

Susquehanna Maintains Positive on Fidelity National Info, Raises Price Target to $103

The Company is updating previous financial guidance for fiscal year 2024 as follows:
<ul>
<li>Adjusted EBITDA of $655 million to $675 million, from $660 million to $700 million</li>
<li>Free cash flow of $175 million to $195 million, from $160 million to $180 million</li>
</ul>

AHCO

AdaptHealth Revises FY24 Net Revenue Outlook From $3.255B - $3.315B To $3.220B - $3.260B, (Est $3.276B)

Bioventus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BVS#NASDAQ">BVS</a>) reported quarterly earnings of $0.06 per share which beat the analyst consensus estimate of $0.03 by 100 percent. This is a 20 percent increase over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $138.964 million which beat the analyst consensus estimate of $133.233 million by 4.30 percent. This is a 15.04 percent increase over sales of $120.794 million the same period last year.

Earnings Beats

Bioventus Q3 2024 Adj. EPS $0.06 Beats $0.03 Estimate, Sales $138.964M Beat $133.233M Estimate

&#128201;The stock market declined last week,&nbsp;with the S&amp;P 500 shedding 1.4% to end at 5,728.80. The index is now up 20.1% year to date and up 60.2% from its October 12, 2022&nbsp;<a href="https://www.tker.co/p/bull-market-june-2023" rel="">closing low of 3,577.03</a>. For more on the stock market moves, read:&nbsp;<a href="https://www.tker.co/p/stock-market-drawdowns-bull-markets" rel="">Keep your stock market seat belts fastened</a>&nbsp;&#127906;
History shows that the stock market usually&nbsp;<a href="https://www.tker.co/p/us-presidents-stock-market-performance" rel="">performed well regardless</a>&nbsp;of the U.S. president&rsquo;s political party.
This suggests that there isn&rsquo;t a political party that&rsquo;s necessarily&nbsp;bad&nbsp;for the stock market.&nbsp;<a href="https://www.tker.co/p/us-presidents-stock-market-performance" rel="">Maybe some presidents are&nbsp;</a><a href="https://www.tker.co/p/us-presidents-stock-market-performance" rel="">better</a>&nbsp;for the market than others, especially at the industry level. But there isn&rsquo;t clear evidence showing that&nbsp;<a href="https://www.tker.co/p/us-presidents-stock-market-performance" rel="">a particular president&nbsp;</a><a href="https://www.tker.co/p/us-presidents-stock-market-performance" rel="">alone</a>&nbsp;can have enough of a material, long-term impact that the fundamentals driving the market higher will turn unfavorably.
&ldquo;Over time, the stock market&rsquo;s strongest threads have been the economy and earnings, not who&rsquo;s in the Oval Office,&rdquo; Ritholtz Wealth Management&rsquo;s Callie Cox&nbsp;<a href="https://x.com/callieabost/status/1851341245718647218" rel="">said</a>.
<a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc771b18-b86d-40fc-9a06-d5815fed5beb_1456x833.jpeg" rel="" target="_blank"><img alt="" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc771b18-b86d-40fc-9a06-d5815fed5beb_1456x833.jpeg" style="height:357px; width:624px" /></a>
The stock market has a history of going up, regardless of the political party occupying the Oval Office. (Source:&nbsp;<a href="https://x.com/callieabost/status/1851341245718647218" rel="">@CallieCox</a>)
At the margin, however, the results of a presidential election can certainly cause market volatility to rise in the&nbsp;short-term. After all, each candidate comes with very different ideas for policies&nbsp;<a href="https://www.tker.co/p/corporate-tax-reform-vs-earnings-chart" rel="">like the corporate tax rate</a>. Over time, companies&nbsp;<a href="https://www.tker.co/p/earnings-growth-risks-question" rel="">will adapt and adjust</a>&nbsp;to new policies as they&nbsp;<a href="https://www.tker.co/p/corporate-tax-reform-vs-earnings-chart" rel="">work to preserve earnings growth</a>. But they need some clarity as to what those new policies could be before proceeding with changes.
As such, companies will often take a wait-and-see approach ahead of an uncertain election. That&rsquo;s a headwind for economic activity in the short-term. And with polling data showing the presidential candidates neck and neck ahead of this year&rsquo;s election, companies are once again saying that they&rsquo;ll wait for election results to move forward with any changed business strategies.
&ldquo;It was unsurprising that the U.S. election came up quite a bit in last week&rsquo;s earnings calls,&rdquo; RBC&rsquo;s Lori Calvasina said on Monday. &ldquo;As has been the case in recent quarters, there were numerous references to the uncertainty that the event has created and the adverse impact that uncertainty has had on business activity. Several companies noted the need to simply get to the other side.&rdquo;
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<h3>Declining Uncertainty Could Be Bullish Regardless Of The Election Outcome</h3>
Uncertainty doesn&rsquo;t only keep business executives on the sidelines. It keeps traders and investors on the sidelines too.
History shows that during election years, the stock market tends to deliver below-average returns ahead of Election Day. However, the rally tends to pick&nbsp;up once we &ldquo;get to the other side&rdquo; and the uncertainty wanes.
&ldquo;[R]egardless of the election outcome, declining uncertainty typically lifts equity valuations and prices following Election Day by more than the typical seasonality would suggest,&rdquo; Goldman Sachs&rsquo; Ben Snider&nbsp;<a href="https://www.tker.co/i/141606102/election-years-tend-be-good-but-less-good" rel="">wrote in a February note to clients</a>.
<a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0e4d5d18-150d-4b14-bd41-ef9962be9a7d_1564x1108.png" rel="" target="_blank"><img alt="" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0e4d5d18-150d-4b14-bd41-ef9962be9a7d_1564x1108.png" style="height:442px; width:624px" /></a>
Stocks have historically performed weaker-than-average during election years ahead of Election Day, but strength generally returns after Election Day. (Source: Goldman Sachs via&nbsp;<a href="https://www.tker.co/i/141606102/election-years-tend-be-good-but-less-good" rel="">TKer</a>)
The fact that the S&amp;P 500 fell 1% in October is very much consistent with history.
&ldquo;October is the worst month of the year in an election year,&rdquo; Carson Group&rsquo;s Ryan Detrick said. &ldquo;So maybe down some last month shouldn&#39;t be a huge surprise?&rdquo;
<a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F478ac55d-d96f-4201-ba53-1e6a062b585f_1101x366.jpeg" rel="" target="_blank"><img alt="" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F478ac55d-d96f-4201-ba53-1e6a062b585f_1101x366.jpeg" style="height:207px; width:624px" /></a>
&nbsp;
(Source:&nbsp;<a href="https://x.com/RyanDetrick/status/1852350445194211420/" rel="">@RyanDetrick</a>)
&ldquo;What also shouldn&#39;t be a surprise is strength in November, as this is the best month of an election year,&rdquo; Detrick added.
Though, this election year has arguably been unusual in that year-to-date returns have been well above average. Through Friday, the S&amp;P 500 is up a little over 20%.
&ldquo;[These gains] would join 2021 (+22.61%), 2019 (+21.17%), and 2013 (+23.16%) as the only years in the 2000s with gains of over 20% up through this point of the year,&rdquo; Bespoke Investment Group observed on Thursday. &ldquo;Only looking at election years, however, this year&#39;s gain is the largest YTD rally in the S&amp;P 500 since 1936!&rdquo;
<a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9fd4ef2c-3ae2-4787-aadb-31767def0d1c_1166x620.jpeg" rel="" target="_blank"><img alt="" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9fd4ef2c-3ae2-4787-aadb-31767def0d1c_1166x620.jpeg" style="height:332px; width:624px" /></a>
This year is on track to be the best election year since 1936. (Source:&nbsp;<a href="https://x.com/bespokeinvest/status/1852049386840166617" rel="">@BespokeInvest</a>)
&ldquo;With equities having already posted huge returns this year, it raises the question of how performance looks for the rest of the year,&rdquo; Bespoke added. &ldquo;With only two prior examples of the S&amp;P 500 rallying 20% YTD headed into a presidential election, it isn&#39;t a big sample size so not too much weight should be put on it, but returns in November and from October through year&#39;s end have been mixed. Both times saw gains in November while the index was higher for the rest of the year in 1928 and slightly lower in 1936.&nbsp;The only other election year when the S&amp;P 500 was even up 15% YTD through the end of October (1980), November experienced a gain of 10.24% but the rest of the year&#39;s gain was just 6.5%.&rdquo;
Perhaps the market has gotten a little ahead of itself. Perhaps not. We&rsquo;ll only know what the rest of the year looks like until it&rsquo;s behind us.
<h3>Will We Know Who Won The Election Next Week?</h3>
Election Day is Tuesday. But experts warn we might not get final results by the end of the day.
&ldquo;With polls indicating another very tight race in 2024, many of the same factors that led to a delayed call in 2020 could be at play again,&rdquo; Goldman Sachs&rsquo; Michael Cahill said on Tuesday.
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But that doesn&rsquo;t mean the market won&rsquo;t have a better sense of what the next four years could look like.
&ldquo;While we cannot rule out the possibility of a very tight result and prolonged period of uncertainty, most likely the market will be able to gauge the likely presidential winner on election night or shortly thereafter, even if there are a few &lsquo;head fakes&rsquo; in the first few hours and media sources take longer to make their call &mdash; just like last time,&rdquo; Cahill said.
<h3>Zooming Out</h3>
You don&rsquo;t have to look very far back in history to see a president you didn&rsquo;t vote for or wouldn&rsquo;t have voted for occupy the Oval Office. And odds are, the&nbsp;<a href="https://www.tker.co/p/long-term-chart-us-stock-prices-since-1824" rel="">stock market performed pretty well</a>&nbsp;during his term.
To be clear, of course it&nbsp;matters&nbsp;who the president of the United States is: It has an immediate impact on sentiment, it could have short-term and long-term social implications, and it may even move the needle on the potential for economic growth.
But from a long-term investor&rsquo;s perspective, the president has an arguably marginal impact on the already existing forces driving the markets.
In the near-term, we should&nbsp;<a href="https://www.tker.co/p/stock-market-drawdowns-bull-markets" rel="">always brace for market volatility</a>. But getting past this election uncertainty &mdash; regardless of who wins &mdash; could prove to be a tailwind for markets.
&ldquo;Big picture, the reduction in uncertainty is almost always positive for asset prices, and we&rsquo;re at that moment of peak uncertainty,&rdquo; Ken Griffin, the billionaire founder of Citadel,&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-10-29/citadel-s-ken-griffin-expects-trump-to-win-close-us-election" rel="">said on Tuesday</a>. &ldquo;Post election, we&#39;ll generally see a risk-on environment as people come to adopt a new regime, whether it&#39;s a Harris regime or a Trump regime. This uncertainty will be behind us.&rdquo;

Government

Markets

General

Getting To 'The Other Side' Of Election Uncertainty

Navios Maritime Partners Q3 2024 GAAP EPS $3.20 Misses $4.29 Estimate, Sales $340.800M Miss $377.047M Estimate

Susquehanna analyst Christopher Rolland maintains Cirrus Logic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>) with a Positive and lowers the price target from $160 to $135.

CRUS

Susquehanna Maintains Positive on Cirrus Logic, Lowers Price Target to $135

PAYO

Payoneer Global shares are trading higher after the company reported better-than-expected Q3 EPS and sales and raised its FY24 revenue guidance.

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is up 3.7% over the past 24 hours as positive news from its <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">community bolster sentiment</a>.
What Happened: Pseudonymous lead developer Shytoshi Kusama <a href="https://blog.shib.io/strategic-hub-for-innovation-in-blockchain/">suggested</a> establishing a blockchain innovation hub in the U.S., inviting presidential candidates to endorse a "Silicon Valley" for the blockchain sector.  
This initiative, dubbed S.H.I.B., aims to drive economic growth, create quality jobs, and reinforce the U.S. as a leader in emerging technologies. Kusama estimated the project cost at $1.3 to $2.35 billion over 5-10 years.
By leveraging blockchain&#8217;s transformative potential, this S.H.I.B. initiative aims to stimulate economic growth, create high-quality jobs, enhance national security, and reinforce the United States&#8217; leadership in emerging technologies.
Crypto analyst Javon Marks reaffirmed his target price of $0.000081 for SHIB, suggesting the meme coin may be entering its next growth phase.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> (Shiba Inu) remains broken out and has confirmed a bull pattern with the RSI on the daily chart! Overall Target is still at $0.000081 and the next leg towards it can be in early stages, initiated by the falling wedge breakout&#8230; <a href="https://t.co/pbBS66quWM">https://t.co/pbBS66quWM</a> <a href="https://t.co/MVu7lBfoqG">pic.twitter.com/MVu7lBfoqG</a>
&mdash; JAVON&#x26a1;&#xFE0F;MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1853599365069472037?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Last week, trader Investing Haven noted that Shiba Inu "avoided" the forecasted drop in October thereby implying "strong buying interest and a breakout trend." He <a href="https://x.com/InvestingHaven/status/1852320937405989334">predicted</a> SHIB is "primed for a strong 2025."
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41681345/dogecoin-killer-shiba-inu-burn-rate-explodes-254-078-higher-and-one-indicator-shows-a-90-r">&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Explodes 254,078% Higher And One Indicator Shows A 90% Rally Could Be Coming</a>
Why It Matters: Shibariumscan reported a rise in daily SHIB transactions from 4.68 million on Nov. 3 to 4.74 million on Nov. 4. Shibburn <a href="https://x.com/shibburn/status/1853633381621248439">data</a> shows the burn rate increasing by 5,929.2%. In the past 24 hours, 1.5 million SHIB coins were removed from the ecosystem.
Large transaction volume and daily active addresses declined by 6% and 10.7%, respectively, according to IntoTheBlock. Transactions greater than $100,000 are down from 147 to 114 in a single day.
What&#8217;s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616239/shytoshi-kusama-touts-shiba-inu-lifetime-gains-of-33774726-we-still-have-far-to-go-and-muc">Shytoshi Kusama Touts Shiba Inu Lifetime Gains Of 33774726%: &#8216;We Still Have Far To Go And Much Work To Be Done&#8217;</a></li>
</ul>
Image: Shutterstock

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Cryptocurrency

$SHIB

'Dogecoin Killer' Shiba Inu Up 3%: What Is Going On?

Scotiabank analyst George Farmer upgrades argenx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) from Sector Perform to Sector Outperform and raises the price target from $439 to $715.

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SPDR Gold MiniShares Trust

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Ultime notizie per SPDR Gold MiniShares Trust (ARCA:GLDM)

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BENZINGA NEL MONDO